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| Provider | Service type | Compensation |
|---|---|---|
Filed as: MUTUAL OF AMERICA LIFE INSURANCE CO Service code 12 320 PARK AVENUE · NEW YORK, NY 10022 | Recordkeeping and information managem... | $4,627 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $8,421 | $55,453-84.8% | $170,435-95.1% | $62,293-86.5% |
| Participation rate | 59.9% | 66.4%-6.5pp | 83.6%-23.7pp | 69.5%-9.7pp |
| Annual return | 14.36% | 21.38%-7.0pp | 205.94%-191.6pp | 28.90%-14.5pp |
| Employer contribution / active EE | $0 | $2,164-100.0% | $5,432-100.0% | $2,042-100.0% |
| Participant deferral / active EE | $1,235 | $2,303-46.4% | $4,939-75.0% | $3,169-61.0% |
| Admin fee / account holder | $3 | $455-99.4% | $13,881-100.0% | $479-99.4% |