Filed November 4, 2024 (most recent of 3 filings on file)
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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 | Account maintenance fees; Recordkeepi... | $0 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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 | $9,741 | $55,453-82.4% | $170,435-94.3% | $62,293-84.4% |
| Participation rate | 57.1% | 66.4%-9.2pp | 83.6%-26.5pp | 69.5%-12.4pp |
| Annual return | 19.26% | 21.38%-2.1pp | 205.94%-186.7pp | 28.90%-9.6pp |
| Employer contribution / active EE | $547 | $2,164-74.7% | $5,432-89.9% | $2,042-73.2% |
| Participant deferral / active EE | $1,298 | $2,303-43.6% | $4,939-73.7% | $3,169-59.0% |
| Admin fee / account holder | $8 | $455-98.2% | $13,881-99.9% | $479-98.2% |