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 | Claims processing; Recordkeeping and ... | $537 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $19,259 | $58,895-67.3% | $178,503-89.2% | $73,497-73.8% |
| Participation rate | 69.8% | 66.2%+3.6pp | 81.9%-12.1pp | 70.7%-0.9pp |
| Annual return | 16.10% | 24.86%-8.8pp | 151.12%-135.0pp | 28.51%-12.4pp |
| Employer contribution / active EE | $805 | $2,236-64.0% | $5,011-83.9% | $2,270-64.6% |
| Participant deferral / active EE | $2,045 | $2,567-20.3% | $5,202-60.7% | $3,740-45.3% |
| Admin fee / account holder | $6 | $400-98.5% | $13,987-100.0% | $513-98.8% |