Filed November 24, 2023 (most recent of 2 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... | $11,164 |
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $7,231 | $54,237-86.7% | $90,281-92.0% | $67,579-89.3% |
| Participation rate | 92.6% | 68.6%+24.0pp | 73.3%+19.3pp | 71.3%+21.3pp |
| Annual return | 19.30% | 37.27%-18.0pp | 78.10%-58.8pp | 378.56%-359.3pp |
| Employer contribution / active EE | $1,210 | $1,846-34.5% | $2,854-57.6% | $2,148-43.7% |
| Participant deferral / active EE | $0 | $2,625-100.0% | $3,885-100.0% | $3,539-100.0% |
| Admin fee / account holder | $11 | $123-90.7% | $5,351-99.8% | $142-91.9% |