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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 ... | $522 |
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.
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 | $61,368 | $84,236-27.1% | $170,435-64.0% | $70,126-12.5% |
| Participation rate | 31.6% | 70.8%-39.3pp | 83.6%-52.0pp | 69.5%-38.0pp |
| Annual return | 24.66% | 23.06%+1.6pp | 205.94%-181.3pp | 73.15%-48.5pp |
| Employer contribution / active EE | $0 | $3,387-100.0% | $5,432-100.0% | $2,343-100.0% |
| Participant deferral / active EE | $1,569 | $3,086-49.2% | $4,939-68.2% | $3,332-52.9% |
| Admin fee / account holder | $8 | $5,698-99.9% | $13,881-99.9% | $4,645-99.8% |