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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 ... | $547 |
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 | $53,665 | $75,962-29.4% | $154,108-65.2% | $64,173-16.4% |
| Participation rate | 41.8% | 70.4%-28.6pp | 83.0%-41.3pp | 69.6%-27.8pp |
| Annual return | -5.46% | 30.32%-35.8pp | 735.21%-740.7pp | 7.63%-13.1pp |
| Employer contribution / active EE | $0 | $3,350-100.0% | $5,298-100.0% | $2,381-100.0% |
| Participant deferral / active EE | $1,928 | $3,175-39.3% | $5,081-62.1% | $3,470-44.4% |
| Admin fee / account holder | $7 | $5,589-99.9% | $13,411-99.9% | $4,887-99.9% |