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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 | Participant loan processing; Recordke... | $1,406 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant is in the bottom quintile of the peer cohort.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $11,849 | $55,453-78.6% | $170,435-93.0% | $62,293-81.0% |
| Participation rate | 48.2% | 66.4%-18.2pp | 83.6%-35.4pp | 69.5%-21.3pp |
| Annual return | 13.10% | 21.38%-8.3pp | 205.94%-192.8pp | 28.90%-15.8pp |
| Employer contribution / active EE | $519 | $2,164-76.0% | $5,432-90.5% | $2,042-74.6% |
| Participant deferral / active EE | $398 | $2,303-82.7% | $4,939-91.9% | $3,169-87.4% |
| Admin fee / account holder | $8 | $455-98.2% | $13,881-99.9% | $479-98.3% |