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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 | Recordkeeping and information managem... | $943 |
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 | $10,660 | $75,959-86.0% | $154,114-93.1% | $64,181-83.4% |
| Participation rate | 54.0% | 70.4%-16.4pp | 83.0%-29.0pp | 69.6%-15.5pp |
| Annual return | -5.56% | 30.32%-35.9pp | 735.16%-740.7pp | 7.63%-13.2pp |
| Employer contribution / active EE | $675 | $3,350-79.8% | $5,298-87.3% | $2,381-71.6% |
| Participant deferral / active EE | $537 | $3,175-83.1% | $5,081-89.4% | $3,470-84.5% |
| Admin fee / account holder | $8 | $5,589-99.9% | $13,411-99.9% | $4,887-99.8% |