Filed May 9, 2022 (most recent of 2 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
Service code 15 · EIN 35-0145825 | Recordkeeping | $39,329 |
Filed as: MUTUAL OF AMERICA LIFE INS CO Service code 12 · EIN 13-1614399 | Participant loan processing; Account ... | $2,656 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Plan reported corrective distributions (failed ADP/ACP testing).
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 | $25,367 | $31,810-20.3% | $64,105-60.4% | $59,188-57.1% |
| Participation rate | 45.3% | 57.7%-12.4pp | 68.2%-22.8pp | 69.4%-24.1pp |
| Annual return | 0.04% | 9.41%-9.4pp | 791.24%-791.2pp | 5.51%-5.5pp |
| Employer contribution / active EE | $1,062 | $659+61.1% | $1,820-41.6% | $2,098-49.4% |
| Participant deferral / active EE | $774 | $1,582-51.1% | $2,822-72.6% | $3,265-76.3% |
| Admin fee / account holder | $33 | $57-42.8% | $4,499-99.3% | $92-64.7% |