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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... | $4,262 |
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.
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 | $10,170 | $41,854-75.7% | $73,836-86.2% | $52,331-80.6% |
| Participation rate | 36.8% | 66.2%-29.4pp | 73.4%-36.6pp | 68.1%-31.3pp |
| Annual return | 5.56% | 2.11%+3.4pp | 2268.06%-2262.5pp | 4.54%+1.0pp |
| Employer contribution / active EE | $0 | $1,920-100.0% | $2,787-100.0% | $1,882-100.0% |
| Participant deferral / active EE | $1,111 | $2,498-55.5% | $3,583-69.0% | $3,022-63.2% |
| Admin fee / account holder | $8 | $493-98.4% | $4,882-99.8% | $592-98.7% |