Mutual of America's Payroll Integration Saves Time on Retirement Plan Administration
Payroll Integration (PI) eliminates the need for repetitive, manual data entry and provides a secure process for transferring employee information from your payroll file to your retirement plan.
The potential for errors is also reduced, freeing up your employees to focus on other important areas of your business.
Moreover, Mutual of America provides this valuable service at no additional cost.*
Dynamic 360° Capabilities That Streamline Administration
Transfer the information we receive from your payroll provider to Mutual of America SponsorConnect®, our Internet-based retirement plan administration system.
Automatically process contributions and loan repayments via Electronic Funds Transfer (EFT).
Calculate employer match and employer base contributions for most types of matching formulas.
Track eligibility using payroll data, SponsorConnect participant records and plan eligibility requirements.
Check for processing errors and send e-mail notifications to inform you of any actions that need to be taken.
A complete 360° approach to Payroll Integration is available for plan sponsors and payroll providers who take advantage of our feedback file. If permitted by your payroll provider, SponsorConnect salary deferral and loan repayment changes are sent directly to your payroll provider via a feedback file.
We'll work with your payroll provider or in-house payroll department to implement our PI service.
Before investing, you should carefully consider the investment objectives, risks, charges and expenses of the variable annuity contract and underlying investment funds. This and other information is contained in the contract prospectus or brochure and underlying funds prospectuses and summary prospectuses. Please read the contract prospectus or brochure and underlying funds prospectuses and summary prospectuses carefully before investing. The contract prospectus or brochure and underlying fund prospectuses and summary prospectuses can be obtained by mail or by calling 1-800-468-3785.
Mutual of America's group and individual retirement products are variable annuity contracts and are suitable for long-term investing, particularly for retirement savings. The value of a variable annuity contract will fluctuate depending on the performance of the Separate Account investment funds you choose. Upon redemption, you could receive more or less than the principal amount invested. A variable annuity contract provides no additional tax-deferred treatment of benefits beyond the treatment provided to any qualified retirement plan or IRA by applicable tax law. You should carefully consider a variable annuity contract's other features before making a decision.
*Payroll providers may charge a setup fee and a per-payroll fee.