Mutual of America is a single source for all plan services – we offer the cost efficiency and transparency of a full-service provider. Regional Offices
with local, on-site services to address the investment, communication and administrative needs of employers and participants. We also offer individual products, so your employees can save even more for their retirement.
Support for Plan Sponsors
Our local customer service teams provide comprehensive administrative support, including on-site employee enrollment, education and communication services. Plan administration is also made easy and efficient with Mutual of America's Internet-based plan administration system. Key highlights include:
– connects information in the plan sponsor's payroll system with information in Mutual of America's retirement plan administration system to eliminate the need for repetitive data entry.
Online Salary Deferral
– allow employees to review and change their deferral rate at any time through the My Account section of our website.
– increase employee participation in your 401(k) or 403(b) plan and boost savings rates. Includes enrolling eligible employees and automated deferral rate increases.
Remittance Processing – remit contributions and process plan loans online, with the convenience of Electronic Funds Transfer (EFT).
Automated Compliance Services – access easy-to-use electronic signature-ready Form 5500 services and nondiscrimination testing tools, for plans that qualify.
Online Reports – download plan and participant-level transaction reports, with an option to download into an Excel document.
Plan Communications – receive timely and important plan, system and regulatory news and updates.
Protection for ERISA Defined Contribution Plan Fiduciaries
Mutual of America stands behind the selection and monitoring processes for the investment funds offered through the Separate Accounts under its contracts. As evidence of our confidence in our investment products, we will indemnify a Plan Sponsor/Fiduciary who maintains and continues to contribute to an ERISA defined contribution Plan through the Company against liability, losses or reasonable related expenses (including reasonable attorneys' fees and court costs) that arise from ERISA fiduciary claims brought against the Plan Sponsor/Fiduciary with respect to the investment funds offered under the Company's contract, subject to certain terms and conditions. These claims include the following:
- Breach by the Plan Sponsor/Fiduciary of ERISA's prudence and/or diversification requirements in its selection and monitoring of the investment funds.
- Failure by the investment funds offered under the Company's investment menu to meet ERISA Section 404(c)'s "broad range of investment alternatives" requirements to the extent applicable.
- Failure by any Qualified Default Investment Alternatives (QDIAs) offered under the Company's investment menu to meet one of the Department of Labor's investment product requirements for QDIAs.
If you would like to request a copy of the indemnification terms and conditions document, or if you have any questions about your fiduciary obligations, please call your local Mutual of America Regional Office
, or 800.468.3785.
Support for Your Employees
We also help prepare participants for a more secure future through account-related services and educational tools, and assistance on a one-on-one basis.
Your employees can also take advantage of educational tools such as Retirement Calculators and informative articles through the Your Retirement Center and What's New sections at mutualofamerica.com
*Subject to the Company's Frequent Transfer Policy. On the group annuity platform, requests for transfers to the international funds, or revocations of such transfer requests, must be in writing, by U.S.P.S. regular mail. You should consider the investment objectives, risks, and charges and expenses of the investment funds and, if applicable, the variable annuity contract, carefully before investing. This and other information is contained in the funds' prospectuses and summary prospectuses and the contract prospectus or brochure, if applicable, which can be obtained by calling 800.468.3785 or visiting mutualofamerica.com. Read them carefully before investing.
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 consider a variable annuity contract's other features before making a decision.
We deliver "our brand" of personalized service through our nationwide network of