Transferring Your Retirement Plan to Mutual of America

Our Regional Office Team – Local, On-Site Service

Mutual of America is a full-service provider specializing in retirement plans since 1945. We understand plan sponsors’ concerns about changing their retirement plan provider and are ready to assist with all aspects of the transition.

Roll over your old 401k
Our nationwide network of Regional Offices ensures a consistent, high level of support for your employees and plan administrators regardless of geographic boundaries.

This is especially valuable for employers with multiple locations throughout the country.

Retirement plan transfers are handled by our Regional Office service team near you.

You’ll receive on-site assistance from the same licensed professionals who will also be responsible for the ongoing service for your retirement plan.

The Expertise to Ensure a Seamless Execution of Your Plan Transfer

Dedicated Service Managers, with an average of more than 17 years’ experience in the retirement plan industry, provide the local support and expertise required to ensure a smooth transition. They are assisted by salaried Account and Customer Service Representatives who also provide on-site service for you and your employees.

Some of the key services we provide to ensure a seamless transition for your retirement plan include:

  • Assistance with plan document and review of plan design for consistency and legislative updates.
  • Training plan administrators to use our retirement plan administration system.
  • Coordination with you and your current service provider to keep you informed during every step of the takeover process.

Online Enrollment Makes It Easier to Change Providers and Administer Your Retirement Plan

Transferring a retirement plan from another provider to Mutual of America is easy with our online enrollment process. Advantages include:

  • Employee Data Upload – To facilitate the transfer of employee data from your prior carrier to our online administration system.
  • Reduced Enrollment Errors – Through data uploads and employee verification of data.
  • Lower Administrative Costs – By eliminating time-consuming data entry for your staff.
  • Online Salary Deferral Elections – You can opt in to allow employees to review and change their deferral rate at any time through the My Account section.
  • Management Reports – You can track enrollment progress and salary deferral elections more efficiently.
  • Ongoing Service – For new hires and additional employee enrollments to your retirement plan.

Mutual of America Also Offers Payroll Integration as Another Valuable Service to Make Retirement Plan Administration Easier

Payroll Integration 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. In addition to saving time, it can also reduce the potential for errors, freeing up your employees to focus on other important areas of your business.

Sample Timeline

Plan transfers are usually completed within 30-45 days.

Plan assets will be invested with Mutual of America on the date Mutual of America receives the information required to allocate them to the participants’ accounts. Plan assets transferred before the complete allocation instructions are provided will be held in a non-interest-bearing account at the direction of the plan sponsor.

Effective Communications to Inform, Educate and Motivate Your Employees

In today’s challenging economy, your employees need more than generic communications, especially when introducing a new retirement plan.

We’ll work with you to develop a customized communication strategy to support your employees during and after the rollout of your retirement plan.

This includes:

  • Effective Communications to Inform, Educate and Motivate Your Employees
  • On-site enrollment meetings and one-on-one assistance provided by licensed Participant Account Representatives.
  • Customized Summary Plan Description (SPD) booklets, which highlight your retirement plan provisions and contact information.
  • Employee seminars on important investment and retirement planning topics.
  • Electronic communications, including account statements and informative newsletters.
  • Internet-based educational programs and retirement planning information, including retirement planning calculators.

The Benefits of Transferring Your Retirement Plan to Mutual of America, a Leading Provider of Retirement Plans Since 1945

We can help make your retirement plan even more valuable to you and your employees with:

  • Increased Participation – Our on-site seminars and engaging communications are designed to increase employee participation.
  • Enhanced Plan Features – Which can lead to increased employee satisfaction and a more productive workforce.
  • Streamlined Administration – So you can spend more time focused on your business objectives and less time on benefit administration.

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.

Group Product