We decided to have a full asset merger of two organizations that we administratively oversaw and we needed a retirement company that would be able to understand the complexity of merging four different plans into one entity. Mutual of America really rose to the top in terms of being able to present a plan designs that was simple enough for our staff to be able to understand and yet sophisticated enough that we would be able to comply with all the laws that surround the different retirement plans that we utilize. Cost is a factor to us, Mutual of America was able to offer us with a very affordable plan that did not require a lot of additional administrative fees, no one could touch the economics of what was being offered by Mutual of America.
It was very clear as well that Mutual had a very strong team, they were out to all the sites, did multiple visits, went desk to desk to make people understand what was happening and make sure that they were comfortable with the process. They brought to the table a level of expertise that was able to provide the explanations in a way that anyone could understand them and feel comfortable with the fact that they were being provided a benefit that would be a great opportunity for them to be able to save for their future.
We used automatic enrollment by getting into the plan automatically, you have the opportunity to experience how easy it is to start saving for the future. And we've had a great response, I think over 90 percent of our staff are now involved in the plan and we're able to reward them for that by providing a match and really let them see how the money can really grow; if they put a little skin in the game, then we can provide them the benefit that they need to be able to have a decent retirement when they're ready to enter that phase of their life.
Mutual of America… your retirement companyBefore investing, you should carefully consider the investment objectives, risks, charges and expenses of the variable annuity contract and the 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 fund prospectuses and summary prospectuses carefully before investing. The contract prospectus or brochure and underlying fund prospectuses and summary prospectuses can be obtained by mail, by calling 1-800-468-3785 or on mutualofamerica.com.
Mutual of America’s group and individual retirement 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.
Statements made in this video by clients of Mutual of America are not paid testimonials. These testimonials may not be representative of the experience of other clients and are not indicative of future performance or success.