Mutual of America 2018 Annual Report – Building Momentum

Zeroing in on Goals

The years between ages 35 and 50 are a great time to leap forward in saving for retirement, especially if your income is on the rise and you finally have some breathing room financially. For an example of how you can harness that momentum and save more for the future, meet Kevin Brown.

The San Antonio Food Bank is the largest hunger-relief organization in Southwest Texas, serving more than 58,000 needy individuals a week across 16 counties. Kevin Brown is the Chief Financial Officer for the Food Bank and its retirement plan administrator. He is also a participant in the Food Bank’s two retirement plans: the 403(b) plan it offers to all its employees, and the 457(b) nonqualified plan, which enables key employees of its executive team to set aside additional funds for the future.

“Over the years, we’ve been extremely pleased with the expertise and service that Mutual of America has brought to our 457(b) plan. Recently, when we decided that it was time to transition away from our previous 403(b) plan provider, it was only natural that we asked Mutual of America to provide a proposal,” said Kevin. “We were delighted to see that they competed favorably with other top providers in every category that mattered to us, including technology, participant education, service and fees.”

Mutual of America completed the takeover of the 403(b) plan in April 2018 — a process that Kevin describes as seamless, thanks to Houston Regional Office Vice President Chris Thompson and his team. “Chris and his staff worked diligently to make the enrollment onboarding process not just easy, but also meaningful for every employee. We continue to receive employee feedback that Mutual of America has made a difference in how they view retirement and their ability to build financial security for the future.”

Kevin credits Chris for helping the Food Bank to boost plan participation. “Chris suggested that we adopt auto-enrollment and auto-escalation features into our retirement plan. Although we were initially concerned that our employees might balk at the change, we trusted Chris’s insights and moved forward. The results have been overwhelmingly positive; we’ve seen a significant bump in plan participation since transitioning the plan.”

3 Quick Tips

For Savers Building Momentum

  1. Don’t lose sight of your long-term goals; if possible, boost the amount you’re saving for retirement.

  2. Take time to calculate your retirement income needs.

  3. Make sure your portfolio is properly diversified.

He also points to Mutual of America’s employee-centered approach to participant education as first-rate. “Chris has been a steady presence at our facility. Each time he schedules a participant meeting — which is often — our conference room is filled with employees who are eager to learn how they can build momentum for their retirement savings.”

“We continue to receive employee feedback that Mutual of America has made a difference in how they view retirement.”

Kevin gives Mutual of America high marks for the ease and convenience of Mutual of America SponsorConnect®, the Company’s online plan administration tool, and its online enrollment capabilities, with helping to ease his day-to-day plan responsibilities.

“With our previous provider, we didn’t feel that we were getting access to the best tools or information for our plan or our participants. Today, we feel confident that we have a solid plan and everything we need to help our employees build confidence and momentum on their journey toward retirement.”

You should consider the investment objectives, risks, and charges and expenses of the variable annuity contract and the underlying investment funds carefully before investing. This and other information is contained in the contract prospectus or brochure and underlying funds prospectuses and summary prospectuses, which can be obtained by calling 1-866-954-4321 or by visiting mutualofamerica.com

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.

There is a contract fee (unless you elect to receive documents electronically), and investments in the Separate Account investment funds are subject to Separate Account charges and underlying funds investment management fees and expenses. Withdrawals of the tax-deferred interest and any investment earnings are subject to income tax at your ordinary income tax rate at the time of withdrawal, and if made prior to age 59½, a 10% federal tax penalty.

Statements made in this interactive annual report 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.

Past performance is no guarantee of future results.

The target date set forth in each Retirement Fund's name is the approximate date that the fund expects investors to retire and begin withdrawing their account balance. The value of a Retirement Fund is not guaranteed at any time, including at and after the target date. There is no guarantee that a Retirement Fund will correctly predict market or economic conditions, and as with other mutual fund investments, you could lose money. In addition to a retirement date, individuals should consider their risk tolerance, time horizon, personal circumstances and complete financial situation before investing.

Before making a transfer, you should review the accounts you have with other providers to determine the fees and expenses you currently pay and whether there are any surrender charges that may result and to ensure that it is in your best interest to transfer your other accounts to your current plan.

There is no separate fee for Mutual of America’s Financial Consulting Services, although there are minimum account balance requirements. The information provided by Mutual of America’s Financial Consultants is educational in nature and is not intended to serve as a primary basis for investment decisions. Mutual of America’s Financial Consulting Services do not create an investment advisory or a fiduciary relationship (including under ERISA) between you or your employees and Mutual of America. Mutual of America and its Financial Consultants do not provide tax or legal advice. Consult your personal tax adviser or attorney for matters involving taxation and tax planning and your attorney for matters involving personal trusts and estate planning.