Choose Mutual of America as your retirement plan provider and you’ll
join a select group of businesses, not-for-profits and government agencies. These organizations rely on us for a higher level of service, attention and expertise. You’ll have access to solutions designed to enhance plan operation, participation and compliance.
Across every facet of your plan, you’ll be able to deliver retirement benefits that are easy to administer and easy to use, and that give your employees a high degree of choice and flexibility.
Plan design and optimization.
Elements of a strong retirement plan
A multiple employer plan with Mutual of America may be right for your members if they…
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important information
Specialists offer guidance on plan features, best practices and increasing plan participation.
Of course, 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.
For more information, contact your local Mutual of America office.
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Across the entire spectrum of business and nonprofit organizations, we offer a platform of carefully selected savings and investment options, so participants can build long-term retirement assets on their timetable, in line with their goals for the future.
All of us at Mutual of America are committed to using our experience and expertise to help you offer a retirement plan that’s easy to administer—and that gives your members an effective way to help their employees prepare for tomorrow.
Ready to get started? Mutual of America is here to help.
866.954.4321
Plan administration
Online systems help you make timely contribution remittances, generate
customized reporting and collect
year-end data.
Financial education
Delivered through in-person seminars and online financial education.
Withdrawal options
Participants can choose
from a number of distribution options, including lump-sum payments, periodic withdrawals or guaranteed income.*
Generally, withdrawals 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. Consult your tax adviser regarding your specific situation.
The performance of the Separate Account investment options is not guaranteed, and any assets allocated to them may decrease or increase in value. For more specific information about our Separate Account investment options, including industry allocations and fund performance, please visit mutualofamerica.com.
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, investors may lose money. In addition to a retirement date, individuals should consider their risk tolerance, time horizon, personal circumstances and complete financial situation before investing.
We guarantee that we will credit interest for the life of the contract to amounts in the Interest Accumulation Account of our General Account at a rate at least equal to the greater of (1) any contractual minimum guarantee provided by the contract or (2) the minimum rate required by applicable state law or, if no state law minimum rate is applicable to a contract, the minimum guaranteed credited interest rate will be set pursuant to National Association of Insurance Commissioners (NAIC) standard nonforfeiture law. The NAIC minimum rate is determined in accordance with a formula, and cannot be less than 1.00% or more than 3.00% in any event. We determine whether the application of the formula will change the minimum guaranteed rate each November, and any change is effective the following January 1 for that calendar year. In addition, Mutual of America may credit interest to your contract amounts in the Interest Accumulation Account at a higher rate that we declare from time to time and which may increase or decrease at our sole discretion, although we are not obligated to credit interest in excess of the minimum guaranteed rate. If you participate in an existing Tax Deferred Annuity contract, you should refer to it before making a decision because it may have a guaranteed minimum rate in excess of the formula described above and the advertised declared rate. We compound interest daily on your contract amounts in the General Account to produce an effective annual yield that is equal to the stated interest rate.
Disclosures
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Download the Brochure
Download the Brochure
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 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 options 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.
Mutual of America Life Insurance Company
320 Park Avenue, New York, NY 10022-6839
mutualofamerica.com • 800.468.3785
Mutual of America Life Insurance Company is a registered Broker-Dealer.
Mutual of America® is a registered service mark of Mutual of America Life Insurance Company.
Take advantage of
our experience.
Since 1945, Mutual of America has been a leading provider of workplace retirement plans. As a full-service provider, we offer the
cost-efficiency of a single source for your plan services, including investment services, administration, compliance support, fiduciary support and employee education. For more information, please visit mutualofamerica.com.
contact us
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 800.468.3785 or visiting mutualofamerica.com. Read them carefully before investing.
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, investors may lose money. In addition to a retirement date, individuals should consider their risk tolerance, time horizon, personal circumstances and complete financial situation before investing.
We guarantee that we will credit interest for the life of the contract to amounts in the Interest Accumulation Account of our General Account at a rate at least equal to the greater of (1) any contractual minimum guarantee provided by the contract or (2) the minimum rate required by applicable state law or, if no state law minimum rate is applicable to a contract, the minimum guaranteed credited interest rate will be set pursuant to National Association of Insurance Commissioners (NAIC) standard nonforfeiture law. The NAIC minimum rate is determined in accordance with a formula, and cannot be less than 1.00% or more than 3.00% in any event. We determine whether the application of the formula will change the minimum guaranteed rate each November, and any change is effective the following January 1 for that calendar year. In addition, Mutual of America may credit interest to your contract amounts in the Interest Accumulation Account at a higher rate that we declare from time to time and which may increase or decrease at our sole discretion, although we are not obligated to credit interest in excess of the minimum guaranteed rate. If you participate in an existing Tax Deferred Annuity contract, you should refer to it before making a decision because it may have a guaranteed minimum rate in excess of the formula described above and the advertised declared rate. We compound interest daily on your contract amounts in the General Account to produce an effective annual yield that is equal to the stated interest rate.
The performance of the Separate Account investment options is not guaranteed, and any assets allocated to them may decrease or increase in value. For more specific information about our Separate Account investment options, including industry allocations and fund performance, please visit mutualofamerica.com.
Generally, withdrawals 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. Consult your tax adviser regarding your specific situation.
Mutual of America’s group and individual retirement products that are variable annuity contracts 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 options 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.
Allocation options
Your participants can choose from a guaranteed interest account* and funds from leading investment companies.
Generally, withdrawals 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. Consult your tax adviser regarding your specific situation.
*Guarantees are subject to the Company’s financial strength and claims-paying ability.
*Guarantees are subject to the Company’s financial strength and claims-paying ability.
Your plan is built for scale, service and efficiency
MULTIPLE EMPLOYER PLANS
Better Together
Provide your members with competitive
retirement benefits for their employees
A multiple employer plan lets you give your members a full range of retirement plan services, including a range of savings and investment options, streamlined administration and dedicated support from experienced plan specialists.
It’s the type of value-added program that can attract new members to your organization and help retain existing ones.
Enhance your membership value with a multiple employer retirement plan
Most of your members probably know that a solid, well-managed retirement plan can help attract and retain top talent as well as emphasize to their employees the importance of saving for the future. But many businesses, especially smaller ones, find plan administration costly and time-consuming.
Now, through Mutual of America, you can give your members a retirement plan that’s a compelling addition to your existing membership services.
Dedicated, full-service retirement plan support
Administrative fees waived
Dedicated participant services
Dedicated, full-service
retirement plan support
Our dedicated platform provides recordkeeping, administration and participant services. In fact, most daily tasks are automated through our SponsorConnect online plan administration system.
Learn More
You get a comprehensive array of retirement plan services
Mutual of America makes it easy for you to offer multiple employer retirement plan benefits to your members. You get:
Learn More
Learn More
Administrative fees waived
Mutual of America will waive employer-paid per-life and contract fees for plans with more than $1 million in assets. In addition, as your collective plan assets grow, plan participants will realize additional savings through reduced account charges.
The group plan is designed to encourage employees to save and invest. They can make direct salary contributions allocated among a robust array of options suitable for retirement saving and investing.
Mutual of America Participant Account Representatives are available for onsite plan education meetings, and they can provide answers to participants’ account questions. Our salaried representatives do not receive commissions. Account information and retirement planning tools are also available online.
Dedicated participant services
NEARLY
of workers participate in a retirement savings plan when offered one through their employer.¹
75%
47%
of employers believe lack of retirement readiness is the top financial concern of their workforce.²
¹Source: Pew analysis of U.S. Census Survey of Income and Program Participation, 2016.
²Deloitte 2019 Defined Contribution Benchmarking Survey Report.
you can allow any number of eligible employers to participate in the plan.
Unlimited employers
You can allow any number of eligible employers to participate in the plan.
Unlimited employers
No matter how many plans are merged into your multiple employer plan, you’ll only have one plan audit and be required to purchase one fidelity bond, and your members will no longer need to file their own Forms 5500. Your Mutual of America service team will help with the Form 5500 filing for the new plan as well as provide any needed information to your audit firm.
Streamlined administration
If your organization or any of your members have existing retirement plans, we can see if it makes sense to merge them with your new multiple employer plan, subject to Mutual of America’s underwriting guidelines and requirements.
Support for existing plans
Plan sponsors and fiduciaries are indemnified against claims brought against them with respect to the ERISA qualified plan investment funds offered under our contract, subject to certain terms and conditions.
Protection for plan fiduciaries
All participating members enjoy the same benefits and services, with no minimums on the number of participants or amount of assets. You’ll also be able to generate up-to-date reports at the plan level and by participating organization.
Want to offer a retirement plan with streamlined administration and dedicated support.
See the value of plan communication, investment tools and personalized participant service.
Closely watch the bottom line because every dollar counts.
Believe that strong benefits will boost morale and help them recruit and retain talent.
Recognize the importance of retirement readiness.
Want local service from an experienced team.
Stock market returns have been strong over the last decade, and declines in the equity market are not unexpected from time to time. However, past performance is no guarantee of future results.
Keep cool
Stay focused on
the long term
Forget about “timing” the market
Understand “dollar cost averaging”
Take advantage of the resources available
Keep cool
Your members need to be in related industries or trades, or have a principal place of business in the same region that does not exceed the boundaries of a single state or interstate “metropolitan area,” even if the metropolitan area includes more than one state.
What qualifications do my members need to participate in a multiple employer plan?
1
2
3
4
5
Want to offer a multiple employer plan to your members?
Here are 5 frequently asked questions:
What qualifications do my members need to participate in a multiple employer plan?
How does the multiple employer retirement plan work in practice?
How will our plan be treated under the Employee Retirement Income Security Act (ERISA)?
What are members’ fiduciary responsibilities within the multiple employer plan?
What about the “one-bad-apple” rule?
Your organization acts as the plan’s sponsor, while your members join the plan through participation agreements. While the primary structure of the plan is adopted by all participating employers, variations on certain plan features are included in an adoption or participation agreement.
How does the multiple employer retirement plan work in practice?
A multiple employer plan is treated as a single plan under ERISA. Only one Form 5500 must be filed, and only one fidelity bond must be purchased covering the aggregated plan assets.
How will our plan be treated under the Employee Retirement Income Security Act (ERISA)?
Most fiduciary responsibility resides with the plan’s sponsor, such as choosing and monitoring the plan’s investment alternatives, Form 5500 filings and sending out required participant communications. All other participating members’ responsibilities may be limited to deciding to join the plan, depending on how the participation or adoption agreement is structured.
What are members’ fiduciary responsibilities within the multiple employer plan?
This former regulation held that all of the member employers of a multiple employer plan were responsible for the disqualifying actions of any of the others. The SECURE Act eliminated the “one-bad-apple” rule for plan years beginning in 2021, clearing the way for greater multiple employer plan adoption.
What about the “one-bad-apple” rule?
MULTIPLE EMPLOYER PLANS
Provide your members with competitive retirement benefits for their employees
Better Together
75%
75%
47%
Mutual of America makes it easy for you to offer multiple employer retirement plan benefits to your members. You get:
Most of your members probably know that a solid, well-managed retirement plan can help attract and retain top talent as well as emphasize to their employees the importance of saving for the future. But many businesses, especially smaller ones, find plan administration costly and time-consuming.
Now, through Mutual of America, you can give your members a retirement plan that’s a compelling addition to your existing membership services.
All participating members enjoy the same benefits and services, with no minimums on the number of participants or amount of assets. You’ll also be able to generate up-to-date reports at the plan level and by participating organization.
1
Your members need to be in related industries or trades, or have a principal place of business in the same region that does not exceed the boundaries of a single state or interstate “metropolitan area,” even if the metropolitan area includes more than one state.
This former regulation held that all of the member employers of a multiple employer plan were responsible for the disqualifying actions of any of the others. The SECURE Act eliminated the “one-bad-apple” rule for plan years beginning in 2021, clearing the way for greater multiple employer plan adoption.
What about the “one-bad-apple” rule?
5
Your organization acts as the plan’s sponsor, while your members join the plan through participation agreements. While the primary structure of the plan is adopted by all participating employers, variations on certain plan features are included in an adoption or participation agreement.
2
Most fiduciary responsibility resides with the plan’s sponsor, such as choosing and monitoring the plan’s investment alternatives, Form 5500 filings and sending out required participant communications. All other participating members’ responsibilities may be limited to deciding to join the plan, depending on how the participation or adoption agreement is structured.
What are members’ fiduciary responsibilities within the multiple employer plan?
4
A multiple employer plan is treated as a single plan under ERISA. Only one Form 5500 must be filed, and only one fidelity bond must be purchased covering the aggregated plan assets.
How will our plan be treated under the Employee Retirement Income Security Act (ERISA)?
3
How does the multiple employer retirement plan work in practice?
What qualifications do my members need to participate in a multiple employer plan?
3
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important information
Connect with us:
As a trusted retirement plan services provider, Mutual of America offers retirement plan services nationwide to organizations and their employees. Since 1945, we have been dedicated to providing retirement products with the highest level of personal service to help plan participants build the assets they need to support the life they want in retirement. When it comes to retirement plan services, our experience, expertise and guidance are known and respected throughout the industry.
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 800.468.3785 or visiting mutualofamerica.com. Read them carefully before investing.
Ready to get started? Mutual of America is here to help.
Mutual of America Life Insurance Company
320 Park Avenue, New York, NY 10022-6839
mutualofamerica.com • 800.468.3785
Securities offered by Mutual of America Securities LLC, Member FINRA/SIPC.
Insurance products are issued by Mutual of America Life Insurance Company.
Mutual of America’s group and individual retirement products that are variable annuity contracts 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 options 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.
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 800.468.3785 or visiting mutualofamerica.com. Read them carefully before investing.
For more information, contact your local Mutual of America office.
One of our licensed rollover representatives will answer any questions and will help you consolidate your accounts.
Maximize the value of your employer-sponsored retirement plan and take advantage of everything we can offer you every step of the way on your journey to retirement.
Call Now
866.954.4321
Download the Brochure
+ click here for
important information
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 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 options 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.
Mutual of America Life Insurance Company
320 Park Avenue, New York, NY 10022-6839
mutualofamerica.com • 800.468.3785 •
Securities offered by Mutual of America Securities LLC, Member FINRA/SIPC.
Insurance products are issued by Mutual of America Life Insurance Company.