MULTIPLE EMPLOYER PLAN

Build BetterRetirements

Offer full-service retirement benefits to your employees.

Enhance your employee benefits by joining a multiple employer retirement planAs a member of the sponsoring organization, you’re eligible to enroll in its multiple employer plan, offered through Mutual of America. It’s a single retirement plan, created exclusively for the benefit of members’ employees.

You’ll be able to give your staff a qualified retirement plan that offers a full range of savings and investment options, easy-to-use online account management and dedicated support from experienced representatives.

There’s no additional cost for your organization to join the multiple employer plan—Mutual of America’s investment and administrative services are offered as part of your membership.

You get a comprehensive array of retirement plan services Mutual of America’s retirement plan services and support help you offer retirement benefits that are easy to administer. You’ll find that the multiple employer plan is:

Easy to provideMutual of America, in conjunction with the sponsoring organization, handles recordkeeping and participant services. You’ll have virtually no day-to-day administrative tasks.

Cost-efficientAs the collective plan assets grow, participating employees will realize savings through reduced account charges.

Dedicated to participant serviceThe group plan is designed to encourage your employees to save and invest. They can make direct salary contributions allocated among a diverse array of retirement savings and investing options.

Mutual of America’s Participant Account Representatives are available for onsite or virtual plan education meetings, and they can provide answers to participants’ individual questions. Our salaried representatives do not receive commissions. Account information and retirement planning tools are also available online.

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1 Source: Pew Analysis of U.S. Census Survey of Income and Program Participation, 2016.2 Source: Deloitte 2019 Defined Contribution Benchmarking Survey Report.

75%

47%

of workers participate in a retirement savings plan when offered one through their employer.1

of employers believe that lack of retirement readiness is the top financial concern of their workforce.2

NEARLY

Your plan is built for scale, service and efficiency You probably know that a solid, well-managed retirement plan can help attract and retain top talent as well as emphasize to your employees the importance of saving for the future. But many organizations, especially smaller ones, find plan administration costly and time-consuming. Now you can enhance your employee benefits package quickly, easily and without hassle.

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Support for existing plansIf you have an existing retirement plan, it may make sense to merge it with the sponsoring organization’s multiple employer plan. (The combination is subject to Mutual of America’s underwriting guidelines and requirements.)

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 on your plan’s activity.

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The multiple employer plan may be right for your organization if you...

Want local service from an experienced team.

Recognize the importance of retirement readiness.

Believe that strong benefits will boost morale and help you recruit and retain talent.

Want to offer a retirement plan with streamlined administration and dedicated support.

Want to take full advantage of this additional member benefit.

See the value of plan communication, investment tools and personalized participant service.

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Here are some frequently asked questions about the multiple employer retirement plan

Q: How does the multiple employer retirement plan work in practice?

A: Even though the plan covers the employees of more than one employer, the sponsoring organization serves as its sole plan sponsor. You can join the plan through a participation agreement. While the primary structure of the plan is adopted by all participating employers, variations on certain plan features are included in an adoption agreement.

Q: How is the plan treated under the Employee Retirement Income Security Act (ERISA)?

A: This multiple employer plan is treated as a single plan under ERISA. Only one Form 5500 must be filed by the sponsoring organization, and only one fidelity bond must be purchased covering the aggregated plan assets. Beginning in 2021, multiple employer plans will not need to have an annual plan audit if the total participant count is less than 1,000 and each participating employer has less than 100 participants.

Q: What are my fiduciary responsibilities within the multiple employer plan?

A: Most fiduciary responsibility resides with the sponsoring organization, including acting as the plan’s sponsor, choosing and monitoring the plan’s investment alternatives, handling Form 5500 filings and sending out required participant communications.

Q: What about the “one-bad-apple” rule?

A: 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.

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Ready to get started? Mutual of America is here to help.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 employees an effective way to prepare for tomorrow.

Visit us at

mutualofamerica.comto find out more

Call your local office or

866.954.4321to speak with a Mutual of America representative

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MEP-MEM © 2020 Mutual of America Life Insurance Company. 10/20

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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® is a registered service mark of Mutual of America Life Insurance Company.

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.