As a Mutual of America representative, I stay on top of what’s happening in our industry to be prepared for every conversation I have with an employer, board member and employee.”
Field Vice President,
Los Angeles Regional Office,
Mutual of America
Our Regional Office teams are proactive about service. We visit annually with plan sponsors and boards of directors for an in-depth plan review to help them meet their fiduciary responsibilities related to oversight of their plan, updating them on the services that we provide; talking to them about the performance of the investment funds available under their plan; disclosing our fees; and giving them various reports that benchmark investment performance, services and fees so that clients can see whether our funds and our fees are competitive. We’ll also review their employees’ contribution rates and discuss plan design changes to make their plan a more valuable benefit for their employees.
Employers can offer important benefits, but if their workers don’t understand them, they typically won’t participate. When meeting with employees, we help individuals of all levels of financial sophistication understand the retirement plan and the saving and investment options available to them. Many have never learned about financial wellness — the ability to balance competing short-term and long-term financial needs. This is where we start, for this broader competency allows them to begin thinking about setting aside even a small percentage of their salary towards retirement and can help lead them to long-term financial security.
All the Regional Office sales and service representatives complete annual training to learn about enhancements to our retirement products and investment services, new regulatory requirements and trends in the financial services industry. These training sessions develop our confidence, industry knowledge and professional skills; they also develop the teamwork that is the cornerstone of Mutual of America’s service model.