HSC is pleased to be working with Mutual of America to offer its members retirement plan benefits. In 2005, HSC offered its employees retirement planning through Mutual of America. We were so impressed by their products and services that we have offered Mutual of America as a retirement plan service provider for our members since 2006. Today, about half of HSC’s members enjoy a relationship with Mutual of America. In 2010, Mutual of America was ranked first in Investment Services and third in Recordkeeping and Administrative Services among service providers for plans in the $1 million to $10 million retirement plan market by 401kExchange. Mutual of America’s high rankings were reported in the 401kExchange 2010 Mid-Year Ratings and Market Share Report, a national survey of current customers of companies in the group employer market.

Mutual of America has been working with nonprofit organizations since 1945 and has a solid reputation for superior customer service. They have shown their continued support for HSC and the nonprofit community through their sponsorship of our annual Leadership Awards Reception and their annual Community Partnership Award.

Through our relationship with Mutual of America, certain plan-related administrative charges are waived for HSC members who use Mutual of America’s Defined Contribution Retirement Plans and utilize Mutual of America’s Hotline Plus Internet-based system to administer their retirement plans. Organizations who are members of HSC qualify for a waiver of all monthly plan administrative fees, including those charged to the agency or to individual employees, for any Defined Contribution-type Plan (401a, 401k, or 403b). In fact, many of HSC’s members have found their dues are offset by the savings they recoup from Mutual of America’s fee-waivers. For executive management staff seeking additional tax deferral and retirement savings above their 403b or 401k plan limit, Mutual of America offers its 457b Eligible Deferred Compensation Plan to HSC member agencies without setup charges or employer administrative fees. These waivers apply to both existing and to new Mutual of America clients. Click here for information on how to transfer your retirement plan.

HSC and member agencies using Mutual of America retirement programs have already realized cost savings – and they enable agencies to supplement or provide retirement plans to their employees. Another benefit of working with Mutual of America is the ease with which agencies and their employees can manage their accounts online or receive eDocuments.

For more information about Mutual of America, you can call them at 1-800-468-3735 or visit their website.