Benefits for employers

• Funded in part from dollars paid as salary and employer contributions, up to certain statutory limits.
• Helps attract and retain quality employees.
• Helps your employees build retirement security.

Benefits for employees

• Easy to save through payroll deduction.
• Choice of how much to save, subject to applicable lRS limits.
• Savings amounts can be adjusted as needs change.
• May reduce taxable income.
• Defers taxes on the amount saved and earned, until the participant receives benefits. Generally, withdrawals are subject to income tax at a participant's ordinary income tax rate at the time of withdrawal and may be subject to a 10% federal tax penalty, unless an exception applies.

Our administrative services, designed for the service level you select, include:

• Plan documents, amendments, restatements and Summary Plan Description.
• Recordkeeping and other administrative services, including those required to comply with 403(b) regulations.
• lnvestment-related services, including making investment options available from which you or your investment fiduciary may select an investment menu to be made available to your plan participants.
• Employee education, communication and enrollment.

Your local Mutual of America office can provide a complete list of services we provide.

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Enhance your employees' retirement planning choices by providing them with an additional option to make Designated Roth 403(b) Contributions on an after-tax basis, under your retirement plan. Qualified distributions¹ from designated Roth accounts are completely free of federal tax. 

Distributions from Designated Roth Accounts that don’t meet the requirements described above will be taxed as ordinary income to the extent attributable to earnings, and may also be subject to a 10% early-distribution tax penalty.