Letter from
Chairman, President and Chief Executive Officer
John R. Greed

As I write this letter in mid-April of 2020, our nation is experiencing a critical moment in its history, one that is disrupting our way of life and has altered, in the near term, how, when, where and with whom we gather, travel, conduct business and enjoy entertainment—in short, how we live our daily lives. Like many of you, I had hoped and prayed that the initial 15-day period of nationwide social distancing to slow the spread of the coronavirus would have been enough time to win the battle against this deadly, invisible enemy. However, this unprecedented and challenging situation continues to have far-reaching consequences.

About 17 million Americans recently lost their jobs, based on initial jobless claims reported—far exceeding forecasts. Unemployment is approaching 13%, exceeding its peak following the financial crisis of 2008–09, and will likely go higher in the weeks ahead. Furthermore, despite the recently enacted Coronavirus Aid, Relief, and Economic Security (CARES) Act and other COVID-19-related relief and economic stimulus initiatives of more than $3 trillion to date, many organizations, both for-profit and nonprofit, are likely to experience significant financial challenges into the foreseeable future.

No question, this is an unprecedented, stressful time. Yet, we have witnessed inspiring selfless and caring acts displayed by tens of thousands of individuals who are on the front lines battling the coronavirus and helping those affected to recover. On behalf of everyone at Mutual of America, I want to thank our thousands of clients, colleagues and friends, especially those from the nonprofit social welfare and health and human services sectors, who are making such a meaningful impact in the communities where we all live and work.

During volatile and uncertain times like these, it is even more important that our clients stay connected with us. Rest assured that the 1,100-strong team of employees at Mutual of America Financial Group is well prepared and available, as always, to address your retirement and investment needs, questions and concerns. Helping our clients stay focused on achieving their retirement and investment goals, especially through challenging times, is the hallmark of who we are as a Company and what we have been doing successfully for 75 years.

As a nation, we’ve been through other challenges in the past that seemed, at the time, insurmountable. Each time, we’ve put aside fear and panic and worked together to emerge stronger than ever as a country. And there is no doubt in our hearts and minds that we will do so once again.

With our Company’s 75th anniversary on the horizon, 2019 was a year of reflection regarding our future and of significant transition in which we reasserted our creative and innovative spirit, unyielding determination, technological know-how, unmatched retirement savings product expertise and cherished values. Our future came into greater focus as we introduced our new trade name, Mutual of America Financial Group, and logo. This was done to convey more clearly who we are, what we have done successfully for 75 years—retirement services and investments—and where we are going. Our future will include a new array of products and services, including offering 403(b) and 401(k) Thrift plans through a net-asset-value trustee administrative platform, as well as providing investment advice and wealth management services and guaranteed income streams for those already retired, just to name a few.

During 2019, we also invested in new and innovative capabilities to accelerate our growth and position ourselves to succeed in a retirement savings and investments market that promises to be even more dynamic in the years ahead. This included investments in advanced technologies and data analytics that will enable us to provide both game-changing and ongoing innovations in connection with the various high-touch and high-tech ways we serve customers across the country.

For example, the implementation of Salesforce’s customer relationship management system and the introduction of our Payroll Integration service enhance the customer experience, while providing new ways to streamline and tailor our business processes and further improve our efficiency and effectiveness through artificial-intelligence-driven data analytics. We also partnered with FIS—a global leader in retirement technology solutions—to integrate their leading-edge, online OMNI-solution recordkeeping platform into our operations in 2020.


In 2020, we will be providing the easy access, transparency and expanded fund choices that today’s retirement savers need and want.

As we look at 2020, despite the challenges ahead, this will also be a year of great opportunity, innovation and change. We will roll out new investment funds; enhanced investment services; expanded retirement savings plan features; and a new interactive web portal, mobile app and Retirement Readiness Score so plan participants can more easily manage and assess their retirement savings progress.

The transformative power of innovation to improve our workflows, strengthen our products and services, and deepen our connection with customers, combined with the tremendous dedication and efforts of our employees, gives me great confidence that Mutual of America Financial Group is well positioned for the future.

Indeed, 2019 was a year of significant reflection and transition for Mutual of America Financial Group, one that will help shape our Company for many years to come. And, as we celebrate our 75th anniversary in 2020, we look forward to embracing the future together.

Thank you for placing your trust in us. We remain committed to doing everything we can to help you and future generations successfully achieve your retirement and investment goals.

Working together, we will prevail.

John R. Greed John R. Greed Chairman, President and Chief Executive Officer