Mutual of America Life Insurance Company is an American provider of retirement services and investments to employers, employees and individuals. Founded in 1945, the company provides products and services to help its customers build and preserve assets. Mutual of America is a

Fortune 1000 {{location map+ , United States , float=right , width=400, relief=1 , caption=''Fortune'' 1000 company headquarters locations. Top 20 companies labeled, places= {{location map~ , United States , lat= 36.365378 , long= -94.217629 , label= Walmart, ...

mutual company A mutual organization, also mutual society or simply mutual, is an organization (which is often, but not always, a company (law), company or business) based on the principle of mutuality and governed by private law. Unlike a cooperative, members ...

headquartered in

Manhattan Manhattan ( ) is the most densely populated and geographically smallest of the Boroughs of New York City, five boroughs of New York City. Coextensive with New York County, Manhattan is the County statistics of the United States#Smallest, larg ...

New York City New York, often called New York City (NYC), is the most populous city in the United States, located at the southern tip of New York State on one of the world's largest natural harbors. The city comprises five boroughs, each coextensive w ...

. The company had $26.4 billion in total assets under administration and served more than 500,000

401(k) In the United States, a 401(k) plan is an employer-sponsored, defined-contribution, personal pension (savings) account, as defined in subsection 401(k) of the U.S. Internal Revenue Code. Periodic employee contributions come directly out of their ...

and

403(b) In the United States, a 403(b) plan is a U.S. tax-advantaged retirement savings plan available for public education organizations, some non-profit employers (only Internal Revenue Code 501(c)(3) organizations), cooperative hospital service organiz ...

retirement plan participants from more than 5,000 clients nationwide, as of December 31, 2023. Mutual of America is the majority owner of its corporate headquarters building at 320 Park Avenue, which it purchased in 1992. The company also has a corporate campus and training center in

Boca Raton Boca Raton ( ; ) is a city in Palm Beach County, Florida, United States. The population was 97,422 in the 2020 United States census, 2020 census and it ranked as the 23rd-largest city in Florida in 2022. Many people with a Boca Raton Address, ...

, FL, which it opened in 1988. It has nearly 60 Regional Offices and affiliate offices throughout the U.S., including in New York City,

Boston Boston is the capital and most populous city in the Commonwealth (U.S. state), Commonwealth of Massachusetts in the United States. The city serves as the cultural and Financial centre, financial center of New England, a region of the Northeas ...

Atlanta Atlanta ( ) is the List of capitals in the United States, capital and List of municipalities in Georgia (U.S. state), most populous city in the U.S. state of Georgia (U.S. state), Georgia. It is the county seat, seat of Fulton County, Georg ...

Chicago Chicago is the List of municipalities in Illinois, most populous city in the U.S. state of Illinois and in the Midwestern United States. With a population of 2,746,388, as of the 2020 United States census, 2020 census, it is the List of Unite ...

Minneapolis Minneapolis is a city in Hennepin County, Minnesota, United States, and its county seat. With a population of 429,954 as of the 2020 United States census, 2020 census, it is the state's List of cities in Minnesota, most populous city. Locat ...

Denver Denver ( ) is a List of municipalities in Colorado#Consolidated city and county, consolidated city and county, the List of capitals in the United States, capital and List of municipalities in Colorado, most populous city of the U.S. state of ...

Dallas Dallas () is a city in the U.S. state of Texas and the most populous city in the Dallas–Fort Worth metroplex, the List of Texas metropolitan areas, most populous metropolitan area in Texas and the Metropolitan statistical area, fourth-most ...

, Phoenix,

Los Angeles Los Angeles, often referred to by its initials L.A., is the List of municipalities in California, most populous city in the U.S. state of California, and the commercial, Financial District, Los Angeles, financial, and Culture of Los Angeles, ...

and

San Francisco San Francisco, officially the City and County of San Francisco, is a commercial, Financial District, San Francisco, financial, and Culture of San Francisco, cultural center of Northern California. With a population of 827,526 residents as of ...

History

Mutual of America Financial Group was founded in 1945. It specialized in retirement products for nonprofit organizations. In 1976, Mutual of America moved its headquarters into at

666 Fifth Avenue 660 Fifth Avenue (formerly 666 Fifth Avenue and the Tishman Building) is a 41-story office building on the west side of Fifth Avenue between 52nd and 53rd Streets in the Midtown Manhattan neighborhood of New York City, United States. The off ...

. In 1992, Mutual of America bought a 34-story building at 320 Park Avenue in New York from

Olympia and York Olympia & York (also spelled as Olympia and York, abbreviated as O&Y) was a major international property development firm based in Toronto, Ontario, Canada. The firm built major financial office complexes including Canary Wharf in London, the W ...

for $130 million, and turned it into the Mutual of America building. The building had been occupied by

ITT Inc. ITT Inc., formerly ITT Corporation, is an American worldwide manufacturing company based in Stamford, Connecticut. The company produces specialty components for the aerospace, transportation, energy and industrial markets. ITT's three businesses ...

up until 1990. The building's redesign was managed by

Swanke Hayden Connell Architects Swanke Hayden Connell Architects was an international architecture, interiors and historic preservation firm with U.S. headquarters in New York City. History The firm was founded in New York in 1906 by Alexander Stewart Walker (1876–1952) and ...

. In 1971, William Flynn became the president of Mutual of America. He became the CEO the following year, and the chairman in 1982. In 2005, he became the company chairman emeritus of Mutual of America. In 1992, Thomas J. Moran was named president of the company, the first person to have been appointed president from within the company. He was named CEO in 1995 and in June 2005, he was appointed chairman of the board. Mutual of America remained profitable throughout the

subprime mortgage crisis The American subprime mortgage crisis was a multinational financial crisis that occurred between 2007 and 2010, contributing to the 2008 financial crisis. It led to a severe economic recession, with millions becoming unemployed and many busines ...

. In 2016, Thomas J. Moran retired as CEO and John R. Greed replaced him, becoming both president and CEO. In 2018, John Greed became chairman of the board following Thomas Moran's decision to retire from the company. Thomas Moran was named Chairman Emeritus, a position he held until his death in August 2018. John Greed joined the company in 1996. In June 2024, Brian Q. Severin was appointed president in place of John Greed, who retained the positions of Chairman and CEO. In July 2024, Stephen J. Rich was appointed chairman of the board and CEO, succeeding John Greed.

Products & Services

Mutual of America offers a variety of retirement savings and investments. It primarily offers investment products, such as 401(k) plans and 403(b) plans, 457(b) plans, and individual products such as Traditional IRAs and Roth IRAs.

Mutual of America Capital Management LLC

Capital Management is an SEC-registered investment adviser and an indirect, wholly owned subsidiary of Mutual of America Life Insurance Company. It was formed in 1993 and operates as an investment management company serving institutional clients and an investment adviser to MoA Funds. Capital Management offers portfolio management and investment advisory services to customers in the United States. Its MoA Funds are available to the financial adviser channel and investors outside of Mutual of America's retirement plans. As of February 2024, Capital Management managed approximately $28 billion and offered 28 funds with an array of asset classes and objectives, including equity, fixed income, international, asset allocation funds and target-date funds.

Philanthropy

Community Partnership Award

The Mutual of America Foundation Community Partnership Award began in 1996. It is an annual award given for outstanding contributions U.S. nonprofit organizations make to society in partnership with public, private and other social sector organizations. Hundreds of organizations participate in a national competition each year. In 2023, six organizations were awarded. As of March 2024, 262 partnerships have been recognized. The winning organizations are selected by an independent committee to receive the Community Partnership Award. The Thomas J. Moran Award is given to the national award-winning program and includes $100,000 and a documentary video about the program. The Frances R. Hesselbein Award is given to a partnership that is addressing social challenges in more than one community, or which demonstrates the potential to be replicated in other communities. This recipient receives $75,000. Four other organizations are named Honorable Mention recipients for their programs, and each receives $50,000.

Breast Cancer Walk

Mutual of America is the exclusive Flagship Sponsor for the American Cancer Society’s Making Strides Against Breast Cancer Walk in New York, which helps fund research in the fight against breast cancer and the many programs the American Cancer Society offers. Mutual of America has helped raise more than $4 million over the walk’s 30-year history.

Governance

Board of directors

* Chairman of the Board: Stephen J. Rich * Matthew J. Adams (former Senior Partner, U.S. Insurance Practice Leader) *Rosemary T. Berkery, Esq. (former Chairman and CEO, UBS Bank USA) *Gwendolyn Hatten Butler (former President and CIO Capri Investment Group) *

Kimberly Casiano Kimberly Casiano (born December 21, 1957) is an American businesswoman of Puerto Rican descent. She is the former president and chief operating officer of Casiano Communications — the largest Hispanic publisher of periodicals and magazines ...

(President, Kimberly Casiano & Associates Inc.) * Wayne A.I. Frederick, M.D. (Charles R. Drew Professor of Surgery & Immediate Past President,

Howard University Howard University is a private, historically black, federally chartered research university in Washington, D.C., United States. It is classified among "R1: Doctoral Universities – Very high research activity" and accredited by the Mid ...

, Washington D.C.) *Maurine A. Haver (Founder and CEO, Haver Analytics, Inc.) * Robert J. McGuire, Esq. (former NYC Police Commissioner) * Ellen Ochoa, Ph.D. (former Astronaut and Director of

NASA The National Aeronautics and Space Administration (NASA ) is an independent agencies of the United States government, independent agency of the federal government of the United States, US federal government responsible for the United States ...

Johnson Space Center) * Roger B. Porter (

IBM International Business Machines Corporation (using the trademark IBM), nicknamed Big Blue, is an American Multinational corporation, multinational technology company headquartered in Armonk, New York, and present in over 175 countries. It is ...

Professor of Business and Government at

Harvard University Harvard University is a Private university, private Ivy League research university in Cambridge, Massachusetts, United States. Founded in 1636 and named for its first benefactor, the History of the Puritans in North America, Puritan clergyma ...

) *Paula A. Price (former Executive, CFO and Advisor) * General Dennis Reimer (33rd Chief of Staff of the

Army An army, ground force or land force is an armed force that fights primarily on land. In the broadest sense, it is the land-based military branch, service branch or armed service of a nation or country. It may also include aviation assets by ...

)

References

External links

* *
Mutual of America Profile
''Fortune.''
Mutual of America Office Locator
{{DEFAULTSORT:Mutual Of America Financial services companies established in 1945 1945 establishments in New York (state) Life insurance companies of the United States Companies based in New York City Mutual insurance companies of the United States Insurance companies based in New York City American companies established in 1945