Thread regarding Mutual of America Life layoffs

We Need a Better 401(k) Plan

They took away our pension. Slashed the 401k contribution. Took away a lot of the life insurance. Gutted retiree healthcare. Benefits have been cut. They added Pet Insurance with our competitor - Nationwide. But, many of us are really P-i-s-sed that even after the 401k lawsuit, layoffs, and settlement, the 401(k) su-ks. No new investment options. Not even a Self Directed Brokerage Option !! Total BS. Throw us a bone ! The vast majority of company like Mutual have a SDBO. We don't we need one. Limit it to ETF and Mutual Funds Only. Throw in some CITs into the standard line up too. Self Directed through Schwab, TD Ameritrade, would go over very well and would be very popular. For Crissakes, our clients dont even have brokerage and that is a big problem. Solves the fund selection problem just like that:

Steve Rich, Ms. Flavors, Conway, Board: GET US A BROKERAGE OPTION IN THE 401k.

Please, please, please. Help us. Throw us a big Milky Bo--r.

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| 771 views | | 6 replies (last April 1, 2025) | Reply
Post ID: @OP+1jq85kesf

6 replies (most recent on top)

Company needs a big MVA or surrender charged on its fixed assets. Having the liquid the firm always gets caught with its pants down and its dique flapping in the wind. Also, needs managed assets in the 401k and 403b. Mutual is running back as-swards. It's not afraid to cut fees but feels guilty about raising revenue. Uh oh "Rome is BURNING."

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Post ID: @18a+1jq85kesf

Mutual doesn't make that sweet sweet annuity "mortality and expense" on outside options. How are you going to stay in business if you give yourselves and all the clients still there an option NOT to use those amazing "high marks" Mutual of America funds?
You know, the ones so good they are exclusive.

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Post ID: @16y+1jq85kesf

Get us a brokerage account

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Post ID: @qj+1jq85kesf

The 401k contribution was slashed from 9% to 6%

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Post ID: @e3+1jq85kesf

Don't worry, you won't be at the company long enough for any change to the 401K to matter to you.

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Post ID: @cb+1jq85kesf

Was the Company matching contribution to the 401(k) plan reduced?

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Post ID: @c6+1jq85kesf

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