Mutual of America

What Mutual of America does

Mutual of America Financial Group, founded in 1945 and headquartered at 320 Park Avenue in New York, is a privately held mutual life insurance company owned by its policyholders rather than external shareholders. The firm specializes in retirement products and services, operating across all 50 U.S. states through regional offices and serving five employer verticals (Nonprofit, Business, Governmental, Tribal, Values-Based) plus individual retirement savers. Core employer offerings include 401(k), 403(b), 401(a), and 457 Deferred Compensation plans, while the individual channel comprises Traditional, Roth, Rollover, Managed, Self-Select, and Inherited IRAs alongside a Flexible Premium Annuity. A subsidiary, Mutual of America Capital Management LLC (formed 1993, SEC-registered investment adviser), manages approximately $31 billion across 29 funds including equity, fixed income, international, asset allocation, and target-date vehicles; the MoA Balanced Fund and MoA Clear Passage target-date series have received consecutive LSEG Lipper Fund Awards through 2026.

The business generates revenue primarily through recurring, asset-based fees: plan administration and recordkeeping charges from employer-sponsored plans, account maintenance and investment management fees from individual retirement products, and investment management fees on the mutual fund family. Distribution is dual-channel — employer relationships driven by field sales and direct-to-consumer individual retirement products opened online through the My Account portal, supported by an AI-powered chatbot (MoA Virtual Assistant) that handles FAQ and general guidance without account-level access. The firm holds financial strength ratings of A.M. Best A-, S&P Global Ratings A-, and Fitch BBB+, and operates wholly owned subsidiaries including Mutual of America Securities LLC and Mutual of America Retirement Services LLC, with Landmark Life Insurance Company added in 2022 to extend product reach beyond New York.

In 2025-2026, Mutual of America has accelerated modernization, including the September 2025 launch of the MoA Managed IRA, a March 2025 sales operations restructuring, multiple senior leadership appointments, and a June 2026 strategic collaboration with Accenture and FIS to transform retirement recordkeeping and participant services technology.

Name

Mutual of America

Legal name

Mutual of America Life Insurance Company

Website

https://mutualofamerica.com

Company type

Private

Founded year

1945

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Mutual of America is a privately held mutual life insurance company founded in 1945 that provides employer-sponsored retirement plans (401(k), 403(b), 457, 401(a)) and individual retirement products (IRAs, annuities) to organizations and savers across all 50 U.S. states, with approximately $31B in managed mutual fund assets.

Ownership category

akta.pro rank

Product category

Retirement Services and Insurance

NAICS

Pension Funds (525110), Funds, Trusts, and Other Financial Vehicles (525), Other Insurance Funds (52519)

SIC

Life Insurance (6311)

akta.pro primary industry

Corporate & Public Pension Funds (DB/DC Sponsors) (FSAAAGAA)

akta.pro secondary industries

Retirement & Pension Wealth (401(k)/IRA/SIPP/Superannuation Retail) (FSAAAAAJ), Pension Master Trusts, Superannuation & Provident Funds (FSAAAGAB), Fixed Income Mutual Funds (FSAAAEAB)

Keywords

• Retirement plan services
• Employer-sponsored pensions
• Individual retirement accounts
• Mutual fund management
• Annuity products

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Retirement Plan Services: Administrative and recordkeeping services for employer-sponsored retirement plans including 401(k), 403(b), 457, and 401(a) plans. Revenue generated through plan administration fees, asset-based charges, and participant account fees.
2. Individual Retirement Products: Traditional IRA, Roth IRA, Flexible Premium Annuity, and other individual retirement accounts. Revenue from account maintenance fees and investment management charges.
3. Mutual Fund Management: Mutual of America Capital Management LLC manages approximately $31 billion across 29 funds including equity, fixed income, international, asset allocation, and target-date funds. Revenue from investment management fees.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Mutual of America Financial Group provides retirement savings products and services through employer-sponsored workplace plans (401(k), 403(b), 457 Deferred Compensation, 401(a)) for nonprofit, business, governmental, and tribal entities, as well as individual retirement products (Traditional IRA, Roth IRA, Rollover IRA, Flexible Premium Annuity, Managed IRA, Self-Select IRA, Inherited IRA). It also manages a family of mutual funds through Mutual of America Capital Management LLC, overseeing approximately $31 billion across 29 funds including equity, fixed income, international, asset allocation, and target-date offerings.

Product overview

Mutual of America Financial Group operates as a retirement products and services provider offering a comprehensive suite of retirement savings and investment solutions. The company architecture consists of employer-sponsored retirement plans (401(k), 403(b), 401(a), 457 Deferred Compensation) for organizations across nonprofit, business, governmental, tribal, and values-based sectors, alongside individual retirement products (Traditional IRA, Roth IRA, Rollover IRA, Flexible Premium Annuity, Managed IRA, Self-Select IRA, Inherited IRA). The product portfolio also includes a mutual fund family (MoA Funds) managed by affiliated Mutual of America Capital Management LLC, offering 29 funds across equity, fixed income, international, and asset allocation categories, including the MoA Balanced Fund and target-date Clear Passage funds. All offerings are supported by online account management platforms, retirement calculators, and educational resources through the Insights & Tools section.

Differentiator

Problem solved

Functional benefit

Products and services

• 401(k) Plan Employer-sponsored defined contribution retirement plan allowing employees to make pre-tax salary deferrals. Supports automatic enrollment, payroll integration, and online salary deferral management. For employers offering workplace retirement benefits.
• 403(b) Plan Tax-deferred annuity plan for employees of public schools and certain tax-exempt organizations. Allows participants to contribute a portion of their salary to the plan. For nonprofit, public education, and tax-exempt employers.
• 401(a) Plan Employer-funded defined contribution plan typically used by governmental and private employers to provide retirement benefits for employees.
• 457 Deferred Compensation Plan Non-qualified deferred compensation plan for government employees allowing pre-tax contributions separate from other retirement plans.
• Traditional IRA Individual retirement account allowing tax-deductible contributions with earnings growing tax-deferred until withdrawal. Includes Spousal IRA option. For individual savers.
• Roth IRA Individual retirement account funded with after-tax dollars allowing tax-free qualified withdrawals in retirement. Supports conversion from other retirement accounts. For individual savers.
• Rollover IRA Individual retirement account that accepts transfers from employer-sponsored retirement plans, consolidating retirement savings.
• Flexible Premium Annuity Deferred annuity product offering tax-deferred accumulation with flexible contribution options for individuals. Includes retirement income options.
• Managed IRA Professionally managed IRA option where portfolio management is handled by Mutual of America Capital Management for investors seeking guided retirement investing. For individual savers.
• Self-Select IRA Self-directed IRA allowing individuals to choose and manage their own investment selections from available fund options.
• Inherited IRA

Quantifiable outcome

• MoA Balanced Fund recognized as Best Mixed-Asset Target Allocation Moderate Fund Over 3 Years (out of 117 funds) and Over 5 Years (out of 113 funds)
• +1 more outcomes

Named customers4 records

Segments6 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature3 records

Partnerships

Three partnerships are on record, tiered core and minor.

• AccenturecoreTechnology or Integration · 10 June 2026Mutual of America is collaborating with Accenture to transform retirement recordkeeping and participant services, modernizing their technology infrastructure and service delivery capabilities.
• FIS (Fidelity National Information Services)coreTechnology or Integration · 10 June 2026Partnership with FIS to transform retirement recordkeeping and participant services, enabling improved technology capabilities and service processing for plan sponsors and participants.
• Foreside Fund Services, LLCminorChannel Partner/ Reseller/ DistributorMutual of America funds are distributed by Foreside Fund Services, LLC.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• TIAA: TIAA is the closest comparable peer: a mission-driven, nonprofit-affiliated provider of retirement plans, IRAs, and annuities for nonprofit, academic, governmental, and healthcare employers. It overlaps directly with MoA's core segments, product mix, and nonprofit/governmental specialization.
• Empower Retirement: Empower is a large DC recordkeeper serving employer-sponsored 401(k) plans with administrative, investment, and communication services — directly competing with MoA's retirement services subsidiary for the same plan sponsor RFPs.
• Principal Financial Group: Principal offers employer-sponsored retirement plans, individual retirement accounts, and a mutual fund family — closely paralleling MoA's combined employer/individual retirement and asset management model.
• Voya Financial: Voya provides workplace retirement plans, IRAs, and investment products with a strong focus on the education (403(b)) and corporate markets that overlap with MoA's nonprofit and business customer segments.

Broad incumbents

• T. Rowe Price: T. Rowe Price is a major asset manager with a strong retirement target-date fund franchise and DC recordkeeping presence, competing with MoA Capital Management's target-date and balanced offerings.
• Lincoln Financial Group: Lincoln Financial provides retirement plan services, annuities, and life insurance — overlapping with MoA's combined retirement and life insurance/annuity product set, particularly for employer plan sponsors and individual savers.
• American Funds (Capital Group): American Funds is a large mutual fund family with deep penetration in employer-sponsored retirement plans and IRAs, directly competing with the MoA Funds family for retirement plan sub-advisory slots.
• Charles Schwab: Schwab is a major IRA, brokerage, and self-directed retirement account provider that competes with MoA's individual retirement (IRA, Self-Select IRA, Flexible Premium Annuity) offerings, especially for rollovers.
• Fidelity Investments: Fidelity is a much larger incumbent that offers 401(k)/403(b) recordkeeping, IRAs, and a proprietary mutual fund family across the same employer and individual segments as MoA, though at materially greater scale.

Emerging players

• PenServ (by Nava Benefits): Nava Benefits and similar emerging retirement administration platforms target small and mid-sized employer plans with modern, lower-fee recordkeeping — competing with MoA's small/mid employer 401(k) and 403(b) book on technology and price.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/MutualofAmericaFinancialGroup
• Facebookfacebook.com/MutualOfAmerica
• LinkedInlinkedin.com/company/19546
• Xx.com/MutualofAmerica

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mutual of America