The 2024 annual report did not include a financial summary, which is the same as that of 2023.
Also, the links to the previous annual reports were removed.
https://www.mutualofamerica.com/about-us/annual-report
6 replies (most recent on top)
@201 How so ? $140M operating loss in 2024 not factoring in the crown jewel sale of 320 Park. $140M and a downgrade to BBB+ is the right direction ? Ok Joe Biden. Nice spin attempt
Replying to above comments/concerns regarding the Annual Report found at the Company
s website......
As a long time employee/retiree, with substantial assets remaining with the Company, I pored over the Annual Report every year. I don't believe Steven Rich is handling this report any differently than was done in recent years. I was reminded that all of the financial information for Mutual of America Life Insurance Company (and detailed notes), can be found on the last 23 pages of the Separate Account Annual Report, beginning on page 107. There's plenty of information there, and aside from the draconian changes to benefits which were so disappointing to all of us, the 2024 numbers seem to show the Company is headed in the right direction. Just my two cents.
Why are they hiding the numbers ? Greed was more transparent than Rich as Greed up until his last year always included the financials in the annual report. Makes no sense. Why hide the truth ?
What happened to Stephen Rich and his commitment to Transparency. The Rating Agencies have already published how bad the numbers are. Maybe Mutual's auditors couldn't sign off on the final audited numbers ?? Stephen said he was committed to transparency. This is a disappointing development.
The Annual Report used to be something of pride. A lot of effort went into it. It meant something to all of us. Now, since many in marketing was let go, the same level of commitment is not there. It's sad.
How is this an “Annual Report”? Where’s the financial disclosures? This is nothing but a PR brochure, and it features TWO giant pictures of the building we just sold in disgrace (one of which is photoshopped so badly, it looks like the area to the south of us was melted in the Avengers war). Anyone know if this is done internally or by someone’s cousin at a vendor? Is this part of the new Customer Experience?
I can’t believe this was published….beyond embarrassing