On September 14, 2022, we filed a lawsuit on behalf of participants in the Mutual of America Life Insurance Company Savings Plan (the “Plan”). The lawsuit alleges that the Plan’s fiduciaries (the Defendants in the case) violated the Employee Retirement Income Security Act (ERISA) by failing to act prudently or in the interest of Plan participants and beneficiaries in managing the Plan’s investment options.

Among other things, the lawsuit alleges that Defendants breached their fiduciary duties by providing imprudent investment options affiliated with Mutual of America in the plan menu and charging excessive fees for recordkeeping and administrative services.

The lawsuit seeks to recover the Plan’s financial losses and other equitable relief. For a copy of the Complaint, click here.

This case is entitled Goldstein, et al. v. Mutual of America Life Insurance Company, Case No. 1:22-cv-07862 (S.D.N.Y)

Attorneys

• Paul J. Lukas
• Brock J. Specht
• Grace I. Chanin

Staff

• Liz Luebesmier