An Important Message to Our Customers
from Chairman and CEO John R. Greed
Regarding COVID-19 and Market Volatility
We are experiencing a critical moment in our nation's history – a moment that is severely disrupting our way of life and threatens to alter, in the near term, how, when, where and with whom we gather, travel, conduct business and consume entertainment. In short, how we live our daily lives.
And yet, while America's confidence is bowed, it is far from broken. Together, we are so much stronger than the coronavirus and far more resilient than the recent sharp decline in the financial markets. We've been through other challenges in the past that seemed, at the time, insurmountable. Each time, we've put aside fear and panic and worked together to emerge stronger than ever as a country. And there is no doubt in our minds and hearts that together, as a country, we will do so once again.
This is a unique opportunity to reassert the unmatched creativity and innovative spirit, technological know-how, unyielding determination and cherished values that define our country's greatness.
Indeed, we have witnessed the selfless and caring acts displayed by tens of thousands of individuals who are on the front lines battling the coronavirus and helping those affected by it to recover. On behalf of everyone at Mutual of America, I want to thank our thousands of clients, colleagues and friends, especially those from the nonprofit social welfare sector who are making such a meaningful impact during this crisis in the communities where we all live and work.
Like you, we are concerned about colleagues, loved ones, friends and so many others affected by the coronavirus outbreak. We also recognize that the recent stock market volatility is adding to the stress and unease that many individuals are already experiencing in their daily lives.
Rest assured that the 1,100-strong team of employees at Mutual of America Financial Group are well prepared to assist you. They'll address your retirement and investment needs, questions and concerns as you navigate through the uncertainty of this global health crisis and the volatility in the financial markets it has caused. Helping our clients stay focused on achieving their retirement and investment goals, even through challenging times, is the hallmark of who we are as a Company and what we have been doing successfully for 75 years.
Throughout our history, we have seen firsthand the economic challenges that organizations and individuals have faced and their determination to work toward a better future. And our commitment to helping our clients and their employees succeed has never wavered.
Markets are unpredictable, and no one knows for certain what still lies ahead regarding the coronavirus. However, we believe it is important to maintain perspective by looking at recent history and by keeping focused on the long term.
Over the past 20 years, Americans have weathered numerous crises, economic and otherwise – from the Dotcom Bust in 2000 to the tragic events of 9/11, to the financial crisis and recession in 2008–09, just to name a few. In each case, after experiencing significant short-term declines, the markets returned stronger than ever.
As always, you can take comfort knowing our Capital Management investment team, which manages Mutual of America's 27 funds and oversees our entire fund menu, continues to stay on top of the ever-changing landscape affecting markets and economies throughout the world. Integrity, prudence and reliability are the values that have guided us since our inception and that continue to serve us well during these challenging times.
Thank you for placing your trust in us. We remain committed to doing everything we can to help you and future generations successfully achieve your retirement and investment goals. While we have modified our business operations across the country to comply with regulatory requirements with respect to social distancing, we remain fully operational and encourage you and your employees to keep in touch with us during this challenging time. Together, we will prevail.
Chairman, President and Chief Executive Officer