Products December 10, 2012

Mutual of America Launches Mobile Website

December 10, 2012 (PLANSPONSOR.com) – Mutual of America introduced a mobile website to provide its customers with convenient and instant access to their account information via their smartphones.
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The Mutual of America Mobile Website allows participants in employer-sponsored retirement plans and individual customers to review their overall account summary, check individual plan and account balance details, track personal rate of return information and view recent financial transactions. Future enhancements will enable users to make account-related changes and transactions directly through their smartphones.   

Users can access the mobile website by entering mutualofamerica.com in their smartphones’ Web browser.
Products December 10, 2012

Fidelity Introduces Global Stock Plan Solution

December 10, 2012 (PLANSPONSOR.com) – Fidelity launched a plan sponsor website, Global Solutions, which will assist companies in managing employee stock plans in multiple countries.
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Global Solutions consolidates all of Fidelity’s global stock plan services into one site. Plan sponsors can find information about managing global stock plan requirements (e.g. mandatory cash sweeps); completing plan administration and reporting (e.g. long-share reporting); tax and regulatory support; participant support (e.g. making transaction proceeds available in 130 currencies); and multilingual support (e.g. participant website in 11 languages, including the newly added Malay, Thai and Vietnamese).  

Earlier this year, a Fidelity survey found the majority of company stock plan assets (57%) are being earmarked for eventual investment or retirement savings after participants sell them (see “Stock Plan Participants Earmarking Assets for Retirement”).  

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On the Global Solutions site, employers have access to new support services, including: 

  • Restricted stock sell-to-cover—provides flexibility for tax withholding, allowing a participant-level sale of shares to cover tax withholding for restricted stock and performance awards;
  • Enhanced tax lot detail—helps participants better understand the value of their holdings by including the source of shares and grants; 
  • Global tax guide—provides plan sponsors an explanation of the taxation of equity awards in more than 30 countries, including income sourcing and residency rules for employees who move between tax jurisdictions; and 
  • Enhanced mobility tracking—provides plan sponsors with an updatable location history and the flexibility to report on nine mobility tracking fields. 

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