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Mutual of America's
Rollover IRA
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Current Effective Annual Yield for amounts allocated to the Interest Accumulation Account
3.00%
for total IRA account balances of $100,000 or more.*
2.75%
for total IRA account balances of at least $50,000 but less than $100,000.*
2.50%
for total IRA account balances under $50,000.*
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Investment Funds
35 Separate Account Investment Funds
7 Fund Managers
?
Surrender Charges
None **
?
Commissions
None
?
Independent Ratings
Financial Strength
?
Download an Application Kit
Take advantage of our Rollover IRA and choose the "target date"
Retirement Fund
with the date closest to your retirement year! Our professional fund managers will select and manage your investments for you!
Or, choose from a variety of brand-name Investment Funds and an Interest Accumulation Account to develop your own investment strategies!
Make it easier to track your investments and their performance with one account instead of several, and you may be able to lower your account maintenance fees, too!
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Mutual of America Life Insurance Company
320 Park Avenue
New York, NY 10022-6839
*Total IRA account balance for Traditional and Roth IRA variable annuity contracts is determined by aggregating all amounts in the Interest Accumulation Account and in the Separate Account Investment Funds for all IRA contracts (except SEP and SIMPLE IRAs) held by the same person.
Your total IRA account balance will be reviewed on a daily basis and used to determine the applicable interest rate credited to only amounts held in the Interest Accumulation Account. When the total account balance on a daily basis increases to a dollar threshold that qualifies for a higher interest rate (as shown above), such higher interest rate, then in effect, begins to be credited to the contract the next day. However, when the total account balance on a daily basis decreases below the dollar threshold specified for a higher interest rate, the applicable lower interest rate does not begin to be credited to the contract until the first day of the month following the date on which the total account balance fell below the dollar amount required for the higher interest rate, and provided that the total account balance remains below the dollar amount required to qualify for the higher interest rate as of the end of that month.
There is a $2.00 contract fee charged monthly from the Interest Accumulation Account (or 1/12 of 1% for account balances less than $2,400) which can be waived if you choose to use eDocuments to receive information from us electronically.
You can choose to place all or a portion of amounts held under your IRA contract in the Interest Accumulation Account, which credits interest at a rate that we declare from time to time, and which may increase or decrease at our discretion. This declared rate cannot go below the guaranteed minimum rate established for the 2010 calendar year as described below.
Under your contract, the absolute minimum guaranteed rate of interest credited on amounts held in the Interest Accumulation Account is effectively 1% for the life of the contract. Each year, in November, Mutual of America sets a guaranteed minimum annual rate for the next calendar year using a formula set forth in your contract. The annual guaranteed rate credited on amounts held in the Interest Accumulation Account cannot be less than 1% nor greater than 3%. In addition, Mutual of America credits interest at a rate that we declare from time to time and which may increase or decrease at our discretion. This declared rate cannot go below the guaranteed minimum rate established for the calendar year as described above. Interest is compounded daily on participant account balances to produce an effective annual yield that is equal to the declared interest rate. The effective annual yield is credited on a total portfolio basis and not on a new money basis. Amounts deposited to the participant's Interest Accumulation Account, as well as interest that has been credited to the account, are guaranteed by Mutual of America. These guarantees are subject to Mutual of America's claims-paying ability and financial strength.
**Withdrawals prior to age 59½ may be subject to a 10% penalty imposed by the IRS. In addition, amounts withdrawn are generally subject to ordinary income taxes.
For complete information on our Mutual of America Rollover IRA, a variable accumulation annuity, please read carefully the contract prospectus and Underlying Funds prospectuses. These prospectuses contain information on investment objectives, risks, charges and expenses (a contract fee, Separate Account expenses and Underlying Funds expenses) and other information, which should be considered carefully before investing. The prospectuses may be obtained by calling 1-866-939-7655 or may be downloaded by clicking the "Download Now" link in the upper left column of this page and following the instructions that will appear.
The Mutual of America Rollover IRA is an individual variable accumulation annuity contract, suitable for long-term investing, such as for retirement savings, and is issued on form IRA-2004 or a similar form specific to your state of residence. This contract provides no additional income-tax deferral advantages beyond those available in a tax-deferred arrangement, i.e., an IRA itself. You should consider the other features of Mutual of America's annuity contract before making a decision, as well as the potential for a loss of account value due to the Rollover IRA's variable Separate Account Investment Funds.
For complete information on our Mutual of America Rollover IRA, a variable accumulation annuity, please read carefully the contract prospectus and Underlying Funds prospectuses. These prospectuses contain information on investment objectives, risks, charges and expenses (a contract fee, Separate Account expenses and Underlying Funds expenses) and other information, which should be considered carefully before investing. The prospectuses may be obtained by calling 1-866-939-7655 or may be downloaded by clicking the "Download Now" link in the upper left column of this page and following the instructions that will appear.
Participants transferring into the Retirement Funds of Mutual of America Investment Corporation should have a suitable risk tolerance and an appropriate time horizon to withstand the potential price volatility associated with the asset allocations of these Funds. It's important that participants carefully consider an appropriate retirement date, their expected retirement income needs, and other sources of income when choosing an overall retirement strategy, and review their Fund selection and investment decisions periodically to take into account any changes in their personal situation. Diversification and professional Fund management do not eliminate investment risk. As with other Separate Account Investment Funds, you could lose money.
The Mutual of America Investment Corporation Retirement Funds are managed by Mutual of America Capital Management Corporation.
The Mutual of America Rollover IRA is an individual variable accumulation annuity contract, suitable for long-term investing, such as for retirement savings, and is issued on form IRA-2004 or a similar form specific to your state of residence. This contract provides no additional income-tax deferral advantages beyond those available in a tax-deferred arrangement, i.e., an IRA itself. You should consider the other features of Mutual of America's annuity contract before making a decision, as well as the potential for a loss of account value due to the Rollover IRA's variable Separate Account Investment Funds.
Mutual of America Life Insurance Company ("Mutual of America") provides group and individual variable accumulation annuities and related services for the pension, retirement and long-range savings needs of various organizations and their employees. We also provide variable accumulation annuities to individuals for their retirement and other long-term financial needs. Variable universal life insurance, group life insurance and group disability products are also available.
Mutual of America Life Insurance Company is a Registered Broker-Dealer.
320 Park Avenue
New York, NY 10022-6839
Mutual of America
®
, Mutual of America ezRollover
®
and Mutual of America Your Retirement Company
®
are registered service marks of
Mutual of America Life Insurance Company.
© Copyright 1999-
2010
Mutual of America Life Insurance Company. All rights reserved.
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