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Features |
Mutual of America's
Rollover IRA |
Your
Company? |
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Current Effective Annual Yield for amounts allocated to the Interest Accumulation Account |
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3.50% for total IRA account balances of $100,000 or more.*
3.25% for total IRA account balances of at least $50,000 but less than $100,000.*
3.00% for total IRA account balances under $50,000.* |
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Investment Alternatives |
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35 Separate Account Investment Options
7 Fund Managers |
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Surrender Charges |
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None ** |
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Commissions |
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None |
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Independent Ratings |
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Financial Strength |
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Mutual of America Life Insurance Company
320 Park Avenue
New York, NY 10022-6839
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| *Total IRA account balance for Traditional and Roth IRA contracts is determined by aggregating all amounts in the Interest Accumulation Account and in the Separate Account investment alternatives for all IRA contracts (except SEP and SIMPLE IRAs) held by the same person. |
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| 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. |
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| 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. |
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| 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. This interest rate may increase or decrease at our discretion. The minimum guaranteed interest rate that is credited to the Interest Accumulation Account of your contract is set by the laws of each state for individual annuity contracts using a formula adopted by the state for this purpose and cannot be less than 1% nor greater than 3%. The minimum guaranteed effective annual yield for amounts in the Interest Accumulation Account for individual annuity contracts for calendar year 2008 is set at 3.00%. A new minimum guaranteed interest rate, based on the formula in your contract, is set during each November for the coming calendar year. Such guarantee is based on the financial strength and claims-paying ability of Mutual of America Life Insurance Company. |
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| **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. |
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| For complete information on our Mutual of America Rollover IRA, 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. |
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| 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 alternatives. |
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