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| The Current Effective Annual Yield for IRAs |
 | 3.15% Interest Accumulation Account current effective annual yield for total IRA account balances of $100,000 or more.* | | 3.05% Interest Accumulation Account current effective annual yield for total IRA account balances of at least $50,000 but less than $100,000.* | | 3.00% Interest Accumulation Account current effective annual yield for total IRA account balances of under $50,000.* |
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Widen Your Investment Choices.
A Mutual of America Rollover IRA provides an Interest Accumulation Account and a broad array of
Separate Account investment alternatives to help you meet your retirement savings objectives.
The Separate Account investment alternatives are invested in quality investment companies,
including Mutual of America Investment Corporation, Oppenheimer Funds, Calvert Variable Series,
Inc., American Century Variable Portfolios, Inc., Fidelity Investments® Variable Insurance
Products Funds, DWS Variable Series I and Vanguard Variable Insurance Fund. |
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Continue Your Tax Advantages.
When you directly transfer your assets into a Mutual of America Rollover IRA, your money continues
to grow tax-deferred until you withdraw it, typically at retirement.** |
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Streamline Your Retirement Savings.
If you have a number of retirement accounts with previous employers and at other financial
institutions, keeping track of your retirement savings investment performance and asset
allocations can be difficult for you and your heirs. A Mutual of America Rollover IRA provides a
convenient way to consolidate your assets into one account, making it easier for you to review
your investment performance and map out a strategy to reach your retirement goals. |
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Maintain Maximum Flexibility.
When you invest through a Mutual of America Rollover IRA, you pay no commission charges, no
front- or back-end loads, and no withdrawal or surrender charges.** Not only will this save you
money, you can invest knowing you're never locked in. |
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Create an Annuity Income Stream You Can't Outlive.
When you're ready to retire, a Mutual of America Rollover IRA provides a number of options
for withdrawing your money, including a guaranteed income for life through an annuity. If
you choose an annuity option, payments under the annuity are guaranteed by Mutual of America
Life Insurance Company. |
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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, 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. |
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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. |
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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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