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| The Current Effective Annual Yields in the Interest Accumulation Account |
 | 2.50% for total IRA account balances of $100,000 or more .* | | 2.00% for total IRA account balances of at least $50,000 but less than $100,000 .* | | 1.75% for total IRA account balances under $50,000 .* | | Interest Accumulation Account rate is guaranteed never to go lower than 1.00% for all contracts that do not have a contractual minimum guarantee of 3.00% or 1.50%. |
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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 funds to help you meet your retirement savings objectives. The
Separate Account investment funds are managed by quality investment companies, including Mutual
of America Investment Corporation, Oppenheimer Funds, Calvert Investments, American Century
Investments, Fidelity Investments®, DWS Investments and Vanguard. |
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Extending the Benefits for Inherited Retirement Assets.
If you are the beneficiary of assets from a retirement plan or an IRA of an individual other than your spouse,
you may want to transfer or "roll over" your assets to our Inherited IRA variable accumulation annuity contract. For more
information, click here . |
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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
Funds 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. We guarantee that we will credit
interest for the life of the contract to amounts in the Interest Accumulation Account of our
General Account at a rate at least equal to the greater of (1) any contractual minimum guarantee
provided by the contract or (2) the minimum rate required by applicable state law or, if no state
law minimum rate is applicable to a contract, the guaranteed minimum credited interest rate will
be set pursuant to National Association of Insurance Commissioners (NAIC) standard nonforfeiture
law. The NAIC minimum rate is determined in accordance with a formula, and cannot be less than
1.00% or more than 3.00% in any event. We determine whether the application of the formula will
change the minimum guaranteed rate each November, and any change is effective the following
January 1 for that calendar year. The minimum rate for
2012 has been set at 1.00% in accordance
with this formula. In addition, Mutual of America may credit interest to your contract amounts in
the General Account at a higher rate that we declare from time to time and which may increase or
decrease at our sole discretion, although we are not obligated to credit interest in excess of the
minimum guaranteed rate. If you have an existing contract, you should refer to it before making a
decision because it may have a guaranteed minimum rate in excess of the formula described above
and the advertised declared rate. We compound interest daily on your contract amounts in the General
Account to produce an effective annual yield that is equal to the stated interest rate. This
guarantee is subject to Mutual of America's financial strength and claims-paying ability.
** 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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