Contributions & Withdrawals
Contributions can be made by check, or you can authorize debits from your
bank account directly into your IRA. Learn more about
Learn more about Automatic Contributions.
You can withdraw some or all of your Traditional IRA account balance subject
to any applicable taxes. Mutual of America imposes no withdrawal charge. A 10% federal
income tax penalty will apply to withdrawals made prior to age 59½, unless
the withdrawal is a result of disability or death or in certain other circumstances.
When you leave your employer to retire or change jobs you may be able to
roll your retirement plan savings to a Mutual of America IRA. If you receive a distribution
from an IRA, a qualified pension or profit-sharing plan or a tax-deferred annuity
plan, you may be able to roll over the distribution to a Mutual of America IRA.
Provided the rollover is made within 60 days of the distribution, it will not be
currently taxable. Distributions not handled by means of a direct rollover to a
Traditional IRA are subject to mandatory 20% federal tax withholding. For more information
about rolling over to a new Traditional IRA, refer to the
Learn more about the
Interest Account & Separate Account Investment Funds.
Before investing in our variable annuity contracts,
you should consider the investment objectives, risks, charges and expenses (a contract
fee, Separate Account expenses and Underlying Funds expenses) carefully. This and
other information is contained in the contract prospectus and Underlying Funds prospectuses.
Please read the prospectuses carefully before investing. The prospectuses can be
obtained by mail or by calling 1-866-954-4321.
Mutual of America's group and individual retirement products are variable annuity contracts and are suitable for long-term investing, particularly for retirement savings. The value of a variable
annuity contract will fluctuate depending on the performance of the Separate Account investment funds you choose. Upon redemption, you could receive more or less than the principal amount invested.