This Separate Account Fund invests in the Fidelity VIP Equity-Income Portfolio, which seeks reasonable income. Such Underlying Portfolio will also consider the potential for capital appreciation. The Portfolio’s goal is to achieve a yield which exceeds the composite yield on securities comprising the Standard & Poor’s 500® (S&P 500). The Portfolio normally invests at least 80% of its assets in equity securities, and normally invests its assets primarily in income-producing equity securities. The Portfolio may also invest in other types of equity securities and debt securities, including lower-quality debt securities. The Portfolio may invest in securities of domestic and foreign issuers.

Mutual of America and Fidelity Investments are not affiliated. Fidelity Investments & Pyramid Design is a registered service mark of FMR Corp.

The performance data shown above represent past performance, which is not a guarantee of future results. Investment returns and unit values will fluctuate so that units, when redeemed, may be worth more or less than their original cost. Investment Fund total return performance currently may be lower or higher than the figures stated above.

The total return performance data are based on a hypothetical investment of $1,000, which is redeemed at the end of the periods shown. The total return figures reflect the reinvestment of investment income and capital gains and losses, and are net of expenses which include a contract fee, an expense risk fee, administrative charges, a distribution expense charge and Underlying Funds fees and expenses. Please consider carefully the investment objectives, risks, charges and expenses of the Separate Account investment funds before investing. For this and other information about Mutual of America's products and their Separate Account investment funds, investors should obtain the applicable contract brochure or prospectus and prospectuses of the Underlying Funds by calling the toll-free number, 1-800-468-3785. Please read them carefully before investing. Investments in the Money Market Fund (and in the other Funds) are neither insured nor guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Mutual of America Life Insurance Company is a Registered Broker-Dealer.

The total return figures for periods extending beyond a year are average rates of return and do not reflect the Funds' actual year-to-year results, which varied over the periods shown. Contributions or withdrawals made within a period would experience different rates of return based on the unit values on the dates of such transactions.

Stephen Petersen is manager of VIP Equity-Income Portfolio, which he has managed since January 1997. He also manages other Fidelity funds. Since joining Fidelity Investments in 1980, Mr. Petersen has worked as a research analyst and portfolio manager.