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If you will be retiring or leaving employment soon, you may want to transfer or "roll over" your assets from a
qualified retirement plan to our IRA variable annuity contract. Before rolling over funds from plans with other providers, you should
review the accounts you have with them to determine the fees and expenses you currently pay and whether there are any surrender charges
that may result and to ensure that it is in your best interest to roll over your other accounts to a Rollover IRA.
If you will soon be retiring and plan to withdraw your money from your employer's pension or retirement plan, you
may be able to roll over your benefit to an IRA. An IRA allows you to defer federal income taxes on the rollover amount.
Any interest and investment earnings will also accumulate free from federal income taxes until withdrawn. Withdrawals are
subject to income tax at your ordinary income tax rate at the time of withdrawal, and if made prior to age 59½, a 10%
federal tax penalty.
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If you're not retiring but will soon be leaving your current employer, you may be able to roll over the assets in
your current retirement plan to an IRA when you leave. Rolling over your retirement plan assets to an IRA allows you to
continue to defer federal income taxes and avoid the 10% early withdrawal penalty if under age 59½. In addition, interest
and investment earnings will continue to accumulate free from federal income tax until withdrawn.
You can transfer from another Traditional IRA (with another provider) to Mutual of America's IRA and continue to
enjoy federal income tax deferral on any interest and investment earnings.
If you already have a Traditional IRA with another financial institution or a trustee, you may be able to make a nontaxable
direct transfer to a Mutual of America IRA.
All of the interest and/or investment earnings credited to your account accumulate tax-deferred until they are withdrawn.
If, instead of a direct rollover, you take a single sum distribution of your retirement assets, 20% will automatically be
deducted for mandatory withholding tax. If you're under age 59½, you'll also pay a 10% early withdrawal penalty and regular
income tax on the amount received. 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.
Learn more about Features & Benefits.
Rollover IRA is a variable annuity contract and is issued on form 3814-IRA or a similar form specific to your state of
residence. In the states of Maine, Oregon and Utah, the variable annuity contract is issued on form IRA-2004, or a similar
form specific to your state of residence. This contract does not provide additional income-tax deferral advantages beyond
those available in an IRA. You should carefully consider an annuity contract's other features before making a decision, as
well as the potential for a loss of account value due to the Rollover IRA's variable investment choices.
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You should consider the investment objectives, risks, and charges and expenses of the variable annuity contract and the underlying investment funds carefully before investing. This and other information is contained in the contract prospectus or brochure and underlying funds prospectuses and summary prospectuses, which can be obtained by calling 800.468.3785 or visiting mutualofamerica.com. Read them carefully before investing.
Mutual of America's IRAs are individual 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. A variable annuity
contract provides no additional tax-deferred treatment of benefits beyond the treatment provided to any qualified retirement plan or
IRA by applicable tax law. You should consider a variable annuity contract’s other features before making a decision.
Form IRA-2004 or applicable
state variation.
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