Roth IRA Contributions, Withdrawals & Retirement Income Options
Contributions can be made by check, or you can authorize debits from your bank account directly into your IRA.

Learn more about Automatic Contributions.
When can I contribute?
You may make contributions for a tax year up to the due date for filing income tax returns for that specific year, generally April 15th of the following year.
Withdrawals - what is a qualified distribution?
A qualified distribution is a distribution that is made:
At least five taxable years after a contribution is made, starting with the year in which a contribution is made, and on or after attainment of age 59½, or for a qualified first-time home purchase of up to a $10,000 maximum lifetime limit, or
As a result of death or disability.

All other withdrawals are considered taxable as ordinary income and may also be subject to a 10% premature distribution federal tax penalty to the extent attributable to the Roth IRA's investment earnings, unless an exception applies. A list of exceptions can be found on the IRS website: Please note, however, that after-tax Roth IRA contributions are considered to be withdrawn first.
What are your payment options?
When you are ready to start receiving benefit payments from your account, you have the following options:
Specified Payments Option (SPO) - This option allows you to receive regular monthly payments from your account. The SPO payment amount ($100 minimum) can be changed or stopped at any time.
Annuity - All forms of annuities available under the plan provide a monthly benefit to you for life. The amount of your monthly annuity income will depend on the annuity you select. You may start receiving annuity payments as early as age 55.
Single Sum - You may withdraw your account balance in a single sum.

Mutual of America offers a variety of options for withdrawing your money based on your specific needs for retirement income. Learn more about Turning Your Retirement Savings into Retirement Income.

Our Participant Account Representatives and Rollover Specialists can help you review your savings and investment options and help you to choose how and when to receive your retirement income.

Learn more about the Interest Account & Separate Account Investment Funds.
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 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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