Benefits of Consolidating Retirement Assets

Consider streamlining your retirement assets into your employer-sponsored retirement plan.

Consolidating your retirement savings is a simple and efficient way to take control of your finances. If you have multiple retirement accounts—such as a 401(k) or 403(b) plan with a former employer, or an Individual Retirement Account (IRA) at another financial institution—rolling over your balances into a single account at Mutual of America could make managing your money easier.

Regardless of what stage you're at in your retirement journey, following are some advantages of having all of your retirement assets held in one account:


1. Convenience.

Simplifying your recordkeeping by viewing all of your retirement savings on a single statement showing the full picture of your funds can make keeping track of them more convenient.

2. Ease.

Managing your retirement saving strategy, monitoring your goal progress and making asset allocation adjustments can be more efficient when all of your assets are in one account.
Having all of your assets in one retirement account instead of different accounts may save you money on account management and maintenance fees. (Keep in mind that rollovers are tax-free.)*

4. Local service.
In addition to accessing your account in one place, you can meet online or in person with your local Mutual of America representative to review your account and get answers to questions you may have.

Before making a transfer, you should review the accounts you have with other providers 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 transfer your other accounts to your current plan.


Generally, 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.

The tax information contained herein is for informational purposes only. You should consult your financial adviser or attorney regarding your individual circumstances.

The statement made in this article by a client of Mutual of America is not a paid testimonial. This testimonial may not be representative of the experience of other clients and is not indicative of future performance or success.

You should consider the investment objectives, risks, and charges and expenses of the investment funds and, if applicable, the variable annuity contract, carefully before investing. This and other information is contained in the funds' prospectuses and summary prospectuses and the contract prospectus or brochure, if applicable, which can be obtained by calling 800.468.3785 or visiting Read them carefully before investing.

Mutual of America's group and individual retirement products that are variable annuity contracts and 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 options 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.

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