Know Your Contribution Limits for 2021

Looking to max out your contribution to your retirement plan in 2021? The following table highlights contribution maximums established by the Internal Revenue Service for various retirement plans.

Learn more about 2021 Contribution Limits. The adjustments are effective beginning January 1, 2021. If you have questions, please call your local Mutual of America representative.

 

1

If annual compensation is less than the applicable limits shown, then the maximum contribution is limited to 100% of compensation.

2

If you contribute to a TDA, 403(b) Thrift and/or 401(k), then generally the total amount contributed to all plans may not exceed $19,500 ($26,000 if age 50 or older). Exceptions apply to certain 403(b) plan participants and governmental 457(b) plan participants.  

3

Tax-Deferred Annuity, 403(b), 401(k) and governmental Section 457(b) Plans. Non-governmental Section 457(b) Eligible Deferred Compensation Plans are not permitted to make age 50 catch-ups, but can make a special catch-up contribution if they are within three years of their normal retirement age.


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 1-800-468-3785 or visiting mutualofamerica.com. Read them carefully before investing.

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 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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