403(b) Plan

Providing the information you need to get started with Mutual of America today.

What is a 403(b) plan?

403(b) plans are employer-sponsored retirement savings plans that operate much like the 401(k) plan.

A 403(b) plan may only be sponsored by:

Public school systems.
Certain tax-exempt organizations, such as churches and nonprofit organizations.

Employers and employees can benefit from a 403(b) plan in many ways

Benefits for employers

Funded in part from dollars paid as salary and employer contributions, up to certain statutory limits.
Helps attract and retain quality employees.
Helps your employees build retirement security.

Benefits for employees

Easy to save through payroll deduction.
Choice of how much to save, subject to applicable lRS limits.
Savings amounts can be adjusted as needs change.
May reduce taxable income.
Defers taxes on the amount saved and earned, until the participant receives benefits. Generally, withdrawals are subject to income tax at a participant's ordinary income tax rate at the time of withdrawal and may be subject to a 10% federal tax penalty, unless an exception applies.

What our clients are saying*

"Mutual of America understands...

our mission and actively works to support it with flexible plan design, attractive pricing and value-added services that help maximize the value of this benefit and drive better outcomes for our organization and our employees."

- Jo-Ann Wallace, President and CEO of the National Legal Aid & Defender Association

The support you receive with our 403(b) plan

Our administrative services, designed for the service level you select, include:

Plan documents, amendments, restatements and Summary Plan Description.
Recordkeeping and other administrative services, including those required to comply with 403(b) regulations.
lnvestment-related services, including making investment options available from which you or your investment fiduciary may select an investment menu to be made available to your plan participants.
Employee education, communication and enrollment.

Your local Mutual of America office can provide a complete list of services we provide.

Designated Roth 403(b) Contribution feature

Enhance your employees' retirement planning choices by providing them with an additional option to make Designated Roth 403(b) Contributions on an after-tax basis, under your retirement plan. Qualified distributions¹ from designated Roth accounts are completely free of federal tax.

Distributions from Designated Roth Accounts that don’t meet the requirements described above will be taxed as ordinary income to the extent attributable to earnings, and may also be subject to a 10% early-distribution tax penalty.

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 mutualofamerica.com. Read them carefully before investing.

*Statements made by clients of Mutual of America are not paid testimonials. These testimonials may not be representative of the experience of other clients and are not indicative of future performance or success.

¹Qualified distributions are distributions made after five consecutive tax years beginning with the first year of contribution and after reaching age 59½, disability or death.↵