Rollover IRA

Why would you consider a Mutual of America Rollover IRA?

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're retiring

If you will soon be retiring, and you 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 Any interest and investment earnings will also accumulate free from federal income taxes until withdrawn.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 unless another exception applies.

If you're leaving your current job

If you're not retiring, but you 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 you are under age 59½ or another exception applies. In addition, interest and investment earnings will continue to accumulate free from federal income tax until withdrawn.

Single-sum distributions

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.

Learn more about Features & Benefits.

A 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.

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 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

Rollover IRA

Why would you consider a Mutual of America Rollover IRA?

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