Spousal IRA | Mutual of America

If your spouse has no earned income, you can also contribute up to $6,000* to their IRA. That means that each tax year, you and your spouse can make combined IRA contributions of up to $12,000* per tax year, as long as you do not contribute more than $6,000* to either of your respective IRAs. Income-tax deductibility of spousal contributions to an IRA depends on filing status, Adjusted Gross Income (AGI) and whether or not a spouse is covered by a retirement plan at work. The Spousal IRA application form can be obtained by following the steps to download the Traditional IRA Application Kit.

*You (and your spouse, if applicable) may also make additional contributions if you are age 50 or older. Refer to the Age 50 "catch-up" contributions information.

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.

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