Letter From The Chairman of the Board

Thomas J. Moran

A year has passed since I retired as President and Chief Executive Officer, and the Board of Directors of Mutual of America Life Insurance Company approved the appointment of John Greed as the Company’s new CEO. After 40 years with the Company and 21 years as CEO, I am pleased to report that I am enjoying my retirement, and I wish to thank each of you for your support and friendship during my tenure. Over my 40 years, I have seen many changes take place at Mutual of America. The one thing that has never changed is the integrity with which Mutual of America has cared for its clients’ retirement savings. For this reason and many others, I chose to place all of my retirement payout with Mutual of America. I am reassured by the financial strength of the Company and the professionalism with which my savings will be managed.

The transition to John Greed’s stewardship of the Company has been seamless and successful. With more than 20 years of service with Mutual of America, John has an intimate knowledge of our Company’s mission, employees and customers as well as a strategic understanding of how to grow the Company for the benefit of our policyholders. John and his leadership team continue to seek out new ideas and approaches to our business while maintaining Mutual of America’s culture of caring, social responsibility and commitment to those we serve.

Under John’s leadership, Mutual of America continues to meet the changing needs of our customers, continuing our focus on providing ever more efficient solutions for employers to streamline plan administration as well as enhancing the online experience for all of our customers without sacrificing our one-on-one, personal service. The careful, consistent, individual attention we offer every customer continues to differentiate Mutual of America from all other retirement plan service providers. From the time our customers first begin working, through their retirement years, we provide education and sound savings and investment options to help them improve their retirement readiness and achieve their financial goals, and our financial strength ensures that we will continue to serve the retirement savings needs of our customers well into the future.

“ From the time our customers first begin working, through their retirement years, we provide education and sound savings and investment options to help them achieve their financial goals. ”

In every regard, Mutual of America has never been stronger. The foundation of that strength is not hard to recognize: it is our employees. The combined resources of our Home Office professionals and Regional Office representatives ensure that we are available to our customers whenever service is needed. At the same time, our fees remain competitive so employers across America are able to adopt quality and affordable retirement plans, helping them to attract and retain the best people.

One example of the spirit of caring at the heart of Mutual of America is our Community Partnership Award, which every year recognizes and celebrates 10 partnerships among public, private and social sector organizations dedicated to the public good. Our National Award winner, Harlem RBI’s East Harlem Center for Living and Learning, is an incredible reminder to us all of how a small group of passionate, caring and committed individuals, working together, can make the seemingly impossible happen — transforming lives in the process. In addition to the National Award winner, our Community Partnership Award recognized nine other organizations from across the country that have created unique, innovative and effective solutions through partnerships aimed at tackling some of the most challenging social issues facing our country. Mutual of America is proud to recognize, support and help extend the reach of these vital partnerships. More information about the Community Partnership Award and the 2016 National Award Winner can be found on our website, mutualofamerica.com.

At a time of change and uncertainty in the U.S. and globally, our customers rely on us to be financially strong and stable and to offer sound retirement products and the highest level of personal service. Mutual of America remains committed to fulfilling and exceeding those expectations, putting our customers and our communities first.

Thomas J. MoranChairman of the Board

Before investing, you should carefully consider the investment objectives, risks, charges and expenses of the variable annuity contract and the underlying investment funds. This and other information is contained in the contract prospectus or brochure and underlying funds prospectuses and summary prospectuses. Please read the contract prospectus or brochure and underlying fund prospectuses and summary prospectuses carefully before investing. The contract prospectus or brochure and underlying fund prospectuses and summary prospectuses can be obtained by calling or by visiting mutualofamerica.com.

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 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 carefully consider a variable annuity contract’s other features before making a decision.

Statements made in this interactive annual report 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.

There is no separate fee for Mutual of America’s Financial Consulting Services, although there are minimum account balance requirements. The guidance and information provided by Mutual of America’s Financial Consultants are educational in nature and are not intended to serve as a primary basis for investment decisions. Mutual of America’s Financial Consulting Services do not create an investment advisory or a fiduciary relationship (including under ERISA) between you or your employees and Mutual of America. Mutual of America and its Financial Consultants do not provide tax or legal advice. Consult your personal tax adviser or attorney for matters involving taxation and tax planning and your attorney for matters involving personal trusts and estate planning.