Mutual of America 2018 Annual Report – Letter From John R. Greed

Letter from

John R. Greed

Chairman, Presidentand Chief Executive Officer

For Mutual of America, 2018 was an unforgettable year. Whether measured by our financial results, our strength as an organization or the growing number of customers we serve, we delivered one of the best years in our history. At the same time, it was a year of tremendous sadness for the Company.

In June, William Flynn, Chairman Emeritus of Mutual of America, died at age 91. In August, Thomas J. Moran passed away after a brief illness at age 65, just a few months after he retired as Chairman of the Board. Both men have left an indelible mark on our Company and our culture.

Bill Flynn joined Mutual of America in 1971 and transformed the Company from a small retirement association into one of the most highly rated and respected financial services companies in the nation. He retired from Mutual of America in 1994 but continued to serve as Board Chairman until 2005. His leadership, high ethical standards and commitment to addressing social issues continue to inspire us all.

Tom Moran served Mutual of America for more than 40 years, including 22 as our Chief Executive Officer. During his extraordinary tenure, Tom was instrumental in the Company’s growth into a premier retirement savings company with more than $20 billion in assets. Key to that success is the caring, client-first culture that he built, which continues to call on each of us to make a difference in the lives of our customers and in the communities in which we live and work.

Tom touched the lives of so many individuals worldwide, and his generosity in helping others inspired everyone who knew him. Those of us who were fortunate and blessed to have known and worked closely with Tom will fondly remember his wisdom, integrity, compassion, caring nature, great sense of humor, limitless energy and a passion for life that had a contagious effect on everyone he met. He willingly gave of his time, talents and resources to countless humanitarian and community causes, both domestically and throughout the world, and there can be no doubt that thousands of lives were forever changed because of his unmatched generosity.

Our 2018 results and our strength as an organization are a tribute to the legacies of Bill and Tom and the foundation for success that they created, which lives on in each of our more than 1,000 employees.

As we look forward, we remain committed to our vital mission: helping those we serve to build financial security for each step on their journey to and through retirement. We are confident that purpose is seen both in the products and services we provide and in how we deliver them.

With more than 30 Regional Offices across the country, our salaried representatives are close to the customers we serve, enabling us to deliver outstanding service through high-touch, one-on-one support. This year, we further strengthened our commitment to customer service with two new technology-related initiatives aimed at helping us to attract, engage and retain customers in new and innovative ways: partnership with Salesforce and the creation of an Innovation Committee.

In 2018, we entered into an agreement with Salesforce to implement a cloud-based CRM (customer relationship management) system in 2019. This business intelligence platform will enable us to streamline and tailor our business processes and improve efficiency; it will also enable our sales teams to better reach prospects and customers, anticipate and understand their unique needs, and create new channels of opportunity.

“Our salaried representatives are close to the customers we serve, enabling us to deliver outstanding service through high-touch, one-on-one support.”

We also formed an Innovation Committee that encourages our employees to challenge their own assumptions about our business by asking a fundamental but powerful question: How can we improve? We will continue to look for ways to enhance our work flows, further strengthen our products and services, and deepen our connection with customers. The insights gleaned from this exercise will also help us to uncover opportunities to build on our strengths and become a trusted retirement plan provider to more plan sponsors and participants across the country.

We would not be able to accomplish any of these objectives without the tremendous dedication and efforts of our employees. These talented professionals embrace our customer-focused distribution and service model, our long-standing commitment to the community and our focus on helping customers from all walks of life on their journey toward a more secure and fulfilling retirement.

John R. GreedJohn R. GreedChairman, President and Chief Executive Officer

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 1-866-954-4321 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 consider a variable annuity contract’s other features before making a decision.

There is a contract fee (unless you elect to receive documents electronically), and investments in the Separate Account investment funds are subject to Separate Account charges and underlying funds investment management fees and expenses. Withdrawals of the tax-deferred interest and any investment earnings 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.

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.

Past performance is no guarantee of future results.

The target date set forth in each Retirement Fund's name is the approximate date that the fund expects investors to retire and begin withdrawing their account balance. The value of a Retirement Fund is not guaranteed at any time, including at and after the target date. There is no guarantee that a Retirement Fund will correctly predict market or economic conditions, and as with other mutual fund investments, you could lose money. In addition to a retirement date, individuals should consider their risk tolerance, time horizon, personal circumstances and complete financial situation before investing.

Before making a transfer, you should review the accounts you have with other providers 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 transfer your other accounts to your current plan.

There is no separate fee for Mutual of America’s Financial Consulting Services, although there are minimum account balance requirements. The information provided by Mutual of America’s Financial Consultants is educational in nature and is 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.