Are you taking full advantage of the employer match if your company-sponsored retirement plan offers one? If you're not, that's like leaving money on the table.
Here's why: let's say you earn $40,000 a year and contribute 4% of your salary ($1,600) annually. Now assume your employer offers a match of 50% of your contributions up to 6% of your annual pay. That would provide an additional $800 in tax-deferred contributions going directly into your retirement plan each year. However, if you increase your contribution to 6% ($2,400) annually to get the full employer match, that would amount to an additional $1,200 in tax-deferred contributions each year!
Take a look at how much of an impact this increase can have on your retirement savings. Check with your Human Resources or Benefits department to learn if your plan offers an employer match, and if it does, take advantage of it.
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 mail or by calling .
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.