# EDGAR Filing Document

**Accession Number:** 0000743415
**File Stem:** 0001193125-26-181019
**Filing Date:** 2026-4
**Character Count:** 105381
**Document Hash:** 3987dc3f09d0b8b1ff2bae924bb4acee
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-181019.hdr.sgml**: 20260427

**ACCESSION NUMBER**: 0001193125-26-181019

**CONFORMED SUBMISSION TYPE**: 497VPI

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20260427

**DATE AS OF CHANGE**: 20260427

**EFFECTIVENESS DATE**: 20260427

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MUTUAL OF AMERICA SEPARATE ACCOUNT NO 2
- **CENTRAL INDEX KEY:** 0000743415

**ORGANIZATION NAME:**
- **EIN:** 131614399
- **STATE OF INCORPORATION:** NY
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 497VPI
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 033-05609
- **FILM NUMBER:** 26898776

**BUSINESS ADDRESS:**
- **STREET 1:** 320 PARK AVE
- **STREET 2:** C/O MUTUAL OF AMERICA
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
- **BUSINESS PHONE:** 2123991600

**MAIL ADDRESS:**
- **STREET 1:** 320 PARK AVE
- **STREET 2:** C/O MUTUAL OF AMERICA
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022

## Series and Classes Contracts Data

### MUTUAL OF AMERICA SEPARATE ACCOUNT NO 2 (Series ID: S000009413)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000025765 | Section 457 Contract |  |

**INITIAL SUMMARY PROSPECTUS FOR NEW INVESTORS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**457 CONTRACTS—** <br> **VARIABLE ACCUMULATION ANNUITY CONTRACTS** <br> **FOR SECTION 457 PLANS**

Issued By

**MUTUAL OF AMERICA LIFE INSURANCE COMPANY** <br> 320 Park Avenue, New York, New York 10022-6839 <br> Through its <br> **MUTUAL OF AMERICA SEPARATE ACCOUNT NO. 2**

We offer group variable accumulation annuity contracts to fund certain deferred compensation plans that meet the requirements of Section 457(b) of the Code. The Contracts are only available to employers who sponsor a Plan and not to individuals. The Contract is issued to the Employer sponsoring the Plan, to the Employer's agent for purposes of administering its Plan or to the trustee of the Plan, and the entity to which the Contract is issued is referred to in this Prospectus as "Contractholder".

You, as a Participant, or as an employee participating in an employer's Plan can make Deferred Compensation Amounts, which are:

&nbsp;&nbsp;&nbsp;&nbsp;● amounts the Contractholder (or your employer) contributes on your behalf from salary that you have elected to defer, within the limits of Section 457 and the Plan, and

&nbsp;&nbsp;&nbsp;&nbsp;● if a Plan permits, amounts your employer contributes on your behalf that are in addition to the salary you have deferred.

A Contract can help you accumulate funds for retirement and other long-term financial needs. You may apply your Account Value for retirement benefits at a future date, in the manner your Plan permits.

You may allocate your Account Value to any of the subaccounts of Mutual of America Separate Account No. 2 or to our General Account. You may transfer all or any part of your Account Value among the available Investment Alternatives at any time, without charge. The Subaccounts of the Separate Account currently invest in these funds or portfolios of mutual funds, which are set forth and described in Appendix A to this Summary Prospectus.

This Prospectus for new investors summarizes key features of the Contracts.

The Contract is a complex investment and involves risks, including potential loss of principal.

The Contract is not a short-term investment and is not appropriate for an investor who needs ready access to cash. Withdrawals could result in taxes and tax penalties, as applicable.

Mutual of America Life Insurance Company's obligations under the Contract are subject to its financial strength and claims-paying ability.

Before you invest, you should review the Prospectus, which contains more information about the Contract, including its features, benefits, and risks. You can find the Prospectus and other information about the Contract online at https://dfinview.com/mutualofamerica/tadf/457/AP. You can also obtain this information at no cost by calling 800.574.9267 or by sending an e-mail request to mutualofamerica@dfinsolutions.com.

Additional information about certain investment products, including variable annuities, has been prepared by the Securities and Exchange Commission's staff and is available at Investor.gov.

**The SEC has not approved or disapproved these securities or passed upon the adequacy of this Summary Prospectus. Any representation to the contrary is a criminal offense.**

**Dated: May 1, 2026**

------

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
|  | **Page** |
| **[Definitions We Use in this Summary Prospectus](#xx_2d62adff-9e30-443b-8b01-b404edf8e1f2_1)** | 2  |
| **[Overview of the Contracts](#xx_a05536ee-aae5-4926-ab8f-980ce59bf461_1)** | 5  |
| &nbsp;&nbsp;&nbsp;&nbsp; [Purpose](#xx_a05536ee-aae5-4926-ab8f-980ce59bf461_1) | 5  |
| &nbsp;&nbsp;&nbsp;&nbsp; [Phases of Contract](#xx_a05536ee-aae5-4926-ab8f-980ce59bf461_1) | 5  |
| &nbsp;&nbsp;&nbsp;&nbsp; [Contract Features](#xx_a05536ee-aae5-4926-ab8f-980ce59bf461_2) | 6  |
| **[Important Information You Should Consider About the Contract](#xx_13bcf10b-ad78-4340-b414-e06552cf80bf_1)** | 7  |
| **[Benefits Available Under the Contract](#xx_13bcf10b-ad78-4340-b414-e06552cf80bf_5)** | 11  |
| &nbsp;&nbsp;&nbsp;&nbsp; [Benefits Table](#xx_13bcf10b-ad78-4340-b414-e06552cf80bf_5) | 11  |
| **[Purchases and Contract(s) Value](#xx_13bcf10b-ad78-4340-b414-e06552cf80bf_5)** | 11  |
| &nbsp;&nbsp;&nbsp;&nbsp; [Purchase of a Contract(s); Participation](#xx_13bcf10b-ad78-4340-b414-e06552cf80bf_5) | 11  |
| **[Our Payment of Account Value to You or a Beneficiary](#xx_13bcf10b-ad78-4340-b414-e06552cf80bf_6)** | 12  |
| **[Fee Table](#xx_2fc1c29c-bcb2-47cd-9efa-625ece801e95_1)** | 14  |
| &nbsp;&nbsp;&nbsp;&nbsp; [Transaction Expenses](#xx_2fc1c29c-bcb2-47cd-9efa-625ece801e95_1) | 14  |
| &nbsp;&nbsp;&nbsp;&nbsp; [Annual Contract Expenses](#xx_2fc1c29c-bcb2-47cd-9efa-625ece801e95_2) | 15  |
| &nbsp;&nbsp;&nbsp;&nbsp; [Annual Underlying Fund Expenses](#xx_2fc1c29c-bcb2-47cd-9efa-625ece801e95_3) | 16  |
| &nbsp;&nbsp;&nbsp;&nbsp; [Example](#xx_2fc1c29c-bcb2-47cd-9efa-625ece801e95_3) | 16  |
| **[Appendix A: Underlying Funds Available As Investment Options Under the Contracts](#xx_c73552e7-4089-45f3-8096-a66baff26b33_1)** | A-1 |

---

------

**Definitions We Use in this Summary Prospectus**

***Account Value—***The value of a [Participant](#bookmark_part_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)'s [Accumulation Unit](#bookmark_au_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)s in the [Subaccount](#bookmark_sub_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)s plus the value of amounts held in the [General Account](#bookmark_ga_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) for the [Participant](#bookmark_part_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), during the [Accumulation Period](#bookmark_ap_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8). As used in this Summary Prospectus, the term "[Account Value](#bookmark_av_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)" may mean all or any part of your total [Account Value](#bookmark_av_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8).

***Accumulation Period***—For a [Participant](#bookmark_part_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), the period under a [Contract](#bookmark_con_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) when [Deferred Compensation Amounts](#bookmark_dca_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)are made on behalf of a [Participant](#bookmark_part_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8). The [Accumulation Period](#bookmark_ap_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) ends at the [Annuity Commencement Date](#bookmark_acd_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), or the date the [Participant](#bookmark_part_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) withdraws the [Account Value](#bookmark_av_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) in full before the [Annuity Commencement Date](#bookmark_acd_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8).

***Accumulation Unit***—A measure we use to calculate the value of a [Participant](#bookmark_part_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)'s interest in each of the [Subaccount](#bookmark_sub_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)s. Each [Subaccount](#bookmark_sub_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) has its own [Accumulation Unit](#bookmark_au_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) value.

***Annuitant***—A person who is receiving [Annuity Payments](#bookmark_annp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) or who will receive [Annuity Payments](#bookmark_annp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) after the [Annuity Commencement Date](#bookmark_acd_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), if the [Plan](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) permits [Annuity Payments](#bookmark_annp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8). A [Participant](#bookmark_part_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) must be the [Annuitant](#bookmark_ann_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)under a [Contract](#bookmark_con_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), and the [Annuitant](#bookmark_ann_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) cannot be changed, and a [Beneficiary(ies)](#bookmark_ben_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) who has elected to receive a death benefit in the form of an annuity may be the [Annuitant](#bookmark_ann_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) or name another person as the [Annuitant](#bookmark_ann_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8). [You](#bookmark_you_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) or a [Beneficiary(ies)](#bookmark_ben_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) also may name a joint [Annuitant](#bookmark_ann_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8). We use the life expectancy of the [Annuitant](#bookmark_ann_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) (s) as a factor in determining the amount of monthly [Annuity Payments](#bookmark_annp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) for annuities with a life contingency.

***Annuity Commencement Date***—The date [Annuity Payments](#bookmark_annp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) become payable under a [Contract](#bookmark_con_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) or become payable as the death benefit for a [Beneficiary(ies)](#bookmark_ben_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8). [You](#bookmark_you_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) (or the [Beneficiary(ies)](#bookmark_ben_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) entitled to a death benefit) select the [Annuity Commencement Date](#bookmark_acd_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), or the [Annuity Commencement Date](#bookmark_acd_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) may be imposed under federal tax law provisions in certain circumstances. On the [Annuity Commencement Date](#bookmark_acd_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), your [Account Value](#bookmark_av_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) is applied to provide [Annuity Payments](#bookmark_annp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8). [Annuity Commencement Date](#bookmark_acd_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) is sometimes referred to as "Benefit Commencement Date" in a Contract.

***Annuity Payments****—*A series of equal monthly payments from us to an [Annuitant](#bookmark_ann_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8). The amount of the Annuity Payment will depend on your [Account Value](#bookmark_av_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) on the [Annuity Commencement Date](#bookmark_acd_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) and the form of annuity selected. The [Annuity Payments](#bookmark_annp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) may be for the [Annuitant](#bookmark_ann_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)'s life, for a minimum period of time, for the joint lifetime of the [Annuitant](#bookmark_ann_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) and the joint [Annuitant](#bookmark_ann_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), or for such other specified period as we may permit.

***Beneficiary(ies)****—*The person(s) named by a [Participant](#bookmark_part_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) to receive (1) during the [Accumulation Period](#bookmark_ap_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), the death benefit under the [Contract](#bookmark_con_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) if the [Participant](#bookmark_part_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) dies, or (2) after the [Annuity Commencement Date](#bookmark_acd_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), any remaining [Annuity Payments](#bookmark_annp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) (or their [Commuted Value](#bookmark_cv_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)) if the [Annuitant](#bookmark_ann_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) dies and the joint [Annuitant](#bookmark_ann_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), if any, dies.

***Code***—The Internal Revenue [Code](#bookmark_code_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) of 1986, as amended. Depending on the context, the term [Code](#bookmark_code_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) includes the regulations adopted by the Internal Revenue Service for the [Code](#bookmark_code_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) section being discussed.

***Collateralized Loan***—A loan made by us, which requires you to hold 120% of the loan amount in the General Account as collateral.

***Commuted Value****—*The present value of annuity payments due under an income option or method of payment not based on life contingencies.

***Complete Order****—*An order is considered to be complete when all of the requirements for the completion of a transaction have been met. This includes receipt by the [Company](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) of all information, remittances and notices necessary to process the given transaction. The [Company](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) will inform you of the documents required for your transaction.

***Contract(s)****—*One (or more) of the group variable accumulation annuity contracts described in this Summary Prospectus.

***Contractholder—***For purposes of this Prospectus, the [Contractholder](#bookmark_conh_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) will be a [Governmental Unit](#bookmark_gu_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) to which we have issued a [Contract](#bookmark_con_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), its agent or its trustee of a trust established under a [Plan](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8).

***Deferred Compensation Amounts (or Amounts)—***Amounts deferred from a [Participant](#bookmark_part_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)'s compensation under a [Plan](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) and sent to us on the [Participant](#bookmark_part_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)'s behalf and amounts the [Contractholder](#bookmark_conh_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) or employer sends on behalf of the [Participant](#bookmark_part_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) in addition to the [Participant](#bookmark_part_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)'s deferrals of salary.

------

***Designated Roth Account—***An account maintained for [Designated Roth Account](#bookmark_dra_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) and earnings (or losses) attributable to [Designated Roth Account](#bookmark_dra_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8). This term, depending on the context in which it is used, includes [Designated Roth Contributions](#bookmark_drc_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) s.

***Designated Roth Contributions—*** [Deferred Compensation Amounts](#bookmark_dca_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) irrevocably designated as [Designated](#bookmark_dra_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)[Roth Account](#bookmark_dra_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) described in Section 402A of the [Code](#bookmark_code_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8).

***Designated Roth Rollover Account—***An account maintained for rollover [Designated Roth Account](#bookmark_dra_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) and earnings (or losses) attributable to rollover [Designated Roth Account](#bookmark_dra_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8).

***eDocuments***—A feature that offers [Participant](#bookmark_part_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)s a way to electronically receive communications and reports, such as quarterly statements, prospectuses (including summary prospectuses), and underlying fund and separate account annual and semi-annual reports. When such documents are available, an email notice is sent to the [eDocuments](#bookmark_edoc_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) subscriber informing him or her of such availability on the secure "My Account" website maintained by the [Company](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8). [Participant](#bookmark_part_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)s enroll by consenting to receive through [eDocuments](#bookmark_edoc_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) all of the documents that we deliver electronically, and are provided instructions on revocation of the consent, including the ability to revoke it immediately by calling a specified toll-free number. Revocation of consent applies to all documents provided through the [eDocuments](#bookmark_edoc_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) program. [You](#bookmark_you_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) can sign up for [eDocuments](#bookmark_edoc_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) by completing the Consent Agreement located on our website and indicating your consent to receive documents through the [Mutual of America](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) website.

***Employer—***A [Governmental Unit](#bookmark_gu_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) or other organization exempt from federal income taxation under the [Code](#bookmark_code_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)(except a church, as defined in the [Code](#bookmark_code_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)) that established a [Plan](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8). This term is not always capitalized.

***General Account (or Interest Accumulation Account)***—Assets we own that are not in a separate account, but rather are held as part of our general assets. We sometimes refer to the [General Account](#bookmark_ga_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) as the [Interest](#bookmark_iaa_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)[Accumulation Account](#bookmark_iaa_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)because amounts you allocate to the [General Account](#bookmark_ga_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) earn interest at a fixed rate that we change from time to time.

***Governmental Unit—***A state, a political subdivision of a state, an agency or instrumentality of a state, or an agency or instrumentality of a political subdivision of a state.

***Investment Alternatives—***The [General Account](#bookmark_ga_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) and the [Subaccount](#bookmark_sub_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)s. [You](#bookmark_you_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) may allocate your [Deferred](#bookmark_dca_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)[Compensation Amounts](#bookmark_dca_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) and transfer your [Account Value](#bookmark_av_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) among the [Investment Alternatives](#bookmark_ia_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), subject to any limitations under your [Plan](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8).

***Participant—***An employee or former employee who has entered into a salary reduction agreement with a [Contractholder](#bookmark_conh_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) and for whom we have received [Deferred Compensation Amounts](#bookmark_dca_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) under a [Plan](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8). The agreement must specify the amount of earnings to be considered a Deferred Compensation Amount under the [Plan](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8).

***Plan—***An eligible deferred compensation plan meeting the requirements of Section 457(b) of the [Code](#bookmark_code_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8).

***Reduced Fee***—The reduced [Separate Account](#bookmark_sa_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) Annual Expenses, comprised of the in administrative charge, distribution expense charge and expense risk charge that apply to participants in plans that are eligible for such reduced [Separate Account](#bookmark_sa_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) Annual Expenses as set forth in the Fee Table section of this Summary Prospectus.

***Rollover Contributions Account***—An account maintained for rollover Contributions other than [Designated](#bookmark_dra_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)[Roth Account](#bookmark_dra_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) (or rollover [Designated Roth Account](#bookmark_dra_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)) and earnings (or losses) attributable to such Contributions.

***Separate Account***— [Mutual of America](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)[Separate Account](#bookmark_sa_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) No. 2, a separate account established by us to receive and invest amounts contributed under variable accumulation annuity contracts and other variable contracts. The assets of the [Separate Account](#bookmark_sa_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) are set aside and kept separate from our other assets.

***Subaccount****—*A division of the [Separate Account](#bookmark_sa_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) which invests its assets exclusively in a corresponding Underlying Fund of the same name.

***Uncollateralized Loan***—A loan made from your vested [Account Value](#bookmark_av_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8).

***Underlying Funds—***The funds or portfolios in which the [Subaccount](#bookmark_sub_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)s are invested.

------

***We, us, our, Company or Mutual of America***—Refers to [Mutual of America](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) Life Insurance [Company](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8).

***You, or your***—Refers to a [Participant](#bookmark_part_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8).

------

**Overview of the Contracts**

**Purpose**

------

We offer group annuity accumulation [Contracts](#bookmark_con_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) for use with certain eligible deferred compensation [plans](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) that employers have established pursuant to Section 457 of the [Code](#bookmark_code_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8). The [Contracts](#bookmark_con_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) are designed to provide long-term accumulation of assets through investments in a variety of [Investment Alternatives](#bookmark_ia_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) during the [Accumulation Period](#bookmark_ap_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8). The [Plan](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) can supplement your retirement income by providing a stream of income payments during the payout period. It also offers death benefits to protect your designated Beneficiaries. The [Plan](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) may be appropriate if you have a long investment time horizon. It is not intended for those who may need to make early or frequent withdrawals or intend to engage in frequent trading in the [Underlying Funds](#bookmark_uf_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8).

**Phases of Contract**

------

The [Contracts](#bookmark_con_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) have two phases: an accumulation (savings) period and an annuity (income) period.

**Accumulation (Savings) Period**

During the [Accumulation Period](#bookmark_ap_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), you may allocate your [Account Value](#bookmark_av_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) among the [Investment Alternatives](#bookmark_ia_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), subject to any restrictions contained in your Contract. At any time, you may change your allocation instructions for future [Deferred Compensation Amounts](#bookmark_dca_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) and transfer all or part of your [Account Value](#bookmark_av_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) among the available [Investment Alternatives](#bookmark_ia_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8). [You](#bookmark_you_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) may allocate your [Account Value](#bookmark_av_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) to our [General Account](#bookmark_ga_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), unless your [Plan](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)restricts allocations. We pay interest on the portion of your [Account Value](#bookmark_av_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) allocated to our [General Account](#bookmark_ga_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) at a rate of interest determined from time to time by us. We have the full investment risk for amounts you allocate to the [General Account](#bookmark_ga_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8). [You](#bookmark_you_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) may also allocate your [Account Value](#bookmark_av_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) to any of the [Subaccounts](#bookmark_sub_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) of Mutual of America [Separate Account](#bookmark_sa_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) No. 2. The name of each [Subaccount](#bookmark_sub_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) corresponds to the name of its Underlying Fund. When you allocate Contributions or transfer [Account Value](#bookmark_av_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) to a [Subaccount](#bookmark_sub_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), the [Subaccount](#bookmark_sub_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) purchases shares in its Underlying Fund. A [Subaccount](#bookmark_sub_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) is called a "variable option," because you bear the investment risk that your [Account Value](#bookmark_av_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) in the [Subaccount](#bookmark_sub_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) will increase or decrease based on the investment performance of the Underlying Fund. The [Subaccounts](#bookmark_sub_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) currently invest in forty-eight [Underlying Funds](#bookmark_uf_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), which have different investment objectives, investment policies and risks. Please refer to Appendix A to this Prospectus, entitled *"*[*Underlying Funds*](#bookmark_uf_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) *Available As Investment Options Under the* [*Contracts*](#bookmark_con_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)" and to the prospectuses of the [Underlying Funds](#bookmark_uf_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) for more information about the [Underlying Funds](#bookmark_uf_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)' investment objectives.

[***Deferred Compensation Amounts***](#bookmark_dca_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) ***during the*** [***Accumulation Period***](#bookmark_ap_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)*.*** [You](#bookmark_you_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) may defer compensation in whatever amounts and at whatever frequency you desire, subject to limitations under the [Code](#bookmark_code_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) and your [Plan](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8). If permitted by your [Employer's](#bookmark_emp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)[Plan](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), you may also make [Designated Roth Contributions](#bookmark_drc_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8). If your [Plan](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) permits, your employer also may send us [Deferred Compensation Amounts](#bookmark_dca_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) for you that are in addition to the salary you have deferred. A [Plan](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), the [Code](#bookmark_code_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) or state or local law may require a [Contractholder](#bookmark_conh_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) to send the Amounts within a certain time period.

***Minimum Required.*** [You](#bookmark_you_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) are not required to make any minimum amount of [deferred compensation](#bookmark_dca_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)[amounts](#bookmark_dca_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8).

***Limits on*** [***Deferred Compensation Amounts***](#bookmark_dca_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)*.*** The [Code](#bookmark_code_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) restricts the amounts of compensation that you may defer under a [Plan](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) during any tax year.

**Annuity (Income) Period**

You can elect to annuitize and turn your [Account Value](#bookmark_av_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) into a stream of income payments from Mutual of America, at which time the [Accumulation Period](#bookmark_ap_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) of the Contract ends. These payments may continue for a fixed period of years, for your entire life, or for the longer of a fixed period or your life. If you annuitize, you will receive a stream of [Annuity Payments](#bookmark_annp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8). You will be unable to make withdrawals, unless provided for by the form of annuity you select, and death benefits will terminate.

------

**Contract Features**

------

We issue a Contract to a [Contractholder](#bookmark_conh_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), which owns the Contract. In the past we issued contracts to eligible employers as defined under Section 457, including tax exempt organizations and trustees of [plans](#bookmark_plans_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) adopted by those organizations. Currently, we only issue contracts to [Contractholders](#bookmark_conh_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) that are states, political subdivisions of a state, and any agency or instrumentality of a state or political subdivision of a state ("[Governmental](#bookmark_gu_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)[Units](#bookmark_gu_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)"), and trustees of [Plans](#bookmark_plans_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) adopted by [Governmental Units](#bookmark_gu_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8).

***Death Benefits during the*** [***Accumulation Period***](#bookmark_ap_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)*.*** If you die before the [Annuity Commencement Date](#bookmark_acd_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), we will pay a death benefit to your [Beneficiary](#bookmark_ben_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8).

The death benefit amount will be your [Account Value](#bookmark_av_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) (less any outstanding loans and interest) as of the date we receive proof of death and the election by the [Beneficiary(ies)](#bookmark_ben_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) instructing us how we should pay the death benefit along with all other information and documentation necessary for us to process the request. The [Beneficiary](#bookmark_ben_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) will select the form of death benefit, which may be a lump sum, a form of annuity or fixed payments

***Transfers and Withdrawals of*** [***Account Value***](#bookmark_av_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)**.** During the [Accumulation Period](#bookmark_ap_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), you may transfer all or a portion of your [Account Value](#bookmark_av_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) among [Subaccounts](#bookmark_sub_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), and between the [Separate Account](#bookmark_sa_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) and the [General](#bookmark_ga_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)[Account](#bookmark_ga_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), unless your [Plan](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) limits transfers. If you have a loan under a [Plan](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) secured by all or part of your [Account Value](#bookmark_av_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), we restrict your transfer or withdrawal from the [General Account](#bookmark_ga_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) of the loan collateral security amount. In certain 401(k) [Plans](#bookmark_plans_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), loans may be made under a trust.

During the [Accumulation Period](#bookmark_ap_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), you may withdraw all or a portion of your [Account Value](#bookmark_av_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) under the circumstances set forth in the [Code](#bookmark_code_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) and the [Plan](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8). You generally may not withdraw your [Account Value](#bookmark_av_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) until you have reached the age of 70½ or terminated employment with your employer under the Plan, unless, your [Plan](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) permits you to withdraw from your [Account Value](#bookmark_av_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) in the event you have an unforeseeable emergency.

[Your](#bookmark_you_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)[Plan](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) sets forth the forms in which you may make withdrawals or obtain retirement benefits. Depending on your [Plan](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), you may take your [Account Value](#bookmark_av_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) in a single sum payment, in installment payments or otherwise over a period of time. Some [Plans](#bookmark_plans_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) allow you to apply your [Account Value](#bookmark_av_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) for [Annuity Payments](#bookmark_annp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) from us, with the amount of the monthly payments fixed at the same amount every month and based on the form of annuity you select and your [Account Value](#bookmark_av_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) at the [Annuity Commencement Date](#bookmark_acd_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8).

We do not charge a fee for withdrawals or partial withdrawals. If you are subject to the minimum distribution rules under the [Code](#bookmark_code_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), you should ensure that your withdrawals for the year equal or exceed the minimum required annual distribution. You may have taxable income upon any withdrawal of your [Account Value](#bookmark_av_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8). You will be taxed at ordinary income tax rates on the portion of the withdrawal that is taxable, and all of the withdrawal will be taxable in most circumstances. Qualified distributions from a [Designated Roth Account](#bookmark_dra_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) are not taxable.

***Loans.*** If your [Employer's](#bookmark_emp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)[Plan](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) allows [participant](#bookmark_part_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) loans, you may borrow using your [Account Value](#bookmark_av_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8). The charges that we assess in connection with loans are detailed in the Charges section of this Prospectus.

------

**Important Information You Should Consider About the** [**Contract**](#bookmark_con_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **FEES AND EXPENSES** | **FEES AND EXPENSES** | **FEES AND EXPENSES** | &nbsp;&nbsp; **LOCATION IN** <br> **PROSPECTUS**<br>|
| **Are There** <br> **Charges for Early** <br> **Withdrawals?**<br>| **No.** | **No.** | **No.** | Charges |
| **Are There** <br> **Transaction** <br> **Charges?**<br>| &nbsp;&nbsp; **No,** there are no charges for transactions under the [Contract](#bookmark_con_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), <br> other than certain fees associated with [Contract](#bookmark_con_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) loans. | &nbsp;&nbsp; **No,** there are no charges for transactions under the [Contract](#bookmark_con_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), <br> other than certain fees associated with [Contract](#bookmark_con_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) loans. | &nbsp;&nbsp; **No,** there are no charges for transactions under the [Contract](#bookmark_con_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), <br> other than certain fees associated with [Contract](#bookmark_con_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) loans. | Charges |
| **Are There** <br> **Ongoing Fees** <br> **and Expenses?**<br> (annual charges) | &nbsp;&nbsp; **Yes,** the table below describes the fees and expenses that you <br> may pay *each year,* depending on the Investment Alternatives <br> and optional benefits you choose. Loan interest is not reflected in <br> the table. Please refer to your [Contract](#bookmark_con_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) specifications page for <br> information about the specific fees you will pay each year based <br> on the options you have elected. | &nbsp;&nbsp; **Yes,** the table below describes the fees and expenses that you <br> may pay *each year,* depending on the Investment Alternatives <br> and optional benefits you choose. Loan interest is not reflected in <br> the table. Please refer to your [Contract](#bookmark_con_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) specifications page for <br> information about the specific fees you will pay each year based <br> on the options you have elected. | &nbsp;&nbsp; **Yes,** the table below describes the fees and expenses that you <br> may pay *each year,* depending on the Investment Alternatives <br> and optional benefits you choose. Loan interest is not reflected in <br> the table. Please refer to your [Contract](#bookmark_con_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) specifications page for <br> information about the specific fees you will pay each year based <br> on the options you have elected. | Charges |
| **Are There** <br> **Ongoing Fees** <br> **and Expenses?**<br> (annual charges) | **ANNUAL FEE** | **MIN.** | **MAX.** | Charges |
| **Are There** <br> **Ongoing Fees** <br> **and Expenses?**<br> (annual charges) | &nbsp;&nbsp;&nbsp;&nbsp; 1. Base [Contract](#bookmark_con_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) (varies by <br> [Contract](#bookmark_con_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) class)<br>| 0.27%<sup>1</sup> <br>| 1.48%<sup>1</sup> <br>| Charges |
| **Are There** <br> **Ongoing Fees** <br> **and Expenses?**<br> (annual charges) | &nbsp;&nbsp;&nbsp;&nbsp; 2. Underlying Fund fees and <br> expenses<br>| 0.14%<sup>2</sup> <br>| 8.91%<sup>2</sup> <br>| Charges |
| **Are There** <br> **Ongoing Fees** <br> **and Expenses?**<br> (annual charges) | &nbsp;&nbsp;&nbsp;&nbsp; 3. Optional benefits available <br> for an additional charge<br>| NA | NA | Charges |
| **Are There** <br> **Ongoing Fees** <br> **and Expenses?**<br> (annual charges) | &nbsp;&nbsp; <sup>1</sup> As a percentage of the Separate Account value. There are <br> several classes of the [Contract](#bookmark_con_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), each of which has a different <br> [Separate Account](#bookmark_sa_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) charge, based upon the total contract assets <br> in the [Separate Account](#bookmark_sa_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) and the [General Account](#bookmark_ga_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8). See the <br> "Charges" section of the Prospectus for a description of the <br> different classes of the [Contract](#bookmark_con_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) and related charges.<br> <sup>2</sup> As a percentage of the net asset value of the Underlying Fund <br> assets. Net of fee waivers, the max is 1.24%. | &nbsp;&nbsp; <sup>1</sup> As a percentage of the Separate Account value. There are <br> several classes of the [Contract](#bookmark_con_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), each of which has a different <br> [Separate Account](#bookmark_sa_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) charge, based upon the total contract assets <br> in the [Separate Account](#bookmark_sa_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) and the [General Account](#bookmark_ga_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8). See the <br> "Charges" section of the Prospectus for a description of the <br> different classes of the [Contract](#bookmark_con_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) and related charges.<br> <sup>2</sup> As a percentage of the net asset value of the Underlying Fund <br> assets. Net of fee waivers, the max is 1.24%. | &nbsp;&nbsp; <sup>1</sup> As a percentage of the Separate Account value. There are <br> several classes of the [Contract](#bookmark_con_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), each of which has a different <br> [Separate Account](#bookmark_sa_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) charge, based upon the total contract assets <br> in the [Separate Account](#bookmark_sa_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) and the [General Account](#bookmark_ga_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8). See the <br> "Charges" section of the Prospectus for a description of the <br> different classes of the [Contract](#bookmark_con_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) and related charges.<br> <sup>2</sup> As a percentage of the net asset value of the Underlying Fund <br> assets. Net of fee waivers, the max is 1.24%. | Charges |

---

------

**FEES AND EXPENSES** **LOCATION IN** **PROSPECTUS** 

\* Net of fee waivers, the highest annual cost estimate is $2,785. 

**RISKS** 

------

---

| | | |
|:---|:---|:---|
|  | **RISKS** |  |
| **What Are the** <br> **Risks Related to** <br> **the Insurance** <br> **Company?**<br>| &nbsp;&nbsp; An investment in the [Contract](#bookmark_con_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) is subject to the risks related to <br> Mutual of America, including that any obligations (including <br> under the [General Account](#bookmark_ga_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)), guarantees, and benefits of the <br> [Contract](#bookmark_con_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) are subject to the claims paying ability of Mutual of <br> America. More information about Mutual of America, including its <br> financial strength ratings, is available upon request from Mutual <br> of America by calling our toll-free number, 800.468.3785 or by <br> visiting our website at mutualofamerica.com. | &nbsp;&nbsp; General <br> Description of <br> [Separate Account](#bookmark_sa_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)<br> No. 2, Mutual of <br> America, and <br> [Underlying Funds](#bookmark_uf_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)<br> Our [General](#bookmark_ga_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)<br> [Account](#bookmark_ga_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)<br>|
|  | **RESTRICTIONS** |  |
| **Are There Limits** <br> **on the** <br> **Investment** <br> **Options?**<br>| &nbsp;&nbsp; **Yes,** [your](#bookmark_you_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) ability to allocate Contributions among the [Investment](#bookmark_ia_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)<br> [Alternatives](#bookmark_ia_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) is subject to any restrictions contained in your <br> [Employer](#bookmark_emp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)'s [Plan](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8). If your [Employer](#bookmark_emp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)'s [Plan](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) permits transfers to <br> other contracts, you may transfer your [Account Value](#bookmark_av_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) but only to <br> a provider specifically identified in the [Plan](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8). Transfers while you <br> are actively employed to any provider not specified in the [Plan](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)<br> are prohibited.<br> We may remove an Underlying Fund or limit its availability to new <br> Contributions and/or transfers of [Account Value](#bookmark_av_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) if we determine <br> that an Underlying Fund no longer satisfies one or more of our <br> selection criteria. | &nbsp;&nbsp; General <br> Description of <br> [Separate Account](#bookmark_sa_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)<br> No. 2, Mutual of <br> America, and <br> [Underlying Funds](#bookmark_uf_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)<br>|
| **Are There any** <br> **Restrictions on** <br> **Contract** <br> **Benefits?**<br>| &nbsp;&nbsp; **Yes,** to the extent your Employer's Plan allows participant loans, <br> you have the right to borrow using your Account Value as <br> collateral security for the loan or, if your Employer's Plan <br> provides for loans to be made using a trust, you will withdraw the <br> loan amount from your Account Value. Your Employer's Plan may <br> or may not permit loans to be taken from or secured by amounts <br> held in a Designated Roth Account. The maximum amount that <br> can be taken as a loan is limited under the Code, based on your <br> account balance. Generally, a Participant can borrow no more <br> than the lesser of (a) the greater of $10,000 or 50% of the <br> Participant's vested account balance; or (b) $50,000. The <br> maximum amount that a Participant can borrow is also limited if <br> the Participant has another outstanding loan. Certain exceptions <br> may permit a Participant to take a larger loan under <br> circumstances specified by law from time to time.<br> We will not permit you to make withdrawals or transfers of the <br> collateral amount while the loan is outstanding. Amounts <br> borrowed in a loan do not participate in the Subaccount <br> investment experience. Loans, therefore, can affect the Account <br> Value and death benefit whether or not the loan is repaid. Death <br> benefit proceeds payable will be reduced by the amount of any <br> outstanding Contract loan plus accrued interest. | Loans |
|  | **TAXES** |  |
| **What Are the** <br> **Contract's Tax** <br> **Implications?**<br>| &nbsp;&nbsp; [You](#bookmark_you_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) should consult with a tax professional to determine the tax <br> implications of an investment in and Contributions made under <br> the [Contract](#bookmark_con_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8).<br> Because the [Contract](#bookmark_con_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) is purchased through a tax-qualified [plan](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), <br> there are no additional tax benefits to the Contract.<br> Withdrawals will be subject to ordinary income tax, and may be <br> subject to tax penalties. | Taxes |

---

------

---

| | | |
|:---|:---|:---|
|  | **CONFLICTS OF INTEREST** |  |
| **How Are** <br> **Investment** <br> **Professionals** <br> **Compensated?**<br>| &nbsp;&nbsp; Mutual of America offers the Contracts for sale through certain <br> of our employees who are registered representatives of Mutual <br> of America Securities LLC, the principal underwriter of the <br> Contracts. The only compensation we pay to registered <br> representatives for sales of the Contracts is in the form of salary, <br> plus annual incentive compensation based on achievement of <br> certain individual and/or Company sales objectives. There are no <br> commissions or fees payable for sales of the Contracts.<br> With regard to non-cash compensation, representatives and <br> certain staff from the top performing regional offices, as well as <br> other high performing representatives, are eligible to attend a trip <br> to a Company-hosted sales conference or other Company-<br> hosted event.<br> The existence of such forms of compensation could influence a <br> registered representative to recommend this [Contract](#bookmark_con_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) over <br> another investment. | &nbsp;&nbsp; Purchases and <br> [Contract](#bookmark_con_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) Value<br>|
| **Should I** <br> **Exchange My** <br> **Contract?**<br>| &nbsp;&nbsp; Registered representatives may have a financial incentive to offer <br> a participant a new contract in place of the one the participant <br> already owns. A participant should only exchange their Contract <br> if the participant determines, after comparing the features, fees, <br> and risks of both contracts, that it is preferable for the participant <br> to purchase the new contract rather than continue to own the <br> existing contract. | &nbsp;&nbsp; Purchases and <br> Contract Value<br>|

---

------

**Benefits Available Under the** [**Contract**](#bookmark_con_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)

The following table summarizes information about the benefits available under the [Contract](#bookmark_con_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Name of Benefit** | **Purpose** | **Is Benefit** <br> **Standard or** <br> **Optional**<br>| **Maximum Fee** | **Brief Description** <br> **of Restrictions/** <br> **Limitations**<br>|
| Death benefit <br> during <br> [Accumulation](#bookmark_ap_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)<br> [Period](#bookmark_ap_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)equal to <br> [Account Value](#bookmark_av_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)<br>| To provide a death <br> benefit to one or <br> more Beneficiaries, <br> upon the death of <br> the [Participant](#bookmark_part_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)<br> during the <br> [accumulation period](#bookmark_ap_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)<br>| Standard | No specific fee for <br> the death benefit – <br> included as part of <br> overall [Contract](#bookmark_con_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)<br> charges<br>| Death benefit <br> amount is reduced <br> by the amount of <br> any outstanding <br> loans and interest<br>|
| Loans | To borrow using <br> your Account Value <br> as collateral <br> security for the loan <br> or, if your <br> Employer's Plan <br> provides for loans to <br> be made using a <br> trust, you will <br> withdraw the loan <br> amount from your <br> Account Value<br>| Optional | For collateralized <br> loans, the maximum <br> loan interest rate is <br> 3% higher than the <br> interest rate <br> credited to amounts <br> held in the General <br> Account. For <br> uncollateralized <br> loans, the maximum <br> loan interest is the <br> Prime Rate +1%. <br> The origination fee <br> for loans repaid by <br> payroll deduction is <br> $75, with an annual <br> fee of $15 per year. <br> There is a $350 <br> origination fee for <br> loans repaid <br> through home <br> billing.<br>| If you have a loan <br> under a Plan <br> secured by all or <br> part of your <br> Account Value, we <br> restrict your transfer <br> or withdrawal from <br> the General <br> Account of the loan <br> collateral security <br> amount. In certain <br> 401(k) Plans, loans <br> may be made under <br> a trust, which may <br> not be secured by <br> any amounts held <br> under a contract.<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**Purchases and** [**Contract(s)**](#bookmark_con_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) **Value**

**Purchase of a** [**Contract(s)**](#bookmark_con_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)**; Participation**

------

We issue [Contract(s)](#bookmark_con_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) as a funding vehicle for benefits under a [Plan](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8). Currently, only a [Governmental Unit](#bookmark_gu_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) or the trustees of a trust for a [Plan](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) established by a [Governmental Unit](#bookmark_gu_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) may purchase a [Contract(s)](#bookmark_con_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8).

[Your](#bookmark_you_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) eligibility for participation under your employer [Plan](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) is determined in accordance with the terms of the [Plan](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8). We or the [Plan](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) may require you to execute agreements and applications on prescribed forms. [You](#bookmark_you_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)usually must enter into a salary reduction agreement with the [Contractholder](#bookmark_conh_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) for your [Deferred Compensation](#bookmark_dca_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)[Amounts](#bookmark_dca_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), and an employee's participation is usually voluntary.

***Acceptance of Initial*** [***Deferred Compensation Amounts***](#bookmark_dca_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)*.*** When we receive your first Deferred Compensation Amount and accompanying documentation in [Complete Order](#bookmark_co_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) (see "Definitions We Use in this Prospectus" for a description of [Complete Order](#bookmark_co_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)), we will apply the Deferred Compensation Amount to your

------

specified [Investment Alternatives](#bookmark_ia_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) within two business days after we receive the Amount. In the event that we receive incomplete information, we will contact your employer to obtain the information necessary for it to be in [Complete Order](#bookmark_co_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) and we will hold the Deferred Compensation Amount in a non-interest bearing bank account until we have received the necessary information. If your application is incomplete and we do not receive the necessary information and signed application in [Complete Order](#bookmark_co_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) within a reasonable period of time not to exceed 45 calendar days of our receipt of the initial Deferred Compensation, we will return the Deferred Compensation Amount unless the [Contractholder](#bookmark_conh_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) consents to our holding it until additional documentation is provided. We will apply the Deferred Compensation Amount within two business days after we receive the documentation in [Complete Order](#bookmark_co_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8). We enter into agreements with [Plan](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) employer that utilize our electronic processing system for the forwarding to us of applications and information about [Deferred Compensation](#bookmark_dca_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)[Amounts](#bookmark_dca_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**Our Payment of** [**Account Value**](#bookmark_av_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) **to You or a Beneficiary**

***Withdrawals of*** [***Account Value***](#bookmark_av_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)

Unless your [Plan](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) has different provisions, you may withdraw all or any portion of your [Account Value](#bookmark_av_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) when

&nbsp;&nbsp;&nbsp;&nbsp;● your employment with the [Contractholder](#bookmark_con_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) (or sponsoring employer) ends and you are no longer participating under the [Plan](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)

&nbsp;&nbsp;&nbsp;&nbsp;● you reach age 70½, or

&nbsp;&nbsp;&nbsp;&nbsp;● you suffer an unforeseen emergency, as defined in the [Code](#bookmark_code_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) or its regulations.

We may take up to seven days following receipt of your withdrawal request to process the request and mail a check to you or electronically transfer funds to your Bank account where available.

***Your Right to Make Withdrawals*** 

Under federal tax law, the general rule is that you may not withdraw all or any portion of your [Account Value](#bookmark_av_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)before the earlier of

&nbsp;&nbsp;&nbsp;&nbsp;● the calendar year in which you reach age 70½, or

&nbsp;&nbsp;&nbsp;&nbsp;● the date you retire or otherwise end employment with your employer under the [Plan](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8).

If your [Plan](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) permits, you may withdraw from your [Account Value](#bookmark_av_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) in the event you have an unforeseeable emergency.

&nbsp;&nbsp;&nbsp;&nbsp;● An unforeseeable emergency is a severe financial hardship arising from an illness or an accident to you, your spouse (as defined in federal law) or to a dependent (as defined in federal law), or the loss of your property due to casualty, certain funeral expenses or other similar extraordinary and unforeseeable circumstances arising from events beyond your control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● A severe financial hardship does not exist if your loss can be relieved through reimbursement by insurance, by liquidation of your other assets that does not cause severe financial hardship, or by the cessation of your [Deferred Compensation Amounts](#bookmark_dca_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8).

&nbsp;&nbsp;&nbsp;&nbsp;● The employer sponsoring the [Plan](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) will determine whether you face an unforeseeable emergency as defined in the [Plan](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8).

&nbsp;&nbsp;&nbsp;&nbsp;● If you have an unforeseeable emergency, you may withdraw from your [Account Value](#bookmark_av_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) up to the amount you need to meet the unforeseeable emergency (limited to the amount of your [Account Value](#bookmark_av_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)).

Your [Plan](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) also may provide for distribution of your [Account Value](#bookmark_av_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) to you:

&nbsp;&nbsp;&nbsp;&nbsp;● if your monthly annuity payment would be less than the minimum amounts set forth in your [Plan](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), or

&nbsp;&nbsp;&nbsp;&nbsp;● without your consent, if certain specified conditions are met, although your [Plan](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) may provide that you can elect to defer receipt of your [Account Value](#bookmark_av_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) in certain circumstances.

A [Plan](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) may, but is not required, to provide that:

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;● You may choose to receive the [Account Value](#bookmark_av_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), when you have a right to receive it, in a single sum or in installment payments instead of by receiving [Annuity Payments](#bookmark_ap_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8).

&nbsp;&nbsp;&nbsp;&nbsp;● You may elect to defer to a future date when withdrawals of your [Account Value](#bookmark_av_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) are to begin, which must begin by your required beginning date, which beginning in 2023 is the later of April 1 of the year following the year you reached age 73, or the year you terminate employment. Your [plan](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), if it contains this provision, will specify the time and manner for you to make this election and choose a form of payment and may impose certain conditions, such as irrevocability of the election (see "When You Must Take Minimum Distributions").

&nbsp;&nbsp;&nbsp;&nbsp;● You may make one election to extend the date at which you will begin receiving payments of your [Account Value](#bookmark_av_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8).

***Partial Withdrawals.*** If you are permitted to make withdrawals under your [Plan](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), you usually may specify a fixed amount of your [Account Value](#bookmark_av_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) to be withdrawn each month, or a fixed period during which we must pay out all of your [Account Value](#bookmark_av_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), and special rules may apply for the amount and timing of subsequent withdrawals. The amount withdrawn from each Investment Alternative that comprises your Account Value will be withdrawn proportionally from all Investment Alternatives in your account at the time of the withdrawal request, unless you instruct us otherwise. If your plan permits, you may elect to make partial withdrawals under our Specified Payments Option of at least $100. Unless you direct us otherwise, such amount will be taken proportionally across your Investment Alternatives.

If you are subject to the minimum distribution rules under the [Code](#bookmark_code_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), you should ensure that your withdrawals for the year equal or exceed the minimum required annual distribution. See "When You Must Take Minimum Distributions" below.

***Income Tax Consequences of Withdrawals.*** We do not charge a fee for withdrawals or partial withdrawals. You should consider the possible federal, state and local income tax consequences of any withdrawal. You usually will have income upon any withdrawal of your [Account Value](#bookmark_av_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), taxable at ordinary income tax rates on the amount withdrawn. Qualified distributions from a [Designated Roth Account](#bookmark_dra_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) are not taxable. In addition, we may be required to withhold federal income taxes or other federal or state taxes from the amount you withdraw.

You generally must begin taking distributions of [Account Value](#bookmark_av_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) by but not later than your required beginning date, which beginning in 2023 is the later of April 1 of the year following the year you reached age 73, or the year you terminate employment with the employer sponsoring the Plan. A [Plan](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), however, may require you if you are still employed to begin receiving minimum distributions at your required beginning date. If you reached age 70½ during a year prior to 2020, you were required to begin taking distributions of [Account Value](#bookmark_av_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) by April 1 of the year following the year you reached age 70½. However, the Coronavirus Aid, Relief, and Economic Security (CARES) Act waived all minimum required distributions for 2020. If you are subject to minimum distribution requirements, you may be required to make certain withdrawals from your [Account Value](#bookmark_av_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), or you may choose to begin receiving [Annuity Payments](#bookmark_ap_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) (if your [Plan](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) permits) to meet the requirements.

------

**Fee Table**

**The following tables describe the fees and expenses that you will pay when buying, owning, and surrendering or making withdrawals from an Investment Alternative or from the Contract. Please refer to your Contract specifications page for information about the specific fees you will pay each year.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**I.The first table describes the fees and expenses that you will pay when you become a** [**Participant**](#bookmark_part_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)**, when you surrender or make withdrawals from an Investment Alternative or from your Contract or participation interest or when you transfer your** [**Account Value**](#bookmark_av_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)**among** [**Investment Alternatives**](#bookmark_ia_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)**. State premium taxes may also be deducted but we do not currently deduct them.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| [**Participant**](#bookmark_part_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) **Transaction** <br> **Expenses**<br>| **Maximum** | **Current** | **Current** | **Current** | **Current** |
| Sales Load Imposed on <br> Contributions (as a <br> percentage of <br> Contributions)<br>|  |  |  |  |  |
| Deferred Sales Load (or <br> Surrender Charge) (as a <br> percentage of <br> Contributions or amount <br> surrendered, as <br> applicable)<br>|  |  |  |  |  |
| Transfer Fee |  |  |  |  |  |
| Loan Fees |  |  |  | [**Uncollateralized Loans**](#bookmark_ul_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) | [**Uncollateralized Loans**](#bookmark_ul_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) |
| Loan Fees |  |  | [**Collateralized**](#bookmark_cl_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)<br> [**Loans**](#bookmark_cl_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)<br>| **Payroll** <br> **Deduction**<br>| **Home Billing** |
| Loan Fees |  | Non-refundable <br> Origination Fee<br>|  | $75 | $350 |
| Loan Fees |  | Non-refundable <br> Annual Loan <br> Fee<br>|  | $15 | N/A |

---

------

**II.The next table describes the fees and expenses that you will pay *each year* during the time that you are a** [**Participant**](#bookmark_part_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) **(not including Underlying Fund fees and expenses). If you choose to purchase an optional benefit, you will pay additional charges, as shown below.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **ANNUAL CONTRACT EXPENSES** | **ANNUAL CONTRACT EXPENSES** | **ANNUAL CONTRACT EXPENSES** | **ANNUAL CONTRACT EXPENSES** | **ANNUAL CONTRACT EXPENSES** | **ANNUAL CONTRACT EXPENSES** | **ANNUAL CONTRACT EXPENSES** | **ANNUAL CONTRACT EXPENSES** | **ANNUAL CONTRACT EXPENSES** |
|  | **Maximum** | **Standard** | **Tier 1** <br> **Reduced** <br> **Fees (2)**<br>| **Tier 2** <br> **Reduced** <br> **Fees (2)**<br>| **Tier 3** <br> **Reduced** <br> **Fees (2)**<br>| **Tier 4** <br> **Reduced** <br> **Fees (2)**<br>| **Tier 5** <br> **Reduced** <br> **Fees (2)**<br>| **Inactive** <br> [**Plans**](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) **(3)**<br>|
| **Administrative** <br> **Expenses** <br> **(Annual** <br> **Contract Fee)**<br>| **$24** | **$24*(1)*** | **$24*(1)*** | **$24*(1)*** | **$24*(1)*** | **$24*(1)*** | **$24*(1)*** | **$24*(1)*** |
| **Base Contract** <br> **Expenses (as** <br> **a percentage** <br> **of average** <br> [**Account**](#bookmark_av_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)<br> [**Value**](#bookmark_av_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)**)(5)**<br>| **2.00%** | **1.45%*(4)*** | **.25%*(4)*** | **.35%*(4)*** | **.45%(4)** | **.60%(4)** | **.95%(4)** | **1.95%(4)** |
| **Loan Interest** <br> **Rate**<br>| [Collateralized Loans](#bookmark_ul_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8): Net Loan Interest Rate of 3%, which represents the difference <br> between the interest rate charged on a loan and the maximum credited rate for collateral <br> held in the General Account<br> [Uncollateralized Loans](#bookmark_cl_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8): Prime Rate +1% | [Collateralized Loans](#bookmark_ul_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8): Net Loan Interest Rate of 3%, which represents the difference <br> between the interest rate charged on a loan and the maximum credited rate for collateral <br> held in the General Account<br> [Uncollateralized Loans](#bookmark_cl_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8): Prime Rate +1% | [Collateralized Loans](#bookmark_ul_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8): Net Loan Interest Rate of 3%, which represents the difference <br> between the interest rate charged on a loan and the maximum credited rate for collateral <br> held in the General Account<br> [Uncollateralized Loans](#bookmark_cl_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8): Prime Rate +1% | [Collateralized Loans](#bookmark_ul_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8): Net Loan Interest Rate of 3%, which represents the difference <br> between the interest rate charged on a loan and the maximum credited rate for collateral <br> held in the General Account<br> [Uncollateralized Loans](#bookmark_cl_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8): Prime Rate +1% | [Collateralized Loans](#bookmark_ul_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8): Net Loan Interest Rate of 3%, which represents the difference <br> between the interest rate charged on a loan and the maximum credited rate for collateral <br> held in the General Account<br> [Uncollateralized Loans](#bookmark_cl_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8): Prime Rate +1% | [Collateralized Loans](#bookmark_ul_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8): Net Loan Interest Rate of 3%, which represents the difference <br> between the interest rate charged on a loan and the maximum credited rate for collateral <br> held in the General Account<br> [Uncollateralized Loans](#bookmark_cl_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8): Prime Rate +1% | [Collateralized Loans](#bookmark_ul_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8): Net Loan Interest Rate of 3%, which represents the difference <br> between the interest rate charged on a loan and the maximum credited rate for collateral <br> held in the General Account<br> [Uncollateralized Loans](#bookmark_cl_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8): Prime Rate +1% | [Collateralized Loans](#bookmark_ul_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8): Net Loan Interest Rate of 3%, which represents the difference <br> between the interest rate charged on a loan and the maximum credited rate for collateral <br> held in the General Account<br> [Uncollateralized Loans](#bookmark_cl_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8): Prime Rate +1% |

---

------

(1) **<u>Annual Contract Fee.</u>** The Annual Contract Fee of $24.00 is charged at a rate of $2 per month, subject to waiver as discussed in "*Monthly* [*Participant*](#bookmark_part_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) *Charges*" under "*Charges*".

(2) **<u>Reduced Fees.</u>** [Plans](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) may become eligible for the Tier 1 [Reduced Fee](#bookmark_rf_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), Tier 2 [Reduced Fee](#bookmark_rf_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), Tier 3 [Reduced Fee](#bookmark_rf_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), Tier 4 [Reduced Fee](#bookmark_rf_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) or Tier 5 [Reduced Fee](#bookmark_rf_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) if they have minimum amounts of assets in the [Separate Account](#bookmark_sa_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) and the [General Account](#bookmark_ga_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) combined ($50 million for the Tier 1 [Reduced Fee](#bookmark_rf_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), $25 million for the Tier 2 [Reduced Fee](#bookmark_rf_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), $5 million for the Tier 3 [Reduced Fee](#bookmark_rf_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), $2 million for the Tier 4 [Reduced Fee](#bookmark_rf_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)and $1 million for the Tier 5 [Reduced Fee](#bookmark_rf_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)) and satisfy the other criteria specified in the Charges section of this Prospectus. [Plans](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) that do not qualify for Reduced Fees because they have assets in the [Separate](#bookmark_sa_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)Account and the [General Account](#bookmark_ga_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) combined of less than $1 million, will be charged the Standard [Separate](#bookmark_sa_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)Account annual charge.

(3) **<u>Inactive</u>** [**<u>Plans</u>**](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)**<u>.</u>** An Inactive [Plan](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) will no longer be eligible for the standard Separate Account annual charge or Reduced Fees as of the last day of the quarter in which it became an Inactive [Plan](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8). For more information see "Charges".

(4) **<u>Reductions in</u>** [**<u>Separate Account</u>**](#bookmark_sa_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) **<u>Annual Expenses.</u>** [Separate Account](#bookmark_sa_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) Annual Expenses are reduced for [Plans](#bookmark_plan_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) that are part of certain national accounts. For more information see "Charges".

(5) Expense Risk Fee, Administrative Charges and Distribution Expense Charge may not exceed 2.00% of average Account Value in the aggregate.

------

**III.The next item shows the minimum and maximum total operating expenses charged by the** [**Underlying Funds**](#bookmark_uf_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) **that you may pay periodically during the time that you are a** [**Participant**](#bookmark_part_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)**. Expenses shown may change over time and may be higher or lower in the future. A complete list of** [**Underlying Funds**](#bookmark_uf_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) **available under the Contract, including their annual expenses, may be found in the Appendix to this Prospectus entitled "**[**Underlying**](#bookmark_uf_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)[**Funds**](#bookmark_uf_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) **As Investment Options Available Under the Contract".**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **Minimum** | **Maximum** |
| &nbsp;&nbsp;&nbsp; **Annual Underlying Fund Expenses**<br> (expenses deducted from Underlying Fund assets, including management fees, <br> distribution and/or service (12b-1) fees, and other expenses, as a percentage of <br> Underlying Fund average net assets)<br>| 0.14% | 8.91% |
| &nbsp;&nbsp;&nbsp; **Net Annual Underlying Fund Expenses**<br> (expenses deducted from the Underlying Fund assets, including management <br> fees, distribution and/or service (12b-1) fees, and other expenses as a percentage <br> of Underlying Fund average net assets) (after expense reimbursement)\*<br>| 0.14% | 1.24% |

---

------

\*

Certain of the Underlying Funds, including the fund with the maximum total annual fund operating expenses (before expense reimbursement), are subject to an expense reimbursement arrangement between such underlying funds and the investment adviser, which is expected to continue until at least April 30, 2027.

**Example**

------

**This Example below is intended to help you compare the cost of investing in the Subaccounts with the cost of investing in other variable annuity contracts. These costs include transaction expenses, Annual Contract Fees, Base Contract Expenses, and Underlying Fund fees and expenses and exclude Loan fees.**

**The Example assumes that you invest $100,000 under a Contract for the time periods indicated and that all Account Value is allocated to the Subaccounts.**

**We do not impose a surrender charge when you make a withdrawal of Account Value. As a result, the expenses would be the same whether or not you surrender the Account Value, or apply the Account Value for the purchase of an annuity (annuitize), at the end of the applicable time period.**

**The Example also assumes that your investment has a 5% annual rate of return each year and assumes the maximum Underlying Fund Fees and Expenses, the maximum Annual Contract Fee, the maximum Base Contract Expenses and optional benefits available for an additional charge. Although your actual costs may be higher or lower, based on these assumptions, your costs would be:** 

---

| | | | |
|:---|:---|:---|:---|
| **1 Year** | **3 Years** | **5 Years** | **10 Years** |
| $10644 | $33555 | $58811 | $133855 |

---

------

**Appendix A:** [**Underlying Funds**](#bookmark_uf_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) **Available As Investment Options Under the** [**Contracts**](#bookmark_con_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)

The following is a list of [Underlying Funds](#bookmark_uf_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) available under the [Contracts](#bookmark_con_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8). More information about the [Underlying Funds](#bookmark_uf_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) is available in the prospectuses for the [Underlying Funds](#bookmark_uf_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), which may be amended from time to time and are available on our website mutualofamerica.com/457Funds or you can request this information at no cost by calling 800.574.9267 or by sending an email to mutualofamerica@dfinsolutions.com.

The current expenses and performance information below reflects fees and expenses of the [Underlying](#bookmark_uf_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)[Funds](#bookmark_uf_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8), but do not reflect the other fees and expenses that your [Contract](#bookmark_con_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) may charge. Expenses would be higher and performance would be lower if these other charges were included. Each Underlying Fund's past performance is not necessarily an indication of future performance.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type/Investment** <br> **Objective** | [**Underlying Fund**](#bookmark_uf_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) **and**<br> **Adviser/Subadviser** | **Current** <br> **Expenses**<sup>1</sup> | **Average Annual Total Returns as of** <br> **12/31/25** | **Average Annual Total Returns as of** <br> **12/31/25** | **Average Annual Total Returns as of** <br> **12/31/25** |
| **Type/Investment** <br> **Objective** | [**Underlying Fund**](#bookmark_uf_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) **and**<br> **Adviser/Subadviser** | **Current** <br> **Expenses**<sup>1</sup> | **1 year** | **5 year** | **10 year** |
| Equity Fund <br> Seeks investment <br> results that correspond <br> to the investment <br> performance of <br> Standard & Poor's <br> 500<sup>®</sup> Composite Stock <br> Price Index (the "S&P <br> 500 Index"\*)<br>| [MoA](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) Equity Index Fund<br> Adviser: [Mutual of](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)<br> [America](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)Capital <br> Management LLC<br>| 0.14% | 17.68% | 14.52% | 14.65% |
| Equity Fund <br> Seeks to outperform <br> Russell 3000<sup>®</sup> Index\*\* <br> by investing in a <br> diversified portfolio of <br> primarily common <br> stocks<br>| [MoA](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) All America Fund<br> Adviser: Mutual of <br> America Capital <br> Management LLC<br>| 0.55% | 11.96% | 10.91% | 11.87% |
| Equity Fund <br> Seeks capital <br> appreciation<br>| [MoA](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) Small Cap Value <br> Fund<br> Adviser: [Mutual of](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)<br> [America](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) Capital <br> Management LLC<br>| 0.85% | 2.00% | 8.22% | 6.53% |
| Equity Fund <br> Seeks capital <br> appreciation<br>| [MoA](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) Small Cap Growth <br> Fund<br> Adviser: [Mutual of](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)<br> [America](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) Capital <br> Management LLC<br>| 0.85% | 8.52% | 1.75% | 8.77% |
| Equity Fund<br> Seeks investment <br> results that correspond <br> to investment <br> performance of S&P <br> SmallCap 600<sup>®</sup> Index\*<br>| [MoA](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) Small Cap Equity <br> Index Fund<br> Adviser: [Mutual of](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)<br> [America](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) Capital <br> Management LLC<br>| 0.25% | 5.80% | 7.11%<br>6.41%<sup>2</sup> <br>|  |

---

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type/Investment** <br> **Objective** | **Underlying Fund and**<br> **Adviser/Subadviser** | **Current** <br> **Expenses**<sup>1</sup> | **Average Annual Total Returns as of** <br> **12/31/25** | **Average Annual Total Returns as of** <br> **12/31/25** | **Average Annual Total Returns as of** <br> **12/31/25** |
| **Type/Investment** <br> **Objective** | **Underlying Fund and**<br> **Adviser/Subadviser** | **Current** <br> **Expenses**<sup>1</sup> | **1 year** | **5 year** | **10 year** |
| Equity Fund<br> Seeks capital <br> appreciation and, to a <br> lesser extent, current <br> income<br>| [MoA](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) Mid Cap Value Fund<br> Adviser: [Mutual of](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)<br> [America](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) Capital <br> Management LLC<br>| 0.70% | 2.48% | 7.82% | 8.10% |
| Equity Fund<br> Seeks investment <br> results that correspond <br> to investment <br> performance of S&P <br> MidCap 400<sup>®</sup> Index\*<br>| MoA Mid Cap Equity <br> Index Fund<br> Adviser: [Mutual of](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)<br> [America](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) Capital <br> Management LLC<br>| 0.17% | 7.28% | 8.93% | 10.52% |
| Equity Fund<br> Seeks capital <br> appreciation<br>| [MoA](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) International Fund<br> Adviser: [Mutual of](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)<br> [America](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) Capital <br> Management LLC<br>| 0.48% | 37.20% | 11.10% | 9.25% |
| Equity Fund<br> Seeks capital growth<br>| LVIP American Century <br> Capital Appreciation <br> Fund<br> Adviser: Lincoln Financial <br> Investments Corporation<br> SubAdviser: American <br> Century Investment <br> Management, Inc.<br>| 0.57% | 6.95% | 5.49%<br>12.13%<sup>3</sup> <br>|  |
| Equity Fund<br> Seeks long-term capital <br> appreciation<br>| American <br> Funds Insurance Series <br> New World Fund<br> Adviser: Capital <br> Research and <br> Management [Company](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)<br>| 0.57% | 28.60% | 5.59% | 9.53% |
| Equity Fund<br> Seeks long-term capital <br> growth<br>| American Century Small <br> Cap Growth R6<br>| 0.78% | 9.40% | 3.31% | 12.60% |
| Equity Fund<br> Seeks capital <br> appreciation<br>| Nomura VIP<sup>®</sup> Small Cap <br> Value Series <br> Adviser: Delaware <br> Management [Company](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)<br>| 0.74% | 8.16% | 9.26% | 9.15% |
| Equity Fund<br> Seeks to provide <br> long-term growth of <br> capital<br>| DWS Capital Growth VIP<br> Adviser: DWS Investment <br> Management Americas, <br> Inc. <br>| 0.49% | 12.53% | 10.92% | 15.29% |

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Type/Investment** <br> **Objective** | **Underlying Fund and**<br> **Adviser/Subadviser** | **Current** <br> **Expenses**<sup>1</sup> | **Average Annual Total Returns as of** <br> **12/31/25** | **Average Annual Total Returns as of** <br> **12/31/25** | **Average Annual Total Returns as of** <br> **12/31/25** | **Average Annual Total Returns as of** <br> **12/31/25** |
| **Type/Investment** <br> **Objective** | **Underlying Fund and**<br> **Adviser/Subadviser** | **Current** <br> **Expenses**<sup>1</sup> | **1 year** | **5 year** | **10 year** | **Life of** <br> **Fund**<br>|
| Equity Fund<br> Seeks reasonable <br> income and will also <br> consider potential for <br> capital appreciation. <br> Fund's goal is to <br> achieve a yield which <br> exceeds the composite <br> yield on the securities <br> comprising the S&P <br> 500<sup>®</sup> Index<br>| Fidelity VIP <br> Equity-Income Portfolio<br> Adviser: Fidelity <br> Management & Research <br> [Company](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) LLC (FMR)<br> Subadvisers: FMR <br> Investment Management <br> (UK) Limited, Fidelity <br> Management & Research <br> (Hong Kong) Limited, and <br> Fidelity Management & <br> Research Japan Limited <br> serve as sub-advisers.<br>| 0.46% | 19.02% | 12.51% | 11.60% |  |
| Equity Fund<br> Seeks long-term capital <br> appreciation<br>| Fidelity VIP Contrafund<sup>®</sup> <br> Portfolio<br> Adviser: Fidelity <br> Management & Research <br> [Company](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) LLC (FMR)<br> Subadvisers: FMR <br> Investment Management <br> (UK) Limited, Fidelity <br> Management & Research <br> (Hong Kong) Limited, and <br> Fidelity Management & <br> Research Japan Limited <br> serve as sub-advisers.<br>| 0.54% | 21.52% | 15.37% | 15.78% |  |
| Equity Fund<br> Seeks long-term <br> growth of capital<br>| Fidelity VIP Mid Cap <br> Portfolio<br> Adviser: Fidelity <br> Management & Research <br> [Company](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) LLC (FMR)<br> Subadvisers: FMR <br> Investment Management <br> (UK) Limited, Fidelity <br> Management & Research <br> (Hong Kong) Limited, and <br> Fidelity Management & <br> Research Japan Limited <br> serve as sub-advisers.<br>| 0.55% | 11.75% | 10.10% | 10.59% |  |
| Equity Fund<br> Seeks long-term <br> growth of capital<br>| Goldman Sachs VIT <br> Small Cap Equity Insights <br> Fund<br> Adviser: Goldman Sachs <br> Asset Management, L.P. <br>| 0.82% | 16.14% | 10.47% | 10.84% |  |
| Equity Fund<br> Seeks long-term <br> growth of capital and <br> dividend income<br>| Goldman Sachs VIT US <br> Equity Insights Fund<br> Adviser: Goldman Sachs <br> Asset Management, L.P. <br>| 0.56% | 15.75% | 13.81% | 13.73% |  |

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Type/Investment** <br> **Objective** | **Underlying Fund and**<br> **Adviser/Subadviser** | **Current** <br> **Expenses**<sup>1</sup> | **Average Annual Total Returns as of** <br> **12/31/25** | **Average Annual Total Returns as of** <br> **12/31/25** | **Average Annual Total Returns as of** <br> **12/31/25** | **Average Annual Total Returns as of** <br> **12/31/25** |
| **Type/Investment** <br> **Objective** | **Underlying Fund and**<br> **Adviser/Subadviser** | **Current** <br> **Expenses**<sup>1</sup> | **1 year** | **5 year** | **10 year** | **Life of** <br> **Fund**<br>|
| Equity Fund<br> Seeks capital <br> appreciation<br>| Invesco V.I. Main Street <br> Fund<sup>®</sup> <br>Adviser: Invesco <br> Advisers, Inc.<br>| 0.80% | 15.93% | 12.47% | 12.53% |  |
| Equity Fund<br> Seeks capital <br> appreciation<br>| MFS<sup>®</sup> VIT III Mid Cap <br> Value Portfolio<br> Adviser: MFS<br>| 0.79% | 5.98% | 10.18% | 9.95% |  |
| Equity Fund<br> Seeks long-term <br> growth of capital by <br> investing primarily in <br> securities of <br> companies that meet <br> Fund's environmental, <br> social and governance <br> (ESG) criteria<br>| Neuberger Berman <br> Advisers Management <br> Trust Sustainable Equity <br> Portfolio<br> Adviser: Neuberger <br> Berman Investment <br> Advisers LLC <br>| 0.87% | 13.71% | 12.83% | 12.94% |  |
| Equity Fund<br> Seeks to provide <br> long-term capital <br> growth with income as <br> secondary objective<br>| T. Rowe Price Blue Chip <br> Growth Portfolio<br> Adviser: T. Rowe Price <br> Associates, Inc.<br>| 0.75% | 18.74% | 11.68% | 15.54% |  |
| Equity Fund<br> Seeks to provide <br> long-term capital <br> appreciation and <br> income<br>| Vanguard Variable <br> Insurance Fund <br> Diversified Value <br> Portfolio<sup>®</sup> <br>Advisers: Lazard Asset <br> Management LLC and <br> Hotchkis and Wiley <br> Capital Management, <br> LLC<br>| 0.28% | 16.83% | 13.24% | 11.76% |  |
| Equity Fund<br> Seeks to provide <br> long-term capital <br> appreciation<br>| Vanguard Variable <br> Insurance <br> Fund International <br> Portfolio<sup>®</sup> <br>Advisers: Baillie Gifford <br> Overseas Ltd. And <br> Schroder Investment <br> Management North <br> America Inc.<br>| 0.32% | 19.97% | 0.62% | 10.48% |  |

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Type/Investment** <br> **Objective** | **Underlying Fund and**<br> **Adviser/Subadviser** | **Current** <br> **Expenses**<sup>1</sup> | **Average Annual Total Returns as of** <br> **12/31/25** | **Average Annual Total Returns as of** <br> **12/31/25** | **Average Annual Total Returns as of** <br> **12/31/25** | **Average Annual Total Returns as of** <br> **12/31/25** |
| **Type/Investment** <br> **Objective** | **Underlying Fund and**<br> **Adviser/Subadviser** | **Current** <br> **Expenses**<sup>1</sup> | **1 year** | **5 year** | **10 year** | **Life of** <br> **Fund**<br>|
| Real Estate Fund<br> Seeks to provide a high <br> level of income and <br> moderate long-term <br> capital appreciation by <br> tracking performance <br> of a benchmark index <br> that measures <br> performance of publicly <br> traded equity REITs <br> and other real <br> estate-related <br> investments<br>| Vanguard Variable <br> Insurance Fund Real <br> Estate Index Portfolio<sup>®</sup> <br>Adviser: The Vanguard <br> Group, Inc.<br>| 0.26% | 3.11% | 4.51% | 5.08% |  |
| Fixed Income Fund<br> Seeks current income <br> to extent consistent <br> with maintenance of <br> liquidity, investment <br> quality and stability of <br> capital<br>| MoA US Government <br> Money Market Fund<br> Adviser: [Mutual of](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)<br> [America](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) Capital <br> Management LLC<br>| 0.23% | 4.15% | 3.06% | 1.96% |  |
| Fixed Income Fund<br> Primary investment <br> objective is to produce <br> a high level of current <br> income with secondary <br> investment objective to <br> preserve shareholders' <br> capital<br>| MoA Intermediate Bond <br> Fund<br> Adviser: [Mutual of](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)<br> [America](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) Capital <br> Management LLC<br>| 0.47% | 6.65% | 0.74% | 2.14% |  |
| Fixed Income Fund<br> Seeks current income, <br> with preservation of <br> shareholders' capital a <br> secondary objective<br>| [MoA](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) Core Bond Fund<br> Adviser: [Mutual of](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)<br> [America](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) Capital <br> Management LLC<br>| 0.45% | 7.58% | -0.56% | 1.92% |  |

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Type/Investment** <br> **Objective** | **Underlying Fund and**<br> **Adviser/Subadviser** | **Current** <br> **Expenses**<sup>1</sup> | **Average Annual Total Returns as of** <br> **12/31/25** | **Average Annual Total Returns as of** <br> **12/31/25** | **Average Annual Total Returns as of** <br> **12/31/25** | **Average Annual Total Returns as of** <br> **12/31/25** |
| **Type/Investment** <br> **Objective** | **Underlying Fund and**<br> **Adviser/Subadviser** | **Current** <br> **Expenses**<sup>1</sup> | **1 year** | **5 year** | **10 year** | **Life of** <br> **Fund**<br>|
| Fixed Income<br> Seeks to achieve its <br> investment objective by <br> investing under normal <br> circumstances at least <br> 80% of its net assets in <br> inflation-indexed bonds <br> of varying maturities <br> issued by the U.S. and <br> non-U.S. governments, <br> their agencies or <br> instrumentalities and <br> corporations, which <br> may be represented by <br> forwards or derivatives <br> such as options, <br> futures contracts or <br> swap agreements <br>| PIMCO Variable <br> Insurance Trust Real <br> Return Portfolio <br> (Institutional Class)<br> Adviser: Pacific <br> Investment Management <br> [Company](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) LLC <br>| 1.24% | 8.01% | 1.36% | 3.37% |  |
| Fixed Income Fund<br> Seeks to track the <br> performance of a <br> broad, market-weighted <br> bond index<br>| Vanguard Variable <br> Insurance Fund Total <br> Bond Market Index <br> Portfolio<sup>®</sup> <br>Adviser: The Vanguard <br> Group, Inc.<br>| 0.14% | 6.94% | -0.51% | 1.90% |  |
| Balanced Fund<br> Seeks capital <br> appreciation and <br> current income by <br> investing in a <br> diversified portfolio of <br> common stocks, debt <br> securities and money <br> market instruments<br>| [MoA](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) Balanced Fund<br> Adviser: [Mutual of](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)<br> [America](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) Capital <br> Management LLC<br>| 0.57% | 18.82% | 10.50% | 10.04% |  |
| Balanced Fund<br> Seeks to obtain high <br> total return with <br> reduced risk over the <br> long term by allocating <br> Fund assets among <br> stocks, bonds, and <br> short-term instruments<br>| Fidelity VIP Asset <br> Manager Portfolio<br> Adviser: Fidelity <br> Management & Research <br> [Company](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) LLC (FMR)<br> Subadvisers: FMR <br> Investment Management <br> (UK) Limited, Fidelity <br> Management & Research <br> (Hong Kong) Limited, and <br> Fidelity Management & <br> Research Japan Limited <br> serve as sub-advisers.<br>| 0.51% | 14.98% | 5.67% | 7.13% |  |

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Type/Investment** <br> **Objective** | **Underlying Fund and**<br> **Adviser/Subadviser** | **Current** <br> **Expenses**<sup>1</sup> | **Average Annual Total Returns as of** <br> **12/31/25** | **Average Annual Total Returns as of** <br> **12/31/25** | **Average Annual Total Returns as of** <br> **12/31/25** | **Average Annual Total Returns as of** <br> **12/31/25** |
| **Type/Investment** <br> **Objective** | **Underlying Fund and**<br> **Adviser/Subadviser** | **Current** <br> **Expenses**<sup>1</sup> | **1 year** | **5 year** | **10 year** | **Life of** <br> **Fund**<br>|
| Balanced Fund<br> Seeks to achieve <br> competitive total return <br> through actively <br> managed portfolio of <br> stocks, bonds, and <br> money market <br> instruments which offer <br> income and capital <br> growth opportunity<br>| Calvert VP SRI Balanced <br> Portfolio<br> Adviser: Calvert <br> Research and <br> Management<br>| 0.64% | 11.48% | 8.68% | 9.81% |  |
| Balanced Fund<br> Seeks current income <br> and, to a lesser extent, <br> capital appreciation<br>| [MoA](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) Conservative <br> Allocation Fund<br> Adviser: [Mutual of](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)<br> [America](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) Capital <br> Management LLC<br>| 0.50% | 11.06% | 4.74% | 5.95% |  |
| Balanced Fund<br> Seeks capital <br> appreciation and <br> current income<br>| [MoA](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) Moderate Allocation <br> Fund<br> Adviser: [Mutual of](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)<br> [America](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) Capital <br> Management LLC<br>| 0.38% | 15.40% | 7.80% | 8.67% |  |
| Balanced Fund<br> Seeks capital <br> appreciation and, to a <br> lesser extent, current <br> income<br>| [MoA](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) Aggressive <br> Allocation Fund<br> Adviser: [Mutual of](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)<br> [America](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) Capital <br> Management LLC<br>| 0.39% | 16.16% | 9.14% | 10.03% |  |
| Balanced Funds<br> Seeks current income <br> consistent with <br> preservation of capital <br> and, to a lesser extent, <br> capital appreciation<br>| [MoA](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) Retirement Income <br> Fund<br> Adviser: [Mutual of](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)<br> [America](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) Capital <br> Management LLC<br>| 0.53% | 10.53% | 4.13% | 5.18% |  |
| Balanced Funds<br> Seeks current income <br> and capital <br> appreciation <br> appropriate for asset <br> allocation associated <br> with Fund's <br> approximate year of <br> retirement which is <br> included in its name<br>| [MoA](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) Clear Passage 2020 <br> Fund<br> Adviser: [Mutual of](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)<br> [America](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) Capital <br> Management LLC<br>| 0.49% | 11.18% | 5.11% | 6.75% |  |

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Type/Investment** <br> **Objective** | **Underlying Fund and**<br> **Adviser/Subadviser** | **Current** <br> **Expenses**<sup>1</sup> | **Average Annual Total Returns as of** <br> **12/31/25** | **Average Annual Total Returns as of** <br> **12/31/25** | **Average Annual Total Returns as of** <br> **12/31/25** | **Average Annual Total Returns as of** <br> **12/31/25** |
| **Type/Investment** <br> **Objective** | **Underlying Fund and**<br> **Adviser/Subadviser** | **Current** <br> **Expenses**<sup>1</sup> | **1 year** | **5 year** | **10 year** | **Life of** <br> **Fund**<br>|
| Balanced Funds<br> Seeks current income <br> and capital <br> appreciation <br> appropriate for asset <br> allocation associated <br> with Fund's <br> approximate year of <br> retirement which is <br> included in its name<br>| [MoA](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) Clear Passage 2025 <br> Fund<br> Adviser: [Mutual of](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)<br> [America](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) Capital <br> Management LLC<br>| 0.44% | 12.81% | 6.35% | 7.88% |  |
| Balanced Funds<br> Seeks current income <br> and capital <br> appreciation <br> appropriate for asset <br> allocation associated <br> with Fund's <br> approximate year of <br> retirement which is <br> included in its name<br>| [MoA](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) Clear Passage 2030 <br> Fund<br> Adviser: [Mutual of](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)<br> [America](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) Capital <br> Management LLC<br>| 0.43% | 13.85% | 7.62% | 8.95% |  |
| Balanced Funds<br> Seeks current income <br> and capital <br> appreciation <br> appropriate for asset <br> allocation associated <br> with Fund's <br> approximate year of <br> retirement which is <br> included in its name<br>| [MoA](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) Clear Passage 2035 <br> Fund<br> Adviser: [Mutual of](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)<br> [America](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) Capital <br> Management LLC<br>| 0.40% | 15.32% | 8.84% | 9.90% |  |
| Balanced Funds<br> Seeks current income <br> and capital <br> appreciation <br> appropriate for asset <br> allocation associated <br> with Fund's <br> approximate year of <br> retirement which is <br> included in its name<br>| [MoA](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) Clear Passage 2040 <br> Fund<br> Adviser: [Mutual of](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)<br> [America](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) Capital <br> Management LLC<br>| 0.37% | 16.95% | 10.03% | 10.61% |  |
| Balanced Funds<br> Seeks current income <br> and capital <br> appreciation <br> appropriate for asset <br> allocation associated <br> with Fund's <br> approximate year of <br> retirement which is <br> included in its name<br>| [MoA](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) Clear Passage 2045 <br> Fund<br> Adviser: [Mutual of](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)<br> [America](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) Capital <br> Management LLC<br>| 0.36% | 17.70% | 10.49% | 10.82% |  |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type/Investment** <br> **Objective** | **Underlying Fund and**<br> **Adviser/Subadviser** | **Current** <br> **Expenses**<sup>1</sup> | **Average Annual Total Returns as of** <br> **12/31/25** | **Average Annual Total Returns as of** <br> **12/31/25** | **Average Annual Total Returns as of** <br> **12/31/25** |
| **Type/Investment** <br> **Objective** | **Underlying Fund and**<br> **Adviser/Subadviser** | **Current** <br> **Expenses**<sup>1</sup> | **1 year** | **5 year** | **10 year** |
| Balanced Funds<br> Seeks current income <br> and capital <br> appreciation <br> appropriate for asset <br> allocation associated <br> with Fund's <br> approximate year of <br> retirement which is <br> included in its name<br>| [MoA](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) Clear Passage 2050 <br> Fund<br> Adviser: [Mutual of](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)<br> [America](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) Capital <br> Management LLC<br>| 0.37% | 17.82% | 10.69% | 10.95% |
| Balanced Funds<br> Seeks current income <br> and capital <br> appreciation <br> appropriate for asset <br> allocation associated <br> with Fund's <br> approximate year of <br> retirement which is <br> included in its name<br>| [MoA](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) Clear Passage 2055 <br> Fund<br> Adviser: Mutual of <br> America Capital <br> Management LLC<br>| 0.38% | 18.27% | 10.86%<br>11.13%<sup>4</sup> <br>|  |
| Balanced Funds<br> Seeks current income <br> and capital <br> appreciation <br> appropriate for asset <br> allocation associated <br> with Fund's <br> approximate year of <br> retirement which is <br> included in its name<br>| [MoA](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) Clear Passage 2060 <br> Fund<br> Adviser: [Mutual of](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)<br> [America](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) Capital <br> Management LLC<br>| 0.40% | 18.45% | 11.05%<br>10.72%<sup>5</sup> <br>|  |
| Balanced Funds<br> Seeks current income <br> and capital <br> appreciation <br> appropriate for asset <br> allocation associated <br> with Fund's <br> approximate year of <br> retirement which is <br> included in its name<br>| [MoA](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) Clear Passage 2065 <br> Fund<br> Adviser: [Mutual of](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)<br> [America](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) Capital <br> Management LLC<br>| 0.49% | 18.17% | 11.18%<br>13.74%<sup>6</sup> <br>|  |
| Balanced Funds<br> Seeks current income <br> and capital <br> appreciation <br> appropriate for asset <br> allocation associated <br> with Fund's <br> approximate year of <br> retirement which is <br> included in its name<br>| MoA Clear Passage 2070 <br> Fund<br> Adviser: Mutual of <br> America Capital <br> Management LLC<br>| 0.41%<br>19.49%<sup>7</sup> <br>|  |  |  |

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\*

"Standard & Poor's," "S&P," "S&P 500", "S&P MidCap 400" and "S&P SmallCap 600" are trademarks of Standard & Poor's Financial Services LLC, a subsidiary of The McGraw-Hill Companies, Inc. and have been licensed for use by Mutual of America Investment Corporation's Adviser. Standard & Poor's does not sponsor, endorse, sell or promote the Equity Index Fund, All America Fund, Small Cap Equity Index Fund or Mid-Cap Equity Index Fund. It has no obligation or liability for the sale or operation of the Funds and makes no representations as to the advisability of investing in the Funds.

The reported expense ratio for the following funds is net of fee waivers that may not continue: MoA Small Cap Equity Index Fund, MoA Clear Passage 2070 Fund, American Funds Insurance Series New World Fund, Calvert VP SRI Balanced Portfolio, Fidelity VIP Asset Manager Portfolio, all Goldman Sachs VIT Funds, Invesco V.I. Main Street Fund, and MFS VIT III Mid Cap Value Portfolio. Refer to the prospectuses of the Underlying Funds for more information.

Since inception date July 2, 2018.

Since inception date September 22, 2017.

Since inception date October 1, 2016.

Since inception date July 2, 2018.

Since inception date August 3, 2020.

Since inception date May 1, 2025.

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[**Mutual of America**](#bookmark_comp_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8)[**Separate Account**](#bookmark_sa_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) **No. 2**

**320 Park Avenue, New York, New York 10022-6839**

[**You**](#bookmark_you_4141d3c2-d4a5-44f7-8c88-cddc87ca32f8) **May Obtain More Information**

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The Statement of Additional Information (the "SAI") dated May 1, 2026 contains additional information about this Contract, the Separate Account, and our operations. The SAI has been filed with the SEC and is incorporated by reference into this Prospectus. The SAI is available, without charge, upon request. You may obtain a free copy of the SAI, request other information about the Contracts, or make investor inquiries, by writing to Mutual of America at 320 Park Avenue, New York, NY 10022-6839, or calling us at 800.574.9267.

You may also obtain the Prospectus, SAI and other information free of charge through the Mutual of America Life Insurance Company website at http://www.mutualofamerica.com.

The SEC has a website at http://www.sec.gov. Reports and other information about Separate Account No. 2 are available through that SEC website. You also may obtain copies of reports and other information about the Separate Account, upon your payment of a duplicating fee, by electronic request at this e-mail address: publicinfo@sec.gov.

*Investment* Company Act of 1940 Act File Number 811-03996 <br>Securities Act of 1933 Registration Number 33-05609

EDGAR Contract identifier C000025765.

**Prospectus dated May 1, 2026**

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