Mutual of America Life Insurance Company

Item 5      Fees and Compensation

The investment allocation services described above are available only to certain large clients with
variable annuity contracts and pension investment contracts issued by Mutual of America used to fund
their defined benefit pension plans. There is currently no additional charge for these services.

Clients under group variable annuity contracts also pay the Annual Separate Account Expenses and
underlying fund expenses including investment management fees and other expenses of each Separate
Account investment fund and Individual Separate Account to which pension assets are allocated. These
fees and expenses are not paid to the registrant for investment advisory services, but include charges
paid to Mutual of America in connection with the maintenance, distribution and administration of the
annuity contracts, the Separate Account, and Individual Separate Account(s). Other fees and expenses
include the asset-based investment management fees of the underlying funds in which the Separate
Account investment funds invest which are paid to each fund’s respective investment adviser, and other
expenses of the underlying funds and, in the case of an Individual Separate Account, the asset-based
investment management fees and other expenses for such Individual Separate Account. Mutual of
America is not the investment adviser for any of the underlying funds of the Separate Account or for the
Individual Separate Account(s).

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Item 7      Types of Clients

Mutual of America provides investment allocation services for the group variable annuity contracts and
pension investment contracts issued to certain clients to fund their defined benefit pension plans. With
limited exceptions, a client must have pension plan assets of at least $1,000,000 under the contract in
order to be eligible for asset allocation management.