Mutual Of America Separate Account No 3

04/27/2026 | Press release | Distributed by Public on 04/27/2026 11:41

Notice Document by Insurance Company (Form N-VP)

Registration No. 333-83413
Annual Notice
Dated May 1, 2026
to Policyowners of
Variable Universal Life Insurance Policy ("VUL Policies") issued by
Mutual of America Life Insurance Company ("Mutual of America"),
through its Separate Account No. 3
This Annual Notice ("Annual Notice") provides you with an update of changes to your Policy that have occurred since May 1, 2025. In addition, this Annual Notice provides key information about your policy that you should review, including a list of Underlying Funds available under your policy. Please read this Annual Notice carefully and retain it with your policy prospectus for future reference.
The most recent prospectus, dated May 1, 2019, contains more information about the VUL Policies, including its features, benefits, and risks. You can find the prospectuses, statements of additional information and shareholder reports for the Underlying Funds listed in the appendix to this Annual Notice, the most recent audited financial statements of the separate account, and Mutual of America and other information about the policies online at mutualofamerica.com/VULFunds. You can also obtain this information at no cost by calling 800.574.9267 or by sending an email request to [email protected].
Additional general information about certain investment products, including variable life insurance policies, has been prepared by the Securities and Exchange Commission's staff and is available at Investor.gov.
The Securities and Exchange Commission has not approved these securities or determined that this Annual Notice is accurate or complete. Any representation to the contrary is a criminal offense.
Definitions we use in this annual notice
Accelerated Benefit-The portion of the Death Proceeds payable before the death of the insured person when the insured person is determined to have a terminal illness and is expected to live for 12 months or less.
Account Value-The value of a Policyowner's Accumulation Units in the Subaccounts plus the value of amounts held in the General Account for the Policyowner. As used in this Prospectus, the term "Account Value" may mean all or any part of your total Account Value.
Accumulation Unit-A measure we use to calculate the value of a Policyowner's interest in each of the Subaccounts. Each Subaccount has its own Accumulation Unit value.
Death Proceeds-An amount equal to the sum of the Basic Death Benefit and amounts payable under any policy riders, minus the sum of any Policy Loans and any unpaid monthly deductions, subject to any applicable adjustments for misrepresentation, suicide or misstatement of age and/or sex.
General 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 as the Interest Accumulation Account, because amounts you allocate to the General Account earn interest at a rate that we change from time to time.
Insured Person-The person on whose life a Policy is issued, or in other words the person whose death will trigger payment of a death benefit under your Policy.
Investment Alternatives-Our General Account and the Subaccounts. You may allocate your premiums and transfer your Account Value among the Investment Alternatives.
Maturity Date-The Policy Anniversary on which the insured person's attained age equals 100.
Payroll Deduction Program-A program established by an employer under which it agrees with its participating employees to deduct on each pay date from the employees' salaries the scheduled premium payments for Policies owned by the employees, their spouses or minor children. The employer remits the premiums to us.
Payroll Deduction Rider-A rider to a Policy issued under a Payroll Deduction Program. If required by your State, we will incorporate the provisions regarding Payroll Deduction into your Policy in lieu of issuing a rider.
Policy Loan-The outstanding principal and unpaid accrued interest for any loan in effect under a Policy.
Policyowner-The person designated on the Policy Specification Pages of your Policy as the owner.
Proceeds-The amount we will pay upon (a) surrender of the Policy, (b) the death of the insured person or (c) the Maturity Date, which amount will vary depending on the type of Proceeds being paid.
Processing Office-The office of Mutual of America, or any other location we may announce by advance written notice to Policyowners, a field office we have designated, our toll-free telephone facility or our Financial Transaction Processing Center, depending on the transaction requested.
Separate Account-Mutual of America Separate Account No. 3, a separate account of Mutual of America maintained under the laws of New York State and registered with the Securities and Exchange Commission under the Investment Company Act of 1940. The assets of the Separate Account are set aside and kept separate from our other assets.
Subaccount-A division of the Separate Account which invests its assets exclusively in a corresponding Underlying Fund of the same name.
Surrender Proceeds-Amount payable upon surrender of a Policy, equal to the Account Value minus any Policy Loans outstanding at the time of surrender.
Underlying Funds-The funds or portfolios that are invested in by the Subaccounts.
1
Valid Transaction Date-The Business Day on which all of the requirements for the completion of a transaction have been met. This includes receipt by us at our Processing Office of all information, remittances, notices and papers necessary to process the requested transaction. If requirements are met on a day that is not a Business Day, or after the close of a Business Day, the Valid Transaction Date will be the next following Business Day.
We, us, our, Mutual of America-Refer to Mutual of America Life Insurance Company.
Written Request-A written request on an administrative form provided by us or in a form otherwise acceptable to us.
You, your-Refer to a Policyowner.
2
Important Information You Should Consider About the VUL Policies
 
Fees and Expenses
Location in
Prospectus
Charges for Early
Withdrawals
We do not impose any transfer or withdrawal charges.
You may withdraw any portion of your Account Value (before the
death of the Insured Person). A partial withdrawal must be in an
amount of at least $500, may not reduce the Account Value to
less than $100, and cannot exceed the Account Value minus any
Policy Loans.
Surrender Proceeds equal your Account Value minus any Policy
Loans you have outstanding at the time of surrender and any
due and unpaid charges. You may surrender your Policy and
obtain the Surrender Proceeds at any time prior to the Maturity
Date. To surrender your Policy, you must submit the Policy and a
Written Request to our Processing Office, and the Insured
Person must be alive on the surrender date. We will calculate the
Surrender Proceeds as of the Valid Transaction Date of the
surrender, and all insurance benefits, and supplemental benefits
you have added, under your Policy will then cease.
Access to Your
Account Value
Transaction
Charges
There are no charges for other transactions under the Policy,
other than certain fees associated with Policy Loans,
supplemental insurance benefits, and an Accelerated Benefit.
Charges and
Deductions You
Will Pay
Ongoing Fees
and Expenses
(annual charges)
In addition to transaction charges, an investment in the Policy is
subject to certain ongoing fees and expenses, including fees and
expenses covering the cost of insurance under the Policy and
the cost of optional benefits under the Policy, and such fees and
expenses are set based on characteristics of the insured. Please
refer to your Policy specifications page for rates applicable to
your Policy. Investors will also bear expenses associated with the
Underlying Funds under the Policy, as shown in the table below.
Charges and
Deductions You
Will Pay
Annual Fee
Minimum
Maximum
Investment options (Underlying
Fund fees and expenses)
0.09%
1.24%
Risks
Risk of Loss
You can lose money by investing in this Policy.
Introduction and
Summary
Not a Short-Term
Investment
This Policy is not a short-term investment and is not appropriate
for an investor who needs ready access to cash. In particular:
●Tax deferral is more beneficial to Participants with a long-term
investment time horizon.
●Surrenders and partial withdrawals are subject to ordinary
income tax.
●The Policy is not intended for those who may need to make
withdrawals or intend to engage in frequent trading in the
Underlying Funds.
Introduction and
Summary
Where to Contact
Us and Give Us
Instructions
3
Risks
Risks Associated
with Investment
Options
An investment in the Policy is subject to the risk of poor
investment performance, and can vary, depending on the
performance of the Underlying Funds. Each investment option
available under the Policy, including the General Account, will
have its own unique risks. You should review these Investment
Alternatives before making an investment decision.
Introduction and
Summary
Insurance
Company Risks
An investment in the Policy is subject to the risks related to
Mutual of America Life Insurance Company, including that any
obligations (including under the General Account), guarantees,
and benefits of the Policy are subject to the claims paying ability
of Mutual of America. More information about Mutual of
America, including its financial strength ratings, is available upon
request from Mutual of America by calling our toll-free number,
800.468.3785 or by visiting our website at mutualofamerica.com.
About Mutual of
America and our
Separate Account
No. 3
Contract Lapse
Your Policy may lapse, or you may have to make unscheduled
premium payments, if your Account Value declines from
unfavorable investment performance of the Underlying Funds
and your Account Value is not sufficient to pay the charges then
due under your Policy. It is possible for policy loans to exceed
account value, resulting in a lapse.
The lapsed Policy may be reinstated during the Insured Person's
lifetime if certain conditions are met, including you pay, at the
time of restatement, premiums sufficient to keep the Policy in
effect for at least two months (and at least three months, for
policies issued on or after January 1, 2009), and you pay any
charges not paid during the grace period.
Death benefits will not be paid if the Policy has lapsed.
Policy Lapse and
Reinstatement
Restrictions
Investments
We may remove an Underlying Fund or limit its availability to new
Contributions and/or transfers of Account Value if we determine
that an Underlying Fund no longer satisfies one or more of our
selection criteria.
Funding and Other
Changes We May
Make
4
Restrictions
Optional Benefits
We may make one or more supplemental insurance benefits
available by rider to your Policy, including accidental death
coverage and coverage for children of an Insured Person.
Currently, supplemental insurance benefits are available only for
Policies with Payroll Deduction Riders. We will charge you a
monthly cost for any supplemental insurance benefits you select.
You may borrow up to 95% of your Account Value in the General
Account (or up to 95% of the cash surrender value of the Policy
for policies issued on or after January 1, 2009), minus any
existing Policy Loans. Each Policy Loan must be for at least
$500, and you must assign the Policy to us as collateral. We will
charge you interest on the Policy Loan, and we may change the
interest rate from time to time. We deduct any Policy Loans from
the amount otherwise due you upon the surrender or maturity of
the Policy or from the Death Proceeds due upon the death of the
Insured Person.
We will not permit you to make withdrawals or transfers of the
collateral amount while the loan is outstanding. Amounts
borrowed in a loan do not participate in the Subaccount
investment experience. Loans, therefore, can affect the Account
Value and death benefit whether or not the loan is repaid. Death
benefit proceeds payable will be reduced by the amount of any
outstanding Policy Loan plus accrued interest.
Purchase of a
Policy-Supplemental
Insurance Benefits
Access to your
Account
Value-Policy
Loans
Taxes
Tax Implications
You should consult with a tax professional to determine the tax
implications of an investment in and payments received under
the Policy. There is no additional tax benefit to you if the Policy is
purchased through a tax-qualified plan or individual retirement
account. Withdrawals will be subject to ordinary income tax and
may be subject to tax penalties.
Federal Tax
Considerations
Conflicts of Interest
Investment
Professional
Compensation
Mutual of America no longer offers the Policy for sale.
Purchase of a
Policy
Exchanges
Because the Policy is no longer sold, you would not be affected
by a scenario in which you are asked to replace an existing life
insurance policy you own with a new purchase of this Policy. In
general, you should be aware that some investment
professionals may have a financial incentive to offer you a new
policy in place of the Policy you already own. Thus, in general,
you should only exchange your Policy if you determine, after
comparing the features, fees, and risks of both policies, that it is
preferable for you to purchase the new policy rather than
continue to own the existing Policy.
Purchase of a
Policy
5
Appendix: Underlying Funds Available as Investment Options under the VUL Policies
The following is a list of Underlying Funds available under the VUL Policies. More information about the Underlying Funds is available in the prospectuses for the Underlying Funds, which may be amended from time to time and are available on our website, mutualofamerica.com/VULFunds. You can also request this information at no cost by calling 800.574.9267 or by sending an email request to [email protected].
The current expenses and performance information below reflects fees and expenses of the Underlying Funds, but do not reflect the other fees and expenses that your VUL Policy 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
Objective
Underlying Fund and
Adviser/Subadviser
Current
Expenses1
Average Annual Total Returns as of
12/31/25
1 year
5 year
10 year
Life of
Fund
Equity Fund
Seeks investment
results that correspond
to the total return of
common stocks
publicly traded in the
United States , as
represented by the
S&P 500® Index
Fidelity VIP Index 500
(Initial Class)
Adviser: Fidelity
Management & Research
Company LLC (FMR)
Subadvisers: FMR
Investment Management
(UK) Limited, Fidelity
Management & Research
(Hong Kong) Limited, and
Fidelity Management &
Research Japan Limited
serve as sub-advisers.
0.09%
17.78%
14.31%
14.70%
Equity Fund
Seeks to achieve
long-term capital
appreciation
Dimensional VA U.S.
Targeted Value Portfolio
Adviser: Dimensional
Fund Advisors LP
0.29%
8.95%
13.60%
11.00%
Equity Fund
Seeks to provide
long-term capital
appreciation
Vanguard Variable
Insurance Funds - Small
Company Growth
Portfolio
Adviser: The Vanguard
Group, Inc. and
ArrowMark Colorado
Holdings LLC
0.29%
6.11%
3.81%
9.61%
A-1
Type/Investment
Objective
Underlying Fund and
Adviser/Subadviser
Current
Expenses1
Average Annual Total Returns as of
12/31/25
1 year
5 year
10 year
Life of
Fund
Equity Fund
Seeks to provide
investment results that
correspond to the total
return of stocks of mid-
to small-capitalization
U.S. companies
Fidelity VIP Extended
Market Index Portfolio
(Initial Class)
Adviser: Fidelity
Management & Research
Company LLC (FMR)
Subadvisers: FMR
Investment Management
(UK) Limited, Fidelity
Management & Research
(Hong Kong) Limited, and
Fidelity Management &
Research Japan Limited
serve as sub-advisers.
0.12%
12.32%
8.02%
8.82%2
Equity Fund
Seeks capital
appreciation
Fidelity VIP Value
Strategies Portfolio (Initial
Class)
Adviser: Fidelity
Management & Research
Company LLC (FMR)
Subadvisers: FMR
Investment Management
(UK) Limited, Fidelity
Management & Research
(Hong Kong) Limited, and
Fidelity Management &
Research Japan Limited
serve as sub-advisers.
0.59%
7.99%
12.14%
10.82%
Equity Fund
Seeks to track the
performance of a
benchmark index that
measures the
investment return of
mid-capitalization
stocks
Vanguard Variable
Insurance Funds -
Mid-Cap Index Portfolio
Adviser: The Vanguard
Group, Inc.
0.17%
11.54%
8.46%
10.77%
Equity Fund
Seeks to track the
performance of a
benchmark index that
measures the
investment return of
stocks issued by
companies located in
developed and
emerging markets,
excluding the
United States
Vanguard Variable
Insurance Funds - Total
International Stock
Market Index Portfolio
Adviser: The Vanguard
Group, Inc.
0.09%
32.04%
7.88%
7.20%3
A-2
Type/Investment
Objective
Underlying Fund and
Adviser/Subadviser
Current
Expenses1
Average Annual Total Returns as of
12/31/25
1 year
5 year
10 year
Life of
Fund
Equity Fund
Seeks capital growth
LVIP American Century
Capital Appreciation
Fund
Adviser: Lincoln Financial
Investments Corporation
SubAdviser: American
Century Investment
Management, Inc.
0.57%
6.95%
5.49%
12.13%4
Equity Fund
Seeks long-term capital
appreciation
American
Funds Insurance Series
New World Fund
Adviser: Capital
Research and
Management Company
0.57%
28.60%
5.59%
9.53%
Equity Fund
Seeks to provide
long-term growth of
capital
DWS Capital Growth VIP
Adviser: DWS Investment
Management Americas,
Inc.
0.49%
12.53%
10.92%
15.29%
Equity Fund
Seeks reasonable
income and will also
consider potential for
capital appreciation.
Fund's goal is to
achieve a yield which
exceeds the composite
yield on the securities
comprising the S&P
500® Index
Fidelity VIP
Equity-Income Portfolio
Adviser: Fidelity
Management & Research
Company LLC (FMR)
Subadvisers: FMR
Investment Management
(UK) Limited, Fidelity
Management & Research
(Hong Kong) Limited, and
Fidelity Management &
Research Japan Limited
serve as sub-advisers.
0.46%
19.02%
12.51%
11.60%
Equity Fund
Seeks long-term capital
appreciation
Fidelity VIP Contrafund®
Portfolio
Adviser: Fidelity
Management & Research
Company LLC (FMR)
Subadvisers: FMR
Investment Management
(UK) Limited, Fidelity
Management & Research
(Hong Kong) Limited, and
Fidelity Management &
Research Japan Limited
serve as sub-advisers.
0.54%
21.52%
15.37%
15.78%
A-3
Type/Investment
Objective
Underlying Fund and
Adviser/Subadviser
Current
Expenses1
Average Annual Total Returns as of
12/31/25
1 year
5 year
10 year
Life of
Fund
Equity Fund
Seeks long-term
growth of capital
Fidelity VIP Mid Cap
Portfolio
Adviser: Fidelity
Management & Research
Company LLC (FMR)
Subadvisers: FMR
Investment Management
(UK) Limited, Fidelity
Management & Research
(Hong Kong) Limited, and
Fidelity Management &
Research Japan Limited
serve as sub-advisers.
0.55%
11.75%
10.10%
10.59%
Equity Fund
Seeks capital
appreciation
Invesco V.I. Main Street
Fund®
Adviser: Invesco
Advisers, Inc.
0.80%
15.93%
12.47%
12.53%
Equity Fund
Seeks capital
appreciation
MFS® VIT III Mid Cap
Value Portfolio
Adviser: MFS
0.79%
5.98%
10.18%
9.95%
Equity Fund
Seeks to provide
long-term capital
growth with income as
secondary objective
T. Rowe Price Blue Chip
Growth Portfolio
Adviser: T. Rowe Price
Associates, Inc.
0.75%
18.74%
11.68%
15.54%
Equity Fund
Seeks to provide
long-term capital
appreciation and
income
Vanguard Variable
Insurance Fund
Diversified Value
Portfolio®
Advisers: Lazard Asset
Management LLC and
Hotchkis and Wiley
Capital Management,
LLC
0.28%
16.83%
13.24%
11.76%
Equity Fund
Seeks to provide
long-term capital
appreciation
Vanguard Variable
Insurance
Fund International
Portfolio®
Advisers: Baillie Gifford
Overseas Ltd. And
Schroder Investment
Management North
America Inc.
0.32%
19.97%
0.62%
10.48%
A-4
Type/Investment
Objective
Underlying Fund and
Adviser/Subadviser
Current
Expenses1
Average Annual Total Returns as of
12/31/25
1 year
5 year
10 year
Life of
Fund
Real Estate Fund
Seeks to provide a high
level of income and
moderate long-term
capital appreciation by
tracking performance
of a benchmark index
that measures
performance of publicly
traded equity REITs
and other real
estate-related
investments
Vanguard Variable
Insurance Fund Real
Estate Index Portfolio®
Adviser: The Vanguard
Group, Inc.
0.26%
3.11%
4.51%
5.08%
Fixed Income Fund
Seeks to maximize
current income to the
extent consistent with
the preservation of
capital and the
maintenance of
liquidity by investing
exclusively in high
quality money market
instruments
Goldman Sachs VIT
Government Money
Market Fund
(Institutional)
Adviser: Goldman Sachs
Asset Management, L.P.
0.43%
4.20%
3.18%
2.11%
1.73%5
Fixed Income Fund
Seeks to provide
current income while
maintaining limited
price volatility
Vanguard Variable
Insurance Funds -
Short-Term
Investment-Grade
Portfolio
Adviser: The Vanguard
Group, Inc.
0.14%
6.85%
2.23%
2.81%
Fixed Income Fund
Seeks to provide as
high a level of current
income as is consistent
with the preservation of
capital
American
Funds Insurance Series -
The Bond Fund of
America (Class 1)
Adviser: Capital
Research and
Management Company
0.22%
7.40%
0.10%
2.61%
A-5
Type/Investment
Objective
Underlying Fund and
Adviser/Subadviser
Current
Expenses1
Average Annual Total Returns as of
12/31/25
1 year
5 year
10 year
Life of
Fund
Fixed Income
Seeks to achieve its
investment objective by
investing under normal
circumstances at least
80% of its net assets in
inflation-indexed bonds
of varying maturities
issued by the U.S. and
non-U.S. governments,
their agencies or
instrumentalities and
corporations, which
may be represented by
forwards or derivatives
such as options,
futures contracts or
swap agreements
PIMCO Variable
Insurance Trust Real
Return Portfolio
(Institutional Class)
Adviser: Pacific
Investment Management
Company LLC
1.24%
8.01%
1.36%
3.37%
Fixed Income Fund
Seeks to track the
performance of a
broad, market-weighted
bond index
Vanguard Variable
Insurance Fund Total
Bond Market Index
Portfolio®
Adviser: The Vanguard
Group, Inc.
0.14%
6.94%
-0.51%
1.90%
Balanced Fund
Seeks to obtain high
total return with
reduced risk over the
long term by allocating
Fund assets among
stocks, bonds, and
short-term instruments
Fidelity VIP Asset
Manager Portfolio
Adviser: Fidelity
Management & Research
Company LLC (FMR)
Subadvisers: FMR
Investment Management
(UK) Limited, Fidelity
Management & Research
(Hong Kong) Limited, and
Fidelity Management &
Research Japan Limited
serve as sub-advisers.
0.51%
14.98%
5.67%
7.13%
Balanced Fund
Seeks to achieve
competitive total return
through actively
managed portfolio of
stocks, bonds, and
money market
instruments which offer
income and capital
growth opportunity
Calvert VP SRI Balanced
Portfolio
Adviser: Calvert
Research and
Management
0.64%
11.48%
8.68%
9.81%
A-6
Type/Investment
Objective
Underlying Fund and
Adviser/Subadviser
Current
Expenses1
Average Annual Total Returns as of
12/31/25
1 year
5 year
10 year
Life of
Fund
Balanced Fund
Seeks to provide
current income and low
to moderate capital
appreciation
Vanguard Variable
Insurance Funds -
Conservative Allocation
Portfolio
Adviser: The Vanguard
Group, Inc.
0.12%
12.73%
4.22%
6.14%
Balanced Fund
Seeks to provide
long-term capital
appreciation and
reasonable current
income
Vanguard Variable
Insurance Funds -
Balanced Portfolio
Adviser: Wellington
Management Company
LLC
0.20%
16.46%
9.29%
10.03%
Balanced Fund
Investment objectives
are to achieve
long-term growth of
capital and income
while seeking to
manage volatility and
provide downside
protection
American
Funds Insurance Series -
Managed Risk
Growth-Income Fund
(Class P1)
Adviser: Capital
Research and
Management Company
0.63%
11.45%
7.97%
9.26%
*
"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.
1
The reported expense ratio for the following funds is net of fee waivers that may not continue: all American Funds Insurance Series Funds, Calvert VP SRI Balanced Portfolio, Fidelity VIP Asset Manager Portfolio, Goldman Sachs VIT Fund, 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.
2
Since inception date April 17, 2018.
3
Since inception date September 17, 2017.
4
Since inception date September 22,2017.
5
Since inception date January 24, 2020.
A-7
Mutual Of America Separate Account No 3 published this content on April 27, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on April 27, 2026 at 17:41 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]