MUTUAL OF AMERICA INVESTMENT CORPORATION
Mutual of America Investment Corporation hereby amends its Prospectus, dated May
1, 1998, by substituting the following Portfolio Manager descriptions for the
Composite Fund and Aggressive Equity Fund in place of the descriptions on page
15 of the Prospectus:
Composite Fund. Thomas P. Larsen, Executive Vice President of the
Adviser, oversees the day-to-day operations of the Fund. Mr.
Larsen, who joined the Adviser in June 1998 and whose most recent
position was as Senior Vice President of Desai Capital Management,
has over 27 years of investment experience. Jonathan Lee, Vice
President of the Adviser, is responsible for managing the equity
portion of the Fund. Mr. Lee joined the Adviser as Vice President
in February 1997, and prior thereto was Assistant Vice President at
BEA Associates, where he was an analyst and portfolio manager. He
has eight years of investment experience. Andrew L. Heiskell,
Executive Vice President of the Adviser, is responsible for
managing the fixed income portion of the Fund. Mr. Heiskell, who
was Senior Vice President of Mutual of America from February 1991
until January 1, 1994 and previous thereto was employed by M.D.
Sass, Inc., has over 25 years of investment experience.
Aggressive Equity Fund. Thomas P. Larsen, Executive Vice President
of the Adviser, has responsibility for managing the Fund. Mr.
Larsen, who has more than 27 years of investment experience, joined
the Adviser in June 1998 and prior thereto was Senior Vice
President of Desai Capital Management.
Supplement, dated July 1, 1998, to
Prospectus, dated May 1, 1998
