<PAGE> PAGE 1
000 B000000 12/31/97
000 C000000 0000934699
000 D000000 Y
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 MUTUAL OF AMERICA INSTITUTIONAL FUNDS INC.
001 B000000 811-08922
001 C000000 2122241600
002 A000000 320 PARK AVE
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10022
003 000000 N
004 000000 N
005 000000 N
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007 C020300 MONEY MARKET FUND
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007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
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007 C011000 10
008 A00AA01 MUTUAL OF AMERICA CAPITAL CORP
008 B00AA01 A
008 C00AA01 801-43897
008 D01AA01 NEW YORK
008 D02AA01 NY
008 D03AA01 10103
010 A00AA01 MUTUAL OF AMERICA LIFE INSURANCE COMPANY
010 C01AA01 NEW YORK
010 C02AA01 NY
010 C03AA01 10103
011 A00AA01 MUTUAL OF AMERICA LIFE INSURANCE COMPANY
011 B00AA01 8-32139
011 C01AA01 NEW YORK
<PAGE> PAGE 2
011 C02AA01 NY
011 C03AA01 10103
013 A00AA01 ARTHUR ANDERSEN LLP
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10105
014 A00AA01 MUTUAL OF AMERICA LIFE INSURANCE COMPANY
014 B00AA01 8-15356
014 A00AA02 MUTUAL OF AMERICA SECURITIES CORP.
014 B00AA02 8-43278
015 A00AA01 THE CHASE MANHATTAN BANK, N.A.
015 B00AA01 C
015 C01AA01 NEW YORK
015 C02AA01 NY
015 C03AA01 10041
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020 C000002 5
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020 A000004 SMITH BARNEY SHEARSON
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020 C000004 3
020 A000005 CANTOR FITZGERALD & CO., INC.
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020 A000006 MUTUAL OF AMERICA
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020 C000006 2
020 A000007 BROADCOURT CAPITAL CORP.
020 B000007 13.-314445
020 C000007 2
020 A000008 ROBINSON HUMPHREY
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020 C000008 2
020 A000009 WILLIAM BLAIR & CO.
020 B000009 13-2797175
020 C000009 2
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<PAGE> PAGE 3
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022 C000001 14301
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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SIGNATURE BRIAN KEOGH
TITLE MANAGER
Board of Directors
Mutual of America Institutional Funds, Inc.:
In planning and performing our audit of the financial statements of
Mutual of America Institutional Funds, Inc. for the year ended
December 31, 1997, we considered its internal control, including control
activities for safeguarding securities, in order to determine our
auditing procedures for the purpose of expressing our opinion on the
financial statements and to comply with the requirements of Form N-SAR,
not to provide assurance on internal control.
The management of Mutual of America Institutional Funds, Inc. is
responsible for establishing and maintaining internal control.
In fulfilling this responsibility, estimates and judgments by
management are required to assess the expected benefits and related
costs of controls. Generally, controls that are relevant to an audit
pertain to the entity's objective of preparing financial statements
for external purposes that are fairly presented in conformity with
generally accepted accounting principles. Those controls include the
safeguarding of assets against unauthorized acquisition, use or
disposition.
Because of inherent limitations in internal control, error or fraud
may occur and not be detected. Also, projection of any evaluation of
internal control to future periods is subject to the risk that it may
become inadequate because of changes in conditions or that the
effectiveness of the design and operation may deteriorate.
Our consideration of internal control would not necessarily disclose
all matters in internal control that might be material weaknesses
under standards established by the American Institute of Certified
Public Accountants. A material weakness is a condition in which the
design or operation of one or more of the internal control components
does not reduce to a relatively low level the risk that misstatements
caused by error or fraud in amounts that would be material in relation
to the financial statements being audited may occur and not be detected
within a timely period by employees in the normal course of performing
their assigned functions. However, we noted no matters involving
internal control and its operation, including controls for
safeguarding securities, that we consider to be material weaknesses
as defined above as of December 31, 1997.
This report is intended solely for the information and use of
management, the Board of Directors of Mutual of America Institutional
Funds, Inc., and the Securities and Exchange Commission.
[SIGNATURE ON FILE WITH ORIGINAL]
New York, New York
February 20, 1998
