Supplement, dated July 7, 2026

to Annual Notice to Policyowners

dated May 1, 2026

Mutual of America Separate Account No. 3

Variable Universal Life Insurance Policy

The following supplemental information should be read in conjunction with the Annual Notice to Policyowners dated May 1, 2026 for the Variable Universal Life Insurance Policy (“VUL Policies”) issued by Mutual of America Life Insurance Company through Mutual of America Separate Account No. 3.

The table below replaces Appendix: Underlying Funds Available as Investment Options Under the VUL Policies of your Annual Notice to Policyowners:

 

 
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 mutualofamerica@dfinsolutions.com.

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%      

 

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 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 T. Rowe Price Associates, Inc.

   0.32%     6.11%     3.81%     9.61%      
             

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

  

Vanguard Variable Insurance Funds –

 

Mid-Cap Index Portfolio

   0.17%     11.54%     8.46%     10.77%      

 

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

investment return of mid-capitalization stocks

  

Adviser: The Vanguard Group, Inc.

                        
             

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 
             

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%      

 

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 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%      
             

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®

   0.28%     16.83%     13.24%     11.76%      

 

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

   

 

Advisers: Lazard Asset Management LLC and Hotchkis and Wiley Capital Management, LLC

                        
             

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%      
             

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

  

American

Funds Insurance Series – The Bond Fund of America (Class 1)

 

   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

consistent with the preservation of capital

  

Adviser: Capital Research and Management Company

                        
             

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

 

  

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

instruments which offer income and capital growth opportunity

                            
             

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

 

This Supplement Should Be Retained With Your Notice to Policyowners For Future Reference.