-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, QxBhbrJ41jFYa0vovuqFQbnP95kbNCCk5TfPM/xdDXgujALC7yffGn/8FktswykJ 0QjksO5DQYTRoNsSQHSDHg== 0000771726-98-000110.txt : 19980610 0000771726-98-000110.hdr.sgml : 19980610 ACCESSION NUMBER: 0000771726-98-000110 CONFORMED SUBMISSION TYPE: 485APOS PUBLIC DOCUMENT COUNT: 8 FILED AS OF DATE: 19980609 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: SEPARATE ACCOUNT A OF EQUITABLE LIFE ASSU SOC OF THE US CENTRAL INDEX KEY: 0000089024 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 135570651 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 485APOS SEC ACT: SEC FILE NUMBER: 002-30070 FILM NUMBER: 98644952 BUSINESS ADDRESS: STREET 1: 1290 AVE OF THE AMERICAS CITY: NEW YORK STATE: NY ZIP: 10104 BUSINESS PHONE: 2126416277 MAIL ADDRESS: STREET 1: 1290 AVE OF THE AMERICAS CITY: NEW YORK STATE: NY ZIP: 10104 FORMER COMPANY: FORMER CONFORMED NAME: SEPARATE ACCOUNT A OF THE EQUITABLE LIFE ASSU SOC OF THE US DATE OF NAME CHANGE: 19920703 485APOS 1 EQUI-VEST POST EFFECTIVE AMENDMENT Registration No. 2-30070 Registration No. 811-1705 - ------------------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ----------------------------------- FORM N-4 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 | | Pre-Effective Amendment No. | | ---- |X| Post-Effective Amendment No. 61 ---- AND/OR REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 | | |X| Amendment No. 63 ---- (Check appropriate box or boxes) -------------------------------- SEPARATE ACCOUNT A of THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES (Exact Name of Registrant) -------------------------- THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES (Name of Depositor) 1290 Avenue of the Americas, New York, New York 10104 (Address of Depositor's Principal Executive Offices) Depositor's Telephone Number, including Area Code: (212) 554-1234 ---------------------------- MARY P. BREEN VICE PRESIDENT AND ASSOCIATE GENERAL COUNSEL The Equitable Life Assurance Society of the United States 1290 Avenue of the Americas, New York, New York 10104 (Names and Addresses of Agents for Service) -------------------------------- Please send copies of all communications to: PETER E. PANARITES, ESQ. Freedman, Levy, Kroll & Simonds 1050 Connecticut Avenue, N.W., Suite 825 Washington, D.C. 20036 --------------------------------- Approximate Date of Proposed Public Offering: Continuous It is proposed that this filing will become effective (check appropriate box): | | Immediately upon filing pursuant to paragraph (b) of Rule 485. | | On May 1, 1998 pursuant to paragraph (b) of Rule 485. |X| 60 days after filing pursuant to paragraph (a)(1) of Rule 485. | | On (date) pursuant to paragraph (a)(1) of Rule 485. | | 75 days after filing pursuant to paragraph (a)(2) of Rule 485. | | On (date) pursuant to paragraph (a)(3) of Rule 485. If appropriate, check the following box: | | This post-effective amendment designates a new effective date for previously filed post-effective amendment. --------------------------------- Title of Securities Being Registered: Units of interest in Separate Account under variable annuity contracts. NOTE This Post Effective Amendment No. 61 ("PEA") to the Form N-4 Registration Statement No. 2-30070 ("Registration Statement") of The Equitable Life Assurance Society of the United States and its Separate Account A is being filed solely for the purpose of including in the Registration Statement new ROTH Advantage IRA and TSA Advantage Supplements ("Supplements") and related exhibits, including certain standard Roth IRA exhibits. The Supplements relate to the prospectus dated May 1, 1998 previously filed in the Registration Statement. The PEA does not amend or delete any other part of the Registration Statement except as specifically noted herein. THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SUPPLEMENT DATED JULY ___, 1998 TO EQUI-VEST(R) PROSPECTUS DATED MAY 1, 1998 ROTH ADVANTAGE(SM) This supplement modifies certain information contained in the prospectus dated May 1, 1998 ("Prospectus") as it relates to EQUI-VEST Roth Advantage Contracts offered by The Equitable Life Assurance Society of the United States. Capitalized terms have the same meaning as in the Prospectus. EQUI-VEST ROTH ADVANTAGE CONTRACT (ROTH ADVANTAGE) EQUI-VEST Roth Advantage is designed to qualify as a Roth individual retirement annuity under Sections 408A and 408(b) of the Code. Your interest in the Roth Advantage cannot be forfeited. You or your beneficiaries who survive you are the only ones who can receive the benefits or payments. EQUI-VEST Roth Advantage is offered on the same basis and under the same terms and conditions described in the Prospectus as applicable to the EQUI-VEST Roth IRA, except that for EQUI-VEST Roth Advantage the daily charge applied to the investment funds and the circumstances under which the Contingent Withdrawal Charge is waived or modified are as follows: THE FOLLOWING TABLE AND EXAMPLES ARE ADDED AFTER "EQUI-VEST: SERIES 300 AND 400 - - ACCUMULATION UNIT VALUES" ON PAGE 23 OF THE PROSPECTUS. TABLE 5: EQUI-VEST ROTH ADVANTAGE Description of Expenses CONTRACT OWNER TRANSACTION EXPENSES SALES LOAD ON PURCHASES ................................................................ NONE MAXIMUM CONTINGENT WITHDRAWAL CHARGE (1) ............................................... 6% MAXIMUM/CURRENT ANNUAL ADMINISTRATIVE CHARGE (2) ....................................... $65/30 MAXIMUM/CURRENT THIRD PARTY TRANSFER OR EXCHANGE FEE (3) ............................... $65/25 PER OCCURRENCE SEPARATE ACCOUNT ANNUAL EXPENSES Mortality and Expense Risk Fees (including Death Benefit Charges)....................... 1.20% Other Expenses ......................................................................... .25% ======== Total Separate Account Annual Expenses (4)............................................ 1.45% ========
- ------------------------------------------------------------------------------------------------------------------------------- ALLIANCE ALLIANCE INTERMEDIATE ALLIANCE ALLIANCE ALLIANCE ALLIANCE MONEY GOVERNMENT QUALITY ALLIANCE GROWTH EQUITY COMMON MARKET SECURITIES BOND HIGH YIELD & INCOME INDEX STOCK -------------------------------------------------------------------------------------- HRT ANNUAL EXPENSES Investment Advisory Fees .35% .50% .53% .60% .55% .32% .37% Other Expenses .04% .06% .05% .04% .04% .04% .03% - ------------------------------------------------------------------------------------------------------------------------------- Total HRT Annual Expenses (5)(6) .39% .56% .58% .64% .59% .36% .40% - -------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------- ALLIANCE ALLIANCE ALLIANCE ALLIANCE ALLIANCE ALLIANCE AGGRESSIVE SMALL CAP CONSERVATIVE ALLIANCE GROWTH GLOBAL INTERNATIONAL STOCK GROWTH INVESTORS BALANCED INVESTORS -------------------------------------------------------------------------------------- HRT ANNUAL EXPENSES Investment Advisory Fees .65% .90% .54% .90% .48% .42% .52% Other Expenses .08% .18% .03% .05% .07% .05% .05% - ------------------------------------------------------------------------------------------------------------------------------- Total HRT Annual Expenses (5)(6) .73% 1.08% .57% .95% .55% .47% .57% - ------------------------------------------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------------------------------------------- EQ/PUTNAM GROWTH T. ROWE PRICE T. ROWE PRICE & EQ/ PUTNAM INTERNATIONAL EQUITY INCOME INCOME VALUE BALANCED MFS RESEARCH STOCK PORTFOLIO PORTFOLIO PORTFOLIO PORTFOLIO PORTFOLIO -------------------------------------------------------------------------------------- EQAT Annual Expenses Investment Management and Advisory Fee .75% .55% .55% .55% .55% Rule 12b-1 Fee(7) .25% .25% .25% .25% .25% Other Expenses .20% .05% .05% .10% .05% - ------------------------------------------------------------------------------------------------------------------------------- Total EQAT Annual Expenses (8) 1.20% .85% .85% .90% .85% - ------------------------------------------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------------------------------------------- MORGAN STANLEY MFS EMERGING EMERGING WARBURG PINCUS MERRILL LYNCH MERRILL LYNCH GROWTH COM- MARKETS EQUITY SMALL COMPANY WORLD STRATEGY BASIC VALUE PANIES PORTFOLIO PORTFOLIO VALUE PORTFOLIO PORTFOLIO EQUITY PORTFOLIO -------------------------------------------------------------------------------------- EQAT Annual Expenses Investment Management and Advisory Fee .55% 1.15% .65% .70% .55% Rule 12b-1 Fee(7) .25% .25% .25% .25% .25% Other Expenses .05% .35% .10% .25% .05% - ------------------------------------------------------------------------------------------------------------------------------- Total EQAT Annual Expenses (8) .85% 1.75% 1.00% 1.20% .85% - -------------------------------------------------------------------------------------------------------------------------------
- ------------------- Notes: (1) The contingent withdrawal charge is a percentage of specified contributions. See "Contingent Withdrawal Charge" in Part 7. As discussed in the Prospectus and as set forth below in this Supplement, important exceptions and limitations may eliminate or reduce the contingent withdrawal charge. (2) The Annual Administrative Charge is the lesser of $30 or 2% of the Annuity Account Value (adjusted to include any withdrawals made during that year) during the first two Contract Years; and $30 for each Contract Year thereafter. See "Annual Administrative Charge" in Part 7. We reserve the right to increase this fee in the future if our administrative costs increase, but such fee may not exceed an annual maximum of $65, subject to applicable law. (3) There is a Third Party Transfer or Exchange Fee of $25 per occurrence. We reserve the right to increase this fee in the future, but such fee may not exceed a maximum of $65 per occurrence, subject to applicable law. (4) The total charge for Separate Account annual expenses is subject to change, but may not exceed 2.00%. See "Charges to Investment Funds" in the addition to Part 7 of the Prospectus set forth below in this Supplement. (5) Effective May 1, 1997, a new Investment Advisory Agreement was entered into between HRT and Alliance Capital Management L.P., HRT's Investment Adviser, which effected changes in HRT's management fee and expense structure. See HRT's prospectus for more information. The tables above reflecting HRT's expenses are based on average portfolio net assets for the year ended December 31, 1997 and have been restated to reflect (i) the fees that would have been paid to Alliance if the current advisory agreement had been in effect as of January 1, 1997 and (ii) estimated accounting expenses for the year ending December 31, 1997. (6) The investment advisory fee for each Portfolio may vary from year to year depending upon the average daily net assets of the respective Portfolio of the HRT. The maximum investment advisory fee, however, cannot be increased without a vote of that Portfolio's shareholders. The other direct operating expenses will also fluctuate from year to year depending on actual expenses. HRT's expenses are shown as a percentage of each Portfolio's average portfolio net assets. See "Charges to Portfolios" in Part 7. (7) The Class IB shares of EQAT are subject to fees imposed under distribution plans (herein, the "Rule 12b-1 Plans" ) adopted by EQAT pursuant to Rule 12b-1 under the Investment Company Act of 1940, as amended. The Rule 12b-1 Plans provide that EQAT, on behalf of each Portfolio, may charge annually up to 0.25% of the average daily net assets of a Portfolio attributable to its Class IB shares in respect of activities primarily intended to result in the sale of the Class IB shares. The 12b-1 fee will not be increased for the life of the Contracts. 2 (8) All EQAT Portfolios commenced operations on May 1, 1997 except the Morgan Stanley Emerging Markets Equity Portfolio, which commenced operations on August 20, 1997. The maximum investment management and advisory fees for each EQAT Portfolio cannot be increased without a vote of that Portfolio's shareholders. The amounts shown as "Other Expenses" will fluctuate from year to year depending on actual expenses; however, EQ Financial Consultants, Inc. ("EQ Financial"), EQAT's manager, has entered into an expense limitation agreement with respect to each Portfolio ("Expense Limitation Agreement"), pursuant to which EQ Financial has agreed to waive or limit its fees and assume other expenses. Under the Expense Limitation Agreement, total annual operating expenses of each Portfolio (other than interest, taxes, brokerage commissions, capitalized expenditures, extraordinary expenses and 12b-1 fees) are limited for the respective average daily net assets of each Portfolio as follows: 0.60% for Merrill Lynch Basic Value Equity, MFS Research, MFS Emerging Growth Companies, EQ/Putnam Growth & Income Value and T. Rowe Price Equity Income; 0.65% for EQ/Putnam Balanced; 0.75% for Warburg Pincus Small Company Value; 0.95% for Merrill Lynch World Strategy and T. Rowe Price International Stock; and 1.50% for Morgan Stanley Emerging Markets Equity. Absent the expense limitation, "Other Expenses" for 1997 on an annualized basis for each of the Portfolios would have been as follows: 0.80% for Warburg Pincus Small Company Value; 0.94% for T. Rowe Price Equity Income; 0.95% for EQ/Putnam Growth & Income Value; 0.98% for MFS Research; 1.02% for MFS Emerging Growth Companies; 1.09% for Merrill Lynch Basic Value Equity; 1.21% for Morgan Stanley Emerging Markets Equity; 1.56% for T. Rowe Price International Stock; 1.75% for EQ/Putnam Balanced; and 2.10% for Merrill Lynch World Strategy. Each Portfolio may at a later date make a reimbursement to EQ Financial for any of the management fees waived or limited and other expenses assumed and paid by EQ Financial pursuant to the Expense Limitation Agreement provided, that among other things, such Portfolio has reached sufficient size to permit such reimbursement to be made and provided that the Portfolio's current annual operating expenses do not exceed the operating expense limit determined for such Portfolio. See the EQAT prospectus for more information. EXAMPLES: EQUI-VEST ROTH ADVANTAGE For the Roth Advantage Contract, the examples which follow show the expenses that a hypothetical Contract Owner would pay in the surrender and nonsurrender situations noted below, assuming a single contribution of $1,000 on the Contract Date invested in one of the Investment Funds listed, a 5% annual return on assets and no waiver of the contingent withdrawal charge. For purposes of these examples, the annual administrative charge is computed by reference to the actual aggregate annual administrative charges as a percentage of the total assets held under all EQUI-VEST Contracts. These examples should not be considered a representation of past or future expenses for each Investment Fund or Portfolio. Actual expenses may be greater or less than those shown. Similarly, the annual rate of return assumed in the examples is not an estimate or guarantee of future investment performance. IF YOU SURRENDER YOUR CONTRACT AT THE END OF EACH PERIOD SHOWN, THE EXPENSE WOULD BE: - -------------------------------------------------------------------------------- INVESTMENT FUND 1 YEAR 3 YEARS --------------- ------------------------------- Alliance Money Market $75.63 $120.87 Alliance Intermediate Government Securities 77.32 125.96 Alliance Quality Bond 77.52 126.55 Alliance High Yield 78.12 128.34 Alliance Growth & Income 77.62 126.85 Alliance Equity Index 75.34 119.97 Alliance Common Stock 75.73 121.17 Alliance Global 79.01 131.03 Alliance International 82.48 141.41 Alliance Small Cap Growth 81.19 137.56 Alliance Aggressive Stock 77.42 126.25 Alliance Conservative Investors 77.22 125.66 Alliance Balanced 76.43 123.26 Alliance Growth Investors 77.42 126.25 T. Rowe Price International Stock Portfolio 83.67 144.95 T. Rowe Price Equity Income Portfolio 80.20 134.59 EQ/Putnam Growth & Income Value Portfolio 80.20 134.59 EQ/Putnam Balanced Portfolio 80.70 136.08 MFS Research Portfolio 80.20 134.59 MFS Emerging Growth Companies Portfolio 80.20 134.59 Morgan Stanley Emerging Markets Equity Portfolio 89.13 161.07 Warburg Pincus Small Company Value Portfolio 81.69 139.04 Merrill Lynch World Strategy Portfolio 83.67 144.95 Merrill Lynch Basic Value Equity Portfolio 80.20 134.59 - -------------------------------------------------------------------------------- 3 IF YOU DO NOT SURRENDER YOUR CONTRACT AT THE END OF EACH PERIOD SHOWN, THE EXPENSE WOULD BE: - -------------------------------------------------------------------------------- INVESTMENT FUND 1 YEAR 3 YEARS --------------- ------------------------------- Alliance Money Market $20.01 $ 61.86 Alliance Intermediate Government Securities 21.80 67.26 Alliance Quality Bond 22.01 67.89 Alliance High Yield 22.64 69.79 Alliance Growth & Income 22.11 68.21 Alliance Equity Index 19.70 60.91 Alliance Common Stock 20.12 62.18 Alliance Global 23.58 72.63 Alliance International 27.25 83.64 Alliance Small Cap Growth 25.89 79.56 Alliance Aggressive Stock 21.90 67.57 Alliance Conservative Investors 21.69 66.94 Alliance Balanced 20.85 64.40 Alliance Growth Investors 21.90 67.57 T. Rowe Price International Stock Portfolio 28.51 87.39 T. Rowe Price Equity Income Portfolio 24.84 76.41 EQ/Putnam Growth & Income Value Portfolio 24.84 76.41 EQ/Putnam Balanced Portfolio 25.37 77.99 MFS Research Portfolio 24.84 76.41 MFS Emerging Growth Companies Portfolio 24.84 76.41 Morgan Stanley Emerging Markets Equity Portfolio 34.29 104.48 Warburg Pincus Small Company Value Portfolio 26.42 81.13 Merrill Lynch World Strategy Portfolio 28.51 87.39 Merrill Lynch Basic Value Equity Portfolio 24.84 76.41 - ------------------- The amount accumulated could not be paid in the form of an annuity at the end of any of the periods shown in the examples. If the amount applied to purchase an annuity is less than $2,000, or the initial annuity payment is less than $20, we may pay the amount to the payee in a single sum instead of as payments under an annuity form. See "Distribution Options" in Part 6. In some cases, charges for state premium or other taxes will be deducted from the amount applied, if applicable. INVESTMENT FUND PERFORMANCE - ROTH ADVANTAGE In order to help show how the performance of Investment Funds affects Annuity Account Values, the following tables provide a historical view of investment performance for each of the Funds included. The performance shown has been calculated under two methods, as explained under "How Performance Data Are Presented" below. The information presented includes performance results along with data representing unmanaged market indices and similarly managed funds. Except as noted below, performance data for the Investment Funds reflect (i) the actual historical investment results of the corresponding Portfolios of HRT or EQAT from the date of inception of those Portfolios or certain predecessor Portfolios or accounts, and (ii) the actual investment advisory fee, Rule 12b-1 fee, if any, and direct operating expenses of the relevant Portfolios. In addition, for all periods, the performance data reflects the Separate Account asset charges assessed under the Roth Advantage Contract, as if it had been available in the periods shown. Performance for the Alliance Money Market, Alliance Balanced, Alliance Common Stock and Alliance Aggressive Stock Funds for the period before those Funds were operated as a unit investment trust has been adjusted to reflect the investment advisory fee and expense structure that became applicable to the unit investment trust. See "The Reorganization" in the SAI for additional information. Because amounts allocated to the Investment Funds are invested in a mutual fund, investment return and principal will fluctuate and Accumulation Units may be worth more or less than the original cost when redeemed. The results shown are not an estimate or guarantee of future investment performance. HOW PERFORMANCE DATA ARE PRESENTED Tables 1 and 2 compare annualized and cumulative rates of return for each Investment Fund along with appropriate benchmarks. Table 3 shows the year-by-year rates of return for each Investment Fund. These performance results are based on the change in the Accumulation Unit value for each Investment Fund for the periods shown. Investment results in Tables 1, 2, and 3 are net of all charges and expenses assessed against the Investment Funds (including fees and expenses of the Trusts) but exclude the annual administrative charge and any withdrawal charges which would also reduce the actual return. Tables 4 and 5 show performance results after giving effect to all charges and expenses including the annual administrative charge and the contingent withdrawal 4 charge. Since charges under the Contracts may vary, we have assumed, for each charge, the highest that might apply. Certain of the Investment Funds began operations on a date after the inception date of the corresponding Portfolio. When we advertise the performance of an Investment Fund we will separately set forth the performance of that Fund since its inception date, to the extent required by regulatory authorities. BENCHMARKS Market indices are not subject to any charges for investment advisory fees typically associated with a managed portfolio. Comparisons with these benchmarks, therefore, are of limited use. We include them because they are widely known and may help you to understand the universe of securities from which each Portfolio manager is likely to make selections. INCEPTION DATES AND COMPARATIVE BENCHMARKS ALLIANCE MONEY MARKET: May 11, 1982; Salomon Brothers Three-Month T-Bill Index (3-Month T-Bill). ALLIANCE INTERMEDIATE GOVERNMENT SECURITIES: April 1, 1991; Lehman Intermediate Government Bond Index (Lehman Intermediate Government). ALLIANCE QUALITY BOND: October 1, 1993; Lehman Aggregate Bond Index (Lehman Aggregate). ALLIANCE HIGH YIELD: January 2, 1987; Merrill Lynch High Yield Master Index (Master High Yield). ALLIANCE GROWTH & INCOME: October 1, 1993; 75% Standard & Poor's 500 Index (S&P 500) and 25% Value Line Convertibles Index (75% S&P 500/25% Value Line Conv.). ALLIANCE EQUITY INDEX: March 1, 1994; Standard & Poor's 500 Index (S&P 500). ALLIANCE COMMON STOCK: August 1, 1968; Standard & Poor's 500 Index (S&P 500). ALLIANCE GLOBAL: August 27, 1987; Morgan Stanley Capital International World Index (MSCI World). ALLIANCE INTERNATIONAL: April 3, 1995; Morgan Stanley Capital International Europe, Australia, Far East Index (MSCI EAFE). ALLIANCE AGGRESSIVE STOCK: May 1, 1984; 50% Russell 2000 Small Stock Index and 50% S&P MidCap Total Return (50% Russell 2000/50% S&P MidCap). ALLIANCE SMALL CAP GROWTH: May 1, 1997; Russell 2000 Growth Index (Russell 2000 Gr). ALLIANCE CONSERVATIVE INVESTORS: October 2, 1989; 70% Lehman Treasury Bond Composite Index and 30% S&P 500 Index (70% Lehman Treas./30% S&P 500). ALLIANCE BALANCED: May 1, 1984; 50% S&P 500 and 50% Lehman Government/Corporate Bond Index (50% S&P 500/50% Lehman Corp.). ALLIANCE GROWTH INVESTORS: October 2, 1989; 30% Lehman Government/Corporate Bond Index and 70% S&P 500 Index (30% Lehman Treas./70% S&P 500). T. ROWE PRICE INTERNATIONAL STOCK: May 1, 1997; Morgan Stanley Capital International Europe, Australia, Far East Index (MSCI EAFE). T. ROWE PRICE EQUITY INCOME: May 1, 1997; Standard & Poor's 500 Index (S&P 500). EQ/PUTNAM GROWTH & INCOME VALUE: May 1, 1997; Standard & Poor's 500 Index (S&P 500). EQ/PUTNAM BALANCED: May 1, 1997; 60% Standard & Poor's 500 Index and 40% Lehman Government/Corporate Bond Index (60% S&P500/40% Lehman Corp.) MFS RESEARCH: May 1, 1997; Standard & Poor's 500 Index (S&P 500). MFS EMERGING GROWTH COMPANIES: May 1, 1997; Russell 2000 Index (Russell 2000). MORGAN STANLEY EMERGING MARKETS EQUITY: August 20, 1997; Morgan Stanley Capital International Emerging Markets Free Price Return Index (MSCI Emerging Markets). WARBURG PINCUS SMALL COMPANY VALUE: May 1, 1997; Russell 2000 Index (Russell 2000). MERRILL LYNCH WORLD STRATEGY: May 1, 1997; 36% S&P 500/24% MSCI EAFE/21% Salomon Brothers US Treasury Bond 1 Year+/14% Salomon Brothers World Government Bond Ex US/5% 3-Month U.S. T-bill-(Market Composite). 5 MERRILL LYNCH BASIC VALUE EQUITY: May 1, 1997; Standard & Poor's 500 Index (S&P 500). The Lipper Variable Insurance Products Performance Analysis Survey (Lipper) records the performance of a large group of variable annuity and variable life products, including managed separate accounts of insurance companies. According to Lipper Analytical Services, Inc., the data are presented net of investment management fees, direct operating and asset-based charges applicable under variable insurance policies or variable annuity contracts. Lipper data provide a more accurate picture than market indices of EQUI-VEST performance relative to other annuity products. All rates of return presented are time-weighted and include reinvestment of investment income, including interest and dividends. Cumulative rates of return reflect performance over a stated period of time. Annualized rates of return represent the annual rate of growth that would have produced the same cumulative return, if performance had been constant over the entire period. 6 TABLE 1: ANNUALIZED RATES OF RETURN FOR PERIODS ENDED DECEMBER 31, 1997:
- ------------------------------------------------------------------------------------------------------------------------------- PORTFOLIO SINCE INCEPTION 1 YEAR 3 YEARS 5 YEARS 10 YEARS 20 YEARS INCEPTION DATE ----------------------------------------------------------------------------------- FIXED-INCOME SERIES: Domestic Fixed Income ALLIANCE MONEY MARKET 5/11/82 Lipper Money Market 3-Month T-Bill ALLIANCE INTERMEDIATE GOVERNMENT SECURITIES 4/1/91 Lipper U.S. Government Lehman Intermediate Government ALLIANCE QUALITY BOND 10/1/93 Lipper Corporate Bond A-Rated Lehman Aggregate Aggressive Fixed Income ALLIANCE HIGH YIELD 1/2/87 Lipper High Yield Master High Yield EQUITY SERIES: Domestic Equity T. ROWE PRICE EQUITY INCOME 5/1/97 Lipper Equity Income S&P 500 EQ/PUTNAM GROWTH & INCOME VALUE 5/1/97 Lipper Growth & Income S&P 500 ALLIANCE GROWTH & INCOME 10/1/93 Lipper Growth 25% Value Line Conv./75% S&P 500 ALLIANCE EQUITY INDEX 3/1/94 Lipper S&P 500 Index Funds S&P 500 MERRILL LYNCH BASIC VALUE EQUITY 5/1/97 Lipper Growth & Income S&P 500 ALLIANCE COMMON STOCK 8/1/68 Lipper Growth S&P 500 MFS RESEARCH 5/1/97 Lipper Growth S&P 500 International Equity ALLIANCE GLOBAL 8/27/87 Lipper Global MSCI World ALLIANCE INTERNATIONAL 4/3/95 Lipper International MSCI EAFE T. ROWE PRICE INTERNATIONAL STOCK 5/1/97 Lipper International MSCI EAFE MORGAN STANLEY EMERGING MARKETS EQUITY 8/20/97 Lipper Emerging Markets MSCI Emerging Markets - ------------------------------------------------------------------------------------------------------------------------------- + Return for this Fund is unannualized and represents 8 months of performance. This table continues on next page * Return for this Fund is unannualized and represents 5 months of performance.
7 TABLE 1: ANNUALIZED RATES OF RETURN (CONTINUED):
- ------------------------------------------------------------------------------------------------------------------------------- PORTFOLIO SINCE INCEPTION 1 YEAR 3 YEARS 5 YEARS 10 YEARS 20 YEARS INCEPTION DATE ----------------------------------------------------------------------------------- EQUITY SERIES (CONTINUED): Aggressive Equity ALLIANCE AGGRESSIVE STOCK 5/1/84 Lipper Mid-Cap Growth 50% Russell 2000/50% S&P Mid-Cap WARBURG PINCUS SMALL COMPANY VALUE 5/1/97 Lipper Small-Cap Russell 2000 Growth ALLIANCE SMALL CAP GROWTH 5/1/97 Lipper Small-Cap Russell 2000 Growth MFS EMERGING GROWTH 5/1/97 COMPANIES Lipper Mid-Cap Russell 2000 ASSET ALLOCATION SERIES: ALLIANCE CONSERVATIVE INVESTORS 10/2/89 Lipper Income 70% Lehman Treas./30% S&P 500 EQ/PUTNAM BALANCED 5/1/97 Lipper Balanced 40% Lehman Gov't./Corp./60% S&P 500 ALLIANCE BALANCED 5/1/84 Lipper Flexible Portfolio 50% Lehman Gov't./Corp./70% S&P 500 ALLIANCE GROWTH INVESTORS 10/2/89 Lipper Flexible Portfolio 30% Lehman Gov't./Corp./70% S&P 500 MERRILL LYNCH WORLD STRATEGY 5/1/97 Lipper Global Flexible Portfolio -- Market Composite -- - -------------------------------------------------------------------------------------------------------------------------------
+ Return for this Fund is unannualized and represents 8 months of performance. * Return for this Fund is unannualized and represents 5 months of performance. 8 TABLE 2: CUMULATIVE RATES OF RETURN FOR PERIODS ENDED DECEMBER 31, 1997:
- ------------------------------------------------------------------------------------------------------------------------------- PORTFOLIO SINCE INCEPTION 1 YEAR 3 YEARS 5 YEARS 10 YEARS 20 YEARS INCEPTION DATE ----------------------------------------------------------------------------------- FIXED-INCOME SERIES: Domestic Fixed Income ALLIANCE MONEY MARKET 5/11/82 Lipper Money Market 3-Month T-Bill ALLIANCE INTERMEDIATE GOVERNMENT SECURITIES 4/1/91 Lipper U.S. Government Lehman Intermediate Government ALLIANCE QUALITY BOND 10/1/93 Lipper Corporate Bond A-Rated Lehman Aggregate Aggressive Fixed Income ALLIANCE HIGH YIELD 1/2/87 Lipper High Yield Master High Yield EQUITY SERIES: Domestic Equity T. ROWE PRICE EQUITY INCOME 5/1/97 Lipper Equity Income S&P 500 EQ/PUTNAM GROWTH & INCOME VALUE 5/1/97 Lipper Growth & Income S&P 500 ALLIANCE GROWTH & INCOME 10/1/93 Lipper Growth & Income 25% Value Line Conv./75% S&P 500 ALLIANCE EQUITY INDEX 3/1/94 Lipper S&P 500 Index Funds S&P 500 MERRILL LYNCH BASIC VALUE EQUITY 5/1/97 Lipper Growth & Income S&P 500 ALLIANCE COMMON STOCK 8/1/68 Lipper Growth S&P 500 MFS RESEARCH 5/1/97 Lipper Growth S&P 500 International Equity ALLIANCE GLOBAL 8/27/87 Lipper Global MSCI World ALLIANCE INTERNATIONAL 4/3/95 Lipper International MSCI EAFE T. ROWE PRICE INTERNATIONAL STOCK 5/1/97 Lipper International MSCI EAFE MORGAN STANLEY EMERGING MARKETS EQUITY 8/20/97 Lipper Emerging Markets MSCI Emerging Market - -------------------------------------------------------------------------------------------------------------------------------
9 TABLE 2: CUMULATIVE RATES OF RETURN (CONTINUED):
- ------------------------------------------------------------------------------------------------------------------------------- PORTFOLIO SINCE INCEPTION 1 YEAR 3 YEARS 5 YEARS 10 YEARS 20 YEARS INCEPTION DATE ----------------------------------------------------------------------------------- EQUITY SERIES (CONTINUED): Aggressive Equity ALLIANCE AGGRESSIVE STOCK 5/1/84 Lipper Mid-Cap Growth 50% Russell 2000/50% S&P Mid-Cap WARBURG PINCUS SMALL COMPANY VALUE 5/1/97 Lipper Small-Cap Russell 2000 ALLIANCE SMALL CAP GROWTH 5/1/97 Lipper Small-Cap Russell 2000 Growth MFS EMERGING GROWTH COMPANIES 5/1/97 Lipper Mid-Cap Russell 2000 ASSET ALLOCATION SERIES: ALLIANCE CONSERVATIVE INVESTORS 10/2/89 Lipper Income 70% Lehman Treas./30% S&P 500 EQ/PUTNAM BALANCED 5/1/97 Lipper Balanced 40% Lehman Gov't./Corp./60% S&P 500 ALLIANCE BALANCED 5/1/84 Lipper Flexible Portfolio 50% Lehman Gov't./Corp./70% S&P 500 ALLIANCE GROWTH INVESTORS 10/2/89 Lipper Flexible Portfolio 30% Lehman Gov't./Corp./70% S&P 500 MERRILL LYNCH WORLD STRATEGY 5/1/97 Lipper Global Flexible Portfolio Market Composite - -------------------------------------------------------------------------------------------------------------------------------
10 TABLE 3: YEAR-BY-YEAR RATES OF RETURN
- -------------------------------------------------------------------------------------------------------------------------------- 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 -------------------------------------------------------------------------------------------- ALLIANCE MONEY MARKET ALLIANCE INTERMEDIATE GOVERNMENT SECURITIES ALLIANCE QUALITY BOND ALLIANCE HIGH YIELD ALLIANCE GROWTH & INCOME ALLIANCE EQUITY INDEX ALLIANCE COMMON STOCK ALLIANCE GLOBAL ALLIANCE INTERNATIONAL ALLIANCE AGGRESSIVE STOCK ALLIANCE SMALL CAP GROWTH ALLIANCE CONSERVATIVE INVESTORS ALLIANCE BALANCED ALLIANCE GROWTH INVESTORS T. ROWE PRICE INTERNATIONAL STOCK PORTFOLIO T. ROWE PRICE EQUITY INCOME PORTFOLIO EQ/PUTNAM GROWTH & INCOME VALUE PORTFOLIO EQ/PUTNAM BALANCED PORTFOLIO MFS RESEARCH PORTFOLIO MFS EMERGING GROWTH COMPANIES PORTFOLIO MORGAN STANLEY EMERGING MARKETS EQUITY PORTFOLIO WARBURG PINCUS SMALL COMPANY VALUE PORTFOLIO MERRILL LYNCH WORLD STRATEGY PORTFOLIO MERRILL LYNCH BASIC VALUE EQUITY PORTFOLIO - ------------------- * Unannualized - --------------------------------------------------------------------------------------------------------------------------------
11 The performance data in Tables 4 and 5 illustrate the growth of an investment, and the average annual total return of the Investment Funds, respectively, over the periods shown assuming a single initial contribution of $1,000 and termination of the Roth Advantage Contract at the end of each period on December 31, 1997, under circumstances in which the contingent withdrawal charge applies. The values shown are also net of all other charges and expenses assessed against the Investment Funds. An Investment Fund's average annual total return is the annual rate of growth of the Investment Fund that would be necessary to achieve the ending value of a contribution kept in the Investment Fund for the period specified. Each calculation further assumes that the $1,000 contribution was allocated to only one Investment Fund, no transfers or additional contributions were made, no loans, and no amounts were allocated to any other Investment Fund under the Contract. In order to calculate the performance information, we divide the termination value (defined below) of a Contract which is terminated on December 31, 1997 by the $1,000 investment made at the beginning of each period illustrated. The result of that calculation is the total growth rate for the period. Then we annualize that growth rate to obtain the average annual percentage increase (decrease) during the period shown. When we "annualize," we assume that a single rate of return applied each year during the period will produce the ending value, taking into account the effect of compounding. "Termination value" means the Annuity Account Value less the contingent withdrawal charge, the annual administrative charge and all other charges and expenses which are applied against an Investment Fund. See "Part 7: Deductions and Charges" in the Prospectus. 12 TABLE 4: GROWTH OF $1,000 FOR CONTRACTS TERMINATED ON DECEMBER 31, 1997:
- ------------------------------------------------------------------------------------------------------------------------------- LENGTH OF INVESTMENT PERIOD -------------------------------------------------------------------------------------- INVESTMENT ONE THREE FIVE TEN SINCE PORTFOLIO FUND YEAR YEARS YEARS YEARS INCEPTION* - ------------------------------------------------------------------------------------------------------------------------------- Alliance Money Market Alliance Intermediate Government Securities Alliance Quality Bond Alliance High Yield Alliance Growth & Income Alliance Equity Index Alliance Common Stock Alliance Global Alliance International Alliance Aggressive Stock Alliance Small Cap Growth Alliance Conservative Investors Alliance Balanced Alliance Growth Investors T. Rowe Price International Stock Portfolio T. Rowe Price Equity Income Portfolio E/Q Putnam Growth & Income Value Portfolio E/Q Putnam Balanced Portfolio MFS Research Portfolio MFS Emerging Growth Companies Portfolio Morgan Stanley Emerging Markets Equity Portfolio Warburg Pincus Small Company Value Portfolio Merrill Lynch World Strategy Portfolio Merrill Lynch Basic Value Equity Portfolio - -------------------------------------------------------------------------------------------------------------------------------
* Portfolio inception dates are shown in Tables 1 and 2. 13 TABLE 5: AVERAGE ANNUAL TOTAL RETURN UNDER CONTRACTS TERMINATED ON DECEMBER 31, 1997:
- ------------------------------------------------------------------------------------------------------------------------------- LENGTH OF INVESTMENT PERIOD -------------------------------------------------------------------------------------- INVESTMENT SINCE FUND ONE THREE FIVE TEN SINCE FUND PORTFOLIO YEAR YEARS YEARS YEARS INCEPTION* INCEPTION** - ------------------------------------------------------------------------------------------------------------------------------- Alliance Money Market Alliance Intermediate Government Securities Alliance Quality Bond Alliance High Yield Alliance Growth & Income Alliance Equity Index Alliance Common Stock Alliance Global Alliance International Alliance Aggressive Stock Alliance Small Cap Growth Alliance Conservative Investors Alliance Balanced Alliance Growth Investors T. Rowe Price International Stock Portfolio T. Rowe Price Equity Income Portfolio E/Q Putnam Growth & Income Value Portfolio E/Q Putnam Balanced Portfolio MFS Research Portfolio MFS Emerging Growth Companies Portfolio Morgan Stanley Emerging Markets Equity Portfolio Warburg Pincus Small Company Value Portfolio Merrill Lynch World Strategy Portfolio Merrill Lynch Basic Value Equity Portfolio - ------------------- * Fund inception dates are: Alliance Money Market (5/11/82), Alliance Intermediate Government Securities (6/1/94), Alliance Quality Bond (1/4/94), Alliance High Yield (1/4/94), Alliance Growth & Income (1/4/94), Alliance Equity Index (6/1/94), Alliance Common Stock (8/27/81), Alliance Global (1/4/94), Alliance International (9/1/95), Alliance Growth Investors (1/4/94), Alliance Aggressive Stock (5/1/84), Alliance Small Cap Growth (6/2/97), Alliance Conservative Investors (1/4/94), Alliance Balanced (5/1/84), T. Rowe Price International Stock (6/2/97), T. Rowe Price Equity Income (6/2/97), EQ/Putnam Growth & Income Value (6/2/97), EQ/Putnam Balanced (6/2/97), MFS Research (6/2/97), MFS Emerging Growth Companies (6/2/97), Morgan Stanley Emerging Markets Equity (8/20/97), Warburg Pincus Small Company Value (6/2/97), Merrill Lynch World Strategy (6/2/97), Merrill Lynch Basic Value Equity (6/2/97). ** Portfolio inception dates are shown in Tables 1 and 2. - -------------------------------------------------------------------------------------------------------------------------------
14 COMMUNICATING PERFORMANCE DATA In reports or other communications or in advertising material, we may describe general economic and market conditions affecting the Separate Account and HRT or EQAT and may present the performance of the Investment Funds or compare it with (1) that of other insurance company separate accounts or mutual funds included in the rankings prepared by Lipper Analytical Services, Inc., Morningstar Inc., VARDS or similar investment services that monitor the performance of insurance company separate accounts or mutual funds, (2) other appropriate indices of investment securities and averages for peer universes of funds which are described elsewhere in this prospectus, or (3) data developed by us derived from such indices or averages. The Morningstar Variable Annuity/Life Report consists of over 700 variable life and annuity funds, all of which report their data net of investment management fees, direct operating expenses and separate account charges. VARDS is a monthly reporting service that monitors over 2,500 variable life and variable annuity funds on performance and account information. Advertisements or other communications furnished to present or prospective Contract Owners may also include evaluations of an Investment Fund or Portfolio by financial publications that are nationally recognized such as Barron's, Morningstar's Variable Annuity Sourcebook, Business Week, Chicago Tribune, Forbes, Fortune, Institutional Investor, Investment Adviser, Investment Dealer's Digest, Investment Management Weekly, Los Angeles Times, Money, Money Management Letter, Kiplinger's Personal Finance, Financial Planning, National Underwriter, Pension & Investments, USA Today, Investor's Daily, The New York Times and The Wall Street Journal. WITH RESPECT TO EQUI-VEST ROTH ADVANTAGE, THE FOLLOWING DISCUSSION REPLACES THE DISCUSSION UNDER "CHARGES TO INVESTMENT FUNDS" ON PAGE 56 OF THE PROSPECTUS: We make a daily charge at the effective annual rate of 1.45% against the assets held in each of the Investment Funds. This charge is reflected in the Accumulation Unit Values for the particular Investment Fund and covers mortality and expense risk charges of 1.20% and expenses of 0.25%. The mortality and expense risk and death benefit charge is comprised of 0.65% for mortality risk, including guaranteed death benefits, and 0.55% for expense risk, although the allocation of these charges may vary. We assume a mortality risk by (a) our obligation to pay a death benefit that will not be less than the total value of all contributions made (less any applicable taxes) adjusted for total withdrawals, (b) our obligation to make annuity payments for the life of the Annuitant under guaranteed fixed annuity options, regardless of the Annuitant's longevity, (c) our guarantees relating to annuity purchase rates, the actuarial basis for which can be changed only for new contributions and only on the fifth anniversary of the Contract Date and every five years thereafter, and (d) our obligation to waive the contingent withdrawal charge upon the payment of a death benefit. The expense risk we assume is the risk that, over time, our actual expense of administering the Contracts, including financial accounting, may exceed the amounts realized from the expense charge and the annual administrative expense charge. Part of the mortality and expense risk charge may be considered to be an indirect reimbursement for certain sales and promotional expenses relating to the Contracts to the extent that the charge is not needed to meet the actual expenses incurred. The charge for expenses, together with the annual administrative charge described below, is designed to reimburse us for our costs in providing administrative services in connection with the Contracts. Maximum Total Separate Account Charges We may change the annual rate of the daily asset charge imposed on the amounts held in the Investment Funds comprising the Separate Account. We may increase or decrease the 1.45% total Separate Account charge currently applicable, but may not increase the total charge above a maximum annual rate of 2.00%. Any increase would only be made upon advance notice to you and would apply only to contributions made after the date of the change. Changes, if any, would reflect differences in costs and anticipated mortality and expense expenses, and would not be unfairly discriminatory. 15 THE FOLLOWING SENTENCE REPLACES THE FIRST SENTENCE OF THE THIRD PARAGRAPH OF THE DISCUSSION UNDER "CONTINGENT WITHDRAWAL CHARGE" ON PAGE 57 OF THE PROSPECTUS: We reserve the right to change the amount of the contingent withdrawal charge, provided that it will not exceed 8% of the amount deemed attributable to withdrawn contributions. THE FOLLOWING IS ADDED AT THE END OF THE DISCUSSION UNDER "CONTINGENT WITHDRAWAL CHARGE - EXCEPTIONS TO THE CONTINGENT WITHDRAWAL CHARGE" ON PAGE 57 OF THE PROSPECTUS: Additionally, a withdrawal charge will not apply to a Roth Advantage Contract upon any of the following events: o the Annuitant has completed at least five Contract Years and has attained age 59 1/2; o during any Contract Year in which the amount withdrawn is less than or equal to 25% of the Annuity Account Value at the time the withdrawal is requested minus any amount previously withdrawn during that Contract Year, provided that the withdrawal is used to pay specified higher education expenses as defined in the Code and subject to receipt of evidence satisfactory to us that such withdrawal is in fact for such purpose; o the Annuitant has completed at least five Contract Years, and the withdrawal, up to a $10,000 maximum, is a "qualified first-time homebuyer distribution" (as defined in the Code), subject to receipt of evidence satisfactory to us that such withdrawal is in fact for such purpose; or o a request is made for a refund of a contribution in excess of amounts allowed to be contributed under the Code within one month of the date on which the contribution is made. 59002 16 FLKS DRAFT : June 4, 1998 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES SUPPLEMENT DATED JULY ___, 1998 TO EQUI-VEST(R) PROSPECTUS DATED MAY 1, 1998 TSA ADVANTAGE(SM) This Supplement adds to and modifies certain information contained in the prospectus dated May 1, 1998 ("Prospectus") for EQUI-VEST group and individual deferred variable annuity contracts offered by Equitable Life. Equitable Life will offer its EQUI-VEST Series 600 TSA Advantage contracts ("Series 600" or "TSA Advantage Contract") only to employees of educational organizations described in Internal Revenue Code (Code) Section 170(b)(1)(A)(ii) or hospitals which are administered by, and/or are part of a State, a political subdivision of a State, or an agency or instrumentality of any one or more of the foregoing, and non-profit organizations, including churches. The foregoing entities must maintain plans that meet the requirements of Code Section 403(b), referred to as a "403(b) Plan," and must currently have, or within the first Contract Year expect to have, at least 50 participants. The TSA plans may or may not be subject to ERISA. Under the TSA Advantage Contract, contributions, including rollover contributions and direct transfer contributions from existing 403(b) plans (programs or arrangements) will be accepted only if the contributions are fully vested under the existing TSA plan. The TSA Advantage Contract may not currently be available in your state. Your Equitable Life Representative can provide information about state availability. The EQUI-VEST TSA Advantage Contract is offered to purchasers on the same basis and under the same terms and conditions described in the Prospectus as applicable to the EQUI-VEST TSA Series 100 and 200 contracts, except for certain material differences described in this Supplement. Capitalized terms in this Supplement not otherwise defined have the same meaning as in the Prospectus. Material differences between the TSA Advantage Contract and the provisions of the EQUI-VEST TSA Series 100 and 200 contracts described in the EQUI-VEST Prospectus include the following: THE FOLLOWING PARAGRAPH IS ADDED AFTER "EQUI-VEST EMPLOYER-SPONSORED RETIREMENT PROGRAMS - UNIVERSITY TSA" ON PAGE 8 OF THE PROSPECTUS: o TSA ADVANTAGE A TSA for educational organizations, hospitals and other non-profit entities organized under Code Section 501(c)(3) as well as churches. Contributions are made by the employer either directly or through a salary reduction agreement entered into with the employee. Each employee is the Contract Owner and must also be the Annuitant. Available only to employees of employers described above maintaining 403(b) plans that currently have, or within the first Contract Year are expected to have, at least 50 participants. Unless otherwise noted, references to TSA Contracts include TSA Advantage Contracts. THE FOLLOWING TWO SENTENCES REPLACE THE SECOND SENTENCE OF THE FIRST PARAGRAPH UNDER "INVESTMENT OPTIONS" ON PAGE 9 OF THE PROSPECTUS: Each Investment Fund invests in shares of a corresponding Portfolio of either HRT (Class IA or Class IB) or EQAT (Class IB), respectively. The Class IA shares and Class IB shares of HRT are identical, except for the 12b-1 distribution plan and related fees applicable to the Class IB shares. Under the TSA Advantage contracts, the Investment Funds purchase Class IB shares of HRT and EQAT. THE FOLLOWING TABLE AND EXAMPLES ARE ADDED AFTER "TABLE 3: EQUI-VEST: SERIES 300 AND 400 -- ACCUMULATION UNIT VALUES" ON PAGE 23 OF THE PROSPECTUS: TABLE 4: EQUI-VEST SERIES 600 The following Tables apply to the Series 600 TSA Advantage Contracts. These Tables, and the related Examples, will assist you in understanding the various costs and expenses under the Series 600 Contract so that you may compare them with other products. Except as described in [Notes 5 and 7] below, the Tables reflect expenses of the applicable Trust for the year ended December 31, 1997. A charge for applicable state or local taxes may be deducted from contributions in some states. See "Charges for State Premium and Other Applicable Taxes" in Part 7. As explained in Parts 4 and 5, the Guaranteed Interest Account is not a part of the Separate Account and is not covered by the following Tables and Examples. The only expenses shown in the Tables which apply to the Guaranteed Interest Account are the contingent withdrawal charge, the annual administrative charge and, if imposed at a later date, the third party transfer or exchange Fee. Also see "Income Annuity Distribution Options" in Part 6 for the description of an administrative charge which may apply when you annuitize. Description of Expenses - -------------------------- CONTRACT OWNER TRANSACTION EXPENSES SALES LOAD ON PURCHASES .......................................... NONE MAXIMUM CONTINGENT WITHDRAWAL CHARGE (1) ......................... 6% MAXIMUM/CURRENT ANNUAL ADMINISTRATIVE CHARGE (2) ................. $65/30 THIRD PARTY TRANSFER OR EXCHANGE FEE (3) ......................... NONE SEPARATE ACCOUNT ANNUAL EXPENSES(4) Mortality and Expense Risk Fees (including Death Benefit Charges). .95% Other Expenses ................................................... .25% ======== Total Separate Account Annual Expenses ......................... 1.20% ========
- ------------------------------------------------------------------------------------------------------------------------------- ALLIANCE ALLIANCE INTERMEDIATE ALLIANCE ALLIANCE ALLIANCE ALLIANCE MONEY GOVERNMENT QUALITY ALLIANCE GROWTH EQUITY COMMON MARKET SECURITIES BOND HIGH YIELD & INCOME INDEX STOCK -------------------------------------------------------------------------------------- HRT ANNUAL EXPENSES Investment Advisory Fees .35% .50% .53% .60% .55% .32% .37% Rule 12b-1 fee(7) .25% .25% .25% .25% .25% .25% .25% Other Expenses .04% .06% .05% .04% .04% .04% .03% - ------------------------------------------------------------------------------------------------------------------------------- Total HRT Annual Expenses (5)(6) .64% .81% .83% .89% .84% .61% .65% - ------------------------------------------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------------------------------------------- ALLIANCE ALLIANCE ALLIANCE ALLIANCE ALLIANCE ALLIANCE AGGRESSIVE SMALL CAP CONSERVATIVE ALLIANCE GROWTH GLOBAL INTERNATIONAL STOCK GROWTH INVESTORS BALANCED INVESTORS -------------------------------------------------------------------------------------- HRT ANNUAL EXPENSES Investment Advisory Fees .65% .90% .54% .90% .48% .42% .52% Rule 12b-1 fee(7) .25% .25% .25% .25% .25% .25% .25% Other Expenses .08% .18% .03% .05% .07% .05% .05% - ------------------------------------------------------------------------------------------------------------------------------- Total HRT Annual Expenses (5)(6) .98% 1.33% .82% 1.20% .80% .72% .82% - ------------------------------------------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------------------------------------------- EQ/PUTNAM GROWTH T. ROWE PRICE T. ROWE PRICE & EQ/ PUTNAM INTERNATIONAL EQUITY INCOME INCOME VALUE BALANCED MFS RESEARCH STOCK PORTFOLIO PORTFOLIO PORTFOLIO PORTFOLIO PORTFOLIO -------------------------------------------------------------------------------------- EQAT Annual Expenses Investment Management and Advisory Fee .75% .55% .55% .55% .55% Rule 12b-1 fee(7) .25% .25% .25% .25% .25% Other Expenses .20% .05% .05% .10% .05% - ------------------------------------------------------------------------------------------------------------------------------- Total EQAT Annual Expenses (8) 1.20% .85% .85% .90% .85% - ------------------------------------------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------------------------------------------- MORGAN STANLEY MFS EMERGING EMERGING MARKETS WARBURG PINCUS MERRILL LYNCH MERRILL LYNCH GROWTH COM- EQUITY PORTFOLIO SMALL COMPANY WORLD STRATEGY BASIC VALUE PANIES PORTFOLIO VALUE PORTFOLIO PORTFOLIO EQUITY PORTFOLIO -------------------------------------------------------------------------------------- EQAT Annual Expenses Investment Management and Advisory Fee .55% 1.15% .65% .70% .55% Rule 12b-1 Fee(7) .25% .25% .25% .25% .25% Other Expenses .05% .35% .10% .25% .05% - ------------------------------------------------------------------------------------------------------------------------------- Total EQAT Annual Expenses (8) .85% 1.75% 1.00% 1.20% .85% - -------------------------------------------------------------------------------------------------------------------------------
2 - ------------------- Notes: (1) The contingent withdrawal charge is a percentage of amounts withdrawn from the Contract or defaulted loan amounts. See "Contingent Withdrawal Charge" in the addition to Part 7 of the Prospectus set forth below in this Supplement. Important exceptions and limitations may eliminate or reduce the contingent withdrawal charge. (2) The annual administrative charge is the lesser of $30 or 2% of the Annuity Account Value (adjusted to include any withdrawals made during that year). See "Annual Administrative Charge" in the addition to Part 7 of the Prospectus set forth below in this Supplement. We reserve the right to increase this fee in the future if our administrative costs increase, but such fee may not exceed an annual maximum of $65, subject to applicable law. (3) There currently is no Third Party Transfer or Exchange Fee. However, we reserve the right to impose this fee in the future, but the fee may not exceed a maximum of $65 per occurrence, subject to applicable law. (4) The total charge for Separate Account annual expenses is subject to change, but may not exceed the effective annual rate of 2.00%. See "Charges to Investment Funds" in the addition to Part 7 of the Prospectus set forth below in this Supplement. (5) Effective May 1, 1997, a new Investment Advisory Agreement was entered into between HRT and Alliance Capital Management L.P., HRT's Investment Adviser, which effected changes in HRT's management fee and expense structure. See HRT's prospectus for more information. The tables above reflecting HRT's expenses are based on average portfolio net assets for the year ended December 31, 1997 and have been restated to reflect (i) the fees that would have been paid to Alliance if the current advisory agreement had been in effect as of January 1, 1997 and (ii) estimated accounting expenses for the year ending December 31, 1997. (6) The investment advisory fee for each Portfolio may vary from year to year depending upon the average daily net assets of the respective Portfolio of HRT. The maximum investment advisory fee, however, cannot be increased without a vote of that Portfolio's shareholders. The other direct operating expenses will also fluctuate from year to year depending on actual expenses. HRT's expenses are shown as a percentage of each Portfolio's average portfolio net assets. See "Charges to Portfolios" in Part 7. (7) The Class IB shares of HRT and EQAT are subject to fees imposed under distribution plans (herein, the "Rule 12b-1 Plans" ) adopted by HRT and EQAT pursuant to Rule 12b-1 under the Investment Company Act of 1940, as amended. The Rule 12b-1 Plans provide that HRT and EQAT, on behalf of each Portfolio, may charge annually up to 0.25% of the average daily net assets of a Portfolio attributable to its Class IB shares in respect of activities primarily intended to result in the sale of the Class IB shares. The 12b-1 fee will not be increased for the life of the Contracts. (8) All EQAT Portfolios commenced operations on May 1, 1997 except the Morgan Stanley Emerging Markets Equity Portfolio, which commenced operations on August 20, 1997. The maximum investment management and advisory fees for each EQAT Portfolio cannot be increased without a vote of that Portfolio's shareholders. The amounts shown as "Other Expenses" will fluctuate from year to year depending on actual expenses; however, EQ Financial Consultants, Inc. ("EQ Financial"), EQAT's manager, has entered into an expense limitation agreement with respect to each Portfolio ("Expense Limitation Agreement"), pursuant to which EQ Financial has agreed to waive or limit its fees and assume other expenses. Under the Expense Limitation Agreement, total annual operating expenses of each Portfolio (other than interest, taxes, brokerage commissions, capitalized expenditures, extraordinary expenses and 12b-1 fees) are limited for the respective average daily net assets of each Portfolio as follows: 0.60% for Merrill Lynch Basic Value Equity, MFS Research, MFS Emerging Growth Companies, EQ/Putnam Growth & Income Value and T. Rowe Price Equity Income; 0.65% for EQ/Putnam Balanced; 0.75% for Warburg Pincus Small Company Value; 0.95% for Merrill Lynch World Strategy and T. Rowe Price International Stock; and 1.50% for Morgan Stanley Emerging Markets Equity. Absent the expense limitation, "Other Expenses" for 1997 on an annualized basis for each of the Portfolios would have been as follows: 0.80% for Warburg Pincus Small Company Value; 0.94% for T. Rowe Price Equity Income; 0.95% for EQ/Putnam Growth & Income Value; 0.98% for MFS Research; 1.02% for MFS Emerging Growth Companies; 1.09% for Merrill Lynch Basic Value Equity; 1.21% for Morgan Stanley Emerging Markets Equity; 1.56% for T. Rowe Price International Stock; 1.75% for EQ/Putnam Balanced; and 2.10% for Merrill Lynch World Strategy. Each Portfolio may at a later date make a reimbursement to EQ Financial for any of the management fees waived or limited and other expenses assumed and paid by EQ Financial pursuant to the Expense Limitation Agreement provided, that among other things, such Portfolio has reached sufficient size to permit such reimbursement to be made and provided that the Portfolio's current annual operating expenses do not exceed the operating expense limit determined for such Portfolio. See the EQAT prospectus for more information. 3 EXAMPLES: EQUI-VEST SERIES 600 The examples which follow show the expenses that a hypothetical Contract Owner of a Series 600 TSA Advantage Contract would pay in the surrender and nonsurrender situations noted below, assuming a single contribution of $1,000 on the Contract Date invested in one of the Investment Funds listed and a 5% annual return on assets and no waiver of the contingent withdrawal charge. For purposes of these examples, the annual administrative charge is computed by reference to the actual aggregate annual administrative charges as a percentage of the total assets held under all EQUI-VEST Contracts. These examples should not be considered a representation of past or future expenses for each Investment Fund or Portfolio. Actual expenses may be greater or less than those shown. Similarly, the annual rate of return assumed in the examples is not an estimate or guarantee of future investment performance. IF YOU SURRENDER YOUR CONTRACT AT THE END OF EACH PERIOD SHOWN, THE EXPENSE WOULD BE: - --------------------------------------------------------------------------------
INVESTMENT FUND 1 YEAR 3 YEARS --------------- --------------------------------- Alliance Money Market $75.63 $120.87 Alliance Intermediate Government Securities 77.32 125.96 Alliance Quality Bond 77.52 125.55 Alliance High Yield 78.12 128.34 Alliance Growth & Income 77.62 126.85 Alliance Equity Index 75.34 119.97 Alliance Common Stock 75.73 121.17 Alliance Global 79.01 131.03 Alliance International 82.48 141.41 Alliance Aggressive Stock 77.42 126.25 Alliance Small Cap Growth 81.19 137.56 Alliance Conservative Investors 77.22 125.66 Alliance Balanced 78.43 123.26 Alliance Growth Investors 77.42 126.25 T. Rowe Price International Stock Portfolio 81.19 137.56 T. Rowe Price Equity Income Portfolio 77.72 127.15 EQ/Putnam Growth & Income Value Portfolio 77.72 127.15 EQ/Putnam Balanced Portfolio 78.21 128.64 MFS Research Portfolio 77.72 127.15 MFS Emerging Growth Companies Portfolio 77.72 127.15 Morgan Stanley Emerging Markets Equity Portfolio 86.65 153.76 Warburg Pincus Small Company Value Portfolio 79.21 131.62 Merrill Lynch World Strategy Portfolio 81.19 137.56 Merrill Lynch Basic Value Equity Portfolio 77.72 127.15 - -----------------------------------------------------------------------------------------------
IF YOU DO NOT SURRENDER YOUR CONTRACT AT THE END OF EACH PERIOD SHOWN, THE EXPENSE WOULD BE: - --------------------------------------------------------------------------------
INVESTMENT FUND 1 YEAR 3 YEARS --------------------------------- Alliance Money Market $20.01 $61.86 Alliance Intermediate Government Securities 21.80 67.26 Alliance Quality Bond 22.01 67.89 Alliance High Yield 22.64 69.79 Alliance Growth & Income 22.11 58.21 Alliance Equity Index 19.70 60.91 Alliance Common Stock 20.12 62.18 Alliance Global 23.68 72.63 Alliance International 27.25 83.64 Alliance Aggressive Stock 21.90 67.57 Alliance Small Cap Growth 25.89 79.58 Alliance Conservative Investors 21.69 66.94 Alliance Balanced 20.85 64.40 Alliance Growth Investors 21.90 67.57 T. Rowe Price International Stock Portfolio 25.89 79.56 T. Rowe Price Equity Income Portfolio 22.22 68.52 EQ/Putnam Growth & Income Value Portfolio 22.22 68.52 EQ/Putnam Balanced Portfolio 22.74 70.11 MFS Research Portfolio 22.22 68.52 MFS Emerging Growth Companies Portfolio 22.22 68.52 Morgan Stanley Emerging Markets Equity Portfolio 31.66 96.74 Warburg Pincus Small Company Value Portfolio 23.79 73.26 Merrill Lynch World Strategy Portfolio 25.89 79.56 Merrill Lynch Basic Value Equity Portfolio 22.22 68.52
- ------------------- 4 The amount accumulated could not be paid in the form of an annuity at the end of any of the periods shown in the examples. If the amount applied to purchase an annuity is less than $2,000, or the initial annuity payment is less than $20, we may pay the amount to the payee in a single sum instead of as payments under an annuity form. See "Distribution Options" in Part 6. In some cases, charges for state premium or other taxes will be deducted from the amount applied, if applicable. Accumulation Unit Values No Accumulation Unit Values for any of the Investment Funds offered under the Series 600 TSA Advantage Contract are included as the Contracts were not offered prior to the date of this Prospectus. THE FOLLOWING INVESTMENT FUND PERFORMANCE INFORMATION RELATES TO THE TSA ADVANTAGE AND IS SEPARATE FROM THE INVESTMENT FUND PERFORMANCE DATA SHOWN UNDER "PART 3. INVESTMENT PERFORMANCE" BEGINNING ON PAGE 30 OF THE PROSPECTUS. INVESTMENT FUND PERFORMANCE - TSA ADVANTAGE In order to help show how the performance of Investment Funds affects Annuity Account Values, the following tables provide a historical view of investment performance for each of the Funds included. The performance shown has been calculated under two methods, as explained under "How Performance Data Are Presented" below. The information presented includes performance results along with data representing unmanaged market indices and similarly managed funds. Except as noted below, performance data for the Investment Funds reflect (i) the actual historical investment results of the corresponding Portfolios of HRT or EQAT from the date of inception of those Portfolios or certain predecessor Portfolios or accounts, and (ii) the actual investment advisory fee, Rule 12b-1 fee and direct operating expenses of the relevant Portfolios. Investment results for periods prior to October 1996, when HRT Class IB shares were not available, have been adjusted to reflect 12b-1 fees. In addition, for all periods, the performance data reflects the Separate Account asset charges assessed under the TSA Advantage Contract, as if it had been available in the periods shown. Performance for the Alliance Money Market, Alliance Balanced, Alliance Common Stock and Alliance Aggressive Stock Funds for the period before those Funds were operated as a unit investment trust has been adjusted to reflect the investment advisory fee and expense structure that became applicable to the unit investment trust. See "The Reorganization" in the SAI for additional information. Because amounts allocated to the Investment Funds are invested in a mutual fund, investment return and principal will fluctuate and Accumulation Units may be worth more or less than the original cost when redeemed. The results shown are not an estimate or guarantee of future investment performance. HOW PERFORMANCE DATA ARE PRESENTED Tables 1 and 2 compare annualized and cumulative rates of return for each Investment Fund along with appropriate benchmarks. Table 3 shows the year-by-year rates of return for each Investment Fund. These performance results are based on the change in the Accumulation Unit value for each Investment Fund for the periods shown. Investment results in Tables 1, 2, and 3 are net of all charges and expenses assessed against the Investment Funds (including fees and expenses of the Trusts) but exclude the annual administrative charge and any withdrawal charges which would also reduce the actual return. Tables 4 and 5 show performance results after giving effect to all charges and expenses including the annual administrative charge and the contingent withdrawal charge. Since charges under the Contracts may vary, we have assumed, for each charge, the highest that might apply. Certain of the Investment Funds began operations on a date after the inception date of the corresponding Portfolio. When we advertise the performance of an Investment Fund we will separately set forth the performance of that Fund since its inception date, to the extent required by regulatory authorities. BENCHMARKS Market indices are not subject to any charges for investment advisory fees typically associated with a managed portfolio. Comparisons with these benchmarks, therefore, are of limited use. We include them because they are widely known and may help you to understand the universe of securities from which each Portfolio manager is likely to make selections. 5 INCEPTION DATES AND COMPARATIVE BENCHMARKS ALLIANCE MONEY MARKET: May 11, 1982; Salomon Brothers Three-Month T-Bill Index (3-Month T-Bill). ALLIANCE INTERMEDIATE GOVERNMENT SECURITIES: April 1, 1991; Lehman Intermediate Government Bond Index (Lehman Intermediate Government). ALLIANCE QUALITY BOND: October 1, 1993; Lehman Aggregate Bond Index (Lehman Aggregate). ALLIANCE HIGH YIELD: January 2, 1987; Merrill Lynch High Yield Master Index (Master High Yield). ALLIANCE GROWTH & INCOME: October 1, 1993; 75% Standard & Poor's 500 Index (S&P 500) and 25% Value Line Convertibles Index (75% S&P 500/25% Value Line Conv.). ALLIANCE EQUITY INDEX: March 1, 1994; Standard & Poor's 500 Index (S&P 500). ALLIANCE COMMON STOCK: August 1, 1968; Standard & Poor's 500 Index (S&P 500). ALLIANCE GLOBAL: August 27, 1987; Morgan Stanley Capital International World Index (MSCI World). ALLIANCE INTERNATIONAL: April 3, 1995; Morgan Stanley Capital International Europe, Australia, Far East Index (MSCI EAFE). ALLIANCE AGGRESSIVE STOCK: May 1, 1984; 50% Russell 2000 Small Stock Index and 50% S&P MidCap Total Return (50% Russell 2000/50% S&P MidCap). ALLIANCE SMALL CAP GROWTH: May 1, 1997; Russell 2000 Growth Index (Russell 2000 Gr). ALLIANCE CONSERVATIVE INVESTORS: October 2, 1989; 70% Lehman Treasury Bond Composite Index and 30% S&P 500 Index (70% Lehman Treas./30% S&P 500). ALLIANCE BALANCED: May 1, 1984; 50% S&P 500 and 50% Lehman Government/Corporate Bond Index (50% S&P 500/50% Lehman Corp.). ALLIANCE GROWTH INVESTORS: October 2, 1989; 30% Lehman Government/Corporate Bond Index and 70% S&P 500 Index (30% Lehman Treas./70% S&P 500). T. ROWE PRICE INTERNATIONAL STOCK: May 1, 1997; Morgan Stanley Capital International Europe, Australia, Far East Index (MSCI EAFE). T. ROWE PRICE EQUITY INCOME: May 1, 1997; Standard & Poor's 500 Index (S&P 500). EQ/PUTNAM GROWTH & INCOME VALUE: May 1, 1997; Standard & Poor's 500 Index (S&P 500). EQ/PUTNAM BALANCED: May 1, 1997; 60% Standard & Poor's 500 Index and 40% Lehman Government/Corporate Bond Index (60% S&P500/40% Lehman Corp.) MFS RESEARCH: May 1, 1997; Standard & Poor's 500 Index (S&P 500). MFS EMERGING GROWTH COMPANIES: May 1, 1997; Russell 2000 Index (Russell 2000). MORGAN STANLEY EMERGING MARKETS EQUITY: August 20, 1997; Morgan Stanley Capital International Emerging Markets Free Price Return Index (MSCI Emerging Markets). WARBURG PINCUS SMALL COMPANY VALUE: May 1, 1997; Russell 2000 Index (Russell 2000). MERRILL LYNCH WORLD STRATEGY: May 1, 1997; 36% S&P 500/24% MSCI EAFE/21% Salomon Brothers US Treasury Bond 1 Year+/14% Salomon Brothers World Government Bond Ex US/5% 3-Month U.S. T-bill-(Market Composite). MERRILL LYNCH BASIC VALUE EQUITY: May 1, 1997; Standard & Poor's 500 Index (S&P 500). The Lipper Variable Insurance Products Performance Analysis Survey (Lipper) records the performance of a large group of variable annuity and variable life products, including managed separate accounts of insurance companies. According to Lipper Analytical Services, Inc., the data are presented net of investment management fees, direct operating and asset-based charges applicable under variable insurance policies or variable annuity contracts. Lipper data provide a more accurate picture than market indices of EQUI-VEST performance relative to other annuity products. All rates of return presented are time-weighted and include reinvestment of investment income, including interest and dividends. Cumulative rates of return reflect performance over a stated period of time. Annualized rates of return represent the annual rate of growth that would have produced the same cumulative return, if performance had been constant over the entire period. 6 TABLE 1: ANNUALIZED RATES OF RETURN FOR PERIODS ENDED DECEMBER 31, 1997:
- ------------------------------------------------------------------------------------------------------------------------------- PORTFOLIO SINCE INCEPTION 1 YEAR 3 YEARS 5 YEARS 10 YEARS 20 YEARS INCEPTION DATE ----------------------------------------------------------------------------------- FIXED-INCOME SERIES: Domestic Fixed Income ALLIANCE MONEY MARKET 5/11/82 Lipper Money Market 3-Month T-Bill ALLIANCE INTERMEDIATE GOVERNMENT SECURITIES 4/1/91 Lipper U.S. Government Lehman Intermediate Government ALLIANCE QUALITY BOND 10/1/93 Lipper Corporate Bond A-Rated Lehman Aggregate Aggressive Fixed Income ALLIANCE HIGH YIELD 1/2/87 Lipper High Yield Master High Yield EQUITY SERIES: Domestic Equity T. ROWE PRICE EQUITY INCOME 5/1/97 Lipper Equity Income S&P 500 EQ/PUTNAM GROWTH & INCOME VALUE 5/1/97 Lipper Growth & Income S&P 500 ALLIANCE GROWTH & INCOME 10/1/93 Lipper Growth 25% Value Line Conv./75% S&P 500 ALLIANCE EQUITY INDEX 3/1/94 Lipper S&P 500 Index Funds S&P 500 MERRILL LYNCH BASIC VALUE EQUITY 5/1/97 Lipper Growth & Income S&P 500 ALLIANCE COMMON STOCK 8/1/68 Lipper Growth S&P 500 MFS RESEARCH 5/1/97 Lipper Growth S&P 500 International Equity ALLIANCE GLOBAL 8/27/87 Lipper Global MSCI World ALLIANCE INTERNATIONAL 4/3/95 Lipper International MSCI EAFE T. ROWE PRICE INTERNATIONAL STOCK 5/1/97 Lipper International MSCI EAFE MORGAN STANLEY EMERGING MARKETS EQUITY 8/20/97 Lipper Emerging Markets MSCI Emerging Markets - -------------------------------------------------------------------------------------------------------------------------------
This table continues on next page + Return for this Fund is unannualized and represents 8 months of performance. * Return for this Fund is unannualized and represents 5 months of performance. 7 TABLE 1: ANNUALIZED RATES OF RETURN (CONTINUED):
- ------------------------------------------------------------------------------------------------------------------------------- PORTFOLIO SINCE INCEPTION 1 YEAR 3 YEARS 5 YEARS 10 YEARS 20 YEARS INCEPTION DATE ----------------------------------------------------------------------------------- EQUITY SERIES (CONTINUED): Aggressive Equity ALLIANCE AGGRESSIVE STOCK 5/1/84 Lipper Mid-Cap Growth 50% Russell 2000/50% S&P Mid-Cap WARBURG PINCUS SMALL COMPANY VALUE 5/1/97 Lipper Small-Cap Russell 2000 Growth ALLIANCE SMALL CAP GROWTH 5/1/97 Lipper Small-Cap Russell 2000 Growth MFS EMERGING GROWTH 5/1/97 COMPANIES Lipper Mid-Cap Russell 2000 ASSET ALLOCATION SERIES: ALLIANCE CONSERVATIVE INVESTORS 10/2/89 Lipper Income 70% Lehman Treas./30% S&P 500 EQ/PUTNAM BALANCED 5/1/97 Lipper Balanced 40% Lehman Gov't./Corp./60% S&P 500 ALLIANCE BALANCED 5/1/84 Lipper Flexible Portfolio 50% Lehman Gov't./Corp./70% S&P 500 ALLIANCE GROWTH INVESTORS 10/2/89 Lipper Flexible Portfolio 30% Lehman Gov't./Corp./70% S&P 500 MERRILL LYNCH WORLD STRATEGY 5/1/97 Lipper Global Flexible Portfolio Market Composite
- -------------------------------------------------------------------------------- + Return for this Fund is unannualized and represents 8 months of performance. * Return for this Fund is unannualized and represents 5 months of performance. 8 TABLE 2: CUMULATIVE RATES OF RETURN FOR PERIODS ENDED DECEMBER 31, 1997:
- ------------------------------------------------------------------------------------------------------------------------------- PORTFOLIO SINCE INCEPTION 1 YEAR 3 YEARS 5 YEARS 10 YEARS 20 YEARS INCEPTION DATE ----------------------------------------------------------------------------------- FIXED-INCOME SERIES: Domestic Fixed Income ALLIANCE MONEY MARKET 5/11/82 Lipper Money Market 3-Month T-Bill ALLIANCE INTERMEDIATE GOVERNMENT SECURITIES 4/1/91 Lipper U.S. Government Lehman Intermediate Government ALLIANCE QUALITY BOND 10/1/93 Lipper Corporate Bond A-Rated Lehman Aggregate Aggressive Fixed Income ALLIANCE HIGH YIELD 1/2/87 Lipper High Yield Master High Yield EQUITY SERIES: Domestic Equity T. ROWE PRICE EQUITY INCOME 5/1/97 Lipper Equity Income S&P 500 EQ/PUTNAM GROWTH & INCOME VALUE 5/1/97 Lipper Growth & Income S&P 500 ALLIANCE GROWTH & INCOME 10/1/93 Lipper Growth & Income 25% Value Line Conv./75% S&P 500 ALLIANCE EQUITY INDEX 3/1/94 Lipper S&P 500 Index Funds S&P 500 MERRILL LYNCH BASIC VALUE EQUITY 5/1/97 Lipper Growth & Income S&P 500 ALLIANCE COMMON STOCK 8/1/68 Lipper Growth S&P 500 MFS RESEARCH 5/1/97 Lipper Growth S&P 500 International Equity ALLIANCE GLOBAL 8/27/87 Lipper Global MSCI World ALLIANCE INTERNATIONAL 4/3/95 Lipper International MSCI EAFE T. ROWE PRICE INTERNATIONAL STOCK 5/1/97 Lipper International MSCI EAFE MORGAN STANLEY EMERGING MARKETS EQUITY 8/20/97 Lipper Emerging Markets MSCI Emerging Market - -------------------------------------------------------------------------------------------------------------------------------
This table continues on next page 9 TABLE 2: CUMULATIVE RATES OF RETURN (CONTINUED):
- ------------------------------------------------------------------------------------------------------------------------------- PORTFOLIO SINCE INCEPTION 1 YEAR 3 YEARS 5 YEARS 10 YEARS 20 YEARS INCEPTION DATE ----------------------------------------------------------------------------------- EQUITY SERIES (CONTINUED): Aggressive Equity ALLIANCE AGGRESSIVE STOCK 5/1/84 Lipper Mid-Cap Growth 50% Russell 2000/50% S&P Mid-Cap WARBURG PINCUS SMALL COMPANY VALUE 5/1/97 Lipper Small-Cap Russell 2000 ALLIANCE SMALL CAP GROWTH 5/1/97 Lipper Small-Cap Russell 2000 Growth MFS EMERGING GROWTH COMPANIES 5/1/97 Lipper Mid-Cap Russell 2000 ASSET ALLOCATION SERIES: ALLIANCE CONSERVATIVE INVESTORS 10/2/89 Lipper Income 70% Lehman Treas./30% S&P 500 EQ/PUTNAM BALANCED 5/1/97 Lipper Balanced 40% Lehman Gov't./Corp./60% S&P 500 ALLIANCE BALANCED 5/1/84 Lipper Flexible Portfolio 50% Lehman Gov't./Corp./70% S&P 500 ALLIANCE GROWTH INVESTORS 10/2/89 Lipper Flexible Portfolio 30% Lehman Gov't./Corp./70% S&P 500 MERRILL LYNCH WORLD STRATEGY 5/1/97 Lipper Global Flexible Portfolio Market Composite - -------------------------------------------------------------------------------------------------------------------------------
10 TABLE 3: YEAR-BY-YEAR RATES OF RETURN
- -------------------------------------------------------------------------------------------------------------------------------- 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 -------------------------------------------------------------------------------------------- ALLIANCE MONEY MARKET ALLIANCE INTERMEDIATE GOVERNMENT SECURITIES ALLIANCE QUALITY BOND ALLIANCE HIGH YIELD ALLIANCE GROWTH & INCOME ALLIANCE EQUITY INDEX ALLIANCE COMMON STOCK ALLIANCE GLOBAL ALLIANCE INTERNATIONAL ALLIANCE AGGRESSIVE STOCK ALLIANCE SMALL CAP GROWTH ALLIANCE CONSERVATIVE INVESTORS ALLIANCE BALANCED ALLIANCE GROWTH INVESTORS T. ROWE PRICE INTERNATIONAL STOCK PORTFOLIO T. ROWE PRICE EQUITY INCOME PORTFOLIO EQ/PUTNAM GROWTH & INCOME VALUE PORTFOLIO EQ/PUTNAM BALANCED PORTFOLIO MFS RESEARCH PORTFOLIO MFS EMERGING GROWTH COMPANIES PORTFOLIO MORGAN STANLEY EMERGING MARKETS EQUITY PORTFOLIO WARBURG PINCUS SMALL COMPANY VALUE PORTFOLIO MERRILL LYNCH WORLD STRATEGY PORTFOLIO MERRILL LYNCH BASIC VALUE EQUITY PORTFOLIO
- ------------------- * Unannualized - -------------------------------------------------------------------------------- The performance data in Tables 4 and 5, illustrate the growth of an investment, and the average annual total return of the Investment Funds, respectively, over the periods shown assuming a single initial contribution of $1,000 and termination of the TSA Advantage Contract at the end of each period on December 31, 1997, under circumstances in which the contingent withdrawal charge applies. The values shown are also net of all other charges and expenses assessed against the Investment Funds. An Investment Fund's average annual total return is the annual rate of growth of the Investment Fund that would be necessary to achieve the ending value of a contribution kept in the Investment Fund for the period specified. 11 Each calculation further assumes that the $1,000 contribution was allocated to only one Investment Fund, no transfers or additional contributions were made, no loans, and no amounts were allocated to any other Investment Fund under the Contract. In order to calculate the performance information, we divide the termination value (defined below) of a Contract which is terminated on December 31, 1997 by the $1,000 investment made at the beginning of each period illustrated. The result of that calculation is the total growth rate for the period. Then we annualize that growth rate to obtain the average annual percentage increase (decrease) during the period shown. When we "annualize," we assume that a single rate of return applied each year during the period will produce the ending value, taking into account the effect of compounding. "Termination value" means the Annuity Account Value less the contingent withdrawal charge, the annual administrative charge and all other charges and expenses which are applied against an Investment Fund. See "Part 7: Deductions and Charges" in the Prospectus. 12 TABLE 4: GROWTH OF $1,000 FOR CONTRACTS TERMINATED ON DECEMBER 31, 1997:
- ------------------------------------------------------------------------------------------------------------------------------- LENGTH OF INVESTMENT PERIOD -------------------------------------------------------------------------------------- INVESTMENT ONE THREE FIVE TEN SINCE PORTFOLIO FUND YEAR YEARS YEARS YEARS INCEPTION* - ------------------------------------------------------------------------------------------------------------------------------- Alliance Money Market Alliance Intermediate Government Securities Alliance Quality Bond Alliance High Yield Alliance Growth & Income Alliance Equity Index Alliance Common Stock Alliance Global Alliance International Alliance Aggressive Stock Alliance Small Cap Growth Alliance Conservative Investors Alliance Balanced Alliance Growth Investors T. Rowe Price International Stock Portfolio T. Rowe Price Equity Income Portfolio E/Q Putnam Growth & Income Value Portfolio E/Q Putnam Balanced Portfolio MFS Research Portfolio MFS Emerging Growth Companies Portfolio Morgan Stanley Emerging Markets Equity Portfolio Warburg Pincus Small Company Value Portfolio Merrill Lynch World Strategy Portfolio Merrill Lynch Basic Value Equity Portfolio - -------------------------------------------------------------------------------------------------------------------------------
* Portfolio inception dates are shown in Tables 1 and 2. 13 TABLE 5: AVERAGE ANNUAL TOTAL RETURN UNDER CONTRACTS TERMINATED ON DECEMBER 31, 1997:
- ------------------------------------------------------------------------------------------------------------------------------- LENGTH OF INVESTMENT PERIOD -------------------------------------------------------------------------------------- INVESTMENT SINCE FUND ONE THREE FIVE TEN SINCE FUND PORTFOLIO YEAR YEARS YEARS YEARS INCEPTION* INCEPTION** - ------------------------------------------------------------------------------------------------------------------------------- Alliance Money Market Alliance Intermediate Government Securities Alliance Quality Bond Alliance High Yield Alliance Growth & Income Alliance Equity Index Alliance Common Stock Alliance Global Alliance International Alliance Aggressive Stock Alliance Small Cap Growth Alliance Conservative Investors Alliance Balanced Alliance Growth Investors T. Rowe Price International Stock Portfolio T. Rowe Price Equity Income Portfolio E/Q Putnam Growth & Income Value Portfolio E/Q Putnam Balanced Portfolio MFS Research Portfolio MFS Emerging Growth Companies Portfolio Morgan Stanley Emerging Markets Equity Portfolio Warburg Pincus Small Company Value Portfolio Merrill Lynch World Strategy Portfolio Merrill Lynch Basic Value Equity Portfolio
- ------------------- * Fund inception dates are: Alliance Money Market (5/11/82), Alliance Intermediate Government Securities (6/1/94), Alliance Quality Bond (1/4/94), Alliance High Yield (1/4/94), Alliance Growth & Income (1/4/94), Alliance Equity Index (6/1/94), Alliance Common Stock (8/27/81), Alliance Global (1/4/94), Alliance International (9/1/95), Alliance Growth Investors (1/4/94), Alliance Aggressive Stock (5/1/84), Alliance Small Cap Growth (6/2/97), Alliance Conservative Investors (1/4/94), Alliance Balanced (5/1/84), T. Rowe Price International Stock (6/2/97), T. Rowe Price Equity Income (6/2/97), EQ/Putnam Growth & Income Value (6/2/97), EQ/Putnam Balanced (6/2/97), MFS Research (6/2/97), MFS Emerging Growth Companies (6/2/97), Morgan Stanley Emerging Markets Equity (8/20/97), Warburg Pincus Small Company Value (6/2/97), Merrill Lynch World Strategy (6/2/97), Merrill Lynch Basic Value Equity (6/2/97). ** Portfolio inception dates are shown in Tables 1 and 2. - -------------------------------------------------------------------------------- 14 COMMUNICATING PERFORMANCE DATA In reports or other communications or in advertising material, we may describe general economic and market conditions affecting the Separate Account and HRT or EQAT and may present the performance of the Investment Funds or compare it with (1) that of other insurance company separate accounts or mutual funds included in the rankings prepared by Lipper Analytical Services, Inc., Morningstar Inc., VARDS or similar investment services that monitor the performance of insurance company separate accounts or mutual funds, (2) other appropriate indices of investment securities and averages for peer universes of funds which are described elsewhere in this prospectus, or (3) data developed by us derived from such indices or averages. The Morningstar Variable Annuity/Life Report consists of over 700 variable life and annuity funds, all of which report their data net of investment management fees, direct operating expenses and separate account charges. VARDS is a monthly reporting service that monitors over 2,500 variable life and variable annuity funds on performance and account information. Advertisements or other communications furnished to present or prospective Contract Owners may also include evaluations of an Investment Fund or Portfolio by financial publications that are nationally recognized such as Barron's, Morningstar's Variable Annuity Sourcebook, Business Week, Chicago Tribune, Forbes, Fortune, Institutional Investor, Investment Adviser, Investment Dealer's Digest, Investment Management Weekly, Los Angeles Times, Money, Money Management Letter, Kiplinger's Personal Finance, Financial Planning, National Underwriter, Pension & Investments, USA Today, Investor's Daily, The New York Times and The Wall Street Journal. THE FOLLOWING SENTENCE IS ADDED TO THE END OF THE THIRD PARAGRAPH UNDER "PART 4: THE GUARANTEED INTEREST ACCOUNT" ON PAGE 41 OF THE PROSPECTUS: Equitable reserves the right to declare yearly guaranteed interest rates and current interest rates with respect to the TSA Advantage Contracts that are different than such rates as declared and applicable to the other EQUI-VEST Contracts. THE FOLLOWING PARAGRAPH REPLACES THE FOURTH PARAGRAPH UNDER "CHARGES TO PORTFOLIOS" ON PAGE 55 OF THE PROSPECTUS: The Rule 12b-1 Plan provides that EQAT and HRT, on behalf of each of their Portfolios, may charge annually up to 0.25% of the average daily net assets of a Portfolio attributable to its Class IB shares in respect of activities primarily intended to result in the sale of the Class IB shares. This fee will not be increased for the life of the Contract. Fees and expenses are described more fully in the EQAT and HRT prospectuses. THE FOLLOWING IS ADDED TO THE END OF "PART 7 : CHARGES AND DEDUCTIONS" ON PAGE 62 OF THE PROSPECTUS: - -------------------------------------------------------------------------------- EQUI-VEST TSA ADVANTAGE CONTRACTS (SERIES 600 ONLY) - -------------------------------------------------------------------------------- CHARGES TO INVESTMENT FUNDS We make a daily charge at the effective annual rate of 1.20% against the assets held in each of the Investment Funds. This charge is reflected in the Accumulation Unit Values for the particular Investment Fund and covers mortality and expense risk and death benefit charges of .95% and expenses of 0.25%. The mortality and expense risk and death benefit charge is comprised of 0.50% for mortality risk, including guaranteed death benefits, and 0.45% for expense risk, although the allocation of these charges may vary. We assume a mortality risk by (a) our obligation to pay a death benefit that will not be less than the total value of all contributions made (less any applicable taxes) adjusted for total withdrawals, (b) our obligation to make annuity payments for the life of the Annuitant under guaranteed fixed annuity options, regardless of the Annuitant's longevity, (c) our guarantees relating to annuity purchase rates, the actuarial basis for which can be changed only for new contributions and 15 only on the fifth anniversary of the Contract Date and every five years thereafter, and (d) our obligation to waive the contingent withdrawal charge upon the payment of a death benefit. The expense risk we assume is the risk that, over time, our actual expense of administering the Contracts, including financial accounting, may exceed the amounts realized from the expense charge and the annual administrative expense charge. Part of the mortality and expense risk charge may be considered to be an indirect reimbursement for certain sales and promotional expenses relating to the Contracts to the extent that the charge is not needed to meet the actual expenses incurred. The charge for expenses, together with the annual administrative charge described below, is designed to reimburse us for our costs in providing administrative services in connection with the Contracts. Maximum Total Separate Account Charges We may change the annual rate of the daily asset charge imposed on the amounts held in the Investment Funds comprising the Separate Account. We may increase or decrease the 1.20% total Separate Account charge currently applicable, but may not increase the total charge above a maximum annual rate of 2.00%. Any increase would only be made upon advance notice to you and would apply only to contributions made after the date of the change. Changes, if any, would reflect differences in costs and anticipated mortality and expense experience, and would not be unfairly discriminatory. CONTINGENT WITHDRAWAL CHARGE No sales charges are deducted from contributions. However, to assist us in defraying the various sales and promotional expenses incurred in connection with selling the Contracts, we assess a charge on amounts withdrawn when you make a partial withdrawal, default on a loan or terminate your Contract if the amount withdrawn, or the defaulted loan amount, as the case may be, is in excess of the free corridor amount (defined in this section) or if no exception applies. The amount of the withdrawal and the applicable contingent withdrawal charge are deducted pro rata from the Investment Funds, and the Guaranteed Interest Account should collection from the other Investment Options be insufficient. The amount deducted to pay the contingent withdrawal charge is also subject to the withdrawal charge. The contingent withdrawal charge is equal to 6% of the amount withdrawn or the defaulted loan amount during the first six Contract Years. In the case of a termination, we will pay the greater of (i) the Annuity Account Value after the withdrawal charge has been imposed, as described above, or (ii) the free corridor amount plus 94% of the remaining Annuity Account Value. We reserve the right to change the amount of the contingent withdrawal charge, provided that it will not exceed 6% of the amount withdrawn or the defaulted loan amount. Applicable regulations would not permit such a change if it would be unfairly discriminatory to any person. The contingent withdrawal charge will not exceed applicable regulatory limits, if any. Also, the total of all withdrawal charges assessed will not exceed 8% of all contributions made. The tax consequences of withdrawals are discussed under "Part 9: Federal Tax and ERISA Matters." Free Withdrawal Amount (Free Corridor) No withdrawal charge will be applied during any Contract Year in which the amount withdrawn is less than or equal to 10% of the Annuity Account Value at the time the withdrawal is requested minus any amount previously withdrawn during that Contract Year. This 10% portion is called the FREE CORRIDOR AMOUNT. Any withdrawal requested that exceeds the free corridor amount will be subject to the contingent withdrawal charge, unless one of the following exceptions applies. Exceptions to the Contingent Withdrawal Charge A contingent withdrawal charge will not apply upon any of the events listed below: o the Annuitant retires pursuant to terms of the TSA Plan, or separates from service; o the Annuitant reaches age 59 1/2 and completes at least five Contract Years; 16 o the Annuitant dies and a death benefit is payable to the beneficiary; o we receive a properly completed election form providing for the Annuity Account Value to be used to buy a life annuity; o the Annuitant attains age 55 and completes at least five Contract Years and we receive a properly completed election form providing for the Annuity Account Value to be used to buy a period certain annuity which extends beyond the Annuitant's attainment of age 59 1/2 and does not permit any prepayment of the unpaid principal prior to the Annuitant's attainment of age 59 1/2; o the Annuitant completes at least three Contract Years and we receive a properly completed election form providing for the Annuity Account Value to be used to buy a period certain annuity of at least 10 years which does not permit any prepayment of the unpaid principal; o a request is made for a refund of an excess Contribution within one month of the date on which the Contribution is made; o the Annuitant has qualified to receive Social Security disability benefits as certified by the Social Security Administration; o we receive proof satisfactory to us that the Annuitant's life expectancy is six months or less (such proof must include, but is not limited to, certification by a licensed physician); o the Annuitant has been confined to a nursing home for more than a 90 day period (or such other period, if required in your state) as verified by a licensed physician. A nursing home for this purpose means one which is (a) approved by Medicare as a provider of skilled nursing care service, or (b) licensed as a skilled nursing home by the state or territory in which it is located (it must be within the United States, Puerto Rico, U.S. Virgin Islands, or Guam) and meets all of the following: - its main function is to provide skilled, intermediate, or custodial nursing care; - it provides continuous room and board to three or more persons; - it is supervised by a registered nurse or licensed practical nurse; - it keeps daily medical records of each patient; - it controls and records all medications dispensed; and - its primary service is other than to provide housing for residents. o the Annuitant elects a withdrawal that qualifies as a hardship withdrawal under the Code. ANNUAL ADMINISTRATIVE CHARGE Except as discussed below, on the last Business Day of each Contract Year we deduct from the Annuity Account Value an annual administrative charge equal to the lesser of $30 or 2% of the Annuity Account Value on such Business Day (adjusted to include any withdrawals made during the year). This charge is deducted from each Investment Option on a pro rata basis. This charge will be prorated for a fractional year if, before the end of the Contract Year, you surrender your Contract, or the Annuity Account Value is applied to provide an annuity benefit or death benefit. Accumulation Units will be redeemed in order to pay any portion of the charge deducted from an Investment Fund. We reserve the right to increase this charge in the future to a maximum of $65 if our administrative costs increase. Any portion of the charge deducted from the Guaranteed Interest Account is withdrawn in dollars. Exceptions to Annual Administrative Charge For TSA Advantage Contracts, no charge will apply if the Annuity Account Value is at least $25,000 at the end of the Contract Year. 17 THIRD PARTY TRANSFER OR EXCHANGE FEE There currently is no Third Party Transfer or Exchange Fee. However, we reserve the right to impose this fee in the future, but it may not exceed a maximum of $65 per occurrence, subject to applicable law. ADDITIONAL INFORMATION At some time in the future Equitable Life may, under certain circumstances and subject to applicable law, allow a current owner of a Series 100 or Series 200 TSA contract to exchange it for a TSA Advantage Contract. An exchange for a TSA Advantage Contract may or may not be advantageous to you, based on all the circumstances, including a comparison of contractual terms and conditions, and charges and deductions. Additional information will be available upon request from Equitable Life at such time as exchanges may be permitted. 59732v1 18 PART C OTHER INFORMATION ----------------- This Part C is amended solely for the purpose of adding Exhibits 4(k), 4(l), 4(m), 4(n), 4(o), 4(p), and 5(c) to Item 24(b), and filing such exhibits herewith. No amendment or deletion is made of any of the other information set forth under the Part C Items as provided in Post-Effective Amendment No. 60 to the Registration Statement. Item 24. Financial Statements and Exhibits ---------------------------------- (b) Exhibits. The following exhibits are filed herewith: 4(k) Form of Data pages for TSA Advantage Certificates 4(l) Form of Endorsement applicable to TSA Advantage Certificates, plus Table of Guaranteed Annuity Payments Rider 4(m) Form of Data Pages for standard Roth IRA Certificates 4(n) Form of Endorsement for standard Roth IRA Certificates 4(o) Form of Data Pages for Roth Advantage IRA Certificates 4(p) Form of Endorsement for Roth Advantage IRA Certificates 5(c) Form of Application for use with TSA Advantage Certificates, standard Roth IRA Certificates, and Roth Advantage IRA Certificates C-1 SIGNATURES As required by the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant certifies that it has duly caused this Registration Statement or amendment thereto to be signed on its behalf, in the City and State of New York, on the 9th day of June, 1998. SEPARATE ACCOUNT A OF THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES (Registrant) By: The Equitable Life Assurance Society of the United States By: /s/ Naomi Weinstein ------------------------- Naomi Weinstein Vice President C-2 SIGNATURES As required by the Securities Act of 1933 and the Investment Company Act of 1940, the Depositor certifies that it has duly caused this Registration Statement or amendment thereto to be signed on its behalf, in the City and State of New York, on the 9th day of June, 1998. THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES (Depositor) By: /s/ Naomi Weinstein ------------------------ Naomi Weintein Vice President As required by the Securities Act of 1933 and the Investment Company Act of 1940, this amendment to the Registration Statement has been signed by the following persons in the capacities and on the date indicated: PRINCIPAL EXECUTIVE OFFICERS: Michael Hegarty President, Chief Operating Officer and Director Edward D. Miller Chairman of the Board, Chief Executive Officer and Director PRINCIPAL FINANCIAL OFFICER: Stanley B. Tulin Vice Chairman of the Board, Chief Financial Officer and Director PRINCIPAL ACCOUNTING OFFICER: /s/ Alvin H. Fenichel Senior Vice President and Controller - --------------------- Alvin H. Fenichel June 9, 1998 DIRECTORS: Francoise Colloc'h Donald J. Greene G. Donald Johnston, Jr. Henri de Castries John T. Hartley George T. Lowy Joseph L. Dionne John H.F. Haskell, Jr. Edward D. Miller Denis Duverne Michael Hegarty Didier Pineau-Valencienne William T. Esrey Mary R. (Nina) Henderson George J. Sella, Jr. Jean-Rene Fourtou W. Edwin Jarmain Stanley B. Tulin Norman C. Francis Dave H. Williams By: /s/ Naomi Weinstein ------------------------- Naomi Weinstein Attorney-in-Fact June 9, 1998 C-3 EXHIBIT INDEX --------------
EXHIBIT NO. TAG VALUE - ----------- -------- 4(k) Form of Data Pages for TSA Advantage Certificates EX-99.4k DATA 4(l) Form of Endorsement applicable to TSA Advantage Certificates, plus Table of Guaranteed Annuity Payments Rider EX-99.4l ENDORSE 4(m) Form of Data Pages for standard Roth IRA Certificates EX-99.4m DATA 4(n) Form of Endorsement for standard Roth IRA Certificates EX-99.4n ENDORSE 4(o) Form of Data Pages for Roth Advantage Certificates EX-99.4o DATA 4(p) Form of Endorsement for Roth Advantage Certificates EX-99.4p ENDORSE 5(c) Form of Application for use with TSA Advantage Certificates, standard Roth IRA Certificates, and Roth Advantage IRA Certificates EX-99.5c APPLICATION
4268 C-4 EX-99.4KDATA 2 TSA ADVANTAGE CERTIFICATES DATA PAGES DATA PART A - THIS PART LISTS YOUR PERSONAL DATA OWNER: [John Doe] ANNUITANT: [Annuitant is same as Owner for TSA] [John Doe] CERTIFICATE NUMBER: [XXXX] ENDORSEMENTS ATTACHED: [TSA Endorsement] CONTRACT: GROUP ANNUITY CONTRACT NO. AC [0000] ISSUE DATE: [July 13, 1998] CONTRACT DATE: [July 13, 1998] ANNUITY COMMENCEMENT DATE: The maximum maturity age is age [90] - see Section 7.03. BENEFICIARY: [Jane Doe] No. 94ICA/B-TSAER Page 1 DATA PAGES (CONT'D.) PART B - THIS PART LISTS THE CONTRACT TERMS WHICH AFFECT THE TYPE OF CERTIFICATE YOU HAVE. INITIAL GUARANTEED INTEREST RATE: [6% through December 31, 1999] MINIMUM GUARANTEED INTEREST RATE; [3% after December 31, 1999] INVESTMENT OPTIONS AVAILABLE (SEE PART II); YOUR ALLOCATION PERCENTAGE (UNTIL CHANGED) IS ALSO SHOWN:
INVESTMENT OPTION TYPE* ALLOCATION PERCENTAGE** ---------------- ----- ----------------------- o GUARANTEED INTEREST ACCOUNT N/A o ALLIANCE EQUITY INDEX TYPE A o ALLIANCE GROWTH & INCOME TYPE A o ALLIANCE COMMON STOCK TYPE A o ALLIANCE GLOBAL TYPE A o ALLIANCE INTERNATIONAL TYPE A o ALLIANCE AGGRESSIVE STOCK TYPE A o ALLIANCE GROWTH INVESTORS TYPE A o ALLIANCE BALANCED TYPE A o ALLIANCE SMALL CAP GROWTH TYPE A o ALLIANCE CONSERVATIVE INVESTORS TYPE B o ALLIANCE MONEY MARKET TYPE B o ALLIANCE INTERMEDIATE GOV'T. SECURITIES TYPE B ALLIANCE QUALITY BOND TYPE B o ALLIANCE HIGH YIELD TYPE B o T. ROWE PRICE INTERNATIONAL STOCK TYPE A o T. ROWE PRICE EQUITY INCOME TYPE A o EQ/PUTNAM GROWTH & INCOME VALUE TYPE A o EQ/PUTNAM BALANCED TYPE A o MFS RESEARCH TYPE A o MFS EMERGING GROWTH COMPANIES TYPE A o MORGAN STANLEY EMERGING MARKETS EQUITY TYPE A o WARBURG PINCUS SMALL COMPANY VALUE TYPE A o MERRILL LYNCH WORLD STRATEGY TYPE A o MERRILL LYNCH BASIC VALUE EQUITY TYPE A --------------------------------- o TOTAL: 100%]
[*TYPE A AND B INVESTMENT OPTIONS SHOWN ARE INVESTMENT FUNDS OF OUR SEPARATE ACCOUNT A.] ** SEE SECTION 3.01 PROCESSING DATES (SEE SECTION 1.20): A Processing Date is [the last Business Day of each Contract Year]. No. 94ICA/B-TSAER Page 2 DATA PAGES (CONT'D.) CONTRIBUTION LIMITS (SEE SECTION 3.02): In addition to the maximum limits set by law as described in the Endorsement hereto, we may refuse to accept any Contribution which is less than [$20.] TRANSFER RULES (SEE SECTION 4.02): If you have elected any Type B Investment Option, whether or not amounts have actually been placed in any such Option, then the maximum amount which may be transferred from the Guaranteed Interest Account to any other Investment Option in any Contract year is: (a) [25%] of the amount you have in the Guaranteed Interest Account on the last day of the prior Contract year or, if greater, (b) the total of all amounts transferred at your request from the Guaranteed Interest Account to any of the other Investment Options in such prior Contract year. NUMBER OF FREE TRANSFERS IN A CONTRACT YEAR (SEE SECTION 4:02): [Unlimited] We have the right in accordance with Section 4.02 to change our transfer rules. We may impose a transfer charge of up to a maximum of $65 for each direct transfer to a third party of amounts under your Contract or for an exchange of another carrier's contract. MINIMUM TRANSFER AMOUNT (SEE SECTION 4:02): [$300 or the Annuity Account Value in an investment option if less.] MINIMUM WITHDRAWAL AMOUNT (SEE SECTION 5.01): [$300 or the Annuity Account Value if less.] MINIMUM AMOUNT OF ANNUITY ACCOUNT VALUE AFTER A WITHDRAWAL (SEE SECTION 5.02(A)): [$500]. DEATH BENEFIT AMOUNT (SEE SECTION 6.01); The Annuity Account Value or, if greater, the sum of all Contributions made, less o any tax charge that applies, o all withdrawals made, o any outstanding loan balance (if loans are permitted under your plan). NORMAL FORM OF ANNUITY (SEE SECTION 7.02): [Joint and Survivor Annuity Form] MINIMUM AMOUNT TO BE APPLIED FOR AN ANNUITY (SEE SECTION 7.06): [$2,000], as well as minimum of [$20] for initial annuity payment. No. 94ICA/B-TSAER Page 3 INTEREST RATE TO BE APPLIED OR MISSTATEMENT OF AGE OR SEX (SEE SECTION 7.06): [6% per year.] WITHDRAWAL CHARGE (SEE SECTION 8.01): [ 6% during Contract Years 1 through 6 0% thereafter of the excess of the Annuity Account Value over the Free Corridor Amount; but not more than 8% of the total contributions made.] FREE CORRIDOR AMOUNT (SEE SECTION 8.01): [10%] of Annuity Account Value plus any outstanding loan balance (if loans are permitted under your plan) minus withdrawals made in current Contract year. Amounts withdrawn up to the Free Corridor Amount will not be deemed a withdrawal of Contributions. NO WITHDRAWAL CHARGES WILL APPLY IN THESE EVENTS, EACH OF WHICH OCCURS AFTER THE CONTRACT DATE: [(1) the Annuitant retires pursuant to terms of the Plan, or separates from service; (2) the Annuitant reaches 59 1/2 and completes at least 5 Contract Years; (3) the Annuitant dies and a death benefit is payable to the beneficiary; (4) we receive a properly completed election form providing for the Annuity Account Value to be used to buy a life annuity as described in Section 7.03; (5) the Annuitant attains age 55 and completes at least 5 Contract Years and we receive a properly completed election form providing for the Annuity Account Value to be used to buy a period certain annuity which extends beyond the Annuitant's attainment of age 59 1/2 and does not permit any prepayment of the unpaid principal prior to the Annuitant's attainment of age 59 1/2; (6) the Annuitant completes at least three Contract Years and we receive a properly completed election form providing for the Annuity Account Value to be used to buy a period certain annuity of at least 10 years which does not permit any prepayment of the unpaid principal; (7) a request is made for a refund of an excess Contribution within one month of the date on which the Contribution is made; (8) the Annuitant has qualified to receive Social Security disability benefits as certified by the Social Security Administration; (9) we receive proof satisfactory to us that the Annuitant's life expectancy is six months or less (such proof must include, but is not limited to, certification by a licensed physician); No. 94ICA/B-TSAER Page 4 (10) the Annuitant has been confined to a nursing home for more than a 90 day period (or such other period, if required in your state) as verified by a licensed physician. A nursing home for this purpose means one which is (a) approved by Medicare as a provider of skilled nursing care service, or (b) licensed as a skilled nursing home by the state or territory in which it is located (it must be within the United States, Puerto Rico, U.S. Virgin Islands, or Guam) and meets all of the following: - its main function is to provide skilled, intermediate, or custodial nursing care; - it provides continuous room and board to three or more persons; - it is supervised by a registered nurse or licensed practical nurse; - it keeps daily medical records of each patient; - it controls and records all medications dispensed; and - its primary service is other than to provide housing for residents. (11) the Annuitant elects a withdrawal that qualifies as a hardship withdrawal under the Code.] ADMINISTRATIVE CHARGES (SEE SECTION 8.02): (a) The lesser of [$30] and 2% of the Annuity Account Value plus the amount of any withdrawals made in such Contract year pursuant to Section 5.01. This amount may be increased to a maximum of $65 in accordance with Section 8.02. However, no Charge will apply if the Annuity Account Value is more than [$25,000.] The Administrative Charges will be deducted on a pro-rata basis among Investment Options. Also, they will be pro-rated for the portion of the Contract Year in which the Contract Date occurs or in which the Annuity Account Value is withdrawn or applied to provide an Annuity Benefit or death benefit. DAILY SEPARATE ACCOUNT CHARGE (SEE SECTION 8.04): [1.20%; this is subject to change as described in Sections 8.04 and 8.05, subject to a maximum of 2.00%. This charge is for financial accounting and for death benefits, mortality risk, expenses and expense risk that we assume.] No. 94ICA/B-TSAER Page 5 [CERTIFICATE - TSA] TABLE OF GUARANTEED VALUES [Issue Age: 38, Male Number of Years Guaranteed Since First Contribution Cash Value ------------------------ ---------- 1 $909 2 1,832 3 2,783 4 3,762 5 4,770 6 5,809 7 6,878 8 7,980 9 9,115 10 10,284 11 11,500 12 12,756 13 14,133 14 15,550 15 17,011 16 18,515 17 20,064 18 21,660 19 23,303 20 24,996 21 26,740 22 28,536 23 30,386 24 (age 62) 32,291 25 34,254 26 36,275 27 (age 65) 38,357 The table illustrates minimum guaranteed values. It assumes a $1,000 Contribution made each year on the first month which follows the Contract Date. The table reflects (a) the maximum annual administrative charge of $65 and (b) the maximum withdrawal charge of 8% of Contributions made in the first six Contract years, as provided in Section 8.01. The table assumes that 100% of all Contributions and earnings are in the Guaranteed Interest Account. Your actual values may differ from those shown above based on the level and frequency of your Contributions. Based on the above assumptions, the Guaranteed Paid-Up Monthly Annuity at age 65 is [$141.54]. This amount assumes a fixed benefit 100% joint & survivor life annuity (unisex table). It will be reduced by any charge we make for any taxes (see Section 7.05). Other forms of Annuity Benefits may be available.] No. 94ICA/B-TSAER Page 6 EX-99.4L 3 TSA ADVANTAGE ENDORSEMENT ENDORSEMENT APPLICABLE TO TSA CERTIFICATES When issued with this Endorsement, this Certificate is a "TSA Certificate" which meets the requirements of Section [403(b)] of the Code. It is established for the exclusive benefit of you and your beneficiaries, and the terms below change, or are added to, applicable sections of this Certificate. Also, your rights under the Certificate are not forfeitable. When used in this Endorsement references to the Code include references to applicable tax Regulations. 1. ANNUITY COMMENCEMENT DATE (SECTION 1.04): Your choice of an Annuity Commencement Date is subject to the maximum maturity age stated in the Data pages. If you choose an Annuity Commencement Date later than age [70 1/2], you must withdraw at least the minimum payments required by tax regulations that apply, unless you elect to satisfy these requirements through other "403(b) arrangements" (defined in Item 6). See item 8 below. 2. EMPLOYER (SECTION 1.13): "Employer" means either of the following: (a) An organization described in Section [501(c)(3)] of the Code which is exempt from Federal income tax under Section [501(a)] of the Code. (b) A State, a political subdivision of a State or an agency or instrumentality of any of the foregoing, with respect to employees who perform services for any educational organization, as described in Section [170(b)(1)(A)(ii)] of the Code. 3. OWNER (SECTION 1.17): You must be both the Owner and the Annuitant (unless we agree that you may name a different Annuitant, subject to the Code or other applicable law). 4. PLAN (SECTION 1.18): "Plan" means an ERISA Plan, which is a program established by the Employer for the purchase of annuities for its employees and which is subject to Title I of the Employee Retirement Income Security Act of 1974 ("ERISA"). 5. CONTRIBUTIONS (SECTIONS 3.01 AND 3.02): Contributions must be remitted by the Employer. You may, with our agreement, (i) transfer to the Certificate any amount held under a contract or account that meets the requirements of Section [403(b)] of the Code ("Transferred Funds"), or (ii) roll over contributions from a contract or account that meets the requirements of Section [403(b)] or Section [408(d)(3)(A)(iii)] of the Code. If you make a transfer as described in (i) above, you must tell us the portion, if any, of the Transferred Funds which are (a) exempt from the payment restrictions described in Item 6 below and (b) eligible for delayed distribution under Item 8 below. If you do not tell us, then we will treat all such amounts as being subject to the applicable tax restrictions. Any Transferred Funds from a contract not issued by us will be reduced by the amount of any tax charge that applies, as we determine. Contributions to the Certificate are limited to your exclusion allowance for the year computed as required by Sections [403(b), 415, and 402(a)] of the Code. Unless this Certificate is purchased No. 96ENTSAIL Page 1 under an ERISA plan and "employer contributions" may be made, all contributions are made by your Employer under a salary reduction agreement you enter into with your Employer. Your salary reduction contributions are "elective deferrals" and cannot exceed the elective deferral limitation under Section [402(g)] of the Code which applies to this Certificate and all other plans, contracts or arrangements with your Employer. If Contributions to this Certificate inadvertently cause the excess deferral limit to be violated, such deferrals must be distributed by April 15 of the following calendar year, as described in Treasury Regulation Section [1.402(g) - 1(e).] (subject to a Withdrawal Charge, unless otherwise specified in the Certificate). If we are notified that any Contributions would cause this Certificate not to qualify under Section 403(b) of the Code, we reserve the right to either (i) refuse to accept any such Contributions or (ii) apply such Contributions to a nonqualified deferred annuity contract or certificate for the exclusive benefit of you and your beneficiaries. 6. RESTRICTIONS ON PAYMENTS (SECTIONS 5.01 AND 5.02): [No payments in violation of the limits provided in Section 403(b)(11) of the Code may be made with respect to salary reduction Contributions and earnings credited thereon, less any "grandfather amount" described below (these amounts are "Restricted Amounts"). Unless you have made Contributions to this Certificate through a transfer described in Item 5 and you have also provided our Processing Office in writing with a "grandfather amount," all amounts under this Certificate will be deemed attributable to salary reduction contributions made after December 31, 1988 and earnings credited thereon. A "grandfather amount" is your "403(b) arrangement" account balance as of December 31, 1988. ("403(b) arrangement" means any plan which qualifies under Section 403(b) of the Code.) Payments of Restricted Amounts may not be made until you reach age 59 1/2, separate from service, die, or become disabled. Payments of salary reduction Contributions (but not any earnings credited thereon) may also be made in the case of hardship. A request for a withdrawal of Restricted Amounts on the grounds of disability or hardship as defined in the Code must be sent with proof acceptable to us of such condition. (For this purpose, disability is defined in Section 72(m)(7) of the Code and hardship is defined in Section 403(b)(11) of the Code. We reserve the right to limit transfers of Cash Value, up to the amount of any Loan Reserve Account under your Certificate, to another 403(b) arrangement while you have an outstanding loan as described in Item 10 of this Endorsement.] 7. DIRECT ROLLOVER OPTION: You (or a beneficiary under Section 6.02 of this Certificate who is your surviving spouse) may elect to have all or any portion of your Cash Value (or Death Benefit) paid directly to another "eligible retirement plan" in a "direct rollover transaction" as these terms are defined in Sections [403(b) and 402(c)] of the Code. In order to elect this option all of the following requirements must be met.: (a) The recipient of the distribution must be an eligible retirement plan maintained for your benefit (or for your spousal beneficiary). In your case, both an individual retirement arrangement ("IRA") under Section 408 of the Code or another 403(b) arrangement is an eligible retirement plan. In the case of a spousal beneficiary, only an IRA qualifies as an eligible retirement plan which may receive a direct rollover. (b) The distribution must not include any after-tax contributions under this Certificate. No. 96ENTSAIL Page 2 (c) The direct rollover option is not available to the extent that a minimum distribution is required under [Section 401(a)(9) of the Code] (see Item 8, below). We reserve the right to determine the amount of the required minimum distribution. If you have elected a payment option in Part VII of this Certificate which is either paying substantially equal periodic payments for a period of ten years or more, or a life annuity, the direct rollover option does not apply to those same funds. 8. REQUIRED MINIMUM DISTRIBUTIONS: ["Required Minimum Distribution" payments for this Certificate must be computed for the calendar year you turn age 70-1/2 and for each year thereafter. The Required Minimum Distribution payments you compute must start no later than April 1 of the calendar year after you turn age 70-1/2, except as otherwise noted in this Item 8. If you have Transferred Funds described in Item 5 of this Endorsement, payments of the amount of your December 31, 1986 account balance transferred to this Certificate must begin by age 75 or, if later, your separation from service. You compute the Required Minimum Distribution payment for this Certificate every year based on the method you choose. (We are not required to compute your Required Minimum Distribution). Your Required Minimum Distribution payment may be computed under any of the methods permitted under Section [401(a)(9)] of the Code and applicable Treasury Regulations, and payments must be made as required by those rules, including "incidental death benefit" rules. The Required Minimum Distribution rules are designed so that the amount of your Annuity Account Value will be paid out over your life or life expectancy or over the joint lives or joint life expectancies of you and your named beneficiary. Life expectancy is computed by use of the expected return multiples in Tables V and VI of Treasury Regulation Section 1.72-9, or any other table prescribed by the Internal Revenue Service. You may choose to recalculate your life expectancy annually. If your spouse is your named beneficiary, you may also choose to recalculate your spouse's life expectancy. You may not recalculate the life expectancy of a beneficiary who is not a spouse. Payments of your annual Required Minimum Distribution calculated for this Certificate may be made from this Certificate or from another 403(b) arrangement that you maintain, if permitted by Internal Revenue Service rules. If you die after Required Minimum Distribution payments have begun, the remaining amount of your Annuity Account Value must continue to be paid at least as quickly as under the calculation and payment method being used before your death. If you die before Required Minimum Distribution payments begin, payment of your Annuity Account Value must be completed no later than December 31 of the calendar year in which the fifth anniversary of your death occurs, except to the extent that a choice is made to receive death benefit payments under (a) and (b) below: (a) If payments are to be made to a beneficiary, then the Annuity Account Value may be paid over the life or life expectancy of the named beneficiary. Such payments must begin on or before December 31 of the calendar year which follows the year of your death. (b) If the named beneficiary is your spouse, the date that payments must begin under (a) above will not be before (i) December 31 of the calendar year which follows the year of your death or, if later, (ii) December 31 of the calendar year in which you would have reached age 70-1/2.] No. 96ENTSAIL Page 3 9. SPOUSAL ANNUITY AND CONSENT RULES: This Item 9 applies only if an ERISA Plan applies. [If you are married, payments will be made in the form of a qualified Joint and Survivor Annuity as defined in Section 417(b) of the Code. If you are not married, payments will be made in the form of a Life Annuity (as described in Section 7.02 of this Certificate), unless you elect otherwise as described in this item. If you are married and die before payments have begun, payments will be made to your surviving spouse in the form of a Life Annuity unless at the time of your death there was a contrary election made pursuant to this Item. However, your surviving spouse may elect, before payment is to commence, to have payment made in any form permitted under the terms of the Contract and the Plan. You may elect pursuant to the Plan and ERISA not to have payments made in the form of a qualified Joint or Survivor annuity or Life Annuity as the case may be. In that case it will be paid in any other form elected under the terms of the Contract and the Plan. If payments are to be made to your spouse upon your death, your spouse may elect in accordance with the Plan and ERISA for a beneficiary other than the spouse to receive payments. If you will not attain age 35 by the end of the current Plan year, you may make a special election to name a beneficiary other than the spouse to receive payment of the value of your interest. Such election will be effective for the period beginning on the date of such election and ending on the first day of the Plan year in which you will attain age 35. The elections will cease to be effective as of the first day of the Plan year in which you attain age 35 unless a new election naming a beneficiary other than the spouse is made pursuant to the terms of this Item 9. Any such election must be consented to by your spouse, if applicable, in writing before a notary or a representative of the Plan and must be limited to a benefit for a specific alternate beneficiary. However, no spousal consent will be required if you can prove to the satisfaction of the Employer and us, that you have no spouse or that you cannot locate the spouse. Also, if you have become legally separated from the spouse or have been abandoned (within the meaning of local law) and have a court order to such effect, spousal consent is not required unless a qualified domestic relations order provide otherwise. Each election to designate a beneficiary other than your spouse must be consented to by your spouse and any election made under this paragraph to waive the spouse's benefits may be revoked without the consent of the spouse at any time prior to the date as of which payments commence. Any consent to waive the spouse's benefits will be valid only with regard to the spouse who signs it. Any new waiver or change of beneficiary will require new spousal consent. The provisions requiring spousal consent in this item will also apply with regard to your election to take any in-service withdrawal under the terms of the Plan and will also apply to withdrawals for loans as described in Item 10 below. A spouse's written consent, witnessed by a representative of the Plan or a notary, must be given on a form acceptable to the Employer and us, in accordance with the Plan and ERISA, prior to any such withdrawal or loan, unless you can show that there is no spouse or that the spouse cannot be located.] If the Annuity Account Value applied to provide the spousal benefits on the date payment is to commence is in the aggregate less than [$3,500], you may choose to make payment in a single sum rather than in the form of a qualified Joint and Survivor Annuity or Life Annuity as described herein. Upon any payment made pursuant to this item, we will be released from any and all liability for payment with respect to the Annuity Account Value. 10. LOANS: No. 96ENTSAIL Page 4 A. GENERAL: You may request a loan, subject to the terms of this Item 10. Your loan is subject to the terms of the Plan, if applicable, and the Code. Future restrictions in the Code may require changes in the terms and availability of loans. We reserve the right not to permit a new loan if you have previously defaulted on a loan and have not repaid the amount due. A loan is effective on the date we specify, according to our then current procedures, after we approve your Loan Request Form. Your Loan Request Form together with your loan confirmation notice will be your loan agreement and will contain all the terms of the loan which apply, including amount of the loan, interest rate and the payment due. Only one outstanding loan is permitted at a time under this Certificate. B. LOAN AMOUNT: The minimum loan amount will be stated on the Loan Request Form. In no event will the minimum amount of a loan be less than [$1000]. The maximum amount of a loan will be determined as described in the next paragraph subject in all cases only to the maximum amount which may be described in the Code. As a condition for making a loan, we will require you to state that the loan amount requested, together with loans (principal plus interest) from all other plans of your Employer, does not exceed the maximum amount permitted under the Code. The amount of the loan may not be more than the lesser of (A) or (B) below: (A) [$50,000,] less the highest outstanding balance of loans under any plan of your Employer during the one-year-period ending the day before the Loan Effective Date, over the outstanding balance of loans under any plan of your Employer on the Loan Effective Date. (B) the greater of (i) one half the present value of your nonforfeitable accrued benefit under all plans of your Employer or (ii) [$10,000.] C. LOAN TERM: The loan term will be [five years.] If you state on the Loan Request Form that the purpose of the loan is to purchase your principal residence, your loan term will be [ten years.] Repayment of the loan may be accelerated and full repayment of unpaid principal and interest will be required upon the earliest of (i) the election and commencement of Annuity Benefits under Section 7.03 of the Certificate, (ii) the date the Certificate terminates pursuant to Section 5.02, (iii) the date we pay a death benefit pursuant to Section 6.01 of the Certificate, or (iv) any date where we determine the Code requires acceleration of the loan repayment so that the Federal income tax status of your TSA Certificate is not adversely affected. D. LOAN RESERVE ACCOUNT: On the Loan Effective Date, we will transfer to a loan reserve account an amount equal to the sum of (i) the loan amount, which will earn interest at the "Loan Reserve Account Rate" during the loan term and (ii) 25% of the loan amount, which will earn interest at the Guaranteed Interest Rate, as defined in the Certificate. You may not make any partial No. 96ENTSAIL Page 5 withdrawals or transfers from the Loan Reserve Account until after repayment. You may specify on your Loan Request Form from which Investment Option(s) the Loan Reserve Account will be funded. The "Loan Reserve Account Rate" will equal the loan interest rate (see item 3 below) minus [2%], or such other percentage which is determined according to our then current procedures and which is not greater than permitted under any current applicable state or federal law. E. LOAN INTEREST RATE: (i) This item (I) applies to your TSA Certificate if an ERISA Plan does not apply. We will from time to time set the effective annual rate at which interest on a loan will accrue daily (the "loan interest rate"). Such rate will be not greater than any maximum rate required under any current applicable state or federal law. (ii) This item (ii) applies if an ERISA Plan applies to your TSA Certificate. We will from time to time determine the loan interest rate at which interest on a loan will accrue daily; however, if requested by the Employer, we will substitute the rate requested by the Employer, subject to any limitations imposed by law. The rate so determined by us will be a reasonable rate set in accordance with [Department of Labor Regulations 255.408b-1(e),] and will be based on prevailing rates available at the date of determination on loans charged by persons in the business of lending money for loans which would be made under similar circumstances. F. REPAYMENTS: The loan must be repaid according to the repayment schedule, which will require that substantially level amortization payments of principal and interest be made no less frequently than quarterly, unless otherwise required or permitted by law. The rate so determined by us will be a reasonable rate set in accordance with [Department of Labor Regulation 2550.408b-1(e),] and will be based on prevailing rates available at the date of determination on loans charged by persons in the business of lending money for loans which would be made under similar circumstances. G. DEFAULT: By each due date (or a specified date thereafter according to our then current procedures) if the amount of the loan payment is less than the amount due or the loan payment is not received at our Processing Office we will deduct and treat as a partial withdrawal from the loan reserve account an amount equal to the interest and principal payments due. We reserve the right, however, to change our procedures at any time (subject to the terms of the Code) so that the amount of the unpaid balance of the loan at that time, including interest due but not paid, will be treated as a deemed distribution for Federal income tax purposes. If the amount in the loan reserve account is not subject to the restrictions described in Item 6 of this Endorsement,on your default we reserve the right to deduct from the loan reserve account an amount equal to the interest and principal payments due. We also reserve the right to deduct any Withdrawal Charges that apply and any required tax withholding. No. 96ENTSAIL Page 6 If the amount in the loan reserve account is not subject to the restrictions described in Item 6 of this Endorsement, on your default we will designate in the loan reserve account an amount equal to the unpaid balance (interest and principal payments due) at the time of the default. When your Certificate is no longer subject to the withdrawal restrictions of Item 6, we will have the right to foreclose on this amount, and deduct any Withdrawal Charges that would have applied at the time of the default, plus any interest due, and any required tax withholding. This will be no later than the date you attain age 59-1/2 or we are notified in writing that another event has occurred which would permit Restricted Amounts to be paid. (Such an event includes separation from service, disability or death.) H. CHANGES: We have the right to change the loan terms, as long as any such change is made to maintain compliance with the terms of any law that applies to the TSA Certificate. 11. ASSIGNMENTS (SECTION 9.05): No amount to be paid under the Certificate may be assigned, commuted, or encumbered by the payee. To the extent permitted by law, no such amount will in any way be subject to any legal process to subject the same to the payment of any claim against such payee. The foregoing will not apply to any assignment, transfer or attachment pursuant to a qualified domestic relations order as defined in section [414(p)] of the Code. No interest under the Certificate may be transferred to any persons others than us upon surrender of such interest. No. 96ENTSAIL Page 7 [Page 8 to TSA Endorsement] [To be added for Certificates issued to participants in the Texas Optional Retirement Program] [Notwithstanding any provisions in this Certificate or the Contract to the contrary, the following restrictions apply, pursuant to Texas law, if you are a participant in the Texas Optional Retirement Program (TORP). 1. Withdrawals are available under TORP only after one of the following occurs: a. the requirements for minimum distribution under Section 403(b)(10) of the Code, as described in Item 8 of this Endorsement, are met; or b. termination of participation due to death, retirement or termination of employment in all Texas public institutions of higher education, as defined under Texas law. 2. Benefits in TORP vest after one year of participation. If you die, retire or terminate your employment in all Texas public institutions of higher education before being vested, any amounts provided by your employer's first-year matching contribution will be refunded to the employer. 3. Withdrawals under TORP cannot be made until we receive a written statement from your employer verifying your vesting status and that you are no longer a participant under TORP. 4. We reserve the right to change these provisions without your consent, but only to the extent necessary to maintain compliance with the laws and regulations applicable to TORP. 5. No loans are available under TORP. 6. We are responsible for qualified domestic relations orders.] No. 96ENTSAIL Page 8 This Certificate is hereby amended, effective as of its issue date, by adding the attached TABLE OF GUARANTEED ANNUITY PAYMENTS as part of the Certificate. THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES /s/ James M. Benson /s/ Pauline Sherman President and Chief Executive Officer Vice President, Secretary and Associate General Counsel No. RD941CTSA TABLE OF GUARANTEED ANNUITY PAYMENTS [APPLICABLE TO CERTIFICATES OTHER THAN IRA AND NON-QUALIFIED] Amount of Annuity Benefit payable monthly on the Joint and Survivor Life Annuity form (with 100% of the amount of the Annuitant's payment continued to the Annuitant's spouse) provided by an application of $1,000. [Age 60 61 62 63 64 65 66 67 68 69 70 60 3.32 3.35 3.37 3.40 3.42 3.44 3.46 3.48 3.50 3.52 3.54 61 3.37 3.40 3.42 3.45 3.47 3.50 3.52 3.54 3.56 3.58 62 3.43 3.45 3.48 3.50 3.53 3.55 3.58 3.60 3.62 63 3.48 3.51 3.54 3.56 3.59 3.62 3.64 3.67 64 3.54 3.57 3.60 3.63 3.65 3.68 3.71 65 3.60 3.63 3.66 3.69 3.72 3.75 66 3.66 3.70 3.73 3.76 3.79 67 3.73 3.77 3.80 3.83 68 3.80 3.84 3.88 69 3.88 3.92 70 3.96
The amount of income provided under an Annuity Benefit payable on the Joint and Survivor Life Annuity form is based on 2.5% interest and the 1983 Individual Annuity Mortality Table "a" projected with modified Scale G, adjusted to a unisex basis, reflecting a 20% - 80% split of males and females at pivotal age 55. Amounts required for ages not shown in the above Table or for other annuity forms will be calculated by Equitable on the same actuarial basis. If a variable annuity form is available from Equitable and elected pursuant to Section 7.02, then the amounts required will be calculated by us based on the 1983 Individual Annuity Mortality Table "a" projected with modified Scale "G" and a modified two year age setback and a 20% - 80% split of males and females at age 55 and on an Assumed Base Rate of Net Investment Return of 3.5%/5.0%.] No. 94IC EX-99.4MDATA 4 STANDARD ROTH IRA DATA PAGES Part A -- This part lists your personal data Owner: Annuitant: Certificate Number: Endorsement Attached: No. 94ENMVAI No. 94ENIRAI 98ROTH Issue Date: Contract Date: Annuity Commencement Date: The maximum maturity age is 90--see section 7.03 Beneficiary: Contract: Group Annuity Contract No. 6727 NO. 94ICA DATA PAGE 1 PART B (CONT'D.) THIS PART LISTS THE CONTRACT TERMS WHICH AFFECT THE TYPE OF CONTRACT YOU HAVE. Initial Guaranteed Interest Rate: Minimum Guaranteed Interest Rate: Investment Options available (see Part II); your allocation percentage (until changed) is also shown: Investment Option Type* Allocation Percentage** - ------------------------------------------------------------------------------------------------------------------------------ HRT FUNDS: Alliance Common Stock Fund Type A Alliance Balanced Fund Type A Alliance Aggressive Stock Fund Type A Alliance Global Fund Type A Alliance Growth Investors Fund Type A Alliance Growth and Income Fund Type A Alliance Equity Index Fund Type A Alliance International Fund Type A Alliance Small Cap Growth Fund Type A Alliance Conservative Investors Fund Type B Alliance High Yield Fund Type B Alliance Intermediate Government Securities Fund Type B Alliance Money Market Fund Type B Alliance Quality Bond Fund Type B EQ ADVISOR TRUST FUNDS: T. Rowe Price International Stock Fund Type A T. Rowe Price Equity Income Fund Type A EQ/Putnam Growth & Income Value Fund Type A EQ/Putnam Balanced Fund Type A MFS Research Fund Type A MFS Emerging Growth Companies Fund Type A Morgan Stanley Emerging Markets Equity Fund Type A Warburg Pincus Small Company Value Fund Type A Merrill Lynch World Strategy Fund Type A Merrill Lynch Basic Value Equity Fund Type A GENERAL ACCOUNT FUND: Guaranteed Interest Account N/A FIXED MATURITY ACCOUNT: Guarantee Periods*** Type B
Expiration Date and Guaranteed Rate * All Type A and B Funds are Investment Funds of Separate Account A, except for the Fixed Maturity Account which is Separate Account No. 46. ** See Section 3.01 *** Guarantee Periods are offered with varying expiration dates spanning an approximate 10 year period. We reserve the right to limit the availability of Investment Options to not less than four investment funds as described in Section 2.04. NO. 94ICA DATA PAGE 3 PROCESSING DATES (SEE SECTION 1.20): A Processing Date is generally the last business day of each Contract Year, but may be any other date on which a fee is deducted from the Annuity Account Value in accordance with Section 8.02. CONTRIBUTION LIMITS (SEE SECTION 3.02): In addition to the maximum limits set by law as described in the endorsement hereto, we may refuse to accept any Contribution which is less than $50. TRANSFER RULES (SEE SECTION 4.02): If you have elected the Guaranteed Interest Account and any Type B Investment Option, whether or not amounts have actually been placed in any such Option, then the maximum amount which may be transferred from the Guaranteed Interest Account to any other Investment Option in any Contract Year is: o (a) 25% of the amount you have in the Guaranteed Interest Account on the last day of the prior Contract Year or, if greater, o (b) the total of all amounts transferred at your request from the Guaranteed Interest Account to any of the other Investment Options in the prior Contract Year. MINIMUM TRANSFER AMOUNT (SEE SECTION 4.02): $300 or the Annuity Account Value if less. TRANSFER CHARGES - NUMBER OF FREE TRANSFERS IN A CONTRACT YEAR (SEE SECTION 4.02): Unlimited. We will deduct a $25 charge per occurrence for a direct transfer to a third party of amounts under your Contract or an exchange for another contract of another carrier. MINIMUM AMOUNT OF ANNUITY ACCOUNT VALUE AFTER A WITHDRAWAL (SEE SECTION 5.02(a)): $500. DEATH BENEFIT AMOUNT (SEE SECTION 6.01) -- SUBJECT TO THE TERMS, IF ANY, IN THE ENDORSEMENT CONCERNING A SUCCESSOR ANNUITANT AND OWNER: The Annuity Account Value or, if greater, the sum of all Contributions made, less o any tax charge that applies and o the sum of all prior withdrawals. NO. 94ICA DATA PAGE 4 NORMAL FORM OF ANNUITY (SEE SECTION 7.02): Joint and Survivor Life Annuity Form. MINIMUM AMOUNT TO BE APPLIED FOR AN ANNUITY (SEE SECTION 7.06): $2,000, as well as minimum of $20 for initial annuity payment. INTEREST RATE TO BE APPLIED FOR MISSTATEMENT OF AGE OR SEX (SEE SECTION 7.06): 6% per year. WITHDRAWAL CHARGE (SEE SECTION 8.01): 6% of Contributions withdrawn, which were made in the current and 5 prior Contract Years. The amount of this Charge is subject to change for future Contributions; however, the amount will not exceed 8% of Contributions withdrawn. The first-in, first-out basis described in Section 8.01 applies. FREE CORRIDOR AMOUNT (SEE SECTION 8.01): 10% of Annuity Account Value on the Transaction Date minus withdrawals made in the current Contract Year. NO WITHDRAWAL CHARGES WILL APPLY IN THESE EVENTS: 1. the Annuitant has completed at least 6 Contract Years and has attained age 59 1/2; 2. the Annuitant dies and a death benefit is payable to the beneficiary; 3. the receipt by us of a properly completed election form providing for the Annuity Account Value to be used to buy a life annuity as described in Section 7.03; 4. in the event any of these conditions apply: a. the Annuitant has qualified to receive Social Security disability benefits as certified by the Social Security Administration; b. you give us proof that the Annuitant's life expectancy is six months or less (such proof must include, but is not limited to, certification by a licensed physician); c. the Annuitant has been confined to a nursing home for more than 90 days as verified by a licensed physician. A nursing home for this purpose means one which is (i) approved by Medicare as a provider of skilled nursing care service, or NO. 94ICA DATA PAGE 5 (ii) licensed as a skilled nursing home by the state or territory in which it is located (it must be within the United States, Puerto Rico, U.S. Virgin Islands, or Guam and meets all of the following: o its main function is to provide skilled, intermediate or custodial nursing care; o it provides continuous room and board to three or more persons; o it is supervised by a registered nurse or practical nurse; o it keeps daily medical records of each patient; o it controls and records all medications dispensed; and o its primary service is other than to provide housing for residents. The withdrawal charge will apply with respect to a Contribution if the Condition as described in this item (4) existed at the time the Contribution was remitted or if the condition began within the 12 month period following remittance. 5. request is made for a refund of a contribution in excess of amounts allowed to be contributed under Section 408 of the Code within one month of the date on which the contribution is made. ADMINISTRATIVE AND OTHER CHARGES DEDUCTED FROM ANNUITY ACCOUNT VALUE (SEE SECTION 8.02): The lesser of $30 or 2% of the Annuity Account Value including the amount of any withdrawals pursuant to Section 5.01 made during that year for the first two Contract Years, and $30 for each Contract year thereafter. This amount may be increased to a maximum of $65 in accordance with Section 8.02. It will be withdrawn from the Investment Options on a pro-rata basis unless you designate otherwise. No Administrative Charge will apply if the Annuity Account Value is more than $20,000. Premium taxes are generally incurred at annuitization and a charge for such taxes will then be deducted from the Annuity Account Value. Some jurisdictions impose a premium tax at the time each Contribution is made. If withdrawals are made as described in Section 5.01 prior to the Annuity Commencement Date, any applicable tax charges we have paid with respect to your Certificate will be deducted. If we have previously deducted charges for applicable taxes from Contributions, we will not again deduct charges for the same taxes on withdrawals on withdrawals, unless a change in applicable law has occurred. DAILY SEPARATE ACCOUNT CHARGE (SEE SECTION 8.04): 1.35%; this is subject to change as described in Sections 8.04 and 8.05, subject to a maximum of 2.00%. This Charge is for financial accounting and for death benefits, mortality risk expenses and expense risk that we assume. NO. 94ICA DATA PAGE 6 PART C - THIS PART LISTS THE TERMS WHICH APPLY TO THE MARKET VALUE ADJUSTMENT TERMS ENDORSEMENT. DEATH BENEFIT AMOUNT: The larger of (a) the Annuity Account Value in Separate Account No. 48 and (b) the Guaranteed Period Amount. TRANSFER RULES (SEE SECTION 4.02): The minimum amount which may be transferred from the Guaranteed Period Amount, after the initial allocation, is $300 or the Guaranteed Period Amount, if less. Transfers at Expiration Date (see item 1 of Endorsement): if no election is made with respect to amounts in the Guaranteed Period Account as of the Expiration Date, such amounts will be transferred into the Money Market Fund. MVA FORMULA (SEE ITEM 3 OF ENDORSEMENT): The current rate percentage we use in item (c) of the formula is a maximum of 0.50%. If we are no longer offering new Guarantee Periods, we will use a rate equal to the most recent Moody's Corporate Bond Yield Average - Monthly Average Corporates, for the duration required, as published by Moody's Investor Services, Inc. If such Moody's rate is not available, a rate based on a substantially similar average will be used. NO. 94ICA DATA PAGE 7 EX-99.4NENDORSE 5 STANDARD ROTH IRA ENDORSEMENT THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES This Certificate is hereby amended, effective as of its Issue Date, in order that the terms of the attached "Roth IRA Endorsement" will apply, notwithstanding any terms to the contrary contained in this Certificate. NEW YORK, THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES /s/ Edward Miller /s/ Pauline Sherman Chairman and Chief Executive Officer Vice President, Secretary and Associate General Counsel NO. 98ROTH "ROTH IRA ENDORSEMENT" Endorsement Applicable to Roth IRA Certificates When issued with this Endorsement, this Certificate is a "Roth IRA Certificate" which is issued as an individual retirement annuity contract which meets the requirements of Sections 408A and 408(b) of the Code. It is established for the exclusive benefit of you and your beneficiaries, and the terms below change, or are added to, the applicable provisions of this Certificate. Also your entire interest under the Certificate is not forfeitable. I. DEFINITIONS ----------- The following apply in addition to or in lieu of corresponding definitions in the Certificate. ANNUITANT. You must be both the Annuitant and the Owner. ANNUITY COMMENCEMENT DATE. You may not choose an Annuity Commencement Date later than our maximum maturity age (currently age 90, unless a different age is required by State law), and any period certain you select must conform to IRS life expectancy tables in Treasury Regulations Section 1.72-9. CODE. When used in this Endorsement references to the Code include references to applicable tax Regulations. CONTRIBUTIONS. Contributions are subject to the limits of Section 408A of the Code. OWNER. The Annuitant is the Owner of the Certificate and cannot be changed. II. LIMITS ON CONTRIBUTIONS ----------------------- No Contributions will be accepted unless they are in United States cash (including checks). We reserve the right to accept electronic cash which meets our specifications. Except in the case of a rollover or direct transfer Contribution discussed below which meets the requirements of Section 408A of the Code, the total of your Contributions will not exceed the maximum total under Section 408A(c)(2) of the Code for any taxable year. A "rollover contribution" is one permitted by Section 408A(e) and 408(d)(3) of the Code. Roth IRA to Roth IRA Rollover Contributions. You may make a qualified rollover contribution as permitted by Sections 408A(e) and 408(d) of the code from another Roth IRA. There are no limits on the amount rolled over; however, you may be required to designate the taxable year in which you converted any non-Roth IRA funds into Roth IRA funds. Direct Transfer Contributions. You may make a Contribution of a direct transfer of funds from another Roth IRA under Section 408A of the code. There are no limits on the amount transferred; however, you may be required to designate the taxable year in which you converted any non-Roth IRA funds into Roth IRA funds. Non-Roth IRA to Roth IRA Rollover Contributions ("Conversion Contributions"). If you meet the modified adjusted gross income limits specified in Section 408A, you may make a qualified rollover contribution as permitted by Section 408A(c)(3)(B) of the Code and Sections 408A(e) and 408(d)(3) of the Code from another individual retirement plan under Section 408 of the Code which is not a Roth IRA. There are no limits on the amounts rolled over. We reserve the right to require you to designate the year to which such a conversion of non-Roth IRA funds applies. Rollovers are not permitted from SEP-IRAs under Section 408(k) of the Code or SIMPLE IRAs under Section 408(p) of the Code. NO. 98ROTH If we determine that any Contributions would cause this Certificate not to qualify under Sections 408A or 408(b) of the Code, we reserve the right to either (i) refuse to accept any such Contributions or (ii) apply such Contributions to a nonqualified deferred annuity contract or certificate for the exclusive benefit of you and your beneficiaries. III. DEATH BENEFITS -------------- Under the following circumstances, the death benefit described in this Certificate will not be paid at your death before the Annuity Commencement Date, and the coverage under the Certificate will continue with your surviving spouse as Successor Owner and Annuitant. 1. You are married at your death. 2. The person named as death beneficiary is your surviving spouse. 3. You or your spouse at your death have additionally requested, in accordance with our procedures then in effect, that your spouse become "Successor Owner and Annuitant" of your Certificate-if your spouse survives you. MINIMUM DISTRIBUTION RULES - DEATH BENEFIT. This Certificate is subject to these "Required Payment" or "Minimum Distribution" rules of Section 408(b) and 401(a)(9) of the Code and the Treasury Regulations which apply. If you die after distribution of your interest in this Certificate has begun, the remaining portion of such interest will continue to be distributed at least as rapidly as under the method of distribution being used prior to your death. If you die after distribution of your interest in this Certificate begins, distribution of your entire interest shall be completed no later than December 31 of the calendar year containing the fifth anniversary of your death, except to the extent that an election is made to receive death benefit distributions in accordance with (1) or (2) below: (1) If your interest is payable to a designated beneficiary, then your entire interest may be distributed over the life of, or over a period certain not greater than the life expectancy of, the designated beneficiary. Such distributions must commence on or before December 31 of the calendar year immediately following the calendar year of your death. (2) If the designated beneficiary is your surviving spouse, the date that distributions are required to begin in accordance with (1) above shall not be earlier than the later of (a) December 31 of the calendar year immediately following the calendar year of your death or (b) December 31 of the calendar year in which you would have attained age 70 1/2. If the designated beneficiary is your surviving spouse, and a Successor Annuitant and Owner option (described above in this Endorsement under DEATH BENEFITS) is in effect, the distribution of your interest need not be made until after your spouse's death. For purposes of determining the "period certain" referred to above, life expectancy is computed by use of the expected return multiples in Tables V and VI of Treasury Regulation Section 1.79-9. For purposes of distributions beginning after your death, unless otherwise elected by the surviving spouse by the time distributions are required to begin, life expectancies shall be recalculated annually. Such election shall be irrevocable by the surviving spouse and shall apply to all subsequent years. In the case of any other designated beneficiary, life expectancies shall be calculated using the attained age of such beneficiary during the calendar year in which distributions are required to begin, pursuant to this Item, and payments for any subsequent calendar year shall be calculated based on such life expectancy reduced by one for each calendar year which has elapsed since the calendar year life expectancy was first calculated. NO. 98ROTH Distributions under this Item are considered to have begun if distributions irrevocably commence to you over a period permitted and in any annuity form acceptable under Section 1.40(a)(9)-1 of the Proposed Treasury Regulations or any successor Regulation thereto. IV. ANNUITY BENEFITS ---------------- This Certificate will begin to pay out as an Annuity for your life on the Annuity Commencement Date you select on the application unless you indicate to us another form of payment before such payments commence. If you or your beneficiary (as described in Item III above) selects a period certain form of payment, no period certain can be longer than applicable life expectancy under IRS tables in Treasury Regulations Section 1.72-9. V. GENERAL PROVISIONS ------------------ TERMINATION OF CERTIFICATE If this Certificate fails to qualify as a Roth individual retirement annuity under Sections 408A and 408(b) of the Code, we will have the right to terminate the Certificate. We may do so, upon receipt of notice of such fact, before the Annuity Commencement Date. In that case, we have the right to pay the Annuity Account Value less a deduction for the part which applies to any Federal income tax payable by you which would not have been payable with respect to a Roth individual retirement annuity which meets the terms of Sections 408A and 408(b) of the Code. REPORTS AND NOTICES We will send you a report as of the end of each calendar year showing the status of the Certificate and any other reports required by the Code. ASSIGNMENTS, NONTRANSFERABILITY, NONFORFEITABILITY Your rights under this Certificate may not be assigned, pledged or transferred except as permitted by law. You may not name a new Owner, except as described in this Endorsement in relation to DEATH BENEFITS. NO. 98ROTH EX-99.4O 6 ROTH ADVANTAGE DATA PAGES Part A - This part lists your personal data Owner: Annuitant: Certificate Number: Endorsements Attached: No. 94ENMVAI No. 94ENIRAI 98ROTH Issue Date: Contract Date: Annuity Commencement Date: The maximum maturity age is 90 -- see section 7.03 Beneficiary: Contract: Group Annuity Contract No. 6727 No. 94ICA DATA PAGE 1 PART B (CONT'D.) THIS PART LISTS THE CONTRACT TERMS WHICH AFFERT THE TYPE OF CONTRACT YOU HAVE. Initial Guaranteed Interest Rate: Minimum Guaranteed Interest Rate: Investment Options available (see Part II); your allocation percentage (until changed) is also shown:
Investment Option Type* Allocation Percentage** - ---------------------------------------------------------------------------------------------------- HRT FUNDS: Alliance Common Stock Fund Type A Alliance Balanced Fund Type A Alliance Aggressive Stock Fund Type A Alliance Global Fund Type A Alliance Growth Investors Fund Type A Alliance Growth and Income Fund Type A Alliance Equity Index Fund Type A Alliance International Fund Type A Alliance Small Cap Growth Fund Type A Alliance Conservative Investors Fund Type B Alliance High Yield Fund Type B Alliance Intermediate Government Securities Fund Type B Alliance Money Market Fund Type B Alliance Quality Bond Fund Type B EQ ADVISOR TRUST FUNDS: T. Rowe Price International Stock Fund Type A T. Rowe Price Equity Income Fund Type A EQ/Putnam Growth & Income Value Fund Type A EQ/Putnam Balanced Fund Type A MFS Research Fund Type A MFS Emerging Growth Companies Fund Type A Morgan Stanley Emerging Markets Equity Fund Type A Warbug Pincus Small Company Value Fund Type A Merrill Lynch World Strategy Fund Type A Merrill Lynch Basic Value Equity Fund Type A GENERAL ACCOUNT FUND: Guaranteed Interest Account N/A FIXED MATURITY ACCOUNT: Guarantee Periods*** Expiration Date and Guaranteed Rate Type B
* All Type A and B Funds are Investment Funds of Separate Account A, except for the Fixed Maturity Account which is Separate Account No. 46 ** See Section 3.01 *** Guarantee Periods are offered with varying expiration dates spanning an approximate 10 year period. We reserve the right to limit the availability of Investment Options to not less than four investment funds as described in Section 2.04. No. 94ICA DATA PAGE 3 PROCESSING DATES (SEE SECTION 1.20): A Processing Date is generally the last business day of each Contract Year, but may be any other date on which a fee is deducted from the Annuity Account Value in accordance with Section 8.02. CONTRIBUTION LIMITS (SEE SECTION 3.02): In addition to the maximum limits set by law as described in the endorsement hereto, we may refuse to accept any Contribution which is less than $50. TRANSFER RULES (SEE SECTION 4.02): If you have elected the Guaranteed Interest Account and any Type B Investment Option, whether or not amounts have actually been placed in any such Option, then the maximum amount which may be transferred from the Guaranteed Interest Account to any other Investment Option in any Contract Year is: o (a) 25% of the amount you have in the Guaranteed Interest Account on the last day of the prior Contract Year or, if greater, o (b) the total of all amounts transferred at your request from the Guaranteed Interest Account to any of the other Investment Options in the prior Contract Year. MINIMUM TRANSFER AMOUNT (SEE SECTION 4.02): $300 or the Annuity Account Value if less. TRANSFER CHARGES - NUMBER OF FREE TRANSFERS IN A CONTRACT YEAR (SEE SECTION 4.02): Unlimited We will deduct a $25 charge per occurrence for a direct transfer to a third party of amounts under your Contract or an exchange for another contract of another carrier. MINIMUM AMOUNT OF ANNUITY ACCOUNT VALUE AFTER A WITHDRAWAL (SEE SECTION 5.02(A)): $500 DEATH BENEFIT AMOUNT (SEE SECTION 6.01) -- SUBJECT TO THE TERMS, IF ANY, IN THE ENDORSEMENT CONCERNING A SUCCESSOR ANNUITANT AND OWNER: The Annuity Account Value or, if greater, the sum of all Contributions made, less o any tax charge that applies and o the sum of all prior withdrawals No. 94ICA DATA PAGE 4 NORMAL FORM OF ANNUITY (SEE SECTION 7.02): Joint and Survivor Life Annuity Form MINIMUM AMOUNT TO BE APPLIED FOR AN ANNUITY (SEE SECTION 7.06): $2,000, as well as minimum of $20 for initial annuity payment. INTEREST RATE TO BE APPLIED FOR MISSTATEMENT OF AGE OR SEX (SEE SECTION 7.06) 6% per year. WITHDRAWAL CHARGE (SEE SECTION 8.01): 6% of Contributions withdrawn, which were made in the current and 5 prior Contract Years. The amount of this Charge is subject to change for future Contributions; however, the amount will not exceed 8% of Contributions withdrawn, nor will it apply to Contributions made earlier than the 12 Contract Years which precede the date of withdrawal. The first-in, first-out basis described in Section 8.01 applies. FREE CORRIDOR AMOUNT (SEE SECTION 8.01): 10% of Annuity Account Value on the Transaction Date minus withdrawals made in the current Contract Year. NO WITHDRAWAL CHARGES WILL APPLY IN THESE EVENTS: 1. the Annuitant has completed at least 5 Contract Years and has attained age 59 1/2; 2. the Annuitant dies and a death benefit is payable to the beneficiary; 3. the receipt by us of a properly completed election form providing for the Annuity Account Value to be used to buy a life annuity as described in Section 7.03; 4. in the event any of these conditions apply: a. the Annuitant has qualified to receive Social Security disability benefits as certified by the Social Security Administration; b. you give us proof that the Annuitant's life expectancy is six months or less (such proof must include, but is not limited to, certification by a licensed physician); c. the Annuitant has been confined to a nursing home for more than 90 days as verified by a licensed physician. A nursing home for this purpose means one which is (i) approved by Medicare as a provider of skilled nursing care service, or No. 94ICA DATA PAGE 5 (ii) licensed as a skilled nursing home by the state or territory in which it is located (it must be within the United States, Puerto Rico, U.S. Virgin Islands, or Guam and meets all of the following: o its main function is to provide skilled, intermediate or custodial nursing care; o it provides continuous room and board to three or more persons; o it is supervised by a registered nurse or practical nurse; o it keeps daily medical records of each patient; o it controls and records all medications dispensed; and o its primary service is other than to provide housing for residents. The withdrawal charge will apply with respect to a Contribution if the condition as described in this item (4) existed at the time the Contribution was remitted or if the condition began within the 12 month period following remittance. 5. request is made for a refund of a contribution in excess of amounts allowed to be contributed under Section 408 of the Code within one month of the date on which the contribution is made. ADMINISTRATIVE AND OTHER CHARGES DEDUCTED FROM ANNUITY ACCOUNT VALUE (SEE SECTION 8.02): The lesser of $30 or 2% of the Annuity Account Value including the amount of any withdrawals pursuant to Section 5.01 made during that year for the first two Contract Years, and $30 for each Contract Year thereafter. This amount may be increased to a maximum of $65 in accordance with Section 8.02. It will be withdrawn from the Investment Options on a pro-rata basis unless you designate otherwise. No Administrative Charge will apply if the Annuity Account Value is more than $20,000. Premium taxes are generally incurred at annuitization and a charge for such taxes will then be deducted from the Annuity Account Value. Some jurisdictions impose a premium tax at the time each Contribution is made. If withdrawals are made as described in Section 5.01 prior to the Annuity Commencement Date, any applicable tax charges we have paid with respect to your Certificate will be deducted. If we have previously deducted charges for applicable taxes from Contributions, we will not again deduct charges for the same taxes on withdrawals unless a change in applicable law has occurred. DAILY SEPARATE ACCOUNT CHARGE (SEE SECTION 8.04): 1.45%; this is subject to change as described in Sections 8.04 and 8.05, subject to a maximum of 2.00%. This Charge is for financial accounting and for death benefits, mortality risk expenses and expense risk that we assume. No. 94ICA DATA PAGE 6 PART C - THIS PART LISTS THE TERMS WHICH APPLY TO THE MARKET VALUE ADJUSTMENT TERMS ENDORSEMENT. DEATH BENEFIT AMOUNT: The larger of (a) the Annuity Account Value in Separate Account No. 48 and (b) the Guaranteed Period Amount. TRANSFER RULES (SEE SECTION 4.02): The minimum amount which may be transferred from the Guaranteed Period Amount, after the initial allocation, is $300 or the Guaranteed Period Amount, if less. Transfers at Expiration Date (see item 1 of Endorsement): If no election is made with respect to amounts in the Guaranteed Period Account as of the Expiration Date, such amounts will be transferred into the Money Market Fund. MVA FORMULA (SEE ITEM 3 OF ENDORSEMENT): The current rate percentage we use in item (c) of the formula is a maximum of 0.50%. If we are no longer offering new Guarantee Periods, we will use a rate equal to the most recent Moody's Corporate Bond Yield Average - Monthly Average Corporates, for the duration required, as published by Moody's Investor Services, Inc. If such Moody's rate is not available, a rate based on a substantially similar average will be used. No. 94ICA DATA PAGE 7 EX-99.4PENDORSE 7 ROTH ADVANTAGE ENDORSEMENT THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES This Certificate is hereby amended, effective as of its Issue Date, as follows: 1. The terms of the attached "Roth IRA Endorsement" will apply, notwithstanding any terms to the contrary contained in this Certificate. 2. In addition to the events under which a withdrawal charge will not apply, as described in the Certificate, a withdrawal charge will also not apply in the event of a withdrawal made, after five Contract Years have elapsed, for a qualified first-time homebuyer distribution pursuant to Section 72(t)(2) of the Code, subject to receipt of evidence satisfactory to us that such withdrawal is in fact for such purpose. 3. A withdrawal for a higher education expense distribution pursuant to Section 72(t)(2) of the Code may be made subject to receipt of evidence satisfactory to us that such withdrawal is in fact for such purpose. In the event of such a withdrawal, the Free Corridor Amount for the Contract Year in which the withdrawal is made will, when such withdrawal is considered together with all other withdrawals made in that Contract Year, be 25%. NEW YORK, THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES /s/ Edward Miller /s/ Pauline Sherman Chairman and Chief Executive Officer Vice President, Secretary and Associate General Counsel No. 98ROTH "ROTH IRA ENDORSEMENT" Endorsement Applicable to Roth IRA Certificates When issued with this Endorsement, this Certificate is a "Roth IRA Certificate" which is issued as an individual retirement annuity contract which meets the requirements of Sections 408A and 408(b) of the Code. It is established for the exclusive benefit of you and your beneficiaries, and the terms below change, or are added to, the applicable provisions of this Certificate. Also, your entire interest under the Certificate is not forfeitable. I. DEFINITIONS ----------- The following apply in addition to or in lieu of corresponding definitions in the Certificate. ANNUITANT. You must be both the Annuitant and the Owner. ANNUITANT COMMENCEMENT DATE. You may not choose an Annuity Commencement Date later than our maximum maturity age (currently age 90, unless a different age is required by State law), and any period certain you select must conform to IRS life expectancy tables in Treasury Regulations Section 1.72-9. CODE. When used in this Endorsement references to the Code include references to applicable tax Regulations. CONTRIBUTIONS. Contributions are subject to the limits of Section 408A of the Code. OWNER. The Annuitant is the Owner of the Certificate and cannot be changed. II. LIMITS ON CONTRIBUTIONS ----------------------- No Contributions will be accepted unless they are in United States cash (including checks). We reserve the right to accept electronic cash which meets our specifications. Except in the case of a rollover or direct transfer Contribution discussed below which meets the requirements of Section 408A of the Code, the total of your Contributions will not exceed the maximum total under Section 408A(c)(2) of the Code for any taxable year. A "rollover contribution" is one permitted by Section 408A(e) and 408(d)(3) of the Code. Roth IRA to Roth IRA Rollover Contributions. You may make a qualified rollover contribution as permitted by Sections 408A(e) and 408(d) of the Code from another Roth IRA. There are no limits on the amount rolled over; however, you may be required to designate the taxable year in which you converted any non-Roth IRA funds into Roth IRA funds. Direct Transfer Contributions. You may make a Contribution of a direct transfer of funds from another Roth IRA under Section 408A of the Code. There are no limits on the amount transferred; however, you may be required to designate the taxable year in which you converted any non-Roth IRA funds into Roth IRA funds. Non-Roth IRA to Roth IRA Rollover Contributions ("Conversion Contributions"). If you meet the modified adjusted gross income limits specified in Section 408A, you may make a qualified rollover contribution as permitted by Section 408A(c)(3)(B) of the Code and Sections 408A(e) and 408(d)(3) of the Code from another individual retirement plan under Section 408 of the Code which is not a Roth IRA. There are no limits on the amounts rolled over. We reserve the right to require you to designate the year to which such a conversion of non-Roth IRA funds into Roth IRA funds applies. Rollovers are not permitted by SEP-IRAs under Section 408(k) of the Code or SIMPLE IRAs under Section 408(p) of the Code. No. 98ROTH If we determine that any Contributions would cause this Certificate not to qualify under Sections 408A or 408(b) of the Code, we reserve the right to either (i) refuse to accept any such Contributions or (ii) apply such Contributions to a nonqualified deferred annuity contract or certificate for the exclusive benefit of you and your beneficiaries. III. DEATH BENEFITS -------------- Under the following circumstances, the death benefit described in this Certificate will not be paid at your death before the Annuity Commencement Date, and the coverage under the Certificate will continue with your surviving spouse as Successor Owner and Annuitant. 1. You are married at your death. 2. The person named as death beneficiary is your surviving spouse. 3. You or your spouse at your death have additionally requested, in accordance with our procedures then in effect, that your spouse become "Successor Owner and Annuitant" of your Certificate if your spouse survives you. MINIMUM DISTRIBUTION RULES - DEATH BENEFIT. This Certificate is subject to these "Required Payment" or "Minimum Distribution" rules of Section 408(b) and 401(a)(9) of the Code and the Treasury Regulations which apply. If you die after distribution of your interest in this Certificate has begun, the remaining portion of such interest will continue to be distributed at least as rapidly as under the method of distribution being used prior to your death. If you die after distribution of your interest in this Certificate begins, distribution of your entire interest shall be completed no later than December 31 of the calendar year containing the fifth anniversary of your death, except to the extent that an election is made to receive death benefit distributions in accordance with (1) or (2) below: (1) If your interest is payable to a designated beneficiary, then your entire interest may be distributed over the life of, or over a period certain not greater than the life expectancy of, the designated beneficiary. Such distributions must commence on or before December 31 of the calendar year immediately following the calendar year of your death. (2) If the designated beneficiary is your surviving spouse, the date that distributions are required to begin in accordance with (1) above shall not be earlier than the later of (a) December 31 of the calendar year immediately following the calendar year of your death or (b) December 31 of the calendar year in which you would have attained age 70 1/2. If the designated beneficiary is your surviving spouse, and a Successor Annuitant and Owner option (described above in this Endorsement under DEATH BENEFITS) is in effect, the distribution of your interest need not be made until after your spouse's death. For purposes of determining the "period certain" referred to above, life expectancy is computed by use of the expected return multiples in Tables V and VI of the Treasury Regulation Section 1.72-9. For purposes of distributions beginning after your death, unless otherwise elected by the surviving spouse by the time distributions are required to begin, life expectancies shall be recalculated annually. Such election shall be irrevocable by the surviving spouse and shall apply to all subsequent years. In the case of any other designated beneficiary, life expectancies shall be calculated using the attained age of such beneficiary during the calendar year in which distributions are required to begin, pursuant to this Item, and payments for any subsequent calendar year shall be calculated based on such life expectancy reduced by one for each calendar year which has elapsed since the calendar year life expectancy was first calculated. No. 98ROTH Distributions under this Item are considered to have begun if distributions irrevocably commence to you over a period permitted and in any annuity form acceptable under Section 1.40(a)(9)-1 of the Proposed Treasury Regulations or any successor Regulation thereto. IV. ANNUITY BENEFITS ---------------- This Certificate will begin to pay out as an Annuity for your life on the Annuity Commencement Date you select on the application unless you indicate to us another form of payment before such payments commence. If you or your beneficiary (as described in Item III above) selects a period certain form of payment, no period certain can be longer than applicable life expectancy under IRS tables in Treasury Regulations Section 1.72-9. V. GENERAL PROVISIONS ------------------ TERMINATION OF CERTIFICATE If this Certificate fails to qualify as a Roth individual retirement annuity under Sections 408A and 408(b) of the Code, we will have the right to terminate the Certificate. We may do so, upon receipt of notice of such fact, before the Annuity Commencement Date. In that case, we have the right to pay the Annuity Account Value less a deduction for the part which applies to any Federal income tax payable by you which would not have been payable with respect to a Roth individual retirement annuity which meets the terms of Sections 408A and 408(b) of the Code. REPORTS AND NOTICES We will send you a report as of the end of each calendar year showing the status of the Certificate and any other reports required by the Code. ASSIGNMENTS, NONTRANSFERABILITY, NONFORFEITABILITY Your rights under this Certificate may not be assigned, pledged or transferred except as permitted by law. You may not name a new Owner, except as described in this Endorsement in relation to DEATH BENEFITS. No. 98ROTH EX-99.5C 8 TSA AND ROTH APPLICATION THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES New York, New York 10019 EQUI-VEST(R) TAX-DEFERRED VARIABLE ANNUITY APPLICATION Application Number:________________________ (Page 1 of 5) - -------------------------------------------------------------------------------- 1. EQUI-VEST PROGRAM (CHECK ONE)
TAX-EXEMPT BUSINESS INDIVIDUAL A. | | TSA PUBLIC SCHOOL E. | | KEOGH I. | | TRADITIONAL IRA B. | | TSA 501(c)(3) (HR-10 Individual) J. ROTH IRA: | | ADVANTAGE OR | | STANDARD C. | | TSA UNIVERSITY F. | | SEP | | Conversion Rollover from Traditional IRA D. | | EDC G. | | SARSEP | | Direct Transfer or Rollover from another ROTH IRA H. | | SIMPLE IRA | | Recurring Contributory ROTH IRA K. | | QP-IRA (Pension Distributions) L. | | UNIT-BILLED TRADITIONAL IRA M. | | UNIT-BILLED ROTH IRA | | Advantage | | Standard N. | | NQ (Non-Qualified Variable Annuity O. | | UNIT-BILLED NQ
- -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 2. EMPLOYER UNIT INFORMATION (COMPLETE FOR ALL PROGRAMS EXCEPT FOR I,J,K, AND N) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | CLIENT/EMPLOYER NAME (Select one) | | _| | | | | | - | | | | EXISTING UNIT NUMBER LOCATION or NEW UNIT | | Must Complete Plan Enrollment Kit) - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 3. ANNUITANT INFORMATION (CHECK APPROPRIATE BOXES) | | Mr. | | Mrs. | | Miss | | Ms. | | Other ___________ | | Male | | Female _| | | | | | | | | | SOCIAL SECURITY NO. (REQUIRED) - | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | FIRST NAME MIDDLE INITIAL ONLY LAST NAME BIRTH _| | | | | | | | _______________ (_| |) | | | | | | | | Home | | Work DATE: YEAR MONTH DAY AGE AT NEAREST BIRTHDAY AREA CODE DAYTIME PHONE NUMBER | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | STREET ADDRESS | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |-| | | | CITY STATE ZIP - -------------------------------------------------------------------------------- 4. ANNUITY COMMENCEMENT DATE (WHEN ANNUITANT ANTICIPATES DISTRIBUTIONS TO BEGIN) ________________ (Maximum age:85 except SIMPLE IRA and Roth IRA which is 90) - -------------------------------------------------------------------------------- 5. BENEFICIARY(IES) INFORMATION INCLUDE FULL NAME(S) AND RELATIONSHIP(S) TO OWNER. USE #14 IF YOU NEED MORE SPACE PRIMARY ---------------------------------------------------------------------- - -------------------------------------------------------------------------------- CONTINGENT (IF ANY): --------------------------------------------------------- - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 6. SUCCESSOR ANNUITANT/OWNER INFORMATION (AVAILABLE ONLY FOR TRADITIONAL IRA, ROTH IRA, NQ, SEP, SARSEP AND SIMPLE IRA CONTRACTS, EXCEPT IN OREGON) SUCCESSOR ANNUITANT AND OWNER MUST BE ANNUITANT/OWNER'S SPOUSE AND THE SOLE PRIMARY BENEFICIARY NAMED IN #5. | | NO, I don't elect a Successor Annuitant/Owner. | | YES, I do elect a Successor Annuitant/Owner. If YES, complete the following: | | | | | | | | | SPOUSE'S SOCIAL SECURITY NO. Spouse's Birth Date: | | | | | | | | | | YEAR MONTH DAY - -------------------------------------------------------------------------------- Form 180-1009 Cat. - 127124 (6/98) In Virginia: Form -180-1009VA Application Number:___________________ (Page 2 of 5) - -------------------------------------------------------------------------------- 7. OWNER INFORMATION (COMPLETE FOR EDC AND NQ IF THE OWNER WILL BE DIFFERENT FROM THE ANNUITANT NAMED IN #3) | | Individual | | Guardian | | Custodian (See below)* | | Trustee (For an entity)** | | Trustee (For an individual) -| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | FIRST NAME MIDDLE INITIAL ONLY LAST NAME ------------------------------------------- RELATIONSHIP TO ANNUITANT - | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | STREET ADDRESS - | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | CITY STATE ZIP - | | | | | | | | | (IF GUARDIAN OR CUSTODIAN BIRTH DATE - | | | | | | TAX ID OR OWNER S.S. NO. USE MINOR'S S.S. NO) YEAR MONTH DAY *As Custodian under the ___________ Uniform Gifts to Minors Act (UGMA) or STATE Uniform Transfer to Minors Act (UTMA). Please note if issued under UGMA or UTMA, **Inside build-up is taxable. the beneficiary named in #5 must be the Estate of the Annuitant. - -------------------------------------------------------------------------------- 8. NQ SUCCESSOR OWNER INFORMATION (NOT AVAILABLE FOR NQ CONTRACTS IN OREGON) AVAILABLE ONLY FOR NQ CONTRACTS AND ONLY IF ANNUITANT AND OWNER IN #3 AND #7 ARE DIFFERENT PARTIES. | | NO, I don't elect a Successor/Owner | | YES, I do elect a Successor/Owner - | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | FIRST NAME MIDDLE INITIAL ONLY LAST NAME - | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | STREET ADDRESS | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |-| | | | CITY STATE ZIP | | | | | | | | | BIRTH DATE: | | | | | | | | SOCIAL SECURITY NUMBER YEAR MONTH DAY - -------------------------------------------------------------------------------- 9. CONTRIBUTION INFORMATION (COMPLETE #9A ONLY IF A PAYMENT IS PROVIDED WHEN THE APPLICATION IS SIGNED. IF PAYMENT WILL BE FORWARDED AT A LATER DATE, YOU MUST COMPLETE ONLY #9B.) A. AMOUNT PROVIDED WITH THIS APPLICATION: (i) Total amount for investment options listed in #11. (Do not include amounts for the Fixed Maturity Account.) $_________ (ii) Total amount for Fixed Maturity Period(s) listed in #12. $_________ (iii) If TSA (#1A, 1B or 1C) or SARSEP (#1G) or SIMPLE IRA (#1H) has been checked, provide a monthly breakdown of employee and employer contributions. $ ----------------- $ ----------------- Employee Employer (iv) Total Amount Remitted. $_________ B. EXPECTED FIRST YEAR CONTRIBUTION: Indicate the amount expected to be contributed in the first year of this contract. $_________ - -------------------------------------------------------------------------------- Application Number: ___________________________ (Page 3 of 5) - -------------------------------------------------------------------------------- 10. REMINDER/CONTRIBUTION STATEMENTS INFORMATION (COMPLETE #10A, 10B OR 10C AS APPLICABLE.) A. INDIVIDUAL REMINDER NOTICE: (COMPLETE ONLY IF YOU CHECKED THE TRADITIONAL OR ROTH IRA OR NQ BOX IN #1.) (i) Indicate if a Contribution reminder Notice is desired. | | YES | | NO (ii) If Yes, complete the reminder frequency: | | Annually | | Semi-Annually | | Quarterly (iii) Date of First Reminder ___________/___________ (not past the 28th) MONTH DAY (iv) Contribution Reminder Notice Amount $_____________ B. PLAN CONTRIBUTION STATEMENT FREQUENCY (UNIT-BILLED/SALARY DEDUCTION CASES) (i) Complete only if you checked TSA Public School, TSA 501(c)(3), TSA University, EDC, Keogh (Non-Trusteed), SEP, SARSEP, SIMPLE IRA, Unit-Billed Traditional or Roth IRA or Unit-Billed NQ. | | Annually | | Semi-Annually | | Quarterly | | Monthly | | Semi-Monthly | | Bi-Weekly (ii) | | YES | | NO I want to be included on the Contribution Statement sent to my employer. (Each Contribution Statement will show the amount of the last contribution made.) Initial Contribution Statement Reminder Amount. $____________________ C. FOR TSA UNITS ONLY: Months to be excluded, if any, from Plan Contribution Statement (months must be consecutive and from May to September only). __________________ - -------------------------------------------------------------------------------- 11. SELECTION OF INVESTMENT OPTIONS AND ALLOCATION PERCENTAGES (CHECK EITHER BOX A OR BOX B BUT NOT BOTH.) A. | | MAXIMUM TRANSFER FLEXIBILITY. By checking this box, you may only invest in those options listed below (which have been SHADED). Transfers out of the GIA will be limited. B. | | MAXIMUM FUND CHOICE. By checking this box, you may invest in any of the options listed below (shaded or not shaded). Transfers out of the GIA will be limited (see Prospectus for details). CURRENT ALLOCATION. Select the allocation for the amount indicated in #9A(I) or any amounts that you may invest in these options in the future. You can change this allocation for future contributions at any time. You must allocate your contributions below by entering percentages in whole numbers totalling 100% for funds you have chosen. Note: If you are investing in the Fixed Maturity Account (FMA) you must be certain that you have entered an amount in #9A(II), checked box #11B, and complete #12. There is no need to complete the allocation below if you intend to use only the FMA under your EQUI-VEST contract. Guaranteed Interest Account _________% Alliance Equity Index _________% Alliance Growth & Income _________% Alliance Common Stock _________% Alliance Global _________% Alliance International _________% Alliance Aggressive Stock _________% Alliance Growth Investors _________% Alliance Balanced _________% Alliance Small Cap Growth _________% Alliance Conservative Investors _________% Alliance Money Market _________% Alliance Intermediate Gov't.Securities _________% Alliance Quality Bond _________% Alliance High Yield _________% T. Rowe Price International Stock _________% T. Rowe Price Equity Income _________% EQ/Putnam Growth & Income Value _________% EQ/Putnam Balanced _________% MFS Research _________% MFS Emerging Growth Companies _________% Morgan Stanley Emerging Markets Equity _________% Warburg Pincus Small Company Value _________% Merrill Lynch World Strategy _________% Merrill Lynch Basic Value Equity _________% TOTAL (FOR BOTH COLUMNS) 100% Application Number: __________________________ (Page 4 of 5) - -------------------------------------------------------------------------------- 12. FIXED MATURITY ACCOUNT ELECTIONS (AVAILABLE ONLY FOR SERIES 400 IRA, QP IRA, AND NQ CONTRACTS, BUT NOT AVAILABLE IN MARYLAND) For the amount shown in #9A(II), please allocate by whole percentages to the following Fixed Maturity Period(s). (Do not select a Maturity Date that has already expired.) MATURITY DATES PERCENTAGE OF AMOUNT SHOWN IN 9A(II) | | June 15, 1999 ________________________ % | | June 15, 2000 ________________________ ------------- | | June 15, 2001 ________________________ USE WHOLE | | June 14, 2002 ________________________ PERCENTAGES | | June 13, 2003 ________________________ ONLY | | June 15, 2004 ________________________ ------------- | | June 15, 2005 ________________________ | | June 15, 2006 ________________________ | | June 15, 2007 ________________________ | | June 13, 2008 ________________________ TOTAL 100 % ------------------------ - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 13. INFORMATION TO SATISFY REGULATORY REQUIREMENTS A. THE OWNER RECEIVED THE FOLLOWING EQUI-VEST PROSPECTUS AND ANY APPLICABLE SUPPLEMENT: ------------------------------ ----------------------------------- DATE OF PROSPECTUS DATE(S) OF ANY SUPPLEMENT(S) TO PROSPECTUS B. WILL ANY EXISTING INSURANCE OR ANNUITY BE (OR HAS IT BEEN) REPLACED OR CHANGED, ASSUMING THE CONTRACT APPLIED FOR WILL BE ISSUED? | | Yes | | No If Yes, complete the following: --------------- --------------- -------------------- ---------------- YEARS ISSUED TYPE OF PLAN COMPANY CONTRACT NUMBER ------------------------------------------------------------------------ COMPANY ADDRESS NQ Only: Contribution basis (check one): | | Before 8/14/82 | | 8/14/82 or later Net cost:_________ (attach illustration) C. NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC. (NASD) INFORMATION (AS REQUIRED BY THE NASD). -------------------------------------- -| | | | | | | | | | | | | EMPLOYER'S NAME OWNER'S OCCUPATION ------------------------------------------------------------------------ EMPLOYER'S STREET ADDRESS ------------------------------------------------------------------------ CITY STATE ZIP ------------------------------- ----------------------------- ESTIMATED ANNUAL FAMILY INCOME ESTIMATED NET WORTH Investment Objective: | | Income | | Income & Growth | | Growth | | Aggressive Growth | | Safety of Principal Is Owner or Annuitant associated with or employed by a member of the NASD? | | Yes | | No - -------------------------------------------------------------------------------- 14. SPECIAL INSTRUCTIONS (FOR BENEFICIARY, REPLACEMENT, OR TRANSFER INFORMATION) --------------------------------------------------------------------------- --------------------------------------------------------------------------- --------------------------------------------------------------------------- --------------------------------------------------------------------------- Application Number: ___________________________ (Page 5 of 5) - -------------------------------------------------------------------------------- 15. AGREEMENT All information and statements furnished in this application are true and complete to the best of my knowledge and belief. I understand and acknowledge that no Agent has the authority to make or modify any contract on Equitable Life's behalf, or to waive or alter any of Equitable Life's rights and regulations. I understand that amounts withdrawn from the contract may be subject to a withdrawal charge, I understand that the annuity account value attributable to allocations to the investment funds of the separate account or variable annuity benefit payments may increase or decrease and are not guaranteed as to dollar amount. For the Fixed Maturity Account, amounts payable under the contract before the Maturity Date selected in Item 12 are subject to maket value adjustments. ---------------------------------------------- -------------------------- PROPOSED ANNUITANTS SIGNATURE DATE CITY STATE ---------------------------------------------- -------------------------- SIGNATURE OF OWNER DATE CITY STATE (IF OTHER THAN PROPOSED ANNUITANT) (NEW YORK, OREGON AND VIRGINIA RESIDENTS SIGN ABOVE, ALL OTHER RESIDENTS SIGN BELOW.) ------------------------------------------------------------------------- In Colorado: It is unlawful to knowingly provide false, incomplete, or misleading facts or information to an insurance company for the purpose of defrauding or attempting to defraud the company. Penalties may include imprisonment, fines, denial of insurance, and civil damages. Any insurance company or agent of an insurance company who knowingly provides false, incomplete or misleading facts or information to a policyholder or claimant for the purpose of defrauding or attempting to defraud the policy holder or claimant with regard to a settlement or award payable from insurance proceeds shall be reported to the Colorado Division of Insurance within the Department of Regulatory Agencies. In Florida: Any person who knowingly and with intent to injure, defraud, or deceive any insurer files a statement of claim or an application containing any false, incomplete, or misleading information is guilty of a felony of the third degree. In New Jersey: Any person who knowingly files a statement of claim containing any false or misleading information is subject to criminal and civil penalties. In Arkansas Any person who knowingly and with intent to defraud any Kentucky and insurance company or other person files an application for Pennsylvania: insurance or statement of claim containing any materially false information or conceals for the purpose of misleading, information concerning any fact material thereto commits a fraudulent insurance act, which is a crime and subjects such person to criminal and civil penalties. All Other States: Laws in your state may make it a crime to fill out an insurance or annuity application with information you know is false or to leave out material facts. --------------------------------------------- --------------------------- PROPOSED ANNUITANTS SIGNATURE DATE CITY STATE --------------------------------------------- --------------------------- SIGNATURE OF OWNER DATE CITY STATE (IF OTHER THAN PROPOSED ANNUITANT) - -------------------------------------------------------------------------------- Form -180-1009 Cat. 127124 (6/98) In Virginia Form -180-1009VA [EQUITABLE LOGO] -----END PRIVACY-ENHANCED MESSAGE-----