-----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, Jxwgt/LOmVsFauvAVIEaH7D1JWiqKC4XhrA4plDYTNDNYS6CkgBJodZjk5+8ixco xQLWa79wCjEVP8lePih/GQ== 0000089024-08-000553.txt : 20081113 0000089024-08-000553.hdr.sgml : 20081113 20081113181104 ACCESSION NUMBER: 0000089024-08-000553 CONFORMED SUBMISSION TYPE: S-3 PUBLIC DOCUMENT COUNT: 5 FILED AS OF DATE: 20081113 DATE AS OF CHANGE: 20081113 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AXA EQUITABLE LIFE INSURANCE CO CENTRAL INDEX KEY: 0000727920 STANDARD INDUSTRIAL CLASSIFICATION: INSURANCE AGENTS BROKERS & SERVICES [6411] IRS NUMBER: 135570651 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: S-3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-155361 FILM NUMBER: 081186420 BUSINESS ADDRESS: STREET 1: 1290 AVENUE OF THE AMERICAS CITY: NEW YORK STATE: NY ZIP: 10104 BUSINESS PHONE: 2125541234 MAIL ADDRESS: STREET 1: 1290 AVENUE OF AMERICAS CITY: NEW YORK STATE: NY ZIP: 10104 FORMER COMPANY: FORMER CONFORMED NAME: AXA-EQUITABLE LIFE INSURANCE CO DATE OF NAME CHANGE: 20040928 FORMER COMPANY: FORMER CONFORMED NAME: EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES /NY/ DATE OF NAME CHANGE: 19920703 S-3 1 e10801.txt REGISTRATION STATEMENT ON FORM S-3 Registration No. 333-______ - -------------------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ------------------------------------ FORM S-3 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 AXA Equitable Life Insurance Company (Exact name of registrant as specified in its charter) --------------------------------------------------------- New York (State or other jurisdiction of incorporation or organization) 13-5570651 (I.R.S. Employer Identification No.) 1290 Avenue of the Americas, New York, New York 10104 (212)554-1234 (Address, including zip code, and telephone number, including area code, of registrant's principal executive offices) ------------------------------------------------------------------------ DODIE KENT VICE PRESIDENT AND ASSOCIATE GENERAL COUNSEL AXA Equitable Life Insurance Company 1290 Avenue of the Americas, New York, New York 10104 (212)554-1234 (Name, address, including zip code, and telephone number, including area code, of agent for service) ------------------------------------------------------------------ Please send copies of all communications to: CHRISTOPHER E. PALMER Goodwin Procter LLP 901 New York Avenue, Northwest Washington, D.C. 20001 Approximate date of commencement of proposed sale to the public: As soon after the effective date of this Registration Statement as is practicable. If the only securities being registered on this Form are being offered pursuant to dividend or interest reinvestment plans, please check the following box. [ ] If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, other than securities offered only in connection with dividend or interest reinvestment plans, check the following box: [ ] If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act Registration statement number of the earlier effective registration statement for the same offering. [ ] If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. [ ] If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. [ ] If this Form is a registration statement pursuant to General Instruction I.D. or a post-effective amendment thereto that shall become effective upon filing with the commission pursuant to Rule 462(e) under the Securities Act, check the following box. | | If this Form is a post-effective amendment to a registration statement filed pursuant to General Instruction I.D. filed to register additional securities or additional classes of securities pursuant to Rule 413(b) under the Securities Act, check the following box. | | Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act. Large accelerated filer | | Accelerated filer | | Non-accelerated filer |X| Smaller reporting company | | (do not check if a smaller reporting company)
CALCULATION OF REGISTRATION FEE - ------------------------------------------------------------------------------------------------------------ Title of each class Proposed maximum Proposed maximum of securities to be Amount to be offering price per aggregate offering Amount of registered registered unit price registration fee - ------------------------------------------------------------------------------------------------------------ Market value $500,000,000(2) (1) $500,000,000 $19,650.00(2) Adjustment Interests under Flexible Premium Annuity Contracts - ------------------------------------------------------------------------------------------------------------
(1) The securities are not issued in predetermined amounts or units. (2) Prior to the filing of this Registration Statement, $221,000,000 of securities of the registrant remained registered and unsold, pursuant to Registration Statement File No. 333-150348 on Form S-1, which was filed with the Commission on April 21, 2008. The registration fee of $8,685.30 associated with the unsold securities was offset from the registration fee of $19,650.00 associated with the securities registered pursuant to Rule 457(p) and such unsold securities were deemed deregistered. A payment of $10,964.70, which accounts for the remainder of the registration fee, has been wired to U. S. Bank of St. Louis, MO for deposit into the Commission's account. EXPLANATORY NOTE Registrant is filing this registration statement for the sole purpose of registering additional market value adjustment interests under deferred variable annuity contracts previously described in the prospectuses contained in this registration statement and in certain other prospectuses that are contained in Registrant's currently-effective Form S-1 registration statement (File No. 333-150348). In addition, Registrant is switching the registration from Form S-1 to Form S-3. Registrant incorporates herein by reference the prospectuses and any supplements thereto, which remain unchanged, that have been filed in that registration statement. AXA Equitable Life Insurance Company SUPPLEMENT DATED NOVEMBER 13, 2008 TO THE CURRENT PROSPECTUSES FOR: o Accumulator(R) (IRA, NQ, QP) o Income Manager(R) Rollover IRA o Accumulator(R) Plus(SM) o EQUI-VEST(R) o Accumulator(R) o EQUI-VEST(R) Strategies o Accumulator(R) Select(SM) o EQUI-VEST(R) Express(SM) o Accumulator(R) Select(SM) II o EQUI-VEST(R) At Retirement(SM) o Accumulator(R) Elite(SM) o EQUI-VEST(R) TSA Advantage(SM) o Accumulator(R) Elite(SM) II o EQUI-VEST(R) Vantage(SM) o Accumulator(R) Express(SM) o EQUI-VEST(R) Employer Sponsored o Income Manager Accumulator(R) Retirement Programs - -------------------------------------------------------------------------------- This Supplement updates certain information in the most recent prospectus you received for any of the products listed above, and in any supplements to that prospectus (collectively, the "Prospectuses"). You should read this Supplement in conjunction with the Prospectuses and retain it for future reference. Unless otherwise indicated, all other information included in the Prospectuses remains unchanged. The terms and section headings we use in this Supplement have the same meaning as in the Prospectuses. We will send you another copy of any prospectus or supplement without charge upon request. Please contact the customer service group referenced in your prospectus. The following information replaces the section of your Prospectus entitled "Incorporation of certain documents by reference" in its entirety. INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE AXA Equitable's Annual Report on Form 10-K for the period ended December 31, 2007 (the "Annual Report") is considered to be part of this Prospectus because it is incorporated by reference. The following filings are also incorporated by reference and therefore considered to be part of this Prospectus: AXA Equitable's Quarterly Reports on Form 10-Q for the periods ended March 31, 2008 and June 30, 2008. AXA Equitable files reports and other information with the SEC, as required by law. You may read and copy this information at the SEC's public reference facilities at Room 1580, 100 F Street, NE, Washington, DC 20549, or by accessing the SEC's website at www.sec.gov. The public may obtain information on the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0330. Under the Securities Act of 1933, AXA Equitable has filed with the SEC a registration statement relating to the fixed maturity option (the "Registration Statement"). This Prospectus has been filed as part of the Registration Statement and does not contain all of the information set forth in the Registration Statement. The Annual Report includes the audited consolidated financial statements of AXA Equitable at December 31, 2007 and 2006 and for each of the three years in the period ended December 31, 2007 (the "AXA Equitable Financial Statements"). The AXA Equitable Financial Statements are included in the Annual Report and incorporated by reference into this Prospectus in reliance on the report of PricewaterhouseCoopers LLP, an independent registered public accounting firm. The AXA Equitable Financial Statements are also included in the Annual Report and incorporated by reference into this Prospectus in reliance on the reports of KPMG LLP, an independent registered public accounting firm, on (i) the Consolidated Statements of Income, Changes in Partners' Capital and Comprehensive Income, and Cash Flows of AllianceBernstein L.P. and (ii) the Statements of Income, Changes in Partners' Capital and Comprehensive Income, and Cash Flows of AllianceBernstein Holding L.P. (together "AllianceBernstein", formerly "Alliance") for the year ended December 31, 2005. The reports are given on the authority of said firms as experts in auditing and accounting. KPMG LLP was AllianceBernstein's independent registered public accounting firm for the year ended December 31, 2005. On March 8, 2006, KPMG LLP was terminated, and PricewaterhouseCoopers LLP was appointed as AllianceBernstein's independent registered public accounting firm, as disclosed on AXA Equitable's Report on Form 8-K filed on March 13, 2006. AllianceBernstein Corporation, an indirect wholly owned subsidiary of AXA Equitable, is the general partner of both AllianceBernstein L.P. and AllianceBernstein Holding L.P. After the date of this Prospectus and before we terminate the offering of the securities under the Registration Statement, all documents or reports we file with the SEC under the Securities Exchange Act of 1934 ("Exchange Act"), will be considered to become part of this Prospectus because they are incorporated by reference. Any statement contained in a document that is or becomes part of this Prospectus, will be considered changed or replaced for purposes of this Prospectus if a statement contained in this Prospectus changes or is replaced. Any statement that is considered to be a part of this Prospectus because of its incorporation will be considered changed or replaced for the purpose of this Prospectus if a statement contained in any other subsequently filed document that is considered to be part of this Prospectus changes or replaces that statement. After that, only the statement that is changed or replaced will be considered to be part of this Prospectus. IM-08-07 (10/08) 140628 (10/08) NB/IF (AR) x02227 We file the Registration Statement and our Exchange Act documents and reports, including our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, electronically according to EDGAR under CIK No. 0000727920. The SEC maintains a website that contains reports, proxy and information statements, and other information regarding registrants that file electronically with the SEC. The address of the site is www.sec.gov. Upon written or oral request, we will provide, free of charge, to each person to whom this Prospectus is delivered, a copy of any or all of the documents considered to be part of this Prospectus because they are incorporated herein. In accordance with SEC rules, we will provide copies of any exhibits specifically incorporated by reference into the text of the Exchange Act reports (but not any other exhibits). Requests for documents should be directed to AXA Equitable Life Insurance Company, 1290 Avenue of the Americas, New York, New York 10104. Attention: Corporate Secretary (telephone: (212) 554-1234). You can access our website at www.axa-equitable.com. ACCUMULATOR(R), INCOME MANAGER(R) AND EQUI-VEST(R) ARE ISSUED BY AND ARE REGISTERED SERVICE MARKS OF AXA EQUITABLE LIFE INSURANCE COMPANY (AXA EQUITABLE). ACCUMULATOR(R) PLUS(SM), ACCUMULATOR(R) SELECT(SM), ACCUMULATOR(R) ELITE(SM), ACCUMULATOR(R) EXPRESS(SM), EQUI-VEST(R) AT RETIREMENT(SM), EQUI-VEST(R) EXPRESS(SM), EQUI-VEST(R) TSA ADVANTAGE(SM), EQUI-VEST(R) VANTAGE(SM) ARE SERVICE MARKS OF AXA EQUITABLE. CO-DISTRIBUTED BY AFFILIATES AXA ADVISORS, LLC AND AXA DISTRIBUTORS, LLC, 1290 AVENUE OF THE AMERICAS, NEW YORK, NY 10104. COPYRIGHT 2008 AXA EQUITABLE LIFE INSURANCE COMPANY. ALL RIGHTS RESERVED. AXA Equitable Life Insurance Company 1290 Avenue of the Americas New York, NY 10104 212-554-1234 2 EQUI-VEST(SM) A combination variable and fixed deferred annuity contract PROSPECTUS DATED MAY 1, 2008 Please read and keep this prospectus for future reference. It contains important information that you should know before purchasing or taking any other action under your contract. You should read the prospectuses for each Trust which contain important information about the portfolios. - -------------------------------------------------------------------------------- WHAT IS EQUI-VEST(SM)? EQUI-VEST(SM) is a deferred annuity contract issued by AXA Equitable Life Insurance Company. It provides for the accumulation of retirement savings and for income. The contract also offers death benefit protection and a number of payout options. You invest to accumulate value on a tax-deferred basis in one or more of our variable investment options, our guaranteed interest option or in our fixed maturity options ("investment options"). The contract may not currently be available in all states. - -------------------------------------------------------------------------------- Variable investment options - -------------------------------------------------------------------------------- Fixed income - -------------------------------------------------------------------------------- o AXA Conservative Allocation(1) o EQ/JPMorgan Core Bond o AXA Conservative-Plus Allocation(1) o EQ/Long Term Bond o EQ/AllianceBernstein Intermediate o EQ/Money Market Government Securities o EQ/PIMCO Real Return o EQ/AllianceBernstein Quality Bond o EQ/Short Duration Bond o EQ/Caywood-Scholl High Yield Bond o Multimanager Core Bond o EQ/Evergreen International Bond o Multimanager High Yield o EQ/Franklin Income - -------------------------------------------------------------------------------- Domestic stocks - -------------------------------------------------------------------------------- o AXA Aggressive Allocation(1) o EQ/Lord Abbett Mid Cap Value o AXA Moderate-Plus Allocation(1) o EQ/Marsico Focus o EQ/AllianceBernstein Common Stock o EQ/Mid Cap Value PLUS(4) o EQ/AllianceBernstein Large Cap o EQ/Montag & Caldwell Growth Growth o EQ/Mutual Shares o EQ/AllianceBernstein Small Cap o EQ/Oppenheimer Main Street Growth Opportunity o EQ/AllianceBernstein Value o EQ/Oppenheimer Main Street o EQ/Ariel Appreciation II Small Cap o EQ/AXA Rosenberg Value Long/Short o EQ/Small Company Index Equity o EQ/T. Rowe Price Growth Stock o EQ/BlackRock Basic Value Equity o EQ/Templeton Growth o EQ/Boston Advisors Equity Income o EQ/UBS Growth and Income o EQ/Calvert Socially Responsible o EQ/Van Kampen Comstock o EQ/Capital Guardian Growth o EQ/Van Kampen Mid Cap Growth o EQ/Capital Guardian Research o EQ/Van Kampen Real Estate o EQ/Davis New York Venture o Multimanager Aggressive Equity o EQ/Equity 500 Index o Multimanager Health Care o EQ/Evergreen Omega o Multimanager Large Cap Core Equity o EQ/FI Mid Cap o Multimanager Large Cap Growth o EQ/Franklin Small Cap Value o Multimanager Large Cap Value o EQ/Franklin Templeton Founding o Multimanager Mid Cap Growth Strategy o Multimanager Mid Cap Value o EQ/GAMCO Mergers and Acquisitions o Multimanager Small Cap Growth o EQ/GAMCO Small Company Value o Multimanager Small Cap Value o EQ/JPMorgan Value Opportunities o Multimanager Technology o EQ/Large Cap Core PLUS(2) o Target 2015 Allocation o EQ/Large Cap Growth PLUS(3) o Target 2025 Allocation o EQ/Legg Mason Value Equity o Target 2035 Allocation o EQ/Lord Abbett Growth and Income o Target 2045 Allocation o EQ/Lord Abbett Large Cap Core - -------------------------------------------------------------------------------- International stocks - -------------------------------------------------------------------------------- o EQ/AllianceBernstein International o EQ/Oppenheimer Global o EQ/BlackRock International Value o EQ/Van Kampen Emerging Markets o EQ/International Core PLUS(5) Equity o EQ/International Growth o Multimanager International Equity - -------------------------------------------------------------------------------- Balanced/hybrid - -------------------------------------------------------------------------------- o AXA Moderate Allocation(1) - -------------------------------------------------------------------------------- (1) The AXA Allocation portfolios. (2) Formerly named "MarketPLUS Large Cap Core." (3) Formerly named "MarketPLUS Large Cap Growth." (4) Formerly named "MarketPLUS Mid Cap Value." (5) Formerly named "MarketPLUS International Core." You may allocate amounts to the variable investment options under your choice of investment method subject to any restrictions. Each variable investment option is a subaccount of Separate Account A. Each variable investment option, in turn, invests in a corresponding securities portfolio of the AXA Premier VIP Trust or EQ Advisors Trust (the "Trusts"). Your investment results in a variable investment option will depend on the investment performance of the related portfolio. You may also allocate amounts to the guaranteed interest option and the fixed maturity options, which are discussed later in this prospectus. TYPES OF CONTRACTS. For existing and new contract holders we offer different "series" of contracts for use as: o A nonqualified annuity ("NQ") for after-tax contributions only. o An individual retirement annuity ("IRA"), either traditional IRA or Roth IRA. A minimum contribution is required to purchase a contract: For IRAs, $20 or $50 (depending on contract series); For NQ Contracts, $1,000 ($50 if under payroll deduction plan); For existing contract owners only (these contracts are not available for new purchasers): o A traditional IRA as a conduit to hold rollover distributions ("QP IRA") from a qualified plan or a Tax-Sheltered Annuity ("TSA"). QP IRA (series 100-400) and Roth Advantage Contracts (series 500). The SEC has not approved or disapproved these securities or determined if this prospectus is accurate or complete. Any representation to the contrary is a criminal offense. The contracts are not insured by the FDIC or any other agency. They are not deposits or other obligations of any bank and are not bank guaranteed. They are subject to investment risks and possible loss of principal. X02002 Series 100-500 Minimum additional rollover amounts required for QP IRA: For series 100 and 200, $1,000, For series 300 and 400, $2,500. o Original contracts (see Appendix I). Registration statements relating to this offering have been filed with the Securities and Exchange Commission ("SEC"). The statement of additional information ("SAI") dated May 1, 2008 is a part of one of the registration statements. The SAI is available free of charge. You may request one by writing to our processing office at P.O. Box 4956, Syracuse, NY 13221-4956 or calling (800) 628-6673. The SAI has been incorporated by reference into this prospectus. This prospectus and the SAI can also be obtained from the SEC's website at www.sec.gov. The table of contents for the SAI appears at the back of this prospectus. Although this prospectus is primarily designed for potential purchasers of the contract in Pennsylvania (series 300 IRA and NQ) and in Oregon (series 100 IRA and NQ), you may have previously purchased a contract in these and other states and are receiving this prospectus as a current contract owner. If you are a current contract owner, you should note that the options, features and charges of the contract may have varied over time and may vary depending on your state. For more information about the particular options, features and charges applicable to you, please contact your financial professional and/or refer to your contract, and for "original contracts" information, see Appendix I. Contents of this prospectus - -------------------------------------------------------------------------------- EQUI-VEST(SM) - -------------------------------------------------------------------------------- Index of key words and phrases 5 Who is AXA Equitable? 7 How to reach us 8 EQUI-VEST(SM) at a glance -- key features 10 - -------------------------------------------------------------------------------- FEE TABLE 13 - -------------------------------------------------------------------------------- Examples 16 Examples: EQUI-VEST(SM) series 100 and 200 contracts-- For IRA contracts 17 Examples: EQUI-VEST(SM) series 100 and 200 contracts-- For NQ contracts 19 Examples: EQUI-VEST(SM) series 300 contracts 21 Examples: EQUI-VEST(SM) series 400 contracts 23 Examples: EQUI-VEST(SM) series 500 contracts 25 Condensed financial information 27 - -------------------------------------------------------------------------------- 1. CONTRACT FEATURES AND BENEFITS 28 - -------------------------------------------------------------------------------- How you can purchase and contribute to your contract 28 Owner and annuitant requirements 30 How you can make your contributions 30 What are your investment options under the contract? 30 Portfolios of the Trusts 31 Selecting your investment method 37 Allocating your contributions 37 Your right to cancel within a certain number of days 38 - -------------------------------------------------------------------------------- 2. DETERMINING YOUR CONTRACT'S VALUE 39 - -------------------------------------------------------------------------------- Your account value and cash value 39 Your contract's value in the variable investment options 39 Your contract's value in the guaranteed interest option 39 Your contract's value in the fixed maturity options 39 - -------------------------------------------------------------------------------- 3. TRANSFERRING YOUR MONEY AMONG INVESTMENT OPTIONS 40 - -------------------------------------------------------------------------------- Transferring your account value 40 Disruptive transfer activity 40 Automatic transfer options 41 Investment simplifier 41 Rebalancing your account value 42 - ---------------------- "We," "our" and "us" refer to AXA Equitable. When we address the reader of this prospectus with words such as "you" and "your," we mean the person who has the right or responsibility that the prospectus is discussing at that point. This is usually the contract owner. Contents of this prospectus 3 - -------------------------------------------------------------------------------- 4. ACCESSING YOUR MONEY 43 - -------------------------------------------------------------------------------- Withdrawing your account value 43 How withdrawals are taken from your account value 44 Surrender of your contract to receive its cash value 44 Termination 44 When to expect payments 44 Your annuity payout options 44 - -------------------------------------------------------------------------------- 5. CHARGES AND EXPENSES 47 - -------------------------------------------------------------------------------- Charges that AXA Equitable deducts 47 Charges under the contracts 47 Charges that the Trusts deduct 51 Group or sponsored arrangements 51 Other distribution arrangements 51 - -------------------------------------------------------------------------------- 6. PAYMENT OF DEATH BENEFIT 52 - -------------------------------------------------------------------------------- Your beneficiary and payment of benefit 52 How death benefit payment is made 52 Beneficiary continuation option for traditional IRA, QP IRA, Roth IRA and Roth Advantage contracts 53 Beneficiary continuation option for series 400 NQ contracts only 53 - -------------------------------------------------------------------------------- 7. TAX INFORMATION 55 - -------------------------------------------------------------------------------- Overview 55 Buying a contract to fund a retirement arrangement 55 Transfers among investment options 55 Taxation of nonqualified annuities 55 Individual retirement arrangements ("IRAs") 57 Roth individual retirement annuities ("Roth IRAs") 63 Federal and state income tax withholding and information reporting 68 Impact of taxes to AXA Equitable 68 - -------------------------------------------------------------------------------- 8. MORE INFORMATION 69 - -------------------------------------------------------------------------------- About our Separate Account A 69 About the Trusts 69 About our fixed maturity options 69 About the general account 70 About other methods of payment 71 Dates and prices at which contract events occur 71 About your voting rights 71 About legal proceedings 72 Financial statements 72 Transfers of ownership, collateral assignments, loans, and borrowing 72 Distribution of the contracts 72 - -------------------------------------------------------------------------------- 9. INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE 74 - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- APPENDICES - -------------------------------------------------------------------------------- I -- Original Contracts I-1 II -- Condensed financial information II-1 III -- Market value adjustment example III-1 IV -- State contract availability and/or variations of certain features and benefits IV-1 - -------------------------------------------------------------------------------- STATEMENT OF ADDITIONAL INFORMATION TABLE OF CONTENTS - -------------------------------------------------------------------------------- 4 Contents of this prospectus Index of key words and phrases - -------------------------------------------------------------------------------- This index should help you locate more information on the terms used in this prospectus. Page account value 39 annuitant 28 annuity payout options 44 beneficiary 52 beneficiary continuation option 53 business day 71 cash value 39 conduit IRA 61 contract date 11 contract date anniversary 11 contract year 11 contributions 28 contributions to Roth IRAs 63 regular contribution 63 rollovers and transfers 63 conversion contributions 64 contributions to traditional IRAs 57 regular contributions 57 rollovers and transfers 59 disruptive transfer activity 40 EQAccess 8 fixed maturity amount 36 fixed maturity options 36 guaranteed interest option 36 Inherited annuity 53 IRA cover, 57 IRS 55 investment options cover, 30 market adjusted amount 36 market timing 40 market value adjustment 36 maturity value 36 NQ cover, 44 Original contracts 6, Appendix I partial withdrawals 43 portfolio cover processing office 8 QP IRAs cover rate to maturity 36 Required Beginning Date 61 Roth Advantage 6 Roth IRA cover, 63 SAI cover SEC cover TOPS 8 traditional IRA cover, 57 Trusts cover, 69 unit 39 unit investment trust 69 variable investment options cover, 30 To make this prospectus easier to read, we sometimes use different words than in the contract or supplemental materials. This is illustrated below. Although we do use different words, they have the same meaning in this prospectus as in the contract or supplemental materials. Your financial professional can provide further explanation about your contract. - -------------------------------------------------------------------------------- Prospectus Contract or Supplemental Materials - -------------------------------------------------------------------------------- fixed maturity options Guarantee Periods or Fixed Maturity Accounts variable investment options Investment Funds or Investment Divisions account value Annuity Account Value rate to maturity Guaranteed Rates guaranteed interest option Guaranteed Interest Account unit Accumulation unit unit value Accumulation unit value - -------------------------------------------------------------------------------- Index of key words and phrases 5 In this prospectus, we use a "series" number when necessary to identify a particular contract. We discuss five series of contracts. However, only two are available for new purchasers. Once you have purchased a contract you can identify the EQUI-VEST(SM) series you have by referring to your confirmation notice, or you may contact your financial professional, or you may call our toll-free number. The series designations are as follows: - ----------------------------------------------------------------------------------------------------------------------------------- o NQ, traditional IRA, and QP IRA contracts issued before January 3, 1994; and series 100 This series is available only for new o Roth IRA contracts converted from such IRA and QP IRA contracts. purchasers in OR and is no longer available for new purchasers of QP IRA contracts. Information on QP IRA is provided for our existing contract owners only. - ----------------------------------------------------------------------------------------------------------------------------------- o Certain NQ, traditional IRA and QP IRA contracts issued on or after August 17, series 200 1995. This series is no longer available for new purchasers. Information in this prospectus o Roth IRA contracts converted from such traditional IRA and QP IRA contracts. on this series is provided for our existing contract owners only. - ----------------------------------------------------------------------------------------------------------------------------------- o NQ, traditional IRA, QP IRA, and Roth IRA contracts issued on or after series 300 January 3, 1994 and before the date series 400 contracts became available in a state; and This series is available only for new purchasers in PA and is o Roth IRA contracts converted from such traditional IRA and QP IRA contracts. no longer available for new purchasers of QP IRA contracts. Information on QP IRA is provided for our existing contract owners only. - ----------------------------------------------------------------------------------------------------------------------------------- o NQ, traditional IRA, QP IRA, and Roth IRA contracts issued on or after July series 400 July 10, 1995 in states where approved; and This series is no longer available for new purchasers. Information in this prospectus o Roth IRA contracts converted from such traditional IRA and QP IRA contracts. on this series is provided for our existing contract owners only. - ----------------------------------------------------------------------------------------------------------------------------------- o Roth Advantage contracts series 500 This series is no longer available for new purchasers. Information in this prospectus on this series is provided for our existing contract owners only. - -----------------------------------------------------------------------------------------------------------------------------------
We also have contracts that we refer to as "Original contracts." These contracts are no longer available for new purchasers. Any information about original contracts which is different from the current series we offer can be found in Appendix I, which will be referenced throughout this prospectus when it applies. 6 Index of key words and phrases Who is AXA Equitable? - -------------------------------------------------------------------------------- We are AXA Equitable Life Insurance Company ("AXA Equitable") (until 2004, The Equitable Life Assurance Society of the United States), a New York stock life insurance corporation. We have been doing business since 1859. AXA Equitable is an indirect, wholly-owned subsidiary of AXA Financial, Inc., a holding company, which is itself an indirect, wholly-owned subsidiary of AXA SA ("AXA"). AXA is a French holding company for an international group of insurance and related financial services companies. As the ultimate sole shareholder of AXA Equitable, and under its other arrangements with AXA Equitable and AXA Equitable's parent, AXA exercises significant influence over the operations and capital structure of AXA Equitable and its parent. AXA holds its interest in AXA Equitable through a number of other intermediate holding companies, including Oudinot Participations, AXA America Holdings, Inc. and AXA Equitable Financial Services, LLC. AXA Equitable is obligated to pay all amounts that are promised to be paid under the contracts. No company other than AXA Equitable, however, has any legal responsibility to pay amounts that AXA Equitable owes under the contracts. AXA Financial, Inc. and its consolidated subsidiaries managed approximately $888.6 billion in assets as of December 31, 2007. For more than 100 years AXA Equitable has been among the largest insurance companies in the United States. We are licensed to sell life insurance and annuities in all fifty states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. Our home office is located at 1290 Avenue of the Americas, New York, NY 10104. Who is AXA Equitable? 7 HOW TO REACH US Please communicate with us at the mailing addresses listed below for the purposes described. Certain methods of contacting us, such as by telephone or electronically, may be unavailable or delayed. For example, our facsimile service may not be available at all times and/or we may be unavailable due to emergency closing. In addition, the level and type of service available may be restricted based on criteria established by us. In order to avoid delays in processing, please send your correspondence and check to the appropriate location, as follows: For correspondence with checks: - -------------------------------------------------------------------------------- FOR NQ AND IRA OWNERS WHO SEND CONTRIBUTIONS INDIVIDUALLY BY REGULAR MAIL: - -------------------------------------------------------------------------------- AXA Equitable EQUI-VEST(SM) Individual Collections P.O. Box 13459 Newark, NJ 07188-0459 - -------------------------------------------------------------------------------- FOR NQ AND IRA OWNERS WHO SEND CONTRIBUTIONS INDIVIDUALLY BY EXPRESS DELIVERY: - -------------------------------------------------------------------------------- AXA Equitable JPMorganChase EQUI-VEST(SM) Lockbox #13459 4 Chase Metrotech Center (7th Floor) Brooklyn, NY 11245-0001 Telephone number to be listed on express mail packages Attn: Extraction Supervisor, (718) 242-2992 - -------------------------------------------------------------------------------- FOR NQ AND IRA CONTRIBUTIONS REMITTED BY EMPLOYERS AND SENT BY REGULAR MAIL: - -------------------------------------------------------------------------------- AXA Equitable EQUI-VEST(SM) Unit Annuity Collections P.O. Box 13463 Newark, NJ 07188-0463 - -------------------------------------------------------------------------------- FOR NQ AND IRA CONTRIBUTIONS REMITTED BY EMPLOYERS AND SENT BY EXPRESS DELIVERY: - -------------------------------------------------------------------------------- AXA Equitable JPMorganChase EQUI-VEST(SM) Lockbox #13463 4 Chase Metrotech Center (7th Floor) Brooklyn, NY 11245-0001 Telephone number to be listed on express mail packages Attn: Extraction Supervisor, (718) 242-2992 For correspondence without checks: - -------------------------------------------------------------------------------- FOR ALL OTHER COMMUNICATIONS (E.G., REQUESTS FOR TRANSFERS, WITHDRAWALS, OR REQUIRED NOTICES) SENT BY REGULAR MAIL: - -------------------------------------------------------------------------------- AXA Equitable EQUI-VEST(SM) Processing Office P.O. Box 4956 Syracuse, NY 13221-4956 ---------------------------------- Your correspondence will be picked up at the mailing address noted above and delivered to the appropriate processing office. Your correspondence, however, is not considered received by us until it is received at one of our processing offices. Our processing office for correspondence with checks is 4 Chase Metrotech Center, 7th Floor, Brooklyn, NY. Our processing office for all other communications is 100 Madison Street, Suite 100, Syracuse, NY. - -------------------------------------------------------------------------------- FOR ALL OTHER COMMUNICATIONS (E.G., REQUESTS FOR TRANSFERS, WITHDRAWALS, OR REQUIRED NOTICES) SENT BY EXPRESS DELIVERY: - -------------------------------------------------------------------------------- AXA Equitable EQUI-VEST(SM) Processing Office 100 Madison Street, Suite 1000 Syracuse, NY 13202 - -------------------------------------------------------------------------------- REPORTS WE PROVIDE: - -------------------------------------------------------------------------------- o written confirmation of financial transactions; o quarterly statements of your contract values as of the close of each calendar quarter; and o annual statement of your contract values as of your contract date anniversary. - -------------------------------------------------------------------------------- TELEPHONE OPERATED PROGRAM SUPPORT ("TOPS") AND EQACCESS SYSTEMS: - -------------------------------------------------------------------------------- TOPS is designed to provide you with up-to-date information via touch-tone telephone. EQAccess is designed to provide this information through the Internet. You can obtain information on: o your current account value; o your current allocation percentages; o the number of units you have in the variable investment options; o rates to maturity for fixed maturity options; o the daily unit values for the variable investment options; and o performance information regarding the variable investment options (not available through TOPS). You can also: o change your allocation percentages and/or transfer among the variable investment options and the guaranteed interest option (not available for transfers to fixed maturity options); and o change your TOPS personal identification number ("PIN") (through TOPS only) and your EQ/Access password (through EQAccess only). Under TOPS only you can: o elect the investment simplifier. Under EQAccess only you can: o make a contribution to your IRA or NQ annuity contract; 8 Who is AXA Equitable? o elect to receive certain contract statements electronically; o change your address; and o access "Frequently Asked Questions" and certain service forms. "TOPS and EQAccess are normally available seven days a week, 24 hours a day. You can use TOPS by calling toll free 1 (800) 755-7777. You may use EQAccess by visiting our website at www.axaonline.com and logging in to access your account. Of course, for reasons beyond our control, these services may sometimes be unavailable." We have established procedures to reasonably confirm that the instructions communicated by telephone or the Internet are genuine. For example, we will require certain personal identification information before we will act on telephone or Internet instructions and we will provide written confirmation of your transfers. If we do not employ reasonable procedures to confirm the genuineness of telephone or Internet instructions, we may be liable for any losses arising out of any act or omission that constitutes negligence, lack of good faith, or willful misconduct. In light of our procedures, we will not be liable for following telephone or Internet instructions we reasonably believe to be genuine. We reserve the right to limit access to these services if we determine that you engaged in a disruptive transfer activity, such as "market timing" (see "Disruptive transfer activity" in "Transferring your money among investment options" later in this prospectus). - -------------------------------------------------------------------------------- CUSTOMER SERVICE REPRESENTATIVE: - -------------------------------------------------------------------------------- You may also use our toll-free number (800) 628-6673 to speak with one of our customer service representatives. Our customer service representatives are available on each business day Monday through Thursday from 8:00 a.m. to 7:00 p.m., and on Friday until 5:00 p.m., Eastern Time. Hearing or speech-impaired clients may call the AT&T National Relay Number at (800) 855-2880 for information about your account. If you have a Telecommunications Device for the Deaf (TDD), you may relay messages or questions to our Customer Service Department at (800) 628-6673, Monday through Thursday from 8:00 a.m. to 7:00 p.m., and on Friday until 5:00 p.m. Eastern Time. AT&T personnel will communicate our reply back to you via the TDD. - -------------------------------------------------------------------------------- TOLL-FREE TELEPHONE SERVICE: - -------------------------------------------------------------------------------- You may reach us toll-free by calling (800) 841-0801 for a recording of daily unit values for the variable investment options. WE REQUIRE THAT THE FOLLOWING TYPES OF COMMUNICATIONS BE ON SPECIFIC FORMS WE PROVIDE FOR THAT PURPOSE: (1) conversion of your traditional IRA contract to a Roth IRA contract; (2) cancellation of your Roth IRA or Roth Advantage contract and return to a traditional IRA contract; (3) election of the automatic investment program; (4) election of the investment simplifier; (5) election of the automatic deposit service; (6) election of the rebalancing program; (7) election of the required minimum distribution automatic withdrawal option; (8) election of the beneficiary continuation option; (9) election of the principal assurance allocation; (10) request for a transfer/rollover of assets or 1035 exchange to another carrier; (11) purchase by, or change of ownership to, a non-natural owner; and (12) contract surrender and withdrawal requests. WE ALSO HAVE SPECIFIC FORMS THAT WE RECOMMEND YOU USE FOR THE FOLLOWING TYPES OF REQUESTS: (1) address changes; (2) beneficiary changes; (3) transfers among investment options; and (4) change of ownership. TO CHANGE OR CANCEL ANY OF THE FOLLOWING WE REQUIRE WRITTEN NOTIFICATION GENERALLY AT LEAST SEVEN CALENDAR DAYS BEFORE THE NEXT SCHEDULED TRANSACTION: (1) automatic investment program; (2) investment simplifier; (3) rebalancing program; (4) systematic withdrawals; and (5) the date annuity payments are to begin. You must sign and date all these requests. Any written request that is not on one of our forms must include your name and your contract number along with adequate details about the notice you wish to give or the action you wish us to take. SIGNATURES: The proper person to sign forms, notices and requests would normally be the owner. Who is AXA Equitable? 9 EQUI-VEST(SM) at a glance -- key features - ------------------------------------------------------------------------------------------------------------------------------------ Professional investment EQUI-VEST(SM) variable investment options invest in different portfolios sub-advised by professional management investment advisers. - ------------------------------------------------------------------------------------------------------------------------------------ Guaranteed interest option o Principal and interest guarantees o Interest rates set periodically - ------------------------------------------------------------------------------------------------------------------------------------ Fixed maturity options o 10 (7 in Oregon) fixed maturity options with maturities ranging from approximately 1 to 10 (1 to 7 in Oregon) years. o Each fixed maturity option offers a guarantee of principal and interest rate if you hold it to maturity. ------------------------------------------------------------------------------------------------------- If you make any withdrawals (including transfers, surrender or termination of your contract or when we make deductions for charges) from a fixed maturity option before it matures, we will make a market value adjustment, which will increase or decrease any fixed maturity amount you have in that fixed maturity option. - ------------------------------------------------------------------------------------------------------------------------------------ Tax advantages o On earnings inside the No tax until you make withdrawals from your contract or receive annuity contract payments. o On transfers inside the No tax on transfers among investment options. contract ------------------------------------------------------------------------------------------------------- If you are purchasing an annuity contract as an Individual Retirement Annuity (IRA), you should be aware that such annuities do not provide tax deferral benefits beyond those already provided by the Internal Revenue Code for individual retirement arrangements. Before purchasing one of these contracts, you should consider whether its features and benefits beyond tax deferral meet your needs and goals. You may also want to consider the relative features, benefits and costs of these contracts with any other investment that you may use in connection with your retirement plan or arrangement. (For more information, see "Tax information" later in this prospectus.) - ------------------------------------------------------------------------------------------------------------------------------------ Contribution amounts For new purchasers: o NQ: $1,000 (initial minimum amount) or $50 (initial minimum amount for payroll deduction); $50 (additional minimum amount). o traditional IRA and Roth IRA: --series 100 - $20 (initial and additional minimum amounts); --series 300 - $50 (initial and additional minimum amounts). For existing contract owners: o traditional IRA, Roth IRA and Roth Advantage: --series 100 and 200 - $20 (additional minimum amount only); --series 300, 400 and 500 - $50 (additional minimum amount only). o QP IRA: --series 100 and 200 -- $1,000 minimum amount each additional rollover amount; --series 300 and 400 -- $2,500 minimum amount each additional rollover amount. o Maximum contribution limitations may apply. In general, contributions are limited to $1.5 million under all EQUI-VEST(SM) series and EQUI-VEST(SM) At Retirement contracts with the same owner or annuitant ($500,000 for owners or annuitants who are age 81 and older at contract issue). - ------------------------------------------------------------------------------------------------------------------------------------ Access to your money o Partial withdrawals o Several withdrawal options on a periodic basis o Contract surrender You may incur a withdrawal charge for certain withdrawals or if you surrender your contract. You may also incur income tax and a penalty tax. - ------------------------------------------------------------------------------------------------------------------------------------ Payout options o Fixed annuity payout options o Variable Immediate Annuity payout options (described in a separate prospectus for that option). - ------------------------------------------------------------------------------------------------------------------------------------
10 EQUI-VEST(SM) at a glance -- key features - ------------------------------------------------------------------------------------------------------------------------------------ Additional features o Dollar-cost averaging by automatic transfers -- Interest sweep option -- Fixed-dollar option o Automatic investment program o Account value rebalancing (quarterly, semiannually, and annually) o No charge on transfers among investment options o Waiver of withdrawal charge under certain circumstances o Minimum death benefit - ------------------------------------------------------------------------------------------------------------------------------------ Fees and charges o Daily charge on amounts invested in variable investment options for mortality and expense risks and other expenses at current annual rates determined by contract series. series 100 and 200: 1.34%; two options at 1.40%, currently (maximum of 1.49%). series 300 and 400: 1.34%; four options at 1.35% (maximum of 2.00% for series 400). series 500: 1.45% (maximum of 2.00%). o Annual administrative charge:* series 100 and 200: $30 or 2% of the account value plus any amounts previously withdrawn during the contract year, if less. series 300, 400 and 500: $30 ($65 maximum) or, during the first two contract years, 2% of the account value plus any amounts previously withdrawn during the contract year if less; thereafter, $30. *For individuals who own multiple contracts with combined account values of over $100,000, this charge may be waived. See "Annual administrative charge" in "Charges and expenses" later in this prospectus. o Charge for third-party transfer (such as in the case of a trustee-to-trustee transfer for an IRA contract), or exchange (if your contract is exchanged for a contract issued by another insurance company): series 100 and 200: None series 300, 400 and 500: $25 current ($65 maximum) per occurrence. o No sales charge deducted at the time you make contributions. o Series 300, 400 and 500 and NQ contracts under series 100 and 200: we deduct a charge equal to 6% of contributions that have been withdrawn if such contributions were made in the current and five prior contract years. o IRAs under series 100 and 200: -- 6% of the amount withdrawn, generally declining for the first through 12th contract years. The total of all withdrawal charges may not exceed 8% of all contributions made during a specified period before the withdrawal is made. o There is no charge in any contract year (after the third contract year or age 59-1/2 in series 100 and 200 IRA, however, we currently waive this restriction) in which the amount withdrawn does not exceed 10% of your account value at the time of your withdrawal request minus prior withdrawals in that contract year. Under certain circumstances the withdrawal charge will not apply. The circumstances are discussed in "Charges and expenses" later in this prospectus. ------------------------------------------------------------------------------------------------------- The "contract date" is the effective date of a contract. This usually is the business day we receive the properly completed and signed application, along with any other required documents, and your initial contribution. Your contract date will be shown in your contract. The 12-month period beginning on your contract date and each 12-month period after that date is a "contract year." The end of each 12-month period is your "contract date anniversary." For example, if your contract date is May 1, your contract date anniversary is April 30. ------------------------------------------------------------------------------------------------------- o We deduct a charge designed to approximate certain taxes that may be imposed on us, such as premium taxes in your state. The charge is generally deducted from the amount applied to an annuity payout option. o We deduct a $350 annuity administrative fee from amounts applied to a Variable Immediate Annuity payout option. This option is described in a separate prospectus that is available from your financial professional o Annual expenses of the Trusts' portfolios are calculated as a percentage of the average daily net assets invested in each portfolio. Please see "Fee table" later in this prospectus for details. - ------------------------------------------------------------------------------------------------------------------------------------ Annuitant issue ages 0-83 - ------------------------------------------------------------------------------------------------------------------------------------
EQUI-VEST(SM) at a glance -- key features 11 THE ABOVE IS NOT A COMPLETE DESCRIPTION OF ALL MATERIAL PROVISIONS OF THE CONTRACT. IN SOME CASES RESTRICTIONS OR EXCEPTIONS APPLY. MAXIMUM EXPENSE LIMITATIONS APPLY TO CERTAIN VARIABLE INVESTMENT OPTIONS, AND RIGHTS ARE RESERVED TO CHANGE OR WAIVE CERTAIN CHARGES WITHIN SPECIFIED LIMITS. ALSO, ALL FEATURES OF THE CONTRACT, INCLUDING ALL VARIABLE INVESTMENT OPTIONS, ARE NOT NECESSARILY AVAILABLE IN YOUR STATE OR AT CERTAIN AGES OR UNDER YOUR INVESTMENT METHOD. (SEE "SELECTING YOUR INVESTMENT METHOD" LATER IN THIS PROSPECTUS). For more detailed information we urge you to read the contents of this prospectus, as well as your contract. This prospectus provides a description of all material provisions of the contract. Please feel free to speak with your financial professional, or call us, if you have any questions. If for any reason you are not satisfied with your contract, you may return it to us for a refund within a certain number of days. Please see "Your right to cancel within a certain number of days" later in this prospectus for additional information. OTHER CONTRACTS We offer a variety of fixed and variable annuity contracts. They may offer features, including investment options, credits, fees and/or charges that are different from those in the contracts offered by this prospectus. Not every contract is offered through the same Selling broker-dealer. Some Selling broker-dealers may not offer and/or limit the offering of certain features or options, as well as limit the availability of the contracts, based on issue age or other criteria established by the Selling broker-dealer. Upon request, your financial professional can show you information regarding other AXA Equitable annuity contracts that he or she distributes. You can also contact us to find out more about the availability of any of the AXA Equitable annuity contracts. You should work with your financial professional to decide whether an optional benefit is appropriate for you based on a thorough analysis of your particular insurance needs, financial objectives, investment goals, time horizons and risk tolerance. Some Selling broker-dealers may limit their clients from purchasing some optional benefits based upon the client's age. 12 EQUI-VEST(SM) at a glance -- key features Fee table - -------------------------------------------------------------------------------- The following tables describe the fees and expenses that you will pay when buying, owning, and surrendering the contract. Each of the charges and expenses is more fully described in "Charges and expenses" later in this prospectus. The first table describes fees and expenses that you will pay at the time that you surrender the contract, make certain withdrawals, purchase a Variable Immediate Annuity payout option or make certain transfers and exchanges. Charges designed to approximate certain taxes that may be imposed on us, such as premium taxes in your state, may also apply. Charges for certain features shown in the fee table are mutually exclusive. - ------------------------------------------------------------------------------------------------------------------------------------ Charges we deduct from your account value at the time you request certain transactions - ------------------------------------------------------------------------------------------------------------------------------------ Maximum withdrawal charge as a percentage of contributions withdrawn or amounts withdrawn depending on the contract and series (deducted if you surren- der your contract or make certain withdrawals).(1) 6.00% Charge for third-party transfer or exchange series 100 and 200: None series 300, 400 and 500: $65 maximum for each occur- rence; currently $25 for each occurrence. Charge if you elect a Variable Immediate Annuity payout option (which is described $350 in a separate prospectus for that option) - ------------------------------------------------------------------------------------------------------------------------------------ Charges we deduct from your account value on each contract date anniversary - ------------------------------------------------------------------------------------------------------------------------------------ Maximum annual administrative charge: $65 ($30 current)(2) The next table describes the fees and expenses that you will pay periodically during the time that you own the contract, not including underlying Trust portfolio fees and expenses.
- ------------------------------------------------------------------------------------------------------------------------------------ Charges we deduct from your variable investment options expressed as an annual percentage of daily net assets - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Common Stock and Separate account EQ/Money Market Options All other Variable Investment Options ----------------------------------- ------------------------------------ annual expenses: series 100 series 200 series 100 series 200 ----------------- ----------------- -------------- -------------- Maximum mortality and 0.65% 1.24% 0.50% 1.09% expense risks(3) (currently (currently 0.56%) 1.15%) Maximum other expenses 0.84% 0.25% 0.84% 0.25% ------- ------- ------ ------ Maximum total Separate 1.49% 1.49% 1.34% 1.34% ======= ======= ====== ====== Account A annual expenses(5) (currently (currently 1.40%) 1.40%) Separate account All other Variable Investment Options ------------------------------------------------------------------- annual expenses: series 300 series 400 series 500 ----------------- ------------------------ ---------------- Maximum mortality and 1.10% 1.75% 1.75% expense risks(3) (currently (currently 1.10%) 1.20%) 0.25% 0.25% (currently (currently Maximum other expenses 0.24%)(4) 0.24%)(4) 0.25% ---------------- ----------------- --------------- Maximum total Separate 1.35% 2.00% 2.00% Account A annual expenses(5) ================= ================= =============== (currently (currently (currently 1.34%)(4) 1.34%)(4) 1.45%) - ------------------------------------------------------------------------------------------------------------------------------------
You also bear your proportionate share of all fees and expenses paid by a "portfolio" that corresponds to any variable investment option you areusing. This table shows the lowest and highest total operating expenses charged by any of the portfolios that you will pay periodically during the time that you own the contract. These fees and expenses are reflected in the portfolio's net asset value each day. Therefore, they reduce the invest- ment return of the portfolio and the related variable investment option. Actual fees and expenses are likely to fluctuate from year to year. More detail concerning each portfolio's fees and expenses is contained in the Trust prospectus for the portfolio. - ------------------------------------------------------------------------------------------------------------------------------------ Portfolio operating expenses expressed as an annual percentage of daily net assets - ------------------------------------------------------------------------------------------------------------------------------------ Total Annual Portfolio Operating Expenses for 2007 (expenses that are deducted Lowest Highest from portfolio assets including management fees, 12b-1 fees, service fees, and/or ------ ------ other expenses)(6) 0.38% 3.71%
Fee table 13 This table shows the fees and expenses for 2007 as an annual percentage of each portfolio's daily average net assets.
- ------------------------------------------------------------------------------------------------------------------------------------ Manage- ment 12b-1 Other Portfolio Name Fees(7) Fees(8) Expenses(9) - ------------------------------------------------------------------------------------------------------------------------------------ AXA Premier VIP Trust: - ------------------------------------------------------------------------------------------------------------------------------------ AXA Aggressive Allocation 0.10% 0.25% 0.17% AXA Conservative Allocation 0.10% 0.25% 0.21% AXA Conservative-Plus Allocation 0.10% 0.25% 0.19% AXA Moderate Allocation 0.10% -- 0.17% AXA Moderate-Plus Allocation 0.10% 0.25% 0.17% Multimanager Aggressive Equity 0.60% -- 0.19% Multimanager Core Bond 0.58% 0.25% 0.18% Multimanager Health Care 1.20% 0.25% 0.23% Multimanager High Yield 0.57% -- 0.19% Multimanager International Equity 1.00% 0.25% 0.23% Multimanager Large Cap Core Equity 0.89% 0.25% 0.21% Multimanager Large Cap Growth 0.90% 0.25% 0.22% Multimanager Large Cap Value 0.87% 0.25% 0.20% Multimanager Mid Cap Growth 1.10% 0.25% 0.20% Multimanager Mid Cap Value 1.09% 0.25% 0.20% Multimanager Small Cap Growth 1.05% 0.25% 0.27% Multimanager Small Cap Value 1.03% 0.25% 0.18% Multimanager Technology 1.20% 0.25% 0.22% Target 2015 Allocation 0.10% 0.25% 1.71% Target 2025 Allocation 0.10% 0.25% 1.41% Target 2035 Allocation 0.10% 0.25% 2.38% Target 2045 Allocation 0.10% 0.25% 2.81% - ------------------------------------------------------------------------------------------------------------------------------------ EQ Advisors Trust: - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Common Stock 0.47% -- 0.13% EQ/AllianceBernstein Intermediate Government Securities 0.50% -- 0.13% EQ/AllianceBernstein International 0.71% -- 0.18% EQ/AllianceBernstein Large Cap Growth 0.90% 0.25% 0.13% EQ/AllianceBernstein Quality Bond 0.50% -- 0.14% EQ/AllianceBernstein Small Cap Growth 0.74% -- 0.13% EQ/AllianceBernstein Value 0.59% -- 0.12% EQ/Ariel Appreciation II 0.75% 0.25% 0.26% EQ/AXA Rosenberg Value Long/Short Equity 1.40% 0.25% 1.91% EQ/BlackRock Basic Value Equity 0.55% 0.25% 0.13% EQ/BlackRock International Value 0.81% 0.25% 0.19% EQ/Boston Advisors Equity Income 0.75% 0.25% 0.14% EQ/Calvert Socially Responsible 0.65% 0.25% 0.23% EQ/Capital Guardian Growth 0.65% 0.25% 0.14% EQ/Capital Guardian Research 0.63% 0.25% 0.13% EQ/Caywood-Scholl High Yield Bond 0.60% 0.25% 0.16% EQ/Davis New York Venture 0.85% 0.25% 0.18% EQ/Equity 500 Index 0.25% -- 0.13% EQ/Evergreen International Bond 0.70% 0.25% 0.17% EQ/Evergreen Omega 0.65% 0.25% 0.25% EQ/FI Mid Cap 0.68% 0.25% 0.13% EQ/Franklin Income 0.90% 0.25% 0.15% EQ/Franklin Small Cap Value 0.90% 0.25% 0.18% EQ/Franklin Templeton Founding Strategy 0.05% 0.25% 0.22% EQ/GAMCO Mergers and Acquisitions 0.90% 0.25% 0.19% EQ/GAMCO Small Company Value 0.76% 0.25% 0.12% EQ/International Core PLUS 0.60% 0.25% 0.30% EQ/International Growth 0.85% 0.25% 0.27% EQ/JPMorgan Core Bond 0.43% 0.25% 0.13% EQ/JPMorgan Value Opportunities 0.60% 0.25% 0.14% EQ/Large Cap Core PLUS 0.50% 0.25% 0.25% EQ/Large Cap Growth PLUS 0.50% 0.25% 0.24% EQ/Legg Mason Value Equity 0.65% 0.25% 0.17% Total Acquired Annual Net Fund Expenses Fee Waiv- Annual Fees and (Before ers and/or Expenses Expenses Expense Expense (After (Underlying Limita- Reimburse- Expense Portfolio Name Portfolios)(10) tions) ments(11) Limitations) - ------------------------------------------------------------------------------------------------------------------------------------ AXA Premier VIP Trust: - ------------------------------------------------------------------------------------------------------------------------------------ AXA Aggressive Allocation 0.92% 1.44% (0.17)% 1.27% AXA Conservative Allocation 0.69% 1.25% (0.21)% 1.04% AXA Conservative-Plus Allocation 0.76% 1.30% (0.19)% 1.11% AXA Moderate Allocation 0.82% 1.09% (0.17)% 0.92% AXA Moderate-Plus Allocation 0.86% 1.38% (0.17)% 1.21% Multimanager Aggressive Equity -- 0.79% - 0.79% Multimanager Core Bond -- 1.01% (0.01)% 1.00% Multimanager Health Care -- 1.68% 0.00% 1.68% Multimanager High Yield -- 0.76% - 0.76% Multimanager International Equity -- 1.48% 0.00% 1.48% Multimanager Large Cap Core Equity -- 1.35% 0.00% 1.35% Multimanager Large Cap Growth -- 1.37% (0.02)% 1.35% Multimanager Large Cap Value -- 1.32% 0.00% 1.32% Multimanager Mid Cap Growth -- 1.55% 0.00% 1.55% Multimanager Mid Cap Value -- 1.54% 0.00% 1.54% Multimanager Small Cap Growth -- 1.57% (0.02)% 1.55% Multimanager Small Cap Value -- 1.46% 0.00% 1.46% Multimanager Technology 0.01% 1.68% 0.00% 1.68% Target 2015 Allocation 0.55% 2.61% (1.46)% 1.15% Target 2025 Allocation 0.55% 2.31% (1.16)% 1.15% Target 2035 Allocation 0.55% 3.28% (2.13)% 1.15% Target 2045 Allocation 0.55% 3.71% (2.56)% 1.15% - ------------------------------------------------------------------------------------------------------------------------------------ EQ Advisors Trust: - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Common Stock -- 0.60% -- 0.60% EQ/AllianceBernstein Intermediate Government Securities -- 0.63% -- 0.63% EQ/AllianceBernstein International -- 0.89% (0.04)% 0.85% EQ/AllianceBernstein Large Cap Growth -- 1.28% (0.23)% 1.05% EQ/AllianceBernstein Quality Bond -- 0.64% -- 0.64% EQ/AllianceBernstein Small Cap Growth -- 0.87% -- 0.87% EQ/AllianceBernstein Value -- 0.71% (0.01)% 0.70% EQ/Ariel Appreciation II -- 1.26% (0.11)% 1.15% EQ/AXA Rosenberg Value Long/Short Equity -- 3.56% 0.00% 3.56% EQ/BlackRock Basic Value Equity -- 0.93% 0.00% 0.93% EQ/BlackRock International Value -- 1.25% 0.00% 1.25% EQ/Boston Advisors Equity Income -- 1.14% (0.09)% 1.05% EQ/Calvert Socially Responsible -- 1.13% (0.08)% 1.05% EQ/Capital Guardian Growth 0.01% 1.05% (0.09)% 0.96% EQ/Capital Guardian Research -- 1.01% (0.06)% 0.95% EQ/Caywood-Scholl High Yield Bond -- 1.01% (0.01)% 1.00% EQ/Davis New York Venture -- 1.28% 0.00% 1.28% EQ/Equity 500 Index -- 0.38% -- 0.38% EQ/Evergreen International Bond -- 1.12% 0.00% 1.12% EQ/Evergreen Omega -- 1.15% 0.00% 1.15% EQ/FI Mid Cap -- 1.06% (0.06)% 1.00% EQ/Franklin Income -- 1.30% 0.00% 1.30% EQ/Franklin Small Cap Value -- 1.33% (0.03)% 1.30% EQ/Franklin Templeton Founding Strategy 1.05% 1.57% (0.12)% 1.45%(12) EQ/GAMCO Mergers and Acquisitions -- 1.34% 0.00% 1.34% EQ/GAMCO Small Company Value -- 1.13% 0.00% 1.13% EQ/International Core PLUS 0.04% 1.19% (0.05)% 1.14% EQ/International Growth -- 1.37% 0.00% 1.37% EQ/JPMorgan Core Bond -- 0.81% 0.00% 0.81% EQ/JPMorgan Value Opportunities -- 0.99% (0.04)% 0.95% EQ/Large Cap Core PLUS 0.02% 1.02% (0.05)% 0.97% EQ/Large Cap Growth PLUS 0.02% 1.01% (0.04)% 0.97% EQ/Legg Mason Value Equity -- 1.07% (0.07)% 1.00% - ------------------------------------------------------------------------------------------------------------------------------------
14 Fee table
- -------------------------------------------------------------------------------- Manage- ment 12b-1 Other Portfolio Name Fees(7) Fees(8) Expenses(9) - -------------------------------------------------------------------------------- EQ/Long Term Bond 0.40% 0.25% 0.13% EQ/Lord Abbett Growth and Income 0.65% 0.25% 0.16% EQ/Lord Abbett Large Cap Core 0.65% 0.25% 0.21% EQ/Lord Abbett Mid Cap Value 0.70% 0.25% 0.15% EQ/Marsico Focus 0.85% 0.25% 0.13% EQ/Mid Cap Value PLUS 0.55% 0.25% 0.24% EQ/Money Market 0.32% -- 0.13% EQ/Montag & Caldwell Growth 0.75% 0.25% 0.15% EQ/Mutual Shares 0.90% 0.25% 0.21% EQ/Oppenheimer Global 0.95% 0.25% 0.51% EQ/Oppenheimer Main Street Opportunity 0.85% 0.25% 0.45% EQ/Oppenheimer Main Street Small Cap 0.90% 0.25% 0.48% EQ/PIMCO Real Return 0.55% 0.25% 0.14% EQ/Short Duration Bond 0.43% 0.25% 0.15% EQ/Small Company Index 0.25% 0.25% 0.14% EQ/T. Rowe Price Growth Stock 0.79% 0.25% 0.14% EQ/Templeton Growth 0.95% 0.25% 0.20% EQ/UBS Growth and Income 0.75% 0.25% 0.16% EQ/Van Kampen Comstock 0.65% 0.25% 0.15% EQ/Van Kampen Emerging Markets Equity 1.11% 0.25% 0.28% EQ/Van Kampen Mid Cap Growth 0.70% 0.25% 0.15% EQ/Van Kampen Real Estate 0.90% 0.25% 0.21% - ------------------------------------------------------------------------------------------------ Total Acquired Annual Net Fund Expenses Fee Waiv- Annual Fees and (Before ers and/or Expenses Expenses Expense Expense (After (Underlying Limita- Reimburse- Expense Portfolio Name Portfolios)(10) tions) ments(11) Limitations) - ------------------------------------------------------------------------------------------------ EQ/Long Term Bond -- 0.78% 0.00% 0.78% EQ/Lord Abbett Growth and Income -- 1.06% (0.06)% 1.00% EQ/Lord Abbett Large Cap Core -- 1.11% (0.11)% 1.00% EQ/Lord Abbett Mid Cap Value -- 1.10% (0.05)% 1.05% EQ/Marsico Focus -- 1.23% (0.08)% 1.15% EQ/Mid Cap Value PLUS 0.02% 1.06% (0.04)% 1.02% EQ/Money Market -- 0.45% -- 0.45% EQ/Montag & Caldwell Growth -- 1.15% 0.00% 1.15% EQ/Mutual Shares -- 1.36% (0.06)% 1.30% EQ/Oppenheimer Global 0.01% 1.72% (0.36)% 1.36% EQ/Oppenheimer Main Street Opportunity 0.01% 1.56% (0.25)% 1.31% EQ/Oppenheimer Main Street Small Cap 0.01% 1.64% (0.33)% 1.31% EQ/PIMCO Real Return -- 0.94% (0.04)% 0.90% EQ/Short Duration Bond -- 0.83% 0.00% 0.83% EQ/Small Company Index -- 0.64% 0.00% 0.64% EQ/T. Rowe Price Growth Stock -- 1.18% (0.03)% 1.15% EQ/Templeton Growth -- 1.40% (0.05)% 1.35% EQ/UBS Growth and Income -- 1.16% (0.11)% 1.05% EQ/Van Kampen Comstock -- 1.05% (0.05)% 1.00% EQ/Van Kampen Emerging Markets Equity -- 1.64% 0.00% 1.64% EQ/Van Kampen Mid Cap Growth -- 1.10% (0.05)% 1.05% EQ/Van Kampen Real Estate -- 1.36% (0.10)% 1.26% - ------------------------------------------------------------------------------------------------
Notes: (1) Important exceptions and limitations may eliminate or reduce this charge. For a complete description of withdrawal charges, please see "Withdrawal Charge" in "Charges and expenses," later in this prospectus. (2) For series 300, 400 and 500 contracts, during the first two contract years this charge, if it applies, is equal to the lesser of $30 or 2% of your account value, plus any amounts pre viously withdrawn during the contract year. Thereafter, the charge is $30 for each contract year. For series 100 and 200 contracts, the charge is equal to the lesser of $30 or 2% of your account value, plus any amounts previously withdrawn during the contract year. (3) A portion of this charge is for providing the death benefit. (4) For the series 300 and 400 contracts, although the charge is 0.25%, we currently charge 0.24% for all the variable investment options except the AXA Moderate Allocation, Mul timanager Aggressive Equity, EQ/AllianceBernstein Common Stock and the EQ/Money Market options (we reserve the right to increase this charge to 0.25% for all the variable investment options at our discretion). For series 100 and 200 contracts, this charge is for financial accounting and other administrative services relating to the contracts. (5) For series 100 and 200 contracts, the total Separate Account A annual expenses of the variable investment options and total annual expenses of the Trust when added together are not permitted to exceed an annual rate of 1.75% for the AXA Moderate Allocation, Multimanager Aggressive Equity, EQ/AllianceBernstein Common Stock, and EQ/Money Market options. Without this expense limitation, the total annual expenses deducted from the variable investment option plus the Trust's annual expenses for 2007 would have been 2.43% for the AXA Moderate Allocation option; 2.13% for the Multimanager Aggressive Equity option; 2.00% for the EQ/AllianceBernstein Common Stock option; and 1.85% for the EQ/Money Market option. (6) "Total Annual Portfolio Operating Expenses" are based, in part, on estimated amounts for options added during the fiscal year 2007 and for the underlying portfolios. (7) The management fees for each portfolio cannot be increased without a vote of that portfolio's shareholders. See footnote (11) for any expense limitation agreement information. (8) Portfolio shares are subject to fees imposed under the distribution plans (the "Rule 12b-1 Plan") adopted by the Trusts pursuant to Rule 12b-1 under the Investment Company Act of 1940. For the portfolios of the AXA Premier VIP Trust and the EQ Advisors Trust, the 12b-1 fees will not be increased for the life of the contract. A "--" indicates that there is no Rule 12b-1 Plan in place for the portfolio shown. (9) The amounts shown in "Other Expenses" will fluctuate from year to year depending on actual expenses. See footnote (11) for any expense limitation agreement information. (10) Each of these variable investment options invests in a corresponding portfolio of one of the Trusts or other unaffiliated investment companies. Each portfolio, in turn, invests in shares of other portfolios of the Trusts and/or shares of unaffiliated portfolios ("underlying portfolios"). Amounts shown reflect each portfolio's pro rata share of the fees and expenses of the underlying portfolio(s) in which it invests. A "--" indicates that the listed portfolio does not invest in underlying portfolios. (11) The amounts shown reflect any fee waivers and/or expense reimbursements that apply to each portfolio. A "--" indicates that there is no expense limitation in effect, and "0.00%" indicates that the expense limitation arrangement did not result in a fee waiver or reimbursement. AXA Equitable, the investment manager of AXA Premier VIP Trust and EQ Advisors Trust, has entered into expense limitation agreements with respect to certain portfolios, which are effective through April 30, 2009 (unless the Board of Trustees of AXA Premier VIP Trust or EQ Advisors Trust, as applicable, consents to an earlier revision or termination of this arrangement). Under these agreements, AXA Equitable has agreed to waive or limit its fees and assume other expenses of certain portfolios, if necessary, in an amount that limits such portfolio's Total Annual Expenses (exclusive of interest, taxes, brokerage commissions, capitalized expenditures, expenses of the underlying portfolios in which the portfolio invests and extraordinary expenses) to not more than the amounts specified in the agreements. Therefore, each portfolio may at a later date make a reimbursement to AXA Equitable for any of the management fees waived or limited and other expenses assumed and paid by AXA Equitable pursuant to the expense limitation agreements provided that the portfolio's current annual operating expenses do not exceed the operating expense limit determined for such portfolio. In addition, a portion of the brokerage commissions of certain portfolios of AXA Premier VIP Trust and EQ Advisors Trust is used to reduce the applicable portfolio's expenses. If the above table reflected both the expense limitation arrangements plus the portion of the brokerage commissions used to reduce portfolio expenses, the net expenses would be as shown in the table below: Fee table 15 --------------------------------------------- Portfolio Name --------------------------------------------- Multimanager Aggressive Equity 0.72% --------------------------------------------- Multimanager Health Care 1.67% --------------------------------------------- Multimanager Large Cap Core Equity 1.34% --------------------------------------------- Multimanager Large Cap Growth 1.29% --------------------------------------------- Multimanager Large Cap Value 1.26% --------------------------------------------- Multimanager Mid Cap Growth 1.52% --------------------------------------------- Multimanager Mid Cap Value 1.53% --------------------------------------------- Multimanager Small Cap Growth 1.35% --------------------------------------------- Multimanager Small Cap Value 1.45% --------------------------------------------- Multimanager Technology 1.67% --------------------------------------------- EQ/AllianceBernstein Common Stock 0.59% --------------------------------------------- EQ/AllianceBernstein Large Cap Growth 1.03% --------------------------------------------- EQ/AllianceBernstein Small Cap Growth 0.86% --------------------------------------------- EQ/AllianceBernstein Value 0.62% --------------------------------------------- EQ/Ariel Appreciation II 1.09% --------------------------------------------- EQ/BlackRock Basic Value Equity 0.92% --------------------------------------------- EQ/Davis New York Venture 1.25% --------------------------------------------- EQ/Evergreen Omega 1.12% --------------------------------------------- EQ/GAMCO Mergers and Acquisitions 1.33% --------------------------------------------- EQ/GAMCO Small Company Value 1.10% --------------------------------------------- EQ/International Core PLUS 1.05% --------------------------------------------- EQ/Large Cap Core PLUS 0.83% --------------------------------------------- EQ/Large Cap Growth PLUS 0.82% --------------------------------------------- EQ/Legg Mason Value Equity 0.97% --------------------------------------------- EQ/Lord Abbett Growth and Income 0.98% --------------------------------------------- EQ/Lord Abbett Large Cap Core 0.99% --------------------------------------------- EQ/Lord Abbett Mid Cap Value 1.04% --------------------------------------------- EQ/Mid Cap Value PLUS 0.81% --------------------------------------------- EQ/Montag & Caldwell Growth 1.13% --------------------------------------------- EQ/T. Rowe Price Growth Stock 0.87% --------------------------------------------- EQ/UBS Growth and Income 1.04% --------------------------------------------- EQ/Van Kampen Comstock 0.99% --------------------------------------------- EQ/Van Kampen Mid Cap Growth 1.04% --------------------------------------------- (12) In addition to the fee waiver and/or expense reimbursement discussed in the footnote immediately above, AXA Equitable, voluntarily will waive all its management and adminis tration fees and reimburse all other expenses associated with the EQ/Franklin Templeton Founding Strategy Portfolio ("Portfolio") (exclusive of taxes, interest, brokerage commissions, capitalized expenses, expenses of the investment companies in which the Portfolio invests, Rule 12b-1 fees and extraordinary expenses). Accordingly, the Total Annual Operating Expenses (including Acquired Fund Fees and Expenses), taking into account the voluntary waiver by AXA Equitable, will be 1.30%. The voluntary waiver by AXA Equitable will remain in effect until April 30, 2009. EXAMPLES These examples are intended to help you compare the cost of investing in each type of series contract with the cost of investing in other variable annuity contracts. These costs include contract owner transaction expenses, contract fees, separate account annual expenses, and underlying Trust fees and expenses (including underlying portfolio fees and expenses). For a complete description of portfolio charges and expenses, please see the prospectus for each Trust. The examples below show the expenses that a hypothetical contract owner would pay in the situations illustrated. The examples use an average annual administrative charge based on charges paid in 2007, which results in an estimated annual charge of 0.0643% of contract value. The fixed maturity options and the guaranteed interest option are not covered by the fee table and examples. However, the annual administrative charge, the withdrawal charge, the third party transfer or exchange charge, and the charge if you elect a Variable Immediate Annuity payout option do apply to the fixed maturity options and the guaranteed interest option. A market value adjustment (up or down) will apply as a result of a withdrawal, transfer, or surrender of amounts from a fixed maturity option. These examples should not be considered a representation of past or future expenses for any option. 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. The examples assume that you invest $10,000 in the contract for the time periods indicated and that your investment has a 5% return each year. The examples also assume (i) maximum contract charges rather than the lower current expenses discussed in "Charges and expenses" later in this prospectus (except the annual administrative charge which is described above); (ii) the total annual expenses of the portfolios (before expense limitations) set forth in the previous tables; and (iii) there is no waiver of the withdrawal charge. Although your actual costs may be higher or lower, based on these assumptions, your costs would be: 16 Fee table EQUI-VEST(SM) SERIES 100 AND 200 CONTRACTS -- FOR IRA CONTRACTS - ------------------------------------------------------------------------------------------------------
If you surrender your contract at the end of the applicable time period 1 year 3 years 5 years 10 years - ------------------------------------------------------------------------------------------------------ AXA PREMIER VIP TRUST: - ------------------------------------------------------------------------------------------------------ AXA Aggressive Allocation $ 849 $1,487 $2,150 $3,600 AXA Conservative Allocation $ 830 $1,431 $2,058 $3,416 AXA Conservative-Plus Allocation $ 835 $1,446 $2,083 $3,465 AXA Moderate Allocation $ 747 $1,181 $1,642 $2,558 AXA Moderate-Plus Allocation $ 843 $1,469 $2,121 $3,542 Multimanager Aggressive Equity $ 747 $1,181 $1,642 $2,558 Multimanager Core Bond $ 807 $1,360 $1,941 $3,178 Multimanager Health Care $ 873 $1,557 $2,266 $3,827 Multimanager High Yield $ 782 $1,286 $1,817 $2,925 Multimanager International Equity $ 853 $1,499 $2,170 $3,638 Multimanager Large Cap Core Equity $ 840 $1,460 $2,107 $3,513 Multimanager Large Cap Growth $ 842 $1,466 $2,116 $3,533 Multimanager Large Cap Value $ 837 $1,452 $2,092 $3,484 Multimanager Mid Cap Growth $ 860 $1,519 $2,203 $3,705 Multimanager Mid Cap Value $ 859 $1,516 $2,199 $3,695 Multimanager Small Cap Growth $ 862 $1,525 $2,213 $3,724 Multimanager Small Cap Value $ 851 $1,493 $2,160 $3,619 Multimanager Technology $ 873 $1,557 $2,266 $3,827 Target 2015 Allocation $ 965 $1,827 $2,701 $4,657 Target 2025 Allocation $ 936 $1,740 $2,563 $4,398 Target 2035 Allocation $1,032 $2,017 $3,004 $5,206 Target 2045 Allocation $1,075 $2,138 $3,194 $5,539 - --------------------------------------------------------- ------ ------ ------ ------ EQ ADVISORS TRUST: - ------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Common Stock $ 747 $1,181 $1,642 $2,558 EQ/AllianceBernstein Intermediate Government Securities $ 769 $1,247 $1,752 $2,790 EQ/AllianceBernstein International $ 795 $1,324 $1,882 $3,057 EQ/AllianceBernstein Large Cap Growth $ 833 $1,440 $2,073 $3,445 EQ/AllianceBernstein Quality Bond $ 770 $1,250 $1,757 $2,801 EQ/AllianceBernstein Small Cap Growth $ 793 $1,318 $1,872 $3,037 EQ/AllianceBernstein Value $ 777 $1,271 $1,792 $2,873 EQ/Ariel Appreciation II $ 831 $1,434 $2,063 $3,426 EQ/AXA Rosenberg Value Long/Short Equity $1,060 $2,096 $3,128 $5,425 EQ/BlackRock Basic Value Equity $ 799 $1,336 $1,901 $3,098 EQ/BlackRock International Value $ 830 $1,431 $2,058 $3,416 EQ/Boston Advisors Equity Income $ 820 $1,398 $2,005 $3,308 EQ/Calvert Socially Responsible $ 819 $1,395 $2,000 $3,298 EQ/Capital Guardian Growth $ 811 $1,372 $1,960 $3,218 EQ/Capital Guardian Research $ 807 $1,360 $1,941 $3,178 EQ/Caywood-Scholl High Yield Bond $ 807 $1,360 $1,941 $3,178 EQ/Davis New York Venture $ 833 $1,440 $2,073 $3,445 EQ/Equity 500 Index $ 744 $1,172 $1,626 $2,526 EQ/Evergreen International Bond $ 818 $1,392 $1,995 $3,288 EQ/Evergreen Omega $ 821 $1,401 $2,009 $3,318 --------------------------------------------------------------------------------------------------------------------------- If you do not surrender your contract at the end of If you annuitize at the end of the the applicable time applicable time period(1) period ----------------------------------------------------------------- 1 year 3 years 5 years 10 years 1 year 3 years AXA PREMIER VIP TRUST: - --------------------------------------------------------------------------------------------------------------------------- AXA Aggressive Allocation N/A $1,487 $2,150 $3,600 $298 $ 914 AXA Conservative Allocation N/A $1,431 $2,058 $3,416 $279 $ 854 AXA Conservative-Plus Allocation N/A $1,446 $2,083 $3,465 $284 $ 870 AXA Moderate Allocation N/A $1,181 $1,642 $2,558 $190 $ 589 AXA Moderate-Plus Allocation N/A $1,469 $2,121 $3,542 $292 $ 895 Multimanager Aggressive Equity N/A $1,181 $1,642 $2,558 $190 $ 589 Multimanager Core Bond N/A $1,360 $1,941 $3,178 $253 $ 779 Multimanager Health Care N/A $1,557 $2,266 $3,827 $324 $ 988 Multimanager High Yield N/A $1,286 $1,817 $2,925 $227 $ 700 Multimanager International Equity N/A $1,499 $2,170 $3,638 $303 $ 926 Multimanager Large Cap Core Equity N/A $1,460 $2,107 $3,513 $289 $ 885 Multimanager Large Cap Growth N/A $1,466 $2,116 $3,533 $291 $ 892 Multimanager Large Cap Value N/A $1,452 $2,092 $3,484 $286 $ 876 Multimanager Mid Cap Growth N/A $1,519 $2,203 $3,705 $310 $ 948 Multimanager Mid Cap Value N/A $1,516 $2,199 $3,695 $309 $ 945 Multimanager Small Cap Growth N/A $1,525 $2,213 $3,724 $312 $ 954 Multimanager Small Cap Value N/A $1,493 $2,160 $3,619 $301 $ 920 Multimanager Technology N/A $1,557 $2,266 $3,827 $324 $ 988 Target 2015 Allocation N/A $1,827 $2,701 $4,657 $421 $1,274 Target 2025 Allocation N/A $1,740 $2,563 $4,398 $390 $1,182 Target 2035 Allocation N/A $2,017 $3,004 $5,206 $492 $1,476 Target 2045 Allocation N/A $2,138 $3,194 $5,539 $537 $1,604 - --------------------------------------------------------------------------------------------------------------------------- EQ ADVISORS TRUST: - --------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock N/A $1,181 $1,642 $2,558 $190 $ 589 EQ/AllianceBernstein Intermediate Government Securities N/A $1,247 $1,752 $2,790 $213 $ 659 EQ/AllianceBernstein International N/A $1,324 $1,882 $3,057 $241 $ 741 EQ/AllianceBernstein Large Cap Growth N/A $1,440 $2,073 $3,445 $282 $ 864 EQ/AllianceBernstein Quality Bond N/A $1,250 $1,757 $2,801 $215 $ 662 EQ/AllianceBernstein Small Cap Growth N/A $1,318 $1,872 $3,037 $239 $ 735 EQ/AllianceBernstein Value N/A $1,271 $1,792 $2,873 $222 $ 684 EQ/Ariel Appreciation II N/A $1,434 $2,063 $3,426 $280 $ 857 EQ/AXA Rosenberg Value Long/Short Equity N/A $2,096 $3,128 $5,425 $521 $1,559 EQ/BlackRock Basic Value Equity N/A $1,336 $1,901 $3,098 $245 $ 754 EQ/BlackRock International Value N/A $1,431 $2,058 $3,416 $279 $ 854 EQ/Boston Advisors Equity Income N/A $1,398 $2,005 $3,308 $267 $ 820 EQ/Calvert Socially Responsible N/A $1,395 $2,000 $3,298 $266 $ 817 EQ/Capital Guardian Growth N/A $1,372 $1,960 $3,218 $258 $ 791 EQ/Capital Guardian Research N/A $1,360 $1,941 $3,178 $253 $ 779 EQ/Caywood-Scholl High Yield Bond N/A $1,360 $1,941 $3,178 $253 $ 779 EQ/Davis New York Venture N/A $1,440 $2,073 $3,445 $282 $ 864 EQ/Equity 500 Index N/A $1,172 $1,626 $2,526 $187 $ 579 EQ/Evergreen International Bond N/A $1,392 $1,995 $3,288 $265 $ 813 EQ/Evergreen Omega N/A $1,401 $2,009 $3,318 $268 $ 823 - ---------------------------------------------------------------------------------- If you do not surrender your contract at the end of the applicable time period - ---------------------------------------------------------------------------------- 5 years 10 years AXA PREMIER VIP TRUST: - ---------------------------------------------------------------------------------- AXA Aggressive Allocation $1,554 $3,270 AXA Conservative Allocation $1,456 $3,080 AXA Conservative-Plus Allocation $1,482 $3,130 AXA Moderate Allocation $1,013 $2,192 AXA Moderate-Plus Allocation $1,523 $3,211 Multimanager Aggressive Equity $1,013 $2,192 Multimanager Core Bond $1,331 $2,834 Multimanager Health Care $1,676 $3,506 Multimanager High Yield $1,199 $2,571 Multimanager International Equity $1,574 $3,310 Multimanager Large Cap Core Equity $1,507 $3,181 Multimanager Large Cap Growth $1,518 $3,201 Multimanager Large Cap Value $1,492 $3,150 Multimanager Mid Cap Growth $1,610 $3,379 Multimanager Mid Cap Value $1,605 $3,369 Multimanager Small Cap Growth $1,620 $3,399 Multimanager Small Cap Value $1,564 $3,290 Multimanager Technology $1,676 $3,506 Target 2015 Allocation $2,140 $4,365 Target 2025 Allocation $1,992 $4,097 Target 2035 Allocation $2,462 $4,934 Target 2045 Allocation $2,664 $5,279 - ---------------------------------------------------------------------------------- EQ ADVISORS TRUST: - ---------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock $1,013 $2,192 EQ/AllianceBernstein Intermediate Government Securities $1,130 $2,432 EQ/AllianceBernstein International $1,268 $2,709 EQ/AllianceBernstein Large Cap Growth $1,471 $3,110 EQ/AllianceBernstein Quality Bond $1,136 $2,443 EQ/AllianceBernstein Small Cap Growth $1,257 $2,688 EQ/AllianceBernstein Value $1,173 $2,518 EQ/Ariel Appreciation II $1,461 $3,090 EQ/AXA Rosenberg Value Long/Short Equity $2,594 $5,160 EQ/BlackRock Basic Value Equity $1,289 $2,751 EQ/BlackRock International Value $1,456 $3,080 EQ/Boston Advisors Equity Income $1,399 $2,968 EQ/Calvert Socially Responsible $1,393 $2,958 EQ/Capital Guardian Growth $1,352 $2,875 EQ/Capital Guardian Research $1,331 $2,834 EQ/Caywood-Scholl High Yield Bond $1,331 $2,834 EQ/Davis New York Venture $1,471 $3,110 EQ/Equity 500 Index $ 997 $2,159 EQ/Evergreen International Bond $1,388 $2,947 EQ/Evergreen Omega $1,404 $2,978 - ----------------------------------------------------------------------------------
Fee table 17
- ---------------------------------------------------------------------------------------------------------------------------------- If you surrender your contract at the end of the If you annuitize at the end of the applicable time period applicable time period(1) ----------------------------------------------------------------------------------------- 1 year 3 years 5 years 10 years 1 year 3 years 5 years 10 years - ---------------------------------------------------------------------------------------------------------------------------------- EQ ADVISORS TRUST: - ---------------------------------------------------------------------------------------------------------------------------------- EQ/FI Mid Cap $812 $1,375 $1,965 $3,228 N/A $1,375 $1,965 $3,228 EQ/Franklin Income $835 $1,446 $2,083 $3,465 N/A $1,446 $2,083 $3,465 EQ/Franklin Small Cap Value $838 $1,454 $2,097 $3,494 N/A $1,454 $2,097 $3,494 EQ/Franklin Templeton Founding Strategy $862 $1,525 $2,213 $3,724 N/A $1,525 $2,213 $3,724 EQ/GAMCO Mergers and Acquisitions $839 $1,457 $2,102 $3,504 N/A $1,457 $2,102 $3,504 EQ/GAMCO Small Company Value $819 $1,395 $2,000 $3,298 N/A $1,395 $2,000 $3,298 EQ/International Core PLUS $825 $1,413 $2,029 $3,357 N/A $1,413 $2,029 $3,357 EQ/International Growth $842 $1,466 $2,116 $3,533 N/A $1,466 $2,116 $3,533 EQ/JPMorgan Core Bond $787 $1,300 $1,842 $2,976 N/A $1,300 $1,842 $2,976 EQ/JPMorgan Value Opportunities $805 $1,354 $1,931 $3,158 N/A $1,354 $1,931 $3,158 EQ/Large Cap Core PLUS $808 $1,363 $1,946 $3,188 N/A $1,363 $1,946 $3,188 EQ/Large Cap Growth PLUS $807 $1,360 $1,941 $3,178 N/A $1,360 $1,941 $3,178 EQ/Legg Mason Value Equity $813 $1,378 $1,970 $3,238 N/A $1,378 $1,970 $3,238 EQ/Long Term Bond $784 $1,291 $1,827 $2,945 N/A $1,291 $1,827 $2,945 EQ/Lord Abbett Growth and Income $812 $1,375 $1,965 $3,228 N/A $1,375 $1,965 $3,228 EQ/Lord Abbett Large Cap Core $817 $1,390 $1,990 $3,278 N/A $1,390 $1,990 $3,278 EQ/Lord Abbett Mid Cap Value $816 $1,387 $1,985 $3,268 N/A $1,387 $1,985 $3,268 EQ/Marsico Focus $828 $1,425 $2,048 $3,396 N/A $1,425 $2,048 $3,396 EQ/Mid Cap Value PLUS $812 $1,375 $1,965 $3,228 N/A $1,375 $1,965 $3,228 EQ/Money Market $747 $1,181 $1,642 $2,558 N/A $1,181 $1,642 $2,558 EQ/Montag & Caldwell Growth $821 $1,401 $2,009 $3,318 N/A $1,401 $2,009 $3,318 EQ/Mutual Shares $841 $1,463 $2,112 $3,523 N/A $1,463 $2,112 $3,523 EQ/Oppenheimer Global $877 $1,569 $2,285 $3,865 N/A $1,569 $2,285 $3,865 EQ/Oppenheimer Main Street Opportunity $861 $1,522 $2,208 $3,714 N/A $1,522 $2,208 $3,714 EQ/Oppenheimer Main Street Small Cap $869 $1,546 $2,247 $3,790 N/A $1,546 $2,247 $3,790 EQ/PIMCO Real Return $800 $1,339 $1,906 $3,108 N/A $1,339 $1,906 $3,108 EQ/Short Duration Bond $789 $1,306 $1,852 $2,996 N/A $1,306 $1,852 $2,996 EQ/Small Company Index $770 $1,250 $1,757 $2,801 N/A $1,250 $1,757 $2,801 EQ/T. Rowe Price Growth Stock $824 $1,410 $2,024 $3,347 N/A $1,410 $2,024 $3,347 EQ/Templeton Growth $845 $1,475 $2,131 $3,562 N/A $1,475 $2,131 $3,562 EQ/UBS Growth and Income $822 $1,404 $2,014 $3,328 N/A $1,404 $2,014 $3,328 EQ/Van Kampen Comstock $811 $1,372 $1,960 $3,218 N/A $1,372 $1,960 $3,218 EQ/Van Kampen Emerging Markets Equity $869 $1,546 $2,247 $3,790 N/A $1,546 $2,247 $3,790 EQ/Van Kampen Mid Cap Growth $816 $1,387 $1,985 $3,268 N/A $1,387 $1,985 $3,268 EQ/Van Kampen Real Estate $841 $1,463 $2,112 $3,523 N/A $1,463 $2,112 $3,523 - ---------------------------------------------------------------------------------------------------------------------------------- If you do not surrender your contract at the end of the applicable time period ------------------------------------------ 1 year 3 years 5 years 10 years - ------------------------------------------------------------------------------------- EQ ADVISORS TRUST: - ------------------------------------------------------------------------------------- EQ/FI Mid Cap $259 $ 795 $1,357 $2,886 EQ/Franklin Income $284 $ 870 $1,482 $3,130 EQ/Franklin Small Cap Value $287 $ 879 $1,497 $3,161 EQ/Franklin Templeton Founding Strategy $312 $ 954 $1,620 $3,399 EQ/GAMCO Mergers and Acquisitions $288 $ 882 $1,502 $3,171 EQ/GAMCO Small Company Value $266 $ 817 $1,393 $2,958 EQ/International Core PLUS $272 $ 835 $1,425 $3,019 EQ/International Growth $291 $ 892 $1,518 $3,201 EQ/JPMorgan Core Bond $232 $ 716 $1,226 $2,624 EQ/JPMorgan Value Opportunities $251 $ 773 $1,320 $2,813 EQ/Large Cap Core PLUS $254 $ 782 $1,336 $2,844 EQ/Large Cap Growth PLUS $253 $ 779 $1,331 $2,834 EQ/Legg Mason Value Equity $260 $ 798 $1,362 $2,896 EQ/Long Term Bond $229 $ 706 $1,210 $2,593 EQ/Lord Abbett Growth and Income $259 $ 795 $1,357 $2,886 EQ/Lord Abbett Large Cap Core $264 $ 810 $1,383 $2,937 EQ/Lord Abbett Mid Cap Value $263 $ 807 $1,378 $2,927 EQ/Marsico Focus $276 $ 848 $1,445 $3,060 EQ/Mid Cap Value PLUS $259 $ 795 $1,357 $2,886 EQ/Money Market $190 $ 589 $1,013 $2,192 EQ/Montag & Caldwell Growth $268 $ 823 $1,404 $2,978 EQ/Mutual Shares $290 $ 889 $1,513 $3,191 EQ/Oppenheimer Global $328 $1,001 $1,697 $3,544 EQ/Oppenheimer Main Street Opportunity $311 $ 951 $1,615 $3,389 EQ/Oppenheimer Main Street Small Cap $319 $ 976 $1,656 $3,467 EQ/PIMCO Real Return $246 $ 757 $1,294 $2,761 EQ/Short Duration Bond $234 $ 722 $1,236 $2,645 EQ/Small Company Index $215 $ 662 $1,136 $2,443 EQ/T. Rowe Price Growth Stock $271 $ 832 $1,419 $3,009 EQ/Templeton Growth $294 $ 901 $1,533 $3,231 EQ/UBS Growth and Income $269 $ 826 $1,409 $2,988 EQ/Van Kampen Comstock $258 $ 791 $1,352 $2,875 EQ/Van Kampen Emerging Markets Equity $319 $ 976 $1,656 $3,467 EQ/Van Kampen Mid Cap Growth $263 $ 807 $1,378 $2,927 EQ/Van Kampen Real Estate $290 $ 889 $1,513 $3,191 - -------------------------------------------------------------------------------------
(1) Please see "When withdrawal charges do not apply" in "Charges and expenses" later in this prospectus for more information on withdrawal charge waivers upon annuitization. 18 Fee table EQUI-VEST(SM) SERIES 100 AND 200 CONTRACTS -- FOR NQ CONTRACTS - -------------------------------------------------------------------------------------------------------
If you surrender your contract at the end of the applicable time period 1 year 3 years 5 years 10 years - ------------------------------------------------------------------------------------------------------- AXA PREMIER VIP TRUST: - ------------------------------------------------------------------------------------------------------- AXA Aggressive Allocation $ 849 $1,487 $2,150 $3,270 AXA Conservative Allocation $ 830 $1,431 $2,056 $3,080 AXA Conservative-Plus Allocation $ 835 $1,446 $2,082 $3,130 AXA Moderate Allocation $ 747 $1,181 $1,613 $2,192 AXA Moderate-Plus Allocation $ 843 $1,469 $2,121 $3,211 Multimanager Aggressive Equity $ 747 $1,181 $1,613 $2,192 Multimanager Core Bond $ 807 $1,360 $1,931 $2,834 Multimanager Health Care $ 873 $1,557 $2,266 $3,506 Multimanager High Yield $ 782 $1,286 $1,799 $2,571 Multimanager International Equity $ 853 $1,499 $2,170 $3,310 Multimanager Large Cap Core Equity $ 840 $1,460 $2,107 $3,181 Multimanager Large Cap Growth $ 842 $1,466 $2,116 $3,201 Multimanager Large Cap Value $ 837 $1,452 $2,092 $3,150 Multimanager Mid Cap Growth $ 860 $1,519 $2,203 $3,379 Multimanager Mid Cap Value $ 859 $1,516 $2,199 $3,369 Multimanager Small Cap Growth $ 862 $1,525 $2,213 $3,399 Multimanager Small Cap Value $ 851 $1,493 $2,160 $3,290 Multimanager Technology $ 873 $1,557 $2,266 $3,506 Target 2015 Allocation $ 965 $1,827 $2,701 $4,365 Target 2025 Allocation $ 936 $1,740 $2,563 $4,097 Target 2035 Allocation $1,032 $2,017 $3,004 $4,934 Target 2045 Allocation $1,075 $2,138 $3,194 $5,279 - ------------------------------------------------------------------------------------------------------- EQ ADVISORS TRUST: - ------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock $ 747 $1,181 $1,613 $2,192 EQ/AllianceBernstein Intermediate Government Securities $ 769 $1,247 $1,730 $2,432 EQ/AllianceBernstein International $ 795 $1,324 $1,868 $2,709 EQ/AllianceBernstein Large Cap Growth $ 833 $1,440 $2,071 $3,110 EQ/AllianceBernstein Quality Bond $ 770 $1,250 $1,736 $2,443 EQ/AllianceBernstein Small Cap Growth $ 793 $1,318 $1,857 $2,688 EQ/AllianceBernstein Value $ 777 $1,271 $1,773 $2,518 EQ/Ariel Appreciation II $ 831 $1,434 $2,061 $3,090 EQ/AXA Rosenberg Value Long/Short Equity $1,060 $2,096 $3,128 $5,160 EQ/BlackRock Basic Value Equity $ 799 $1,336 $1,889 $2,751 EQ/BlackRock International Value $ 830 $1,431 $2,056 $3,080 EQ/Boston Advisors Equity Income $ 820 $1,398 $1,999 $2,968 EQ/Calvert Socially Responsible $ 819 $1,395 $1,993 $2,958 EQ/Capital Guardian Growth $ 811 $1,372 $1,952 $2,875 EQ/Capital Guardian Research $ 807 $1,360 $1,931 $2,834 EQ/Caywood-Scholl High Yield Bond $ 807 $1,360 $1,931 $2,834 EQ/Davis New York Venture $ 833 $1,440 $2,071 $3,110 EQ/Equity 500 Index $ 744 $1,172 $1,597 $2,159 EQ/Evergreen International Bond $ 818 $1,392 $1,988 $2,947 EQ/Evergreen Omega $ 821 $1,401 $2,004 $2,978 If you do not surrender your contract at the end of If you annuitize at the end of the the applicable time applicable time period(1) period ----------------------------------------------------------------- 1 year 3 years 5 years 10 years 1 year 3 years - --------------------------------------------------------------------------------------------------------------------------- AXA PREMIER VIP TRUST: - --------------------------------------------------------------------------------------------------------------------------- AXA Aggressive Allocation N/A $1,487 $2,150 $3,270 $298 $ 914 AXA Conservative Allocation N/A $1,431 $2,056 $3,080 $279 $ 854 AXA Conservative-Plus Allocation N/A $1,446 $2,082 $3,130 $284 $ 870 AXA Moderate Allocation N/A $1,181 $1,613 $2,192 $190 $ 589 AXA Moderate-Plus Allocation N/A $1,469 $2,121 $3,211 $292 $ 895 Multimanager Aggressive Equity N/A $1,181 $1,613 $2,192 $190 $ 589 Multimanager Core Bond N/A $1,360 $1,931 $2,834 $253 $ 779 Multimanager Health Care N/A $1,557 $2,266 $3,506 $324 $ 988 Multimanager High Yield N/A $1,286 $1,799 $2,571 $227 $ 700 Multimanager International Equity N/A $1,499 $2,170 $3,310 $303 $ 926 Multimanager Large Cap Core Equity N/A $1,460 $2,107 $3,181 $289 $ 885 Multimanager Large Cap Growth N/A $1,466 $2,116 $3,201 $291 $ 892 Multimanager Large Cap Value N/A $1,452 $2,092 $3,150 $286 $ 876 Multimanager Mid Cap Growth N/A $1,519 $2,203 $3,379 $310 $ 948 Multimanager Mid Cap Value N/A $1,516 $2,199 $3,369 $309 $ 945 Multimanager Small Cap Growth N/A $1,525 $2,213 $3,399 $312 $ 954 Multimanager Small Cap Value N/A $1,493 $2,160 $3,290 $301 $ 920 Multimanager Technology N/A $1,557 $2,266 $3,506 $324 $ 988 Target 2015 Allocation N/A $1,827 $2,701 $4,365 $421 $1,274 Target 2025 Allocation N/A $1,740 $2,563 $4,097 $390 $1,182 Target 2035 Allocation N/A $2,017 $3,004 $4,934 $492 $1,476 Target 2045 Allocation N/A $2,138 $3,194 $5,279 $537 $1,604 - --------------------------------------------------------------------------------------------------------------------------- EQ ADVISORS TRUST: - --------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock N/A $1,181 $1,613 $2,192 $190 $ 589 EQ/AllianceBernstein Intermediate Government Securities N/A $1,247 $1,730 $2,432 $213 $ 659 EQ/AllianceBernstein International N/A $1,324 $1,868 $2,709 $241 $ 741 EQ/AllianceBernstein Large Cap Growth N/A $1,440 $2,071 $3,110 $282 $ 864 EQ/AllianceBernstein Quality Bond N/A $1,250 $1,736 $2,443 $215 $ 662 EQ/AllianceBernstein Small Cap Growth N/A $1,318 $1,857 $2,688 $239 $ 735 EQ/AllianceBernstein Value N/A $1,271 $1,773 $2,518 $222 $ 684 EQ/Ariel Appreciation II N/A $1,434 $2,061 $3,090 $280 $ 857 EQ/AXA Rosenberg Value Long/Short Equity N/A $2,096 $3,128 $5,160 $521 $1,559 EQ/BlackRock Basic Value Equity N/A $1,336 $1,889 $2,751 $245 $ 754 EQ/BlackRock International Value N/A $1,431 $2,056 $3,080 $279 $ 854 EQ/Boston Advisors Equity Income N/A $1,398 $1,999 $2,968 $267 $ 820 EQ/Calvert Socially Responsible N/A $1,395 $1,993 $2,958 $266 $ 817 EQ/Capital Guardian Growth N/A $1,372 $1,952 $2,875 $258 $ 791 EQ/Capital Guardian Research N/A $1,360 $1,931 $2,834 $253 $ 779 EQ/Caywood-Scholl High Yield Bond N/A $1,360 $1,931 $2,834 $253 $ 779 EQ/Davis New York Venture N/A $1,440 $2,071 $3,110 $282 $ 864 EQ/Equity 500 Index N/A $1,172 $1,597 $2,159 $187 $ 579 EQ/Evergreen International Bond N/A $1,392 $1,988 $2,947 $265 $ 813 EQ/Evergreen Omega N/A $1,401 $2,004 $2,978 $268 $ 823 - --------------------------------------------------------------------------------------------------------------------------- - ---------------------------------------------------------------------------------- If you do not surrender your contract at the end of the applicable time period -------------------------- 5 years 10 years - ---------------------------------------------------------------------------------- AXA PREMIER VIP TRUST: - ---------------------------------------------------------------------------------- AXA Aggressive Allocation $1,554 $3,270 AXA Conservative Allocation $1,456 $3,080 AXA Conservative-Plus Allocation $1,482 $3,130 AXA Moderate Allocation $1,013 $2,192 AXA Moderate-Plus Allocation $1,523 $3,211 Multimanager Aggressive Equity $1,013 $2,192 Multimanager Core Bond $1,331 $2,834 Multimanager Health Care $1,676 $3,506 Multimanager High Yield $1,199 $2,571 Multimanager International Equity $1,574 $3,310 Multimanager Large Cap Core Equity $1,507 $3,181 Multimanager Large Cap Growth $1,518 $3,201 Multimanager Large Cap Value $1,492 $3,150 Multimanager Mid Cap Growth $1,610 $3,379 Multimanager Mid Cap Value $1,605 $3,369 Multimanager Small Cap Growth $1,620 $3,399 Multimanager Small Cap Value $1,564 $3,290 Multimanager Technology $1,676 $3,506 Target 2015 Allocation $2,140 $4,365 Target 2025 Allocation $1,992 $4,097 Target 2035 Allocation $2,462 $4,934 Target 2045 Allocation $2,664 $5,279 - ---------------------------------------------------------------------------------- EQ ADVISORS TRUST: - ---------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock $1,013 $2,192 EQ/AllianceBernstein Intermediate Government Securities $1,130 $2,432 EQ/AllianceBernstein International $1,268 $2,709 EQ/AllianceBernstein Large Cap Growth $1,471 $3,110 EQ/AllianceBernstein Quality Bond $1,136 $2,443 EQ/AllianceBernstein Small Cap Growth $1,257 $2,688 EQ/AllianceBernstein Value $1,173 $2,518 EQ/Ariel Appreciation II $1,461 $3,090 EQ/AXA Rosenberg Value Long/Short Equity $2,594 $5,160 EQ/BlackRock Basic Value Equity $1,289 $2,751 EQ/BlackRock International Value $1,456 $3,080 EQ/Boston Advisors Equity Income $1,399 $2,968 EQ/Calvert Socially Responsible $1,393 $2,958 EQ/Capital Guardian Growth $1,352 $2,875 EQ/Capital Guardian Research $1,331 $2,834 EQ/Caywood-Scholl High Yield Bond $1,331 $2,834 EQ/Davis New York Venture $1,471 $3,110 EQ/Equity 500 Index $ 997 $2,159 EQ/Evergreen International Bond $1,388 $2,947 EQ/Evergreen Omega $1,404 $2,978 - ----------------------------------------------------------------------------------
Fee table 19
If you surrender your contract at the end of the If you annuitize at the end of the applicable time period applicable time period(1) ----------------------------------------------------------------------------------------- 1 year 3 years 5 years 10 years 1 year 3 years 5 years 10 years - ------------------------------------------------------------------------------------------------------------------------------------ EQ ADVISORS TRUST: - ------------------------------------------------------------------------------------------------------------------------------------ EQ/FI Mid Cap $812 $1,375 $1,957 $2,886 N/A $1,375 $1,957 $2,886 EQ/Franklin Income $835 $1,446 $2,082 $3,130 N/A $1,446 $2,082 $3,130 EQ/Franklin Small Cap Value $838 $1,454 $2,097 $3,161 N/A $1,454 $2,097 $3,161 EQ/Franklin Templeton Founding Strategy $862 $1,525 $2,213 $3,399 N/A $1,525 $2,213 $3,399 EQ/GAMCO Mergers and Acquisitions $839 $1,457 $2,102 $3,171 N/A $1,457 $2,102 $3,171 EQ/GAMCO Small Company Value $819 $1,395 $1,993 $2,958 N/A $1,395 $1,993 $2,958 EQ/International Core PLUS $825 $1,413 $2,025 $3,019 N/A $1,413 $2,025 $3,019 EQ/International Growth $842 $1,466 $2,116 $3,201 N/A $1,466 $2,116 $3,201 EQ/JPMorgan Core Bond $787 $1,300 $1,826 $2,624 N/A $1,300 $1,826 $2,624 EQ/JPMorgan Value Opportunities $805 $1,354 $1,920 $2,813 N/A $1,354 $1,920 $2,813 EQ/Large Cap Core PLUS $808 $1,363 $1,936 $2,844 N/A $1,363 $1,936 $2,844 EQ/Large Cap Growth PLUS $807 $1,360 $1,931 $2,834 N/A $1,360 $1,931 $2,834 EQ/Legg Mason Value Equity $813 $1,378 $1,962 $2,896 N/A $1,378 $1,962 $2,896 EQ/Long Term Bond $784 $1,291 $1,810 $2,593 N/A $1,291 $1,810 $2,593 EQ/Lord Abbett Growth and Income $812 $1,375 $1,957 $2,886 N/A $1,375 $1,957 $2,886 EQ/Lord Abbett Large Cap Core $817 $1,390 $1,983 $2,937 N/A $1,390 $1,983 $2,937 EQ/Lord Abbett Mid Cap Value $816 $1,387 $1,978 $2,927 N/A $1,387 $1,978 $2,927 EQ/Marsico Focus $828 $1,425 $2,045 $3,060 N/A $1,425 $2,045 $3,060 EQ/Mid Cap Value PLUS $812 $1,375 $1,957 $2,886 N/A $1,375 $1,957 $2,886 EQ/Money Market $747 $1,181 $1,613 $2,192 N/A $1,181 $1,613 $2,192 EQ/Montag & Caldwell Growth $821 $1,401 $2,004 $2,978 N/A $1,401 $2,004 $2,978 EQ/Mutual Shares $841 $1,463 $2,112 $3,191 N/A $1,463 $2,112 $3,191 EQ/Oppenheimer Global $877 $1,569 $2,285 $3,544 N/A $1,569 $2,285 $3,544 EQ/Oppenheimer Main Street Opportunity $861 $1,522 $2,208 $3,389 N/A $1,522 $2,208 $3,389 EQ/Oppenheimer Main Street Small Cap $869 $1,546 $2,247 $3,467 N/A $1,546 $2,247 $3,467 EQ/PIMCO Real Return $800 $1,339 $1,894 $2,761 N/A $1,339 $1,894 $2,761 EQ/Short Duration Bond $789 $1,306 $1,836 $2,645 N/A $1,306 $1,836 $2,645 EQ/Small Company Index $770 $1,250 $1,736 $2,443 N/A $1,250 $1,736 $2,443 EQ/T. Rowe Price Growth Stock $824 $1,410 $2,019 $3,009 N/A $1,410 $2,019 $3,009 EQ/Templeton Growth $845 $1,475 $2,131 $3,231 N/A $1,475 $2,131 $3,231 EQ/UBS Growth and Income $822 $1,404 $2,009 $2,988 N/A $1,404 $2,009 $2,988 EQ/Van Kampen Comstock $811 $1,372 $1,952 $2,875 N/A $1,372 $1,952 $2,875 EQ/Van Kampen Emerging Markets Equity $869 $1,546 $2,247 $3,467 N/A $1,546 $2,247 $3,467 EQ/Van Kampen Mid Cap Growth $816 $1,387 $1,978 $2,927 N/A $1,387 $1,978 $2,927 EQ/Van Kampen Real Estate $841 $1,463 $2,112 $3,191 N/A $1,463 $2,112 $3,191 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------- If you do not surrender your contract at the end of the applicable time period -------------------------------------------- 1 year 3 years 5 years 10 years - ------------------------------------------------------------------------------------- EQ ADVISORS TRUST: - ------------------------------------------------------------------------------------- EQ/FI Mid Cap $259 $ 795 $1,357 $2,886 EQ/Franklin Income $284 $ 870 $1,482 $3,130 EQ/Franklin Small Cap Value $287 $ 879 $1,497 $3,161 EQ/Franklin Templeton Founding Strategy $312 $ 954 $1,620 $3,399 EQ/GAMCO Mergers and Acquisitions $288 $ 882 $1,502 $3,171 EQ/GAMCO Small Company Value $266 $ 817 $1,393 $2,958 EQ/International Core PLUS $272 $ 835 $1,425 $3,019 EQ/International Growth $291 $ 892 $1,518 $3,201 EQ/JPMorgan Core Bond $232 $ 716 $1,226 $2,624 EQ/JPMorgan Value Opportunities $251 $ 773 $1,320 $2,813 EQ/Large Cap Core PLUS $254 $ 782 $1,336 $2,844 EQ/Large Cap Growth PLUS $253 $ 779 $1,331 $2,834 EQ/Legg Mason Value Equity $260 $ 798 $1,362 $2,896 EQ/Long Term Bond $229 $ 706 $1,210 $2,593 EQ/Lord Abbett Growth and Income $259 $ 795 $1,357 $2,886 EQ/Lord Abbett Large Cap Core $264 $ 810 $1,383 $2,937 EQ/Lord Abbett Mid Cap Value $263 $ 807 $1,378 $2,927 EQ/Marsico Focus $276 $ 848 $1,445 $3,060 EQ/Mid Cap Value PLUS $259 $ 795 $1,357 $2,886 EQ/Money Market $190 $ 589 $1,013 $2,192 EQ/Montag & Caldwell Growth $268 $ 823 $1,404 $2,978 EQ/Mutual Shares $290 $ 889 $1,513 $3,191 EQ/Oppenheimer Global $328 $1,001 $1,697 $3,544 EQ/Oppenheimer Main Street Opportunity $311 $ 951 $1,615 $3,389 EQ/Oppenheimer Main Street Small Cap $319 $ 976 $1,656 $3,467 EQ/PIMCO Real Return $246 $ 757 $1,294 $2,761 EQ/Short Duration Bond $234 $ 722 $1,236 $2,645 EQ/Small Company Index $215 $ 662 $1,136 $2,443 EQ/T. Rowe Price Growth Stock $271 $ 832 $1,419 $3,009 EQ/Templeton Growth $294 $ 901 $1,533 $3,231 EQ/UBS Growth and Income $269 $ 826 $1,409 $2,988 EQ/Van Kampen Comstock $258 $ 791 $1,352 $2,875 EQ/Van Kampen Emerging Markets Equity $319 $ 976 $1,656 $3,467 EQ/Van Kampen Mid Cap Growth $263 $ 807 $1,378 $2,927 EQ/Van Kampen Real Estate $290 $ 889 $1,513 $3,191 - -------------------------------------------------------------------------------------
(1) Please see "When withdrawal charges do not apply" in "Charges and expenses" later in this prospectus for more information on withdrawal charge waivers upon annuitization. 20 Fee table EQUI-VEST(SM) SERIES 300 CONTRACTS - ---------------------------------------------------------------------------------------------------------
If you surrender your contract at the end of the applicable time period ----------------------------------------------- 1 year 3 years 5 years 10 years - --------------------------------------------------------------------------------------------------------- AXA PREMIER VIP TRUST: - --------------------------------------------------------------------------------------------------------- AXA Aggressive Allocation $ 850 $1,490 $2,155 $3,280 AXA Conservative Allocation $ 831 $1,434 $2,061 $3,090 AXA Conservative-Plus Allocation $ 836 $1,449 $2,087 $3,140 AXA Moderate Allocation $ 816 $1,387 $1,978 $2,927 AXA Moderate-Plus Allocation $ 844 $1,472 $2,126 $3,221 Multimanager Aggressive Equity $ 786 $1,297 $1,820 $2,614 Multimanager Core Bond $ 808 $1,363 $1,936 $2,844 Multimanager Health Care $ 874 $1,560 $2,270 $3,515 Multimanager High Yield $ 783 $1,288 $1,805 $2,582 Multimanager International Equity $ 854 $1,502 $2,174 $3,320 Multimanager Large Cap Core Equity $ 841 $1,463 $2,112 $3,191 Multimanager Large Cap Growth $ 843 $1,469 $2,121 $3,211 Multimanager Large Cap Value $ 838 $1,454 $2,097 $3,161 Multimanager Mid Cap Growth $ 861 $1,522 $2,208 $3,389 Multimanager Mid Cap Value $ 860 $1,519 $2,203 $3,379 Multimanager Small Cap Growth $ 863 $1,528 $2,218 $3,408 Multimanager Small Cap Value $ 852 $1,496 $2,165 $3,300 Multimanager Technology $ 874 $1,560 $2,270 $3,515 Target 2015 Allocation $ 966 $1,829 $2,706 $4,374 Target 2025 Allocation $ 937 $1,743 $2,567 $4,106 Target 2035 Allocation $1,033 $2,020 $3,009 $4,942 Target 2045 Allocation $1,076 $2,141 $3,198 $5,287 - --------------------------------------------------------------------------------------------------------- EQ ADVISORS TRUST: - --------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock $ 767 $1,241 $1,720 $2,410 EQ/AllianceBernstein Intermediate Government Securities $ 770 $1,250 $1,736 $2,443 EQ/AllianceBernstein International $ 796 $1,327 $1,873 $2,719 EQ/AllianceBernstein Large Cap Growth $ 834 $1,443 $2,076 $3,120 EQ/AllianceBernstein Quality Bond $ 771 $1,253 $1,741 $2,454 EQ/AllianceBernstein Small Cap Growth $ 794 $1,321 $1,863 $2,698 EQ/AllianceBernstein Value $ 778 $1,274 $1,778 $2,529 EQ/Ariel Appreciation II $ 832 $1,437 $2,066 $3,100 EQ/AXA Rosenberg Value Long/Short Equity $1,061 $2,099 $3,132 $5,168 EQ/BlackRock Basic Value Equity $ 800 $1,339 $1,894 $2,761 EQ/BlackRock International Value $ 831 $1,434 $2,061 $3,090 EQ/Boston Advisors Equity Income $ 821 $1,401 $2,004 $2,978 EQ/Calvert Socially Responsible $ 820 $1,398 $1,999 $2,968 EQ/Capital Guardian Growth $ 812 $1,375 $1,957 $2,886 EQ/Capital Guardian Research $ 808 $1,363 $1,936 $2,844 EQ/Caywood-Scholl High Yield Bond $ 808 $1,363 $1,936 $2,844 EQ/Davis New York Venture $ 834 $1,443 $2,076 $3,120 EQ/Equity 500 Index $ 745 $1,175 $1,602 $2,170 EQ/Evergreen International Bond $ 819 $1,395 $1,993 $2,958 EQ/Evergreen Omega $ 822 $1,404 $2,009 $2,988 EQ/FI Mid Cap $ 813 $1,378 $1,962 $2,896 - --------------------------------------------------------------------------------------------------------- - --------------------------------------------------------------------------------------------------------------------------- If you annuitize at the end of the If you do not applicable time surrender your period and select a non-life contingent contract at the end period of certain annuity option with less than ten the applicable time years period ----------------------------------------------------------------- 1 year 3 years 5 years 10 years 1 year 3 years - --------------------------------------------------------------------------------------------------------------------------- AXA PREMIER VIP TRUST: - --------------------------------------------------------------------------------------------------------------------------- AXA Aggressive Allocation N/A $1,490 $2,155 $3,280 $300 $ 917 AXA Conservative Allocation N/A $1,434 $2,061 $3,090 $280 $ 857 AXA Conservative-Plus Allocation N/A $1,449 $2,087 $3,140 $285 $ 873 AXA Moderate Allocation N/A $1,387 $1,978 $2,927 $263 $ 807 AXA Moderate-Plus Allocation N/A $1,472 $2,126 $3,221 $293 $ 898 Multimanager Aggressive Equity N/A $1,297 $1,820 $2,614 $231 $ 713 Multimanager Core Bond N/A $1,363 $1,936 $2,844 $254 $ 782 Multimanager Health Care N/A $1,560 $2,270 $3,515 $325 $ 991 Multimanager High Yield N/A $1,288 $1,805 $2,582 $228 $ 703 Multimanager International Equity N/A $1,502 $2,174 $3,320 $304 $ 929 Multimanager Large Cap Core Equity N/A $1,463 $2,112 $3,191 $290 $ 889 Multimanager Large Cap Growth N/A $1,469 $2,121 $3,211 $292 $ 895 Multimanager Large Cap Value N/A $1,454 $2,097 $3,161 $287 $ 879 Multimanager Mid Cap Growth N/A $1,522 $2,208 $3,389 $311 $ 951 Multimanager Mid Cap Value N/A $1,519 $2,203 $3,379 $310 $ 948 Multimanager Small Cap Growth N/A $1,528 $2,218 $3,408 $313 $ 957 Multimanager Small Cap Value N/A $1,496 $2,165 $3,300 $302 $ 923 Multimanager Technology N/A $1,560 $2,270 $3,515 $325 $ 991 Target 2015 Allocation N/A $1,829 $2,706 $4,374 $422 $1,277 Target 2025 Allocation N/A $1,743 $2,567 $4,106 $391 $1,185 Target 2035 Allocation N/A $2,020 $3,009 $4,942 $493 $1,479 Target 2045 Allocation N/A $2,141 $3,198 $5,287 $538 $1,607 - --------------------------------------------------------------------------------------------------------------------------- EQ ADVISORS TRUST: - --------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock N/A $1,241 $1,720 $2,410 $211 $ 653 EQ/AllianceBernstein Intermediate Government Securities N/A $1,250 $1,736 $2,443 $215 $ 662 EQ/AllianceBernstein International N/A $1,327 $1,873 $2,719 $242 $ 744 EQ/AllianceBernstein Large Cap Growth N/A $1,443 $2,076 $3,120 $283 $ 867 EQ/AllianceBernstein Quality Bond N/A $1,253 $1,741 $2,454 $216 $ 665 EQ/AllianceBernstein Small Cap Growth N/A $1,321 $1,863 $2,698 $240 $ 738 EQ/AllianceBernstein Value N/A $1,274 $1,778 $2,529 $223 $ 687 EQ/Ariel Appreciation II N/A $1,437 $2,066 $3,100 $281 $ 860 EQ/AXA Rosenberg Value Long/Short Equity N/A $2,099 $3,132 $5,168 $522 $1,562 EQ/BlackRock Basic Value Equity N/A $1,339 $1,894 $2,761 $246 $ 757 EQ/BlackRock International Value N/A $1,434 $2,061 $3,090 $280 $ 857 EQ/Boston Advisors Equity Income N/A $1,401 $2,004 $2,978 $268 $ 823 EQ/Calvert Socially Responsible N/A $1,398 $1,999 $2,968 $267 $ 820 EQ/Capital Guardian Growth N/A $1,375 $1,957 $2,886 $259 $ 795 EQ/Capital Guardian Research N/A $1,363 $1,936 $2,844 $254 $ 782 EQ/Caywood-Scholl High Yield Bond N/A $1,363 $1,936 $2,844 $254 $ 782 EQ/Davis New York Venture N/A $1,443 $2,076 $3,120 $283 $ 867 EQ/Equity 500 Index N/A $1,175 $1,602 $2,170 $188 $ 583 EQ/Evergreen International Bond N/A $1,395 $1,993 $2,958 $266 $ 817 EQ/Evergreen Omega N/A $1,404 $2,009 $2,988 $269 $ 826 EQ/FI Mid Cap N/A $1,378 $1,962 $2,896 $260 $ 798 - --------------------------------------------------------------------------------------------------------------------------- - ---------------------------------------------------------------------------------- If you do not surrender your contract at the end of the applicable time period ------------------------ 5 years 10 years - ---------------------------------------------------------------------------------- AXA PREMIER VIP TRUST: - ---------------------------------------------------------------------------------- AXA Aggressive Allocation $1,559 $3,280 AXA Conservative Allocation $1,461 $3,090 AXA Conservative-Plus Allocation $1,487 $3,140 AXA Moderate Allocation $1,378 $2,927 AXA Moderate-Plus Allocation $1,528 $3,221 Multimanager Aggressive Equity $1,220 $2,614 Multimanager Core Bond $1,336 $2,844 Multimanager Health Care $1,681 $3,515 Multimanager High Yield $1,205 $2,582 Multimanager International Equity $1,579 $3,320 Multimanager Large Cap Core Equity $1,513 $3,191 Multimanager Large Cap Growth $1,523 $3,211 Multimanager Large Cap Value $1,497 $3,161 Multimanager Mid Cap Growth $1,615 $3,389 Multimanager Mid Cap Value $1,610 $3,379 Multimanager Small Cap Growth $1,625 $3,408 Multimanager Small Cap Value $1,569 $3,300 Multimanager Technology $1,681 $3,515 Target 2015 Allocation $2,144 $4,374 Target 2025 Allocation $1,997 $4,106 Target 2035 Allocation $2,467 $4,942 Target 2045 Allocation $2,668 $5,287 - ---------------------------------------------------------------------------------- EQ ADVISORS TRUST: - ---------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock $1,120 $2,410 EQ/AllianceBernstein Intermediate Government Securities $1,136 $2,443 EQ/AllianceBernstein International $1,273 $2,719 EQ/AllianceBernstein Large Cap Growth $1,476 $3,120 EQ/AllianceBernstein Quality Bond $1,141 $2,454 EQ/AllianceBernstein Small Cap Growth $1,263 $2,698 EQ/AllianceBernstein Value $1,178 $2,529 EQ/Ariel Appreciation II $1,466 $3,100 EQ/AXA Rosenberg Value Long/Short Equity $2,598 $5,168 EQ/BlackRock Basic Value Equity $1,294 $2,761 EQ/BlackRock International Value $1,461 $3,090 EQ/Boston Advisors Equity Income $1,404 $2,978 EQ/Calvert Socially Responsible $1,399 $2,968 EQ/Capital Guardian Growth $1,357 $2,886 EQ/Capital Guardian Research $1,336 $2,844 EQ/Caywood-Scholl High Yield Bond $1,336 $2,844 EQ/Davis New York Venture $1,476 $3,120 EQ/Equity 500 Index $1,002 $2,170 EQ/Evergreen International Bond $1,393 $2,958 EQ/Evergreen Omega $1,409 $2,988 EQ/FI Mid Cap $1,362 $2,896 - 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Fee table 21
If you annuitize at the end of the applicable time period and select a non-life contingent If you surrender your contract at the end period of the certain annuity option with less than ten applicable time period years ----------------------------------------------------------------------------------------- 1 year 3 years 5 years 10 years 1 year 3 years 5 years 10 years - ------------------------------------------------------------------------------------------------------------------------------------ EQ ADVISORS TRUST: - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Income $836 $1,449 $2,087 $3,140 N/A $1,449 $2,087 $3,140 EQ/Franklin Small Cap Value $839 $1,457 $2,102 $3,171 N/A $1,457 $2,102 $3,171 EQ/Franklin Templeton Founding Strategy $863 $1,528 $2,218 $3,408 N/A $1,528 $2,218 $3,408 EQ/GAMCO Mergers and Acquisitions $840 $1,460 $2,107 $3,181 N/A $1,460 $2,107 $3,181 EQ/GAMCO Small Company Value $820 $1,398 $1,999 $2,968 N/A $1,398 $1,999 $2,968 EQ/International Core PLUS $826 $1,416 $2,030 $3,029 N/A $1,416 $2,030 $3,029 EQ/International Growth $843 $1,469 $2,121 $3,211 N/A $1,469 $2,121 $3,211 EQ/JPMorgan Core Bond $788 $1,303 $1,831 $2,635 N/A $1,303 $1,831 $2,635 EQ/JPMorgan Value Opportunities $806 $1,357 $1,926 $2,824 N/A $1,357 $1,926 $2,824 EQ/Large Cap Core PLUS $809 $1,366 $1,941 $2,855 N/A $1,366 $1,941 $2,855 EQ/Large Cap Growth PLUS $808 $1,363 $1,936 $2,844 N/A $1,363 $1,936 $2,844 EQ/Legg Mason Value Equity $814 $1,381 $1,967 $2,906 N/A $1,381 $1,967 $2,906 EQ/Long Term Bond $785 $1,294 $1,815 $2,603 N/A $1,294 $1,815 $2,603 EQ/Lord Abbett Growth and Income $813 $1,378 $1,962 $2,896 N/A $1,378 $1,962 $2,896 EQ/Lord Abbett Large Cap Core $818 $1,392 $1,988 $2,947 N/A $1,392 $1,988 $2,947 EQ/Lord Abbett Mid Cap Value $817 $1,390 $1,983 $2,937 N/A $1,390 $1,983 $2,937 EQ/Marsico Focus $829 $1,428 $2,051 $3,070 N/A $1,428 $2,051 $3,070 EQ/Mid Cap Value PLUS $813 $1,378 $1,962 $2,896 N/A $1,378 $1,962 $2,896 EQ/Money Market $752 $1,196 $1,640 $2,247 N/A $1,196 $1,640 $2,247 EQ/Montag & Caldwell Growth $822 $1,404 $2,009 $2,988 N/A $1,404 $2,009 $2,988 EQ/Mutual Shares $842 $1,466 $2,116 $3,201 N/A $1,466 $2,116 $3,201 EQ/Oppenheimer Global $878 $1,572 $2,290 $3,554 N/A $1,572 $2,290 $3,554 EQ/Oppenheimer Main Street Opportunity $862 $1,525 $2,213 $3,399 N/A $1,525 $2,213 $3,399 EQ/Oppenheimer Main Street Small Cap $870 $1,548 $2,251 $3,477 N/A $1,548 $2,251 $3,477 EQ/PIMCO Real Return $801 $1,342 $1,899 $2,771 N/A $1,342 $1,899 $2,771 EQ/Short Duration Bond $790 $1,309 $1,841 $2,656 N/A $1,309 $1,841 $2,656 EQ/Small Company Index $771 $1,253 $1,741 $2,454 N/A $1,253 $1,741 $2,454 EQ/T. Rowe Price Growth Stock $825 $1,413 $2,025 $3,019 N/A $1,413 $2,025 $3,019 EQ/Templeton Growth $846 $1,478 $2,136 $3,241 N/A $1,478 $2,136 $3,241 EQ/UBS Growth and Income $823 $1,407 $2,014 $2,999 N/A $1,407 $2,014 $2,999 EQ/Van Kampen Comstock $812 $1,375 $1,957 $2,886 N/A $1,375 $1,957 $2,886 EQ/Van Kampen Emerging Markets Equity $870 $1,548 $2,251 $3,477 N/A $1,548 $2,251 $3,477 EQ/Van Kampen Mid Cap Growth $817 $1,390 $1,983 $2,937 N/A $1,390 $1,983 $2,937 EQ/Van Kampen Real Estate $842 $1,466 $2,116 $3,201 N/A $1,466 $2,116 $3,201 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------- If you do not surrender your contract at the end of the applicable time period ------------------------------------------- 1 year 3 years 5 years 10 years - ------------------------------------------------------------------------------------- EQ ADVISORS TRUST: - ------------------------------------------------------------------------------------- EQ/Franklin Income $285 $ 873 $1,487 $3,140 EQ/Franklin Small Cap Value $288 $ 882 $1,502 $3,171 EQ/Franklin Templeton Founding Strategy $313 $ 957 $1,625 $3,408 EQ/GAMCO Mergers and Acquisitions $289 $ 885 $1,507 $3,181 EQ/GAMCO Small Company Value $267 $ 820 $1,399 $2,968 EQ/International Core PLUS $273 $ 839 $1,430 $3,029 EQ/International Growth $292 $ 895 $1,523 $3,211 EQ/JPMorgan Core Bond $233 $ 719 $1,231 $2,635 EQ/JPMorgan Value Opportunities $252 $ 776 $1,326 $2,824 EQ/Large Cap Core PLUS $255 $ 785 $1,341 $2,855 EQ/Large Cap Growth PLUS $254 $ 782 $1,336 $2,844 EQ/Legg Mason Value Equity $261 $ 801 $1,367 $2,906 EQ/Long Term Bond $230 $ 710 $1,215 $2,603 EQ/Lord Abbett Growth and Income $260 $ 798 $1,362 $2,896 EQ/Lord Abbett Large Cap Core $265 $ 813 $1,388 $2,947 EQ/Lord Abbett Mid Cap Value $264 $ 810 $1,383 $2,937 EQ/Marsico Focus $277 $ 851 $1,451 $3,070 EQ/Mid Cap Value PLUS $260 $ 798 $1,362 $2,896 EQ/Money Market $196 $ 605 $1,040 $2,247 EQ/Montag & Caldwell Growth $269 $ 826 $1,409 $2,988 EQ/Mutual Shares $291 $ 892 $1,518 $3,201 EQ/Oppenheimer Global $329 $1,004 $1,702 $3,554 EQ/Oppenheimer Main Street Opportunity $312 $ 954 $1,620 $3,399 EQ/Oppenheimer Main Street Small Cap $320 $ 979 $1,661 $3,477 EQ/PIMCO Real Return $247 $ 760 $1,299 $2,771 EQ/Short Duration Bond $236 $ 725 $1,241 $2,656 EQ/Small Company Index $216 $ 665 $1,141 $2,454 EQ/T. Rowe Price Growth Stock $272 $ 835 $1,425 $3,019 EQ/Templeton Growth $295 $ 904 $1,538 $3,241 EQ/UBS Growth and Income $270 $ 829 $1,414 $2,999 EQ/Van Kampen Comstock $259 $ 795 $1,357 $2,886 EQ/Van Kampen Emerging Markets Equity $320 $ 979 $1,661 $3,477 EQ/Van Kampen Mid Cap Growth $264 $ 810 $1,383 $2,937 EQ/Van Kampen Real Estate $291 $ 892 $1,518 $3,201 - -------------------------------------------------------------------------------------
22 Fee table EQUI-VEST(SM) SERIES 400 CONTRACTS - --------------------------------------------------------------------------------
If you surrender your contract at the end of the applicable time period -------------------------------------------- 1 year 3 years 5 years 10 years - ------------------------------------------------------------------------------------------------------ AXA PREMIER VIP TRUST: - ------------------------------------------------------------------------------------------------------ AXA Aggressive Allocation $ 915 $1,680 $2,465 $3,904 AXA Conservative Allocation $ 896 $1,624 $2,375 $3,726 AXA Conservative-Plus Allocation $ 901 $1,639 $2,399 $3,773 AXA Moderate Allocation $ 880 $1,578 $2,299 $3,573 AXA Moderate-Plus Allocation $ 909 $1,662 $2,436 $3,848 Multimanager Aggressive Equity $ 850 $1,490 $2,155 $3,280 Multimanager Core Bond $ 872 $1,554 $2,261 $3,496 Multimanager Health Care $ 939 $1,749 $2,577 $4,124 Multimanager High Yield $ 847 $1,481 $2,141 $3,250 Multimanager International Equity $ 919 $1,691 $2,483 $3,941 Multimanager Large Cap Core Equity $ 906 $1,653 $2,422 $3,820 Multimanager Large Cap Growth $ 908 $1,659 $2,432 $3,839 Multimanager Large Cap Value $ 903 $1,645 $2,408 $3,792 Multimanager Mid Cap Growth $ 926 $1,711 $2,516 $4,005 Multimanager Mid Cap Value $ 925 $1,708 $2,511 $3,996 Multimanager Small Cap Growth $ 928 $1,717 $2,525 $4,024 Multimanager Small Cap Value $ 917 $1,685 $2,474 $3,922 Multimanager Technology $ 939 $1,749 $2,577 $4,124 Target 2015 Allocation $1,031 $2,014 $3,000 $4,926 Target 2025 Allocation $1,001 $1,929 $2,865 $4,676 Target 2035 Allocation $1,098 $2,202 $3,294 $5,457 Target 2045 Allocation $1,140 $2,322 $3,478 $5,778 - --------------------------------------------------------- ------ ------ ------ ------ EQ ADVISORS TRUST: - ------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Common Stock $ 831 $1,434 $2,061 $3,090 EQ/AllianceBernstein Intermediate Government Securities $ 834 $1,443 $2,076 $3,120 EQ/AllianceBernstein International $ 860 $1,519 $2,203 $3,379 EQ/AllianceBernstein Large Cap Growth $ 899 $1,633 $2,389 $3,754 EQ/AllianceBernstein Quality Bond $ 835 $1,446 $2,082 $3,130 EQ/AllianceBernstein Small Cap Growth $ 858 $1,513 $2,194 $3,359 EQ/AllianceBernstein Value $ 842 $1,466 $2,116 $3,201 EQ/Ariel Appreciation II $ 897 $1,627 $2,380 $3,735 EQ/AXA Rosenberg Value Long/Short Equity $1,125 $2,280 $3,414 $5,668 EQ/BlackRock Basic Value Equity $ 864 $1,531 $2,223 $3,418 EQ/BlackRock International Value $ 896 $1,624 $2,375 $3,726 EQ/Boston Advisors Equity Income $ 885 $1,592 $2,323 $3,621 EQ/Calvert Socially Responsible $ 884 $1,589 $2,318 $3,612 EQ/Capital Guardian Growth $ 876 $1,566 $2,280 $3,535 EQ/Capital Guardian Research $ 872 $1,554 $2,261 $3,496 EQ/Caywood-Scholl High Yield Bond $ 872 $1,554 $2,261 $3,496 EQ/Davis New York Venture $ 899 $1,633 $2,389 $3,754 EQ/Equity 500 Index $ 810 $1,369 $1,946 $2,865 EQ/Evergreen International Bond $ 883 $1,586 $2,313 $3,602 EQ/Evergreen Omega $ 886 $1,595 $2,328 $3,631 EQ/FI Mid Cap $ 877 $1,569 $2,285 $3,544 - ------------------------------------------------------------------------------------------------------ - --------------------------------------------------------------------------------------------------------------------------- If you annuitize at the end of the If you do not applicable time surrender your period and select a non-life contingent contract at the end period of certain annuity option with less than ten the applicable time years period ----------------------------------------------------------------- 1 year 3 years 5 years 10 years 1 year 3 years - --------------------------------------------------------------------------------------------------------------------------- AXA PREMIER VIP TRUST: - --------------------------------------------------------------------------------------------------------------------------- AXA Aggressive Allocation N/A $1,680 $2,465 $3,904 $368 $1,118 AXA Conservative Allocation N/A $1,624 $2,375 $3,726 $348 $1,059 AXA Conservative-Plus Allocation N/A $1,639 $2,399 $3,773 $353 $1,075 AXA Moderate Allocation N/A $1,578 $2,299 $3,573 $331 $1,010 AXA Moderate-Plus Allocation N/A $1,662 $2,436 $3,848 $361 $1,099 Multimanager Aggressive Equity N/A $1,490 $2,155 $3,280 $300 $ 917 Multimanager Core Bond N/A $1,554 $2,261 $3,496 $323 $ 985 Multimanager Health Care N/A $1,749 $2,577 $4,124 $393 $1,191 Multimanager High Yield N/A $1,481 $2,141 $3,250 $296 $ 907 Multimanager International Equity N/A $1,691 $2,483 $3,941 $372 $1,130 Multimanager Large Cap Core Equity N/A $1,653 $2,422 $3,820 $358 $1,090 Multimanager Large Cap Growth N/A $1,659 $2,432 $3,839 $360 $1,096 Multimanager Large Cap Value N/A $1,645 $2,408 $3,792 $355 $1,081 Multimanager Mid Cap Growth N/A $1,711 $2,516 $4,005 $379 $1,152 Multimanager Mid Cap Value N/A $1,708 $2,511 $3,996 $378 $1,149 Multimanager Small Cap Growth N/A $1,717 $2,525 $4,024 $381 $1,158 Multimanager Small Cap Value N/A $1,685 $2,474 $3,922 $370 $1,124 Multimanager Technology N/A $1,749 $2,577 $4,124 $393 $1,191 Target 2015 Allocation N/A $2,014 $3,000 $4,926 $490 $1,473 Target 2025 Allocation N/A $1,929 $2,865 $4,676 $459 $1,383 Target 2035 Allocation N/A $2,202 $3,294 $5,457 $561 $1,672 Target 2045 Allocation N/A $2,322 $3,478 $5,778 $606 $1,799 - --------------------------------------------------------------------------------------------------------------------------- EQ ADVISORS TRUST: - --------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock N/A $1,434 $2,061 $3,090 $280 $ 857 EQ/AllianceBernstein Intermediate Government Securities N/A $1,443 $2,076 $3,120 $283 $ 867 EQ/AllianceBernstein International N/A $1,519 $2,203 $3,379 $310 $ 948 EQ/AllianceBernstein Large Cap Growth N/A $1,633 $2,389 $3,754 $351 $1,069 EQ/AllianceBernstein Quality Bond N/A $1,446 $2,082 $3,130 $284 $ 870 EQ/AllianceBernstein Small Cap Growth N/A $1,513 $2,194 $3,359 $308 $ 942 EQ/AllianceBernstein Value N/A $1,466 $2,116 $3,201 $291 $ 892 EQ/Ariel Appreciation II N/A $1,627 $2,380 $3,735 $349 $1,062 EQ/AXA Rosenberg Value Long/Short Equity N/A $2,280 $3,414 $5,668 $590 $1,755 EQ/BlackRock Basic Value Equity N/A $1,531 $2,223 $3,418 $314 $ 960 EQ/BlackRock International Value N/A $1,624 $2,375 $3,726 $348 $1,059 EQ/Boston Advisors Equity Income N/A $1,592 $2,323 $3,621 $336 $1,025 EQ/Calvert Socially Responsible N/A $1,589 $2,318 $3,612 $335 $1,022 EQ/Capital Guardian Growth N/A $1,566 $2,280 $3,535 $327 $ 997 EQ/Capital Guardian Research N/A $1,554 $2,261 $3,496 $323 $ 985 EQ/Caywood-Scholl High Yield Bond N/A $1,554 $2,261 $3,496 $323 $ 985 EQ/Davis New York Venture N/A $1,633 $2,389 $3,754 $351 $1,069 EQ/Equity 500 Index N/A $1,369 $1,946 $2,865 $256 $ 788 EQ/Evergreen International Bond N/A $1,586 $2,313 $3,602 $334 $1,019 EQ/Evergreen Omega N/A $1,595 $2,328 $3,631 $337 $1,028 EQ/FI Mid Cap N/A $1,569 $2,285 $3,544 $328 $1,001 - --------------------------------------------------------------------------------------------------------------------------- - --------------------------------------------------------------------------------------------------------------------------- If you do not surrender your contract at the end of the applicable time period ---------------------- 5 years 10 years - -------------------------------------------------------------------------------- AXA PREMIER VIP TRUST: - -------------------------------------------------------------------------------- AXA Aggressive Allocation $1,888 $3,904 AXA Conservative Allocation $1,793 $3,726 AXA Conservative-Plus Allocation $1,818 $3,773 AXA Moderate Allocation $1,712 $3,573 AXA Moderate-Plus Allocation $1,858 $3,848 Multimanager Aggressive Equity $1,559 $3,280 Multimanager Core Bond $1,671 $3,496 Multimanager Health Care $2,007 $4,124 Multimanager High Yield $1,543 $3,250 Multimanager International Equity $1,908 $3,941 Multimanager Large Cap Core Equity $1,843 $3,820 Multimanager Large Cap Growth $1,853 $3,839 Multimanager Large Cap Value $1,828 $3,792 Multimanager Mid Cap Growth $1,943 $4,005 Multimanager Mid Cap Value $1,938 $3,996 Multimanager Small Cap Growth $1,953 $4,024 Multimanager Small Cap Value $1,898 $3,922 Multimanager Technology $2,007 $4,124 Target 2015 Allocation $2,457 $4,926 Target 2025 Allocation $2,314 $4,676 Target 2035 Allocation $2,770 $5,457 Target 2045 Allocation $2,966 $5,778 - -------------------------------------------------------------------------------- EQ ADVISORS TRUST: - -------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock $1,461 $3,090 EQ/AllianceBernstein Intermediate Government Securities $1,476 $3,120 EQ/AllianceBernstein International $1,610 $3,379 EQ/AllianceBernstein Large Cap Growth $1,808 $3,754 EQ/AllianceBernstein Quality Bond $1,482 $3,130 EQ/AllianceBernstein Small Cap Growth $1,600 $3,359 EQ/AllianceBernstein Value $1,518 $3,201 EQ/Ariel Appreciation II $1,798 $3,735 EQ/AXA Rosenberg Value Long/Short Equity $2,898 $5,668 EQ/BlackRock Basic Value Equity $1,630 $3,418 EQ/BlackRock International Value $1,793 $3,726 EQ/Boston Advisors Equity Income $1,737 $3,621 EQ/Calvert Socially Responsible $1,732 $3,612 EQ/Capital Guardian Growth $1,692 $3,535 EQ/Capital Guardian Research $1,671 $3,496 EQ/Caywood-Scholl High Yield Bond $1,671 $3,496 EQ/Davis New York Venture $1,808 $3,754 EQ/Equity 500 Index $1,346 $2,865 EQ/Evergreen International Bond $1,727 $3,602 EQ/Evergreen Omega $1,742 $3,631 EQ/FI Mid Cap $1,697 $3,544 - --------------------------------------------------------------------------------
Fee table 23
- ------------------------------------------------------------------------------------------------------------------------------------ If you annuitize at the end of the applicable time period and select a non-life contingent If you surrender your contract at the end period of the certain annuity option with less than ten applicable time period years ------------------------------------------------------------------------------------------ 1 year 3 years 5 years 10 years 1 year 3 years 5 years 10 years - ------------------------------------------------------------------------------------------------------------------------------------ EQ ADVISORS TRUST: - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Income $901 $1,639 $2,399 $3,773 N/A $1,639 $2,399 $3,773 EQ/Franklin Small Cap Value $904 $1,648 $2,413 $3,801 N/A $1,648 $2,413 $3,801 EQ/Franklin Templeton Founding Strategy $928 $1,717 $2,525 $4,024 N/A $1,717 $2,525 $4,024 EQ/GAMCO Mergers and Acquisitions $905 $1,651 $2,418 $3,811 N/A $1,651 $2,418 $3,811 EQ/GAMCO Small Company Value $884 $1,589 $2,318 $3,612 N/A $1,589 $2,318 $3,612 EQ/International Core PLUS $890 $1,607 $2,347 $3,669 N/A $1,607 $2,347 $3,669 EQ/International Growth $908 $1,659 $2,432 $3,839 N/A $1,659 $2,432 $3,839 EQ/JPMorgan Core Bond $852 $1,496 $2,165 $3,300 N/A $1,496 $2,165 $3,300 EQ/JPMorgan Value Opportunities $870 $1,548 $2,251 $3,477 N/A $1,548 $2,251 $3,477 EQ/Large Cap Core PLUS $873 $1,557 $2,266 $3,506 N/A $1,557 $2,266 $3,506 EQ/Large Cap Growth PLUS $872 $1,554 $2,261 $3,496 N/A $1,554 $2,261 $3,496 EQ/Legg Mason Value Equity $878 $1,572 $2,290 $3,554 N/A $1,572 $2,290 $3,554 EQ/Long Term Bond $849 $1,487 $2,150 $3,270 N/A $1,487 $2,150 $3,270 EQ/Lord Abbett Growth and Income $877 $1,569 $2,285 $3,544 N/A $1,569 $2,285 $3,544 EQ/Lord Abbett Large Cap Core $882 $1,584 $2,309 $3,593 N/A $1,584 $2,309 $3,593 EQ/Lord Abbett Mid Cap Value $881 $1,581 $2,304 $3,583 N/A $1,581 $2,304 $3,583 EQ/Marsico Focus $894 $1,619 $2,366 $3,707 N/A $1,619 $2,366 $3,707 EQ/Mid Cap Value PLUS $877 $1,569 $2,285 $3,544 N/A $1,569 $2,285 $3,544 EQ/Money Market $817 $1,390 $1,983 $2,937 N/A $1,390 $1,983 $2,937 EQ/Montag & Caldwell Growth $886 $1,595 $2,328 $3,631 N/A $1,595 $2,328 $3,631 EQ/Mutual Shares $907 $1,656 $2,427 $3,829 N/A $1,656 $2,427 $3,829 EQ/Oppenheimer Global $943 $1,760 $2,595 $4,160 N/A $1,760 $2,595 $4,160 EQ/Oppenheimer Main Street Opportunity $927 $1,714 $2,521 $4,015 N/A $1,714 $2,521 $4,015 EQ/Oppenheimer Main Street Small Cap $935 $1,737 $2,558 $4,088 N/A $1,737 $2,558 $4,088 EQ/PIMCO Real Return $865 $1,534 $2,227 $3,428 N/A $1,534 $2,227 $3,428 EQ/Short Duration Bond $854 $1,502 $2,174 $3,320 N/A $1,502 $2,174 $3,320 EQ/Small Company Index $835 $1,446 $2,082 $3,130 N/A $1,446 $2,082 $3,130 EQ/T. Rowe Price Growth Stock $889 $1,604 $2,342 $3,659 N/A $1,604 $2,342 $3,659 EQ/Templeton Growth $911 $1,668 $2,446 $3,867 N/A $1,668 $2,446 $3,867 EQ/UBS Growth and Income $887 $1,598 $2,332 $3,640 N/A $1,598 $2,332 $3,640 EQ/Van Kampen Comstock $876 $1,566 $2,280 $3,535 N/A $1,566 $2,280 $3,535 EQ/Van Kampen Emerging Markets Equity $935 $1,737 $2,558 $4,088 N/A $1,737 $2,558 $4,088 EQ/Van Kampen Mid Cap Growth $881 $1,581 $2,304 $3,583 N/A $1,581 $2,304 $3,583 EQ/Van Kampen Real Estate $907 $1,656 $2,427 $3,829 N/A $1,656 $2,427 $3,829 - ------------------------------------------------------------------------------------------------------------------------------------ - -------------------------------------------------------------------------------------- If you do not surrender your contract at the end of the applicable time period --------------------------------------------- 1 year 3 years 5 years 10 years - -------------------------------------------------------------------------------------- EQ ADVISORS TRUST: - -------------------------------------------------------------------------------------- EQ/Franklin Income $353 $1,075 $1,818 $3,773 EQ/Franklin Small Cap Value $356 $1,084 $1,833 $3,801 EQ/Franklin Templeton Founding Strategy $381 $1,158 $1,953 $4,024 EQ/GAMCO Mergers and Acquisitions $357 $1,087 $1,838 $3,811 EQ/GAMCO Small Company Value $335 $1,022 $1,732 $3,612 EQ/International Core PLUS $341 $1,041 $1,762 $3,669 EQ/International Growth $360 $1,096 $1,853 $3,839 EQ/JPMorgan Core Bond $302 $ 923 $1,569 $3,300 EQ/JPMorgan Value Opportunities $320 $ 979 $1,661 $3,477 EQ/Large Cap Core PLUS $324 $ 988 $1,676 $3,506 EQ/Large Cap Growth PLUS $323 $ 985 $1,671 $3,496 EQ/Legg Mason Value Equity $329 $1,004 $1,702 $3,554 EQ/Long Term Bond $298 $ 914 $1,554 $3,270 EQ/Lord Abbett Growth and Income $328 $1,001 $1,697 $3,544 EQ/Lord Abbett Large Cap Core $333 $1,016 $1,722 $3,593 EQ/Lord Abbett Mid Cap Value $332 $1,013 $1,717 $3,583 EQ/Marsico Focus $346 $1,053 $1,783 $3,707 EQ/Mid Cap Value PLUS $328 $1,001 $1,697 $3,544 EQ/Money Market $264 $ 810 $1,383 $2,937 EQ/Montag & Caldwell Growth $337 $1,028 $1,742 $3,631 EQ/Mutual Shares $359 $1,093 $1,848 $3,829 EQ/Oppenheimer Global $397 $1,204 $2,027 $4,160 EQ/Oppenheimer Main Street Opportunity $380 $1,155 $1,948 $4,015 EQ/Oppenheimer Main Street Small Cap $389 $1,179 $1,987 $4,088 EQ/PIMCO Real Return $315 $ 963 $1,636 $3,428 EQ/Short Duration Bond $304 $ 929 $1,579 $3,320 EQ/Small Company Index $284 $ 870 $1,482 $3,130 EQ/T. Rowe Price Growth Stock $340 $1,038 $1,757 $3,659 EQ/Templeton Growth $364 $1,106 $1,868 $3,867 EQ/UBS Growth and Income $338 $1,032 $1,747 $3,640 EQ/Van Kampen Comstock $327 $ 997 $1,692 $3,535 EQ/Van Kampen Emerging Markets Equity $389 $1,179 $1,987 $4,088 EQ/Van Kampen Mid Cap Growth $332 $1,013 $1,717 $3,583 EQ/Van Kampen Real Estate $359 $1,093 $1,848 $3,829 - --------------------------------------------------------------------------------------
24 Fee table EQUI-VEST(SM) SERIES 500 CONTRACTS - --------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------ If you surrender your contract at the end of the applicable time period --------------------------------------------- 1 year 3 years 5 years 10 years - ------------------------------------------------------------------------------------------------------ AXA PREMIER VIP TRUST: - ------------------------------------------------------------------------------------------------------ AXA Aggressive Allocation $ 860 $1,519 $2,203 $3,379 AXA Conservative Allocation $ 841 $1,463 $2,112 $3,191 AXA Conservative-Plus Allocation $ 846 $1,478 $2,136 $3,241 AXA Moderate Allocation $ 826 $1,416 $2,030 $3,029 AXA Moderate-Plus Allocation $ 854 $1,502 $2,174 $3,320 Multimanager Aggressive Equity $ 796 $1,327 $1,873 $2,719 Multimanager Core Bond $ 818 $1,392 $1,988 $2,947 Multimanager Health Care $ 884 $1,589 $2,318 $3,612 Multimanager High Yield $ 793 $1,318 $1,857 $2,688 Multimanager International Equity $ 864 $1,531 $2,223 $3,418 Multimanager Large Cap Core Equity $ 851 $1,493 $2,160 $3,290 Multimanager Large Cap Growth $ 853 $1,499 $2,170 $3,310 Multimanager Large Cap Value $ 848 $1,484 $2,146 $3,260 Multimanager Mid Cap Growth $ 871 $1,551 $2,256 $3,486 Multimanager Mid Cap Value $ 870 $1,548 $2,251 $3,477 Multimanager Small Cap Growth $ 873 $1,557 $2,266 $3,506 Multimanager Small Cap Value $ 862 $1,525 $2,213 $3,399 Multimanager Technology $ 884 $1,589 $2,318 $3,612 Target 2015 Allocation $ 976 $1,858 $2,752 $4,461 Target 2025 Allocation $ 947 $1,772 $2,614 $4,196 Target 2035 Allocation $1,043 $2,048 $3,053 $5,024 Target 2045 Allocation $1,086 $2,169 $3,242 $5,365 - ------------------------------------------------------------------------------------------------------ EQ ADVISORS TRUST: - ------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Common Stock $ 777 $1,271 $1,773 $2,518 EQ/AllianceBernstein Intermediate Government Securities $ 780 $1,280 $1,789 $2,550 EQ/AllianceBernstein International $ 806 $1,357 $1,926 $2,824 EQ/AllianceBernstein Large Cap Growth $ 844 $1,472 $2,126 $3,221 EQ/AllianceBernstein Quality Bond $ 781 $1,283 $1,794 $2,561 EQ/AllianceBernstein Small Cap Growth $ 804 $1,351 $1,915 $2,803 EQ/AllianceBernstein Value $ 788 $1,303 $1,831 $2,635 EQ/Ariel Appreciation II $ 842 $1,466 $2,116 $3,201 EQ/AXA Rosenberg Value Long/Short Equity $1,071 $2,127 $3,176 $5,247 EQ/BlackRock Basic Value Equity $ 810 $1,369 $1,946 $2,865 EQ/BlackRock International Value $ 841 $1,463 $2,112 $3,191 EQ/Boston Advisors Equity Income $ 830 $1,431 $2,056 $3,080 EQ/Calvert Socially Responsible $ 829 $1,428 $2,051 $3,070 EQ/Capital Guardian Growth $ 822 $1,404 $2,009 $2,988 EQ/Capital Guardian Research $ 818 $1,392 $1,988 $2,947 EQ/Caywood-Scholl High Yield Bond $ 818 $1,392 $1,988 $2,947 EQ/Davis New York Venture $ 844 $1,472 $2,126 $3,221 EQ/Equity 500 Index $ 755 $1,205 $1,656 $2,280 EQ/Evergreen International Bond $ 828 $1,425 $2,045 $3,060 EQ/Evergreen Omega $ 831 $1,434 $2,061 $3,090 EQ/FI Mid Cap $ 823 $1,407 $2,014 $2,999 - ------------------------------------------------------------------------------------------------------ - --------------------------------------------------------------------------------------------------------------------------- If you annuitize at the end of the If you do not applicable time surrender your period and select a non-life contingent contract at the end period of certain annuity option with less than ten the applicable time years period ----------------------------------------------------------------- 1 year 3 years 5 years 10 years 1 year 3 years - --------------------------------------------------------------------------------------------------------------------------- AXA PREMIER VIP TRUST: - --------------------------------------------------------------------------------------------------------------------------- AXA Aggressive Allocation N/A $1,519 $2,203 $3,379 $310 $ 948 AXA Conservative Allocation N/A $1,463 $2,112 $3,191 $290 $ 889 AXA Conservative-Plus Allocation N/A $1,478 $2,136 $3,241 $295 $ 904 AXA Moderate Allocation N/A $1,416 $2,030 $3,029 $273 $ 839 AXA Moderate-Plus Allocation N/A $1,502 $2,174 $3,320 $304 $ 929 Multimanager Aggressive Equity N/A $1,327 $1,873 $2,719 $242 $ 744 Multimanager Core Bond N/A $1,392 $1,988 $2,947 $265 $ 813 Multimanager Health Care N/A $1,589 $2,318 $3,612 $335 $1,022 Multimanager High Yield N/A $1,318 $1,857 $2,688 $239 $ 735 Multimanager International Equity N/A $1,531 $2,223 $3,418 $314 $ 960 Multimanager Large Cap Core Equity N/A $1,493 $2,160 $3,290 $301 $ 920 Multimanager Large Cap Growth N/A $1,499 $2,170 $3,310 $303 $ 926 Multimanager Large Cap Value N/A $1,484 $2,146 $3,260 $297 $ 910 Multimanager Mid Cap Growth N/A $1,551 $2,256 $3,486 $322 $ 982 Multimanager Mid Cap Value N/A $1,548 $2,251 $3,477 $320 $ 979 Multimanager Small Cap Growth N/A $1,557 $2,266 $3,506 $324 $ 988 Multimanager Small Cap Value N/A $1,525 $2,213 $3,399 $312 $ 954 Multimanager Technology N/A $1,589 $2,318 $3,612 $335 $1,022 Target 2015 Allocation N/A $1,858 $2,752 $4,461 $433 $1,307 Target 2025 Allocation N/A $1,772 $2,614 $4,196 $401 $1,216 Target 2035 Allocation N/A $2,048 $3,053 $5,024 $503 $1,509 Target 2045 Allocation N/A $2,169 $3,242 $5,365 $548 $1,637 - --------------------------------------------------------------------------------------------------------------------------- EQ ADVISORS TRUST: - --------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock N/A $1,271 $1,773 $2,518 $222 $ 684 EQ/AllianceBernstein Intermediate Government Securities N/A $1,280 $1,789 $2,550 $225 $ 694 EQ/AllianceBernstein International N/A $1,357 $1,926 $2,824 $252 $ 776 EQ/AllianceBernstein Large Cap Growth N/A $1,472 $2,126 $3,221 $293 $ 898 EQ/AllianceBernstein Quality Bond N/A $1,283 $1,794 $2,561 $226 $ 697 EQ/AllianceBernstein Small Cap Growth N/A $1,351 $1,915 $2,803 $250 $ 769 EQ/AllianceBernstein Value N/A $1,303 $1,831 $2,635 $233 $ 719 EQ/Ariel Appreciation II N/A $1,466 $2,116 $3,201 $291 $ 892 EQ/AXA Rosenberg Value Long/Short Equity N/A $2,127 $3,176 $5,247 $532 $1,592 EQ/BlackRock Basic Value Equity N/A $1,369 $1,946 $2,865 $256 $ 788 EQ/BlackRock International Value N/A $1,463 $2,112 $3,191 $290 $ 889 EQ/Boston Advisors Equity Income N/A $1,431 $2,056 $3,080 $279 $ 854 EQ/Calvert Socially Responsible N/A $1,428 $2,051 $3,070 $277 $ 851 EQ/Capital Guardian Growth N/A $1,404 $2,009 $2,988 $269 $ 826 EQ/Capital Guardian Research N/A $1,392 $1,988 $2,947 $265 $ 813 EQ/Caywood-Scholl High Yield Bond N/A $1,392 $1,988 $2,947 $265 $ 813 EQ/Davis New York Venture N/A $1,472 $2,126 $3,221 $293 $ 898 EQ/Equity 500 Index N/A $1,205 $1,656 $2,280 $199 $ 614 EQ/Evergreen International Bond N/A $1,425 $2,045 $3,060 $276 $ 848 EQ/Evergreen Omega N/A $1,434 $2,061 $3,090 $280 $ 857 EQ/FI Mid Cap N/A $1,407 $2,014 $2,999 $270 $ 829 - --------------------------------------------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- If you do not surrender your contract at the end of the applicable time period ---------------------- 5 years 10 years - -------------------------------------------------------------------------------- AXA PREMIER VIP TRUST: - -------------------------------------------------------------------------------- AXA Aggressive Allocation $1,610 $3,379 AXA Conservative Allocation $1,513 $3,191 AXA Conservative-Plus Allocation $1,538 $3,241 AXA Moderate Allocation $1,430 $3,029 AXA Moderate-Plus Allocation $1,579 $3,320 Multimanager Aggressive Equity $1,273 $2,719 Multimanager Core Bond $1,388 $2,947 Multimanager Health Care $1,732 $3,612 Multimanager High Yield $1,257 $2,688 Multimanager International Equity $1,630 $3,418 Multimanager Large Cap Core Equity $1,564 $3,290 Multimanager Large Cap Growth $1,574 $3,310 Multimanager Large Cap Value $1,549 $3,260 Multimanager Mid Cap Growth $1,666 $3,486 Multimanager Mid Cap Value $1,661 $3,477 Multimanager Small Cap Growth $1,676 $3,506 Multimanager Small Cap Value $1,620 $3,399 Multimanager Technology $1,732 $3,612 Target 2015 Allocation $2,193 $4,461 Target 2025 Allocation $2,046 $4,196 Target 2035 Allocation $2,514 $5,024 Target 2045 Allocation $2,715 $5,365 - -------------------------------------------------------------------------------- EQ ADVISORS TRUST: - -------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock $1,173 $2,518 EQ/AllianceBernstein Intermediate Government Securities $1,189 $2,550 EQ/AllianceBernstein International $1,326 $2,824 EQ/AllianceBernstein Large Cap Growth $1,528 $3,221 EQ/AllianceBernstein Quality Bond $1,194 $2,561 EQ/AllianceBernstein Small Cap Growth $1,315 $2,803 EQ/AllianceBernstein Value $1,231 $2,635 EQ/Ariel Appreciation II $1,518 $3,201 EQ/AXA Rosenberg Value Long/Short Equity $2,645 $5,247 EQ/BlackRock Basic Value Equity $1,346 $2,865 EQ/BlackRock International Value $1,513 $3,191 EQ/Boston Advisors Equity Income $1,456 $3,080 EQ/Calvert Socially Responsible $1,451 $3,070 EQ/Capital Guardian Growth $1,409 $2,988 EQ/Capital Guardian Research $1,388 $2,947 EQ/Caywood-Scholl High Yield Bond $1,388 $2,947 EQ/Davis New York Venture $1,528 $3,221 EQ/Equity 500 Index $1,056 $2,280 EQ/Evergreen International Bond $1,445 $3,060 EQ/Evergreen Omega $1,461 $3,090 EQ/FI Mid Cap $1,414 $2,999 - --------------------------------------------------------------------------------
Fee table 25
- ---------------------------------------------------------------------------------------------------------------------------------- If you annuitize at the end of the applicable time period and select a non-life contingent If you surrender your contract at the end period of the certain annuity option with less than ten applicable time period years ---------------------------------------------------------------------------------------- 1 year 3 years 5 years 10 years 1 year 3 years 5 years 10 years - ---------------------------------------------------------------------------------------------------------------------------------- EQ ADVISORS TRUST: - ---------------------------------------------------------------------------------------------------------------------------------- EQ/Franklin Income $846 $1,478 $2,136 $3,241 N/A $1,478 $2,136 $3,241 EQ/Franklin Small Cap Value $849 $1,487 $2,150 $3,270 N/A $1,487 $2,150 $3,270 EQ/Franklin Templeton Founding Strategy $873 $1,557 $2,266 $3,506 N/A $1,557 $2,266 $3,506 EQ/GAMCO Mergers and Acquisitions $850 $1,490 $2,155 $3,280 N/A $1,490 $2,155 $3,280 EQ/GAMCO Small Company Value $829 $1,428 $2,051 $3,070 N/A $1,428 $2,051 $3,070 EQ/International Core PLUS $835 $1,446 $2,082 $3,130 N/A $1,446 $2,082 $3,130 EQ/International Growth $853 $1,499 $2,170 $3,310 N/A $1,499 $2,170 $3,310 EQ/JPMorgan Core Bond $798 $1,333 $1,884 $2,740 N/A $1,333 $1,884 $2,740 EQ/JPMorgan Value Opportunities $816 $1,387 $1,978 $2,927 N/A $1,387 $1,978 $2,927 EQ/Large Cap Core PLUS $819 $1,395 $1,993 $2,958 N/A $1,395 $1,993 $2,958 EQ/Large Cap Growth PLUS $818 $1,392 $1,988 $2,947 N/A $1,392 $1,988 $2,947 EQ/Legg Mason Value Equity $824 $1,410 $2,019 $3,009 N/A $1,410 $2,019 $3,009 EQ/Long Term Bond $795 $1,324 $1,868 $2,709 N/A $1,324 $1,868 $2,709 EQ/Lord Abbett Growth and Income $823 $1,407 $2,014 $2,999 N/A $1,407 $2,014 $2,999 EQ/Lord Abbett Large Cap Core $828 $1,422 $2,040 $3,049 N/A $1,422 $2,040 $3,049 EQ/Lord Abbett Mid Cap Value $827 $1,419 $2,035 $3,039 N/A $1,419 $2,035 $3,039 EQ/Marsico Focus $839 $1,457 $2,102 $3,171 N/A $1,457 $2,102 $3,171 EQ/Mid Cap Value PLUS $823 $1,407 $2,014 $2,999 N/A $1,407 $2,014 $2,999 EQ/Money Market $762 $1,226 $1,693 $2,356 N/A $1,226 $1,693 $2,356 EQ/Montag & Caldwell Growth $831 $1,434 $2,061 $3,090 N/A $1,434 $2,061 $3,090 EQ/Mutual Shares $852 $1,496 $2,165 $3,300 N/A $1,496 $2,165 $3,300 EQ/Oppenheimer Global $888 $1,601 $2,337 $3,650 N/A $1,601 $2,337 $3,650 EQ/Oppenheimer Main Street Opportunity $872 $1,554 $2,261 $3,496 N/A $1,554 $2,261 $3,496 EQ/Oppenheimer Main Street Small Cap $880 $1,578 $2,299 $3,573 N/A $1,578 $2,299 $3,573 EQ/PIMCO Real Return $811 $1,372 $1,952 $2,875 N/A $1,372 $1,952 $2,875 EQ/Short Duration Bond $800 $1,339 $1,894 $2,761 N/A $1,339 $1,894 $2,761 EQ/Small Company Index $781 $1,283 $1,794 $2,561 N/A $1,283 $1,794 $2,561 EQ/T. Rowe Price Growth Stock $834 $1,443 $2,076 $3,120 N/A $1,443 $2,076 $3,120 EQ/Templeton Growth $856 $1,507 $2,184 $3,340 N/A $1,507 $2,184 $3,340 EQ/UBS Growth and Income $832 $1,437 $2,066 $3,100 N/A $1,437 $2,066 $3,100 EQ/Van Kampen Comstock $822 $1,404 $2,009 $2,988 N/A $1,404 $2,009 $2,988 EQ/Van Kampen Emerging Markets Equity $880 $1,578 $2,299 $3,573 N/A $1,578 $2,299 $3,573 EQ/Van Kampen Mid Cap Growth $827 $1,419 $2,035 $3,039 N/A $1,419 $2,035 $3,039 EQ/Van Kampen Real Estate $852 $1,496 $2,165 $3,300 N/A $1,496 $2,165 $3,300 - ------------------------------------------------------------------------------------- If you do not surrender your contract at the end of the applicable time period -------------------------------------------- 1 year 3 years 5 years 10 years - ------------------------------------------------------------------------------------- EQ ADVISORS TRUST: - ------------------------------------------------------------------------------------- EQ/Franklin Income $295 $ 904 $1,538 $3,241 EQ/Franklin Small Cap Value $298 $ 914 $1,554 $3,270 EQ/Franklin Templeton Founding Strategy $324 $ 988 $1,676 $3,506 EQ/GAMCO Mergers and Acquisitions $300 $ 917 $1,559 $3,280 EQ/GAMCO Small Company Value $277 $ 851 $1,451 $3,070 EQ/International Core PLUS $284 $ 870 $1,482 $3,130 EQ/International Growth $303 $ 926 $1,574 $3,310 EQ/JPMorgan Core Bond $244 $ 751 $1,284 $2,740 EQ/JPMorgan Value Opportunities $263 $ 807 $1,378 $2,927 EQ/Large Cap Core PLUS $266 $ 817 $1,393 $2,958 EQ/Large Cap Growth PLUS $265 $ 813 $1,388 $2,947 EQ/Legg Mason Value Equity $271 $ 832 $1,419 $3,009 EQ/Long Term Bond $241 $ 741 $1,268 $2,709 EQ/Lord Abbett Growth and Income $270 $ 829 $1,414 $2,999 EQ/Lord Abbett Large Cap Core $275 $ 845 $1,440 $3,049 EQ/Lord Abbett Mid Cap Value $274 $ 842 $1,435 $3,039 EQ/Marsico Focus $288 $ 882 $1,502 $3,171 EQ/Mid Cap Value PLUS $270 $ 829 $1,414 $2,999 EQ/Money Market $206 $ 637 $1,093 $2,356 EQ/Montag & Caldwell Growth $280 $ 857 $1,461 $3,090 EQ/Mutual Shares $302 $ 923 $1,569 $3,300 EQ/Oppenheimer Global $339 $1,035 $1,752 $3,650 EQ/Oppenheimer Main Street Opportunity $323 $ 985 $1,671 $3,496 EQ/Oppenheimer Main Street Small Cap $331 $1,010 $1,712 $3,573 EQ/PIMCO Real Return $258 $ 791 $1,352 $2,875 EQ/Short Duration Bond $246 $ 757 $1,294 $2,761 EQ/Small Company Index $226 $ 697 $1,194 $2,561 EQ/T. Rowe Price Growth Stock $283 $ 867 $1,476 $3,120 EQ/Templeton Growth $306 $ 935 $1,590 $3,340 EQ/UBS Growth and Income $281 $ 860 $1,466 $3,100 EQ/Van Kampen Comstock $269 $ 826 $1,409 $2,988 EQ/Van Kampen Emerging Markets Equity $331 $1,010 $1,712 $3,573 EQ/Van Kampen Mid Cap Growth $274 $ 842 $1,435 $3,039 EQ/Van Kampen Real Estate $302 $ 923 $1,569 $3,300 - -------------------------------------------------------------------------------------
26 Fee table CONDENSED FINANCIAL INFORMATION Please see Appendix II at the end of this prospectus, for the unit values and number of units outstanding as of the periods shown for each of the variable investment options, available as of December 31, 2007. Fee table 27 1. Contract features and benefits - -------------------------------------------------------------------------------- In this prospectus, we use a "series" number when necessary to identify a particular contract. Once you have purchased a contract, you can identify the EQUI-VEST(SM) series you have by referring to your confirmation notice, or you may contact your financial professional, or you may call our toll-free number. HOW YOU CAN PURCHASE AND CONTRIBUTE TO YOUR CONTRACT You may purchase a contract by making payments to us that we call "contributions." We require a minimum contribution amount for each type and series of contract purchased. The minimum contribution amount under our automatic investment program is $20. We discuss the automatic investment program under "About other methods of payment" in "More information" later in this prospectus. The following table summarizes our rules regarding contributions to your contract. Ages in the table refer to the age of the annuitant. - -------------------------------------------------------------------------------- The "annuitant" is the person who is the measuring life for determining contract benefits. The annuitant is not necessarily the contract owner. - --------------------------------------------------------------------------------
- -------------------------------------------------------------------------------- Annuitant Minimum Contract type issue ages contributions - -------------------------------------------------------------------------------- NQ 0-83 o $1,000 (initial), and/or $50 (additional) (all series) - -------------------------------------------------------------------------------- Traditional IRA 0-83 o $20 (initial and/or additional) (series 100 and 200) o $50 (initial and/or additional) (series 300 and 400) - -------------------------------------------------------------------------------------------- Source of Limitations on Contract type contributions contributions - -------------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------------- NQ o After-tax money. Not applicable. o Paid to us by check or transfer of contract value in a tax deferred exchange under Sec- tion 1035 of the Internal Revenue Code. o Paid to us by an employer who establishes a payroll deduction program. - -------------------------------------------------------------------------------------------- Traditional IRA o "Regular" traditional IRA con- o Regular IRA contributions may tributions either made by you not exceed $5,000. or paid to us by an employer o No regular IRA contributions in who establishes a payroll the year you turn age 70-1/2 and deduction program. thereafter. o Additional catch-up o Rollover and direct transfer contributions. contributions after age 70-1/2 o Eligible rollover distributions must be net of required mini- from 403(b) plans, qualified mum distributions. plans and governmental o Additional catch-up contribu- employer EDC plans. tions of up to $1,000 per o Rollovers from another tradi- calendar year where the owner tional individual retirement is at least age 50 but under arrangement. age 70-1/2 at any time during o Direct custodian-to-custodian the calendar year for which the transfers from other traditional contribution is made. individual retirement arrange- ments.
28 Contract features and benefits
- -------------------------------------------------------------------------------------------- Annuitant Minimum Contract type issue ages contributions - -------------------------------------------------------------------------------------------- Roth IRA and 0-83 o $20 (initial and/or additional) Roth Advantage (series 100 and 200) o $50 (initial and/or additional) (series 300, 400 and 500) QP IRA 0-83 o $1,000 additional (series 100 and 200) o $2,500 additional (series 300 and 400) - -------------------------------------------------------------------------------------------- Source of Limitations on Contract type contributions contributions - -------------------------------------------------------------------------------------------- Roth IRA and o Regular Roth IRA contribu- o Regular Roth IRA contributions Roth Advantage tions either made by you or may not exceed $5,000. paid to us by an employer who o Contributions are subject to establishes a payroll deduction income limits and other tax program. rules. See "Contributions to o Additional catch-up Roth IRAs" in "Tax informa- contributions. tion" later in this prospectus. o Rollovers from another Roth o Additional catch-up contribu- IRA. tions of up to $1,000 per o Rollovers from a "designated calendar year if the owner is at Roth contribution account" least age 50 at any time during under a 401(k) plan or 403(b) the calendar year for which the plan. contribution is made. o Conversion rollovers from a traditional IRA or other eligible retirement plan. o Direct transfers from another Roth IRA. - -------------------------------------------------------------------------------------------- QP IRA o Rollovers from a qualified o Rollover contributions after age plan. 70-1/2 must be net of required o Rollovers from a TSA. minimum distributions. o The EQUI-VEST(SM) QP IRA con- o "Regular" after-tax contribu- tract is intended to be a tions are not permitted. conduit IRA to be used prima- rily for rollover contributions from a qualified plan or TSA, although we accept regular IRA contributions (limits described above under "tradi- tional IRA"). - --------------------------------------------------------------------------------------------
See "Tax information" later in this prospectus for a more detailed discussion of sources of contributions and certain contribution limitations. We may refuse to accept any contribution if the sum of all contributions under all EQUI-VEST(SM) series and EQUI-VEST(SM) At Retirement(SM) contracts with the same owner or annuitant would then total more than $1,500,000 ($500,000 for owners or annuitants who are age 81 and older at contract issue). We may also refuse to accept any contribution if the sum of all contributions under all AXA Equitable annuity accumulation contracts with the same owner or annuitant would then total more than $2,500,000. For information on when contributions are credited see "Dates and prices at which contract events occur" under "More information" later in this prospectus. Contract features and benefits 29 OWNER AND ANNUITANT REQUIREMENTS Under NQ contracts, the annuitant can be different than the owner. Under any type of IRA contract, the owner and annuitant must be the same person. HOW YOU CAN MAKE YOUR CONTRIBUTIONS Except as noted below, contributions must be made by check drawn on a U.S. bank, in U.S. dollars, and made payable to AXA Equitable. We may also apply contributions made pursuant to a 1035 tax-free exchange or a direct transfer. We do not accept third-party checks endorsed to us except for rollover contributions, tax-free exchanges or trustee checks that involve no refund. All checks are subject to our ability to collect the funds. We reserve the right to reject a payment if it is received in an unacceptable form. Additional contributions may also be made by wire transfer or our automatic investment program. The methods of payment are discussed in detail under "About other methods of payment" in "More information" later in this prospectus. Your initial contribution must generally be accompanied by an application and any other form we need to process the contribution. If any information is missing or unclear, we will hold the contribution, whether received via check or wire, in a non-interest bearing suspense account while we try to obtain that information. If we are unable to obtain all of the information we require within five business days after we receive an incomplete application or form, we will inform the financial professional submitting the application on your behalf. We will then return the contribution to you unless you specifically direct us to keep your contribution until we receive the required information. Generally, you may make additional contributions at any time. You may do so in single sum amounts, on a regular basis, or as your financial situation permits. - -------------------------------------------------------------------------------- Our "business day" is generally any day the New York Stock Exchange is open for regular trading and generally ends at 4:00 p.m. Eastern Time (or as of an earlier close of regular trading). A business day does not include a day on which we are not open due to emergency conditions determined by the Securities and Exchange Commission. We may also close early due to such emergency conditions. For more information about our business day and our pricing of transactions, please see "Dates and prices at which contract events occur." - -------------------------------------------------------------------------------- WHAT ARE YOUR INVESTMENT OPTIONS UNDER THE CONTRACT? Your investment options are the variable investment options, the guaranteed interest option and the fixed maturity options. VARIABLE INVESTMENT OPTIONS Your investment results in any one of the variable investment options will depend on the investment performance of the underlying portfolios. You can lose your principal when investing in the variable investment options. In periods of poor market performance, the net return, after charges and expenses, may result in negative yields, including for the EQ/Money Market variable investment option. Listed below are the currently available portfolios, their investment objectives, and their advisers. - -------------------------------------------------------------------------------- You can choose from among the variable investment options, the guaranteed interest option and the fixed maturity options. - -------------------------------------------------------------------------------- 30 Contract features and benefits PORTFOLIOS OF THE TRUSTS The AXA Allocation Portfolios and the EQ/Franklin Templeton Founding Strategy Portfolio offer contract owners a convenient opportunity to invest in other portfolios that are managed and have been selected for inclusion in the AXA Allocation Portfolios and the EQ/Franklin Templeton Founding Strategy Portfolio by AXA Equitable. AXA Advisors, LLC, an affiliated broker-dealer of AXA Equitable, may promote the benefits of such portfolios to contract owners and/or suggest, incidental to the sale of this contract, that contract owners consider whether allocating some or all of their account value to such portfolios is consistent with their desired investment objectives. In doing so, AXA Equitable, and/or its affiliates, may be subject to conflicts of interest insofar as AXA Equitable may derive greater revenues from the AXA Allocation Portfolios and the EQ/Franklin Templeton Founding Strategy Portfolio than certain other portfolios available to you under your contract. In addition, due to the relative diversification of the underlying portfolios covering various asset classes and categories, the AXA Allocation Portfolios and the EQ/Franklin Templeton Founding Strategy Portfolio may enable AXA Equitable to more efficiently manage AXA Equitable's financial risks associated with certain guaranteed features. Please see "Allocating your contributions" later in this section for more information about your role in managing your allocations. AXA Equitable serves as the investment manager of the portfolios of AXA Premier VIP Trust and EQ Advisors Trust. For some portfolios, AXA Equitable has entered into sub-advisory agreements with investment advisers (the "sub-advisers") to carry out the day-to-day investment decisions for the portfolios. AXA Equitable oversees the activities of the sub-advisers with respect to the Trusts and is responsible for retaining or discontinuing the services of those sub-advisers. The chart below indicates the objective and investment manager or sub-adviser(s), if applicable, for each portfolio.
- -------------------------------------------------------------------------------------- AXA Premier VIP Trust Portfolio Name Objective - -------------------------------------------------------------------------------------- AXA AGGRESSIVE ALLOCATION Seeks long-term capital appreciation. - -------------------------------------------------------------------------------------- AXA CONSERVATIVE ALLOCATION Seeks a high level of current income. - -------------------------------------------------------------------------------------- AXA CONSERVATIVE-PLUS Seeks current income and growth of capital, with a ALLOCATION greater emphasis on current income. - -------------------------------------------------------------------------------------- AXA MODERATE ALLOCATION Seeks long-term capital appreciation and current income. - -------------------------------------------------------------------------------------- AXA MODERATE-PLUS Seeks long-term capital appreciation and current income, ALLOCATION with a greater emphasis on capital appreciation. - -------------------------------------------------------------------------------------- MULTIMANAGER AGGRESSIVE Long-term growth of capital. EQUITY - -------------------------------------------------------------------------------------- MULTIMANAGER CORE BOND To seek a balance of high current income and capital appreciation, consistent with a prudent level of risk. - -------------------------------------------------------------------------------------- MULTIMANAGER HEALTH CARE Long-term growth of capital. - -------------------------------------------------------------------------------------- MULTIMANAGER HIGH YIELD High total return through a combination of current income and capital appreciation. - -------------------------------------------------------------------------------------- MULTIMANAGER INTERNATIONAL Long-term growth of capital. EQUITY - -------------------------------------------------------------------------------------- MULTIMANAGER LARGE CAP Long-term growth of capital. CORE EQUITY - -------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------- AXA Premier VIP Trust Investment Manager (or Sub-Adviser(s), as Portfolio Name applicable) - -------------------------------------------------------------------------------------- AXA AGGRESSIVE ALLOCATION o AXA Equitable - -------------------------------------------------------------------------------------- AXA CONSERVATIVE ALLOCATION o AXA Equitable - -------------------------------------------------------------------------------------- AXA CONSERVATIVE-PLUS o AXA Equitable ALLOCATION - -------------------------------------------------------------------------------------- AXA MODERATE ALLOCATION o AXA Equitable - -------------------------------------------------------------------------------------- AXA MODERATE-PLUS o AXA Equitable ALLOCATION - -------------------------------------------------------------------------------------- MULTIMANAGER AGGRESSIVE o AllianceBernstein L.P. EQUITY o ClearBridge Advisors, LLC o Legg Mason Capital Management, Inc. o Marsico Capital Management, LLC - -------------------------------------------------------------------------------------- MULTIMANAGER CORE BOND o BlackRock Financial Management, Inc. o Pacific Investment Management Company LLC - -------------------------------------------------------------------------------------- MULTIMANAGER HEALTH CARE o Invesco Aim Capital Management, Inc. o RCM Capital Management LLC o Wellington Management Company, LLP - -------------------------------------------------------------------------------------- MULTIMANAGER HIGH YIELD o Pacific Investment Management Company LLC o Post Advisory Group, LLC - -------------------------------------------------------------------------------------- MULTIMANAGER INTERNATIONAL o AllianceBernstein L.P. EQUITY o JPMorgan Investment Management Inc. o Marsico Capital Management, LLC - -------------------------------------------------------------------------------------- MULTIMANAGER LARGE CAP o AllianceBernstein L.P. CORE EQUITY o Janus Capital Management LLC o Thornburg Investment Management, Inc. - --------------------------------------------------------------------------------------
Contract features and benefits 31
- -------------------------------------------------------------------------------------- AXA Premier VIP Trust Portfolio Name Objective - -------------------------------------------------------------------------------------- MULTIMANAGER LARGE CAP Long-term growth of capital. GROWTH - -------------------------------------------------------------------------------------- MULTIMANAGER LARGE CAP Long-term growth of capital. VALUE - -------------------------------------------------------------------------------------- MULTIMANAGER MID CAP Long-term growth of capital. GROWTH - -------------------------------------------------------------------------------------- MULTIMANAGER MID CAP VALUE Long-term growth of capital. - -------------------------------------------------------------------------------------- MULTIMANAGER SMALL CAP Long-term growth of capital. GROWTH - -------------------------------------------------------------------------------------- MULTIMANAGER SMALL CAP Long-term growth of capital. VALUE - -------------------------------------------------------------------------------------- MULTIMANAGER TECHNOLOGY Long-term growth of capital. - -------------------------------------------------------------------------------------- TARGET 2015 ALLOCATION Seeks the highest total return over time consistent with its asset mix. Total return includes capital growth and income. - -------------------------------------------------------------------------------------- TARGET 2025 ALLOCATION Seeks the highest total return over time consistent with its asset mix. Total return includes capital growth and income. - -------------------------------------------------------------------------------------- TARGET 2035 ALLOCATION Seeks the highest total return over time consistent with its asset mix. Total return includes capital growth and income. - -------------------------------------------------------------------------------------- TARGET 2045 ALLOCATION Seeks the highest total return over time consistent with its asset mix. Total return includes capital growth and income. EQ Advisors Trust Portfolio Name Objective - -------------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN COM- Seeks to achieve long-term growth of capital. MON STOCK - -------------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN INTER- Seeks to achieve high current income consistent with MEDIATE GOVERNMENT relative stability of principal. SECURITIES - -------------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN INTER- Seeks to achieve long-term growth of capital. NATIONAL - -------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------- AXA Premier VIP Trust Investment Manager (or Sub-Adviser(s), as Portfolio Name applicable) - -------------------------------------------------------------------------------------- MULTIMANAGER LARGE CAP o RCM Capital Management LLC GROWTH o TCW Investment Management Company o T. Rowe Price Associates, Inc. - -------------------------------------------------------------------------------------- MULTIMANAGER LARGE CAP o AllianceBernstein L.P. VALUE o Institutional Capital LLC o MFS Investment Management - -------------------------------------------------------------------------------------- MULTIMANAGER MID CAP o AllianceBernstein L.P. GROWTH o Franklin Advisers, Inc. o Provident Investment Counsel, Inc. - -------------------------------------------------------------------------------------- MULTIMANAGER MID CAP VALUE o AXA Rosenberg Investment Management LLC o TCW Investment Management Company o Wellington Management Company, LLP - -------------------------------------------------------------------------------------- MULTIMANAGER SMALL CAP o Eagle Asset Management, Inc. GROWTH o Wells Capital Management Inc. - -------------------------------------------------------------------------------------- MULTIMANAGER SMALL CAP o Franklin Advisory Services, LLC VALUE o Lazard Asset Management LLC - -------------------------------------------------------------------------------------- MULTIMANAGER TECHNOLOGY o Firsthand Capital Management, Inc. o RCM Capital Management LLC o Wellington Management Company, LLP - -------------------------------------------------------------------------------------- TARGET 2015 ALLOCATION o AXA Equitable - -------------------------------------------------------------------------------------- TARGET 2025 ALLOCATION o AXA Equitable - -------------------------------------------------------------------------------------- TARGET 2035 ALLOCATION o AXA Equitable - -------------------------------------------------------------------------------------- TARGET 2045 ALLOCATION o AXA Equitable EQ Advisors Trust Investment Manager (or Sub-Adviser(s), as Portfolio Name applicable) - -------------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN COM- o AllianceBernstein L.P. MON STOCK - -------------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN INTER- o AllianceBernstein L.P. MEDIATE GOVERNMENT SECURITIES - -------------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN INTER- o AllianceBernstein L.P. NATIONAL - --------------------------------------------------------------------------------------
32 Contract features and benefits
- ------------------------------------------------------------------------------------------- EQ Advisors Trust Portfolio Name Objective - ------------------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN LARGE Seeks to achieve long-term growth of capital. CAP GROWTH - ------------------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN QUALITY Seeks to achieve high current income consistent with BOND moderate risk to capital. - ------------------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN SMALL Seeks to achieve long-term growth of capital. CAP GROWTH - ------------------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN VALUE Seeks to achieve capital appreciation. - ------------------------------------------------------------------------------------------- EQ/ARIEL APPRECIATION II Seeks to achieve long-term capital appreciation. - ------------------------------------------------------------------------------------------- EQ/AXA ROSENBERG VALUE Seeks to increase value through bull markets and bear LONG/SHORT EQUITY markets using strategies that are designed to limit expo- sure to general equity market risk. - ------------------------------------------------------------------------------------------- EQ/BLACKROCK BASIC VALUE Seeks to achieve capital appreciation and secondarily, EQUITY income. - ------------------------------------------------------------------------------------------- EQ/BLACKROCK INTERNATIONAL Seeks to provide current income and long-term growth of VALUE income, accompanied by growth of capital. - ------------------------------------------------------------------------------------------- EQ/BOSTON ADVISORS EQUITY Seeks to achieve a combination of growth and income to INCOME achieve an above-average and consistent total return. - ------------------------------------------------------------------------------------------- EQ/CALVERT SOCIALLY Seeks to achieve long-term capital appreciation. RESPONSIBLE - ------------------------------------------------------------------------------------------- EQ/CAPITAL GUARDIAN GROWTH Seeks to achieve long-term growth of capital. - ------------------------------------------------------------------------------------------- EQ/CAPITAL GUARDIAN Seeks to achieve long-term growth of capital. RESEARCH - ------------------------------------------------------------------------------------------- EQ/CAYWOOD-SCHOLL HIGH Seeks to maximize current income. YIELD BOND - ------------------------------------------------------------------------------------------- EQ/DAVIS NEW YORK VENTURE Seeks to achieve long-term growth of capital. - ------------------------------------------------------------------------------------------- EQ/EQUITY 500 INDEX Seeks to achieve a total return before expenses that approximates the total return performance of the S&P 500 Index, including reinvestment of dividends, at a risk level consistent with that of the S&P 500 Index. - ------------------------------------------------------------------------------------------- EQ/EVERGREEN INTERNATIONAL Seeks to achieve capital growth and current income. BOND - ------------------------------------------------------------------------------------------- EQ/EVERGREEN OMEGA Seeks to achieve long-term capital growth. - ------------------------------------------------------------------------------------------- EQ/FI MID CAP Seeks to achieve long-term growth of capital. - ------------------------------------------------------------------------------------------- EQ/FRANKLIN INCOME Seeks to maximize income while maintaining prospects for capital appreciation. - ------------------------------------------------------------------------------------------- EQ/FRANKLIN SMALL CAP VALUE Seeks to achieve long-term total return. - ------------------------------------------------------------------------------------------- EQ/FRANKLIN TEMPLETON Primarily seeks capital appreciation and secondarily seeks FOUNDING STRATEGY income. - ------------------------------------------------------------------------------------------- EQ Advisors Trust Investment Manager (or Sub-Adviser(s), as Portfolio Name applicable) - ------------------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN LARGE o AllianceBernstein L.P. CAP GROWTH - ------------------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN QUALITY o AllianceBernstein L.P. BOND - ------------------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN SMALL o AllianceBernstein L.P. CAP GROWTH - ------------------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN VALUE o AllianceBernstein L.P. - ------------------------------------------------------------------------------------------- EQ/ARIEL APPRECIATION II o Ariel Capital Management, LLC - ------------------------------------------------------------------------------------------- EQ/AXA ROSENBERG VALUE o AXA Rosenberg Investment Management LLC LONG/SHORT EQUITY - ------------------------------------------------------------------------------------------- EQ/BLACKROCK BASIC VALUE o BlackRock Investment Management, LLC EQUITY - ------------------------------------------------------------------------------------------- EQ/BLACKROCK INTERNATIONAL o BlackRock Investment Management VALUE International Limited - ------------------------------------------------------------------------------------------- EQ/BOSTON ADVISORS EQUITY o Boston Advisors, LLC INCOME - ------------------------------------------------------------------------------------------- EQ/CALVERT SOCIALLY o Calvert Asset Management Company, Inc. RESPONSIBLE o Bridgeway Capital Management, Inc. - ------------------------------------------------------------------------------------------- EQ/CAPITAL GUARDIAN GROWTH o Capital Guardian Trust Company - ------------------------------------------------------------------------------------------- EQ/CAPITAL GUARDIAN o Capital Guardian Trust Company RESEARCH - ------------------------------------------------------------------------------------------- EQ/CAYWOOD-SCHOLL HIGH o Caywood-Scholl Capital Management YIELD BOND - ------------------------------------------------------------------------------------------- EQ/DAVIS NEW YORK VENTURE o Davis Selected Advisers, L.P. - ------------------------------------------------------------------------------------------- EQ/EQUITY 500 INDEX o AllianceBernstein L.P. - ------------------------------------------------------------------------------------------- EQ/EVERGREEN INTERNATIONAL o Evergreen Investment Management BOND Company, LLC o First International Advisors, LLC (dba "Evergreen International") - ------------------------------------------------------------------------------------------- EQ/EVERGREEN OMEGA o Evergreen Investment Management Company, LLC - ------------------------------------------------------------------------------------------- EQ/FI MID CAP o Fidelity Management & Research Company - ------------------------------------------------------------------------------------------- EQ/FRANKLIN INCOME o Franklin Advisers, Inc. - ------------------------------------------------------------------------------------------- EQ/FRANKLIN SMALL CAP VALUE o Franklin Advisory Services, LLC - ------------------------------------------------------------------------------------------- EQ/FRANKLIN TEMPLETON o AXA Equitable FOUNDING STRATEGY - -------------------------------------------------------------------------------------------
Contract features and benefits 33
- ------------------------------------------------------------------------------------------- EQ Advisors Trust Portfolio Name Objective - ------------------------------------------------------------------------------------------- EQ/GAMCO MERGERS AND Seeks to achieve capital appreciation. ACQUISITIONS - ------------------------------------------------------------------------------------------- EQ/GAMCO SMALL COMPANY Seeks to maximize capital appreciation. VALUE - ------------------------------------------------------------------------------------------- EQ/INTERNATIONAL CORE PLUS Seeks to achieve long-term growth of capital. - ------------------------------------------------------------------------------------------- EQ/INTERNATIONAL GROWTH Seeks to achieve capital appreciation. - ------------------------------------------------------------------------------------------- EQ/JPMORGAN CORE BOND Seeks to provide a high total return consistent with mod- erate risk to capital and maintenance of liquidity. - ------------------------------------------------------------------------------------------- EQ/JPMORGAN VALUE Seeks to achieve long-term capital appreciation. OPPORTUNITIES - ------------------------------------------------------------------------------------------- EQ/LARGE CAP CORE PLUS Seeks to achieve long-term growth of capital with a sec- ondary objective to seek reasonable current income. For purposes of this Portfolio, the words "reasonable current income" mean moderate income. - ------------------------------------------------------------------------------------------- EQ/LARGE CAP GROWTH PLUS Seeks to provide long-term capital growth - ------------------------------------------------------------------------------------------- EQ/LEGG MASON VALUE EQUITY Seeks to achieve long-term growth of capital. - ------------------------------------------------------------------------------------------- EQ/LONG TERM BOND Seeks to maximize income and capital appreciation through investment in long-maturity debt obligations. - ------------------------------------------------------------------------------------------- EQ/LORD ABBETT GROWTH AND Seeks to achieve capital appreciation and growth of INCOME income without excessive fluctuation in market value. - ------------------------------------------------------------------------------------------- EQ/LORD ABBETT LARGE CAP Seeks to achieve capital appreciation and growth of CORE income with reasonable risk. - ------------------------------------------------------------------------------------------- EQ/LORD ABBETT MID CAP VALUE Seeks to achieve capital appreciation. - ------------------------------------------------------------------------------------------- EQ/MARSICO FOCUS Seeks to achieve long-term growth of capital. - ------------------------------------------------------------------------------------------- EQ/MID CAP VALUE PLUS Seeks to achieve long-term capital appreciation. - ------------------------------------------------------------------------------------------- EQ/MONEY MARKET Seeks to obtain a high level of current income, preserve its assets and maintain liquidity. - ------------------------------------------------------------------------------------------- EQ/MONTAG & CALDWELL Seeks to achieve capital appreciation. GROWTH EQ/MUTUAL SHARES Seeks to achieve capital appreciation, which may occa- sionally be short-term, and secondarily, income. - ------------------------------------------------------------------------------------------- EQ/OPPENHEIMER GLOBAL Seeks to achieve capital appreciation. - ------------------------------------------------------------------------------------------- EQ/OPPENHEIMER MAIN STREET Seeks to achieve long-term capital appreciation. OPPORTUNITY - ------------------------------------------------------------------------------------------- - --------------------------------------------------------------------------- EQ Advisors Trust Investment Manager (or Sub-Adviser(s), as Portfolio Name applicable) - --------------------------------------------------------------------------- EQ/GAMCO MERGERS AND o GAMCO Asset Management Inc. ACQUISITIONS - --------------------------------------------------------------------------- EQ/GAMCO SMALL COMPANY o GAMCO Asset Management Inc. VALUE - --------------------------------------------------------------------------- EQ/INTERNATIONAL CORE PLUS o AXA Equitable o Mellon Capital Management Corporation o Wentworth Hauser and Violich, Inc. - --------------------------------------------------------------------------- EQ/INTERNATIONAL GROWTH o MFS Investment Management - --------------------------------------------------------------------------- EQ/JPMORGAN CORE BOND o JPMorgan Investment Management Inc. - --------------------------------------------------------------------------- EQ/JPMORGAN VALUE o JPMorgan Investment Management Inc. OPPORTUNITIES - --------------------------------------------------------------------------- EQ/LARGE CAP CORE PLUS o AXA Equitable o Institutional Capital LLC o Mellon Capital Management Corporation - --------------------------------------------------------------------------- EQ/LARGE CAP GROWTH PLUS o AXA Equitable o Marsico Capital Management, LLC o Mellon Capital Management Corporation - --------------------------------------------------------------------------- EQ/LEGG MASON VALUE EQUITY o Legg Mason Capital Management, Inc. - --------------------------------------------------------------------------- EQ/LONG TERM BOND o BlackRock Financial Management, Inc. - --------------------------------------------------------------------------- EQ/LORD ABBETT GROWTH AND o Lord, Abbett & Co. LLC INCOME - --------------------------------------------------------------------------- EQ/LORD ABBETT LARGE CAP o Lord, Abbett & Co. LLC CORE - --------------------------------------------------------------------------- EQ/LORD ABBETT MID CAP VALUE o Lord, Abbett & Co. LLC - --------------------------------------------------------------------------- EQ/MARSICO FOCUS o Marsico Capital Management, LLC - --------------------------------------------------------------------------- EQ/MID CAP VALUE PLUS o AXA Equitable o Mellon Capital Management Corporation o Wellington Management Company LLP - --------------------------------------------------------------------------- EQ/MONEY MARKET o The Dreyfus Corporation - --------------------------------------------------------------------------- EQ/MONTAG & CALDWELL o Montag & Caldwell, Inc. GROWTH EQ/MUTUAL SHARES o Franklin Mutual Advisers, LLC - --------------------------------------------------------------------------- EQ/OPPENHEIMER GLOBAL o OppenheimerFunds, Inc. - --------------------------------------------------------------------------- EQ/OPPENHEIMER MAIN STREET o OppenheimerFunds, Inc. OPPORTUNITY - ---------------------------------------------------------------------------
34 Contract features and benefits
- --------------------------------------------------------------------------------------- EQ Advisors Trust Portfolio Name Objective - --------------------------------------------------------------------------------------- EQ/OPPENHEIMER MAIN STREET Seeks to achieve capital appreciation. SMALL CAP - --------------------------------------------------------------------------------------- EQ/PIMCO REAL RETURN Seeks to achieve maximum real return consistent with preservation of real capital and prudent investment man- agement. - --------------------------------------------------------------------------------------- EQ/SHORT DURATION BOND Seeks to achieve current income with reduced volatility of principal. - --------------------------------------------------------------------------------------- EQ/SMALL COMPANY INDEX Seeks to replicate as closely as possible (before the deduction of Portfolio expenses) the total return of the Russell 2000 Index. - --------------------------------------------------------------------------------------- EQ/T. ROWE PRICE GROWTH Seeks to achieve long-term capital appreciation and STOCK secondarily, income. - --------------------------------------------------------------------------------------- EQ/TEMPLETON GROWTH Seeks to achieve long-term capital growth. - --------------------------------------------------------------------------------------- EQ/UBS GROWTH AND INCOME Seeks to achieve total return through capital appreciation with income as a secondary consideration. - --------------------------------------------------------------------------------------- EQ/VAN KAMPEN COMSTOCK Seeks to achieve capital growth and income. - --------------------------------------------------------------------------------------- EQ/VAN KAMPEN EMERGING Seeks to achieve long-term capital appreciation. MARKETS EQUITY - --------------------------------------------------------------------------------------- EQ/VAN KAMPEN MID CAP Seeks to achieve capital growth. GROWTH - --------------------------------------------------------------------------------------- EQ/VAN KAMPEN REAL ESTATE Seeks to provide above average current income and long- term capital appreciation. - --------------------------------------------------------------------------------------- - --------------------------------------------------------------------------- EQ Advisors Trust Investment Manager (or Sub-Adviser(s), as Portfolio Name applicable) - --------------------------------------------------------------------------- EQ/OPPENHEIMER MAIN STREET o OppenheimerFunds, Inc. SMALL CAP - --------------------------------------------------------------------------- EQ/PIMCO REAL RETURN o Pacific Investment Management Company, LLC - --------------------------------------------------------------------------- EQ/SHORT DURATION BOND o BlackRock Financial Management, Inc. - --------------------------------------------------------------------------- EQ/SMALL COMPANY INDEX o AllianceBernstein L.P. - --------------------------------------------------------------------------- EQ/T. ROWE PRICE GROWTH o T. Rowe Price Associates, Inc. STOCK - --------------------------------------------------------------------------- EQ/TEMPLETON GROWTH o Templeton Global Advisors Limited - --------------------------------------------------------------------------- EQ/UBS GROWTH AND INCOME o UBS Global Asset Management (Americas) Inc. - --------------------------------------------------------------------------- EQ/VAN KAMPEN COMSTOCK o Morgan Stanley Investment Management Inc. - --------------------------------------------------------------------------- EQ/VAN KAMPEN EMERGING o Morgan Stanley Investment Management Inc. MARKETS EQUITY - --------------------------------------------------------------------------- EQ/VAN KAMPEN MID CAP o Morgan Stanley Investment Management Inc. GROWTH - --------------------------------------------------------------------------- EQ/VAN KAMPEN REAL ESTATE o Morgan Stanley Investment Management Inc. - ---------------------------------------------------------------------------
You should consider the investment objectives, risks and charges and expenses of the portfolios carefully before investing. The prospectuses for the Trusts contain this and other important information about the portfolios. The prospectuses should be read carefully before investing. Contract features and benefits 35 GUARANTEED INTEREST OPTION The guaranteed interest option is part of our general account and pays interest at guaranteed rates. We discuss our general account in "More information" later in this prospectus. We assign an interest rate to each amount allocated to the guaranteed interest option. This rate is guaranteed for a specified period. The rate may be different depending upon certain factors including the type and series of your contract and when the allocation is made. Therefore, different interest rates may apply to different amounts in the guaranteed interest option. We credit interest daily to amounts in the guaranteed interest option. There are three levels of interest in effect at the same time in the guaranteed interest option: (1) the minimum interest rate guaranteed over the life of the contract, (2) the annual minimum guaranteed interest rate for the calendar year, and (3) the current interest rate. We set current interest rates periodically, according to our procedures that we have in effect at the time. All interest rates are effective annual rates, but before deduction of annual administrative charges or any withdrawal charges. Generally, the annual minimum guaranteed interest rate for 2008 is 2.75% or 4.0% depending on the lifetime guaranteed minimum rate of your contract. Depending on your contract type, contract series, and the state where your contract is issued, the lifetime minimum guaranteed interest rate ranges from 1.0% to 3.0% (may be 4.0% for series 100 NQ contracts in certain states). The lifetime minimum guaranteed interest rate is shown in your contract. The annual minimum guaranteed interest rate will never be less than the lifetime minimum guaranteed interest rate. Check with your financial professional as to which rate applies in your state and to your contract series. Current interest rates will never be less than the annual minimum guaranteed interest rate. FIXED MATURITY OPTIONS We offer fixed maturity options with maturity dates generally ranging from one to ten years (one to seven in Oregon). We will not accept allocations to a fixed maturity option if on the date the contribution or transfer is to be applied the rate to maturity is 3%. This means that at points in time there may be no fixed maturity options available. You can allocate your contributions to one or more of these fixed maturity options. However, you may not allocate more than one contribution to any one fixed maturity option. These amounts become part of a non-unitized separate account. They will accumulate interest at the "rate to maturity" for each fixed maturity option. The total amount you allocate to and accumulate in each fixed maturity option is called the "fixed maturity amount." Your financial professional can provide you with the approval status of the fixed maturity options in your state. - -------------------------------------------------------------------------------- Fixed maturity options generally range from one to ten years to maturity. - -------------------------------------------------------------------------------- The rate to maturity you will receive for each fixed maturity option is the rate to maturity in effect for new contributions allocated to that fixed maturity option on the date we apply your contribution. On the maturity date of a fixed maturity option your fixed maturity amount, assuming you have not made any withdrawals or transfers, will equal your contribution to that fixed maturity option plus interest, at the rate to maturity for that contribution. This is the fixed maturity option's "maturity value." Before maturity, the current value we will report for your fixed maturity amount will reflect a market value adjustment. Your current value will reflect the market value adjustment that we would make if you were to withdraw all of your fixed maturity amounts on the date of the report. We call this your "market adjusted amount." FIXED MATURITY OPTIONS AND MATURITY DATES. We currently offer fixed maturity options ending on June 15th for maturity years ranging from one through ten. Not all fixed maturity options will be available for annuitant ages 76 and above. See "Allocating your contributions" below. As fixed maturity options expire, we expect to add maturity years so that generally 10 (7 in Oregon) fixed maturity options are available at any time. We will not accept allocations to a fixed maturity option if on the date the contribution is to be applied: o you previously allocated a contribution or made a transfer to the same fixed maturity option; or o the rate to maturity is 3%; or o the fixed maturity option's maturity date is within 45 days; or o the fixed maturity option's maturity date is later than the date annuity payments are to begin. YOUR CHOICES AT THE MATURITY DATE. We will notify you at least 45 days before each of your fixed maturity options is scheduled to mature. At that time, you may choose to have one of the following take place on the maturity date, as long as none of the conditions listed above or in "Allocating your contributions," below would apply: (a) transfer the maturity value into another available fixed maturity option, or into any of the variable investment options; or (b) withdraw the maturity value (there may be a withdrawal charge). If we do not receive your choice on or before the fixed maturity option's maturity date, we will automatically transfer your maturity value into the next available fixed maturity option (or another investment option if we are required to do so by any state regulation). As of February 15, 2008, the next available maturity date was June 15, 2013 (see "About our fixed maturity options" in "More information" later in this prospectus). We may change our procedures in the future. MARKET VALUE ADJUSTMENT. If you make any withdrawals (including transfers, surrender or termination of your contract, or when we make deductions for charges) from a fixed maturity option before it matures we will make a market value adjustment, which will increase or decrease any fixed maturity amount you have in that fixed maturity option. The amount of the adjustment will depend on two factors: (a) the difference between the rate to maturity that applies to the amount being withdrawn and the rate to maturity in effect at that time for new allocations to that same fixed maturity option, and (b) the length of time remaining until the maturity date. 36 Contract features and benefits In general, if interest rates rise from the time that you originally allocate an amount to a fixed maturity option to the time that you take a withdrawal, the market value adjustment will be negative. Likewise, if interest rates drop at the end of that time, the market value adjustment will be positive. Also, the amount of the market value adjustment, either up or down, will be greater the longer the time remaining until the fixed maturity option's maturity date. Therefore, it is possible that the market value adjustment could greatly reduce your value in the fixed maturity options, particularly in the fixed maturity options with later maturity dates. We provide an illustration of the market adjusted amount of specified maturity values, an explanation of how we calculate the market value adjustment, and information concerning our general account and investments purchased with amounts allocated to the fixed maturity options, in "More information" later in this prospectus. Appendix III at the end of this prospectus provides an example of how the market value adjustment is calculated. SELECTING YOUR INVESTMENT METHOD You must choose one of the following methods for selecting your investment options: o MAXIMUM INVESTMENT OPTIONS CHOICE. Under this method, you may allocate contributions or transfer funds to any of the available investment options listed in A and B in the investment options chart. You can make transfers whenever you choose. However, there will be restrictions on the amount you can transfer out of the guaranteed interest option listed in A. o MAXIMUM TRANSFER FLEXIBILITY. Under this method, you may allocate contributions or transfer funds to any of the available investment options listed in A in the investment options chart and no transfer restrictions will apply. TEMPORARY REMOVAL OF TRANSFER RESTRICTIONS THAT APPLY TO THE INVESTMENT METHODS. From time to time, we may remove certain restrictions that apply to your investment method. If we do so, we will tell you. For example, if you elect the "Maximum investment options choice" method, for a limited time, there will be no restrictions on the amount you can transfer out of the guaranteed interest option listed in group "A." If you elect the "Maximum transfer flexibility" method, for a limited time, you will be able to use the fixed income variable investment options listed in group "B" as well as the fixed maturity options. We will also tell you at least 45 days in advance of the day that we intend to reimpose the transfer restrictions. When we reimpose the transfer restrictions, if you elect the "Maximum investment options choice" method, limits on transfers out of the guaranteed interest option will again apply. If you elect the "Maximum transfer flexibility" method, you will no longer be permitted to allocate new contributions to, or transfer amounts into the variable investment options in group "B" (including through our rebalancing program) or the fixed maturity options. However, amounts that are in any investment options that are not available under "Maximum transfer flexibility" can remain in these options. - -------------------------------------------------------------------------------- Investment Options - -------------------------------------------------------------------------------- A - -------------------------------------------------------------------------------- o Guaranteed Interest Option - -------------------------------------------------------------------------------- Domestic stocks - -------------------------------------------------------------------------------- o AXA Aggressive Allocation o EQ/Lord Abbett Mid Cap Value o AXA Moderate-Plus Allocation o EQ/Marsico Focus o EQ/AllianceBernstein Common Stock o EQ/Mid Cap Value PLUS o EQ/AllianceBernstein Large Cap o EQ/Montag & Caldwell Growth Growth o EQ/Mutual Shares o EQ/AllianceBernstein Small Cap o EQ/Oppenheimer Main Street Growth Opportunity o EQ/AllianceBernstein Value o EQ/Oppenheimer Main Street Small o EQ/Ariel Appreciation II Cap o EQ/AXA Rosenberg Value Long/Short o EQ/Small Company Index Equity o EQ/T. Rowe Price Growth Stock o EQ/BlackRock Basic Value Equity o EQ/Templeton Growth o EQ/Boston Advisors Equity Income o EQ/UBS Growth and Income o EQ/Calvert Socially Responsible o EQ/Van Kampen Comstock o EQ/Capital Guardian Growth o EQ/Van Kampen Mid Cap Growth o EQ/Capital Guardian Research o EQ/Van Kampen Real Estate o EQ/Davis New York Venture o Multimanager Aggressive Equity o EQ/Equity 500 Index o Multimanager Health Care o EQ/Evergreen Omega o Multimanager Large Cap Core Equity o EQ/FI Mid Cap o Multimanager Large Cap Growth o EQ/Franklin Small Cap Value o Multimanager Large Cap Value o EQ/Franklin Templeton Founding o Multimanager Mid Cap Growth Strategy o Multimanager Mid Cap Value o EQ/GAMCO Mergers and Acquisitions o Multimanager Small Cap Growth o EQ/GAMCO Small Company Value o Multimanager Small Cap Value o EQ/JPMorgan Value Opportunities o Multimanager Technology o EQ/Large Cap Core PLUS o Target 2015 Allocation(1) o EQ/Large Cap Growth PLUS o Target 2025 Allocation(1) o EQ/Legg Mason Value Equity o Target 2035 Allocation(1) o EQ/Lord Abbett Growth and Income o Target 2045 Allocation(1) o EQ/Lord Abbett Large Cap Core - -------------------------------------------------------------------------------- International stocks - -------------------------------------------------------------------------------- o EQ/AllianceBernstein International o EQ/Oppenheimer Global o EQ/BlackRock International Value o EQ/Van Kampen Emerging Markets o EQ/International Core PLUS Equity o EQ/International Growth o Multimanager International Equity - -------------------------------------------------------------------------------- Balanced/hybrid - -------------------------------------------------------------------------------- o AXA Moderate Allocation - -------------------------------------------------------------------------------- B - -------------------------------------------------------------------------------- Fixed income - -------------------------------------------------------------------------------- o AXA Conservative Allocation o EQ/JPMorgan Core Bond o AXA Conservative-Plus Allocation o EQ/Long Term Bond o EQ/AllianceBernstein Intermediate o EQ/Money Market Government Securities o EQ/PIMCO Real Return o EQ/AllianceBernstein Quality Bond o EQ/Short Duration Bond o EQ/Caywood-Scholl High Yield Bond o Multimanager Core Bond o EQ/Evergreen International Bond o Multimanager High Yield o EQ/Franklin Income - -------------------------------------------------------------------------------- Fixed maturity options - -------------------------------------------------------------------------------- The fixed maturity options are only available in states where approved. Transfer restrictions apply as indicated above under "Fixed maturity options and maturity dates." - -------------------------------------------------------------------------------- (1) Since these investment options, collectively, the "Target Allocation investment options," as they approach their respective target dates, and thereafter, are expected to invest more heavily in fixed income securities, we reserve the right to make them group "B" investment options at or after their respective target dates. Please note that if you select the "Maximum transfer flexibility" method, and have included any of the Target Allocation investment options among your investment options, you will be deemed to have changed to the "maximum investment options choice" method. If you select the "maximum transfer flexibility" method but have not included any of the Target Allocation investment options among your allocations, you will not be changed to the alternate method but those options will no longer be available to you. ALLOCATING YOUR CONTRIBUTIONS Once you have made your investment method choice, you may allocate your contributions to one or more, or all of the investment options that you have chosen, subject to any restrictions under the investment method you chose. However, you may not allocate more than one contribution to any one fixed maturity option. If the annuitant is age 76 or Contract features and benefits 37 older, you may only allocate contributions to fixed maturity options with maturities of five years or less. Allocations must be in whole percentages and you may change your allocation percentages at any time. However, the total of your allocations must equal 100%. Once your contributions are allocated to the investment options, they become part of your account value. We discuss account value in "Determining your contract's value," later in this prospectus. After your contract is issued, you may request that we add or eliminate any variable investment options that result in transfer restrictions. We reserve the right to deny your request. See "Transferring your money among investment options" later in this prospectus. The contract is between you and AXA Equitable. The contract is not an investment advisory account, and AXA Equitable is not providing any investment advice or managing the allocations under your contract. In the absence of a specific written arrangement to the contrary, you, as the owner of the contract, have the sole authority to make investment allocations and other decisions under the contract. Your AXA Advisors' financial professional is acting as a broker-dealer registered representative, and is not authorized to act as an investment advisor or to manage the allocations under your contract. If your financial professional is a registered representative with a broker-dealer other than AXA Advisors, you should speak with him/her regarding any different arrangements that may apply. YOUR RIGHT TO CANCEL WITHIN A CERTAIN NUMBER OF DAYS If for any reason you are not satisfied with your contract, you may return it to us for a refund. To exercise this cancellation right you must mail the contract directly to our processing office within 10 days after you receive it. In some states, this "free look" period may be longer. For contributions allocated to the variable investment options, your refund will equal your contributions, reflecting any investment gain or loss that also reflects the daily charges we deduct. For contributions allocated to the guaranteed interest option, your refund will equal the amount of the contribution but will not include interest. For contributions allocated to the fixed maturity options, your refund will equal the amount of the contribution allocated to the fixed maturity options reflecting any positive or negative market value adjustments. Some states require that we refund the full amount of your contribution (not including any investment gain or loss, interest, or market value adjustment). For an IRA contract returned to us within seven days after you receive it, we are required to refund the full amount of your contribution. We may require that you wait six months before you apply for a contract with us again if: o you cancel your contract during the free look period; or o you change your mind before you receive your contract whether we have received your contribution or not. Please see "Tax information" later in this prospectus for possible consequences of cancelling your contract. Also, if you fully or partially convert an existing traditional IRA contract to a Roth IRA or Roth Advantage, you may cancel your Roth IRA or Roth Advantage contract and return to a traditional IRA contract. Our processing office, or your financial professional, can provide you with the cancellation instructions. Ask for the form entitled "EQUI-VEST(SM) Roth IRA Re-Characterization Form." In addition to the cancellation right described above, you have the right to surrender your contract, rather than cancel it. Please see "Surrender of your contract to receive its cash value," later in this prospectus. Surrendering your contract may yield results different than canceling your contract, including a greater potential for taxable income. In some cases, your cash value upon surrender may be greater than your contributions to the contract. Please see "Tax information," later in this Prospectus for possible consequences of cancelling your contract. 38 Contract features and benefits 2. Determining your contract's value - -------------------------------------------------------------------------------- YOUR ACCOUNT VALUE AND CASH VALUE Your "account value" is the total of the: (i) values you have allocated to the variable investment options; (ii) the guaranteed interest option; and (iii) the market adjusted amounts you have in the fixed maturity options. These amounts are subject to certain fees and charges discussed under "Charges and expenses" later in this prospectus. Your contract also has a "cash value." At any time before annuity payments begin, your contract's cash value is equal to the account value, less: (i) any applicable withdrawal charges and (ii) the total amount or a pro rata portion of the annual administrative charge. Please see "Surrender of your contract to receive its cash value" in "Accessing your money" later in this prospectus. YOUR CONTRACT'S VALUE IN THE VARIABLE INVESTMENT OPTIONS Each variable investment option invests in shares of a corresponding portfolio. Your value in each variable investment option is measured by "units." The value of your units will increase or decrease as though you had invested it in the corresponding portfolio's shares directly. Your value, however, will be reduced by the amount of the fees and charges that we deduct under the contract. - -------------------------------------------------------------------------------- Units measure your value in each variable investment option. - -------------------------------------------------------------------------------- The unit value for each variable investment option depends on the investment performance of that option minus daily charges for mortality and expense risks and other expenses. On any day, your value in any variable investment option equals the number of units credited to that option, adjusted for any units purchased for or deducted from your contract under that option, multiplied by that day's value for one unit. The number of your contract units in any variable investment option does not change unless they are: (i) increased to reflect additional contributions; (ii) decreased to reflect a withdrawal (plus applicable withdrawal charges); or (iii) increased to reflect a transfer into, or decreased to reflect a transfer out of a variable investment option. In addition, the annual administrative charge or third-party transfer or exchange charge, will reduce the number of units credited to your contract. A description of how unit values are calculated is found in the SAI. YOUR CONTRACT'S VALUE IN THE GUARANTEED INTEREST OPTION Your value in the guaranteed interest option at any time will equal: your contributions and transfers to that option, plus interest, minus withdrawals and transfers out of the option, and charges we deduct. YOUR CONTRACT'S VALUE IN THE FIXED MATURITY OPTIONS Your value in each fixed maturity option at any time before the maturity date is the market adjusted amount in each option, which reflects withdrawals out of the option and charges we deduct. This is equivalent to your fixed maturity amount increased or decreased by the market value adjustment. Your value, therefore, may be higher or lower than your contributions (less withdrawals) accumulated at the rate to maturity. At the maturity date, your value in a fixed maturity option will equal its maturity value, provided there have been no withdrawals or transfers. Determining your contract's value 39 3. Transferring your money among investment options - -------------------------------------------------------------------------------- TRANSFERRING YOUR ACCOUNT VALUE At any time before the date annuity payments are to begin, you can transfer some or all of your account value among the investment options, subject to the following: o You must transfer at least $300 of account value or, if less, the entire amount in the investment option. We may waive the $300 requirement. o You may not transfer to a fixed maturity option in which you already have value. o You may not transfer to a fixed maturity option that has a rate to maturity of 3%. o If the annuitant is age 76 or older, you must limit your transfers to fixed maturity options with maturities of five years or less. As of February 15, 2008, not all maturities were available. You may not transfer to a fixed maturity option if its maturity date is later than the date annuity payments are to begin. o If you make transfers out of a fixed maturity option other than at its maturity date the transfer will cause a market value adjustment. o If you choose the maximum investment options choice method for selecting investment options (including if you have been deemed to have selected that method as a result of a Target Allocation investment option in which you are invested becoming a group "B" option as described under "Selecting your investment method" in "Contract features and benefits" earlier in this Prospectus) the maximum amount you may transfer in any contract year from the guaranteed interest option to any other investment option is (a) 25% of the amount you had in the guaranteed interest option on the last day of the prior contract year or, if greater, (b) the total of all amounts you transferred from the guaranteed interest option to any other investment option in the prior contract year. o If you transfer money from another financial institution into the guaranteed interest option during your first contract year, and if you have selected the maximum investment options method (including if you have been deemed to have selected that method as a result of a Target Allocation investment option in which you are invested becoming a group "B" option as described under "Selecting your investment method" in "Contract features and benefits" earlier in this Prospectus) you may, during the balance of that contract year, transfer up to 25% of such initial guaranteed interest option balance to any other investment option. See Appendix I for transfer restrictions under Original Contracts. Upon advance notice to you, we may change or establish additional restrictions on transfers among the investment options, including limitations on the number, frequency, or dollar amount of transfers. A transfer request does not change your percentages for allocating current or future contributions among the investment options. Our current transfer restrictions are set forth in the "Disruptive transfer activity" section below. You may request a transfer in writing or by telephone using TOPS or online using EQAccess. You must send in all signed written requests directly to our processing office. Transfer requests should specify: (1) the contract number, (2) the dollar amounts to be transferred, and (3) the investment options to and from which you are transferring. We will confirm all transfers in writing. Please see "Allocating your contributions" in "Contract features and benefits" for more information about your role in managing your allocations. DISRUPTIVE TRANSFER ACTIVITY You should note that the contract is not designed for professional "market timing" organizations, or other organizations or individuals engaging in a market timing strategy. The contract is not designed to accommodate programmed transfers, frequent transfers or transfers that are large in relation to the total assets of the underlying portfolio. Frequent transfers, including market timing and other program trading or short-term trading strategies, may be disruptive to the underlying portfolios in which the variable investment options invest. Disruptive transfer activity may adversely affect performance and the interests of long-term investors by requiring a portfolio to maintain larger amounts of cash or to liquidate portfolio holdings at a disadvantageous time or price. For example, when market timing occurs, a portfolio may have to sell its holdings to have the cash necessary to redeem the market timer's investment. This can happen when it is not advantageous to sell any securities, so the portfolio's performance may be hurt. When large dollar amounts are involved, market timing can also make it difficult to use long-term investment strategies because a portfolio cannot predict how much cash it will have to invest. In addition, disruptive transfers or purchases and redemptions of portfolio investments may impede efficient portfolio management and impose increased transaction costs, such as brokerage costs, by requiring the portfolio manager to effect more frequent purchases and sales of portfolio securities. Similarly, a portfolio may bear increased administrative costs as a result of the asset level and investment volatility that accompanies patterns of excessive or short-term trading. Portfolios that invest a significant portion of their assets in foreign securities or the securities of small- and mid-capitalization companies tend to be subject to the risks associated with market timing and short-term trading strategies to a greater extent than portfolios that do not. Securities trading in overseas markets present time zone arbitrage opportunities when events affecting portfolio securities values occur after the close of the overseas market but prior to the close of the U.S. markets. Securities of small- and mid-capitalization companies present arbitrage opportunities because the market for such securities may be less liquid than the market for securities of larger companies, 40 Transferring your money among investment options which could result in pricing inefficiencies. Please see the prospectuses for the underlying portfolios for more information on how portfolio shares are priced. We currently use the procedures described below to discourage disruptive transfer activity. You should understand, however, that these procedures are subject to the following limitations: (1) they primarily rely on the policies and procedures implemented by the underlying portfolios; (2) they do not eliminate the possibility that disruptive transfer activity, including market timing, will occur or that portfolio performance will be affected by such activity; and (3) the design of market timing procedures involves inherently subjective judgments, which we seek to make in a fair and reasonable manner consistent with the interests of all contract owners. We offer investment options with underlying portfolios that are part of AXA Premier VIP Trust and EQ Advisors Trust (together, the "trusts"). The trusts have adopted policies and procedures regarding disruptive transfer activity. They discourage frequent purchases and redemptions of portfolio shares and will not make special arrangements to accommodate such transactions. They aggregate inflows and outflows for each portfolio on a daily basis. On any day when a portfolio's net inflows or outflows exceed an established monitoring threshold, the trust obtains from us contract owner trading activity. The trusts currently consider transfers into and out of (or vice versa) the same variable investment option within a five business day period as potentially disruptive transfer activity. Each trust reserves the right to reject a transfer that it believes, in its sole discretion, is disruptive (or potentially disruptive) to the management of one of its portfolios. Please see the prospectuses for the trusts for more information. When a contract owner is identified as having engaged in a potentially disruptive transfer under the contract for the first time, a letter is sent to the contract owner explaining that there is a policy against disruptive transfer activity and that if such activity continues certain transfer privileges may be eliminated. If and when the contract owner is identified a second time as engaged in potentially disruptive transfer activity under the contract, we currently prohibit the use of voice, fax and automated transaction services. We currently apply such action for the remaining life of each affected contract. We or a trust may change the definition of potentially disruptive transfer activity, the monitoring procedures and thresholds, any notification procedures, and the procedures to restrict this activity. Any new or revised policies and procedures will apply to all contract owners uniformly. We do not permit exceptions to our policies restricting disruptive transfer activity. It is possible that a trust may impose a redemption fee designed to discourage frequent or disruptive trading by contract owners. As of the date of this prospectus, the trusts had not implemented such a fee. If a redemption fee is implemented by a trust, that fee, like any other trust fee, will be borne by the contract owner. Contract owners should note that it is not always possible for us and the underlying trusts to identify and prevent disruptive transfer activity. In addition, because we do not monitor for all frequent trading at the separate account level, contract owners may engage in frequent trading which may not be detected, for example, due to low net inflows or outflows on the particular day(s). Therefore, no assurance can be given that we or the trusts will successfully impose restrictions on all potentially disruptive transfers. Because there is no guarantee that disruptive trading will be stopped, some contract owners may be treated differently than others, resulting in the risk that some contract owners may be able to engage in frequent transfer activity while others will bear the effect of that frequent transfer activity. The potential effects of frequent transfer activity are discussed above. AUTOMATIC TRANSFER OPTIONS INVESTMENT SIMPLIFIER You may choose from two automatic options for transferring amounts from the guaranteed interest option to the variable investment options. The transfer options are the "fixed-dollar option" and the "interest sweep." You may select one or the other but not both. If you elect to use rebalancing option II (discussed below), you may not choose either of the investment simplifier options. FIXED-DOLLAR OPTION. Under this option, you may elect to have a fixed-dollar amount transferred out of the guaranteed interest option and into the variable investment options of your choice on a monthly basis. You can specify the number of monthly transfers or instruct us to continue to make monthly transfers until all available amounts in the guaranteed interest option have been transferred out. In order to elect the fixed-dollar option, you must have a minimum of $5,000 in the guaranteed interest option on the date we receive your election form at our processing office. You also must elect to transfer at least $50 per month. The fixed-dollar option is subject to the guaranteed interest option transfer limitation described above. INTEREST SWEEP. Under the interest sweep, we will make transfers on a monthly basis from amounts in the guaranteed interest option. The amount we will transfer will be the interest credited to amounts you have in the guaranteed interest option from the last business day of the prior month to the last business day of the current month. You must have at least $7,500 in the guaranteed interest option on the date we receive your election and on the last business day of each month thereafter to participate in the interest sweep option. See Appendix I for restrictions under Original Contracts. The fixed-dollar option and interest sweep feature are forms of dollar-cost averaging. Dollar-cost averaging allows you to gradually allocate amounts to the variable investment options by periodically transferring approximately the same dollar amount to the variable investment options you select. This will cause you to purchase more units if the unit's value is low and fewer units if the unit's value is high. Therefore, you may get a lower average cost per unit over the long term. This plan of investing, however, does not guarantee that you will earn a profit or be protected against losses. WHEN YOUR PARTICIPATION IN THE INVESTMENT SIMPLIFIER WILL END. Your participation in the investment simplifier option will end: o Under the fixed-dollar option, when either the number of designated monthly transfers have been completed or the amount you have available in the guaranteed interest option has been transferred out. Transferring your money among investment options 41 o Under the interest sweep, when the amount you have in the guaranteed interest option falls below $7,500 (determined on the last business day of the month) for two months in a row. o Under either option, on the date we receive at our processing office, your written request to cancel automatic transfers, or on the date your contract terminates. REBALANCING YOUR ACCOUNT VALUE Our rebalancing program offers two options that you can use to automatically reallocate your account value. Option I permits reallocation among the variable investment options only and option II permits reallocation among the variable investment options and the guaranteed interest option. You must tell us: (a) in whole percentages only, the percentage you want invested in each variable investment option (and the guaranteed interest option, if applicable), and (b) how often you want the rebalancing to occur (quarterly, semiannually, or annually). While your rebalancing program is in effect, we will transfer amounts among each variable investment option (and the guaranteed interest option, if applicable), so that the percentage of your account value that you specify is invested in each option at the end of each rebalancing date. Your entire account value in the variable investment options (and guaranteed interest option, if applicable) must be included in the rebalancing program. Transfer restrictions out of the guaranteed interest option may apply in accordance with the last two bullets under "Transferring your account value," above, in this section. The initial transfer under the rebalancing program (based on your account value as of the day before the program is established) is not permitted to cause the transfer restrictions to be violated, and any rebalancing election that would be a violation of the transfer restrictions will not be put into effect. However, if the program can be established, once it is in effect, the transfer restrictions will be waived for the rebalancing transfers. - -------------------------------------------------------------------------------- Rebalancing does not assure a profit or protect against loss. You should periodically review your allocation percentages as your needs change. You may want to discuss the rebalancing program with your financial professional and/or financial adviser before electing the program. - -------------------------------------------------------------------------------- You may elect the rebalancing program at any time. To be eligible, you must have (i) at least $5,000 of account value in the variable investment options for option I, or (ii) at least $5,000 of account value in the variable investment options and the guaranteed interest option, combined for option II. Rebalancing is not available for amounts you have allocated in the fixed maturity options. If you elect to use option II, you may not choose either of the investment simplifier automatic options. If you request a transfer while the rebalancing program is in effect, we will process the transfer as requested. The rebalancing program will then remain in effect unless you request in writing that it be cancelled. You may change your allocation instructions or cancel the program at any time. 42 Transferring your money among investment options 4. Accessing your money - -------------------------------------------------------------------------------- WITHDRAWING YOUR ACCOUNT VALUE You have several ways to withdraw your account value before annuity payments begin. The table below shows the methods available under each type of contract. More information follows the table. For the tax consequences of taking withdrawals, see "Tax information" later in this prospectus. - -------------------------------------------------------------------------------- Method of Withdrawal - -------------------------------------------------------------------------------- Minimum Contract Partial Systematic distribution - -------------------------------------------------------------------------------- NQ Yes Yes No traditional IRA Yes Yes Yes QP IRA Yes Yes Yes Roth Advantage Yes Yes No Roth IRA Yes Yes No - -------------------------------------------------------------------------------- PARTIAL WITHDRAWALS (All contracts) You may take partial withdrawals from your account value at any time while the annuitant is living and before annuity payments begin. The minimum amount you may withdraw at any time is $300. If you request a withdrawal that leaves you with an account value of less than $500, we may treat it as a request to surrender the contract for its cash value. See "Surrender of your contract to receive its cash value" below. Partial withdrawals in excess of the 10% free withdrawal amount may be subject to a withdrawal charge. (See "10% free withdrawal amount" in "Charges and expenses" later in this prospectus.) SYSTEMATIC WITHDRAWALS (All contracts) If you have at least $20,000 of account value in the variable investment options and the guaranteed interest option, you may take systematic withdrawals on a monthly or quarterly basis. The minimum amount you may take for each withdrawal is $250. We will make the withdrawal on any day of the month that you select as long as it is not later than the 28th day of the month. If you do not select a date, your withdrawals will be made on the first day of the month. A check for the amount of the withdrawal will be mailed to you or, if you prefer, we will electronically transfer the money to your checking or savings account. You may withdraw either the amount of interest earned in the guaranteed interest option or a fixed-dollar amount from either the variable investment options or the guaranteed interest option. If you elect the interest option, a minimum of $20,000 must be maintained in the guaranteed interest option. If you elect the fixed-dollar option, you do not have to maintain a minimum amount. If you choose to have a fixed dollar amount taken from the variable investment options, you may elect to have the amount of the withdrawal subtracted from your account value in one of three ways: (1) pro rata from more than one variable investment option (without using up your total value in those options); or (2) pro rata from more than one variable investment option (until your value in those options is used up); or (3) you may specify a dollar amount from only one variable investment option. If you choose this option and the value in that variable investment option drops below the requested amount, the requested withdrawal amount will be taken on a pro rata basis from all the variable investment options in which you have value. You can cancel the systematic withdrawal option at any time. Amounts withdrawn in excess of the 10% free withdrawal amount may be subject to a withdrawal charge. LIFETIME MINIMUM DISTRIBUTION WITHDRAWALS (Traditional IRA and QP IRA contracts -- See "Tax information" later in this prospectus) We offer our "required minimum distribution (RMD) automatic withdrawal option" to help you meet lifetime required minimum distributions under federal income tax rules. This is not the exclusive way for you to meet these rules. After consultation with your tax adviser, you may decide to compute required minimum distributions yourself and request partial withdrawals. In such a case, a withdrawal charge may apply if your withdrawal exceeds the free withdrawal amount. You may choose instead an annuity payout option. Before electing an account-based withdrawal option, please refer to "Required minimum distributions" under "Individual Retirement Arrangements ("IRAs")" in "Tax information" later in this prospectus. Also, the actuarial present value of additional contract benefits must be added to the account value in calculating required minimum distribution withdrawals, which could increase the amount required to be withdrawn. For this purpose additional annuity contract benefits may include enhanced death benefits. You may elect our RMD automatic withdrawal option in the year in which you reach age 70-1/2 or in any later year. To elect this option, you must have account value in the variable investment options and the guaranteed interest option of at least $2,000. The minimum amount we will pay out is $300, or if less, your account value. If your account value is less than $500 after the withdrawal, we may terminate your contract and pay you its cash value. Currently, minimum distribution withdrawal payments will be made annually. Currently, we do not impose a withdrawal charge on minimum distribution withdrawals if you are enrolled in our RMD automatic Accessing your money 43 withdrawal option. The minimum distribution withdrawal will be taken into account in determining if any subsequent withdrawal taken in the same contract year exceeds the 10% free withdrawal amount. - -------------------------------------------------------------------------------- We will send to traditional IRA and QP IRA owners a form outlining the minimum distribution options available in the year you reach age 70-1/2 (if you have not begun your annuity payments before that time). - -------------------------------------------------------------------------------- HOW WITHDRAWALS ARE TAKEN FROM YOUR ACCOUNT VALUE Unless you specify otherwise, we will subtract your withdrawals on a pro rata basis from your values in the investment options. A market value adjustment will apply if withdrawals are taken from the fixed maturity options. AUTOMATIC DEPOSIT SERVICE If you are receiving Required Minimum Distribution payments from a traditional IRA or QP IRA contract, you may use our automatic deposit service. Under this service, we will automatically deposit the Required Minimum Distribution payment from your traditional IRA or QP IRA contract directly into an EQUI-VEST(SM) NQ or Roth IRA or an EQUI-VEST(SM) Express (if available in your state) NQ or Roth IRA contract, according to your allocation instructions. Please note that you must have compensation or earned income for the year of the contribution to make regular contributions to Roth IRAs. See "Tax information -- Roth IRAs" later in this prospectus. DEPOSIT OPTION FOR NQ CONTRACTS ONLY You can elect the deposit option for your benefit while you are alive, or for the benefit of your beneficiary. Proceeds from your NQ contract can be deposited with us for a period you select (including one for as long as the annuitant lives). We will hold the amounts in our general account. We will credit interest on the amounts at a guaranteed rate for the specified period. We will pay out the interest on the amount deposited at least once each year. If you elect this option for your benefit, you deposit the amount with us that you would otherwise apply to an annuity payout option. If you elect this option for your beneficiary before the annuitant's death, death benefit proceeds can be left on deposit with us subject to certain restrictions, instead of being paid out to the beneficiary. Other restrictions apply to the deposit option. Your financial professional can provide more information about this option, or you may call our processing office. SURRENDER OF YOUR CONTRACT TO RECEIVE ITS CASH VALUE You may surrender your contract to receive its cash value at any time while the annuitant is living and before you begin to receive annuity payments. For a surrender to be effective, we must receive your written request and your contract at our processing office. We will determine your cash value on the date we receive the required information. All benefits under the contract will terminate as of that date. You may receive your cash value in a single sum payment or apply it to one or more of the annuity payout options. See "Your annuity payout options" below. We will usually pay the cash value within seven calendar days, but we may delay payment as described in "When to expect payments" below. For the tax consequences of surrenders, see "Tax information" later in this prospectus. TERMINATION We may terminate your contract and pay you the cash value if: (1) your account value is less than $500 and you have not made contributions to your contract for a period of three years; or (2) you request a partial withdrawal that reduces your account value to an amount less than $500; or (3) you have not made any contributions within 120 days from your contract date. WHEN TO EXPECT PAYMENTS Generally, we will fulfill requests for payments out of the variable investment options within seven calendar days after the date of the transaction to which the request relates. These transactions may include applying proceeds to a variable annuity payout option, payment of a death benefit, payment of any amount you withdraw (less any withdrawal charge) and, upon surrender or termination, payment of the cash value. We may postpone such payments or applying proceeds for any period during which: (1) the New York Stock Exchange is closed or restricts trading, (2) the SEC determines that an emergency exists as a result of which sales of securities or determination of fair value of a variable investment option's assets is not reasonably practicable, or (3) the SEC, by order, permits us to defer payment to protect people remaining in the variable investment options. We can defer payment of any portion of your values in the guaranteed interest option and the fixed maturity options (other than for death benefits) for up to six months while you are living. All payments are made by check and are mailed to you (or the payee named in a tax-free exchange) by U.S. mail, unless you request that we use an express delivery or wire transfer service at your expense. YOUR ANNUITY PAYOUT OPTIONS EQUI-VEST(SM) offers you several choices of annuity payout options. Some enable you to receive fixed annuity payments and others enable you to receive variable annuity payments. You can choose from among the annuity payout options listed below. Restrictions may apply, depending on the type of contract you own or the annuitant's age at contract issue. 44 Accessing your money ANNUITY PAYOUT OPTIONS - -------------------------------------------------------------------------------- Fixed annuity payout options o Life annuity o Life annuity with period certain o Life annuity with refund certain o Period certain annuity - -------------------------------------------------------------------------------- Variable Immediate Annuity payout o Life annuity (not available in options (described in a separate NY) prospectus for this option) o Life annuity with period certain - -------------------------------------------------------------------------------- o Life annuity: An annuity that guarantees payments for the rest of the ------------ annuitant's life. Payments end with the last monthly payment before the annuitant's death. Because there is no continuation of benefits following the annuitant's death with this payout option, it provides the highest monthly payment of any of the life annuity options, so long as the annuitant is living. o Life annuity with period certain: An annuity that guarantees payments for -------------------------------- the rest of the annuitant's life. If the annuitant dies before the end of a selected period of time ("period certain"), payments continue to the beneficiary for the balance of the period certain. The period certain cannot extend beyond the annuitant's life expectancy or the joint life expectancy of the annuitant and the joint annuitant. A life annuity with a period certain is the form of annuity under the contracts that you will receive if you do not elect a different payout option. In this case the period certain will be based on the annuitant's age and will not exceed 10 years or the annuitant's life expectancy. o Life annuity with refund certain: An annuity that guarantees payments for -------------------------------- the rest of the annuitant's life. If the annuitant dies before the amount applied to purchase the annuity option has been recovered, payments to the beneficiary will continue until that amount has been recovered. This payout option is available only as a fixed annuity. o Period certain annuity: An annuity that guarantees payments for a specific ---------------------- period of time, usually 5, 10, 15, or 20 years. This guarantee period may not exceed the annuitant's life expectancy. This option does not guarantee payments for the rest of the annuitant's life. It does not permit any repayment of the unpaid principal, so you cannot elect to receive part of the payments as a single sum payment with the rest paid in monthly annuity payments. This payout option is available only as a fixed annuity. The life annuity, life annuity with period certain, and life annuity with refund certain payout options are available on a single life or joint and survivor life basis. The joint and survivor life annuity guarantees payments for the rest of the annuitant's life and, after the annuitant's death, to the survivor for life. We may offer other payout options not outlined here. Your financial professional can provide details. FIXED ANNUITY PAYOUT OPTIONS With fixed annuities, we guarantee fixed annuity payments that will be based either on the tables of guaranteed annuity purchase factors in your contract or on our then current annuity purchase factors, whichever is more favorable for you. VARIABLE IMMEDIATE ANNUITY PAYOUT OPTIONS Variable Immediate Annuities are described in a separate prospectus that is available from your financial professional. Before you select a Variable Immediate Annuity payout option, you should read the prospectus which contains important information that you should know. Variable Immediate Annuities may be funded through your choice of available variable investment options investing in portfolios of AXA Premier VIP Trust and EQ Advisors Trust. The contract also offers a fixed income annuity payout option that can be elected in combination with the variable income annuity payout option. The amount of each variable income annuity payment will fluctuate, depending upon the performance of the variable investment options, and whether the actual rate of investment return is higher or lower than an assumed base rate. We may offer other payout options not outlined here. Your financial professional can provide details. SELECTING AN ANNUITY PAYOUT OPTION When you select a payout option, we will issue you a separate written agreement confirming your right to receive annuity payments. We require you to return your contract before annuity payments begin. Unless you choose a different payout option, we will pay annuity payments under a life annuity with a period certain of 10 years. You choose whether these payments will be either fixed or variable. The contract owner and annuitant must meet the issue age and payment requirements. You can choose the date annuity payments are to begin, but generally it may not be earlier than thirteen months from the EQUI-VEST(SM) contract date. You can change the date your annuity payments are to begin anytime before that date as long as you do not choose a date later than the 28th day of any month or later than your EQUI-VEST(SM) contract's maturity date. Your EQUI-VEST(SM) contract's maturity date is the date by which you must either take a lump sum withdrawal or select an annuity payout option. The maturity date is generally the EQUI-VEST(SM) contract date anniversary that follows the annuitant's 90th birthday. This may be different in some states. Before your annuity payments are to begin, we will notify you by letter that the annuity payout options are available. Once you have selected a payout option and payments have begun, no change can be made, other than transfers among the variable investment options if a variable immediate annuity is selected. We currently offer different payment frequencies on certain annuity payout options. In general, the total annual payout will be lower for more frequent payouts (such as monthly) because of the increased administrative expenses associated with more frequent payouts. Also, in general, the longer the period over which we expect to make payments, the lower will be your payment each year. The amount of the annuity payments will depend on: (1) the amount applied to purchase the annuity; (2) the type of annuity chosen, and whether it is fixed or variable; (3) in the case of a life annuity, the annuitant's age (or the annuitant's and joint annuitant's ages); and Accessing your money 45 (4) in certain instances, the sex of the annuitant(s). If, at the time you elect a payout option, the amount to be applied is less than $2,000 or the initial payment under the form elected is less than $20 monthly, we reserve the right to pay the account value in a single sum rather than as payments under the payout option chosen. Please see Appendix IV later in this prospectus for state variations. EQUI-VEST(SM) AT RETIREMENT(SM) If you have a traditional IRA, Roth IRA, QP IRA, or NQ contract, you may be eligible to convert your EQUI-VEST(SM) contract to a new EQUI-VEST(SM) At Retirement(SM) contract. EQUI-VEST(SM) At Retirement(SM) is a deferred variable annuity contract that offers living benefits (Guaranteed withdrawal benefit for life or Guaranteed minimum income benefit) and enhanced death benefits. The EQUI-VEST(SM) At Retirement(SM) contract has no withdrawal charges. At the time of conversion, you must meet the following conditions in order to qualify for this conversion offer. You must be between the ages of 55 and 85, your contract must have an account value of at least $50,000, you must purchase at least one of the living or enhanced death benefits, there can be no withdrawal charges applicable under your existing EQUI-VEST(SM) contract, and no rollover/direct transfer contributions can have been made to the existing contract in the two contract years prior to the date you apply for the new contract. The written application for the new EQUI-VEST(SM) At Retirement(SM) contract must be received by our Processing Office no later than the close of business on December 31, 2016 or such later date as we state in writing to you. The EQUI-VEST(SM) At Retirement(SM) contract and its benefits, including the charges for such benefits are described in a separate prospectus. 46 Accessing your money 5. Charges and expenses - -------------------------------------------------------------------------------- CHARGES THAT AXA EQUITABLE DEDUCTS We deduct the following charges each day from the net assets of each variable investment option. These charges are reflected in the unit values of each variable investment option: o A mortality and expense risks charge o A charge for other expenses We deduct the following charges from your account value. When we deduct these charges from your variable investment options, we reduce the number of units credited to your contract: o On the last day of the contract year an annual administrative charge, if applicable o Charge for third-party transfer or exchange (series 300, 400 and 500 only) o At the time you make certain withdrawals or surrender your contract, or your contract is terminated -- a withdrawal charge, if applicable o At the time annuity payments are to begin -- charges designed to approximate certain taxes that may be imposed on us, such as premium taxes in your state. An annuity administrative fee may also apply More information about these charges appears below. The charges differ depending on which contract series you purchase. We will not increase these charges for the life of your contract, except as noted below. We may reduce certain charges under group or sponsored arrangements. See "Group or sponsored arrangements" below. To help with your retirement planning, we may offer other annuities with different charges, benefits and features. Please contact your financial professional for more information. CHARGES UNDER THE CONTRACTS MORTALITY AND EXPENSE RISKS CHARGE We deduct a daily charge from the net assets in each variable investment option to compensate us for mortality and expense risks, including the death benefit. The mortality risk we assume is the risk that annuitants as a group will live for a longer time than our actuarial tables predict. If that happens, we would be paying more in annuity benefits than we planned. For series 300, 400 and 500, we may change the actuarial basis for our guaranteed annuity payment tables, but only for new contributions and only at five year intervals from the contract date. Lastly, we assume a mortality risk to the extent that at the time of death, the guaranteed death benefit exceeds the cash value of the contract. The expense risk we assume is the risk that our expenses in providing the benefits and administering the contracts will be greater than we expect. To the extent that the mortality and expense risk charges are not needed to cover the actual expenses incurred, they may be considered an indirect reimbursement for certain sales and promotional expenses relating to the contracts. For each series the daily charge is a percentage of net assets that is equivalent to an annual rate of: o 1.10% current and maximum in each variable investment option under series 300 contracts o 1.10% current and 1.75% maximum in each variable investment option under series 400 contracts o 1.20% current and 1.75% maximum in each variable investment option under series 500 contracts o 0.56% current and 0.65% maximum under series 100 contracts, and 1.15% current and 1.24% maximum under series 200 contracts in the EQ/AllianceBernstein Common Stock and EQ/Money Market options o 0.50% current and maximum under series 100 contracts, and 1.09% current and maximum under series 200 contracts for all other variable investment options CHARGE FOR OTHER EXPENSES We deduct this daily charge from the net assets in each variable investment option. This charge, together with the annual administrative charge described below, is for providing administrative and financial accounting services under the contracts. The daily charge is equivalent to a maximum annual rate of: (i) under series 300, 400 and 500 contracts, 0.25% of the net assets in each variable investment option. For all variable investment options under series 300 and 400 other than the AXA Moderate Allocation, Multimanager Aggressive Equity, EQ/AllianceBernstein Common Stock and EQ/Money Market options, we currently deduct 0.24% of the net assets. We may, upon advance notice to you, increase the charge to 0.25% of the net assets for these variable investment options; (ii) under series 100 contracts, 0.84% of the net assets in each variable investment option. 0.60% of this charge is designed to reimburse us for research and development costs and for administrative expenses that are not covered by the annual administrative charge described below. The remaining 0.24% is to reimburse us for the cost of financial accounting services we provide under the contracts; (iii) under series 200 contracts, the charge for expenses and financial accounting is 0.25% of the net asset value in each variable investment option. MAXIMUM TOTAL CHARGES Under series 500 contracts, the total annual rate for the above charges is 1.45%. We may increase or decrease this total annual rate, but we Charges and expenses 47 may not increase it above a maximum rate of 2.00%. We will only make any increase after we have sent you advance notice. Any increase or decrease will apply only after the date of the change. Any changes we make will reflect differences in costs and anticipated expenses, and will not be unfairly discriminatory. Total Separate Account A annual expenses of the variable investment options (not including the Trusts fees and other expenses) are guaranteed not to exceed a total annual rate of (i) 1.35% for series 300; (ii) 1.49% for series 100 and 200 for the EQ/AllianceBernstein Common Stock and EQ/Money Market options; (iii) 1.34% for all the other options not listed in (ii) for series 100 and 200; and (iv) 2.00% for series 400. Under series 100 and 200 contracts for the AXA Moderate Allocation, Multimanager Aggressive Equity, EQ/AllianceBernstein Common Stock and EQ/Money Market options, the combined amount of the Separate Account A charges to these variable investment options and Trust charges for investment advisory fees and direct operating expenses may not exceed a total annual rate of 1.75% of the value of the assets held in each of those variable investment options. ANNUAL ADMINISTRATIVE CHARGE We deduct an administrative charge from your account value on the last business day of each contract year. We will deduct a pro rata portion of the charge if you surrender your contract, elect an annuity payout option, or the annuitant dies during the contract year. The charge is deducted pro rata from the variable investment options and the guaranteed interest option. If those amounts are insufficient, we will make up the required amounts from the fixed maturity options to the extent you have value in those options. Charges deducted from the fixed maturity options are considered withdrawals and, as such, will result in a market value adjustment. Under series 300, 400 and 500, during the first two contract years, the charge is equal to $30 or, if less, 2% of your current account value plus any amount previously withdrawn during the contract year. The charge is currently $30 for contract years three and later. We may increase this charge if our administrative costs rise, but the charge will never exceed $65 annually. We waive the charge if your account value is at least $25,000 for an NQ contract or $20,000 for an IRA contract. We reserve the right to deduct this charge on a quarterly, rather than annual basis. Under series 100 and 200, the charge is equal to $30 or, if less, 2% of the current account value plus any amount previously withdrawn during that contract year. We waive this charge if your account value is at least $10,000. We currently waive the annual administrative charge that would otherwise be deducted in the next contract year under any individually owned EQUI-VEST(SM) contract/certificate having an account value that, when combined with the account value of other EQUI-VEST(SM) contracts/certificates owned by the same person, exceeds $100,000 in the aggregate (as determined in January of each year). This does not apply to EQUI-VEST(SM) contracts/certificates owned by different members of the same household. We may change or discontinue this practice at any time without prior notice. CHARGE FOR THIRD-PARTY TRANSFER OR EXCHANGE Under series 300 (except in FL), 400 and 500 contracts, we impose a charge for making a direct transfer of amounts from your contract to a third party, such as in the case of a trustee-to-trustee transfer for an IRA contract, or if you request that your contract be exchanged for a contract issued by another insurance company. In either case, we will deduct from your account value any withdrawal charge that applies and a charge of $25 for each direct transfer or exchange. We reserve the right to increase this charge to a maximum of $65. WITHDRAWAL CHARGE A withdrawal charge may apply in three circumstances: (1) you make one or more withdrawals during a contract year; (2) you surrender your contract to receive its cash value; or (3) we terminate your contract. The amount of the charge will depend on whether the free withdrawal amount applies, and the availability of one or more exceptions. In order to give you the exact dollar amount of the withdrawal you request, we deduct the amount of the withdrawal and the amount of the withdrawal charge from your account value. Any amount deducted to pay withdrawal charges is also subject to a withdrawal charge. We deduct the withdrawal amount and the withdrawal charge pro rata from the variable investment options and the guaranteed interest option. If those amounts are insufficient, we will make up the required amounts from the fixed maturity options. If we deduct all or a portion of the withdrawal charge from the fixed maturity options, a market value adjustment will apply. See "About our fixed maturity options" in "More information" later in this prospectus. We may reduce the withdrawal charge in order to comply with any state law requirement. See "Contracts issued in New York -- fixed maturity options," below. o For series 100 and 200 NQ contracts, all series 300, 400, and 500 contracts The amount of the withdrawal charge we deduct is equal to 6% of contributions withdrawn that were made in the current and five prior contract years measured from the date of the withdrawal. In the case of surrenders, we will pay you the greater of the following up to a maximum of the account value: o the account value after any withdrawal charge has been imposed (cash value), or o the 10% free withdrawal amount plus the contributions made before the current and five prior participation years that have not been previously withdrawn plus 94% of (a) the remaining account value, minus (b) any administrative fees. Under series 100 and 200 NQ contracts, if the annuitant is age 59 or older when the contract is issued, this percentage will be 95% in the fifth contract year and 96% in the sixth contract year. There is a reduction in the withdrawal charge for older annuitants in the fifth and sixth contract years. For purposes of calculating the withdrawal charge, amounts withdrawn up to the 10% free withdrawal amount are not considered a withdrawal of any contribution. We also treat contributions that have been invested the longest as being withdrawn first. We treat contribu- 48 Charges and expenses tions as withdrawn before earnings for purposes of calculating the withdrawal charge. However, the federal income tax rules treat earnings under most NQ contracts as withdrawn first. See "Tax information" later in this prospectus. o For series 100 and 200 traditional IRA, QP IRA and Roth IRA The withdrawal charge equals a percentage of the amount withdrawn. The percentage that applies depends on the contract year in which the withdrawal is made, according to the following table: - -------------------------------- Contract Year(s) Charge - -------------------------------- 1 through 5 6%* 6 through 8 5 9 4 10 3 11 2 12 1 13 and later 0 - -------------------------------- * This percentage may be reduced at older ages for certain contracts. Your AXA Equitable financial professional can provide further details about the contract series you own. The total of all withdrawal charges assessed will not exceed 8% of all contributions made during the current contract year and the nine contract years before the withdrawal is made. ---------------------------------- We reserve the right to reduce or waive the withdrawal charge including transfers to a traditional IRA, QP IRA and Roth IRA from another EQUI-VEST(SM) contract. Any such charge will not be unfairly discriminatory. The withdrawal charge may be reduced in order to comply with any state law requirement. WHEN WITHDRAWAL CHARGES DO NOT APPLY o 10% free withdrawal amount. Each contract year you can withdraw up to 10% of your account value without paying a withdrawal charge. The 10% free withdrawal amount is determined using your account value at the time you request a withdrawal, minus any other withdrawals made during the contract year. For series 100 and 200 traditional IRA and Roth IRA contracts, the 10% free withdrawal amount described above will be available after the third contract year or you attain age 59-1/2. (Currently we are waiving this restriction.) For existing contract owners, if you have QP IRA contract number 11933I (series 100), the 10% free withdrawal amount described above was available after the third contract year. If you have QP IRA contract number 92QPI (series 200), the free withdrawal amount was available in the first contract year. o For series 100 and 200 contracts (i) For NQ contracts, the withdrawal charge does not apply if: o the annuitant dies and a death benefit is payable to the beneficiary; or o we receive a properly completed election form providing for the account value to be used to buy a life annuity payout option. (ii) For a traditional IRA, QP IRA and Roth IRA the withdrawal charge does not apply: o after five contract years and the annuitant is at least age 59-1/2; or o if you request a refund of an excess contribution within one month of the date on which the contribution is made; or o the annuitant dies and the death benefit is made available to the beneficiary; or o after five contract years and the annuitant is at least age 55 and the amount withdrawn is used to purchase from us a period certain annuity that extends beyond the annuitant's age 59-1/2 and allows no prepayment; or o after three contract years and the amount withdrawn is used to purchase from us a period certain annuity for a term of at least 10 years and allows no prepayment; or o if the amount withdrawn is applied to the election of a life contingent annuity payout option. o For series 300, 400 and 500 contracts (i) DEATH OR PURCHASE OF ANNUITY. The withdrawal charge does not apply if: (a) the annuitant dies and a death benefit is payable to the beneficiary; or (b) we receive a properly completed election form providing for the account value to be used to buy a life contingent annuity or a non-life annuity with a period certain for a term of at least ten years. (ii) DISABILITY, TERMINAL ILLNESS, OR CONFINEMENT TO NURSING HOME. The withdrawal charge also does not apply if: (a) The annuitant has qualified to receive Social Security disability benefits as certified by the Social Security Administration; or (b) We receive proof satisfactory to us (including certification by a licensed physician) that the annuitant's life expectancy is six months or less; or (c) The annuitant has been confined to a nursing home for more than 90 days (or such other period, as required in your state) as verified by a licensed physician. A nursing home for this purpose means one that 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. Some states may not permit us to waive the withdrawal charge in the above circumstances, or may limit the circumstances for which the Charges and expenses 49 withdrawal charge may be waived. Your financial professional can provide more information or you may contact our processing office. (iii) For traditional IRA, QP IRA and Roth IRA contracts the withdrawal charge also does not apply: o after six contract years if the annuitant is at least age 59-1/2; or o if you request a refund of a contribution in excess of amounts allowed to be contributed under the federal income tax rules within one month of the date on which you made the contribution. (iv) Under series 500 (Roth Advantage) contracts the withdrawal charge also does not apply: o after five contract years if the annuitant is at least age 59-1/2; or o if you withdraw an amount which is less than or equal to 25% of the account value at the time the withdrawal is requested, minus any amount previously withdrawn during that contract year, and you use the withdrawal to pay specified higher education expenses as defined in the federal income tax rules. We must receive evidence satisfactory to us that such withdrawal is in fact for such purpose; or o after five contract years if the withdrawal is a "qualified first-time homebuyer distribution" (special federal income tax definition; $10,000 lifetime total limit). We must receive evidence satisfactory to us that such withdrawal is in fact for such purpose; or o if you request a refund of a contribution in excess of amounts allowed to be contributed under federal income tax rules within one month of the date on which you made the contribution. CONTRACTS ISSUED IN NEW YORK -- FIXED MATURITY OPTIONS (FOR SERIES 300-500) For contracts issued in New York, the withdrawal charge that applies to withdrawals taken from amounts in the fixed maturity options will never exceed 6% and will be determined by applying the New York Declining Scale ("declining scale"). If you withdraw amounts that have been transferred from one fixed maturity option to another, we use the New York Alternative Scale ("alternative scale") if it produces a higher charge than the declining scale. - -------------------------------------------------------- Declining scale Alternative scale - -------------------------------------------------------- Year of investment Year of transfer within fixed in fixed maturity maturity option* option* - -------------------------------------------------------- Within year 1 6% Within year 1 5% - -------------------------------------------------------- 2 6% 2 4% - -------------------------------------------------------- 3 5% 3 3% - -------------------------------------------------------- 4 4% 4 2% - -------------------------------------------------------- 5 3% 5 1% - -------------------------------------------------------- 6 2% After year 5 0% - -------------------------------------------------------- After year 6 0% Not to exceed 1% times the number of years remaining in the fixed maturity option, rounded to the higher number of years. In other words, if 4.3 years remain, it would be a 5% charge. - -------------------------------------------------------- * Measured from the contract date anniversary prior to the date of the contribution or transfer. In the following example we compare the withdrawal charge that would apply to a withdrawal from a NQ or traditional IRA contract that has an account value of $10,000; $8,000 from a contribution made three years ago and $2,000 from positive investment performance. o If you were to withdraw the total amount of the contribution within the first six years after it was made, the withdrawal charge that generally applies would be $480 (6% of $8,000). However, if when you made your contribution you allocated it to a fixed maturity option, the withdrawal charge would be lower. According to the declining scale method described above, the withdrawal charge would be limited to 5% of the $8,000, or $400 in the third year. o The withdrawal charge may be different if when you made your contribution three years ago, you allocated it to a fixed maturity option and then in the third year, you transfer the amounts that apply to such contribution to a new fixed maturity option. In this example we assume that there is one year remaining in the new fixed maturity option. Because you made a transfer among the fixed maturity options, the alternative scale may now apply. Based on this alternative scale, a contribution that is transferred will be subject to a 5% withdrawal charge if you withdraw that contribution in the same year that you make the transfer. However, the withdrawal charge may not exceed 1% for each year remaining in the new fixed maturity option. Since, in this example, the time remaining in the new fixed maturity option is one year, the withdrawal charge under the alternative scale would be limited to 1%. Because New York regulations permit us to use the greater of the declining scale or the alternative scale, the withdrawal charge would be 5%, or $400, based on the declining scale. o The withdrawal charge may not exceed the charge that would normally apply under the contract. Use of a New York scale can only result in a lower charge. If your contribution has been in the contract for more than six years and therefore would not have a withdrawal charge associated with it, no withdrawal charge would apply. o If you take a withdrawal from an investment option other than the fixed maturity options, the amount available for withdrawal without a withdrawal charge is reduced. It will be reduced by the amount of the contribution in the fixed maturity options to which no withdrawal charge applies. o As of any date on which 50% or more of your account value is held in fixed maturity options, the free withdrawal amount is zero. For contracts issued in New York, you should consider that on the maturity date of a fixed maturity option if we have not received your instructions for allocation of your maturity value, we will transfer your maturity value to the fixed maturity option scheduled to mature next. If we are not offering other fixed maturity options, we will transfer your maturity value to the EQ/Money Market option. The potential for lower withdrawal charges for withdrawals from the fixed maturity options and the potential for a lower free withdrawal amount than those that would normally apply, should be taken into account when deciding whether to allocate amounts to, or transfer amounts to or from, the fixed maturity options. 50 Charges and expenses CHARGES FOR STATE PREMIUM AND OTHER APPLICABLE TAXES We deduct a charge designed to approximate certain taxes that may be imposed on us, such as premium taxes in your state. Generally, we deduct the charge from the amount applied to provide an annuity payout option. The current tax charge that might be imposed varies by jurisdiction and ranges from 0% to 3.5%. VARIABLE IMMEDIATE ANNUITY PAYOUT OPTION ADMINISTRATIVE FEE We deduct a fee of $350 from the amount to be applied to the Variable Immediate Annuity payout option. This option may not be available at the time you elect to begin receiving annuity payouts or it may have a different charge. CHARGES THAT THE TRUSTS DEDUCT The Trusts deduct charges for the following types of fees and expenses: o Management fees ranging from 0.10% to 1.40%. o 12b-1 fees of 0.25% for Class IB/B shares. o Operating expenses, such as trustees' fees, independent auditors' fees, legal counsel fees, administrative service fees, custodian fees, and liability insurance. o Investment-related expenses, such as brokerage commissions. These charges are reflected in the daily share price of each portfolio. Since shares of each Trust are purchased at their net asset value, these fees and expenses are, in effect, passed on to the variable investment options and are reflected in their unit values. Certain portfolios available under the contract in turn invest in shares of other portfolios of AXA Premier VIP Trust and EQ Advisors Trust (collectively, the "underlying portfolios"). The underlying portfolios each have their own fees and expenses, including management fees, operating expenses, and investment related expenses such as brokerage commissions. For more information about these charges, please refer to the prospectuses for the Trusts. GROUP OR SPONSORED ARRANGEMENTS For certain group or sponsored arrangements, we may reduce the withdrawal charge or the mortality and expense risks charge, or change the minimum initial contribution requirements. We also may change the minimum death benefit. Group arrangements include those in which a trustee or an employer, for example, purchases contracts covering a group of individuals on a group basis. Group arrangements are not available for traditional IRA, QP IRA and Roth IRA contracts. Sponsored arrangements include those in which an employer allows us to sell contracts to its employees or retirees on an individual basis. Our costs for sales, administration, and mortality generally vary with the size and stability of the group or sponsoring organization, among other factors. We take all these factors into account when reducing charges. To qualify for reduced charges, a group or sponsored arrangement must meet certain requirements, such as requirements for size and number of years in existence. Group or sponsored arrangements that have been set up solely to buy contracts or that have been in existence less than six months will not qualify for reduced charges. We also may establish different rates to maturity for the fixed maturity options under different classes of contracts for group or sponsored arrangements. We will make these and any similar reductions according to our rules in effect when we approve a contract for issue. We may change these rules from time to time. Any variation will reflect differences in costs or services and will not be unfairly discriminatory. Group or sponsored arrangements may be governed by federal income tax rules, the Employee Retirement Income Security Act of 1974, or both. We make no representations with regard to the impact of these and other applicable laws on such programs. We recommend that employers, trustees, and others purchasing or making contracts available for purchase under such programs seek the advice of their own legal and benefits advisers. OTHER DISTRIBUTION ARRANGEMENTS We may reduce or eliminate charges when sales are made in a manner that results in savings of sales and administrative expenses, such as sales through persons who are compensated by clients for recommending investments and who receive no commission or reduced commissions in connection with the sale of the contracts. We will not permit a reduction or elimination of charges where it will be unfairly discriminatory. Charges and expenses 51 6. Payment of death benefit - -------------------------------------------------------------------------------- YOUR BENEFICIARY AND PAYMENT OF BENEFIT You designate your beneficiary when you apply for your contract. You may change your beneficiary at any time. The change will be effective on the date the written request for the change is received in our processing office. We are not responsible for any beneficiary change request that we do not receive. We will send you a written confirmation when we receive your request. DEATH BENEFIT The death benefit is equal to the greater of (i) your account value (without adjustment for any otherwise applicable negative market value adjustment) as of the date we receive satisfactory proof of the annuitant's death, any required instructions for the method of payment, information and forms necessary to effect payment or (ii) the "minimum death benefit." The minimum death benefit is equal to your total contributions, adjusted for withdrawals, withdrawal charges, and taxes that apply. HOW WITHDRAWALS AFFECT THE MINIMUM DEATH BENEFIT Depending upon contract series, contract date and the state where your contract is issued, each withdrawal you make will reduce the amount of your current minimum death benefit on a pro rata basis. Reduction on a pro rata basis means that we calculate the percentage of your current account value that is being withdrawn and we reduce your current minimum death benefit by that same percentage. For example, if your account value is $30,000, and you withdraw $12,000 you have withdrawn 40% of your account value. If your minimum death benefit was $40,000 before the withdrawal, it would be reduced by $16,000 ($40,000 x .40) and your new minimum death benefit after the withdrawal would be $24,000 ($40,000-$16,000). Check with your financial professional. EFFECT OF THE ANNUITANT'S DEATH If the annuitant dies before the annuity payments begin, we will pay the death benefit to your beneficiary. Generally, the death of the annuitant terminates the contract. However, if you are both the owner and the annuitant and your spouse is the sole primary beneficiary, the contract can be continued as discussed below under "Successor owner and annuitant." Only a spouse who is the sole primary beneficiary can be a successor owner/ annuitant. The determination of spousal status is made under applicable state law; however, in the event of a conflict between federal and state law, we follow federal rules. A beneficiary may be able to have limited ownership as discussed under "Beneficiary continuation option" below. SUCCESSOR OWNER AND ANNUITANT: TRADITIONAL IRA, QP IRA, NQ AND ROTH IRA CONTRACTS (MAY NOT BE AVAILABLE IN ALL STATES FOR SOME SERIES). If you are the owner and annuitant and your spouse is the sole primary beneficiary, your spouse may elect upon your death, to continue the contract as the owner/annuitant and no death benefit is payable until the surviving spouse's death. If your surviving spouse decides to continue the contract, as of the date we receive satisfactory proof of death, any required instructions, information and forms necessary to effect the successor owner/annuitant feature, we will increase the account value to equal your minimum death benefit, if such death benefit is greater than such account value. The increase in the account value will be allocated to the investment options according to the allocation percentages we have on file for your contract. Thereafter, withdrawal charges will no longer apply to contributions made before your death. Withdrawal charges will apply if additional contributions are made. These additional contributions will be withdrawn only after all other amounts have been withdrawn. For series 100 and 200 IRA contracts, withdrawal charges will no longer apply and additional contributions may no longer be made. The minimum death benefit will continue to apply. WHEN AN NQ CONTRACT OWNER DIES BEFORE THE ANNUITANT Under certain conditions after the original owner's death, the owner changes for purposes of receiving federal tax law required distributions from your contract. When you are not the annuitant under an NQ contract and you die before annuity payments begin, unless you specify otherwise, we will automatically make the beneficiary your successor owner. If you do not want this beneficiary also to be the successor owner, you should name a specific successor owner. You may name a successor at any time by sending satisfactory notice to our processing office. Unless the surviving spouse of the owner who has died is the successor owner for this purpose, the entire interest in the contract must be distributed under the following rules: o The cash value of the contract must be fully paid to the successor owner (new owner) within five years after your death. o The successor owner may instead elect to receive the cash value as a life annuity (or payments for a period certain of not longer than the new owner's life expectancy). Payments must begin within one year after the non-annuitant owner's death. Unless this alternative is elected, we will pay any cash value five years after your death. If the surviving spouse is the successor owner, the spouse may elect to continue the contract. No distributions are required as long as the surviving spouse and annuitant are living. The account value must be distributed no later than 5 years after the spouse's death. HOW DEATH BENEFIT PAYMENT IS MADE We will pay the death benefit to the beneficiary in the form of the annuity payout option you have chosen. If you have not chosen an annuity payout option as of the time of the annuitant's death, the beneficiary will receive the death benefit in a single sum. However, subject to any exceptions in the contract, our rules and any applicable 52 Payment of death benefit requirements under federal income tax rules, the beneficiary may elect to apply the death benefit to one or more annuity payout options we offer at the time. See "Your annuity payout options" under "Accessing your money" earlier in this prospectus. Please note that any annuity payout option chosen may not extend beyond the life expectancy of the beneficiary. Single sum payments generally are paid through the AXA Equitable Access Account, an interest bearing account with check writing privileges. The AXA Equitable Access Account is part of AXA Equitable's general account. Beneficiaries have immediate access to the proceeds by writing a check on the account. We pay interest from the date the single sum is deposited into the Access Account until the account is closed. BENEFICIARY CONTINUATION OPTION FOR TRADITIONAL IRA, QP IRA, ROTH IRA AND ROTH ADVANTAGE CONTRACTS Upon your death under a traditional IRA, QP IRA, Roth IRA, or Roth Advantage contract, your beneficiary may generally elect to keep the contract in your name and receive distributions under the contract instead of receiving the death benefit in a single sum. The beneficiary continuation option may not be available in all states for some series. This feature must be elected by September 30th of the year following the calendar year of your death and before any other inconsistent election is made. Beneficiaries who do not make a timely election will not be eligible for this option. If the election is made, then as of the date we receive satisfactory proof of death, any required instructions, information and forms necessary to effect the beneficiary continuation option feature, we will increase the account value to equal the applicable death benefit if such death benefit is greater then such account value. Generally, payments will be made once a year to the beneficiary over the beneficiary's life expectancy (determined in the calendar year after your death, and determined on a term certain basis). These payments must begin no later than December 31st of the calendar year after the year of your death. For sole spousal beneficiaries, payments may begin by December 31st of the calendar year in which you would have reached age 70-1/2, if such time is later. For traditional IRA contracts only, if you die before your Required Beginning Date for required minimum distributions as discussed in "Tax information" later in this prospectus, the beneficiary may choose the "5-year rule" instead of annual payments over life expectancy. The 5-year rule is always available to beneficiaries under Roth IRA and Roth Advantage contracts. If the beneficiary chooses this option, the beneficiary may take withdrawals as desired, but the entire account value must be fully withdrawn by December 31st of the calendar year which contains the fifth anniversary of your death. Under the beneficiary continuation option: o The contract continues with your name on it for the benefit of your beneficiary. o This feature is only available if the beneficiary is an individual. Certain trusts with only individual beneficiaries will be treated as individuals for this purpose. o If there is more than one beneficiary, each beneficiary's share will be separately accounted for. It will be distributed over the beneficiary's own life expectancy, if payments over life expectancy are chosen. o The minimum amount that is required in order to elect the beneficiary continuation option is $5,000 for each beneficiary. o The beneficiary may make transfers among the investment options, but no additional contributions will be permitted. o The minimum death benefit provision will no longer be in effect. o The beneficiary may choose at any time to withdraw all or a portion of the account value and no withdrawal charges will apply. Any partial withdrawal must be at least $300. o Your beneficiary will have the right to name a beneficiary to receive any remaining interest in the contract. o Upon the death of the beneficiary, the beneficiary he or she has named has the option to either continue taking required minimum distributions based on the remaining life expectancy of the deceased beneficiary or to receive any remaining interest in the contract in a lump sum. The option elected will be processed when we receive satisfactory proof of death, any required instructions for the method of payment and any required information and forms necessary to effect payment. BENEFICIARY CONTINUATION OPTION FOR SERIES 400 NQ CONTRACTS ONLY This feature (also known as inherited annuity), may only be elected when the NQ contract owner dies before the date annuity payments are to begin, whether or not the owner and the annuitant are the same person. If the owner and annuitant are different and the owner dies before the annuitant, for purposes of this discussion, "beneficiary" refers to the successor owner. For a discussion of successor owner, see "When an NQ contract owner dies before the annuitant" earlier in this section. This feature must be elected within 9 months following the date of your death and before any other inconsistent election is made. Beneficiaries who do not make a timely election will not be eligible for this option. Generally, payments will be made once a year to the beneficiary over the beneficiary's life expectancy, determined on a term certain basis and in the year payments start. These payments must begin no later than one year after the date of your death and are referred to as "scheduled payments." The beneficiary may choose the "5-year rule" instead of scheduled payments over life expectancy. If the beneficiary chooses the 5-year rule, there will be no scheduled payments. Under the 5-year rule, the beneficiary may take withdrawals as desired, but the entire account value must be fully withdrawn by the fifth anniversary of your death. Under the beneficiary continuation option for NQ contracts (regardless of whether the owner and annuitant are the same person): o This feature is only available if the beneficiary is an individual. It is not available for any entity such as a trust, even if all of the beneficiaries of the trust are individuals. Payment of death benefit 53 o The contract continues with your name on it for the benefit of your beneficiary. o If there is more than one beneficiary, each beneficiary's share will be separately accounted for. It will be distributed over the respective beneficiary's own life expectancy, if scheduled payments are chosen. o The minimum amount that is required in order to elect the beneficiary continuation option is $5,000 for each beneficiary. o The beneficiary may make transfers among the investment options but no additional contributions will be permitted. o The minimum death benefit will no longer be in effect. o If the beneficiary chooses the "5-year rule," withdrawals may be made at any time. If the beneficiary chooses scheduled payments, the beneficiary must also choose between two potential withdrawal options at the time of election. "Withdrawal Option 1" permits total surrender only. "Withdrawal Option 2" permits the beneficiary to take withdrawals, in addition to scheduled payments, at any time. See "Taxation of nonqualified annuities" in "Tax information" later in this prospectus. o Any partial withdrawal must be at least $300. o Your beneficiary will have the right to name a beneficiary to receive any remaining interest in the contract on the beneficiary's death. o Upon the death of your beneficiary, the beneficiary that he or she has named has the option to either continue taking scheduled payments based on the remaining life expectancy of the deceased beneficiary (if scheduled payments were chosen) or to receive any remaining interest in the contract in a lump sum. We will pay any remaining interest in the contract in a lump sum if your beneficiary elects the 5-year rule. The option elected will be processed when we receive satisfactory proof of death, any required instructions for the method of payment and any required information and forms necessary to effect payment. If you are both the owner and annuitant: o As of the date we receive satisfactory proof of death, any required instructions, information and forms necessary to effect the beneficiary continuation option feature, we will increase the account value to equal the applicable death benefit if such death benefit is greater than such account value. The increase in account value will be allocated to the investment options according to the allocation percentages we have on file for your contract. o No withdrawal charges will apply to any withdrawals by the beneficiary. If the owner and annuitant are not the same person: o If the beneficiary continuation option is elected, the beneficiary automatically becomes the new annuitant of the contract, replacing the existing annuitant. o The account value will not be reset to the death benefit amount. o The withdrawal charge schedule and free withdrawal amount on the contract will continue to be applied to any withdrawal or surrender other than scheduled payments. o We do not impose a withdrawal charge on scheduled payments except if, when added to any withdrawals previously taken in the same contract year, including for this purpose a contract surrender, the total amount of withdrawals and scheduled payments exceeds the free withdrawal amount. See "Withdrawal charge" in "Charges and expenses" earlier in this prospectus. If a contract is jointly owned: o The surviving owner supersedes any other named beneficiary and may elect the beneficiary continuation option. o If the deceased joint owner was also the annuitant, see "If you are both the owner and annuitant" above. o If the deceased joint owner was not the annuitant, see "If the owner and annuitant are not the same person" above. 54 Payment of death benefit 7. Tax information - -------------------------------------------------------------------------------- OVERVIEW In this part of the prospectus, we discuss the current federal income tax rules that generally apply to EQUI-VEST(SM) contracts owned by United States individual taxpayers. The tax rules can differ, depending on the type of contract, whether NQ, traditional IRA, QP IRA, Roth IRA or Roth Advantage. Therefore, we discuss the tax aspects of each type of contract separately. Federal income tax rules include the United States laws in the Internal Revenue Code, and Treasury Department Regulations and Internal Revenue Service ("IRS") interpretations of the Internal Revenue Code. These tax rules may change without notice. We cannot predict whether, when, or how these rules could change. Any change could affect contracts purchased before the change. Congress may also consider proposals in the future to comprehensively reform or overhaul the United States tax and retirement systems, which if enacted, could affect the tax benefits of a contract. We cannot predict what, if any, legislation will actually be proposed or enacted. We cannot provide detailed information on all tax aspects of the contracts. Moreover, the tax aspects that apply to a particular person's contract may vary depending on the facts applicable to that person. We do not discuss state income and other state taxes, federal income tax and withholding rules for non-U.S. taxpayers, or federal gift and estate taxes. Transfers of the contract, rights or values under the contract, or payments under the contract, for example, amounts due to beneficiaries, may be subject to federal or state gift, estate or inheritance taxes. You should not rely only on this document, but should consult your tax adviser before your purchase. BUYING A CONTRACT TO FUND A RETIREMENT ARRANGEMENT Generally, there are two types of funding vehicles that are available for Individual Retirement Arrangements ("IRAs"): an individual retirement annuity contract such as the ones offered in this Prospectus, or a custodial or trusteed individual retirement account. How these arrangements work, including special rules applicable to each, are described in the specific sections for each type of arrangement, below. You should be aware that the funding vehicle for a tax-qualified arrangement does not provide any tax deferral benefit beyond that already provided by the Code for all permissible funding vehicles. Before choosing an annuity contract, therefore, you should consider the annuity's features and benefits, such as the EQUI-VEST(SM) guaranteed minimum death benefit, selection of variable investment options, provision of a guaranteed interest option and choices of payout options, as well as the features and benefits of other permissible funding vehicles and the relative costs of annuities and other such arrangements. You should be aware that cost may vary depending on the features and benefits made available and the charges and expenses of the portfolios. Certain provisions of the Treasury Regulations on required minimum distributions concerning the actuarial present value of additional contract benefits could increase the amount required to be distributed from individual retirement annuity contracts. For this purpose additional annuity contract benefits may include enhanced death benefits. You should consider the potential implication of these Regulations before you purchase this annuity contract. TRANSFERS AMONG INVESTMENT OPTIONS You can make transfers among investment options inside the contract without triggering taxable income. TAXATION OF NONQUALIFIED ANNUITIES CONTRIBUTIONS You may not deduct the amount of your contributions to a nonqualified annuity contract. CONTRACT EARNINGS Generally, you are not taxed on contract earnings until you receive a distribution from your contract, whether as a withdrawal or as an annuity payment. However, earnings are taxable, even without a distribution: o if a contract fails investment diversification requirements as specified in federal income tax rules (these rules are based on or are similar to those specified for mutual funds under securities laws); o if you transfer a contract, for example, as a gift to someone other than your spouse (or former spouse); o if you use a contract as security for a loan (in this case, the amount pledged will be treated as a distribution); and o if the owner is other than an individual (such as a corporation, partnership, trust, or other non-natural person). This provision does not apply to a trust which is a mere agent or nominee for an individual, such as a grantor trust. All nonqualified deferred annuity contracts that AXA Equitable and its affiliates issue to you during the same calendar year are linked together and treated as one contract for calculating the taxable amount of any distribution from any of those contracts. ANNUITY PAYMENTS Once annuity payments begin, a portion of each payment is taxable as ordinary income. You get back the remaining portion without paying taxes on it. This is your "investment in the contract." Generally, your investment in the contract equals the contributions you made, less any amounts you previously withdrew that were not taxable. For fixed annuity payments, the tax-free portion of each payment is determined by (1) dividing your investment in the contract by the total Tax information 55 amount you are expected to receive out of the contract, and (2) multiplying the result by the amount of the payment. For variable annuity payments, your tax-free portion of each payment is your investment in the contract divided by the number of expected payments. Once you have received the amount of your investment in the contract, all payments after that are fully taxable. If payments under a life annuity stop because the annuitant dies, there is an income tax deduction for any unrecovered investment in the contract. In order to get annuity payment tax treatment described here, all amounts under the contract must be applied to the annuity payout option; we do not "partially annuitize" nonqualified deferred annuity contracts. WITHDRAWALS MADE BEFORE ANNUITY PAYMENTS BEGIN If you make withdrawals before annuity payments begin under your contract, they are taxable to you as ordinary income if there are earnings in the contract. Generally, earnings are your account value less your investment in the contract. If you withdraw an amount which is more than the earnings in the contract as of the date of the withdrawal, the balance of the distribution is treated as a return of your investment in the contract and is not taxable. CONTRACTS PURCHASED THROUGH EXCHANGES You may purchase your NQ contract through an exchange of another contract. Normally, exchanges of contracts are taxable events. The exchange will not be taxable under Section 1035 of the Internal Revenue Code if: o the contract that is the source of the funds you are using to purchase the NQ contract is another nonqualified deferred annuity contract (or life insurance or endowment contract). o the owner and the annuitant are the same under the source contract and the EQUI-VEST(SM) NQ contract. If you are using a life insurance or endowment contract the owner and the insured must be the same on both sides of the exchange transaction. The tax basis, also referred to as your investment in the contract, of the source contract carries over to the EQUI-VEST(SM) NQ contract. An owner may direct the proceeds of a partial withdrawal from one nonqualified deferred annuity contract to a different insurer to purchase a new nonqualified deferred annuity contract on a tax-free basis. Special forms, agreements between carriers, and provision of cost basis information may be required to process this type of an exchange. Section 1035 exchanges are generally not available after the death of the owner. SURRENDERS If you surrender or cancel the contract, the distribution is taxable as ordinary income (not capital gain) to the extent it exceeds your investment in the contract. DEATH BENEFIT PAYMENTS MADE TO A BENEFICIARY AFTER YOUR DEATH For the rules applicable to death benefits, see "Payment of death benefit" earlier in this prospectus. The tax treatment of a death benefit taken as a single sum is generally the same as the tax treatment of a withdrawal from or surrender of your contract. The tax treatment of a death benefit taken as annuity payments is generally the same as the tax treatment of annuity payments under your contract. BENEFICIARY CONTINUATION OPTION We have received a private letter ruling from the IRS regarding certain tax consequences of scheduled payments under the beneficiary continuation option for NQ contracts. See the discussion of the beneficiary continuation option for NQ contracts earlier in this prospectus. Among other things, the IRS rules that: o scheduled payments under the beneficiary continuation option for NQ contracts satisfy the death of owner rules of Section 72(s)(2) of the Code, regardless of whether the beneficiary elects Withdrawal Option 1 or Withdrawal Option 2; o scheduled payments, any additional withdrawals under Withdrawal Option 2, or contract surrenders under Withdrawal Option 1 will only be taxable to the beneficiary when amounts are actually paid, regardless of the Withdrawal Option selected by the beneficiary; o a beneficiary who irrevocably elects scheduled payments with Withdrawal Option 1 will receive "excludable amount" tax treatment on scheduled payments. See "Annuity payments" earlier in this section. If the beneficiary elects to surrender the contract before all scheduled payments are paid, the amount received upon surrender is a non-annuity payment taxable to the extent it exceeds any remaining investment in the contract. The ruling specifically does not address the taxation of any payments received by a beneficiary electing Withdrawal Option 2 (whether scheduled payments or any withdrawal that might be taken). The tax treatment of a withdrawal after the death of the owner taken as a single sum or taken as withdrawals under the 5-year rule is generally the same as the tax treatment of a withdrawal from or surrender of your contract. EARLY DISTRIBUTION PENALTY TAX If you take distributions before you are age 59-1/2 a penalty tax of 10% of the taxable portion of your distribution applies in addition to the income tax. Some of the available exceptions to the pre-age 59-1/2 penalty tax include distributions made: o on or after your death; or o because you are disabled (special federal income tax definition); or o in the form of substantially equal periodic annuity payments for your life (or life expectancy) or the joint lives (or joint life expectancy) of you and a beneficiary, in accordance with IRS formulas. INVESTOR CONTROL ISSUES Under certain circumstances, the IRS has stated that you could be treated as the owner (for tax purposes) of the assets of Separate Account A. If you were treated as the owner, you would be taxed on income and gains attributable to the shares of the underlying portfolios. 56 Tax information The circumstances that would lead to this tax treatment would be that, in the opinion of the IRS, you could control the underlying investment of Separate Account A. The IRS has said that the owners of variable annuities will not be treated as owning the separate account assets provided the underlying portfolios are restricted to variable life and annuity assets. The variable annuity owners must have the right only to choose among the portfolios, and must have no right to direct the particular investment decisions within the portfolios. Although we believe that, under current IRS guidance, you would not be treated as the owner of the assets of Separate Account A, there are some issues that remain unclear. For example, the IRS has not issued any guidance as to whether having a larger number of portfolios available, or an unlimited right to transfer among them, could cause you to be treated as the owner. We do not know whether the IRS will ever provide such guidance or whether such guidance, if unfavorable, would apply retroactively to your contract. Furthermore, the IRS could reverse its current guidance at any time. We reserve the right to modify your contract as necessary to prevent you from being treated as the owner of the assets of Separate Account A. INDIVIDUAL RETIREMENT ARRANGEMENTS ("IRAS") GENERAL "IRA" stands for individual retirement arrangement. There are two basic types of such arrangements, individual retirement accounts and individual retirement annuities. In an individual retirement account, a trustee or custodian holds the assets funding the account for the benefit of the IRA owner. The assets typically include mutual funds and/or individual stocks and securities in a custodial account, and certificates of deposit in a trusteed account. In an individual retirement annuity, an insurance company issues an annuity contract that serves as the IRA. There are two basic types of IRAs, as follows: o "traditional IRAs," typically funded on a pre-tax basis, including SEP-IRAs and SIMPLE IRAs issued and funded in connection with employer-sponsored retirement plans; and o Roth IRAs, funded on an after-tax basis. Regardless of the type of IRA, your ownership interest in the IRA cannot be forfeited. You or your beneficiaries who survive you are the only ones who can receive the IRA's benefits or payments. All types of IRAs qualify for tax deferral, regardless of the funding vehicle selected. You can hold your IRA assets in as many different accounts and annuities as you would like, as long as you meet the rules for setting up and making contributions to IRAs. However, if you own multiple IRAs, you may be required to combine IRA values or contributions for tax purposes. For further information about individual retirement arrangements, you can read Internal Revenue Service Publication 590 ("Individual Retirement Arrangements (IRAs)"). This publication is usually updated annually, and can be obtained from any IRS district office or the IRS website (www.irs.gov). AXA Equitable designs its IRA contracts to qualify as "individual retirement annuities" under Section 408(b) of the Internal Revenue Code. We offer the EQUI-VEST(SM) contract in both traditional IRA and Roth IRA versions. This prospectus contains the information that the IRS requires you to have before you purchase an IRA. The first section covers some of the special tax rules that apply to traditional IRAs. The next section covers Roth IRAs. The disclosure generally assumes direct ownership of the individual retirement annuity contract. We describe the amount and types of charges that may apply to your contributions under "Charges and expenses" earlier in this prospectus. We describe the method of calculating payments under "Accessing your money" earlier in this prospectus. We do not guarantee or project growth in a variable income annuitization option payments (as opposed to payments from a fixed income annuitization option). We have received an opinion letter from the IRS approving the respective forms of the series 400 EQUI-VEST(SM) traditional and Roth IRA contracts for use as traditional and Roth IRA, respectively. We may no longer rely on the opinion letter for the Roth IRA. We have not submitted to the IRS requests for opinion letters to approve any other forms of series 100 - 500 EQUI-VEST(SM) traditional IRA and Roth IRA for use as a traditional or Roth IRA, respectively. This IRS approval is a determination only as to the form of the annuity. It does not represent a determination of the merits of the annuity as an investment. The contracts submitted for IRS approval do not include every feature possibly available under the EQUI-VEST(SM) traditional and Roth IRA contracts. YOUR RIGHT TO CANCEL WITHIN A CERTAIN NUMBER OF DAYS You can cancel any version of the EQUI-VEST(SM) IRA contract (traditional IRA or Roth IRA) by following the directions under "Your right to cancel within a certain number of days" in "Contract features and benefits" earlier in this prospectus. You can cancel an EQUI-VEST(SM) Roth IRA contract issued as a result of a full or partial conversion of an EQUI-VEST(SM) traditional IRA contract by following the instructions in the "EQUI-VEST(SM) Roth IRA Re-Characterization Form." The form is available from our processing office or your financial professional. If you cancel a traditional IRA or Roth IRA contract, we may have to withhold tax, and we must report the transaction to the IRS. A contract cancellation could have an unfavorable tax impact. TRADITIONAL INDIVIDUAL RETIREMENT ANNUITIES (TRADITIONAL IRAS) CONTRIBUTIONS TO TRADITIONAL IRAS. Generally, individuals may make three different types of contributions to purchase a traditional IRA or as additional contributions to an existing IRA: o "regular" contributions out of earned income or compensation; or o tax-free "rollover" contributions; or o direct custodian-to-custodian transfers from other traditional IRAs ("direct transfers"). REGULAR CONTRIBUTIONS TO TRADITIONAL IRAS LIMITS ON CONTRIBUTIONS. The "maximum regular contribution amount" for any taxable year is the most that can be contributed to all of your IRAs (traditional and Roth) as regular contributions for the particular taxable year. The maximum regular contribution amount depends on age, earnings, and year, among other things. Generally, $5,000 is the maximum amount that you may contribute to all IRAs Tax information 57 (including Roth IRAs). When your earnings are below $5,000, your earned income or compensation for the year is the most you can contribute. This limit does not apply to rollover contributions or direct custodian-to-custodian transfers into a traditional IRA. You cannot make regular traditional IRA contributions for the taxable year in which you reach age 70-1/2 or any taxable year after that. If you are at least age 50 at any time during the taxable year for which you are making a regular contribution to your IRA, you may be eligible to make additional "catch up contributions" of up to $1,000 to your traditional IRA. SPECIAL RULES FOR SPOUSES. If you are married and file a joint income tax return, you and your spouse may combine your compensation to determine the amount of regular contributions you are permitted to make to traditional IRAs (and Roth IRAs discussed below). Even if one spouse has no compensation, or compensation under $5,000, married individuals filing jointly can contribute up to $10,000 per year to any combination of traditional IRAs and Roth IRAs. For 2008, the amount is $10,000. Any contributions to Roth IRAs reduce the ability to contribute to traditional IRAs and vice versa. The maximum amount may be less if earned income is less and the other spouse has made IRA contributions. No more than a combined total of $5,000 can be contributed annually to either spouse's traditional and Roth IRAs. Each spouse owns his or her traditional IRAs and Roth IRAs even if the other spouse funded the contributions. A working spouse age 70-1/2 or over can contribute up to the lesser of $5,000 or 100% of "earned income" to a traditional IRA for a nonworking spouse until the year in which the nonworking spouse reaches age 70-1/2. Catch-up contributions may be made as described above for spouses who are at least age 50 but under age 70-1/2 at any time during the taxable year for which the contribution is being made. DEDUCTIBILITY OF CONTRIBUTIONS. The amount of traditional IRA contributions that you can deduct for a taxable year depends on whether you are covered by an employer-sponsored-tax-favored retirement plan, as defined under special federal income tax rules. Your Form W-2 will indicate whether or not you are covered by such a retirement plan. If you are not covered by a retirement plan during any part of the year, you can make fully deductible contributions to your traditional IRAs for the taxable year up to the maximum amount discussed above under "Limits on contributions." That is, your fully deductible contribution can be up to $5,000, or if less, your earned income. The dollar limit is $6,000 for people eligible to make age 50-70-1/2 catch-up contributions. If you are covered by a retirement plan during any part of the year, and your adjusted gross income (AGI) is below the lower dollar figure in a phase-out range, you can make fully deductible contributions to your traditional IRAs. If you are covered by a retirement plan during any part of the year, and your AGI falls within a phase-out range, you can make partially deductible contributions to your traditional IRAs. If you are covered by a retirement plan during any part of the year, and your AGI falls above the higher figure in the phase-out range, you may not deduct any of your regular contributions to your traditional IRAs. Cost of living indexing adjustments apply to the income limits on deductible contributions. If you are single and covered by a retirement plan during any part of the taxable year, the deduction for traditional IRA contributions phases out with AGI between $50,000 and $60,000 (for 2008, AGI between $53,000 and $63,000, after adjustment). If you are married and file a joint return, and you are covered by a retirement plan during any part of the taxable year, the deduction for traditional IRA contributions phases out with AGI between $80,000 and $100,000 (for 2008, AGI between $85,000 and $105,000, after adjustment). Married individuals filing separately and living apart at all times are not considered married for purposes of this deductible contribution calculation. Generally, the active participation in an employer-sponsored retirement plan of an individual is determined independently for each spouse. Where spouses have "married filing jointly" status, however, the maximum deductible traditional IRA contribution for an individual who is not an active participant (but whose spouse is an active participant) is phased out for taxpayers with AGI of between $150,000 and $160,000 (for 2008, AGI between $159,000 and $169,000, after adjustment). To determine the deductible amount of the contribution for 2008, for example, you determine AGI and subtract $53,000 if you are single, or $85,000 if you are married and file a joint return with your spouse. The resulting amount is your excess AGI. You then determine the limit on the deduction for traditional IRA contributions using the following formula: ($10,000-excess AGI) times the maximum equals the adjusted -------------------- x regular = deductible divided by $10,000 contribution amount contribution for the year limit discussed above ADDITIONAL "SAVER'S CREDIT" FOR CONTRIBUTIONS TO A TRADITIONAL IRA OR ROTH IRA You may be eligible for a nonrefundable income tax credit for contributions you make to a traditional IRA or Roth IRA. If you qualify, you may take this credit even though your traditional IRA contribution is already fully or partially deductible. To take advantage of this "saver's credit" you must be age 18 or over before the end of the taxable year for which the contribution is made, you cannot be a full-time student or claimed as a dependent on another's tax return, and your adjusted gross income cannot exceed $50,000 ($53,000 after cost of living adjustments for 2008). The amount of the tax credit you can get varies from 10% of your contribution to 50% of your contribution, and depends on your income tax filing status and your adjusted gross income. The maximum annual contribution eligible for the saver's credit is $2,000. If you and your spouse file a joint return, and each of you qualifies, each is eligible for a maximum annual contribution of $2,000. Your saver's credit may also be reduced if you take or have taken a taxable distribution from any plan eligible for a saver's credit contribution -- even if you make a contribution to one plan and take the distribution from another plan -- during the "testing period." The "testing period" begins two years before the year for which you make the contribution and ends when your tax return is due for the year for 58 Tax information which you make the contribution including extensions. Saver's-credit-eligible contributions may be made to a 401(k) plan, 403(b) plan, governmental employer 457(b) plan, SIMPLE IRA, or SARSEP IRA, as well as a traditional IRA or Roth IRA. NONDEDUCTIBLE REGULAR CONTRIBUTIONS. If you are not eligible to deduct part or all of the traditional IRA contribution, you may still make nondeductible contributions on which earnings will accumulate on a tax-deferred basis. The combined deductible and nondeductible contributions to your traditional IRA (or the nonworking spouse's traditional IRA) may not, however, exceed the $5,000 maximum per person limit for the applicable taxable year. The dollar limit is $6,000 for people eligible to make age 50-70-1/2 catch-up contributions. See "Excess contributions" below. You must keep your own records of deductible and nondeductible contributions in order to prevent double taxation on the distribution of previously taxed amounts. See "Withdrawals, payments and transfers of funds out of traditional IRAs" below. If you are making nondeductible contributions in any taxable year, or you have made nondeductible contributions to a traditional IRA in prior years and are receiving distributions from any traditional IRA, you must file the required information with the IRS. Moreover, if you are making nondeductible traditional IRA contributions, you must retain all income tax returns and records pertaining to such contributions until interests in all traditional IRAs are fully distributed. WHEN YOU CAN MAKE REGULAR CONTRIBUTIONS. If you file your tax returns on a calendar year basis like most taxpayers, you have until the April 15 return filing deadline (without extensions) of the following calendar year to make your regular traditional IRA contributions for a tax year. ROLLOVER AND TRANSFER CONTRIBUTIONS TO TRADITIONAL IRAS Rollover contributions may be made to a traditional IRA from these "eligible retirement plans": o qualified plans; o governmental employer 457(b) plans, also referred to as "governmental employer EDC plans"; o 403(b) plans; and o other traditional IRAs. Direct transfer contributions may only be made directly from one traditional IRA to another. Any amount contributed to a traditional IRA after you reach age 70-1/2 must be net of your required minimum distribution for the year in which the rollover or direct transfer contribution is made. ROLLOVERS FROM "ELIGIBLE RETIREMENT PLANS" OTHER THAN TRADITIONAL IRAS Your plan administrator will tell you whether or not your distribution is eligible to be rolled over. Spousal beneficiaries and spousal alternate payees under qualified domestic relations orders may roll over funds on the same basis as the plan participant. A non-spousal death beneficiary may also be able to make a direct rollover to an inherited traditional IRA under certain circumstances. There are two ways to do rollovers: o Do it yourself: You actually receive a distribution that can be rolled over and you roll it over to a traditional IRA within 60 days after the date you receive the funds. The distribution from your eligible retirement plan will be net of 20% mandatory federal income tax withholding. If you want, you can replace the withheld funds yourself and roll over the full amount. o Direct rollover: You tell the trustee or custodian of the eligible retirement plan to send the distribution directly to your traditional IRA issuer. Direct rollovers are not subject to mandatory federal income tax withholding. All distributions from a qualified plan, 403(b) plan or governmental employer 457(b) plan are eligible rollover distributions, unless the distribution is: o "a required minimum distribution" after age 70-1/2 or retirement; or o one of a series of substantially equal periodic payments made at least annually for your life (or life expectancy) or the joint lives (or joint life expectancies) of you and your designated beneficiary; or o one of a series of substantially equal periodic payments made for a specified period of 10 years or more; or o a hardship withdrawal; or o a corrective distribution that fits specified technical tax rules; or o a loan that is treated as a distribution; or o a death benefit payment to a beneficiary who is not your surviving spouse; or o a qualified domestic relations order distribution to a beneficiary who is not your current or former spouse. You should discuss with your tax adviser whether you should consider rolling over funds from one type of tax qualified retirement plan to another, because the funds will generally be subject to the rules of the recipient plan. For example, funds in a governmental employer 457(b) plan are not subject to the additional 10% federal income tax penalty for premature distributions, but they may become subject to this penalty if you roll the funds to a different type of eligible retirement plan, such as a traditional IRA, and subsequently take a premature distribution. ROLLOVERS OF AFTER-TAX CONTRIBUTIONS FROM ELIGIBLE RETIREMENT PLANS OTHER THAN TRADITIONAL IRAS Any non-Roth after-tax contributions you have made to a qualified plan or 403(b) plan (but not a governmental employer 457(b) plan) may be rolled over to a traditional IRA (either in a direct rollover or a rollover you do yourself). When the recipient plan is a traditional IRA, you are responsible for recordkeeping and calculating the taxable Tax information 59 amount of any distributions you take from that traditional IRA. See "Taxation of Payments" later in this prospectus under "Withdrawals, payments and transfers of funds out of traditional IRAs." After-tax contributions in a traditional IRA cannot be rolled over from your traditional IRA into, or back into, a qualified plan, 403(b) plan or governmental employer 457(b) plan. ROLLOVERS FROM TRADITIONAL IRAS TO TRADITIONAL IRAS You may roll over amounts from one traditional IRA to one or more of your other traditional IRAs if you complete the transaction within 60 days after you receive the funds. You may make such a rollover only once in every 12-month period for the same funds. Trustee-to-trustee or custodian-to-custodian direct transfers are not rollover transactions. You can make these more frequently than once in every 12-month period. SPOUSAL ROLLOVERS AND DIVORCE-RELATED DIRECT TRANSFERS The surviving spousal beneficiary of a deceased individual can roll over funds from, or directly transfer funds from, an inherited traditional IRA to one or more other traditional IRAs. A non-spousal death beneficiary may also be able to make a direct rollover to an inherited traditional IRA under certain circumstances. Also, in some cases, traditional IRAs can be transferred on a tax-free basis between spouses or former spouses as a result of a court ordered divorce or separation decree. EXCESS CONTRIBUTIONS Excess contributions to IRAs are subject to a 6% excise tax for the year in which made and for each year after until withdrawn. The following are excess contributions to IRAs: o regular contributions of more than the maximum regular contribution amount for the applicable taxable year; or o regular contributions to a traditional IRA made after you reach age 70-1/2; or o rollover contributions of amounts which are not eligible to be rolled over, for example, minimum distributions required to be made after age 70-1/2. You can avoid the excise tax by withdrawing an excess contribution (rollover or regular) before the due date (including extensions) for filing your federal income tax return for the year. If it is an excess regular traditional IRA contribution, you cannot take a tax deduction for the amount withdrawn. You do not have to include the excess contribution withdrawn as part of your income. It is also not subject to the 10% additional penalty tax on early distributions, discussed below under "Early distribution penalty tax." You do have to withdraw any earnings that are attributed to the excess contribution. The withdrawn earnings would be included in your gross income and could be subject to the 10% penalty tax. Even after the due date for filing your return, you may withdraw an excess rollover contribution, without income inclusion or 10% penalty, if: (1) the rollover was from an eligible retirement plan to a traditional IRA; (2) the excess contribution was due to incorrect information that the plan provided; and (3) you took no tax deduction for the excess contribution. RECHARACTERIZATIONS Amounts that have been contributed as traditional IRA funds may subsequently be treated as Roth IRA funds. Special federal income tax rules allow you to change your mind again and have amounts that are subsequently treated as Roth IRA funds, once again treated as traditional IRA funds. You do this by using the forms we prescribe. This is referred to as having "recharacterized" your contribution. WITHDRAWALS, PAYMENTS AND TRANSFERS OF FUNDS OUT OF TRADITIONAL IRAS NO FEDERAL INCOME TAX LAW RESTRICTIONS ON WITHDRAWALS. You can withdraw any or all of your funds from a traditional IRA at any time. You do not need to wait for a special event like retirement. TAXATION OF PAYMENTS. Earnings in traditional IRAs are not subject to federal income tax until you or your beneficiary receive them. Taxable payments or distributions include withdrawals from your contract, surrender of your contract, and annuity payments from your contract. Death benefits are also taxable. Except as discussed below, the total amount of any distribution from a traditional IRA must be included in your gross income as ordinary income. We report all payments from traditional IRA contracts on IRS Form 1099-R as fully taxable. If you have ever made nondeductible IRA contributions to any traditional IRA (it does not have to be to this particular traditional IRA contract), those contributions are recovered tax free when you get distributions from any traditional IRA. It is your responsibility to keep permanent tax records of all of your nondeductible contributions to traditional IRAs so that you can correctly report the taxable amount of any distribution on your own tax return. At the end of any year in which you have received a distribution from any traditional IRA, you calculate the ratio of your total nondeductible traditional IRA contributions (less any amounts previously withdrawn tax free) to the total account balances of all traditional IRAs you own at the end of the year plus all traditional IRA distributions made during the year. Multiply this by all distributions from the traditional IRA during the year to determine the nontaxable portion of each distribution. A distribution from a traditional IRA is not taxable if: o the amount received is a withdrawal of excess contributions, as described under "Excess contributions" above; or o the entire amount received is rolled over to another traditional IRA or other eligible retirement plan which agrees to accept the funds. (See "Rollovers from eligible retirement plans other than traditional IRAs" under "Rollover and transfer contributions to traditional IRAs" above.) The following are eligible to receive rollovers of distributions from a traditional IRA: a qualified plan, a 403(b) plan or a governmental employer EDC plan. After-tax contributions in a traditional IRA cannot be rolled from your traditional IRA into, or back into, a qualified plan, 60 Tax information 403(b) plan or governmental employer EDC plan. Before you decide to roll over a distribution from a traditional IRA to another eligible retirement plan, you should check with the administrator of that plan about whether the plan accepts rollovers and, if so, the types its accepts. You should also check with the administrator of the receiving plan about any documents required to be completed before it will accept a rollover. Distributions from a traditional IRA are not eligible for favorable ten-year averaging and long-term capital gain treatment available under limited circumstances for certain distributions from qualified plans. If you might be eligible for such tax treatment from your qualified plan, you may be able to preserve such tax treatment even though an eligible rollover from a qualified plan is temporarily rolled into a "conduit IRA" before being rolled back into a qualified plan. See your tax adviser. The EQUI-VEST(SM) QP IRA is used as a conduit IRA if amounts are not commingled. REQUIRED MINIMUM DISTRIBUTIONS BACKGROUND ON REGULATIONS -- REQUIRED MINIMUM DISTRIBUTIONS. Distributions must be made from traditional IRAs according to rules contained in the Code and Treasury Regulations. Certain provisions of the Treasury Regulations require that the actuarial present value of additional annuity contract benefits must be added to the dollar amount credited for purposes of calculating certain types of required minimum distributions from individual retirement annuity contracts. For this purpose additional annuity contract benefits may include, but are not limited to, enhanced death benefits. This could increase the amount required to be distributed from these contracts if you take annual withdrawals instead of receiving annuity payments. LIFETIME REQUIRED MINIMUM DISTRIBUTIONS. You must start taking annual distributions from your traditional IRAs for the year in which you turn age 70-1/2. WHEN YOU HAVE TO TAKE THE FIRST LIFETIME REQUIRED MINIMUM DISTRIBUTION. The first required minimum distribution is for the calendar year in which you turn age 70-1/2. You have the choice to take this first required minimum distribution during the calendar year you actually reach age 70-1/2, or to delay taking it until the first three-month period in the next calendar year (January 1-April 1). Distributions must start no later than your "Required Beginning Date," which is April 1st of the calendar year after the calendar year in which you turn age 70-1/2. If you choose to delay taking the first annual minimum distribution, then you will have to take two minimum distributions in that year -- the delayed one for the first year and the one actually for that year. Once minimum distributions begin, they must be made at some time each year. HOW YOU CAN CALCULATE REQUIRED MINIMUM DISTRIBUTIONS. There are two approaches to taking required minimum distributions -- "account-based" or "annuity-based." ACCOUNT-BASED METHOD. If you choose an account-based method, you divide the value of your traditional IRA as of December 31st of the past calendar year by a number corresponding to your age from an IRS table. This gives you the required minimum distribution amount for that particular IRA for that year. If your spouse is your sole beneficiary and more than 10 years younger than you, the dividing number you use may be from another IRS table and may produce a smaller lifetime required minimum distribution amount. Regardless of the table used, the required minimum distribution amount will vary each year as the account value, the actuarial present value of additional annuity contract benefits, if applicable, and the divisor change. If you initially choose an account-based method, you may later apply your traditional IRA funds to a life annuity-based payout with any certain period not exceeding remaining life expectancy, determined in accordance with IRS tables. ANNUITY-BASED METHOD. If you choose an annuity-based method, you do not have to do annual calculations. You apply the account value to an annuity payout for your life or the joint lives of you and a designated beneficiary, or for a period certain not extending beyond applicable life expectancies, determined in accordance with IRS tables. DO YOU HAVE TO PICK THE SAME METHOD TO CALCULATE YOUR REQUIRED MINIMUM DISTRIBUTIONS FOR ALL OF YOUR TRADITIONAL IRAS AND OTHER RETIREMENT PLANS? No. If you want, you can choose a different method for each of your traditional IRAs and other retirement plans. For example, you can choose an annuity payout from one IRA, a different annuity payout from a qualified plan, and an account-based annual withdrawal from another IRA. WILL WE PAY YOU THE ANNUAL AMOUNT EVERY YEAR FROM YOUR TRADITIONAL IRA BASED ON THE METHOD YOU CHOOSE? We will only pay you automatically if you affirmatively select an annuity payout option or an account-based withdrawal option such as our minimum distribution withdrawal option. If you do elect one of these options, we will calculate the amount of the required minimum distribution withdrawal for you, if you so request in writing. However, in that case you will be responsible for asking us to pay the required minimum distribution withdrawal to you. Also, the IRS will let you calculate the required minimum distribution for each traditional IRA that you maintain, using the method that you picked for that particular IRA. You can add these required minimum distribution amount calculations together. As long as the total amount you take out every year satisfies your overall traditional IRA required minimum distribution amount, you may choose to take your annual required minimum distribution from any one or more traditional IRAs that you own. WHAT IF YOU TAKE MORE THAN YOU NEED TO FOR ANY YEAR? The required minimum distribution amount for your traditional IRAs is calculated on a year-by-year basis. There are no carry-back or carry-forward provisions. Also, you cannot apply required minimum distribution amounts you take from your qualified plans to the amounts you have to take from your traditional IRAs and vice versa. WHAT IF YOU TAKE LESS THAN YOU NEED TO FOR ANY YEAR? Your IRA could be disqualified, and you could have to pay tax on the entire value. Even if your IRA is not disqualified, you could have to pay a 50% penalty tax on the shortfall (required amount for traditional IRAs less amount actually taken). It is your responsibility to meet the required minimum distribution rules. We will remind you when our records show that you Tax information 61 are within the age group which must take lifetime required minimum distributions. If you do not select a method with us, we will assume you are taking your required minimum distribution from another traditional IRA that you own. WHAT ARE THE REQUIRED MINIMUM DISTRIBUTION PAYMENTS AFTER YOU DIE? These could vary depending on whether you die before or after your Required Beginning Date for lifetime required minimum distribution payments, and the status of your beneficiary. The following assumes that you have not yet elected an annuity-based payout at the time of your death. If you elect an annuity-based payout, payments (if any) after your death must be made at least as rapidly as when you were alive. INDIVIDUAL BENEFICIARY. Regardless of whether your death occurs before or after your Required Beginning Date, an individual death beneficiary calculates annual post-death required minimum distribution payments based on the beneficiary's life expectancy using the "term certain method." That is, he or she determines his or her life expectancy using the IRS-provided life expectancy tables as of the calendar year after the owner's death and reduces that number by one each subsequent year. If you die before your Required Beginning Date, the rules permit any individual beneficiary, including a spousal beneficiary, to elect instead to apply the "5-year rule." Under this rule, instead of annual payments having to be made beginning with the first in the year following the owner's death, the entire account must be distributed by the end of the calendar year which contains the fifth anniversary of the owner's death. No distribution is required before that fifth year. SPOUSAL BENEFICIARY. If you die after your Required Beginning Date, and your death beneficiary is your surviving spouse, your spouse has a number of choices. Post-death distributions may be made over your spouse's single life expectancy. Any amounts distributed after that surviving spouse's death are made over the spouse's life expectancy calculated in the year of his/her death, reduced by one for each subsequent year. In some circumstances, your surviving spouse may elect to become the owner of the traditional IRA and halt distributions until he or she reaches age 70-1/2, or roll over amounts from your traditional IRA into his/her own traditional IRA or other eligible retirement plan. If you die before your Required Beginning Date, and the death beneficiary is your surviving spouse, the rules permit the spouse to delay starting payments over his/her life expectancy until the year in which you would have attained age 70-1/2. NON-INDIVIDUAL BENEFICIARY. If you die after your Required Beginning Date, and your death beneficiary is a non-individual, such as the estate, the rules permit the beneficiary to calculate post-death required minimum distribution amounts based on the owner's life expectancy in the year of death. However, note that we need an individual annuitant to keep an annuity contract in force. If the beneficiary is not an individual, we must distribute amounts remaining in the annuity contract after the death of the annuitant. If you die before your Required Beginning Date for lifetime required minimum distribution payments, and the death beneficiary is a non-individual, such as the estate, the rules continue to apply the 5-year rule discussed above under "Individual beneficiary." Please note that we need an individual annuitant to keep an annuity contract in force. If the beneficiary is not an individual, we must distribute amounts remaining in the annuity contract after the death of the annuitant. SUCCESSOR ANNUITANT AND OWNER If your spouse is the sole primary beneficiary and elects to become the successor annuitant and owner, no death benefit is payable until your surviving spouse's death. The required minimum distribution rules are applied as if your surviving spouse is the contract owner. PAYMENTS TO A BENEFICIARY AFTER YOUR DEATH IRA death benefits are taxed the same as IRA distributions. BORROWING AND LOANS ARE PROHIBITED TRANSACTIONS You cannot get loans from a traditional IRA. You cannot use a traditional IRA as collateral for a loan or other obligation. If you borrow against your IRA or use it as collateral, its tax-favored status will be lost as of the first day of the tax year in which this prohibited event occurs. If this happens, you must include the value of the traditional IRA in your federal gross income. Also, the early distribution penalty tax of 10% may apply if you have not reached age 59-1/2 before the first day of that tax year. EARLY DISTRIBUTION PENALTY TAX A penalty tax of 10% of the taxable portion of a distribution applies to distributions from a traditional IRA made before you reach age 59-1/2. Some of the available exceptions to the pre-age 59-1/2 penalty tax include distributions made: o on or after your death; or o because you are disabled (special federal income tax definition); or o used to pay certain extraordinary medical expenses (special federal income tax definition); or o used to pay medical insurance premiums for unemployed individuals (special federal income tax definition); or o used to pay certain first-time home buyer expenses (special federal income tax definition; $10,000 lifetime total limit for these distributions from all your traditional and Roth IRAs); or o used to pay certain higher education expenses (special federal income tax definition); or o in the form of substantially equal periodic payments made at least annually over your life (or your life expectancy), or over the joint lives of you and your beneficiary (or your joint life expectancy) using an IRS-approved distribution method. 62 Tax information ROTH INDIVIDUAL RETIREMENT ANNUITIES ("ROTH IRAS") This section of the prospectus covers some of the special tax rules that apply to Roth IRAs. If the rules are the same as those that apply to the traditional IRA, we will refer you to the same topic under "traditional IRAs." The EQUI-VEST(SM) Roth IRA and Roth Advantage contracts are designed to qualify as Roth individual retirement annuities under Sections 408A and 408(b) of the Internal Revenue Code. CONTRIBUTIONS TO ROTH IRAS Individuals may make four different types of contributions to a Roth IRA: o regular after-tax contributions out of earnings; or o taxable rollover contributions from traditional IRAs or other eligible retirement plans ("conversion" rollover contributions); or o tax-free rollover contributions from other Roth individual retirement arrangements; or o tax-free direct custodian-to-custodian transfers from other Roth IRAs ("direct transfers"). If you use the forms we require, we will also accept traditional IRA funds which are subsequently recharacterized as Roth IRA funds following special federal income tax rules. REGULAR CONTRIBUTIONS TO ROTH IRAS LIMITS ON REGULAR CONTRIBUTIONS. The "maximum regular contribution amount" for any taxable year is the most that can be contributed to all of your IRAs (traditional and Roth) as regular contributions for the particular taxable year. The maximum regular contribution amount depends on age, earnings, and year, among other things. Generally, $5,000 is the maximum amount that you can contribute to all IRAs (including Roth IRAs). This limit does not apply to rollover contributions or direct custodian-to-custodian transfers into a Roth IRA. Any contributions to Roth IRAs reduce your ability to contribute to traditional IRAs and vice versa. When your earnings are below $5,000, your earned income or compensation for the year is the most you can contribute. If you are married and file a joint income tax return, you and your spouse may combine your compensation to determine the amount of regular contributions you are permitted to make to Roth IRAs and traditional IRAs. See the discussion above under "Special rules for spouses" earlier in this section under traditional IRAs. If you or your spouse are at least age 50 at any time during the taxable year for which you are making a regular contribution, you may be eligible to make additional catch-up contributions of up to $1,000. With a Roth IRA, you can make regular contributions when you reach 70-1/2, as long as you have sufficient earnings. But, you cannot make contributions, regardless of your age, for any year that your modified adjusted gross income exceeds the following amounts (indexed for cost of living adjustment: o your federal income tax filing status is "married filing jointly" and your modified adjusted gross income is over $160,000 (for 2007, $169,000 after adjustment); or o your federal income tax filing status is "single" and your modified adjusted gross income is over $110,000 (for 2008, $116,000 after adjustment). However, you can make regular Roth IRA contributions in reduced amounts when: o your federal income tax filing status is "married filing jointly" and your modified adjusted gross income is between $150,000 and $160,000 (for 2008, between $159,000 and $169,000 after adjustment); or o your federal income tax filing status is "single" and your modified adjusted gross income is between $95,000 and $110,000 (for 2008, between $101,000 and $116,000 after adjustment). If you are married and filing separately and your modified adjusted gross income is between $0 and $10,000, the amount of regular contributions you are permitted to make is phased out. If your modified adjusted gross income is more than $10,000 you cannot make a regular Roth IRA contribution. WHEN YOU CAN MAKE CONTRIBUTIONS? Same as traditional IRAs. DEDUCTIBILITY OF CONTRIBUTIONS. Roth IRA contributions are not tax deductible. ROLLOVERS AND DIRECT TRANSFERS WHAT IS THE DIFFERENCE BETWEEN ROLLOVER AND DIRECT TRANSFER TRANSACTIONS? The difference between a rollover transaction and a direct transfer transaction is the following: In a rollover transaction you actually take possession of the funds rolled over, or are considered to have received them under tax law in the case of a change from one type of plan to another. In a direct transfer transaction, you never take possession of the funds, but direct the first Roth IRA custodian, trustee, or issuer to transfer the first Roth IRA funds directly to the recipient Roth IRA custodian, trustee or issuer. You can make direct transfer transactions only between identical plan types (for example, Roth IRA to Roth IRA). You can also make rollover transactions between identical plan types. However, you can only make rollovers between different plan types (for example, traditional IRA to Roth IRA). You may make rollover contributions to a Roth IRA from these sources only: o another Roth IRA; o a traditional IRA, including a SEP-IRA or SIMPLE IRA (after a two-year rollover limitation period for SIMPLE IRA funds), in a taxable conversion rollover ("conversion rollover"); o a "designated Roth contribution account" under a 401(k) plan or a 403(b) plan (direct or 60-day); or Tax information 63 o from non-Roth accounts under another eligible retirement plan subject to limits specified below under "Conversion rollover contributions to Roth IRAs." You may make direct transfer contributions to a Roth IRA only from another Roth IRA. You may make both Roth IRA to Roth IRA rollover transactions and Roth IRA to Roth IRA direct transfer transactions. This can be accomplished on a completely tax-free basis. However, you may make Roth IRA to Roth IRA rollover transactions only once in any 12-month period for the same funds. Trustee-to-trustee or custodian-to-custodian direct transfers can be made more frequently than once a year. Also, if you send us the rollover contribution to apply it to a Roth IRA, you must do so within 60 days after you receive the proceeds from the original IRA to get rollover treatment. The surviving spousal beneficiary of a deceased individual can roll over or directly transfer an inherited Roth IRA to one or more other Roth IRAs. In some cases, Roth IRAs can be transferred on a tax-free basis between spouses or former spouses as a result of a court-ordered divorce or separation decree. CONVERSION ROLLOVER CONTRIBUTIONS TO ROTH IRAS In a conversion rollover transaction, you withdraw (or are considered to have withdrawn) all or a portion of funds from a traditional IRA you maintain and convert it to a Roth IRA within 60 days after you receive (or are considered to have received) the traditional IRA proceeds. Beginning in 2008 amounts can also be rolled over from non-Roth accounts under another eligible retirement plan, including a Code Section 401(a) qualified plan, a 403(b) plan, and a governmental employer Section 457(b) plan. You must meet AGI limits specified below. Unlike a rollover from a traditional IRA to another traditional IRA, a conversion rollover transaction from a traditional IRA or other eligible retirement plan to a Roth IRA is not tax-free. Instead, the distribution from the traditional IRA or other eligible retirement plan is generally fully taxable. In the case of a traditional IRA conversion rollover for example, we are required to withhold 10% federal income tax from the amount treated as converted unless you properly elect out of such withholding. If you are converting all or part of a traditional IRA, and you have ever made nondeductible regular contributions to any traditional IRA--whether or not it is the traditional IRA you are converting--a pro rata portion of the distribution is tax free. Even if you are under age 59-1/2, the early distribution penalty tax does not apply to conversion rollover contributions to a Roth IRA. The following rules apply until 2010: You cannot make conversion rollover contributions to a Roth IRA for any taxable year in which your modified adjusted gross income exceeds $100,000. (For this purpose, your modified adjusted gross income is computed without the gross income stemming from the conversion rollover. Modified adjusted gross income for this purpose excludes any lifetime required minimum distribution from a traditional IRA or other eligible retirement plan.) You also cannot make conversion contributions to a Roth IRA for any taxable year in which your federal income tax filing status is "married filing separately." You cannot make conversion contributions to a Roth IRA to the extent that the funds in your traditional IRA or other eligible retirement plan are subject to the lifetime annual required minimum distribution rules. You cannot convert and reconvert an amount during the same taxable year, or if later, during the 30-day period following a recharacterization. If you reconvert during either of these periods, it will be a failed Roth IRA conversion. The IRS and Treasury have issued Proposed and Temporary Treasury Regulations addressing the valuation of annuity contracts funding traditional IRAs in the conversion to Roth IRAs. Although these Regulations are not clear, they could require an individual's gross income on the conversion of a traditional IRA to a Roth IRA to be measured using various actuarial methods and not as if the annuity contract funding the traditional IRA had been surrendered at the time of conversion. This could increase the amount reported as includible in certain circumstances. RECHARACTERIZATIONS You may be able to treat a contribution made to one type of IRA as having been made to a different type of IRA. This is called recharacterizing the contribution. HOW TO RECHARACTERIZE. To recharacterize a contribution, you generally must have the contribution transferred from the first IRA (the one to which it was made) to the second IRA in a deemed trustee-to-trustee transfer. If the transfer is made by the due date (including extensions) for your tax return for the year during which the contribution was made, you can elect to treat the contribution as having been originally made to the second IRA instead of to the first IRA. It will be treated as having been made to the second IRA on the same date that it was actually made to the first IRA. You must report the recharacterization, and must treat the contribution as having been made to the second IRA, instead of the first IRA, on your tax return for the year during which the contribution was made. The contribution will not be treated as having been made to the second IRA unless the transfer includes any net income allocable to the contribution. You can take into account any loss on the contribution while it was in the IRA when calculating the amount that must be transferred. If there was a loss, the net income you must transfer may be a negative amount. No deduction is allowed for the contribution to the first IRA and any net income transferred with the recharacterized contribution is treated as earned in the second IRA. The contribution will not be treated as having been made to the second IRA to the extent any deduction was allowed with respect to the contribution to the first IRA. For recharacterization purposes, a distribution from a traditional IRA that is received in one tax year and rolled over into a Roth IRA in the next year, but still within 60 days of the distribution from the traditional IRA, is treated as a contribution to the Roth IRA in the year of the distribution from the traditional IRA. Roth IRA conversion contributions from a SEP-IRA or SIMPLE IRA can be recharacterized to a SEP-IRA (including the original SEP-IRA or 64 Tax information SIMPLE IRA). You cannot recharacterize back to the original plan a contribution directly rolled over from an eligible retirement plan which is not a traditional IRA. The recharacterization of a contribution is not treated as a rollover for purposes of the 12-month limitation period described above. This rule applies even if the contribution would have been treated as a rollover contribution by the second IRA if it had been made directly to the second IRA rather than as a result of a recharacterization of a contribution to the first IRA. To recharacterize a contribution you must use our forms. WITHDRAWALS, PAYMENTS AND TRANSFERS OF FUNDS OUT OF ROTH IRAS NO FEDERAL INCOME TAX LAW RESTRICTIONS ON WITHDRAWALS. You can withdraw any or all of your funds from a Roth IRA at any time; you do not need to wait for a special event like retirement. DISTRIBUTIONS FROM ROTH IRAS Distributions include withdrawals from your contract, surrender and termination of your contract, and annuity payments from your contract. Death benefits are also distributions. You must keep your own records of regular and conversion contributions to all Roth IRAs to assure appropriate taxation. You may have to file information on your contributions to and distributions from any Roth IRA on your tax return. You may have to retain all income tax returns and records pertaining to such contributions and distributions until your interests in all Roth IRAs are distributed. Like traditional IRAs, taxable distributions from a Roth IRA are not entitled to the special favorable ten-year averaging and long-term capital gain treatment available in limited cases to certain distributions from qualified plans. The following distributions from Roth IRAs are free of income tax: o Rollovers from a Roth IRA to another Roth IRA; o Direct transfers from a Roth IRA to another Roth IRA; o Qualified distributions from Roth IRA; and o Return of excess contributions or amounts recharacterized to a traditional IRA. QUALIFIED DISTRIBUTIONS FROM ROTH IRAS. Qualified distributions from Roth IRAs made because of one of the following four qualifying events or reasons are not includable in income: o you are age 59-1/2 or older; or o you die; or o you become disabled (special federal income tax definition); or o your distribution is a "qualified first-time homebuyer distribution" (special federal income tax definition; $10,000 lifetime total limit for these distributions from all of your traditional and Roth IRAs). You also have to meet a five-year aging period. A qualified distribution is any distribution made after the five-taxable-year period beginning with the first taxable year for which you made any contribution to any Roth IRA (whether or not the one from which the distribution is being made). NONQUALIFIED DISTRIBUTIONS FROM ROTH IRAS. Nonqualified distributions from Roth IRAs are distributions that do not meet both the qualifying event and five-year aging period tests described above. If you receive such a distribution, part of it may be taxable. For purposes of determining the correct tax treatment of distributions (other than the withdrawal of excess contributions and the earnings on them), there is a set order in which contributions (including conversion contributions) and earnings are considered to be distributed from your Roth IRA. The order of distributions is as follows: (1) Regular contributions. (2) Conversion contributions, on a first-in-first-out basis (generally, total conversions from the earliest year first). These conversion contributions are taken into account as follows: (a) Taxable portion (the amount required to be included in gross income because of conversion) first, and then the (b) Nontaxable portion. (3) Earnings on contributions. Rollover contributions from other Roth IRAs are disregarded for this purpose. To determine the taxable amounts distributed, distributions and contributions are aggregated or grouped together as follows: (1) All distributions made during the year from all Roth IRAs you maintain -- with any custodian or issuer -- are added together. (2) All regular contributions made during and for the year (contributions made after the close of the year, but before the due date of your return) are added together. This total is added to the total undistributed regular contributions made in prior years. (3) All conversion contributions made during the year are added together. For purposes of the ordering rules, in the case of any conversion in which the conversion distribution is made in 2008 and the conversion contribution is made in 2009, the conversion contribution is treated as contributed prior to the other conversion contributions made in 2009. Any recharacterized contributions that end up in a Roth IRA are added to the appropriate contribution group for the year that the original contribution would have been taken into account if it had been made directly to the Roth IRA. Any recharacterized contribution that ends up in an IRA other than a Roth IRA is disregarded for the purpose of grouping both contributions and distributions. Any amount withdrawn to correct an excess contribution (including the earnings withdrawn) is also disregarded for this purpose. REQUIRED MINIMUM DISTRIBUTIONS DURING LIFE Lifetime required minimum distributions do not apply. Tax information 65 REQUIRED MINIMUM DISTRIBUTIONS AT DEATH Same as traditional IRA under "What are the required minimum distribution payments after you die?", assuming death before the Required Beginning Date. PAYMENTS TO A BENEFICIARY AFTER YOUR DEATH Distributions to a beneficiary generally receive the same tax treatment as if the distribution had been made to you. BORROWING AND LOANS ARE PROHIBITED TRANSACTIONS Same as traditional IRA. EXCESS CONTRIBUTIONS Generally, the same as traditional IRA, except that regular contributions made after age 70-1/2 are not excess contributions. Excess rollover contributions to Roth IRAs are contributions not eligible to be rolled over (for example, conversion contributions from a traditional IRA if your modified adjusted gross income is in excess of $100,000 in the conversion year). You can withdraw or recharacterize any contribution to a Roth IRA before the due date (including extensions) for filing your federal income tax return for the tax year. If you do this, you must also withdraw or recharacterize any earnings attributable to the contribution. EARLY DISTRIBUTION PENALTY TAX Same as traditional IRA. ILLUSTRATION OF GUARANTEED INTEREST RATES In the following two tables, we provide information that the IRS requires us to furnish to prospective IRA contract owners. In the tables we illustrate the 1.00% minimum guaranteed interest rate for contributions we assume are allocated entirely to the guaranteed interest option under series 300 and 400. (The rate may be higher in your state.) We assume no withdrawals or transfers were made under the contract. In Table II we assume a single initial contribution of $1,000, and no additional contributions. We also assume no withdrawals or transfers. The guaranteed interest rate, which can range from 1.00% to 3.00% (4.00% for NQ in some states), is in the contract. The values shown assume the withdrawal charge applies. These values reflect the effect of the annual administrative charge deducted at the end of each contract year in which the account value is less than $20,000. To find the appropriate value for the end of the contract year at any particular age, you subtract the age (nearest birthday) at issue of the contract from the current age and find the corresponding year in the table. Years that correspond to a current age over 70, should be ignored, unless the contract is a Roth IRA. You should consider the information shown in the tables in light of your present age. Also, with respect to Table I, you should consider your ability to contribute $1,000 annually. Any change in the amounts contributed annually in Table I, or in the amount of the single contribution in Table II would, of course, change the results shown. 66 Tax information Table I guaranteed minimum interest rate of 1.00% (the rate may behigher in your state) TABLE I ACCOUNT VALUES AND CASH VALUES (ASSUMING $1,000 CONTRIBUTIONS MADE ANNUALLY AT THE BEGINNING OF THE CONTRACT YEAR)
- ----------------------------------------------------------------------------------- 1.00% Minimum Guarantee 1.00% Minimum Guarantee - ---------------------------------------- ------------------------------------------ Contract Account Cash Contract Account Cash Year End Value Value Year End Value Value - ---------------------------------------- ------------------------------------------ 1 $ 989.80 $ 936.35 26 $ 29,196.26 $ 28,836.26 - ---------------------------------------- ------------------------------------------ 2 $ 1,979.70 $ 1,872.79 27 $ 30,498.22 $ 30,138.22 - ---------------------------------------- ------------------------------------------ 3 $ 2,979.49 $ 2,818.60 28 $ 31,813.20 $ 31,453.20 - ---------------------------------------- ------------------------------------------ 4 $ 3,989.29 $ 3,773.87 29 $ 33,141.33 $ 32,781.33 - ---------------------------------------- ------------------------------------------ 5 $ 5,009.18 $ 4,738.69 30 $ 34,482.75 $ 34,122.75 - ---------------------------------------- ------------------------------------------ 6 $ 6,039.27 $ 5,713.15 31 $ 35,837.57 $ 35,477.57 - ---------------------------------------- ------------------------------------------ 7 $ 7,079.67 $ 6,719.67 32 $ 37,205.95 $ 36,845.95 - ---------------------------------------- ------------------------------------------ 8 $ 8,130.46 $ 7,770.46 33 $ 38,588.01 $ 38,228.01 - ---------------------------------------- ------------------------------------------ 9 $ 9,191.77 $ 8,831.77 34 $ 39,983.89 $ 39,623.89 - ---------------------------------------- ------------------------------------------ 10 $ 10,263.69 $ 9,903.69 35 $ 41,393.73 $ 41,033.73 - ---------------------------------------- ------------------------------------------ 11 $ 11,346.32 $ 10,986.32 36 $ 42,817.67 $ 42,457.67 - ---------------------------------------- ------------------------------------------ 12 $ 12,439.79 $ 12,079.79 37 $ 44,255.84 $ 43,895.84 - ---------------------------------------- ------------------------------------------ 13 $ 13,544.18 $ 13,184.18 38 $ 45,708.40 $ 45,348.40 - ---------------------------------------- ------------------------------------------ 14 $ 14,659.63 $ 14,299.63 39 $ 47,175.49 $ 46,815.49 - ---------------------------------------- ------------------------------------------ 15 $ 15,786.22 $ 15,426.22 40 $ 48,657.24 $ 48,297.24 - ---------------------------------------- ------------------------------------------ 16 $ 16,924.08 $ 16,564.08 41 $ 50,153.81 $ 49,793.81 - ---------------------------------------- ------------------------------------------ 17 $ 18,073.33 $ 17,713.33 42 $ 51,665.35 $ 51,305.35 - ---------------------------------------- ------------------------------------------ 18 $ 19,234.06 $ 18,874.06 43 $ 53,192.00 $ 52,832.00 - ---------------------------------------- ------------------------------------------ 19 $ 20,436.40 $ 20,076.40 44 $ 54,733.92 $ 54,373.92 - ---------------------------------------- ------------------------------------------ 20 $ 21,650.76 $ 21,290.76 45 $ 56,291.26 $ 55,931.26 - ---------------------------------------- ------------------------------------------ 21 $ 22,877.27 $ 22,517.27 46 $ 57,864.18 $ 57,504.18 - ---------------------------------------- ------------------------------------------ 22 $ 24,116.04 $ 23,756.04 47 $ 59,452.82 $ 59,092.82 - ---------------------------------------- ------------------------------------------ 23 $ 25,367.20 $ 25,007.20 48 $ 61,057.35 $ 60,697.35 - ---------------------------------------- ------------------------------------------ 24 $ 26,630.88 $ 26,270.88 49 $ 62,677.92 $ 62,317.92 - ---------------------------------------- ------------------------------------------ 25 $ 27,907.18 $ 27,547.18 50 $ 64,314.70 $ 63,954.70 - -----------------------------------------------------------------------------------
Table II guaranteed minimum interest rate of 1.00% (the rate may be higher in your state) TABLE II ACCOUNT VALUES AND CASH VALUES (ASSUMING A SINGLE CONTRIBUTION OF $1,000 AND NO FURTHER CONTRIBUTION)
- --------------------------------------------------------------------------- 1.00% Minimum Guarantee 1.00% Minimum Guarantee - -------------------------------------- ------------------------------------ Contract Account Cash Contract Account Cash Year End Value Value Year End Value Value - -------------------------------------- ------------------------------------ 1 $ 989.80 $ 936.35 26 $ 434.76 $ 434.76 - -------------------------------------- ------------------------------------ 2 $ 979.70 $ 926.80 27 $ 409.11 $ 409.11 - -------------------------------------- ------------------------------------ 3 $ 959.50 $ 907.69 28 $ 383.20 $ 383.20 - -------------------------------------- ------------------------------------ 4 $ 939.10 $ 888.38 29 $ 357.03 $ 357.03 - -------------------------------------- ------------------------------------ 5 $ 918.49 $ 868.89 30 $ 330.60 $ 330.60 - -------------------------------------- ------------------------------------ 6 $ 897.67 $ 849.20 31 $ 303.91 $ 303.91 - -------------------------------------- ------------------------------------ 7 $ 876.65 $ 876.65 32 $ 276.95 $ 276.95 - -------------------------------------- ------------------------------------ 8 $ 855.42 $ 855.42 33 $ 249.72 $ 249.72 - -------------------------------------- ------------------------------------ 9 $ 833.97 $ 833.97 34 $ 222.21 $ 222.21 - -------------------------------------- ------------------------------------ 10 $ 812.31 $ 812.31 35 $ 194.44 $ 194.44 - -------------------------------------- ------------------------------------ 11 $ 790.43 $ 790.43 36 $ 166.38 $ 166.38 - -------------------------------------- ------------------------------------ 12 $ 768.34 $ 768.34 37 $ 138.04 $ 138.04 - -------------------------------------- ------------------------------------ 13 $ 746.02 $ 746.02 38 $ 109.42 $ 109.42 - -------------------------------------- ------------------------------------ 14 $ 723.48 $ 723.48 39 $ 80.52 $ 80.52 - -------------------------------------- ------------------------------------ 15 $ 700.71 $ 700.71 40 $ 51.32 $ 51.32 - -------------------------------------- ------------------------------------ 16 $ 677.72 $ 677.72 41 $ 21.84 $ 21.84 - -------------------------------------- ------------------------------------ 17 $ 654.50 $ 654.50 42 $ 0.00 $ 0.00 - -------------------------------------- ------------------------------------ 18 $ 631.04 $ 631.04 43 $ 0.00 $ 0.00 - -------------------------------------- ------------------------------------ 19 $ 607.35 $ 607.35 44 $ 0.00 $ 0.00 - -------------------------------------- ------------------------------------ 20 $ 583.43 $ 583.43 45 $ 0.00 $ 0.00 - -------------------------------------- ------------------------------------ 21 $ 559.26 $ 559.26 46 $ 0.00 $ 0.00 - -------------------------------------- ------------------------------------ 22 $ 534.85 $ 534.85 47 $ 0.00 $ 0.00 - -------------------------------------- ------------------------------------ 23 $ 510.20 $ 510.20 48 $ 0.00 $ 0.00 - -------------------------------------- ------------------------------------ 24 $ 485.31 $ 485.31 49 $ 0.00 $ 0.00 - -------------------------------------- ------------------------------------ 25 $ 460.16 $ 460.16 50 $ 0.00 $ 0.00 - -------------------------------------- ------------------------------------
Tax information 67 FEDERAL AND STATE INCOME TAX WITHHOLDING AND INFORMATION REPORTING We must withhold federal income tax from distributions from annuity contracts. You may be able to elect out of this income tax withholding in some cases. Generally, we do not have to withhold if your distributions are not taxable. The rate of withholding will depend on the type of distribution and, in certain cases, the amount of your distribution. Any income tax withheld is a credit against your income tax liability. If you do not have sufficient income tax withheld or do not make sufficient estimated income tax payments, you may incur penalties under the estimated income tax rules. You must file your request not to withhold in writing before the payment or distribution is made. Our processing office will provide forms for this purpose. You cannot elect out of withholding unless you provide us with your correct Taxpayer Identification Number and a United States residence address. You cannot elect out of withholding if we are sending the payment out of the United States. You should note the following special situations: o We might have to withhold and/or report on amounts we pay under a free look or cancellation. o We are generally required to withhold on conversion rollovers of traditional IRAs to Roth IRAs, as it is considered a withdrawal from the traditional IRA and is taxable. o We are required to withhold on the gross amount of a distribution from a Roth IRA to the extent it is reasonable for us to believe that a distribution is includable in your gross income. This may result in tax being withheld even though the Roth IRA distribution is ultimately not taxable. You can elect out of withholding as described below. Special withholding rules apply to foreign recipients and United States citizens residing outside the United States. We do not discuss these rules here in detail. However, we may require additional documentation in the case of payments made to non-United States persons and United States persons living abroad prior to processing any requested transaction. Certain states have indicated that state income tax withholding will also apply to payments from the contracts made to residents. In some states, you may elect out of state withholding, even if federal withholding applies. Generally, an election out of federal withholding will also be considered an election out of state withholding. If you need more information concerning a particular state or any required forms, call our processing office at the toll-free number. FEDERAL INCOME TAX WITHHOLDING ON PERIODIC ANNUITY PAYMENTS We withhold differently on "periodic" and "non-periodic" payments. For a periodic annuity payment, for example, unless you specify a different number of withholding exemptions, we withhold assuming that you are married and claiming three withholding exemptions. If you do not give us your correct Taxpayer Identification Number, we withhold as if you are single with no exemptions. Based on the assumption that you are married and claiming three withholding exemptions, if you receive less than $18,720 in periodic annuity payments in 2008 your payments will generally be exempt from federal income tax withholding. You could specify a different choice of withholding exemption or request that tax be withheld. Your withholding election remains effective unless and until you revoke it. You may revoke or change your withholding election at any time. FEDERAL INCOME TAX WITHHOLDING ON NON-PERIODIC ANNUITY PAYMENTS (WITHDRAWALS) For a non-periodic distribution (total surrender, termination, or partial withdrawal), we generally withhold at a flat 10% rate. We apply that rate to the taxable amount in the case of nonqualified contracts, and to the payment amount in the case of traditional IRAs and Roth IRAs, where it is reasonable to assume an amount is includable in gross income. IMPACT OF TAXES TO AXA EQUITABLE The contracts provide that we may charge Separate Account A for taxes. We do not now, but may in the future set up reserves for such taxes. 68 Tax information 8. More information - -------------------------------------------------------------------------------- ABOUT OUR SEPARATE ACCOUNT A Each variable investment option is a subaccount of our Separate Account A. We established Separate Account A in 1968 under special provisions of the New York Insurance Law. These provisions prevent creditors from any other business we conduct from reaching the assets we hold in our variable investment options for owners of our variable annuity contracts. For example, we may withdraw amounts from Separate Account A that represent our investments in Separate Account A or that represent fees and charges under the contracts that we have earned. We are the legal owner of all of the assets in Separate Account A and may withdraw any amounts that exceed our reserves and other liabilities with respect to variable investment options under our contracts. The results of Separate Account A's operations are accounted for without regard to AXA Equitable's other operations. The amount of some of our obligations under the contracts is based on the assets in Separate Account A. However, the obligations themselves are obligations of AXA Equitable. Separate Account A is registered under the Investment Company Act of 1940 and is registered and classified under that act as a "unit investment trust." The SEC, however, does not manage or supervise AXA Equitable or Separate Account A. Although Separate Account A is registered, the SEC does not monitor the activity of Separate Account A on a daily basis. AXA Equitable is not required to register, and is not registered, as an investment company under the Investment Company Act of 1940. Each subaccount (variable investment option) within Separate Account A invests solely in Class IA/A or Class IB/B shares issued by the corresponding portfolio of its Trust. We reserve the right subject to compliance with laws that apply: (1) to add variable investment options to, or to remove variable investment options from, Separate Account A, or to add other separate accounts; (2) to combine any two or more variable investment options; (3) to transfer the assets we determine to be the shares of the class of contracts to which the contracts belong from any variable investment option to another variable investment option; (4) to operate Separate Account A or any variable investment option as a management investment company under the Investment Company Act of 1940 (in which case, charges and expenses that otherwise would be assessed against an underlying mutual fund would be assessed against Separate Account A or a variable investment option directly); (5) to deregister Separate Account A under the Investment Company Act of 1940; (6) to restrict or eliminate any voting rights as to Separate Account A; (7) to cause one or more variable investment options to invest some or all of their assets in one or more other trusts or investment companies; and (8) to unilaterally change your contract in order to comply with any applicable laws and regulations, including but not limited to changes in the Internal Revenue Code, in Treasury Regulations or in published rulings of the Internal Revenue Service and in Department of Labor regulations. Any change in the contract must be in writing and made by our authorized officer. We will provide notice of any contract change. ABOUT THE TRUSTS The Trusts are registered under the Investment Company Act of 1940. They are classified as "open-end management investment companies," more commonly called mutual funds. Each Trust issues different shares relating to each portfolio. The Trusts do not impose sales charges or "loads" for buying and selling their shares. All dividends and other distributions on the Trust's shares are reinvested in full. The Board of Trustees or Board of Directors, as applicable, of each Trust may establish additional portfolios or eliminate existing portfolios at any time. More detailed information about each Trust, its portfolio investment objectives, policies, restrictions, risks, expenses, its Rule 12b-1 Plan relating to its Class IB/B shares and other aspects of its operations, appear in the prospectuses for each Trust, which generally accompany this prospectus or in their respective SAIs, which are available upon request. ABOUT OUR FIXED MATURITY OPTIONS RATES TO MATURITY AND PRICE PER $100 OF MATURITY VALUE We can determine the amount required to be allocated to one or more fixed maturity options in order to produce specified maturity values. For example, we can tell you how much you need to allocate per $100 of maturity value. The rates to maturity are determined weekly. The rates in the table below are illustrative only and will most likely differ from the rates applicable at time of purchase. Current rates to maturity can be obtained through TOPS or EQAccess or from your financial professional. The rates to maturity for new allocations as of February 15, 2008 and the related price per $100 of maturity value were as shown below: - ----------------------------------------------------------- Fixed Maturity Options with June 15th Rate to Price Maturity Date of Maturity as of Per $100 of Maturity Year February 15, 2008 Maturity Value - ----------------------------------------------------------- 2008 3.00%** $ 99.02 2009 3.00%** $ 96.14 2010 3.00%** $ 93.34 2011 3.00%** $ 90.62 2012 3.00%** $ 87.98 2013 3.20% $ 84.53 2014 3.65% $ 79.69 2015* 4.05% $ 74.74 - ----------------------------------------------------------- More information 69 - ----------------------------------------------------------- Fixed Maturity Options with June 15th Rate to Price Maturity Date of Maturity as of Per $100 of Maturity Year February 15, 2008 Maturity Value - ----------------------------------------------------------- 2016* 4.25% $ 70.68 2017* 4.45% $ 66.60 - ----------------------------------------------------------- * Not available in Oregon ** Since these rates to maturity are 3%, no amounts could have been allocated to these options. HOW WE DETERMINE THE MARKET VALUE ADJUSTMENT We use the following procedure to calculate the market value adjustment (up or down) we make if you withdraw all of your value from a fixed maturity option before its maturity date. (1) We determine the market adjusted amount on the date of the withdrawal as follows: (a) We determine the fixed maturity amount that would be payable on the maturity date, using the rate to maturity for the fixed maturity option. (b) We determine the period remaining in your fixed maturity option (based on the withdrawal date) and convert it to fractional years based on a 365-day year. For example, three years and 12 days becomes 3.0329. (c) We determine the current rate to maturity that applies on the withdrawal date to new allocations to the same fixed maturity option. (d) We determine the present value of the fixed maturity amount payable at the maturity date, using the period determined in (b) and the rate determined in (c). (2) We determine the fixed maturity amount as of the current date. (3) We subtract (2) from the result in (1)(d). The result is the market value adjustment applicable to such fixed maturity option, which may be positive or negative. - -------------------------------------------------------------------------------- Your market adjusted amount is the present value of the maturity value discounted at the rate to maturity in effect for new contributions to that same fixed maturity option on the date of the calculation. - -------------------------------------------------------------------------------- If you withdraw only a portion of the amount in a fixed maturity option, the market value adjustment will be a percentage of the market value adjustment that would have applied if you had withdrawn the entire value in that fixed maturity option. This percentage is equal to the percentage of the value in the fixed maturity option that you are withdrawing. Any withdrawal charges that are deducted from a fixed maturity option will result in a market value adjustment calculated in the same way. See Appendix III at the end of this prospectus for an example. For purposes of calculating the rate to maturity for new allocations to a fixed maturity option (see (1)(c) above), we use the rate we have in effect for new allocations to that fixed maturity option. We use this rate even if new allocations to that option would not be accepted at that time. This rate will not be less than 3%. If we do not have a rate to maturity in effect for a fixed maturity option to which the "current rate to maturity" in (1)(c) above would apply, we will use the rate at the next closest maturity date. If we are no longer offering new fixed maturity options, the "current rate to maturity" will be determined in accordance with our procedures then in effect. We reserve the right to add up to 0.50% to the current rate in (1)(c) above for purposes of calculating the market value adjustment only. INVESTMENTS UNDER THE FIXED MATURITY OPTIONS Amounts allocated to the fixed maturity options are held in a "nonunitized" separate account we have established under the New York Insurance Law. This separate account provides an additional measure of assurance that we will make full payment of amounts due under the fixed maturity options. Under New York Insurance Law, the portion of the separate account's assets equal to the reserves and other contract liabilities relating to the contracts are not chargeable with liabilities from any other business we may conduct. We own the assets of the separate account, as well as any favorable investment performance on those assets. You do not participate in the performance of the assets held in this separate account. We may, subject to state law that applies, transfer all assets allocated to the separate account to our general account. We guarantee all benefits relating to your value in the fixed maturity options, regardless of whether assets supporting fixed maturity options are held in a separate account or our general account. We have no specific formula for establishing the rates to maturity for the fixed maturity options. We expect the rates to be influenced by, but not necessarily correspond to, among other things, the yields that we can expect to realize on the separate account's investments from time to time. Our current plans are to invest in fixed-income obligations, including corporate bonds, mortgage-backed and asset-backed securities and government and agency issues having durations in the aggregate consistent with those of the fixed maturity options. Although the above generally describes our plans for investing the assets supporting our obligations under the fixed maturity options under the contracts, we are not obligated to invest those assets according to any particular plan except as we may be required to by state insurance laws. We will not determine the rates to maturity we establish by the performance of the nonunitized separate account. ABOUT THE GENERAL ACCOUNT Our general account supports all of our policy and contract guarantees, including those that apply to the guaranteed interest option and the fixed maturity options, as well as our general obligations. The general account is subject to regulation and supervision by the Insurance Department of the State of New York and to the insurance laws and regulations of all jurisdictions where we are authorized to do business. Interests under the contracts in the general account have not been registered and are not required to be registered under the Securities Act of 1933 because of exemptions and exclusionary provisions that apply. The general account is not required to register as an investment company under the Investment Company Act of 1940 and it is not registered as an investment company under the Investment Company Act of 1940. The market value adjustment interests under the contracts which are held in a separate account are issued by AXA 70 More information Equitable and are registered under the Securities Act of 1933. The contract is a "covered security" under federal securities laws. We have been advised that the staff of the SEC has not reviewed the portions of this prospectus that relate to the general account. The disclosure with regard to the general account, however, may be subject to certain provisions of the federal securities laws relating to the accuracy and completeness of statements made in prospectuses. ABOUT OTHER METHODS OF PAYMENT AUTOMATIC INVESTMENT PROGRAM -- FOR NQ, TRADITIONAL IRA, ROTH IRA AND ROTH ADVANTAGE CONTRACTS You may use our automatic investment program, or "AIP," to have a specified amount automatically deducted from a bank checking or savings account, money market checking or savings account, or credit union checking or savings account and contributed as an additional contribution into an NQ, traditional IRA, Roth IRA and Roth Advantage contracts on a monthly basis. For all forms of IRAs, your contributions are subject to the limits and conditions on contributions described in "Tax information" earlier in this prospectus. AIP additional contributions may be allocated to any of the variable investment options and the guaranteed interest option, but not the fixed maturity options. Our minimum contribution amount requirement is $20. You choose the day of the month you wish to have your account debited. However, you may not choose a date later than the 28th day of the month. You may cancel AIP at any time by notifying our processing office. We are not responsible for any debits made to your account before the time written notice of cancellation is received at our processing office. PAYROLL DEDUCTION PROGRAM. You can authorize your employer to remit your NQ, traditional or Roth IRA contributions to us if your employer has a payroll deduction program. Those contributions are still your contributions, not your employer's. WIRE TRANSFERS. You may also send your contributions by wire transfer from your bank. DATES AND PRICES AT WHICH CONTRACT EVENTS OCCUR We describe below the general rules for when, and at what prices, events under your contract will occur. Other portions of this prospectus describe circumstances that may cause exceptions. We generally do not repeat those exceptions below. BUSINESS DAY Our "business day" is generally any day the New York Stock Exchange ("NYSE") is open for regular trading and generally ends at 4:00 p.m. Eastern Time (or as of an earlier close of regular trading). A business day does not include a day on which we are not open due to emergency conditions determined by the Securities and Exchange Commission. We may also close early due to such emergency conditions. Contributions will be applied and any other transaction requests will be processed when they are received along with all the required information unless another date applies as indicated below. o If your contribution, transfer or any other transaction request containing all the required information reaches us on any of the following, we will use the next business day: - on a non-business day: - after 4:00 p.m. Eastern Time on a business day; or - after an early close of regular trading on the NYSE on a business day. o When a charge is to be deducted on a contract date anniversary that is a non-business day, we will deduct the charge on the next business day. CONTRIBUTIONS, TRANSFERS, WITHDRAWALS AND SURRENDERS o Contributions allocated to the variable investment options are invested at the unit value next determined after the receipt of the contribution. o Contributions allocated to a fixed maturity option will receive the rate to maturity in effect for that fixed maturity option on that business day. o Contributions allocated to the guaranteed interest option will receive the guaranteed interest rate in effect on that business day. o If a fixed maturity option is scheduled to mature on June 15th and June 15th is a non-business day, that fixed maturity option will mature on the prior business day. o Transfers to or from variable investment options will be made at the unit value next determined after the receipt of the transfer request. o Transfers to the guaranteed interest option will receive the guaranteed interest rate in effect on that business day. o Transfers to a fixed maturity option will receive the rate to maturity in effect for that fixed maturity option on that business day. o Transfers out of a fixed maturity option will be at the market adjusted amount on that business day. o For the fixed-dollar option, the first monthly transfer will occur on the last business day of the month in which we receive your election form at our processing office. o For the interest sweep, the first monthly transfer will occur on the last business day of the month following the month that we receive your election form at our processing office. o Quarterly rebalancing will be processed on a calendar year basis. Semiannual or annual rebalancing will be processed on the first business day of the month. Rebalancing will not be done retroactively. o Requests for withdrawals or surrenders will occur on the business day that we receive the information that we require. ABOUT YOUR VOTING RIGHTS As the owner of shares of the Trusts we have the right to vote on certain matters involving the portfolios, such as: o the election of trustees; o the formal approval of independent auditors selected for each Trust; or More information 71 o any other matters described in each prospectus for the Trusts or requiring a shareholders' vote under the Investment Company Act of 1940. We will give contract owners the opportunity to instruct us how to vote the number of shares attributable to their contracts if a shareholder vote is taken. If we do not receive instructions in time from all contract owners, we will vote the shares of a portfolio for which no instructions have been received in the same proportion as we vote shares of that portfolio for which we have received instructions. We will also vote any shares that we are entitled to vote directly because of amounts we have in a portfolio in the same proportions that contract owners vote. The Trusts sell their shares to AXA Equitable separate accounts in connection with AXA Equitable's variable annuity and/or life insurance products, and to separate accounts of insurance companies, both affiliated and unaffiliated with AXA Equitable. AXA Premier VIP Trust and EQ Advisors Trust also sell their shares to the trustee of a qualified plan for AXA Equitable. We currently do not foresee any disadvantages to our contract owners arising out of these arrangements. However, the Board of Trustees or Directors of each Trust intends to monitor events to identify any material irreconcilable conflicts that may arise and to determine what action, if any, should be taken in response. If we believe that a Board's response insufficiently protects our contract owners, we will see to it that appropriate action is taken to do so. SEPARATE ACCOUNT A VOTING RIGHTS If actions relating to Separate Account A require contract owner approval, contract owners will be entitled to one vote for each unit they have in the variable investment options. Each contract owner who has elected a variable annuity payout option may cast the number of votes equal to the dollar amount of reserves we are holding for that annuity in a variable investment option divided by the annuity unit value for that option. We will cast votes attributable to any amounts we have in the variable investment options in the same proportion as votes cast by contract owners. CHANGES IN APPLICABLE LAW The voting rights we describe in this prospectus are created under applicable federal securities laws. To the extent that those laws or the regulations published under those laws eliminate the necessity to submit matters for approval by persons having voting rights in separate accounts of insurance companies, we reserve the right to proceed in accordance with those laws or regulations. ABOUT LEGAL PROCEEDINGS AXA Equitable and its affiliates are parties to various legal proceedings. In our view, none of these proceedings would be considered material with respect to a contract owner's interest in Separate Account A, nor would any of these proceedings be likely to have a material adverse effect upon Separate Account A, our ability to meet our obligations under the contracts, or the distribution of the contracts. FINANCIAL STATEMENTS The financial statements of Separate Account A, as well as the consolidated financial statements of AXA Equitable, are in the SAI. The SAI is available free of charge. You may request one by writing our processing office or calling 1 (800) 628-6673. TRANSFERS OF OWNERSHIP, COLLATERAL ASSIGNMENTS, LOANS, AND BORROWING You can transfer ownership of an NQ contract at any time before annuity payments begin. We will continue to treat you as the owner until we receive written notification of any change at our processing office. In some cases, an assignment or change of ownership may have adverse tax consequences. See "Tax information" earlier in this prospectus. You cannot assign or transfer ownership of a traditional IRA, QP IRA or Roth IRA contract except by surrender to us. You cannot assign your contract as collateral or security for a loan. Loans are also not available under your contract. For limited transfers of ownership after the owner's death see "Beneficiary continuation option" in "Payment of death benefit" earlier in this prospectus. You may direct the transfer of the values under your traditional IRA and Roth IRA contract to another similar arrangement. DISTRIBUTION OF THE CONTRACTS The contracts are distributed by both AXA Advisors, LLC ("AXA Advisors") and AXA Distributors, LLC ("AXA Distributors") (together, the "Distributors"). The Distributors serve as principal underwriters of Separate Account A. The offering of the contracts is intended to be continuous. AXA Advisors is an affiliate of AXA Equitable, and AXA Distributors is an indirect wholly owned subsidiary of AXA Equitable. The Distributors are under the common control of AXA Financial, Inc. Their principal business address is 1290 Avenue of the Americas, New York, NY 10104. The Distributors are registered with the SEC as broker-dealers and are members of the Financial Industry Regulatory Authority, Inc. ("FINRA"). Both broker-dealers also act as distributors for other AXA Equitable life and annuity products. The contracts are sold by financial professionals of AXA Advisors and its affiliates. The contracts are also sold by financial professionals of both affiliated and unaffiliated broker-dealers that have entered into selling agreements with the Distributors ("Selling broker-dealers"). AXA Equitable pays compensation to both Distributors based on contracts sold. Compensation paid to AXA Advisors is based on contributions made on the contracts sold through AXA Advisors ("contribution-based compensation") and will generally not exceed 8.5% of total contributions. AXA Advisors, in turn, may pay a portion of the contribution-based compensation received from AXA Equitable on the sale of a contract to the AXA Advisors financial professional and/or Selling broker-dealer making the sale. In some instances, a financial professional or Selling broker-dealer may elect to receive reduced contribution-based compensation on a contract in combination with ongoing annual compensation of up to 0.60% of the account value of the contract sold ("asset-based compensation"). Total compensation paid to a financial professional or a Selling broker-dealer electing to 72 More information receive both contribution-based and asset-based compensation could over time exceed the total compensation that would otherwise be paid on the basis of contributions alone. The contribution-based and asset-based compensation paid by AXA Advisors varies among financial professionals and among Selling broker-dealers. Contribution-based compensation paid by AXA Equitable to AXA Distributors on sales of AXA Equitable contracts by its Selling broker-dealers will generally not exceed 6.5% of the total contributions made under the contracts. AXA Distributors, in turn, pays the contribution-based compensation it receives on the sale of a contract to the Selling broker-dealer making the sale. In some instances, the Selling broker-dealer may elect to receive reduced contribution-based compensation on the sale of a contract in combination with annual asset-based compensation of up to 0.60% of contract account value. If a Selling broker-dealer elects to receive reduced contribution-based compensation on a contract, the contribution-based compensation which AXA Equitable pays to AXA Distributors will be reduced by the same amount and AXA Equitable will pay AXA Distributors asset-based compensation on the contract equal to the asset-based compensation which AXA Distributors pays to the Selling broker-dealer. Total compensation paid to a Selling broker-dealer electing to receive both contribution-based and asset-based compensation could over time exceed the total compensation that would otherwise be paid on the basis of contributions alone. The contribution-based and asset-based compensation paid by AXA Distributors varies among Selling broker-dealers. AXA Distributors also receives compensation and reimbursement for its marketing services under the terms of its distribution agreement with AXA Equitable. The Distributors may pay certain affiliated and/or unaffiliated Selling broker-dealers and other financial intermediaries additional compensation in recognition of certain expenses that may be incurred by them or on their behalf. The Distributors may also pay certain broker-dealers or other financial intermediaries additional compensation for enhanced marketing opportunities and other services (commonly referred to as "marketing allowances"). Services for which such payments are made may include, but are not limited to, the preferred placement of AXA Equitable and/or EQUI-VEST(SM) on a company and/or product list; sales personnel training; product training; business reporting; technological support; due diligence and related costs; advertising, marketing and related services; conferences; and/or other support services, including some that may benefit the contract owner. Payments may be based on the amount of assets or purchase payments attributable to contracts sold through a Selling broker-dealer or such payments may be a fixed amount. The Distributors may also make fixed payments to Selling broker-dealers in connection with the initiation of a new relationship or the introduction of a new product. These payments may serve as an incentive for Selling broker-dealers to promote the sale of particular products. Additionally, as an incentive for financial professionals of Selling broker-dealers to promote the sale of AXA Equitable products, the Distributors may increase the sales compensation paid to the Selling broker-dealer for a period of time (commonly referred to as "compensation enhancements"). Marketing allowances and sales incentives are made out of the Distributors' assets. Not all Selling broker-dealers receive these kinds of payments. For more information about any such arrangements, ask your financial professional. The Distributors receive 12b-1 fees from certain portfolios for providing certain distribution and/or shareholder support services. The Distributors or their affiliates may also receive payments from the advisers of the portfolios or their affiliates to help defray expenses for sales meetings or seminar sponsorships that may relate to the contracts and/or the advisers' respective portfolios. In an effort to promote the sale of our products, AXA Advisors may provide its financial professionals and managerial personnel with a higher percentage of sales commissions and/or cash compensation for the sale of an affiliated variable product than it would the sale of an unaffiliated product. Such practice is known as providing "differential compensation." In addition, managerial personnel may receive expense reimbursements, marketing allowances and commission-based payments known as "overrides." Certain components of the compensation of financial professionals who are managers are based on the sale of affiliated variable products. Managers earn higher compensation (and credits toward awards and bonuses) if those they manage sell more affiliated variable products. AXA Advisors may provide other forms of compensation to its financial professionals, including health and retirement benefits. For tax reasons, AXA Advisors financial professionals qualify for health and retirement benefits based solely on their sales of our affiliated products. These payments and differential compensation (together, the "payments") can vary in amount based on the applicable product and/or entity or individual involved. As with any incentive, such payments may cause the financial professional to show preference in recommending the purchase or sale of AXA Equitable products. However, under applicable rules of FINRA, AXA Advisors may only recommend to you products that they reasonably believe are suitable for you based on facts that you have disclosed as to your other security holdings, financial situation and needs. In making any recommendation, financial professionals of AXA Advisors may nonetheless face conflicts of interest because of the differences in compensation from one product category to another, and because of differences in compensation between products in the same category. In addition, AXA Advisors may offer sales incentive programs to financial professionals who meet specified production levels for the sale of both affiliated and unaffiliated products which provide non-cash compensation such as stock options awards and/or stock appreciation rights, expense-paid trips, expense-paid educational seminars and merchandise. Although AXA Equitable takes all of its costs into account in establishing the level of fees and expenses in its products, any contribution-based and asset-based compensation paid by AXA Equitable to the Distributors will not result in any separate charge to you under your contract. All payments made will be in compliance with all applicable FINRA rules and other laws and regulations. More information 73 9. Incorporation of certain documents by reference - -------------------------------------------------------------------------------- AXA Equitable's Annual Report on Form 10-K for the period ended December 31, 2007 (the "Annual Report") is considered to be part of this Prospectus because it is incorporated by reference. AXA Equitable intends to send owners account statements and other such legally-required reports. AXA Equitable does not anticipate such reports will include periodic financial statements or information concerning AXA Equitable. AXA Equitable files reports and other information with the SEC, as required by law. You may read and copy this information at the SEC's public reference facilities at Room 1580, 100 F Street, NE, Washington, DC 20549, or by accessing the SEC's website at www.sec.gov. The public may obtain information on the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0330. Under the Securities Act of 1933, AXA Equitable has filed with the SEC a registration statement relating to the Market Value Adjustment (the "Registration Statement"). This prospectus has been filed as part of the Registration Statement and does not contain all of the information set forth in the Registration Statement. Please see the Registration Statement for additional information concerning the Market Value Adjustment. The Annual Report includes the audited consolidated financial statements of AXA Equitable at December 31, 2007 and 2006 and for each of the three years in the period ended December 31, 2007 (the "AXA Equitable Financial Statements"). The AXA Equitable Financial Statements are included in the Annual Report and incorporated by reference into this prospectus in reliance on the report of PricewaterhouseCoopers LLP, an independent registered public accounting firm. The AXA Equitable Financial Statements are also included in the Annual Report and incorporated by reference into this prospectus in reliance on the reports of KPMG LLP, an independent registered public accounting firm, on (i) the Consolidated Statements of Income, Changes in Partners' Capital and Comprehensive Income, and Cash Flows of AllianceBernstein L.P. and (ii) the Statements of Income, Changes in Partners' Capital and Comprehensive Income, and Cash Flows of AllianceBernstein Holding L.P. (together "AllianceBernstein", formerly "Alliance") for the year ended December 31, 2005. The reports are given on the authority of said firms as experts in auditing and accounting. KPMG LLP was AllianceBernstein's independent registered public accounting firm for the year ended December 31, 2005. On March 8, 2006, KPMG LLP was terminated, and PricewaterhouseCoopers LLP was appointed as AllianceBernstein's independent registered public accounting firm, as disclosed on AXA Equitable's Report on Form 8-K filed on March 13, 2006. AllianceBernstein Corporation, an indirect wholly owned subsidiary of AXA Equitable, is the general partner of both AllianceBernstein L.P. and AllianceBernstein Holding L.P. Any statement contained in a document that is or becomes part of this prospectus, will be considered changed or replaced for purposes of this prospectus if a statement contained in this prospectus changes or is replaced. Any statement that is considered to be a part of this prospectus because of its incorporation, will be considered changed or replaced for the purpose of this prospectus if a statement contained in any other subsequently filed document that is considered to be part of this prospectus changes or replaces that statement. After that, only the statement that is changed or replaced will be considered to be part of this prospectus. We file our Exchange Act documents and reports, including our annual report on Form 10-K and quarterly reports on Form 10-Q, electronically according to EDGAR under CIK No. 0000727920. The SEC maintains a website that contains reports, proxy and information statements and other information regarding registrants that file electronically with the SEC. The address of the site is www.sec.gov. Upon written or oral request, we will provide, free of charge, to each person to whom this prospectus is delivered a copy of any or all of the documents considered to be part of this prospectus because they are incorporated herein. This does not include exhibits not specifically incorporated by reference into the text of such documents. Requests for documents should be directed to AXA Equitable Life Insurance Company, 1290 Avenue of the Americas, New York, New York 10104. Attention: Corporate Secretary (telephone: (212) 554-1234). 74 Incorporation of certain documents by reference Appendix I: Original Contracts - -------------------------------------------------------------------------------- Original Contracts are EQUI-VEST(SM)contracts under which the contract owner has not elected to add any additional variable investment options when they first became available. SELECTING YOUR INVESTMENT METHOD. If you own an original contract, only the guaranteed interest option and the EQ/Money Market, AXA Moderate Allocation, EQ/AllianceBernstein Common Stock and Multimanager Aggressive Equity options are available. In most cases, you may request that we add additional variable investment options to your original contract. We reserve the right to deny your request. TRANSFERRING YOUR ACCOUNT VALUE. If you own an original contract, including original contract owners who elect to amend their contract by selecting maximum transfer flexibility, the EQ/Money Market option is always available. However, we will not permit transfers into the EQ/Money Market option from any other investment option. There will not be any other transfer limitations under your original contract. Appendix I: Original Contracts I-1 Appendix II: Condensed financial information - -------------------------------------------------------------------------------- The following tables show the accumulation unit values and the number of outstanding units for each variable investment option under each contract series at the last business day of the periods shown. The unit values and number of units outstanding are for contracts offered under Separate Account A with the same daily asset charge. The information presented is shown for the past ten years, or from the first year the particular contracts were offered if less than ten years ago.
SERIES 100 AND 200 CONTRACTS UNIT VALUES AND NUMBER OF UNITS OUTSTANDING FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007 (DAILY ASSET CHARGE OF 1.34% OR 1.40%, DEPENDING UPON INVESTMENT OPTION). - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------------ 1998 1999 2000 2001 2002 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Aggressive Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ AXA Conservative Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ AXA Conservative-Plus Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ AXA Moderate Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 45.07 $ 52.39 $ 51.10 $ 49.61 $ 42.91 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 24,361 22,434 20,413 19,822 23,382 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Moderate-Plus Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Common Stock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $323.75 $ 399.74 $ 339.28 $ 299.82 $ 197.84 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 17,231 16,705 15,685 14,197 11,899 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Intermediate Government Securities - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $126.48 $ 124.96 $ 134.60 $ 143.62 $ 154.25 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 314 360 309 587 915 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein International - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $117.72 $ 160.04 $ 121.54 $ 92.48 $ 82.20 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 971 926 1,028 945 5,013 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Large Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 116.36 $ 93.70 $ 70.28 $ 47.74 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 887 2,596 2,788 2,376 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Quality Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $130.07 $ 125.76 $ 138.33 $ 147.79 $ 157.39 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 557 622 566 899 950 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Small Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $118.57 $ 149.64 $ 168.29 $ 144.40 $ 99.61 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1,101 976 1,895 1,988 1,955 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit Value -- -- -- $ 94.39 $ 80.42 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- 1,544 1,981 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Ariel Appreciation II - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AXA Rosenberg Value Long/Short Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ----------------------------------------------------------------------------------------------------------------------------------- EQ/BlackRock Basic Value Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $127.97 $ 149.82 $ 165.28 $ 172.07 $ 141.48 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 444 617 634 1,044 1,282 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/BlackRock International Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 75.52 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 928 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------------ 2003 2004 2005 2006 2007 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Aggressive Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 109.15 $ 120.39 $ 128.35 $ 149.30 $ 156.38 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 8 50 122 364 741 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Conservative Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 102.15 $ 106.86 $ 108.01 $ 113.35 $ 118.31 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 6 36 59 91 231 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Conservative-Plus Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 104.14 $ 110.71 $ 112.78 $ 121.01 $ 125.94 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 5 44 112 222 406 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Moderate Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 50.77 $ 55.12 $ 57.47 $ 63.00 $ 66.55 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 21,629 20,412 19,656 18,359 17,845 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Moderate-Plus Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 107.96 $ 118.97 $ 125.20 $ 141.45 $ 148.46 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 18 185 491 1,337 2,455 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Common Stock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 292.96 $ 330.99 $ 341.80 $ 374.77 $ 384.25 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 11,092 10,291 9,393 8,175 6,992 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Intermediate Government Securities - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 155.83 $ 157.11 $ 157.33 $ 160.48 $ 169.61 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 788 674 613 532 504 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein International - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 109.83 $ 128.38 $ 146.39 $ 178.84 $ 197.62 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 4,603 4,372 4,333 4,232 4,096 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Large Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 58.02 $ 62.04 $ 70.34 $ 69.04 $ 77.63 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 2,212 1,966 1,822 1,671 1,480 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Quality Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 161.18 $ 165.40 $ 166.86 $ 171.37 $ 177.18 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 827 737 726 670 670 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Small Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 138.85 $ 156.54 $ 172.65 $ 186.13 $ 214.81 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1,959 1,885 1,791 1,655 1,500 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit Value $ 102.15 $ 114.33 $ 118.93 $ 142.44 $ 134.27 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 2,115 2,287 2,451 2,714 9,158 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Ariel Appreciation II - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 103.63 $ 113.65 $ 110.80 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 4 12 14 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AXA Rosenberg Value Long/Short Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 99.46 $ 101.69 $ 107.86 $ 107.96 $ 110.01 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 3 12 54 57 50 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/BlackRock Basic Value Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 183.13 $ 199.77 $ 202.92 $ 242.07 $ 241.63 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1,316 1,355 1,330 1,272 1,248 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/BlackRock International Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 95.40 $ 114.50 $ 125.21 $ 155.26 $ 168.78 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 946 1,010 1,260 1,505 1,600 - ------------------------------------------------------------------------------------------------------------------------------------
II-1 Appendix II: Condensed financial information
SERIES 100 AND 200 CONTRACTS (CONTINUED) UNIT VALUES AND NUMBER OF UNITS OUTSTANDING FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007 (DAILY ASSET CHARGE OF 1.34% OR 1.40%, DEPENDING UPON INVESTMENT OPTION). - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------------ 1998 1999 2000 2001 2002 - ---------------------------------------------------------------------------------------------------------------------------------- EQ/Boston Advisors Equity Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Calvert Socially Responsible - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 107.58 $ 103.06 $ 86.73 $ 62.93 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 4 15 33 57 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 53.85 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 19 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Research - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 106.78 $ 111.59 $ 107.86 $ 80.17 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 8 44 95 1,211 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Caywood-Scholl High Yield Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Davis New York Venture - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Equity 500 Index - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 271.24 $ 322.15 $ 287.40 $ 249.66 $ 191.65 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 3,805 4,579 4,346 4,083 3,648 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Evergreen International Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Evergreen Omega - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 106.57 $ 92.84 $ 76.01 $ 56.98 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 5 18 33 55 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/FI Mid Cap - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 99.98 $ 85.41 $ 68.70 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 86 420 738 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000|SFs) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Small Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000|SFs) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Templeton Founding Strategy - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000|SFs) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/GAMCO Mergers and Acquisitions - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/GAMCO Small Company Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/International Core PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 67.65 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 61 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/International Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/JPMorgan Core Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 107.03 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 207 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/JPMorgan Value Opportunities - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 128.20 $ 124.26 $ 131.45 $ 120.85 $ 96.50 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 581 648 521 532 484 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------------ 2003 2004 2005 2006 2007 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Boston Advisors Equity Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 106.97 $ 112.04 $ 128.19 $ 131.14 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 33 232 292 333 - ------------------------------------------------------------------------------------------------------------------------------------ Q/Calvert Socially Responsible - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 79.44 $ 81.19 $ 87.10 $ 90.43 $ 100.04 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 89 118 143 167 196 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 65.86 $ 68.57 $ 71.11 $ 75.35 $ 78.41 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 39 47 67 101 163 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Research - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 104.00 $ 113.80 $ 119.08 $ 131.65 $ 132.02 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1,179 1,112 1,015 923 1,410 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Caywood-Scholl High Yield Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 103.98 $ 110.75 $ 112.33 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 29 87 152 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Davis New York Venture - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 96.94 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 37 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Equity 500 Index - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 242.29 $ 264.16 $ 272.79 $ 310.53 $ 322.33 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 3,539 3,393 3,219 2,920 2,757 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Evergreen International Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 97.50 $ 99.48 $ 107.28 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 4 46 131 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Evergreen Omega - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 77.69 $ 82.05 $ 84.15 $ 87.90 $ 96.54 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 125 206 204 185 218 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/FI Mid Cap - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 97.34 $ 111.43 $ 116.94 $ 128.68 $ 137.14 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1,109 1,384 1,577 1,735 1,869 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 104.29 $ 105.01 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000|SFs) -- -- -- 90 570 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Small Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 108.22 $ 97.55 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000|SFs) -- -- -- 8 50 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Templeton Founding Strategy - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 95.16 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000|SFs) -- -- -- -- 176 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/GAMCO Mergers and Acquisitions - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 105.04 $ 116.29 $ 118.65 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 15 39 65 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/GAMCO Small Company Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 113.23 $ 116.54 $ 136.64 $ 147.33 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 37 251 362 647 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/International Core PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 88.51 $ 99.21 $ 114.65 $ 134.89 $ 153.33 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 175 316 437 534 576 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/International Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 115.00 $ 142.55 $ 163.42 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 13 67 165 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/JPMorgan Core Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 109.16 $ 112.11 $ 113.06 $ 116.08 $ 118.07 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 316 405 574 643 748 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/JPMorgan Value Opportunities - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 120.74 $ 132.08 $ 135.43 $ 160.85 $ 156.76 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 448 414 382 362 351 - -----------------------------------------------------------------------------------------------------------------------------------
Appendix II: Condensed financial information II-2
SERIES 100 AND 200 CONTRACTS (CONTINUED) UNIT VALUES AND NUMBER OF UNITS OUTSTANDING FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007 (DAILY ASSET CHARGE OF 1.34% OR 1.40%, DEPENDING UPON INVESTMENT OPTION). - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------------ 1998 1999 2000 2001 2002 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Large Cap Core PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 104.48 $ 102.37 $ 84.85 $ 66.13 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 18 68 87 118 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Large Cap Growth PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 161.04 $ 275.93 $ 220.97 $ 143.76 $ 93.15 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1,090 2,427 3,720 3,422 2,890 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Legg Mason Value Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Long Term Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Growth and Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Large Cap Core - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Mid Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Marsico Focus - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 105.89 $ 92.40 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 337 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Mid Cap Value PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 104.82 $ 105.28 $ 109.21 $ 112.05 $ 94.29 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 859 721 628 1,238 1,835 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Money Market - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 30.55 $ 31.63 $ 33.15 $ 33.96 $ 34.00 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1,261 1,516 1,458 1,796 1,816 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Montag & Caldwell Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Mutual Shares - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Global - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Opportunity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Small Cap - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/PIMCO Real Return - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Short Duration Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Small Company Index - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 81.53 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 72 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/T. Rowe Price Growth Stock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ----------------------------------------------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------------ 2003 2004 2005 2006 2007 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Large Cap Core PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 79.62 $ 87.51 $ 92.55 $ 103.13 $ 105.70 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 161 140 132 116 107 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Large Cap Growth PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 118.84 $ 132.05 $ 142.04 $ 151.04 $ 172.29 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 2,681 2,410 2,130 1,844 1,655 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Legg Mason Value Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 106.40 $ 112.16 $ 104.09 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 13 108 128 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Long Term Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 99.99 $ 100.45 $ 106.43 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 71 113 147 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Growth and Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 105.99 $ 122.57 $ 125.12 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 11 75 105 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Large Cap Core - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 105.62 $ 117.43 $ 128.22 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 13 25 38 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Mid Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 111.49 $ 123.66 $ 122.70 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 67 94 162 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Marsico Focus - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 119.55 $ 130.34 $ 142.37 $ 153.56 $ 172.77 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 779 948 1,217 1,548 1,770 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Mid Cap Value PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 123.98 $ 144.14 $ 158.32 $ 175.70 $ 170.56 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1,967 2,096 2,279 2,273 2,189 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Money Market - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 33.81 $ 33.69 $ 34.19 $ 35.33 $ 36.61 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1,322 1,193 1,383 2,018 2,683 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Montag & Caldwell Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 104.66 $ 108.84 $ 115.92 $ 138.16 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 17 23 87 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Mutual Shares - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 107.10 $ 107.40 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- 32 228 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Global - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 110.94 $ 115.70 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- 14 82 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Opportunity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 95.19 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 11 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Small Cap - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 110.99 $ 107.56 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- 9 51 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/PIMCO Real Return - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 99.35 $ 98.40 $ 108.22 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 82 167 270 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Short Duration Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 99.80 $ 102.36 $ 106.35 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 13 47 70 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Small Company Index - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 117.33 $ 136.22 $ 140.12 $ 162.73 $ 157.60 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 260 446 537 672 766 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/T. Rowe Price Growth Stock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 111.22 $ 114.11 $ 108.07 $ 114.32 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 6 36 43 530 - ------------------------------------------------------------------------------------------------------------------------------------
II-3 Appendix II: Condensed financial information
SERIES 100 AND 200 CONTRACTS (CONTINUED) UNIT VALUES AND NUMBER OF UNITS OUTSTANDING FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007 (DAILY ASSET CHARGE OF 1.34% OR 1.40%, DEPENDING UPON INVESTMENT OPTION). - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------------ 1998 1999 2000 2001 2002 EQ/Templeton Growth Unit value -- -- -- -- -- Number of units outstanding (000's) -- -- -- -- -- EQ/UBS Growth and Income Unit value -- -- -- -- -- Number of units outstanding (000's) -- -- -- -- -- EQ/Van Kampen Comstock Unit value -- -- -- -- -- Number of units outstanding (000's) -- -- -- -- -- EQ/Van Kampen Emerging Markets Equity Unit value $ 57.18 $ 110.43 $ 65.32 $ 61.12 $ 56.74 Number of units outstanding (000's) 217 590 926 850 895 EQ/Van Kampen Mid Cap Growth Unit value -- -- -- -- -- Number of units outstanding (000's) -- -- -- -- -- EQ/Van Kampen Real Estate Unit value -- -- -- -- -- Number of units outstanding (000's) -- -- -- -- -- Multimanager Aggressive Equity Unit value $ 89.92 $ 105.59 $ 90.70 $ 67.13 $ 47.48 Number of units outstanding (000's) 25,634 20,946 18,138 16,058 13,832 Multimanager Core Bond Unit value -- -- -- -- $ 106.73 Number of units outstanding (000's) -- -- -- -- 264 Multimanager Health Care Unit value -- -- -- -- $ 78.98 Number of units outstanding (000's) -- -- -- -- 101 Multimanager High Yield Unit value $150.42 $ 143.43 $ 129.28 $ 128.74 $ 123.58 Number of units outstanding (000's) 1,164 998 800 770 696 Multimanager International Equity Unit value -- -- -- -- $ 78.07 Number of units outstanding (000's) -- -- -- -- 82 Multimanager Large Cap Core Equity Unit value -- -- -- -- $ 76.43 Number of units outstanding (000's) -- -- -- -- 91 Multimanager Large Cap Growth Unit value -- -- -- -- $ 67.87 Number of units outstanding (000's) -- -- -- -- 138 Multimanager Large Cap Value Unit value -- -- -- -- $ 79.08 Number of units outstanding (000's) -- -- -- -- 127 Multimanager Mid Cap Growth Unit value -- -- -- -- $ 62.00 Number of units outstanding (000's) -- -- -- -- 211 Multimanager Mid Cap Value Unit value -- -- -- -- $ 73.70 Number of units outstanding (000's) -- -- -- -- 214 Multimanager Small Cap Growth Unit value -- -- -- -- -- Number of units outstanding (000's) -- -- -- -- -- Multimanager Small Cap Value Unit value -- -- -- -- $ 112.38 Number of units outstanding (000's) -- -- -- -- 239 Multimanager Technology Unit value -- -- -- -- $ 56.63 Number of units outstanding (000's) -- -- -- -- 53 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------------ 2003 2004 2005 2006 2007 EQ/Templeton Growth Unit value -- -- -- $ 107.58 $ 108.35 Number of units outstanding (000's) -- -- -- 30 188 EQ/UBS Growth and Income Unit value -- $ 109.24 $ 117.48 $ 132.31 $ 132.06 Number of units outstanding (000's) -- 1 41 94 127 EQ/Van Kampen Comstock Unit value -- -- $ 104.29 $ 119.26 $ 114.71 Number of units outstanding (000's) -- -- 47 110 144 EQ/Van Kampen Emerging Markets Equity Unit value $ 87.28 $ 106.51 $ 139.53 $ 188.68 $ 264.35 Number of units outstanding (000's) 949 1,084 1,420 1,693 1,843 EQ/Van Kampen Mid Cap Growth Unit value -- -- $ 123.74 $ 133.39 $ 161.09 Number of units outstanding (000's) -- -- 32 93 226 EQ/Van Kampen Real Estate Unit value -- -- -- -- $ 82.87 Number of units outstanding (000's) -- -- -- -- 1,184 Multimanager Aggressive Equity Unit value $ 64.75 $ 72.04 $ 77.39 $ 80.76 $ 89.29 Number of units outstanding (000's) 12,726 11,587 10,645 9,157 7,790 Multimanager Core Bond Unit value $ 109.24 $ 111.97 $ 112.40 $ 115.08 $ 120.64 Number of units outstanding (000's) 311 348 375 370 371 Multimanager Health Care Unit value $ 99.85 $ 110.46 $ 116.57 $ 120.91 $ 129.98 Number of units outstanding (000's) 182 238 274 291 297 Multimanager High Yield Unit value $ 149.82 $ 161.02 $ 164.14 $ 178.48 $ 182.06 Number of units outstanding (000's) 769 761 768 737 723 Multimanager International Equity Unit value $ 103.47 $ 120.36 $ 137.09 $ 169.50 $ 188.01 Number of units outstanding (000's) 150 268 321 430 461 Multimanager Large Cap Core Equity Unit value $ 96.62 $ 104.55 $ 110.09 $ 123.37 $ 127.80 Number of units outstanding (000's) 122 129 128 120 130 Multimanager Large Cap Growth Unit value $ 87.47 $ 92.04 $ 97.62 $ 96.42 $ 105.82 Number of units outstanding (000's) 219 256 267 257 266 Multimanager Large Cap Value Unit value $ 102.28 $ 115.47 $ 122.01 $ 143.64 $ 146.86 Number of units outstanding (000's) 163 203 263 308 335 Multimanager Mid Cap Growth Unit value $ 85.78 $ 94.55 $ 101.11 $ 109.36 $ 120.73 Number of units outstanding (000's) 417 530 556 547 536 Multimanager Mid Cap Value Unit value $ 102.24 $ 116.19 $ 123.06 $ 139.29 $ 137.54 Number of units outstanding (000's) 334 425 390 391 368 Multimanager Small Cap Growth Unit value -- $ 114.58 $ 121.52 $ 132.13 $ 135.15 Number of units outstanding (000's) -- 3 80 216 308 Multimanager Small Cap Value Unit value $ 152.31 $ 175.98 $ 181.76 $ 208.22 $ 185.20 Number of units outstanding (000's) 434 617 739 794 725 Multimanager Technology Unit value $ 88.08 $ 91.24 $ 100.16 $ 106.03 $ 123.67 Number of units outstanding (000's) 211 989 901 838 823 - ------------------------------------------------------------------------------------------------------------------------------------
Appendix II: Condensed financial information II-4
SERIES 100 AND 200 CONTRACTS (CONTINUED) UNIT VALUES AND NUMBER OF UNITS OUTSTANDING FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007 (DAILY ASSET CHARGE OF 1.34% OR 1.40%, DEPENDING UPON INVESTMENT OPTION). - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------------ 1998 1999 2000 2001 2002 - ------------------------------------------------------------------------------------------------------------------------------------ Target 2015 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Target 2025 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Target 2035 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Target 2045 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------------ 2003 2004 2005 2006 2007 - ------------------------------------------------------------------------------------------------------------------------------------ Target 2015 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 108.32 $ 114.60 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- 11 60 - ------------------------------------------------------------------------------------------------------------------------------------ Target 2025 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 109.27 $ 115.74 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- 7 61 - ------------------------------------------------------------------------------------------------------------------------------------ Target 2035 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 110.16 $ 116.71 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- 4 29 - ------------------------------------------------------------------------------------------------------------------------------------ Target 2045 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 110.95 $ 118.00 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- 3 23 - ------------------------------------------------------------------------------------------------------------------------------------
II-5 Appendix II: Condensed financial information
SERIES 300 AND 400 CONTRACTS UNIT VALUES AND NUMBER OF UNITS OUTSTANDING FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007 (DAILY ASSET CHARGE OF 1.34% OR 1.35% DEPENDING UPON THE INVESTMENT OPTION). - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------------ 1998 1999 2000 2001 2002 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Aggressive Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ AXA Conservative Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ AXA Conservative-Plus Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ AXA Moderate Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 157.63 $ 183.18 $ 178.32 $ 172.66 $ 149.01 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 752 854 846 1,334 2,689 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Moderate-Plus Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Common Stock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 252.88 $ 312.31 $ 264.88 $ 233.80 $ 154.15 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 5,808 6,502 6,233 5,579 4,418 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Intermediate Government Securities - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 126.48 $ 124.96 $ 134.60 $ 143.62 $ 154.25 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 314 360 309 587 915 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein International - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 117.72 $ 160.04 $ 121.54 $ 92.48 $ 82.20 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 971 926 1,028 945 5,013 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Large Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 116.36 $ 93.70 $ 70.28 $ 47.74 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 887 2,596 2,788 2,376 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Quality Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 130.07 $ 125.76 $ 138.33 $ 147.79 $ 157.39 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 557 622 566 899 950 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Small Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 118.57 $ 149.64 $ 168.29 $ 144.40 $ 99.61 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1,101 976 1,895 1,988 1,955 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 94.39 $ 80.42 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- 1,544 1,981 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Ariel Appreciation II - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AXA Rosenberg Value Long/Short Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/BlackRock Basic Value Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 127.67 $ 149.82 $ 165.28 $ 172.07 $ 141.48 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 444 617 634 1,044 1,282 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/BlackRock International Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 75.52 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 928 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Boston Advisors Equity Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Calvert Socially Responsible - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 107.58 $ 103.06 $ 86.73 $ 62.93 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 4 15 33 57 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 53.85 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 19 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------------ 2003 2004 2005 2006 2007 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Aggressive Allocation Unit value $ 109.15 $ 120.39 $ 128.35 $ 149.30 $ 156.38 Number of units outstanding (000's) 8 50 122 364 741 AXA Conservative Allocation Unit value $ 102.15 $ 106.86 $ 108.01 $ 113.35 $ 118.31 Number of units outstanding (000's) 6 36 59 91 231 AXA Conservative-Plus Allocation Unit value $ 104.14 $ 110.71 $ 112.78 $ 121.01 $ 125.94 Number of units outstanding (000's) 5 44 112 222 406 AXA Moderate Allocation Unit value $ 175.55 $ 188.77 $ 195.64 $ 213.45 $ 224.33 Number of units outstanding (000's) 2,378 2,153 1,902 1,696 1,605 AXA Moderate-Plus Allocation Unit value $ 107.96 $ 118.97 $ 125.20 $ 141.45 $ 148.46 Number of units outstanding (000's) 18 185 491 1,337 2,455 EQ/AllianceBernstein Common Stock Unit value $ 227.99 $ 257.31 $ 265.43 $ 290.56 $ 297.34 Number of units outstanding (000's) 4,024 3,627 3,126 2,645 2,259 EQ/AllianceBernstein Intermediate Government Securities Unit value $ 155.83 $ 157.11 $ 157.33 $ 160.48 $ 169.61 Number of units outstanding (000's) 818 674 613 532 504 EQ/AllianceBernstein International Unit value $ 109.83 $ 128.38 $ 146.39 $ 178.84 $ 197.62 Number of units outstanding (000's) 4,796 4,372 4,333 4,232 4,096 EQ/AllianceBernstein Large Cap Growth Unit value $ 58.02 $ 62.04 $ 70.34 $ 69.04 $ 77.63 Number of units outstanding (000's) 2,254 1,966 1,822 1,671 1,480 EQ/AllianceBernstein Quality Bond Unit value $ 161.18 $ 165.40 $ 166.86 $ 171.37 $ 177.18 Number of units outstanding (000's) 851 737 726 670 670 EQ/AllianceBernstein Small Cap Growth Unit value $ 138.85 $ 156.54 $ 172.65 $ 186.13 $ 214.81 Number of units outstanding (000's) 2,016 1,885 1,791 1,655 1,500 EQ/AllianceBernstein Value Unit value $ 102.15 $ 114.33 $ 118.93 $ 142.44 $ 134.27 Number of units outstanding (000's) 2,153 2,287 2,451 2,714 9,158 EQ/Ariel Appreciation II Unit value -- -- $ 103.63 $ 113.65 $ 110.80 Number of units outstanding (000's) -- -- 4 12 14 EQ/AXA Rosenberg Value Long/Short Equity Unit value $ 99.46 $ 101.69 $ 107.86 $ 107.96 $ 110.01 Number of units outstanding (000's) 3 12 54 57 50 EQ/BlackRock Basic Value Equity Unit value $ 183.13 $ 199.77 $ 202.92 $ 242.07 $ 241.63 Number of units outstanding (000's) 1,337 1,355 1,330 1,272 1,248 EQ/BlackRock International Value Unit value $ 95.40 $ 114.50 $ 125.21 $ 155.26 $ 168.78 Number of units outstanding (000's) 970 1,010 1,260 1,505 1,600 EQ/Boston Advisors Equity Income Unit value -- $ 106.97 $ 112.04 $ 128.19 $ 131.14 Number of units outstanding (000's) -- 33 232 292 333 EQ/Calvert Socially Responsible Unit value $ 79.44 $ 81.19 $ 87.10 $ 90.43 $ 100.04 Number of units outstanding (000's) 89 118 143 167 196 EQ/Capital Guardian Growth Unit value $ 65.86 $ 68.57 $ 71.11 $ 75.35 $ 78.41 Number of units outstanding (000's) 41 47 67 101 163 - ------------------------------------------------------------------------------------------------------------------------------------
Appendix II: Condensed financial information II-6
SERIES 300 AND 400 CONTRACTS (CONTINUED) UNIT VALUES AND NUMBER OF UNITS OUTSTANDING FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007 (DAILY ASSET CHARGE OF 1.34% OR 1.35% DEPENDING UPON THE INVESTMENT OPTION). - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------------ 1998 1999 2000 2001 2002 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Research Unit value -- $ 106.78 $ 111.59 $ 107.86 $ 80.17 Number of units outstanding (000's) -- 8 44 95 1,211 EQ/Caywood-Scholl High Yield Bond Unit value -- -- -- -- -- Number of units outstanding (000's) -- -- -- -- -- EQ/Davis New York Venture Unit value -- -- -- -- -- Number of units outstanding (000's) -- -- -- -- -- EQ/Equity 500 Index Unit value $ 271.24 $ 322.15 $ 287.40 $ 249.66 $ 191.65 Number of units outstanding (000's) 3,805 4,579 4,346 4,083 3,648 EQ/Evergreen International Bond Unit value -- -- -- -- -- Number of units outstanding (000's) -- -- -- -- -- EQ/Evergreen Omega Unit value -- $ 106.57 $ 92.84 $ 76.01 $ 56.98 Number of units outstanding (000's) -- 5 18 33 55 EQ/FI Mid Cap Unit value -- -- $ 99.98 $ 85.41 $ 68.70 Number of units outstanding (000's) -- -- 86 420 738 EQ/Franklin Income Unit value -- -- -- -- -- Number of units outstanding (000|SFs) -- -- -- -- -- EQ/Franklin Small Cap Value Unit value -- -- -- -- -- Number of units outstanding (000|SFs) -- -- -- -- -- EQ/Franklin Templeton Founding Strategy Unit value -- -- -- -- -- Number of units outstanding (000|SFs) -- -- -- -- -- EQ/GAMCO Mergers and Acquisitions Unit value -- -- -- -- -- Number of units outstanding (000's) -- -- -- -- -- EQ/GAMCO Small Company Value Unit value -- -- -- -- -- Number of units outstanding (000's) -- -- -- -- -- EQ/International Core PLUS Unit value -- -- -- -- $ 67.65 Number of units outstanding (000's) -- -- -- -- 61 EQ/International Growth Unit value -- -- -- -- -- Number of units outstanding (000's) -- -- -- -- -- EQ/JPMorgan Core Bond Unit value -- -- -- -- $ 107.03 Number of units outstanding (000's) -- -- -- -- 207 EQ/JPMorgan Value Opportunities Unit value $ 128.20 $ 124.76 $ 131.45 $ 120.85 $ 96.50 Number of units outstanding (000's) 581 648 521 532 484 EQ/Large Cap Core PLUS Unit value -- $ 104.48 $ 102.37 $ 84.85 $ 66.13 Number of units outstanding (000's) -- 18 68 87 118 EQ/Large Cap Growth PLUS Unit value $ 161.04 $ 275.93 $ 220.97 $ 143.76 $ 93.15 Number of units outstanding (000's) 1,090 2,427 3,720 3,422 2,890 EQ/Legg Mason Value Equity Unit value -- -- -- -- -- Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------------ 2003 2004 2005 2006 2007 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Research - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 104.00 $ 113.80 $ 119.08 $ 131.65 $ 132.02 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1,200 1,112 1,015 923 1,410 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Caywood-Scholl High Yield Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 103.98 $ 110.75 $ 112.33 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 29 87 152 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Davis New York Venture - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 96.94 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 37 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Equity 500 Index - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 242.29 $ 264.16 $ 272.79 $ 310.53 $ 322.33 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 3,658 3,393 3,219 2,920 2,757 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Evergreen International Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 97.50 $ 99.48 $ 107.28 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 4 46 131 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Evergreen Omega - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 77.69 $ 82.05 $ 84.15 $ 87.90 $ 96.54 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 127 206 204 185 218 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/FI Mid Cap - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 97.34 $ 111.43 $ 116.94 $ 128.68 $ 137.14 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1,117 1,384 1,577 1,735 1,869 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 104.29 $ 105.01 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000|SFs) -- -- -- 90 570 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Small Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 108.22 $ 97.55 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000|SFs) -- -- -- 8 50 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Templeton Founding Strategy - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 95.16 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000|SFs) -- -- -- -- 176 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/GAMCO Mergers and Acquisitions - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 105.04 $ 116.29 $ 118.65 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 15 39 65 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/GAMCO Small Company Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 113.23 $ 116.54 $ 136.64 $ 147.33 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 37 251 362 647 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/International Core PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 88.51 $ 99.21 $ 114.65 $ 134.89 $ 153.33 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 177 316 437 534 576 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/International Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 115.00 $ 142.55 $ 163.42 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 13 67 165 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/JPMorgan Core Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 109.16 $ 112.11 $ 113.06 $ 116.08 $ 118.07 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 318 405 574 643 748 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/JPMorgan Value Opportunities - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 120.74 $ 132.08 $ 135.43 $ 160.85 $ 156.76 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 454 414 382 362 351 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Large Cap Core PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 79.62 $ 87.51 $ 92.55 $ 103.13 $ 105.70 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 162 140 132 116 107 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Large Cap Growth PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 118.84 $ 132.05 $ 142.04 $ 151.04 $ 172.29 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 2,741 2,410 2,130 1,844 1,655 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Legg Mason Value Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 106.40 $ 112.16 $ 104.09 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 13 108 128 - ------------------------------------------------------------------------------------------------------------------------------------
II-7 Appendix II: Condensed financial information
SERIES 300 AND 400 CONTRACTS (CONTINUED) UNIT VALUES AND NUMBER OF UNITS OUTSTANDING FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007 (DAILY ASSET CHARGE OF 1.34% OR 1.35% DEPENDING UPON THE INVESTMENT OPTION). - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------------ 1998 1999 2000 2001 2002 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Long Term Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Growth and Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Large Cap Core - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Mid Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Marsico Focus - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 105.89 $ 92.41 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 337 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Mid Cap Value PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 104.82 $ 105.28 $ 109.21 $ 112.05 $ 94.29 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 859 721 628 1,238 1,835 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Money Market - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 120.19 $ 124.47 $ 130.47 $ 133.66 $ 133.83 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 262 360 297 395 342 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Montag & Caldwell Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Mutual Shares - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Global - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Opportunity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Small Cap - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/PIMCO Real Return - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Short Duration Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Small Company Index - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 81.53 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 72 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/T. Rowe Price Growth Stock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Templeton Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/UBS Growth and Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Comstock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------------ 2003 2004 2005 2006 2007 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Long Term Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 99.99 $ 100.45 $ 106.43 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 71 113 147 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Growth and Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 105.99 $ 122.57 $ 125.12 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 11 75 105 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Large Cap Core - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 105.62 $ 117.43 $ 128.22 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 13 25 38 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Mid Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 111.49 $ 123.66 $ 122.70 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 67 94 162 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Marsico Focus - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 119.55 $ 130.34 $ 142.37 $ 153.56 $ 172.77 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 790 948 1,217 1,548 1,770 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Mid Cap Value PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 123.98 $ 144.14 $ 158.32 $ 175.70 $ 170.56 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 2,002 2,096 2,279 2,273 2,189 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Money Market - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 133.10 $ 132.67 $ 135.29 $ 139.78 $ 144.74 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 231 186 63 56 54 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Montag & Caldwell Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 104.66 $ 108.84 $ 115.92 $ 138.16 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 17 23 87 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Mutual Shares - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 107.10 $ 107.40 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- 32 228 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Global - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 110.94 $ 115.70 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- 14 82 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Opportunity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 95.19 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 11 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Small Cap - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 110.99 $ 107.56 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- 9 51 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/PIMCO Real Return - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 99.35 $ 98.40 $ 108.22 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 82 167 270 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Short Duration Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 99.80 $ 102.36 $ 106.35 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 13 47 70 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Small Company Index - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 117.33 $ 136.22 $ 140.12 $ 162.73 $ 157.60 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 261 446 537 672 766 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/T. Rowe Price Growth Stock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 111.22 $ 114.11 $ 108.07 $ 114.32 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 6 36 43 530 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Templeton Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 107.58 $ 108.35 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- 30 188 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/UBS Growth and Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 109.24 $ 117.48 $ 132.31 $ 132.06 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 41 92 127 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Comstock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 104.29 $ 119.26 $ 114.71 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 47 110 144 - ------------------------------------------------------------------------------------------------------------------------------------
Appendix II: Condensed financial information II-8
SERIES 300 AND 400 CONTRACTS (CONTINUED) UNIT VALUES AND NUMBER OF UNITS OUTSTANDING FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007 (DAILY ASSET CHARGE OF 1.34% OR 1.35% DEPENDING UPON THE INVESTMENT OPTION). - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------------ 1998 1999 2000 2001 2002 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Emerging Markets Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 57.18 $ 110.43 $ 65.32 $ 61.12 $ 56.74 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 217 590 926 850 895 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Mid Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Real Estate - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Aggressive Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $161.59 $ 189.44 $ 162.34 $ 120.13 $ 84.51 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 3,342 2,980 2,607 2,242 1,841 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Core Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 106.73 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 264 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Health Care - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 78.98 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 101 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager High Yield - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $150.42 $ 143.43 $ 129.28 $ 128.74 $ 123.58 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1,164 998 800 770 696 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager International Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 78.07 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 82 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Core Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 76.43 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 91 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 67.87 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 138 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 79.08 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 127 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Mid Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 62.00 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 211 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Mid Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 73.70 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 214 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Small Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Small Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 112.38 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 239 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Technology - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 56.63 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 53 - ------------------------------------------------------------------------------------------------------------------------------------ Target 2015 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Target 2025 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Target 2035 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------------ 2003 2004 2005 2006 2007 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Emerging Markets Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 87.28 $ 106.51 $ 139.53 $ 188.68 $ 264.35 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 971 1,084 1,420 1,693 1,843 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Mid Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 123.74 $ 133.39 $ 161.09 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 32 93 226 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Real Estate - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 82.87 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 1,184 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Aggressive Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 114.95 $ 127.42 $ 136.36 $ 141.76 $ 156.14 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1,636 1,467 1,285 1,113 954 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Core Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 109.24 $ 111.97 $ 112.40 $ 115.08 $ 120.64 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 316 348 375 370 371 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Health Care - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 99.85 $ 110.46 $ 116.57 $ 120.91 $ 129.98 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 185 238 274 291 297 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager High Yield - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 149.82 $ 161.02 $ 164.14 $ 178.48 $ 182.06 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 798 761 768 737 723 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager International Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 103.47 $ 120.36 $ 137.09 $ 169.50 $ 188.01 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 152 268 321 430 461 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Core Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 96.62 $ 104.55 $ 110.09 $ 123.37 $ 127.80 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 123 129 128 120 130 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 87.47 $ 92.04 $ 97.62 $ 96.42 $ 105.82 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 221 256 267 257 266 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 102.28 $ 115.47 $ 122.01 $ 143.64 $ 146.86 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 165 203 263 308 335 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Mid Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 85.78 $ 94.55 $ 101.11 $ 109.36 $ 120.73 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 421 530 556 547 536 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Mid Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 102.24 $ 116.19 $ 123.06 $ 139.29 $ 137.54 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 337 425 390 391 368 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Small Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 114.58 $ 121.52 $ 132.13 $ 135.15 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 3 80 216 308 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Small Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 152.31 $ 175.98 $ 181.76 $ 208.22 $ 185.20 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 445 617 739 794 725 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Technology - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 88.08 $ 91.24 $ 100.16 $ 106.03 $ 123.67 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 212 989 901 838 823 - ------------------------------------------------------------------------------------------------------------------------------------ Target 2015 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 108.32 $ 114.60 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- 11 60 - ------------------------------------------------------------------------------------------------------------------------------------ Target 2025 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 109.27 $ 115.74 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- 7 61 - ------------------------------------------------------------------------------------------------------------------------------------ Target 2035 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 110.16 $ 116.71 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- 4 29 - ------------------------------------------------------------------------------------------------------------------------------------
II-9 Appendix II: Condensed financial information
SERIES 300 AND 400 CONTRACTS (CONTINUED) UNIT VALUES AND NUMBER OF UNITS OUTSTANDING FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007 (DAILY ASSET CHARGE OF 1.34% OR 1.35% DEPENDING UPON THE INVESTMENT OPTION). - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------------ 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 - ------------------------------------------------------------------------------------------------------------------------------------ Target 2045 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- -- -- -- $ 110.95 $ 118.00 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- -- -- 3 23 - ------------------------------------------------------------------------------------------------------------------------------------
Appendix II: Condensed financial information II-10
SERIES 500 CONTRACTS UNIT VALUES AND NUMBER OF UNITS OUTSTANDING FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007 (DAILY ASSET CHARGE OF 1.45%). - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------------ 1998 1999 2000 2001 2002 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Aggressive Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ AXA Conservative Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ AXA Conservative-Plus Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ AXA Moderate Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 102.39 $ 118.86 $ 115.59 $ 111.81 $ 96.40 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 2 2 4 6 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Moderate-Plus Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Common Stock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 102.87 $ 126.91 $ 107.53 $ 94.82 $ 62.45 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 5 19 24 27 27 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Intermediate Government Securities - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 103.22 $ 101.96 $ 109.70 $ 116.92 $ 125.44 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein International - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 93.00 $ 126.29 $ 95.81 $ 72.82 $ 64.65 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 1 1 4 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Large Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 116.32 $ 93.56 $ 70.10 $ 47.56 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 1 2 2 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Quality Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 103.62 $ 100.08 $ 109.96 $ 117.34 $ 124.83 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Small Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 86.93 $ 109.59 $ 123.11 $ 105.52 $ 72.71 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 1 2 -- 3 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 100.70 $ 85.70 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- 1 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Ariel Appreciation II - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AXA Rosenberg Value Long/Short Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/BlackRock Basic Value Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 97.80 $ 114.64 $ 126.32 $ 131.37 $ 107.89 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 1 2 2 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/BlackRock International Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 82.38 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Boston Advisors Equity Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Calvert Socially Responsible - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 81.26 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 72.13 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------------ 2003 2004 2005 2006 2007 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Aggressive Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 109.12 $ 120.22 $ 128.03 $ 148.76 $ 155,64 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ AXA Conservative Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 102.13 $ 106.71 $ 107.73 $ 112.94 $ 117.75 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ AXA Conservative-Plus Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 104.11 $ 110.56 $ 112.49 $ 120.58 $ 125.34 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ AXA Moderate Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 113.45 $ 121.87 $ 126.17 $ 137.52 $ 144.38 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 6 6 5 4 4 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Moderate-Plus Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 107.93 $ 118.80 $ 124.89 $ 140.94 $ 147.76 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- 1 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Common Stock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 92.27 $ 104.03 $ 107.21 $ 117.24 $ 119.86 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 29 30 29 26 25 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Intermediate Government Securities - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 126.58 $ 127.48 $ 127.51 $ 129.92 $ 137.16 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 1 -- -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein International - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 86.29 $ 100.74 $ 114.75 $ 140.03 $ 154.56 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 4 4 4 4 4 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Large Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 57.74 $ 61.67 $ 69.86 $ 68.47 $ 76.91 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 2 2 2 2 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Quality Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 127.69 $ 130.89 $ 131.90 $ 135.31 $ 139.74 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Small Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 101.24 $ 114.00 $ 125.60 $ 135.25 $ 155.92 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 3 2 2 2 2 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 108.74 $ 121.57 $ 126.32 $ 151.12 $ 142.29 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 2 1 2 8 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Ariel Appreciation II - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 103.60 $ 113.50 $ 110.53 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AXA Rosenberg Value Long/Short Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 99.43 $ 101.55 $ 107.59 $ 107.57 $ 109.49 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/BlackRock Basic Value Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 139.50 $ 152.01 $ 154.23 $ 183.78 $ 183.24 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 2 2 2 2 2 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/BlackRock International Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 103.95 $ 124.61 $ 136.12 $ 168.61 $ 183.08 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 1 1 1 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Boston Advisors Equity Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 106.95 $ 111.88 $ 127.87 $ 130.66 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Calvert Socially Responsible - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 102.46 $ 104.60 $ 112.09 $ 116.25 $ 128.45 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 88.12 $ 91.64 $ 94.93 $ 100.48 $ 104.44 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - -----------------------------------------------------------------------------------------------------------------------------------
II-11 Appendix II: Condensed financial information
SERIES 500 CONTRACTS (CONTINUED) UNIT VALUES AND NUMBER OF UNITS OUTSTANDING FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007 (DAILY ASSET CHARGE OF 1.45%). - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------------ 1998 1999 2000 2001 2002 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Research - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 106.74 $ 111.42 $ 107.58 $ 79.87 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 3 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Caywood-Scholl High Yield Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Davis New York Venture - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Equity 500 Index - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 103.68 $ 123.01 $ 109.62 $ 95.12 $ 72.93 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 2 9 10 11 12 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Evergreen International Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Evergreen Omega - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 106.53 $ 93.33 $ 75.81 $ 56.76 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/FI Mid Cap - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 99.95 $ 85.28 $ 68.53 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- 13 -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000|SFs) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Small Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000|SFs) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Templeton Founding Strategy - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000|SFs) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/GAMCO Mergers and Acquisitions - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/GAMCO Small Company Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/International Core PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 83.76 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/International Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/JPMorgan Core Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 106.90 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/JPMorgan Value Opportunities - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 100.48 $ 97.68 $ 102.80 $ 94.40 $ 75.30 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 1 2 2 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Large Cap Core PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 104.44 $ 102.22 $ 84.63 $ 65.88 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Large Cap Growth PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 103.41 $ 177.00 $ 141.58 $ 92.01 $ 59.55 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 6 9 9 9 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Legg Mason Value Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------------ 2003 2004 2005 2006 2007 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Research - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 103.50 $ 113.12 $ 118.23 $ 130.57 $ 130.80 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 3 3 3 2 3 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Caywood-Scholl High Yield Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 103.90 $ 110.55 $ 112.00 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Davis New York Venture - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 96.87 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Equity 500 Index - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 92.10 $ 100.31 $ 103.47 $ 117.65 $ 121.98 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 12 13 12 11 10 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Evergreen International Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 97.47 $ 99.34 $ 107.01 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Evergreen Omega - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 77.31 $ 81.56 $ 83.56 $ 87.18 $ 95.65 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/FI Mid Cap - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 96.98 $ 110.90 $ 116.25 $ 127.77 $ 136.02 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 1 1 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 104.26 $ 104.85 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000|SFs) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Small Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 108.18 $ 97.41 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000|SFs) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Templeton Founding Strategy - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 95.10 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000|SFs) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/GAMCO Mergers and Acquisitions - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 104.97 $ 116.08 $ 118.30 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/GAMCO Small Company Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 113.20 $ 116.38 $ 136.30 $ 146.80 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/International Core PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 109.47 $ 122.57 $ 141.49 $ 166.28 $ 188.80 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/International Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- 114.91 $ 142.29 $ 162.94 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/JPMorgan Core Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 108.90 $ 111.72 $ 112.55 $ 115.42 $ 117.27 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- 1 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/JPMorgan Value Opportunities - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 94.11 $ 102.84 $ 105.33 $ 124.95 $ 121.64 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 2 2 1 1 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Large Cap Core PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 79.23 $ 86.99 $ 91.89 $ 102.29 $ 104.71 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Large Cap Growth PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 75.89 $ 84.23 $ 90.50 $ 96.13 $ 109.53 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 9 9 9 8 7 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Legg Mason Value Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 106.38 $ 112.00 $ 103.83 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------
Appendix II: Condensed financial information II-12
SERIES 500 CONTRACTS (CONTINUED) UNIT VALUES AND NUMBER OF UNITS OUTSTANDING FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007 (DAILY ASSET CHARGE OF 1.45%). - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------------ 1998 1999 2000 2001 2002 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Long Term Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Growth and Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Large Cap Core - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Mid Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Marsico Focus - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 105.94 $ 92.27 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Mid Cap Value PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 82.78 $ 83.05 $ 86.06 $ 88.20 $ 74.14 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 1 1 2 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Money Market - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $101.68 $ 105.20 $ 110.16 $ 112.74 $ 112.77 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Montag & Caldwell Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Mutual Shares - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Global - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Opportunity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Small Cap - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/PIMCO Real Return - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Short Duration Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Small Company Index - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 81.43 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/T. Rowe Price Growth Stock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Templeton Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/UBS Growth and Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Comstock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------------ 2003 2004 2005 2006 2007 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Long Term Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 99.92 $ 100.27 $ 106.12 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Growth and Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 105.91 $ 122.34 $ 124.75 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Large Cap Core - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 91.36 $ 117.21 $ 127.84 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Mid Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 111.40 $ 123.44 $ 122.34 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Marsico Focus - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 119.25 $ 129.87 $ 141.69 $ 152.66 $ 171.57 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- 1 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Mid Cap Value PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 97.37 $ 113.08 $ 124.06 $ 137.53 $ 133.36 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 2 2 2 2 2 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Money Market - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 112.04 $ 111.55 $ 113.11 $ 116.74 $ 120.77 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Montag & Caldwell Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 104.63 $ 108.69 $ 115.63 $ 137.67 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Mutual Shares - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 107.10 $ 107.25 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Global - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 110.91 $ 115.53 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Opportunity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 95.12 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Small Cap - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 110.95 $ 107.40 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/PIMCO Real Return - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 99.28 $ 98.22 $ 107.90 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Short Duration Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 99.72 $ 102.17 $ 106.04 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Small Company Index - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 117.06 $ 135.75 $ 139.49 $ 161.81 $ 156.54 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/T. Rowe Price Growth Stock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 111.19 $ 113.95 $ 107.80 $ 113.91 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Templeton Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 107.54 $ 108.19 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/UBS Growth and Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 109.21 $ 117.32 $ 131.98 $ 131.58 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Comstock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 104.21 $ 119.04 $ 114.37 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------
II-13 Appendix II: Condensed financial information
SERIES 500 CONTRACTS (CONTINUED) UNIT VALUES AND NUMBER OF UNITS OUTSTANDING FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007 (DAILY ASSET CHARGE OF 1.45%). - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------------ 1998 1999 2000 2001 2002 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Emerging Markets Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 81.40 $ 157.03 $ 92.78 $ 86.72 $ 80.41 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 1 1 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Mid Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Real Estate - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Aggressive Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 90.25 $ 105.69 $ 90.49 $ 66.89 $ 47.01 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 4 4 5 5 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Core Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 106.61 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Health Care - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 78.89 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager High Yield - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 89.20 $ 84.96 $ 76.49 $ 76.09 $ 72.96 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 1 1 1 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager International Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 77.98 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Core Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 76.34 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 67.79 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 79.00 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Mid Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 61.93 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Mid Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 73.62 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Small Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Small Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 87.78 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Technology - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 56.57 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Target 2015 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Target 2025 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Target 2035 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ----------------------------------------------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------------ 2003 2004 2005 2006 2007 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Emerging Markets Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 123.57 $ 150.61 $ 197.09 $ 266.22 $ 372.58 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 1 1 1 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Mid Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 123.65 $ 133.14 $ 160.61 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Real Estate - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 82.82 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Aggressive Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 63.87 $ 70.74 $ 75.62 $ 78.53 $ 86.41 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 5 5 5 5 4 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Core Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 109.00 $ 111.59 $ 111.90 $ 114.44 $ 119.83 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Health Care - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 99.63 $ 110.09 $ 116.05 $ 120.24 $ 129.11 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager High Yield - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 88.34 $ 94.85 $ 96.58 $ 104.89 $ 106.88 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 1 1 1 1 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager International Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 103.24 $ 119.96 $ 136.48 $ 168.56 $ 186.75 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Core Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 96.40 $ 104.20 $ 109.60 $ 122.68 $ 126.94 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 87.27 $ 91.74 $ 97.18 $ 95.88 $ 105.11 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 102.05 $ 115.08 $ 121.47 $ 142.84 $ 145.88 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Mid Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 85.59 $ 94.24 $ 100.66 $ 108.75 $ 119.92 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- 1 -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Mid Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 102.01 $ 115.80 $ 122.51 $ 138.52 $ 136.63 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Small Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 114.56 $ 121.35 $ 131.81 $ 134.67 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Small Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 118.84 $ 137.16 $ 141.51 $ 161.93 $ 143.86 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Technology - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 87.89 $ 90.93 $ 99.71 $ 105.44 $ 122.84 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 1 1 1 - ------------------------------------------------------------------------------------------------------------------------------------ Target 2015 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 108.28 $ 114.43 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Target 2025 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 109.23 $ 115.57 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Target 2035 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 110.12 $ 116.54 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------
Appendix II: Condensed financial information II-14
SERIES 500 CONTRACTS (CONTINUED) UNIT VALUES AND NUMBER OF UNITS OUTSTANDING FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007 (DAILY ASSET CHARGE OF 1.45%). - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------------ 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 - ------------------------------------------------------------------------------------------------------------------------------------ Target 2045 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- -- -- -- $ 110.91 $ 117.82 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------
II-15 Appendix II: Condensed financial information Appendix III: Market value adjustment example - -------------------------------------------------------------------------------- The example below shows how the market value adjustment would be determined and how it would be applied to a withdrawal, assuming that $100,000 was allocated on June 15, 2008 to a fixed maturity option with a maturity date of June 15, 2016 (eight* years later) at a hypothetical rate to maturity of 7.00% (h), resulting in a maturity value of $171,882 on the maturity date. We further assume that a withdrawal of $50,000 is made four years later, on June 15, 2012.(a)
- ----------------------------------------------------------------------------------------------- Hypothetical assumed rate to maturity(j) on June 15, 2012 ------------------------ 5% 9% - ----------------------------------------------------------------------------------------------- As of June 15, 2012 before withdrawal - ----------------------------------------------------------------------------------------------- (1) market adjusted amount(b) $141,389 $121,737 - ----------------------------------------------------------------------------------------------- (2) fixed maturity amount(c) $131,104 $131,104 - ----------------------------------------------------------------------------------------------- (3) market value adjustment: (1) - (2) $ 10,285 $ (9,367) - ----------------------------------------------------------------------------------------------- On June 15, 2012 after $50,000 withdrawal - ----------------------------------------------------------------------------------------------- (4) portion of market value adjustment associated with the withdrawal: (3) x [$50,000/(1)] $ 3,637 $ (3,847) - ----------------------------------------------------------------------------------------------- (5) portion of fixed maturity associated with the withdrawal: $50,000 - (4) $ 46,363 $ 53,847 - ----------------------------------------------------------------------------------------------- (6) market adjusted amount (1) - $50,000 $ 91,389 $ 71,737 - ----------------------------------------------------------------------------------------------- (7) fixed maturity amount: (2) - (5) $ 84,741 $ 77,257 - ----------------------------------------------------------------------------------------------- (8) maturity value (d) $111,099 $101,287 - -----------------------------------------------------------------------------------------------
You should note that in this example, if a withdrawal is made when rates have increased from 7.00% to 9.00% (right column), a portion of a negative market value adjustment is realized. On the other hand, if a withdrawal is made when rates have decreased from 7.00% to 5.00% (left column), a portion of a positive market value adjustment is realized. * In Oregon, seven is the maximum maturity year. Notes: (a) Number of days from the withdrawal date to the maturity date = D = 1,461 (b) Market adjusted amount is based on the following calculation: Maturity value $171,882 ________________ ________________ = where j is either 5% or 9% (1+j)(D/365) (1+j)(1,461/365) (c) Fixed maturity amount is based on the following calculation: Maturity value $171,882 ________________ ________________ = (1+h)(D/365) (1+0.07)(1,461/365) (d) Maturity value is based on the following calculation: Fixed maturity amount x (1+h)(D/365) = ($84,741 or $77,257) x (1+0.07)(1,461/365) Appendix III: Market value adjustment example III-1 Appendix IV: State contract availability and/or variations of certain features and benefits - -------------------------------------------------------------------------------- STATES WHERE CERTAIN EQUI-VEST(SM) FEATURES AND/OR BENEFITS ARE NOT AVAILABLE OR HAVE CERTAIN VARIATIONS TO FEATURES AND/OR BENEFITS:
- ------------------------------------------------------------------------------------------------------- State Features and benefits Availability or variation - ------------------------------------------------------------------------------------------------------- California See "Your right to cancel within a cer- If you reside in the state of California tain number of days" under "Contract and you are age 60 or older at the time the features and benefits" contract is issued, you may return your variable annuity contract within 30 days from the date that you receive it and receive a refund as described below. If you allocate your entire initial contribution to the EQ/Money Market option (and/or the guaranteed interest option), the amount of your refund will be equal to your contribution less interest, unless you make a transfer, in which case the amount of your refund will be equal to your account value on the date we receive your request to cancel at our processing office. This amount could be less than your initial contribution. If you allocate any portion of your initial contribution to variable investment options other than the EQ/Money Market option and/or the fixed matu- rity options, your refund will be equal to your account value on the date we receive your request to cancel at our processing office. - ------------------------------------------------------------------------------------------------------- New York See "Selecting an annuity payout In the second to last paragraph in this option" in "Your annuity payout section, the second line in the paragraph option" under "Accessing your money" "(1) the amount applied to purchase the annuity;" is deleted in its entirety and replaced with the following: (1) The amount applied to provide the annuity will be: (a) the account value for any life annuity form or (b) the cash value for any period certain annuity form except that, if the period certain is more than five years, the amount applied will be no less than 95% of the account value. - ------------------------------------------------------------------------------------------------------- Puerto Rico See "Taxation of nonqualified annu- There are special rules for nonqualified ities" under "Tax information" contracts issued in Puerto Rico. Income from NQ contracts we issue is U.S. source. A Puerto Rico resident is subject to U.S. taxation on such U.S. source income. Only Puerto Rico source income of Puerto Rico residents is excludable from U.S. taxation. Income from NQ contracts is also subject to Puerto Rico tax. The calculation of the taxable portion of amounts distributed from a contract may differ in the two jurisdictions. Therefore, you might have to file both U.S. and Puerto Rico tax returns, showing different amounts of income from the contract for each tax return. Puerto Rico generally provides a credit against Puerto Rico tax for U.S. tax paid. Depending on your personal situa- tion and the timing of the different tax liabilities, you may not be able to take full advantage of this credit. - ------------------------------------------------------------------------------------------------------- Washington See "Fixed maturity options" in "What The fixed maturity options are not contract?" under "Contract features available for contracts issued after August and benefits" 13, are your investment options under the 2001. - -------------------------------------------------------------------------------------------------------
IV-1 Appendix IV: State contract availability and/or variations of certain features and benefits Statement of additional information - -------------------------------------------------------------------------------- TABLE OF CONTENTS Page Who is AXA Equitable? 2 Calculation of annuity payments 2 Custodian and independent registered public accounting firm 2 Distribution of the contracts 3 Calculating unit values 3 Financial statements 3 How to Obtain an EQUI-VEST(SM) Statement of Additional Information for Separate Account A Call 1 (800) 628-6673 or send this request form to: EQUI-VEST(SM) Processing Office AXA Equitable P.O. Box 4956 Syracuse, NY 13221-4956 ................................................................................. Please send me an EQUI-VEST(SM) Statement of Additional Information dated May 1, 2008. (Combination variable and fixed deferred annuity) - -------------------------------------------------------------------------------- Name - -------------------------------------------------------------------------------- Address - -------------------------------------------------------------------------------- City State Zip X02031 EQUI-VEST(SM) Employer-Sponsored Retirement Programs PROSPECTUS DATED MAY 1, 2008 Please read and keep this prospectus for future reference. It contains important information that you should know before purchasing or taking any other action under your contract. You should read the prospectuses for each Trust which contain important information about the portfolios. - -------------------------------------------------------------------------------- WHAT IS EQUI-VEST(SM)? EQUI-VEST(SM) is a deferred annuity contract issued by AXA Equitable Life Insurance Company. It provides for the accumulation of retirement savings and for income. The contract also offers death benefit protection and a number of payout options. You invest to accumulate value on a tax-deferred basis in one or more of our variable investment options and our guaranteed interest option or in our fixed maturity options ("investment options"). Each of these contracts may not currently be available in all states. - -------------------------------------------------------------------------------- Variable investment options - -------------------------------------------------------------------------------- Fixed income - -------------------------------------------------------------------------------- o AXA Conservative Allocation(1) o EQ/JPMorgan Core Bond o AXA Conservative-Plus Allocation(1) o EQ/Long Term Bond o EQ/AllianceBernstein Intermediate o EQ/Money Market Government Securities o EQ/PIMCO Real Return o EQ/AllianceBernstein Quality Bond o EQ/Short Duration Bond o EQ/Caywood-Scholl High Yield Bond o Multimanager Core Bond o EQ/Evergreen International Bond o Multimanager High Yield o EQ/Franklin Income - -------------------------------------------------------------------------------- Domestic stocks - -------------------------------------------------------------------------------- o AXA Aggressive Allocation(1) o EQ/Marsico Focus o AXA Moderate-Plus Allocation(1) o EQ/Mid Cap Value PLUS(6) o EQ/AllianceBernstein Common Stock o EQ/Montag & Caldwell Growth o EQ/AllianceBernstein Large Cap o EQ/Mutual Shares Growth o EQ/Oppenheimer Main Street o EQ/AllianceBernstein Small Cap Opportunity Growth o EQ/Oppenheimer Main Street o EQ/AllianceBernstein Value Small Cap o EQ/Ariel Appreciation II(2) o EQ/Small Company Index o EQ/AXA Rosenberg Value Long/Short o EQ/T. Rowe Price Growth Stock Equity(3) o EQ/Templeton Growth o EQ/BlackRock Basic Value Equity o EQ/UBS Growth and Income o EQ/Boston Advisors Equity Income o EQ/Van Kampen Comstock o EQ/Calvert Socially Responsible o EQ/Van Kampen Mid Cap Growth o EQ/Capital Guardian Growth o EQ/Van Kampen Real Estate o EQ/Capital Guardian Research o Multimanager Aggressive Equity o EQ/Davis New York Venture o Multimanager Health Care o EQ/Equity 500 Index o Multimanager Large Cap Core Equity o EQ/Evergreen Omega o Multimanager Large Cap Growth o EQ/FI Mid Cap o Multimanager Large Cap Value o EQ/Franklin Small Cap Value o Multimanager Mid Cap Growth o EQ/Franklin Templeton Founding o Multimanager Mid Cap Value Strategy o Multimanager Small Cap Growth o EQ/GAMCO Mergers and Acquisitions o Multimanager Small Cap Value o EQ/GAMCO Small Company Value o Multimanager Technology o EQ/JPMorgan Value Opportunities o Target 2015 Allocation o EQ/Large Cap Core PLUS(4) o Target 2025 Allocation o EQ/Large Cap Growth PLUS(5) o Target 2035 Allocation o EQ/Legg Mason Value Equity o Target 2045 Allocation o EQ/Lord Abbett Growth and Income o EQ/Lord Abbett Large Cap Core o EQ/Lord Abbett Mid Cap Value - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- International stocks - -------------------------------------------------------------------------------- o EQ/AllianceBernstein International o EQ/Oppenheimer Global o EQ/BlackRock International Value o EQ/Van Kampen Emerging Markets o EQ/International Core PLUS(7) Equity o EQ/International Growth o Multimanager International Equity - -------------------------------------------------------------------------------- Balanced/hybrid - -------------------------------------------------------------------------------- o AXA Moderate Allocation(1) - -------------------------------------------------------------------------------- (1) The AXA Allocation portfolios. (2) The EQ/Ariel Appreciation II option is not available under EDC and TSA contracts. (3) The EQ/AXA Rosenberg Value Long/Short Equity option is not available for new contributions or incoming transfers for certain TSA contract owners in the State of Texas. (See Appendix IV.) (4) Formerly named "MarketPLUS Large Cap Core." (5) Formerly named "MarketPLUS Large Cap Growth." (6) Formerly named "MarketPLUS Mid Cap Value." (7) Formerly named "MarketPLUS International Core." You allocate amounts to the variable investment options, under your choice of investment method subject to any restrictions. Each variable investment option is a subaccount of Separate Account A. Each variable investment option, in turn, invests in a corresponding securities portfolio ("portfolio") of the AXA Premier VIP Trust or EQ Advisors Trust (the "Trusts"). Your investment results in a variable investment option will depend on the investment performance of the related portfolio. You may also allocate amounts to the guaranteed interest option and the fixed maturity options, which are discussed later in this prospectus. The SEC has not approved or disapproved these securities or determined if this prospectus is accurate or complete. Any representation to the contrary is a criminal offense. The contracts are not insured by the FDIC or any other agency. They are not deposits or other obligations of any bank and are not bank guaranteed. They are subject to investment risks and possible loss of principal. X02003 TYPES OF CONTRACTS. For existing and new contract owners, we offer different "series" of contracts for use as: Employer-funded traditional individual retirement annuities ("IRAs"): o A simplified employee pension plan ("SEP") sponsored by an employer. o SEPs funded by salary reduction arrangements ("SARSEPs") for plans established by employers before January 1, 1997. Although we still issue these contracts to employees whose employer's plans enrolled on this basis, plans of this type are no longer available under EQUI-VEST(SM) to new employer groups without existing plans. o SIMPLE IRAs funded by employee salary reduction and employer contributions. Other employer-sponsored contracts: o Trusteed contracts to fund defined contribution "HR-10" or "Keogh" plans of employers who are sole proprietorships, partnerships, or business trusts, or plans of corporations, including non-profit organizations and states or local governmental entities. o Annuitant-Owned contracts to fund defined contribution HR-10 or Keogh plans. o An Internal Revenue Code Section 403(b) Tax-Sheltered Annuity (basic "TSA") for public schools and nonprofit entities under Internal Revenue Code Section 501(c)(3). o A TSA annuity issued to participants of TSA plans generally sponsored by universities ("University TSA") that prohibits loans and has restrictions not included in a basic TSA. o To fund Internal Revenue Code Section 457 employee deferred compensation ("EDC") plans of state and municipal governments and tax-exempt organizations. Minimum contribution amounts of $20 may be made under the contract. For existing contract owners only: o Original contracts (see Appendix 1). Registration statements relating to this offering have been filed with the Securities and Exchange Commission ("SEC"). The statement of additional information ("SAI") dated May 1, 2008, is a part of one of the registration statements. The SAI is available free of charge. You may request one by writing to our processing office at P.O. Box 4956, Syracuse, NY 13221-4956 or calling (800) 628-6673. The SAI has been incorporated by reference into this prospectus. This prospectus and the SAI can also be obtained from the SEC's website at www.sec.gov. The table of contents for the SAI appears at the back of this prospectus. Although this prospectus is primarily designed for potential purchasers of the contract, you may have previously purchased a contract and are receiving this prospectus as a current contract owner. If you are a current contract owner, you should note that the options, features and charges of the contract may have varied over time and may vary depending on your state. For more information about the particular options, features and charges applicable to you, please contact your financial professional and/or refer to your contract and/or see Appendices I and IV. Contents of this prospectus - -------------------------------------------------------------------------------- EQUI-VEST(SM) - -------------------------------------------------------------------------------- Index of key words and phrases 5 Who is AXA Equitable? 7 How to reach us 8 EQUI-VEST(SM) employer-sponsored retirement programs at a glance -- key features 10 - -------------------------------------------------------------------------------- FEE TABLE 13 - -------------------------------------------------------------------------------- Examples 16 Examples: EQUI-VEST(SM) series 100 and 200 contracts 18 Examples: EQUI-VEST(SM) series 200 Trusteed contracts 20 Examples: EQUI-VEST(SM) series 300 contracts 22 Examples: EQUI-VEST(SM) series 400 contracts 24 Condensed financial information 26 - -------------------------------------------------------------------------------- 1. CONTRACT FEATURES AND BENEFITS 27 - -------------------------------------------------------------------------------- How you can purchase and contribute to your contract 27 Owner and annuitant requirements 29 How you can make your contributions 29 What are your investment options under the contract? 29 Portfolios of the Trusts 30 Selecting your investment method 36 ERISA considerations for employers 37 Allocating your contributions 37 Your right to cancel within a certain number of days 37 - -------------------------------------------------------------------------------- 2. DETERMINING YOUR CONTRACT'S VALUE 38 - -------------------------------------------------------------------------------- Your account value and cash value 38 Your contract's value in the variable investment options 38 Your contract's value in the guaranteed interest option 38 Your contract's value in the fixed maturity options 38 - -------------------------------------------------------------------------------- 3. TRANSFERRING YOUR MONEY AMONG INVESTMENT OPTIONS 39 - -------------------------------------------------------------------------------- Transferring your account value 39 Disruptive transfer activity 39 Automatic transfer options 40 Investment simplifier 40 Rebalancing your account value 41 - ---------------------- "We," "our" and "us" refer to AXA Equitable. When we address the reader of this prospectus with words such as "you" and "your," we mean the person who has the right or responsibility that the prospectus is discussing at that point. This is usually the contract owner. When we use the word "contract" it also includes certificates that are issued under group contracts in some states. Contents of this prospectus 3 - -------------------------------------------------------------------------------- 4. ACCESSING YOUR MONEY 42 - -------------------------------------------------------------------------------- Withdrawing your account value 42 How withdrawals are taken from your account value 43 Loans under TSA, governmental employer EDC and Corporate Trusteed contracts 43 Termination 44 Texas ORP participants 44 When to expect payments 44 Your annuity payout options 44 - -------------------------------------------------------------------------------- 5. CHARGES AND EXPENSES 47 - -------------------------------------------------------------------------------- Charges that AXA Equitable deducts 47 Charges under the contracts 47 For all contract series 51 Charges that the Trusts deduct 51 Variation in charges 52 - -------------------------------------------------------------------------------- 6. PAYMENT OF DEATH BENEFIT 53 - -------------------------------------------------------------------------------- Your beneficiary and payment of benefit 53 How death benefit payment is made 53 Beneficiary continuation option (For TSAs, SEPs, SARSEP and SIMPLE IRAs only) 53 - -------------------------------------------------------------------------------- 7. TAX INFORMATION 55 - -------------------------------------------------------------------------------- Tax information and ERISA matters 55 Buying a contract to fund a retirement arrangement 55 Special rules for tax-favored retirement programs 55 Additional "Saver's Credit" for salary reduction contributions to certain plans or a traditional IRA or Roth IRA 55 Qualified plans 56 Tax-sheltered annuity arrangements (TSAs) 56 Distributions from Qualified Plans and TSAs 58 Simplified Employee Pensions (SEPs) 61 SIMPLE IRAs (Savings Incentive Match Plan) 61 Public and tax-exempt organization employee deferred compensation plans (EDC Plans) 62 Traditional Individual Retirement Annuities (traditional IRAs) 63 ERISA matters 70 Certain rules applicable to plans designed to comply with Section 404(c) of ERISA 71 Federal and state income tax withholding and information reporting 71 Federal income tax withholding on periodic annuity payments 71 Federal income tax withholding on non-periodic annuity payments (withdrawals) 71 Mandatory withholding from TSA, governmental employer EDC and qualified plan distributions 72 Impact of taxes to AXA Equitable 72 - -------------------------------------------------------------------------------- 8. MORE INFORMATION 73 - -------------------------------------------------------------------------------- About our Separate Account A 73 About the Trusts 73 About our fixed maturity options 73 About the general account 74 About other methods of payment 75 Dates and prices at which contract events occur 75 About your voting rights 75 About legal proceedings 76 Financial statements 76 Transfers of ownership, collateral assignments, loans, and borrowing 76 Funding changes 76 Distribution of the contracts 76 - -------------------------------------------------------------------------------- 9. INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE 78 - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- APPENDICES - -------------------------------------------------------------------------------- I -- Original contracts I-1 II -- Condensed financial information II-1 III -- Market value adjustment example III-1 IV -- State contract availability and/or variations of certain features and benefits IV-1 - -------------------------------------------------------------------------------- STATEMENT OF ADDITIONAL INFORMATION TABLE OF CONTENTS - -------------------------------------------------------------------------------- 4 Contents of this prospectus Index of key words and phrases - -------------------------------------------------------------------------------- This index should help you locate more information on the terms used in this prospectus. Page account value 38 annuitant 37 annuity payout options 29 Annuitant-Owned HR-10 cover beneficiary 53 beneficiary continuation option 53 business day 75 cash value 38 contract date 11 contract date anniversary 11 contract year 11 contributions 27 disruptive transfer activity 39 DOL 56 EDC cover EQAccess 8 ERISA 37 elective deferral contributions 56 fixed maturity amount 35 fixed maturity option 35 guaranteed interest option 35 IRA cover investment options cover, 29 market adjusted amount 35 market timing 39 market value adjustment 35 maturity value 35 nonelective contribution 62 Original contracts Appendix I partial withdrawals 42 portfolio cover processing office 8 rate to maturity 35 Required Beginning Date 69 SAI cover SEC cover salary reduction contributions 55 SARSEP cover SEP cover SIMPLE IRA cover TOPS 8 Trusteed contracts cover TSA cover Trusts cover unit 38 unit investment trust 73 variable investment options cover, 29 To make this prospectus easier to read, we sometimes use different words than in the contract or supplemental materials. This is illustrated below. Although we do use different words, they have the same meaning in this prospectus as in the contract or supplemental materials. Your financial professional can provide further explanation about your contract.
- -------------------------------------------------------------------------------- Prospectus Contract or Supplemental Materials - -------------------------------------------------------------------------------- fixed maturity options Guarantee Periods or Fixed Maturity Accounts variable investment options Investment Funds or Investment Divisions account value Annuity Account Value rate to maturity Guaranteed Rates guaranteed interest option Guaranteed Interest Account unit Accumulation unit unit value Accumulation unit value - --------------------------------------------------------------------------------
Index of key words and phrases 5 In this prospectus, we use a "series" number when necessary to identify a particular contract. We discuss four series of contracts. Once you have purchased a contract you can identify the EQUI-VEST(SM) series you have by referring to your confirmation notice, or you may contact your financial professional, or you may call our toll-free number. The series designations are as follows: ------------------------------------------------------------------------------------------------------------- TSA, SEP, EDC, Annuitant-Owned HR-10 and Trusteed contracts. series 100 This series is no longer available for new purchasers except in NY and NJ (for TSA, EDC and Trusteed). ------------------------------------------------------------------------------------------------------------- TSA, EDC, Annuitant-Owned HR-10, Trusteed, SEP and SARSEP contracts. series 200 This series is available for new purchasers of TSA, EDC, Trusteed, and Annuitant-Owned HR-10 contracts in all states except in NY and NJ. Also available for SEP and SARSEP contracts in MD, OR and WA. ------------------------------------------------------------------------------------------------------------- SEP and SARSEP contracts in all states except in MD, OR and WA. series 300 ------------------------------------------------------------------------------------------------------------- SIMPLE IRA contracts in all approved states. series 400 -------------------------------------------------------------------------------------------------------------
We also have contracts that we refer to as "Original contracts." These contracts are no longer available for new purchasers. Any information about original contracts which is different from the current series we offer can be found in Appendix I, which will be referenced throughout this prospectus when it applies. 6 Index of key words and phrases Who is AXA Equitable? - -------------------------------------------------------------------------------- We are AXA Equitable Life Insurance Company ("AXA Equitable") (until 2004, The Equitable Life Assurance Society of the United States), a New York stock life insurance corporation. We have been doing business since 1859. AXA Equitable is an indirect, wholly-owned subsidiary of AXA Financial, Inc., a holding company, which is itself an indirect, wholly-owned subsidiary of AXA SA ("AXA"). AXA is a French holding company for an international group of insurance and related financial services companies. As the ultimate sole shareholder of AXA Equitable, and under its other arrangements with AXA Equitable and AXA Equitable's parent, AXA exercises significant influence over the operations and capital structure of AXA Equitable and its parent. AXA holds its interest in AXA Equitable through a number of other intermediate holding companies, including Oudinot Participations, AXA America Holdings, Inc. and AXA Equitable Financial Services, LLC. AXA Equitable is obligated to pay all amounts that are promised to be paid under the contracts. No company other than AXA Equitable, however, has any legal responsibility to pay amounts that AXA Equitable owes under the contracts. AXA Financial, Inc. and its consolidated subsidiaries managed approximately $888.6 billion in assets as of December 31, 2007. For more than 100 years AXA Equitable has been among the largest insurance companies in the United States. We are licensed to sell life insurance and annuities in all fifty states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. Our home office is located at 1290 Avenue of the Americas, New York, NY 10104. Who is AXA Equitable? 7 HOW TO REACH US Please communicate with us at the mailing addresses listed below for the purposes described. Certain methods of contacting us, such as by telephone or electronically, may be unavailable or delayed. For example, our facsimile service may not be available at all times and/or we may be unavailable due to emergency closing. In addition, the level and type of service available may be restricted based on criteria established by us. In order to avoid delays in processing, please send your correspondence and check to the appropriate location, as follows: For correspondence with checks: - ------------------------------------------------------ FOR CONTRIBUTIONS SENT BY REGULAR MAIL: - ------------------------------------------------------ AXA Equitable EQUI-VEST(SM) Unit Collections P.O. Box 13463 Newark, NJ 07188-0463 - ------------------------------------------------------ FOR TSA, GOVERNMENTAL EMPLOYER EDC AND CORPORATE TRUSTEED LOAN REPAYMENTS SENT BY REGULAR MAIL: - ------------------------------------------------------ AXA Equitable EQUI-VEST(SM) Loan Repayments Lockbox P.O. Box 13496 Newark, NJ 07188-0496 - ------------------------------------------------------ FOR CONTRIBUTIONS SENT BY EXPRESS DELIVERY: - ------------------------------------------------------ AXA Equitable JPMorganChase EQUI-VEST(SM) Lockbox #13463 4 Chase Metrotech Center (7th Floor) Brooklyn, NY 11245-0001 Telephone number to be listed on express mail packages Attn: Extraction Supervisor, (718) 242-2992 For correspondence without checks: - ------------------------------------------------------ FOR ALL OTHER COMMUNICATIONS (E.G., REQUESTS FOR TRANSFERS, WITHDRAWALS, OR REQUIRED NOTICES) SENT BY REGULAR MAIL: - ------------------------------------------------------ AXA Equitable EQUI-VEST(SM) Processing Office P.O. Box 4956 Syracuse, NY 13221-4956 - ------------------------------------------------------ FOR ALL OTHER COMMUNICATIONS (E.G., REQUESTS FOR TRANSFERS, WITHDRAWALS, OR REQUIRED NOTICES) SENT BY EXPRESS DELIVERY: - ------------------------------------------------------ AXA Equitable EQUI-VEST(SM) Processing Office 100 Madison Street, Suite 1000 Syracuse, NY 13202 ---------------------------------- Your correspondence will be picked up at the mailing address noted above and delivered to the appropriate processing office. Your correspondence, however, is not considered received by us until it is received at one of our processing offices. Our processing office for correspondence with checks is 4 Chase Metrotech Center, 7th Floor, Brooklyn, NY. Our processing office for all other communications is 100 Madison Street, Suite 100, Syracuse, NY. - ------------------------------------------------------ REPORTS WE PROVIDE: - ------------------------------------------------------ o written confirmation of financial transactions; o quarterly statements of your contract values as of the close of each calendar quarter; and o annual statement of your contract values as of your contract date anniversary. - ------------------------------------------------------ TELEPHONE OPERATED PROGRAM SUPPORT ("TOPS") AND EQACCESS SYSTEMS - ------------------------------------------------------ TOPS is designed to provide you with up-to-date information via touch-tone telephone. EQAccess is designed to provide this information through the Internet. You can obtain information on: o your current account value; o your current allocation percentages; o the number of units you have in the variable investment options; o rates to maturity for fixed maturity options; o the daily unit values for the variable investment options; and o performance information regarding the variable investment options (not available through TOPS). You can also: o change your allocation percentages and/or transfer among the variable investment options and the guaranteed interest option (not available for transfers to fixed maturity options); and o change your TOPS personal identification number ("PIN") (through TOPS only) and your EQAccess password (through EQAccess only). Under TOPS only you can: o elect the investment simplifier. Under EQAccess only you can: o elect to receive certain contract statements electronically; o change your address; and o access "Frequently Asked Questions" and certain service forms. TOPS and EQAccess are normally available seven days a week, 24 hours a day. You can use TOPS by calling toll free (800)755-7777. You may use EQAccess by visiting our website at www.axaonline.com and logging in to access your account. Of course, for reasons beyond our control, these services may sometimes be unavailable. We have established procedures to reasonably confirm that the instructions communicated by telephone or the Internet are genuine. 8 Who is AXA Equitable? For example, we will require certain personal identification information before we will act on telephone or Internet instructions and we will provide written confirmation of your transfers. If we do not employ reasonable procedures to confirm the genuineness of telephone or Internet instructions, we may be liable for any losses arising out of any act or omission that constitutes negligence, lack of good faith or willful misconduct. In light of our procedures, we will not be liable for following telephone or Internet instructions we reasonably believe to be genuine. We reserve the right to limit access to these services if we determine that you engaged in disruptive transfer activity, such as "market timing" (see "Disruptive transfer activity" in "Transferring your money among investment options" later in this prospectus). - ------------------------------------------------------ CUSTOMER SERVICE REPRESENTATIVE: - ------------------------------------------------------ You may also use our toll-free number (800) 628-6673 to speak with one of our customer service representatives. Our customer service representatives are available on each business day Monday through Thursday from 8:00 a.m. to 7:00 p.m., and on Friday until 5:00 p.m., Eastern Time. Hearing or speech-impaired clients may call the AT&T National Relay Number at (800) 855-2880 for information about your account. If you have a Telecommunications Device for the Deaf (TDD), you may relay messages or questions to our Customer Service Department at (800) 628-6673, Monday through Thursday from 8:00 a.m. to 7:00 p.m., and on Friday until 5:00 p.m. Eastern Time. AT&T personnel will communicate our reply back to you, via the TDD. - ------------------------------------------------------ TOLL-FREE TELEPHONE SERVICE: - ------------------------------------------------------ You may reach us toll-free by calling 1 (800) 841-0801 for a recording of daily unit values for the variable investment options. WE REQUIRE THAT THE FOLLOWING TYPES OF COMMUNICATIONS BE ON SPECIFIC FORMS WE PROVIDE FOR THAT PURPOSE: (1) election of the automatic investment program (not applicable to all contracts); (2) election of the investment simplifier; (3) election of the automatic deposit service; (4) election of the rebalancing program; (5) election of required minimum distribution automatic withdrawal option; (6) election of beneficiary continuation option (TSA, SEP, SARSEP, and SIMPLE IRA contracts only); (7) transfer/rollover of assets to another carrier; (8) request for a loan (ERISA and non-ERISA TSA, governmental employer EDC (subject to state availability) and Corporate Trusteed contracts); (9) tax withholding election; and (10) contract surrender and withdrawal requests. WE ALSO HAVE SPECIFIC FORMS THAT WE RECOMMEND YOU USE FOR THE FOLLOWING TYPES OF REQUESTS: (1) address changes; (2) beneficiary changes; (3) transfers among investment options; and (4) change of ownership (when applicable). TO CHANGE OR CANCEL ANY OF THE FOLLOWING WE REQUIRE WRITTEN NOTIFICATION GENERALLY AT LEAST SEVEN CALENDAR DAYS BEFORE THE NEXT SCHEDULED TRANSACTION: (1) automatic investment program; (2) investment simplifier; (3) rebalancing program; (4) systematic withdrawals; and (5) the date annuity payments are to begin. You must sign and date all these requests. Any written request that is not on one of our forms must include your name and your contract number along with adequate details about the notice you wish to give or the action you wish us to take. SIGNATURES: The proper person to sign forms, notices and requests would normally be the owner. For TSA, SEP, and SIMPLE IRA contracts we need the annuitant's signature and in some cases the Plan Administrator's signature if the Plan requires it. Who is AXA Equitable? 9 EQUI-VEST(SM) employer-sponsored retirement programs at a glance -- key features - ------------------------------------------------------------------------------------------------------------------------------------ Professional EQUI-VEST(SM)'s variable investment options invest in different portfolios sub-advised by investment professional investment advisers. management - ------------------------------------------------------------------------------------------------------------------------------------ Guaranteed o Principal and interest guarantees interest option o Interest rates set periodically - ------------------------------------------------------------------------------------------------------------------------------------ Fixed maturity o 10 (7 in Oregon) fixed maturity options with maturities ranging from approximately 1 to 10 options years (1 to 7 in Oregon). o Each fixed maturity option offers a guarantee of principal and interest rate if you hold it to maturity. ------------------------------------------------------------------------------------------------------------- If you make any withdrawals (including transfers, surrender or termination of your contract or when we make deductions for charges) from a fixed maturity option before it matures, we will make a market value adjustment, which will increase or decrease any fixed maturity amount you have in that fixed maturity option. ------------------------------------------------------------------------------------------------------------- Only available for contracts in states where approved. - ------------------------------------------------------------------------------------------------------------------------------------ Tax advantages o On earnings inside No tax until you make withdrawals from your contract or receive the contract annuity payments. o On transfers inside No tax on transfers among investment options. the contract ------------------------------------------------------------------------------------------------------------- Because you are purchasing an annuity contract as a Tax Sheltered Annuity (TSA), or to fund a qualified employer sponsored retirement arrangement, you should be aware that such contracts do not provide tax deferral benefits beyond those already provided by the Internal Revenue Code. Before purchasing one of these contracts, you should consider whether its features and benefits beyond tax deferral meet your needs and goals. You may also want to consider the relative features, benefits and costs of these annuities with any other investment that you may use in connection with your retirement plan or arrangement. (For more information, see "Tax information," later in this prospectus.) - ------------------------------------------------------------------------------------------------------------------------------------ Contribution amounts o $20 (minimum) each contribution o Maximum contribution limitations may apply. In general, contributions are limited to $1.5 million under all EQUI-VEST(SM) series and EQUI-VEST(SM) At Retirement(SM) contracts with the same owner or annuitant ($500,000 for owners or annuitants who are age 81 and older at contract issue.) - ------------------------------------------------------------------------------------------------------------------------------------ Access to your money o Partial withdrawals o Several withdrawal options on a periodic basis o Contract surrender Withdrawals are subject to the terms of the plan and may be limited. You may incur a withdrawal charge for certain withdrawals or if you surrender your contract. You may also incur income tax and a penalty tax. - ------------------------------------------------------------------------------------------------------------------------------------ Payout options o Fixed annuity payout options o Variable Immediate Annuity payout options (described in a separate prospectus for that option) - ------------------------------------------------------------------------------------------------------------------------------------
10 EQUI-VEST(SM) employer-sponsored retirement programs at a glance -- key features - ------------------------------------------------------------------------------------------------------------------------------------ Additional features o Dollar cost averaging by automatic transfers -- Interest sweep option -- Fixed dollar option o Automatic investment program (not applicable to all contracts) o Account value rebalancing (quarterly, semiannually, and annually) o No charge on transfers among investment options o Waiver of withdrawal charge under certain circumstances o Minimum death benefit - ------------------------------------------------------------------------------------------------------------------------------------ Fees and charges o Daily charge on amounts invested in variable investment options for mortality and expense risks and other expenses at annual rates determined by contract series: series 100 and 200 -- 1.34%; two options at 1.40%, currently (maximum of 1.49%). series 300 and 400: 1.34%; four options at 1.35% (maximum of 2.00% for series 400). o Annual administrative charge*: series 100 and 200: $30 or 2% of the account value plus any amounts previously withdrawn during the contract year, if less. series 300 and 400: $30 ($65 maximum) during the first two contract years or 2% of the account value plus any amounts previously withdrawn during the contract year, if less; $30 thereafter ($65 maximum). * For individuals who own multiple contracts with combined account values over $100,000, this charge may be waived. See "Annual administrative charge" in "Charges and expenses" later in this prospectus. o Charge for third-party transfer (such as in the case of a trustee-to-trustee transfer for an IRA contract) or exchange (if your contract is exchanged for a contract issued by another insurance company): series 100 and 200: none series 300 and 400: $25 current per occurrence ($65 maximum). o No sales charge deducted at the time you make contributions. o Withdrawal charge: -- series 300, 400, and Trusteed contracts under series 100 and 200: We deduct a charge equal to 6% of contributions that have been withdrawn if such contributions were made in the current and five prior contract years. All SEP, SARSEP, TSA, EDC and Annuitant-owned HR-10 contracts under series 100 and 200: 6% of amount withdrawn, generally declining for the first through 12th contract years. The total of all withdrawal charges may not exceed 8% of all contributions made during a specified period before the withdrawal is made. There is no charge in any contract year in which the amount withdrawn does not exceed 10% of your account value as of date of the withdrawal, minus prior withdrawals in that contract year. Under certain circumstances the withdrawal charge will not apply. They are discussed in "Charges and expenses" later in this prospectus. ------------------------------------------------------------------------------------------------------------- The "contract date" is the effective date of a contract. This usually is the business day we receive the properly completed and signed application, along with any other required documents, and your initial contribution. Your contract date will be shown in your contract. The 12-month period beginning on your contract date and each 12-month period after that date is a "contract year." The end of each 12-month period is your "contract date anniversary." For example if your contract date is May 1, your contract date anniversary is April 30. ------------------------------------------------------------------------------------------------------------ o We deduct a charge designed to approximate certain taxes that may be imposed on us, such as premium taxes in your state. The charge is generally deducted from the amount applied to an annuity payout option. o We deduct a $350 annuity administrative fee from amounts applied to a Variable Immediate Annuity payout option. This option is described in a separate prospectus that is available from your financial professional. o Annual expenses of the Trusts' portfolios are calculated as a percentage of the average daily net assets invested in each portfolio. Please see "Fee Table" later in this prospectus for details. - ------------------------------------------------------------------------------------------------------------------------------------
THE ABOVE IS NOT A COMPLETE DESCRIPTION OF ALL MATERIAL PROVISIONS OF THE CONTRACT. IN SOME CASES RESTRICTIONS OR EXCEPTIONS APPLY, OR MAY BE IMPOSED BY EMPLOYERS UNDER THEIR PLANS. MAXIMUM EXPENSE LIMITATIONS APPLY TO CERTAIN VARIABLE INVESTMENT OPTIONS, AND RIGHTS ARE RESERVED EQUI-VEST(SM) employer-sponsored retirement programs at a glance -- key features 11 TO CHANGE OR WAIVE CERTAIN CHARGES WITHIN SPECIFIED LIMITS. ALSO, ALL FEATURES OF THE CONTRACT, INCLUDING ALL VARIABLE INVESTMENT OPTIONS, ARE NOT NECESSARILY AVAILABLE IN YOUR STATE OR AT CERTAIN AGES OR UNDER YOUR INVESTMENT METHOD (SEE "SELECTING YOUR INVESTMENT METHOD" LATER IN THIS PROSPECTUS). For more detailed information we urge you to read the contents of this prospectus, as well as your contract. This prospectus provides a description of all material provisions of the contract. Please feel free to speak with your financial professional, or call us, if you have any questions. If for any reason you are not satisfied with your contract, you may return it to us for a refund within a certain number of days. Please see "Your right to cancel within a certain number of days" later in this prospectus for additional information. OTHER CONTRACTS We offer a variety of fixed and variable annuity contracts. They may offer features, including investment options, credits, fees and/or charges that are different from those in the contracts offered by this prospectus. Not every contract is offered through the same Selling broker-dealer. Some Selling broker-dealers may not offer and/or limit the offering of certain features or options, as well as limit the availability of the contracts, based on issue age or other criteria established by the Selling broker-dealer. Upon request, your financial professional can show you information regarding other AXA Equitable annuity contracts that he or she distributes. You can also contact us to find out more about the availability of any of the AXA Equitable annuity contracts. You should work with your financial professional to decide whether an optional benefit is appropriate for you based on a thorough analysis of your particular insurance needs, financial objectives, investment goals, time horizons and risk tolerance. Some Selling broker-dealers may limit their clients from purchasing some optional benefits based upon the client's age. 12 EQUI-VEST(SM) employer-sponsored retirement programs at a glance -- key features Fee table - -------------------------------------------------------------------------------- The following tables describe the fees and expenses that you will pay when buying, owning, and surrendering the contract. Each of the charges and expenses is more fully described in "Charges and expenses" later in this prospectus. The first table describes fees and expenses that you will pay at the time that you surrender the contract, make certain withdrawals, purchase a Variable Immediate Annuity payout option or make certain transfers and exchanges. Charges designed to approximate certain taxes that may be imposed on us, such as premium taxes in your state, may also apply. Charges for certain features shown in the fee table are mutually exclusive.
- --------------------------------------------------------------------------------------------------------------------------------- Charges we deduct from your account value at the time you request certain transactions - --------------------------------------------------------------------------------------------------------------------------------- Maximum withdrawal charge as a percentage of contributions, or amounts with- drawn, depending on the contract and series (deducted if you surrender your contract or make certain withdrawals)(1) 6.00% Charge if you elect a Variable Immediate Annuity payout option (which is described in a separate prospectus for that option) $350 Charge for third-party transfer or exchange series 100 and 200: none series 300 and 400: $65 maximum for each occurrence; currently $25 for each occurrence. The next table describes the fees and expenses that you will pay periodically during the time that you own the contract, not including underlying Trust portfolio fees and expenses. - ---------------------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------------------------- Charges we deduct from your account value on each contract date anniversary - --------------------------------------------------------------------------------------------------------------------------------- Annual administrative charge(2) The lesser of $30 or 2% of your account value, plus any prior withdrawals during the For series 100 and 200: contract year. For series 300 and 400: $65 maximum ($30 current) Net Loan interest charge(3)--TSA, governmental employer EDC and Corporate Trusted contracts (calculated and deducted daily as a percentage of the outstanding loan amount): 2.00%.
- --------------------------------------------------------------------------------------------------------------------------------- Charges we deduct from your variable investment options expressed as an annual percentage of daily net assets - --------------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein All Other Separate account Common Stock Variable Investment annual expenses: EQ/Money Market Options Options ----------------------------- --------------------------- series 100 series 200 series 100 series 200 series 300 series 400 ------------- ------------- ------------- ------------- ------------- ------------ Maximum mortality and expense risk(4) 0.65% 1.24% 0.50% 1.09% 1.10% 1.75% (currently (currently (currently 0.56%) 1.15%) 1.10%) Maximum other expenses(5) 0.84% 0.25% 0.84% 0.25% 0.25% 0.25% (currently (currently 0.24%)(7) 0.24%)(7) ------------- ------------- ----------- ------------- ------------- ------------ Maximum total Separate Account A 1.49% 1.49% 1.34% 1.34% 1.35% 2.00% annual expenses(6) ============= ============= =========== ============= ============= ============ (currently (currently (currently (currently 1.40%) 1.40%) 1.34%)(7) 1.34%)(7)
Fee table 13 You also bear your proportionate share of all fees and expenses paid by a "portfolio" that corresponds to any variable investment option you are using. This table shows the lowest and highest total operating expenses charged by any of the portfolios that you will pay periodically during the time that you own the contract. These fees and expenses are reflected in the portfolio's net asset value each day. Therefore, they reduce the investment return of the portfolio and the related variable investment option. Actual fees and expenses are likely to fluctuate from year to year. More detail concerning each portfolio's fees and expenses is contained in the Trust prospectus for the portfolio. - --------------------------------------------------------------------------------------------------------- Portfolio operating expenses expressed as an annual percentage of daily net assets - --------------------------------------------------------------------------------------------------------- Total Annual Portfolio Operating Expenses for 2007 (expenses that are deducted Lowest Highest from portfolio assets including management fees, 12b-1 fees, service fees, and/or ------ ------- other expenses)(8) 0.38% 3.71% - ---------------------------------------------------------------------------------------------------------
This table shows the fees and expenses for 2007 as an annual percentage of each portfolio's daily average net assets.
- ------------------------------------------------------------------------------------------- Manage- ment 12b-1 Other Portfolio Name Fees(9) Fees(10) Expenses(11) - ------------------------------------------------------------------------------------------- AXA Premier VIP Trust: - ------------------------------------------------------------------------------------------- AXA Aggressive Allocation 0.10% 0.25% 0.17% AXA Conservative Allocation 0.10% 0.25% 0.21% AXA Conservative-Plus Allocation 0.10% 0.25% 0.19% AXA Moderate Allocation 0.10% -- 0.17% AXA Moderate-Plus Allocation 0.10% 0.25% 0.17% Multimanager Aggressive Equity 0.60% -- 0.19% Multimanager Core Bond 0.58% 0.25% 0.18% Multimanager Health Care 1.20% 0.25% 0.23% Multimanager High Yield 0.57% -- 0.19% Multimanager International Equity 1.00% 0.25% 0.23% Multimanager Large Cap Core Equity 0.89% 0.25% 0.21% Multimanager Large Cap Growth 0.90% 0.25% 0.22% Multimanager Large Cap Value 0.87% 0.25% 0.20% Multimanager Mid Cap Growth 1.10% 0.25% 0.20% Multimanager Mid Cap Value 1.09% 0.25% 0.20% Multimanager Small Cap Growth 1.05% 0.25% 0.27% Multimanager Small Cap Value 1.03% 0.25% 0.18% Multimanager Technology 1.20% 0.25% 0.22% Target 2015 Allocation 0.10% 0.25% 1.71% Target 2025 Allocation 0.10% 0.25% 1.41% Target 2035 Allocation 0.10% 0.25% 2.38% Target 2045 Allocation 0.10% 0.25% 2.81% - ------------------------------------------------------------------------------------------- EQ Advisors Trust: - ------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock 0.47% -- 0.13% EQ/AllianceBernstein Intermediate Government Securities 0.50% -- 0.13% EQ/AllianceBernstein International 0.71% -- 0.18% EQ/AllianceBernstein Large Cap Growth 0.90% 0.25% 0.13% EQ/AllianceBernstein Quality Bond 0.50% -- 0.14% EQ/AllianceBernstein Small Cap Growth 0.74% -- 0.13% EQ/AllianceBernstein Value 0.59% -- 0.12% EQ/Ariel Appreciation II(14) 0.75% 0.25% 0.26% EQ/AXA Rosenberg Value Long/Short Equity 1.40% 0.25% 1.91% EQ/BlackRock Basic Value Equity 0.55% 0.25% 0.13% EQ/BlackRock International Value 0.81% 0.25% 0.19% EQ/Boston Advisors Equity Income 0.75% 0.25% 0.14% EQ/Calvert Socially Responsible 0.65% 0.25% 0.23% EQ/Capital Guardian Growth 0.65% 0.25% 0.14% EQ/Capital Guardian Research 0.63% 0.25% 0.13% EQ/Caywood-Scholl High Yield Bond 0.60% 0.25% 0.16% EQ/Davis New York Venture 0.85% 0.25% 0.18% EQ/Equity 500 Index 0.25% -- 0.13% EQ/Evergreen International Bond 0.70% 0.25% 0.17% EQ/Evergreen Omega 0.65% 0.25% 0.25% - ------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------- Total Acquired Annual Net Fund Expenses Fee Waiv- Annual Fees and (Before ers and/or Expenses Expenses Expense Expense (After (Underlying Limita- Reimburse- Expense Portfolio Name Portfolios)(12) tions) ments(13) Limitations) - ----------------------------------------------------------------------------------------------------------- AXA Premier VIP Trust: - ----------------------------------------------------------------------------------------------------------- AXA Aggressive Allocation 0.92% 1.44% (0.17)% 1.27% AXA Conservative Allocation 0.69% 1.25% (0.21)% 1.04% AXA Conservative-Plus Allocation 0.76% 1.30% (0.19)% 1.11% AXA Moderate Allocation 0.82% 1.09% (0.17)% 0.92% AXA Moderate-Plus Allocation 0.86% 1.38% (0.17)% 1.21% Multimanager Aggressive Equity -- 0.79% -- 0.79% Multimanager Core Bond -- 1.01% (0.01)% 1.00% Multimanager Health Care -- 1.68% 0.00% 1.68% Multimanager High Yield -- 0.76% -- 0.76% Multimanager International Equity -- 1.48% 0.00% 1.48% Multimanager Large Cap Core Equity -- 1.35% 0.00% 1.35% Multimanager Large Cap Growth -- 1.37% (0.02)% 1.35% Multimanager Large Cap Value -- 1.32% 0.00% 1.32% Multimanager Mid Cap Growth -- 1.55% 0.00% 1.55% Multimanager Mid Cap Value -- 1.54% 0.00% 1.54% Multimanager Small Cap Growth -- 1.57% (0.02)% 1.55% Multimanager Small Cap Value -- 1.46% 0.00% 1.46% Multimanager Technology 0.01% 1.68% 0.00% 1.68% Target 2015 Allocation 0.55% 2.61% (1.46)% 1.15% Target 2025 Allocation 0.55% 2.31% (1.16)% 1.15% Target 2035 Allocation 0.55% 3.28% (2.13)% 1.15% Target 2045 Allocation 0.55% 3.71% (2.56)% 1.15% - ----------------------------------------------------------------------------------------------------------- EQ Advisors Trust: - ----------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock -- 0.60% -- 0.60% EQ/AllianceBernstein Intermediate Government Securities -- 0.63% -- 0.63% EQ/AllianceBernstein International -- 0.89% (0.04)% 0.85% EQ/AllianceBernstein Large Cap Growth -- 1.28% (0.23)% 1.05% EQ/AllianceBernstein Quality Bond -- 0.64% -- 0.64% EQ/AllianceBernstein Small Cap Growth -- 0.87% -- 0.87% EQ/AllianceBernstein Value -- 0.71% (0.01)% 0.70% EQ/Ariel Appreciation II(14) -- 1.26% (0.11)% 1.15% EQ/AXA Rosenberg Value Long/Short Equity -- 3.56% 0.00% 3.56% EQ/BlackRock Basic Value Equity -- 0.93% 0.00% 0.93% EQ/BlackRock International Value -- 1.25% 0.00% 1.25% EQ/Boston Advisors Equity Income -- 1.14% (0.09)% 1.05% EQ/Calvert Socially Responsible -- 1.13% (0.08)% 1.05% EQ/Capital Guardian Growth 0.01% 1.05% (0.09)% 0.96% EQ/Capital Guardian Research -- 1.01% (0.06)% 0.95% EQ/Caywood-Scholl High Yield Bond -- 1.01% (0.01)% 1.00% EQ/Davis New York Venture -- 1.28% 0.00% 1.28% EQ/Equity 500 Index -- 0.38% -- 0.38% EQ/Evergreen International Bond -- 1.12% 0.00% 1.12% EQ/Evergreen Omega -- 1.15% 0.00% 1.15% - -----------------------------------------------------------------------------------------------------------
14 Fee table
- ------------------------------------------------------------------------------------------------------------------------------------ Total Acquired Annual Net Fund Expenses Fee Waiv- Annual Fees and (Before ers and/or Expenses Manage- Expenses Expense Expense (After ment 12b-1 Other (Underlying Limita- Reimburse- Expense Portfolio Name Fees(9) Fees(10) Expenses(11) Portfolios)(12) tions) ments(13) Limitations) - ------------------------------------------------------------------------------------------------------------------------------------ EQ/FI Mid Cap 0.68% 0.25% 0.13% -- 1.06% (0.06)% 1.00% EQ/Franklin Income 0.90% 0.25% 0.15% -- 1.30% 0.00% 1.30% EQ/Franklin Small Cap Value 0.90% 0.25% 0.18% -- 1.33% (0.03)% 1.30% EQ/Franklin Templeton Founding Strategy 0.05% 0.25% 0.22% 1.05% 1.57% (0.12)% 1.45%(15) EQ/GAMCO Mergers and Acquisitions 0.90% 0.25% 0.19% -- 1.34% 0.00% 1.34% EQ/GAMCO Small Company Value 0.76% 0.25% 0.12% -- 1.13% 0.00% 1.13% EQ/International Core PLUS 0.60% 0.25% 0.30% 0.04% 1.19% (0.05)% 1.14% EQ/International Growth 0.85% 0.25% 0.27% -- 1.37% 0.00% 1.37% EQ/JPMorgan Core Bond 0.43% 0.25% 0.13% -- 0.81% 0.00% 0.81% EQ/JPMorgan Value Opportunities 0.60% 0.25% 0.14% -- 0.99% (0.04)% 0.95% EQ/Large Cap Core PLUS 0.50% 0.25% 0.25% 0.02% 1.02% (0.05)% 0.97% EQ/Large Cap Growth PLUS 0.50% 0.25% 0.24% 0.02% 1.01% (0.04)% 0.97% EQ/Legg Mason Value Equity 0.65% 0.25% 0.17% -- 1.07% (0.07)% 1.00% EQ/Long Term Bond 0.40% 0.25% 0.13% -- 0.78% 0.00% 0.78% EQ/Lord Abbett Growth and Income 0.65% 0.25% 0.16% -- 1.06% (0.06)% 1.00% EQ/Lord Abbett Large Cap Core 0.65% 0.25% 0.21% -- 1.11% (0.11)% 1.00% EQ/Lord Abbett Mid Cap Value 0.70% 0.25% 0.15% -- 1.10% (0.05)% 1.05% EQ/Marsico Focus 0.85% 0.25% 0.13% -- 1.23% (0.08)% 1.15% EQ/Mid Cap Value PLUS 0.55% 0.25% 0.24% 0.02% 1.06% (0.04)% 1.02% EQ/Money Market 0.32% -- 0.13% -- 0.45% -- 0.45% EQ/Montag & Caldwell Growth 0.75% 0.25% 0.15% -- 1.15% 0.00% 1.15% EQ/Mutual Shares 0.90% 0.25% 0.21% -- 1.36% (0.06)% 1.30% EQ/Oppenheimer Global 0.95% 0.25% 0.51% 0.01% 1.72% (0.36)% 1.36% EQ/Oppenheimer Main Street Opportunity 0.85% 0.25% 0.45% 0.01% 1.56% (0.25)% 1.31% EQ/Oppenheimer Main Street Small Cap 0.90% 0.25% 0.48% 0.01% 1.64% (0.33)% 1.31% EQ/PIMCO Real Return 0.55% 0.25% 0.14% -- 0.94% (0.04)% 0.90% EQ/Short Duration Bond 0.43% 0.25% 0.15% -- 0.83% 0.00% 0.83% EQ/Small Company Index 0.25% 0.25% 0.14% -- 0.64% 0.00% 0.64% EQ/T. Rowe Price Growth Stock 0.79% 0.25% 0.14% -- 1.18% (0.03)% 1.15% EQ/Templeton Growth 0.95% 0.25% 0.20% -- 1.40% (0.05)% 1.35% EQ/UBS Growth and Income 0.75% 0.25% 0.16% -- 1.16% (0.11)% 1.05% EQ/Van Kampen Comstock 0.65% 0.25% 0.15% -- 1.05% (0.05)% 1.00% EQ/Van Kampen Emerging Markets Equity 1.11% 0.25% 0.28% -- 1.64% 0.00% 1.64% EQ/Van Kampen Mid Cap Growth 0.70% 0.25% 0.15% -- 1.10% (0.05)% 1.05% EQ/Van Kampen Real Estate 0.90% 0.25% 0.21% -- 1.36% (0.10)% 1.26% - ------------------------------------------------------------------------------------------------------------------------------------
Notes: (1) Important exceptions and limitations may eliminate or reduce this charge. For a complete description of withdrawal charges, please see "Withdrawal charges" in "Charges and expenses" later in this prospectus. (2) For series 300 and 400 contracts, during the first two contract years, this charge, if it applies, is equal to the lesser of $30 or 2% of your account value plus any amount previously withdrawn during the contract year. Thereafter, the charge is $30 for each contract year. (3) We charge interest on loans under your contract but also credit you interest on your loan reserve account. Our net loan interest charge is determined by the excess between the interest rate we charge over the interest rate we credit. See "Loans" under "Accessing your money" later in this Prospectus for more information on how the loan interest is calculated and for restrictions that may apply. (4) A portion of this charge is for providing the death benefit. (5) For series 100 and 200 contracts, this charge is for financial accounting and other administrative services relating to the contract. (6) For series 100 and 200 contracts, the total Separate Account A annual expenses of the variable investment options and total annual expenses of the Trust when added together are not permitted to exceed an annual rate of 1.75% for the AXA Moderate Allocation, Multimanager Aggressive Equity, EQ/AllianceBernstein Common Stock, and EQ/Money Market options. Without this expense limitation, the total annual expenses deducted from the variable investment option plus the Trust's annual expenses for 2007 would have been 2.43% for the AXA Moderate Allocation option; 2.13% for the Multimanager Aggressive Equity option; 2.00% for the EQ/AllianceBernstein Common Stock option; and 1.85% for the EQ/Money Market option. (7) For all variable investment options other than AXA Moderate Allocation, Multimanager Aggressive Equity, EQ/AllianceBernstein Common Stock and EQ/Money Market. (8) "Total Annual Portfolio Operating Expenses" are based, in part, on estimated expense amounts for options added during the fiscal year 2007 and for the underlying portfolios. (9) The management fees for each portfolio cannot be increased without a vote of that portfolio's shareholders. See footnote (13) for any expense limitation agreement information. (10) Portfolio shares are subject to fees imposed under the distribution plans (the "Rule 12b-1 Plan") adopted by the Trusts pursuant to Rule 12b-1 under the Investment Company Act of 1940. For the portfolios of the AXA Premier VIP Trust and the EQ Advisors Trust, the 12b-1 fees will not be increased for the life of the contract. A "--" indicates that there is no Rule 12b-1 Plan in place for the portfolio shown. Fee table 15 (11) The amounts shown as "Other Expenses" will fluctuate from year to year depending on actual expenses. See footnote (13) for any expense limitation agreement information. (12) Each of these variable investment options invests in a corresponding portfolio of one of the Trusts or other unaffiliated investment companies. Each portfolio, in turn, invests in shares of other portfolios of the Trusts and/or shares of unaffiliated portfolios ("underlying portfolios"). Amounts shown reflect each portfolio's pro rata share of the fees and expenses of the underlying portfolio(s) in which it invests. A "--" indicates that the listed portfolio does not invest in underlying portfolios. (13) The amounts shown reflect any fee waivers and/or expense reimbursements that apply to each portfolio. A "--" indicates that there is no expense limitation in effect, and "0.00%" indicates that the expense limitation arrangement did not result in a fee waiver or reimbursement. AXA Equitable, the investment manager of AXA Premier VIP Trust and EQ Advisors Trust, has entered into expense limitation agreements with respect to certain portfolios, which are effective through April 30, 2009 (unless the Board of trustees of AXA Premier VIP Trust or EQ Advisors Trust, as applicable, consents to an earlier revision or termination of this arrangement). Under these agreements, AXA Equitable has agreed to waive or limit its fees and assume other expenses of certain portfolios, if necessary, in an amount that limits such portfolio's Total Annual Expenses (exclusive of interest, taxes, brokerage commissions, capitalized expenditures, expenses of the underlying portfolios in which the portfolio invests and extraordinary expenses) to not more than the amounts specified in the agreements. Therefore, each portfolio may at a later date make a reimbursement to AXA Equitable for any of the management fees waived or limited and other expenses assumed and paid by AXA Equitable pursuant to the expense limitation agreements provided that the portfolio's current annual operating expenses do not exceed the operating expense limit determined for such portfolio. See the prospectus for each applicable underlying Trust for more information about the arrangements. In addition, a portion of the brokerage commissions of certain portfolios of AXA Premier VIP Trust and EQ Advisors Trust is used to reduce the applicable portfolio's expenses. If the above table reflected both the expense limitation arrangements plus the portion of the brokerage commissions used to reduce portfolio expenses, the net expenses would be as shown in the table below:
- ------------------------------------------------- Portfolio Name - ------------------------------------------------- Multimanager Aggressive Equity 0.72% - ------------------------------------------------- Multimanager Health Care 1.67% - ------------------------------------------------- Multimanager Large Cap Core Equity 1.34% - ------------------------------------------------- Multimanager Large Cap Growth 1.29% - ------------------------------------------------- Multimanager Large Cap Value 1.26% - ------------------------------------------------- Multimanager Mid Cap Growth 1.52% - ------------------------------------------------- Multimanager Mid Cap Value 1.53% - ------------------------------------------------- Multimanager Small Cap Growth 1.35% - ------------------------------------------------- Multimanager Small Cap Value 1.45% - ------------------------------------------------- Multimanager Technology 1.67% - ------------------------------------------------- EQ/AllianceBernstein Common Stock 0.59% - ------------------------------------------------- EQ/AllianceBernstein Large Cap Growth 1.03% - ------------------------------------------------- EQ/AllianceBernstein Small Cap Growth 0.86% - ------------------------------------------------- EQ/AllianceBernstein Value 0.62% - ------------------------------------------------- EQ/Ariel Appreciation II 1.09% - ------------------------------------------------- EQ/BlackRock Basic Value Equity 0.92% - ------------------------------------------------- EQ/Davis New York Venture 1.25% - ------------------------------------------------- EQ/Evergreen Omega 1.12% - ------------------------------------------------- EQ/GAMCO Mergers and Acquisitions 1.33% - ------------------------------------------------- EQ/GAMCO Small Company Value 1.10% - ------------------------------------------------- EQ/International Core PLUS 1.05% - ------------------------------------------------- EQ/Large Cap Core PLUS 0.83% - ------------------------------------------------- EQ/Large Cap Growth PLUS 0.82% - ------------------------------------------------- EQ/Legg Mason Value Equity 0.97% - ------------------------------------------------- EQ/Lord Abbett Growth and Income 0.98% - ------------------------------------------------- EQ/Lord Abbett Large Cap Core 0.99% - ------------------------------------------------- EQ/Lord Abbett Mid Cap Value 1.04% - ------------------------------------------------- EQ/Mid Cap Value PLUS 0.81% - ------------------------------------------------- EQ/Montag & Caldwell Growth 1.13% - ------------------------------------------------- EQ/T. Rowe Price Growth Stock 0.87% - ------------------------------------------------- EQ/UBS Growth and Income 1.04% - ------------------------------------------------- EQ/Van Kampen Comstock 0.99% - ------------------------------------------------- EQ/Van Kampen Mid Cap Growth 1.04% - -------------------------------------------------
(14) The EQ/Ariel Appreciation II option is not available under EDC and TSA contracts. (15) In addition to the fee waiver and/or expense reimbursement discussed in the footnote immediately above, AXA Equitable, voluntarily will waive all its management and adminis tration fees and reimburse all other expenses associated with the EQ/Franklin Templeton Founding Strategy Portfolio ("Portfolio") (exclusive of taxes, interest, brokerage commissions, capitalized expenses, expenses of the investment companies in which the Portfolio invests, Rule 12b-1 fees and extraordinary expenses). Accordingly, the Total Annual Operating Expenses (including Acquired Fund Fees and Expenses), taking into account the voluntary waiver by AXA Equitable, will be 1.30%. The voluntary waiver by AXA Equitable will remain in effect until April 30, 2009. EXAMPLES These examples are intended to help you compare the cost of investing in each type of EQUI-VEST(SM) series contract with the cost of investing in other variable annuity contracts. These costs include contract owner transaction expenses, contract fees, separate account annual expenses, and underlying Trust fees and expenses (including underlying portfolio fees and expenses). For a complete description of portfolio charges and expenses, please see the prospectus for each Trust. 16 Fee table The examples below show the expenses that a hypothetical contract owner would pay in the situations illustrated. The examples use an average annual administrative charge based on charges paid in 2007, which results in an estimated annual charge of 0.0643% of contract value. The fixed maturity options and the guaranteed interest option are not covered by the fee table and examples. However, the annual administrative charge, the withdrawal charge, the third-party transfer or exchange charge, and the charge if you elect a Variable Immediate Annuity payout option do apply to the fixed maturity options and the guaranteed interest option. A market value adjustment (up or down) will apply as a result of a withdrawal, transfer, or surrender of amounts from a fixed maturity option. These examples should not be considered a representation of past or future expenses for any option. 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. The examples assume that you invest $10,000 in the contract for the time periods indicated and that your investment has a 5% return each year. The examples also assume (i) maximum contract charges rather than the lower current expenses discussed in "Charges and expenses" later in this prospectus (except the annual administrative charge which is described above); (ii) the total annual expenses of the portfolios (before expense limitations) set forth in the previous tables; and (iii) there is no waiver of the withdrawal charge. Although your actual costs may be higher or lower, based on these assumptions, your costs would be: Fee table 17 EQUI-VEST(SM) SERIES 100 AND 200 CONTRACTS -- FOR TSA, UNIVERSITY TSA, SEP, SARSEP, EDC AND ANNUITANT-OWNED HR-10 CONTRACTS:
- ------------------------------------------------------------------------------------------------------ If you surrender your contract at the end of the applicable time period -------------------------------------------- 1 year 3 years 5 years 10 years - ------------------------------------------------------------------------------------------------------ AXA PREMIER VIP TRUST: - ------------------------------------------------------------------------------------------------------ AXA Aggressive Allocation $ 849 $1,487 $2,150 $3,600 AXA Conservative Allocation $ 830 $1,431 $2,058 $3,416 AXA Conservative-Plus Allocation $ 835 $1,446 $2,083 $3,465 AXA Moderate Allocation $ 747 $1,181 $1,642 $2,558 AXA Moderate-Plus Allocation $ 843 $1,469 $2,121 $3,542 Multimanager Aggressive Equity $ 747 $1,181 $1,642 $2,558 Multimanager Core Bond $ 807 $1,360 $1,941 $3,178 Multimanager Health Care $ 873 $1,557 $2,266 $3,827 Multimanager High Yield $ 782 $1,286 $1,817 $2,925 Multimanager International Equity $ 853 $1,499 $2,170 $3,638 Multimanager Large Cap Core Equity $ 840 $1,460 $2,107 $3,513 Multimanager Large Cap Growth $ 842 $1,466 $2,116 $3,533 Multimanager Large Cap Value $ 837 $1,452 $2,092 $3,484 Multimanager Mid Cap Growth $ 860 $1,519 $2,203 $3,705 Multimanager Mid Cap Value $ 859 $1,516 $2,199 $3,695 Multimanager Small Cap Growth $ 862 $1,525 $2,213 $3,724 Multimanager Small Cap Value $ 851 $1,493 $2,160 $3,619 Multimanager Technology $ 873 $1,557 $2,266 $3,827 Target 2015 Allocation $ 965 $1,827 $2,701 $4,657 Target 2025 Allocation $ 936 $1,740 $2,563 $4,398 Target 2035 Allocation $1,032 $2,017 $3,004 $5,206 Target 2045 Allocation $1,075 $2,138 $3,194 $5,539 - ------------------------------------------------------------------------------------------------------ EQ ADVISORS TRUST: - ------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Common Stock $ 747 $1,181 $1,642 $2,558 EQ/AllianceBernstein Intermediate Government Securities $ 769 $1,247 $1,752 $2,790 EQ/AllianceBernstein International $ 795 $1,324 $1,882 $3,057 EQ/AllianceBernstein Large Cap Growth $ 833 $1,440 $2,073 $3,445 EQ/AllianceBernstein Quality Bond $ 770 $1,250 $1,757 $2,801 EQ/AllianceBernstein Small Cap Growth $ 793 $1,318 $1,872 $3,037 EQ/AllianceBernstein Value $ 777 $1,271 $1,792 $2,873 EQ/Ariel Appreciation II $ 831 $1,434 $2,063 $3,426 EQ/AXA Rosenberg Value Long/Short Equity $1,060 $2,096 $3,128 $5,425 EQ/BlackRock Basic Value Equity $ 799 $1,336 $1,901 $3,098 EQ/BlackRock International Value $ 830 $1,431 $2,058 $3,416 EQ/Boston Advisors Equity Income $ 820 $1,398 $2,005 $3,308 EQ/Calvert Socially Responsible $ 819 $1,395 $2,000 $3,298 EQ/Capital Guardian Growth $ 811 $1,372 $1,960 $3,218 EQ/Capital Guardian Research $ 807 $1,360 $1,941 $3,178 EQ/Caywood-Scholl High Yield Bond $ 807 $1,360 $1,941 $3,178 EQ/Davis New York Venture $ 833 $1,440 $2,073 $3,445 EQ/Equity 500 Index $ 744 $1,172 $1,626 $2,526 EQ/Evergreen International Bond $ 818 $1,392 $1,995 $3,288 - ------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------ If you annuitize at the end of the applicable time period(1) --------------------------------------------- 1 year 3 years 5 years 10 years - ------------------------------------------------------------------------------------------------------ AXA PREMIER VIP TRUST: - ------------------------------------------------------------------------------------------------------ AXA Aggressive Allocation N/A $1,487 $2,150 $3,600 AXA Conservative Allocation N/A $1,431 $2,058 $3,416 AXA Conservative-Plus Allocation N/A $1,446 $2,083 $3,465 AXA Moderate Allocation N/A $1,181 $1,642 $2,558 AXA Moderate-Plus Allocation N/A $1,469 $2,121 $3,542 Multimanager Aggressive Equity N/A $1,181 $1,642 $2,558 Multimanager Core Bond N/A $1,360 $1,941 $3,178 Multimanager Health Care N/A $1,557 $2,266 $3,827 Multimanager High Yield N/A $1,286 $1,817 $2,925 Multimanager International Equity N/A $1,499 $2,170 $3,638 Multimanager Large Cap Core Equity N/A $1,460 $2,107 $3,513 Multimanager Large Cap Growth N/A $1,466 $2,116 $3,533 Multimanager Large Cap Value N/A $1,452 $2,092 $3,484 Multimanager Mid Cap Growth N/A $1,519 $2,203 $3,705 Multimanager Mid Cap Value N/A $1,516 $2,199 $3,695 Multimanager Small Cap Growth N/A $1,525 $2,213 $3,724 Multimanager Small Cap Value N/A $1,493 $2,160 $3,619 Multimanager Technology N/A $1,557 $2,266 $3,827 Target 2015 Allocation N/A $1,827 $2,701 $4,657 Target 2025 Allocation N/A $1,740 $2,563 $4,398 Target 2035 Allocation N/A $2,017 $3,004 $5,206 Target 2045 Allocation N/A $2,138 $3,194 $5,539 - ------------------------------------------------------------------------------------------------------ EQ ADVISORS TRUST: - ------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Common Stock N/A $1,181 $1,642 $2,558 EQ/AllianceBernstein Intermediate Government Securities N/A $1,247 $1,752 $2,790 EQ/AllianceBernstein International N/A $1,324 $1,882 $3,057 EQ/AllianceBernstein Large Cap Growth N/A $1,440 $2,073 $3,445 EQ/AllianceBernstein Quality Bond N/A $1,250 $1,757 $2,801 EQ/AllianceBernstein Small Cap Growth N/A $1,318 $1,872 $3,037 EQ/AllianceBernstein Value N/A $1,271 $1,792 $2,873 EQ/Ariel Appreciation II N/A $1,434 $2,063 $3,426 EQ/AXA Rosenberg Value Long/Short Equity N/A $2,096 $3,128 $5,425 EQ/BlackRock Basic Value Equity N/A $1,336 $1,901 $3,098 EQ/BlackRock International Value N/A $1,431 $2,058 $3,416 EQ/Boston Advisors Equity Income N/A $1,398 $2,005 $3,308 EQ/Calvert Socially Responsible N/A $1,395 $2,000 $3,298 EQ/Capital Guardian Growth N/A $1,372 $1,960 $3,218 EQ/Capital Guardian Research N/A $1,360 $1,941 $3,178 EQ/Caywood-Scholl High Yield Bond N/A $1,360 $1,941 $3,178 EQ/Davis New York Venture N/A $1,440 $2,073 $3,445 EQ/Equity 500 Index N/A $1,172 $1,626 $2,526 EQ/Evergreen International Bond N/A $1,392 $1,995 $3,288 - ------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------ If you do not surrender your contract at the end of the applicable time period ----------------------------------------------- 1 year 3 years 5 years 10 years - ------------------------------------------------------------------------------------------------------ AXA PREMIER VIP TRUST: - ------------------------------------------------------------------------------------------------------ AXA Aggressive Allocation $298 $ 914 $1,554 $3,270 AXA Conservative Allocation $279 $ 854 $1,456 $3,080 AXA Conservative-Plus Allocation $284 $ 870 $1,482 $3,130 AXA Moderate Allocation $190 $ 589 $1,013 $2,192 AXA Moderate-Plus Allocation $292 $ 895 $1,523 $3,211 Multimanager Aggressive Equity $190 $ 589 $1,013 $2,192 Multimanager Core Bond $253 $ 779 $1,331 $2,834 Multimanager Health Care $324 $ 988 $1,676 $3,506 Multimanager High Yield $227 $ 700 $1,199 $2,571 Multimanager International Equity $303 $ 926 $1,574 $3,310 Multimanager Large Cap Core Equity $289 $ 885 $1,507 $3,181 Multimanager Large Cap Growth $291 $ 892 $1,518 $3,201 Multimanager Large Cap Value $286 $ 876 $1,492 $3,150 Multimanager Mid Cap Growth $310 $ 948 $1,610 $3,379 Multimanager Mid Cap Value $309 $ 945 $1,605 $3,369 Multimanager Small Cap Growth $312 $ 954 $1,620 $3,399 Multimanager Small Cap Value $301 $ 920 $1,564 $3,290 Multimanager Technology $324 $ 988 $1,676 $3,506 Target 2015 Allocation $421 $1,274 $2,140 $4,365 Target 2025 Allocation $390 $1,182 $1,992 $4,097 Target 2035 Allocation $492 $1,476 $2,462 $4,934 Target 2045 Allocation $537 $1,604 $2,664 $5,279 - ------------------------------------------------------------------------------------------------------ EQ ADVISORS TRUST: - ------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Common Stock $190 $ 589 $1,013 $2,192 EQ/AllianceBernstein Intermediate Government Securities $213 $ 659 $1,130 $2,432 EQ/AllianceBernstein International $241 $ 741 $1,268 $2,709 EQ/AllianceBernstein Large Cap Growth $282 $ 864 $1,471 $3,110 EQ/AllianceBernstein Quality Bond $215 $ 662 $1,136 $2,443 EQ/AllianceBernstein Small Cap Growth $239 $ 735 $1,257 $2,688 EQ/AllianceBernstein Value $222 $ 684 $1,173 $2,518 EQ/Ariel Appreciation II $280 $ 857 $1,461 $3,090 EQ/AXA Rosenberg Value Long/Short Equity $521 $1,559 $2,594 $5,160 EQ/BlackRock Basic Value Equity $245 $ 754 $1,289 $2,751 EQ/BlackRock International Value $279 $ 854 $1,456 $3,080 EQ/Boston Advisors Equity Income $267 $ 820 $1,399 $2,968 EQ/Calvert Socially Responsible $266 $ 817 $1,393 $2,958 EQ/Capital Guardian Growth $258 $ 791 $1,352 $2,875 EQ/Capital Guardian Research $253 $ 779 $1,331 $2,834 EQ/Caywood-Scholl High Yield Bond $253 $ 779 $1,331 $2,834 EQ/Davis New York Venture $282 $ 864 $1,471 $3,110 EQ/Equity 500 Index $187 $ 579 $ 997 $2,159 EQ/Evergreen International Bond $265 $ 813 $1,388 $2,947 - ------------------------------------------------------------------------------------------------------
18 Fee table
- ---------------------------------------------------------------------------------------------------------------------------------- If you surrender your contract at the end of the If you annuitize at the end of the applicable time period applicable time period(1) ---------------------------------------------------------------------------------------- 1 year 3 years 5 years 10 years 1 year 3 years 5 years 10 years - ---------------------------------------------------------------------------------------------------------------------------------- EQ ADVISORS TRUST: - ---------------------------------------------------------------------------------------------------------------------------------- EQ/Evergreen Omega $821 $1,401 $2,009 $3,318 N/A $1,401 $2,009 $3,318 EQ/FI Mid Cap $812 $1,375 $1,965 $3,228 N/A $1,375 $1,965 $3,228 EQ/Franklin Income $835 $1,446 $2,083 $3,465 N/A $1,446 $2,083 $3,465 EQ/Franklin Small Cap Value $838 $1,454 $2,097 $3,494 N/A $1,454 $2,097 $3,494 EQ/Franklin Templeton Founding Strategy $862 $1,525 $2,213 $3,724 N/A $1,525 $2,213 $3,724 EQ/GAMCO Mergers and Acquisitions $839 $1,457 $2,102 $3,504 N/A $1,457 $2,102 $3,504 EQ/GAMCO Small Company Value $819 $1,395 $2,000 $3,298 N/A $1,395 $2,000 $3,298 EQ/International Core PLUS $825 $1,413 $2,029 $3,357 N/A $1,413 $2,029 $3,357 EQ/International Growth $842 $1,466 $2,116 $3,533 N/A $1,466 $2,116 $3,533 EQ/JPMorgan Core Bond $787 $1,300 $1,842 $2,976 N/A $1,300 $1,842 $2,976 EQ/JPMorgan Value Opportunities $805 $1,354 $1,931 $3,158 N/A $1,354 $1,931 $3,158 EQ/Large Cap Core PLUS $808 $1,363 $1,946 $3,188 N/A $1,363 $1,946 $3,188 EQ/Large Cap Growth PLUS $807 $1,360 $1,941 $3,178 N/A $1,360 $1,941 $3,178 EQ/Legg Mason Value Equity $813 $1,378 $1,970 $3,238 N/A $1,378 $1,970 $3,238 EQ/Long Term Bond $784 $1,291 $1,827 $2,945 N/A $1,291 $1,827 $2,945 EQ/Lord Abbett Growth and Income $812 $1,375 $1,965 $3,228 N/A $1,375 $1,965 $3,228 EQ/Lord Abbett Large Cap Core $817 $1,390 $1,990 $3,278 N/A $1,390 $1,990 $3,278 EQ/Lord Abbett Mid Cap Value $816 $1,387 $1,985 $3,268 N/A $1,387 $1,985 $3,268 EQ/Marsico Focus $828 $1,425 $2,048 $3,396 N/A $1,425 $2,048 $3,396 EQ/Mid Cap Value PLUS $812 $1,375 $1,965 $3,228 N/A $1,375 $1,965 $3,228 EQ/Money Market $747 $1,181 $1,642 $2,558 N/A $1,181 $1,642 $2,558 EQ/Montag & Caldwell Growth $821 $1,401 $2,009 $3,318 N/A $1,401 $2,009 $3,318 EQ/Mutual Shares $841 $1,463 $2,112 $3,523 N/A $1,463 $2,112 $3,523 EQ/Oppenheimer Global $877 $1,569 $2,285 $3,865 N/A $1,569 $2,285 $3,865 EQ/Oppenheimer Main Street Opportunity $861 $1,522 $2,208 $3,714 N/A $1,522 $2,208 $3,714 EQ/Oppenheimer Main Street Small Cap $869 $1,546 $2,247 $3,790 N/A $1,546 $2,247 $3,790 EQ/PIMCO Real Return $800 $1,339 $1,906 $3,108 N/A $1,339 $1,906 $3,108 EQ/Short Duration Bond $789 $1,306 $1,852 $2,996 N/A $1,306 $1,852 $2,996 EQ/Small Company Index $770 $1,250 $1,757 $2,801 N/A $1,250 $1,757 $2,801 EQ/T. Rowe Price Growth Stock $824 $1,410 $2,024 $3,347 N/A $1,410 $2,024 $3,347 EQ/Templeton Growth $845 $1,475 $2,131 $3,562 N/A $1,475 $2,131 $3,562 EQ/UBS Growth and Income $822 $1,404 $2,014 $3,328 N/A $1,404 $2,014 $3,328 EQ/Van Kampen Comstock $811 $1,372 $1,960 $3,218 N/A $1,372 $1,960 $3,218 EQ/Van Kampen Emerging Markets Equity $869 $1,546 $2,247 $3,790 N/A $1,546 $2,247 $3,790 EQ/Van Kampen Mid Cap Growth $816 $1,387 $1,985 $3,268 N/A $1,387 $1,985 $3,268 EQ/Van Kampen Real Estate $841 $1,463 $2,112 $3,523 N/A $1,463 $2,112 $3,523 - ---------------------------------------------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------- If you do not surrender your contract at the end of the applicable time period ------------------------------------------- 1 year 3 years 5 years 10 years - ------------------------------------------------------------------------------------- EQ ADVISORS TRUST: - ------------------------------------------------------------------------------------- EQ/Evergreen Omega $268 $ 823 $1,404 $2,978 EQ/FI Mid Cap $259 $ 795 $1,357 $2,886 EQ/Franklin Income $284 $ 870 $1,482 $3,130 EQ/Franklin Small Cap Value $287 $ 879 $1,497 $3,161 EQ/Franklin Templeton Founding Strategy $312 $ 954 $1,620 $3,399 EQ/GAMCO Mergers and Acquisitions $288 $ 882 $1,502 $3,171 EQ/GAMCO Small Company Value $266 $ 817 $1,393 $2,958 EQ/International Core PLUS $272 $ 835 $1,425 $3,019 EQ/International Growth $291 $ 892 $1,518 $3,201 EQ/JPMorgan Core Bond $232 $ 716 $1,226 $2,624 EQ/JPMorgan Value Opportunities $251 $ 773 $1,320 $2,813 EQ/Large Cap Core PLUS $254 $ 782 $1,336 $2,844 EQ/Large Cap Growth PLUS $253 $ 779 $1,331 $2,834 EQ/Legg Mason Value Equity $260 $ 798 $1,362 $2,896 EQ/Long Term Bond $229 $ 706 $1,210 $2,593 EQ/Lord Abbett Growth and Income $259 $ 795 $1,357 $2,886 EQ/Lord Abbett Large Cap Core $264 $ 810 $1,383 $2,937 EQ/Lord Abbett Mid Cap Value $263 $ 807 $1,378 $2,927 EQ/Marsico Focus $276 $ 848 $1,445 $3,060 EQ/Mid Cap Value PLUS $259 $ 795 $1,357 $2,886 EQ/Money Market $190 $ 589 $1,013 $2,192 EQ/Montag & Caldwell Growth $268 $ 823 $1,404 $2,978 EQ/Mutual Shares $290 $ 889 $1,513 $3,191 EQ/Oppenheimer Global $328 $1,001 $1,697 $3,544 EQ/Oppenheimer Main Street Opportunity $311 $ 951 $1,615 $3,389 EQ/Oppenheimer Main Street Small Cap $319 $ 976 $1,656 $3,467 EQ/PIMCO Real Return $246 $ 757 $1,294 $2,761 EQ/Short Duration Bond $234 $ 722 $1,236 $2,645 EQ/Small Company Index $215 $ 662 $1,136 $2,443 EQ/T. Rowe Price Growth Stock $271 $ 832 $1,419 $3,009 EQ/Templeton Growth $294 $ 901 $1,533 $3,231 EQ/UBS Growth and Income $269 $ 826 $1,409 $2,988 EQ/Van Kampen Comstock $258 $ 791 $1,352 $2,875 EQ/Van Kampen Emerging Markets Equity $319 $ 976 $1,656 $3,467 EQ/Van Kampen Mid Cap Growth $263 $ 807 $1,378 $2,927 EQ/Van Kampen Real Estate $290 $ 889 $1,513 $3,191 - -------------------------------------------------------------------------------------
(1) Please see "When withdrawal charges do not apply" in "Charges and expenses" later in this prospectus for more information on withdrawal charge waivers upon annuitization. Fee table 19 EQUI-VEST(SM) SERIES 200 TRUSTEED CONTRACTS
- ------------------------------------------------------------------------------------------------------ If you surrender your contract at the end of the applicable time period --------------------------------------------- 1 year 3 years 5 years 10 years - ------------------------------------------------------------------------------------------------------ AXA PREMIER VIP TRUST: - ------------------------------------------------------------------------------------------------------ AXA Aggressive Allocation $ 849 $1,487 $2,150 $3,270 AXA Conservative Allocation $ 830 $1,431 $2,056 $3,080 AXA Conservative-Plus Allocation $ 835 $1,446 $2,082 $3,130 AXA Moderate Allocation $ 747 $1,181 $1,613 $2,192 AXA Moderate-Plus Allocation $ 843 $1,469 $2,121 $3,211 Multimanager Aggressive Equity $ 747 $1,181 $1,613 $2,192 Multimanager Core Bond $ 807 $1,360 $1,931 $2,834 Multimanager Health Care $ 873 $1,557 $2,266 $3,506 Multimanager High Yield $ 782 $1,286 $1,799 $2,571 Multimanager International Equity $ 853 $1,499 $2,170 $3,310 Multimanager Large Cap Core Equity $ 840 $1,460 $2,107 $3,181 Multimanager Large Cap Growth $ 842 $1,466 $2,116 $3,201 Multimanager Large Cap Value $ 837 $1,452 $2,092 $3,150 Multimanager Mid Cap Growth $ 860 $1,519 $2,203 $3,379 Multimanager Mid Cap Value $ 859 $1,516 $2,199 $3,369 Multimanager Small Cap Growth $ 862 $1,525 $2,213 $3,399 Multimanager Small Cap Value $ 851 $1,493 $2,160 $3,290 Multimanager Technology $ 873 $1,557 $2,266 $3,506 Target 2015 Allocation $ 965 $1,827 $2,701 $4,365 Target 2025 Allocation $ 936 $1,740 $2,563 $4,097 Target 2035 Allocation $1,032 $2,017 $3,004 $4,934 Target 2045 Allocation $1,075 $2,138 $3,194 $5,279 - ------------------------------------------------------------------------------------------------------ EQ ADVISORS TRUST: - ------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Common Stock $ 747 $1,181 $1,613 $2,192 EQ/AllianceBernstein Intermediate Government Securities $ 769 $1,247 $1,730 $2,432 EQ/AllianceBernstein International $ 795 $1,324 $1,868 $2,709 EQ/AllianceBernstein Large Cap Growth $ 833 $1,440 $2,071 $3,110 EQ/AllianceBernstein Quality Bond $ 770 $1,250 $1,736 $2,443 EQ/AllianceBernstein Small Cap Growth $ 793 $1,318 $1,857 $2,688 EQ/AllianceBernstein Value $ 777 $1,271 $1,773 $2,518 EQ/Ariel Appreciation II $ 831 $1,434 $2,061 $3,090 EQ/AXA Rosenberg Value Long/Short Equity $1,060 $2,096 $3,128 $5,160 EQ/BlackRock Basic Value Equity $ 799 $1,336 $1,889 $2,751 EQ/BlackRock International Value $ 830 $1,431 $2,056 $3,080 EQ/Boston Advisors Equity Income $ 820 $1,398 $1,999 $2,968 EQ/Calvert Socially Responsible $ 819 $1,395 $1,993 $2,958 EQ/Capital Guardian Growth $ 811 $1,372 $1,952 $2,875 EQ/Capital Guardian Research $ 807 $1,360 $1,931 $2,834 EQ/Caywood-Scholl High Yield Bond $ 807 $1,360 $1,931 $2,834 EQ/Davis New York Venture $ 833 $1,440 $2,071 $3,110 EQ/Equity 500 Index $ 744 $1,172 $1,597 $2,159 EQ/Evergreen International Bond $ 818 $1,392 $1,988 $2,947 EQ/Evergreen Omega $ 821 $1,401 $2,004 $2,978 EQ/FI Mid Cap $ 812 $1,375 $1,957 $2,886 - ------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------ If you annuitize at the end of the applicable time period(1) --------------------------------------------- 1 year 3 years 5 years 10 years - ------------------------------------------------------------------------------------------------------ AXA PREMIER VIP TRUST: - ------------------------------------------------------------------------------------------------------ AXA Aggressive Allocation N/A $1,487 $2,150 $3,270 AXA Conservative Allocation N/A $1,431 $2,056 $3,080 AXA Conservative-Plus Allocation N/A $1,446 $2,082 $3,130 AXA Moderate Allocation N/A $1,181 $1,613 $2,192 AXA Moderate-Plus Allocation N/A $1,469 $2,121 $3,211 Multimanager Aggressive Equity N/A $1,181 $1,613 $2,192 Multimanager Core Bond N/A $1,360 $1,931 $2,834 Multimanager Health Care N/A $1,557 $2,266 $3,506 Multimanager High Yield N/A $1,286 $1,799 $2,571 Multimanager International Equity N/A $1,499 $2,170 $3,310 Multimanager Large Cap Core Equity N/A $1,460 $2,107 $3,181 Multimanager Large Cap Growth N/A $1,466 $2,116 $3,201 Multimanager Large Cap Value N/A $1,452 $2,092 $3,150 Multimanager Mid Cap Growth N/A $1,519 $2,203 $3,379 Multimanager Mid Cap Value N/A $1,516 $2,199 $3,369 Multimanager Small Cap Growth N/A $1,525 $2,213 $3,399 Multimanager Small Cap Value N/A $1,493 $2,160 $3,290 Multimanager Technology N/A $1,557 $2,266 $3,506 Target 2015 Allocation N/A $1,827 $2,701 $4,365 Target 2025 Allocation N/A $1,740 $2,563 $4,097 Target 2035 Allocation N/A $2,017 $3,004 $4,934 Target 2045 Allocation N/A $2,138 $3,194 $5,279 - ------------------------------------------------------------------------------------------------------ EQ ADVISORS TRUST: - ------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Common Stock N/A $1,181 $1,613 $2,192 EQ/AllianceBernstein Intermediate Government Securities N/A $1,247 $1,730 $2,432 EQ/AllianceBernstein International N/A $1,324 $1,868 $2,709 EQ/AllianceBernstein Large Cap Growth N/A $1,440 $2,071 $3,110 EQ/AllianceBernstein Quality Bond N/A $1,250 $1,736 $2,443 EQ/AllianceBernstein Small Cap Growth N/A $1,318 $1,857 $2,688 EQ/AllianceBernstein Value N/A $1,271 $1,773 $2,518 EQ/Ariel Appreciation II N/A $1,434 $2,061 $3,090 EQ/AXA Rosenberg Value Long/Short Equity N/A $2,096 $3,128 $5,160 EQ/BlackRock Basic Value Equity N/A $1,336 $1,889 $2,751 EQ/BlackRock International Value N/A $1,431 $2,056 $3,080 EQ/Boston Advisors Equity Income N/A $1,398 $1,999 $2,968 EQ/Calvert Socially Responsible N/A $1,395 $1,993 $2,958 EQ/Capital Guardian Growth N/A $1,372 $1,952 $2,875 EQ/Capital Guardian Research N/A $1,360 $1,931 $2,834 EQ/Caywood-Scholl High Yield Bond N/A $1,360 $1,931 $2,834 EQ/Davis New York Venture N/A $1,440 $2,071 $3,110 EQ/Equity 500 Index N/A $1,172 $1,597 $2,159 EQ/Evergreen International Bond N/A $1,392 $1,988 $2,947 EQ/Evergreen Omega N/A $1,401 $2,004 $2,978 EQ/FI Mid Cap N/A $1,375 $1,957 $2,886 - ------------------------------------------------------------------------------------------------------ - ----------------------------------------------------------------------------------------------------- If you do not surrender your contract at the end of the applicable time period --------------------------------------------- 1 year 3 years 5 years 10 years - ----------------------------------------------------------------------------------------------------- AXA PREMIER VIP TRUST: - ----------------------------------------------------------------------------------------------------- AXA Aggressive Allocation $298 $ 914 $1,554 $3,270 AXA Conservative Allocation $279 $ 854 $1,456 $3,080 AXA Conservative-Plus Allocation $284 $ 870 $1,482 $3,130 AXA Moderate Allocation $190 $ 589 $1,013 $2,192 AXA Moderate-Plus Allocation $292 $ 895 $1,523 $3,211 Multimanager Aggressive Equity $190 $ 589 $1,013 $2,192 Multimanager Core Bond $253 $ 779 $1,331 $2,834 Multimanager Health Care $324 $ 988 $1,676 $3,506 Multimanager High Yield $227 $ 700 $1,199 $2,571 Multimanager International Equity $303 $ 926 $1,574 $3,310 Multimanager Large Cap Core Equity $289 $ 885 $1,507 $3,181 Multimanager Large Cap Growth $291 $ 892 $1,518 $3,201 Multimanager Large Cap Value $286 $ 876 $1,492 $3,150 Multimanager Mid Cap Growth $310 $ 948 $1,610 $3,379 Multimanager Mid Cap Value $309 $ 945 $1,605 $3,369 Multimanager Small Cap Growth $312 $ 954 $1,620 $3,399 Multimanager Small Cap Value $301 $ 920 $1,564 $3,290 Multimanager Technology $324 $ 988 $1,676 $3,506 Target 2015 Allocation $421 $1,274 $2,140 $4,365 Target 2025 Allocation $390 $1,182 $1,992 $4,097 Target 2035 Allocation $492 $1,476 $2,462 $4,934 Target 2045 Allocation $537 $1,604 $2,664 $5,279 - ----------------------------------------------------------------------------------------------------- EQ ADVISORS TRUST: - ----------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock $190 $ 589 $1,013 $2,192 EQ/AllianceBernstein Intermediate Government Securities $213 $ 659 $1,130 $2,432 EQ/AllianceBernstein International $241 $ 741 $1,268 $2,709 EQ/AllianceBernstein Large Cap Growth $282 $ 864 $1,471 $3,110 EQ/AllianceBernstein Quality Bond $215 $ 662 $1,136 $2,443 EQ/AllianceBernstein Small Cap Growth $239 $ 735 $1,257 $2,688 EQ/AllianceBernstein Value $222 $ 684 $1,173 $2,518 EQ/Ariel Appreciation II $280 $ 857 $1,461 $3,090 EQ/AXA Rosenberg Value Long/Short Equity $521 $1,559 $2,594 $5,160 EQ/BlackRock Basic Value Equity $245 $ 754 $1,289 $2,751 EQ/BlackRock International Value $279 $ 854 $1,456 $3,080 EQ/Boston Advisors Equity Income $267 $ 820 $1,399 $2,968 EQ/Calvert Socially Responsible $266 $ 817 $1,393 $2,958 EQ/Capital Guardian Growth $258 $ 791 $1,352 $2,875 EQ/Capital Guardian Research $253 $ 779 $1,331 $2,834 EQ/Caywood-Scholl High Yield Bond $253 $ 779 $1,331 $2,834 EQ/Davis New York Venture $282 $ 864 $1,471 $3,110 EQ/Equity 500 Index $187 $ 579 $ 997 $2,159 EQ/Evergreen International Bond $265 $ 813 $1,388 $2,947 EQ/Evergreen Omega $268 $ 823 $1,404 $2,978 EQ/FI Mid Cap $259 $ 795 $1,357 $2,886 - -----------------------------------------------------------------------------------------------------
20 Fee table
- ---------------------------------------------------------------------------------------------------------------------------------- If you surrender your contract at the end of the If you annuitize at the end of the applicable time period applicable time period(1) ---------------------------------------------------------------------------------------- 1 year 3 years 5 years 10 years 1 year 3 years 5 years 10 years - ---------------------------------------------------------------------------------------------------------------------------------- EQ ADVISORS TRUST: - ---------------------------------------------------------------------------------------------------------------------------------- EQ/Franklin Income $835 $1,446 $2,082 $3,130 N/A $1,446 $2,082 $3,130 EQ/Franklin Small Cap Value $838 $1,454 $2,097 $3,161 N/A $1,454 $2,097 $3,161 EQ/Franklin Templeton Founding Strategy $862 $1,525 $2,213 $3,399 N/A $1,525 $2,213 $3,399 EQ/GAMCO Mergers and Acquisitions $839 $1,457 $2,102 $3,171 N/A $1,457 $2,102 $3,171 EQ/GAMCO Small Company Value $819 $1,395 $1,993 $2,958 N/A $1,395 $1,993 $2,958 EQ/International Core PLUS $825 $1,413 $2,025 $3,019 N/A $1,413 $2,025 $3,019 EQ/International Growth $842 $1,466 $2,116 $3,201 N/A $1,466 $2,116 $3,201 EQ/JPMorgan Core Bond $787 $1,300 $1,826 $2,624 N/A $1,300 $1,826 $2,624 EQ/JPMorgan Value Opportunities $805 $1,354 $1,920 $2,813 N/A $1,354 $1,920 $2,813 EQ/Large Cap Core PLUS $808 $1,363 $1,936 $2,844 N/A $1,363 $1,936 $2,844 EQ/Large Cap Growth PLUS $807 $1,360 $1,931 $2,834 N/A $1,360 $1,931 $2,834 EQ/Legg Mason Value Equity $813 $1,378 $1,962 $2,896 N/A $1,378 $1,962 $2,896 EQ/Long Term Bond $784 $1,291 $1,810 $2,593 N/A $1,291 $1,810 $2,593 EQ/Lord Abbett Growth and Income $812 $1,375 $1,957 $2,886 N/A $1,375 $1,957 $2,886 EQ/Lord Abbett Large Cap Core $817 $1,390 $1,983 $2,937 N/A $1,390 $1,983 $2,937 EQ/Lord Abbett Mid Cap Value $816 $1,387 $1,978 $2,927 N/A $1,387 $1,978 $2,927 EQ/Marsico Focus $828 $1,425 $2,045 $3,060 N/A $1,425 $2,045 $3,060 EQ/Mid Cap Value PLUS $812 $1,375 $1,957 $2,886 N/A $1,375 $1,957 $2,886 EQ/Money Market $747 $1,181 $1,613 $2,192 N/A $1,181 $1,613 $2,192 EQ/Montag & Caldwell Growth $821 $1,401 $2,004 $2,978 N/A $1,401 $2,004 $2,978 EQ/Mutual Shares $841 $1,463 $2,112 $3,191 N/A $1,463 $2,112 $3,191 EQ/Oppenheimer Global $877 $1,569 $2,285 $3,544 N/A $1,569 $2,285 $3,544 EQ/Oppenheimer Main Street Opportunity $861 $1,522 $2,208 $3,389 N/A $1,522 $2,208 $3,389 EQ/Oppenheimer Main Street Small Cap $869 $1,546 $2,247 $3,467 N/A $1,546 $2,247 $3,467 EQ/PIMCO Real Return $800 $1,339 $1,894 $2,761 N/A $1,339 $1,894 $2,761 EQ/Short Duration Bond $789 $1,306 $1,836 $2,645 N/A $1,306 $1,836 $2,645 EQ/Small Company Index $770 $1,250 $1,736 $2,443 N/A $1,250 $1,736 $2,443 EQ/T. Rowe Price Growth Stock $824 $1,410 $2,019 $3,009 N/A $1,410 $2,019 $3,009 EQ/Templeton Growth $845 $1,475 $2,131 $3,231 N/A $1,475 $2,131 $3,231 EQ/UBS Growth and Income $822 $1,404 $2,009 $2,988 N/A $1,404 $2,009 $2,988 EQ/Van Kampen Comstock $811 $1,372 $1,952 $2,875 N/A $1,372 $1,952 $2,875 EQ/Van Kampen Emerging Markets Equity $869 $1,546 $2,247 $3,467 N/A $1,546 $2,247 $3,467 EQ/Van Kampen Mid Cap Growth $816 $1,387 $1,978 $2,927 N/A $1,387 $1,978 $2,927 EQ/Van Kampen Real Estate $841 $1,463 $2,112 $3,191 N/A $1,463 $2,112 $3,191 - ---------------------------------------------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------- If you do not surrender your contract at the end of the applicable time period ------------------------------------------- 1 year 3 years 5 years 10 years - ------------------------------------------------------------------------------------- EQ ADVISORS TRUST: - ------------------------------------------------------------------------------------- EQ/Franklin Income $284 $ 870 $1,482 $3,130 EQ/Franklin Small Cap Value $287 $ 879 $1,497 $3,161 EQ/Franklin Templeton Founding Strategy $312 $ 954 $1,620 $3,399 EQ/GAMCO Mergers and Acquisitions $288 $ 882 $1,502 $3,171 EQ/GAMCO Small Company Value $266 $ 817 $1,393 $2,958 EQ/International Core PLUS $272 $ 835 $1,425 $3,019 EQ/International Growth $291 $ 892 $1,518 $3,201 EQ/JPMorgan Core Bond $232 $ 716 $1,226 $2,624 EQ/JPMorgan Value Opportunities $251 $ 773 $1,320 $2,813 EQ/Large Cap Core PLUS $254 $ 782 $1,336 $2,844 EQ/Large Cap Growth PLUS $253 $ 779 $1,331 $2,834 EQ/Legg Mason Value Equity $260 $ 798 $1,362 $2,896 EQ/Long Term Bond $229 $ 706 $1,210 $2,593 EQ/Lord Abbett Growth and Income $259 $ 795 $1,357 $2,886 EQ/Lord Abbett Large Cap Core $264 $ 810 $1,383 $2,937 EQ/Lord Abbett Mid Cap Value $263 $ 807 $1,378 $2,927 EQ/Marsico Focus $276 $ 848 $1,445 $3,060 EQ/Mid Cap Value PLUS $259 $ 795 $1,357 $2,886 EQ/Money Market $190 $ 589 $1,013 $2,192 EQ/Montag & Caldwell Growth $268 $ 823 $1,404 $2,978 EQ/Mutual Shares $290 $ 889 $1,513 $3,191 EQ/Oppenheimer Global $328 $1,001 $1,697 $3,544 EQ/Oppenheimer Main Street Opportunity $311 $ 951 $1,615 $3,389 EQ/Oppenheimer Main Street Small Cap $319 $ 976 $1,656 $3,467 EQ/PIMCO Real Return $246 $ 757 $1,294 $2,761 EQ/Short Duration Bond $234 $ 722 $1,236 $2,645 EQ/Small Company Index $215 $ 662 $1,136 $2,443 EQ/T. Rowe Price Growth Stock $271 $ 832 $1,419 $3,009 EQ/Templeton Growth $294 $ 901 $1,533 $3,231 EQ/UBS Growth and Income $269 $ 826 $1,409 $2,988 EQ/Van Kampen Comstock $258 $ 791 $1,352 $2,875 EQ/Van Kampen Emerging Markets Equity $319 $ 976 $1,656 $3,467 EQ/Van Kampen Mid Cap Growth $263 $ 807 $1,378 $2,927 EQ/Van Kampen Real Estate $290 $ 889 $1,513 $3,191 - -------------------------------------------------------------------------------------
(1) Please see "When withdrawal charges do not apply" in "Charges and expenses" later in this prospectus for more information on withdrawal charge waivers upon annuitization. Fee table 21 EQUI-VEST(SM) SERIES 300 CONTRACTS
- ------------------------------------------------------------------------------------------------------ If you surrender your contract at the end of the applicable time period -------------------------------------------- 1 year 3 years 5 years 10 years - ------------------------------------------------------------------------------------------------------ AXA PREMIER VIP TRUST: - ------------------------------------------------------------------------------------------------------ AXA Aggressive Allocation $ 850 $1,490 $2,155 $3,280 AXA Conservative Allocation $ 831 $1,434 $2,061 $3,090 AXA Conservative-Plus Allocation $ 836 $1,449 $2,087 $3,140 AXA Moderate Allocation $ 816 $1,387 $1,978 $2,927 AXA Moderate-Plus Allocation $ 844 $1,472 $2,126 $3,221 Multimanager Aggressive Equity $ 786 $1,297 $1,820 $2,614 Multimanager Core Bond $ 808 $1,363 $1,936 $2,844 Multimanager Health Care $ 874 $1,560 $2,270 $3,515 Multimanager High Yield $ 783 $1,288 $1,805 $2,582 Multimanager International Equity $ 854 $1,502 $2,174 $3,320 Multimanager Large Cap Core Equity $ 841 $1,463 $2,112 $3,191 Multimanager Large Cap Growth $ 843 $1,469 $2,121 $3,211 Multimanager Large Cap Value $ 838 $1,454 $2,097 $3,161 Multimanager Mid Cap Growth $ 861 $1,522 $2,208 $3,389 Multimanager Mid Cap Value $ 860 $1,519 $2,203 $3,379 Multimanager Small Cap Growth $ 863 $1,528 $2,218 $3,408 Multimanager Small Cap Value $ 852 $1,496 $2,165 $3,300 Multimanager Technology $ 874 $1,560 $2,270 $3,515 Target 2015 Allocation $ 966 $1,829 $2,706 $4,374 Target 2025 Allocation $ 937 $1,743 $2,567 $4,106 Target 2035 Allocation $1,033 $2,020 $3,009 $4,942 Target 2045 Allocation $1,076 $2,141 $3,198 $5,287 - ------------------------------------------------------------------------------------------------------ EQ ADVISORS TRUST: - ------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Common Stock $ 767 $1,241 $1,720 $2,410 EQ/AllianceBernstein Intermediate Government Securities $ 770 $1,250 $1,736 $2,443 EQ/AllianceBernstein International $ 796 $1,327 $1,873 $2,719 EQ/AllianceBernstein Large Cap Growth $ 834 $1,443 $2,076 $3,120 EQ/AllianceBernstein Quality Bond $ 771 $1,253 $1,741 $2,454 EQ/AllianceBernstein Small Cap Growth $ 794 $1,321 $1,863 $2,698 EQ/AllianceBernstein Value $ 778 $1,274 $1,778 $2,529 EQ/Ariel Appreciation II $ 832 $1,437 $2,066 $3,100 EQ/AXA Rosenberg Value Long/Short Equity $1,061 $2,099 $3,132 $5,168 EQ/BlackRock Basic Value Equity $ 800 $1,339 $1,894 $2,761 EQ/BlackRock International Value $ 831 $1,434 $2,061 $3,090 EQ/Boston Advisors Equity Income $ 821 $1,401 $2,004 $2,978 EQ/Calvert Socially Responsible $ 820 $1,398 $1,999 $2,968 EQ/Capital Guardian Growth $ 812 $1,375 $1,957 $2,886 EQ/Capital Guardian Research $ 808 $1,363 $1,936 $2,844 EQ/Caywood-Scholl High Yield Bond $ 808 $1,363 $1,936 $2,844 EQ/Davis New York Venture $ 834 $1,443 $2,076 $3,120 EQ/Equity 500 Index $ 745 $1,175 $1,602 $2,170 EQ/Evergreen International Bond $ 819 $1,395 $1,993 $2,958 EQ/Evergreen Omega $ 822 $1,404 $2,009 $2,988 - ------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------ If you annuitize at the end of the applicable time period and select a non-life contingent period certain annuity option with less than ten years -------------------------------------------- 1 year 3 years 5 years 10 years - ------------------------------------------------------------------------------------------------------ AXA PREMIER VIP TRUST: - ------------------------------------------------------------------------------------------------------ AXA Aggressive Allocation N/A $1,490 $2,155 $3,280 AXA Conservative Allocation N/A $1,434 $2,061 $3,090 AXA Conservative-Plus Allocation N/A $1,449 $2,087 $3,140 AXA Moderate Allocation N/A $1,387 $1,978 $2,927 AXA Moderate-Plus Allocation N/A $1,472 $2,126 $3,221 Multimanager Aggressive Equity N/A $1,297 $1,820 $2,614 Multimanager Core Bond N/A $1,363 $1,936 $2,844 Multimanager Health Care N/A $1,560 $2,270 $3,515 Multimanager High Yield N/A $1,288 $1,805 $2,582 Multimanager International Equity N/A $1,502 $2,174 $3,320 Multimanager Large Cap Core Equity N/A $1,463 $2,112 $3,191 Multimanager Large Cap Growth N/A $1,469 $2,121 $3,211 Multimanager Large Cap Value N/A $1,454 $2,097 $3,161 Multimanager Mid Cap Growth N/A $1,522 $2,208 $3,389 Multimanager Mid Cap Value N/A $1,519 $2,203 $3,379 Multimanager Small Cap Growth N/A $1,528 $2,218 $3,408 Multimanager Small Cap Value N/A $1,496 $2,165 $3,300 Multimanager Technology N/A $1,560 $2,270 $3,515 Target 2015 Allocation N/A $1,829 $2,706 $4,374 Target 2025 Allocation N/A $1,743 $2,567 $4,106 Target 2035 Allocation N/A $2,020 $3,009 $4,942 Target 2045 Allocation N/A $2,141 $3,198 $5,287 - ------------------------------------------------------------------------------------------------------ EQ ADVISORS TRUST: - ------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Common Stock N/A $1,241 $1,720 $2,410 EQ/AllianceBernstein Intermediate Government Securities N/A $1,250 $1,736 $2,443 EQ/AllianceBernstein International N/A $1,327 $1,873 $2,719 EQ/AllianceBernstein Large Cap Growth N/A $1,443 $2,076 $3,120 EQ/AllianceBernstein Quality Bond N/A $1,253 $1,741 $2,454 EQ/AllianceBernstein Small Cap Growth N/A $1,321 $1,863 $2,698 EQ/AllianceBernstein Value N/A $1,274 $1,778 $2,529 EQ/Ariel Appreciation II N/A $1,437 $2,066 $3,100 EQ/AXA Rosenberg Value Long/Short Equity N/A $2,099 $3,132 $5,168 EQ/BlackRock Basic Value Equity N/A $1,339 $1,894 $2,761 EQ/BlackRock International Value N/A $1,434 $2,061 $3,090 EQ/Boston Advisors Equity Income N/A $1,401 $2,004 $2,978 EQ/Calvert Socially Responsible N/A $1,398 $1,999 $2,968 EQ/Capital Guardian Growth N/A $1,375 $1,957 $2,886 EQ/Capital Guardian Research N/A $1,363 $1,936 $2,844 EQ/Caywood-Scholl High Yield Bond N/A $1,363 $1,936 $2,844 EQ/Davis New York Venture N/A $1,443 $2,076 $3,120 EQ/Equity 500 Index N/A $1,175 $1,602 $2,170 EQ/Evergreen International Bond N/A $1,395 $1,993 $2,958 EQ/Evergreen Omega N/A $1,404 $2,009 $2,988 - ------------------------------------------------------------------------------------------------------ - ----------------------------------------------------------------------------------------------------- If you do not surrender your contract at the end of the applicable time period -------------------------------------------- 1 year 3 years 5 years 10 years - ----------------------------------------------------------------------------------------------------- AXA PREMIER VIP TRUST: - ----------------------------------------------------------------------------------------------------- AXA Aggressive Allocation $300 $ 917 $1,559 $3,280 AXA Conservative Allocation $280 $ 857 $1,461 $3,090 AXA Conservative-Plus Allocation $285 $ 873 $1,487 $3,140 AXA Moderate Allocation $263 $ 807 $1,378 $2,927 AXA Moderate-Plus Allocation $293 $ 898 $1,528 $3,221 Multimanager Aggressive Equity $231 $ 713 $1,220 $2,614 Multimanager Core Bond $254 $ 782 $1,336 $2,844 Multimanager Health Care $325 $ 991 $1,681 $3,515 Multimanager High Yield $228 $ 703 $1,205 $2,582 Multimanager International Equity $304 $ 929 $1,579 $3,320 Multimanager Large Cap Core Equity $290 $ 889 $1,513 $3,191 Multimanager Large Cap Growth $292 $ 895 $1,523 $3,211 Multimanager Large Cap Value $287 $ 879 $1,497 $3,161 Multimanager Mid Cap Growth $311 $ 951 $1,615 $3,389 Multimanager Mid Cap Value $310 $ 948 $1,610 $3,379 Multimanager Small Cap Growth $313 $ 957 $1,625 $3,408 Multimanager Small Cap Value $302 $ 923 $1,569 $3,300 Multimanager Technology $325 $ 991 $1,681 $3,515 Target 2015 Allocation $422 $1,277 $2,144 $4,374 Target 2025 Allocation $391 $1,185 $1,997 $4,106 Target 2035 Allocation $493 $1,479 $2,467 $4,942 Target 2045 Allocation $538 $1,607 $2,668 $5,287 - ----------------------------------------------------------------------------------------------------- EQ ADVISORS TRUST: - ----------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock $211 $ 653 $1,120 $2,410 EQ/AllianceBernstein Intermediate Government Securities $215 $ 662 $1,136 $2,443 EQ/AllianceBernstein International $242 $ 744 $1,273 $2,719 EQ/AllianceBernstein Large Cap Growth $283 $ 867 $1,476 $3,120 EQ/AllianceBernstein Quality Bond $216 $ 665 $1,141 $2,454 EQ/AllianceBernstein Small Cap Growth $240 $ 738 $1,263 $2,698 EQ/AllianceBernstein Value $223 $ 687 $1,178 $2,529 EQ/Ariel Appreciation II $281 $ 860 $1,466 $3,100 EQ/AXA Rosenberg Value Long/Short Equity $522 $1,562 $2,598 $5,168 EQ/BlackRock Basic Value Equity $246 $ 757 $1,294 $2,761 EQ/BlackRock International Value $280 $ 857 $1,461 $3,090 EQ/Boston Advisors Equity Income $268 $ 823 $1,404 $2,978 EQ/Calvert Socially Responsible $267 $ 820 $1,399 $2,968 EQ/Capital Guardian Growth $259 $ 795 $1,357 $2,886 EQ/Capital Guardian Research $254 $ 782 $1,336 $2,844 EQ/Caywood-Scholl High Yield Bond $254 $ 782 $1,336 $2,844 EQ/Davis New York Venture $283 $ 867 $1,476 $3,120 EQ/Equity 500 Index $188 $ 583 $1,002 $2,170 EQ/Evergreen International Bond $266 $ 817 $1,393 $2,958 EQ/Evergreen Omega $269 $ 826 $1,409 $2,988 - 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22 Fee table
- ---------------------------------------------------------------------------------------------------------------------------------- If you annuitize at the end of the applicable time period and select a If you surrender your contract at the end non-life of the contingent period certain annuity applicable time period option with less than ten years ---------------------------------------------------------------------------------------- 1 year 3 years 5 years 10 years 1 year 3 years 5 years 10 years - ---------------------------------------------------------------------------------------------------------------------------------- EQ ADVISORS TRUST: - ---------------------------------------------------------------------------------------------------------------------------------- EQ/FI Mid Cap $813 $1,378 $1,962 $2,896 N/A $1,378 $1,962 $2,896 EQ/Franklin Income $836 $1,449 $2,087 $3,140 N/A $1,449 $2,087 $3,140 EQ/Franklin Small Cap Value $839 $1,457 $2,102 $3,171 N/A $1,457 $2,102 $3,171 EQ/Franklin Templeton Founding Strategy $863 $1,528 $2,218 $3,408 N/A $1,528 $2,218 $3,408 EQ/GAMCO Mergers and Acquisitions $840 $1,460 $2,107 $3,181 N/A $1,460 $2,107 $3,181 EQ/GAMCO Small Company Value $820 $1,398 $1,999 $2,968 N/A $1,398 $1,999 $2,968 EQ/International Core PLUS $826 $1,416 $2,030 $3,029 N/A $1,416 $2,030 $3,029 EQ/International Growth $843 $1,469 $2,121 $3,211 N/A $1,469 $2,121 $3,211 EQ/JPMorgan Core Bond $788 $1,303 $1,831 $2,635 N/A $1,303 $1,831 $2,635 EQ/JPMorgan Value Opportunities $806 $1,357 $1,926 $2,824 N/A $1,357 $1,926 $2,824 EQ/Large Cap Core PLUS $809 $1,366 $1,941 $2,855 N/A $1,366 $1,941 $2,855 EQ/Large Cap Growth PLUS $808 $1,363 $1,936 $2,844 N/A $1,363 $1,936 $2,844 EQ/Legg Mason Value Equity $814 $1,381 $1,967 $2,906 N/A $1,381 $1,967 $2,906 EQ/Long Term Bond $785 $1,294 $1,815 $2,603 N/A $1,294 $1,815 $2,603 EQ/Lord Abbett Growth and Income $813 $1,378 $1,962 $2,896 N/A $1,378 $1,962 $2,896 EQ/Lord Abbett Large Cap Core $818 $1,392 $1,988 $2,947 N/A $1,392 $1,988 $2,947 EQ/Lord Abbett Mid Cap Value $817 $1,390 $1,983 $2,937 N/A $1,390 $1,983 $2,937 EQ/Marsico Focus $829 $1,428 $2,051 $3,070 N/A $1,428 $2,051 $3,070 EQ/Mid Cap Value PLUS $813 $1,378 $1,962 $2,896 N/A $1,378 $1,962 $2,896 EQ/Money Market $752 $1,196 $1,640 $2,247 N/A $1,196 $1,640 $2,247 EQ/Montag & Caldwell Growth $822 $1,404 $2,009 $2,988 N/A $1,404 $2,009 $2,988 EQ/Mutual Shares $842 $1,466 $2,116 $3,201 N/A $1,466 $2,116 $3,201 EQ/Oppenheimer Global $878 $1,572 $2,290 $3,554 N/A $1,572 $2,290 $3,554 EQ/Oppenheimer Main Street Opportunity $862 $1,525 $2,213 $3,399 N/A $1,525 $2,213 $3,399 EQ/Oppenheimer Main Street Small Cap $870 $1,548 $2,251 $3,477 N/A $1,548 $2,251 $3,477 EQ/PIMCO Real Return $801 $1,342 $1,899 $2,771 N/A $1,342 $1,899 $2,771 EQ/Short Duration Bond $790 $1,309 $1,841 $2,656 N/A $1,309 $1,841 $2,656 EQ/Small Company Index $771 $1,253 $1,741 $2,454 N/A $1,253 $1,741 $2,454 EQ/T. Rowe Price Growth Stock $825 $1,413 $2,025 $3,019 N/A $1,413 $2,025 $3,019 EQ/Templeton Growth $846 $1,478 $2,136 $3,241 N/A $1,478 $2,136 $3,241 EQ/UBS Growth and Income $823 $1,407 $2,014 $2,999 N/A $1,407 $2,014 $2,999 EQ/Van Kampen Comstock $812 $1,375 $1,957 $2,886 N/A $1,375 $1,957 $2,886 EQ/Van Kampen Emerging Markets Equity $870 $1,548 $2,251 $3,477 N/A $1,548 $2,251 $3,477 EQ/Van Kampen Mid Cap Growth $817 $1,390 $1,983 $2,937 N/A $1,390 $1,983 $2,937 EQ/Van Kampen Real Estate $842 $1,466 $2,116 $3,201 N/A $1,466 $2,116 $3,201 - ---------------------------------------------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------- If you do not surrender your contract at the end of the applicable time period ------------------------------------------- 1 year 3 years 5 years 10 years - ------------------------------------------------------------------------------------- EQ ADVISORS TRUST: - ------------------------------------------------------------------------------------- EQ/FI Mid Cap $260 $ 798 $1,362 $2,896 EQ/Franklin Income $285 $ 873 $1,487 $3,140 EQ/Franklin Small Cap Value $288 $ 882 $1,502 $3,171 EQ/Franklin Templeton Founding Strategy $313 $ 957 $1,625 $3,408 EQ/GAMCO Mergers and Acquisitions $289 $ 885 $1,507 $3,181 EQ/GAMCO Small Company Value $267 $ 820 $1,399 $2,968 EQ/International Core PLUS $273 $ 839 $1,430 $3,029 EQ/International Growth $292 $ 895 $1,523 $3,211 EQ/JPMorgan Core Bond $233 $ 719 $1,231 $2,635 EQ/JPMorgan Value Opportunities $252 $ 776 $1,326 $2,824 EQ/Large Cap Core PLUS $255 $ 785 $1,341 $2,855 EQ/Large Cap Growth PLUS $254 $ 782 $1,336 $2,844 EQ/Legg Mason Value Equity $261 $ 801 $1,367 $2,906 EQ/Long Term Bond $230 $ 710 $1,215 $2,603 EQ/Lord Abbett Growth and Income $260 $ 798 $1,362 $2,896 EQ/Lord Abbett Large Cap Core $265 $ 813 $1,388 $2,947 EQ/Lord Abbett Mid Cap Value $264 $ 810 $1,383 $2,937 EQ/Marsico Focus $277 $ 851 $1,451 $3,070 EQ/Mid Cap Value PLUS $260 $ 798 $1,362 $2,896 EQ/Money Market $196 $ 605 $1,040 $2,247 EQ/Montag & Caldwell Growth $269 $ 826 $1,409 $2,988 EQ/Mutual Shares $291 $ 892 $1,518 $3,201 EQ/Oppenheimer Global $329 $1,004 $1,702 $3,554 EQ/Oppenheimer Main Street Opportunity $312 $ 954 $1,620 $3,399 EQ/Oppenheimer Main Street Small Cap $320 $ 979 $1,661 $3,477 EQ/PIMCO Real Return $247 $ 760 $1,299 $2,771 EQ/Short Duration Bond $236 $ 725 $1,241 $2,656 EQ/Small Company Index $216 $ 665 $1,141 $2,454 EQ/T. Rowe Price Growth Stock $272 $ 835 $1,425 $3,019 EQ/Templeton Growth $295 $ 904 $1,538 $3,241 EQ/UBS Growth and Income $270 $ 829 $1,414 $2,999 EQ/Van Kampen Comstock $259 $ 795 $1,357 $2,886 EQ/Van Kampen Emerging Markets Equity $320 $ 979 $1,661 $3,477 EQ/Van Kampen Mid Cap Growth $264 $ 810 $1,383 $2,937 EQ/Van Kampen Real Estate $291 $ 892 $1,518 $3,201 - -------------------------------------------------------------------------------------
Fee table 23 EQUI-VEST(SM) SERIES 400 CONTRACTS
- ------------------------------------------------------------------------------------------------------ If you surrender your contract at the end of the applicable time period --------------------------------------------- 1 year 3 years 5 years 10 years - ------------------------------------------------------------------------------------------------------ AXA PREMIER VIP TRUST: - ------------------------------------------------------------------------------------------------------ AXA Aggressive Allocation $ 915 $1,680 $2,465 $3,904 AXA Conservative Allocation $ 896 $1,624 $2,375 $3,726 AXA Conservative-Plus Allocation $ 901 $1,639 $2,399 $3,773 AXA Moderate Allocation $ 880 $1,578 $2,299 $3,573 AXA Moderate-Plus Allocation $ 909 $1,662 $2,436 $3,848 Multimanager Aggressive Equity $ 850 $1,490 $2,155 $3,280 Multimanager Core Bond $ 872 $1,554 $2,261 $3,496 Multimanager Health Care $ 939 $1,749 $2,577 $4,124 Multimanager High Yield $ 847 $1,481 $2,141 $3,250 Multimanager International Equity $ 919 $1,691 $2,483 $3,941 Multimanager Large Cap Core Equity $ 906 $1,653 $2,422 $3,820 Multimanager Large Cap Growth $ 908 $1,659 $2,432 $3,839 Multimanager Large Cap Value $ 903 $1,645 $2,408 $3,792 Multimanager Mid Cap Growth $ 926 $1,711 $2,516 $4,005 Multimanager Mid Cap Value $ 925 $1,708 $2,511 $3,996 Multimanager Small Cap Growth $ 928 $1,717 $2,525 $4,024 Multimanager Small Cap Value $ 917 $1,685 $2,474 $3,922 Multimanager Technology $ 939 $1,749 $2,577 $4,124 Target 2015 Allocation $1,031 $2,014 $3,000 $4,926 Target 2025 Allocation $1,001 $1,929 $2,865 $4,676 Target 2035 Allocation $1,098 $2,202 $3,294 $5,457 Target 2045 Allocation $1,140 $2,322 $3,478 $5,778 - ------------------------------------------------------------------------------------------------------ EQ ADVISORS TRUST: - ------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Common Stock $ 831 $1,434 $2,061 $3,090 EQ/AllianceBernstein Intermediate Government Securities $ 834 $1,443 $2,076 $3,120 EQ/AllianceBernstein International $ 860 $1,519 $2,203 $3,379 EQ/AllianceBernstein Large Cap Growth $ 899 $1,633 $2,389 $3,754 EQ/AllianceBernstein Quality Bond $ 835 $1,446 $2,082 $3,130 EQ/AllianceBernstein Small Cap Growth $ 858 $1,513 $2,194 $3,359 EQ/AllianceBernstein Value $ 842 $1,466 $2,116 $3,201 EQ/Ariel Appreciation II $ 897 $1,627 $2,380 $3,735 EQ/AXA Rosenberg Value Long/Short Equity $1,125 $2,280 $3,414 $5,668 EQ/BlackRock Basic Value Equity $ 864 $1,531 $2,223 $3,418 EQ/BlackRock International Value $ 896 $1,624 $2,375 $3,726 EQ/Boston Advisors Equity Income $ 885 $1,592 $2,323 $3,621 EQ/Calvert Socially Responsible $ 884 $1,589 $2,318 $3,612 EQ/Capital Guardian Growth $ 876 $1,566 $2,280 $3,535 EQ/Capital Guardian Research $ 872 $1,554 $2,261 $3,496 EQ/Caywood-Scholl High Yield Bond $ 872 $1,554 $2,261 $3,496 EQ/Davis New York Venture $ 899 $1,633 $2,389 $3,754 EQ/Equity 500 Index $ 810 $1,369 $1,946 $2,865 EQ/Evergreen International Bond $ 883 $1,586 $2,313 $3,602 EQ/Evergreen Omega $ 886 $1,595 $2,328 $3,631 - ------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------ If you annuitize at the end of the applicable time period and select a non-life contingent period certain annuity option with less than ten years --------------------------------------------- 1 year 3 years 5 years 10 years - ------------------------------------------------------------------------------------------------------ AXA PREMIER VIP TRUST: - ------------------------------------------------------------------------------------------------------ AXA Aggressive Allocation N/A $1,680 $2,465 $3,904 AXA Conservative Allocation N/A $1,624 $2,375 $3,726 AXA Conservative-Plus Allocation N/A $1,639 $2,399 $3,773 AXA Moderate Allocation N/A $1,578 $2,299 $3,573 AXA Moderate-Plus Allocation N/A $1,662 $2,436 $3,848 Multimanager Aggressive Equity N/A $1,490 $2,155 $3,280 Multimanager Core Bond N/A $1,554 $2,261 $3,496 Multimanager Health Care N/A $1,749 $2,577 $4,124 Multimanager High Yield N/A $1,481 $2,141 $3,250 Multimanager International Equity N/A $1,691 $2,483 $3,941 Multimanager Large Cap Core Equity N/A $1,653 $2,422 $3,820 Multimanager Large Cap Growth N/A $1,659 $2,432 $3,839 Multimanager Large Cap Value N/A $1,645 $2,408 $3,792 Multimanager Mid Cap Growth N/A $1,711 $2,516 $4,005 Multimanager Mid Cap Value N/A $1,708 $2,511 $3,996 Multimanager Small Cap Growth N/A $1,717 $2,525 $4,024 Multimanager Small Cap Value N/A $1,685 $2,474 $3,922 Multimanager Technology N/A $1,749 $2,577 $4,124 Target 2015 Allocation N/A $2,014 $3,000 $4,926 Target 2025 Allocation N/A $1,929 $2,865 $4,676 Target 2035 Allocation N/A $2,202 $3,294 $5,457 Target 2045 Allocation N/A $2,322 $3,478 $5,778 - ------------------------------------------------------------------------------------------------------ EQ ADVISORS TRUST: - ------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Common Stock N/A $1,434 $2,061 $3,090 EQ/AllianceBernstein Intermediate Government Securities N/A $1,443 $2,076 $3,120 EQ/AllianceBernstein International N/A $1,519 $2,203 $3,379 EQ/AllianceBernstein Large Cap Growth N/A $1,633 $2,389 $3,754 EQ/AllianceBernstein Quality Bond N/A $1,446 $2,082 $3,130 EQ/AllianceBernstein Small Cap Growth N/A $1,513 $2,194 $3,359 EQ/AllianceBernstein Value N/A $1,466 $2,116 $3,201 EQ/Ariel Appreciation II N/A $1,627 $2,380 $3,735 EQ/AXA Rosenberg Value Long/Short Equity N/A $2,280 $3,414 $5,668 EQ/BlackRock Basic Value Equity N/A $1,531 $2,223 $3,418 EQ/BlackRock International Value N/A $1,624 $2,375 $3,726 EQ/Boston Advisors Equity Income N/A $1,592 $2,323 $3,621 EQ/Calvert Socially Responsible N/A $1,589 $2,318 $3,612 EQ/Capital Guardian Growth N/A $1,566 $2,280 $3,535 EQ/Capital Guardian Research N/A $1,554 $2,261 $3,496 EQ/Caywood-Scholl High Yield Bond N/A $1,554 $2,261 $3,496 EQ/Davis New York Venture N/A $1,633 $2,389 $3,754 EQ/Equity 500 Index N/A $1,369 $1,946 $2,865 EQ/Evergreen International Bond N/A $1,586 $2,313 $3,602 EQ/Evergreen Omega N/A $1,595 $2,328 $3,631 - ------------------------------------------------------------------------------------------------------ - ----------------------------------------------------------------------------------------------------- If you do not surrender your contract at the end of the applicable time period --------------------------------------------- 1 year 3 years 5 years 10 years - ----------------------------------------------------------------------------------------------------- AXA PREMIER VIP TRUST: - ----------------------------------------------------------------------------------------------------- AXA Aggressive Allocation $368 $1,118 $1,888 $3,904 AXA Conservative Allocation $348 $1,059 $1,793 $3,726 AXA Conservative-Plus Allocation $353 $1,075 $1,818 $3,773 AXA Moderate Allocation $331 $1,010 $1,712 $3,573 AXA Moderate-Plus Allocation $361 $1,099 $1,858 $3,848 Multimanager Aggressive Equity $300 $ 917 $1,559 $3,280 Multimanager Core Bond $323 $ 985 $1,671 $3,496 Multimanager Health Care $393 $1,191 $2,007 $4,124 Multimanager High Yield $296 $ 907 $1,543 $3,250 Multimanager International Equity $372 $1,130 $1,908 $3,941 Multimanager Large Cap Core Equity $358 $1,090 $1,843 $3,820 Multimanager Large Cap Growth $360 $1,096 $1,853 $3,839 Multimanager Large Cap Value $355 $1,081 $1,828 $3,792 Multimanager Mid Cap Growth $379 $1,152 $1,943 $4,005 Multimanager Mid Cap Value $378 $1,149 $1,938 $3,996 Multimanager Small Cap Growth $381 $1,158 $1,953 $4,024 Multimanager Small Cap Value $370 $1,124 $1,898 $3,922 Multimanager Technology $393 $1,191 $2,007 $4,124 Target 2015 Allocation $490 $1,473 $2,457 $4,926 Target 2025 Allocation $459 $1,383 $2,314 $4,676 Target 2035 Allocation $561 $1,672 $2,770 $5,457 Target 2045 Allocation $606 $1,799 $2,966 $5,778 - ----------------------------------------------------------------------------------------------------- EQ ADVISORS TRUST: - ----------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock $280 $ 857 $1,461 $3,090 EQ/AllianceBernstein Intermediate Government Securities $283 $ 867 $1,476 $3,120 EQ/AllianceBernstein International $310 $ 948 $1,610 $3,379 EQ/AllianceBernstein Large Cap Growth $351 $1,069 $1,808 $3,754 EQ/AllianceBernstein Quality Bond $284 $ 870 $1,482 $3,130 EQ/AllianceBernstein Small Cap Growth $308 $ 942 $1,600 $3,359 EQ/AllianceBernstein Value $291 $ 892 $1,518 $3,201 EQ/Ariel Appreciation II $349 $1,062 $1,798 $3,735 EQ/AXA Rosenberg Value Long/Short Equity $590 $1,755 $2,898 $5,668 EQ/BlackRock Basic Value Equity $314 $ 960 $1,630 $3,418 EQ/BlackRock International Value $348 $1,059 $1,793 $3,726 EQ/Boston Advisors Equity Income $336 $1,025 $1,737 $3,621 EQ/Calvert Socially Responsible $335 $1,022 $1,732 $3,612 EQ/Capital Guardian Growth $327 $ 997 $1,692 $3,535 EQ/Capital Guardian Research $323 $ 985 $1,671 $3,496 EQ/Caywood-Scholl High Yield Bond $323 $ 985 $1,671 $3,496 EQ/Davis New York Venture $351 $1,069 $1,808 $3,754 EQ/Equity 500 Index $256 $ 788 $1,346 $2,865 EQ/Evergreen International Bond $334 $1,019 $1,727 $3,602 EQ/Evergreen Omega $337 $1,028 $1,742 $3,631 - 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24 Fee table
- ---------------------------------------------------------------------------------------------------------------------------------- If you annuitize at the end of the applicable time period and select a If you surrender your contract at the end non-life of the contingent period certain annuity applicable time period option with less than ten years --------------------------------------------------------------------------------------- 1 year 3 years 5 years 10 years 1 year 3 years 5 years 10 years - ---------------------------------------------------------------------------------------------------------------------------------- EQ ADVISORS TRUST: - ---------------------------------------------------------------------------------------------------------------------------------- EQ/FI Mid Cap $877 $1,569 $2,285 $3,544 N/A $1,569 $2,285 $3,544 EQ/Franklin Income $901 $1,639 $2,399 $3,773 N/A $1,639 $2,399 $3,773 EQ/Franklin Small Cap Value $904 $1,648 $2,413 $3,801 N/A $1,648 $2,413 $3,801 EQ/Franklin Templeton Founding Strategy $928 $1,717 $2,525 $4,024 N/A $1,717 $2,525 $4,024 EQ/GAMCO Mergers and Acquisitions $905 $1,651 $2,418 $3,811 N/A $1,651 $2,418 $3,811 EQ/GAMCO Small Company Value $884 $1,589 $2,318 $3,612 N/A $1,589 $2,318 $3,612 EQ/International Core PLUS $890 $1,607 $2,347 $3,669 N/A $1,607 $2,347 $3,669 EQ/International Growth $908 $1,659 $2,432 $3,839 N/A $1,659 $2,432 $3,839 EQ/JPMorgan Core Bond $852 $1,496 $2,165 $3,300 N/A $1,496 $2,165 $3,300 EQ/JPMorgan Value Opportunities $870 $1,548 $2,251 $3,477 N/A $1,548 $2,251 $3,477 EQ/Large Cap Core PLUS $873 $1,557 $2,266 $3,506 N/A $1,557 $2,266 $3,506 EQ/Large Cap Growth PLUS $872 $1,554 $2,261 $3,496 N/A $1,554 $2,261 $3,496 EQ/Legg Mason Value Equity $878 $1,572 $2,290 $3,554 N/A $1,572 $2,290 $3,554 EQ/Long Term Bond $849 $1,487 $2,150 $3,270 N/A $1,487 $2,150 $3,270 EQ/Lord Abbett Growth and Income $877 $1,569 $2,285 $3,544 N/A $1,569 $2,285 $3,544 EQ/Lord Abbett Large Cap Core $882 $1,584 $2,309 $3,593 N/A $1,584 $2,309 $3,593 EQ/Lord Abbett Mid Cap Value $881 $1,581 $2,304 $3,583 N/A $1,581 $2,304 $3,583 EQ/Marsico Focus $894 $1,619 $2,366 $3,707 N/A $1,619 $2,366 $3,707 EQ/Mid Cap Value PLUS $877 $1,569 $2,285 $3,544 N/A $1,569 $2,285 $3,544 EQ/Money Market $817 $1,390 $1,983 $2,937 N/A $1,390 $1,983 $2,937 EQ/Montag & Caldwell Growth $886 $1,595 $2,328 $3,631 N/A $1,595 $2,328 $3,631 EQ/Mutual Shares $907 $1,656 $2,427 $3,829 N/A $1,656 $2,427 $3,829 EQ/Oppenheimer Global $943 $1,760 $2,595 $4,160 N/A $1,760 $2,595 $4,160 EQ/Oppenheimer Main Street Opportunity $927 $1,714 $2,521 $4,015 N/A $1,714 $2,521 $4,015 EQ/Oppenheimer Main Street Small Cap $935 $1,737 $2,558 $4,088 N/A $1,737 $2,558 $4,088 EQ/PIMCO Real Return $865 $1,534 $2,227 $3,428 N/A $1,534 $2,227 $3,428 EQ/Short Duration Bond $854 $1,502 $2,174 $3,320 N/A $1,502 $2,174 $3,320 EQ/Small Company Index $835 $1,446 $2,082 $3,130 N/A $1,446 $2,082 $3,130 EQ/T. Rowe Price Growth Stock $889 $1,604 $2,342 $3,659 N/A $1,604 $2,342 $3,659 EQ/Templeton Growth $911 $1,668 $2,446 $3,867 N/A $1,668 $2,446 $3,867 EQ/UBS Growth and Income $887 $1,598 $2,332 $3,640 N/A $1,598 $2,332 $3,640 EQ/Van Kampen Comstock $876 $1,566 $2,280 $3,535 N/A $1,566 $2,280 $3,535 EQ/Van Kampen Emerging Markets Equity $935 $1,737 $2,558 $4,088 N/A $1,737 $2,558 $4,088 EQ/Van Kampen Mid Cap Growth $881 $1,581 $2,304 $3,583 N/A $1,581 $2,304 $3,583 EQ/Van Kampen Real Estate $907 $1,656 $2,427 $3,829 N/A $1,656 $2,427 $3,829 - ---------------------------------------------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------- If you do not surrender your contract at the end of the applicable time period ------------------------------------------ 1 year 3 years 5 years 10 years - ------------------------------------------------------------------------------------- EQ ADVISORS TRUST: - ------------------------------------------------------------------------------------- EQ/FI Mid Cap $328 $1,001 $1,697 $3,544 EQ/Franklin Income $353 $1,075 $1,818 $3,773 EQ/Franklin Small Cap Value $356 $1,084 $1,833 $3,801 EQ/Franklin Templeton Founding Strategy $381 $1,158 $1,953 $4,024 EQ/GAMCO Mergers and Acquisitions $357 $1,087 $1,838 $3,811 EQ/GAMCO Small Company Value $335 $1,022 $1,732 $3,612 EQ/International Core PLUS $341 $1,041 $1,762 $3,669 EQ/International Growth $360 $1,096 $1,853 $3,839 EQ/JPMorgan Core Bond $302 $ 923 $1,569 $3,300 EQ/JPMorgan Value Opportunities $320 $ 979 $1,661 $3,477 EQ/Large Cap Core PLUS $324 $ 988 $1,676 $3,506 EQ/Large Cap Growth PLUS $323 $ 985 $1,671 $3,496 EQ/Legg Mason Value Equity $329 $1,004 $1,702 $3,554 EQ/Long Term Bond $298 $ 914 $1,554 $3,270 EQ/Lord Abbett Growth and Income $328 $1,001 $1,697 $3,544 EQ/Lord Abbett Large Cap Core $333 $1,016 $1,722 $3,593 EQ/Lord Abbett Mid Cap Value $332 $1,013 $1,717 $3,583 EQ/Marsico Focus $346 $1,053 $1,783 $3,707 EQ/Mid Cap Value PLUS $328 $1,001 $1,697 $3,544 EQ/Money Market $264 $ 810 $1,383 $2,937 EQ/Montag & Caldwell Growth $337 $1,028 $1,742 $3,631 EQ/Mutual Shares $359 $1,093 $1,848 $3,829 EQ/Oppenheimer Global $397 $1,204 $2,027 $4,160 EQ/Oppenheimer Main Street Opportunity $380 $1,155 $1,948 $4,015 EQ/Oppenheimer Main Street Small Cap $389 $1,179 $1,987 $4,088 EQ/PIMCO Real Return $315 $ 963 $1,636 $3,428 EQ/Short Duration Bond $304 $ 929 $1,579 $3,320 EQ/Small Company Index $284 $ 870 $1,482 $3,130 EQ/T. Rowe Price Growth Stock $340 $1,038 $1,757 $3,659 EQ/Templeton Growth $364 $1,106 $1,868 $3,867 EQ/UBS Growth and Income $338 $1,032 $1,747 $3,640 EQ/Van Kampen Comstock $327 $ 997 $1,692 $3,535 EQ/Van Kampen Emerging Markets Equity $389 $1,179 $1,987 $4,088 EQ/Van Kampen Mid Cap Growth $332 $1,013 $1,717 $3,583 EQ/Van Kampen Real Estate $359 $1,093 $1,848 $3,829 - -------------------------------------------------------------------------------------
Fee table 25 CONDENSED FINANCIAL INFORMATION Please see Appendix II at the end of this prospectus, for the unit values and number of units outstanding as of the periods shown for each of the variable investment options, available as of December 31, 2007. 26 Fee table 1. Contract features and benefits - -------------------------------------------------------------------------------- HOW YOU CAN PURCHASE AND CONTRIBUTE TO YOUR CONTRACT You may purchase a contract by making payments to us that we call "contributions." We require a minimum contribution amount of $20 for each type and series of contract purchased. If the total annual contributions to a TSA will be at least $200 annually, we may accept contributions of less than $20. The minimum contribution amount under our automatic investment program is $20. We discuss the automatic investment program under "About other methods of payment" in "More information" later in this prospectus. The following table summarizes our rules regarding contributions to your contract.
- ----------------------------------------------------------------------------------------------------------------------------------- Contract type Source of contributions Limitations on contributions - ----------------------------------------------------------------------------------------------------------------------------------- SEP o Employer. o For 2008, annual employer contributions up to the lesser of $46,000 or 25% of employee compensation. o Eligible rollover distributions from other traditional IRAs, 403(b) plans, qualified plans and governmental employer EDC plans. - ----------------------------------------------------------------------------------------------------------------------------------- SARSEP o Employer-remitted employee salary reduction and/or non- o For 2008, annual employer contributions up to the elective employer contributions (pre 1997 plans only). lesser of $46,000 or 25% of employee compensation. o Additional "catch-up" contributions. o Maximum salary reduction contribution is $15,500 for 2008. o Eligible rollover distributions from other traditional IRAs, 403(b) plans, qualified plans and governmental o If plan permits, an individual at least age 50 at employer EDC plans. any timeduring 2008 can make up to $5,000 additional salary reduction "catch-up" contributions. - ----------------------------------------------------------------------------------------------------------------------------------- SIMPLE IRA o Employee salary reduction; employer match. o Salary reduction contributions up to $10,500 for 2008; employer matching contributions up to 3% of o Additional "catch-up" contributions. employee compensation. o Rollover distributions or direct transfer distributions o If plan permits, an individual at least age 50 at from other SIMPLE IRAs. any time during 2008 can make up to $2,500 additional salary reduction "catch-up" contributions. - ----------------------------------------------------------------------------------------------------------------------------------- Unincorporated o Employer, including for self-employed. o For 2008, maximum amount of employer and employee and Corporate contributions is generally the lesser of $46,000 Trusteed o Salary reduction 401(k) if plan permits. or 100% of compensation, with maximum salary reduction contribution of $15,500. o Additional "catch-up" contributions. o If employer's plan permits, an individual at least o Eligible rollover distributions from other qualified age 50 at any time during 2008 can make up to $5,000 plans, 403(b) plans, governmental employer EDC plans additional salary reduction "catch-up" contributions. and traditional IRAs, if permitted by the plan. - -----------------------------------------------------------------------------------------------------------------------------------
Contract features and benefits 27
- ----------------------------------------------------------------------------------------------------------------------------------- Contract type Source of contributions Limitations on contributions - ----------------------------------------------------------------------------------------------------------------------------------- TSA and o Employer-remitted employee salary reduction and/or o For 2008, maximum amount of employer and employee University TSA various types of employer contributions. contributions is generally the lesser of $46,000 or 100% of compensation, with maximum salary reduction o Additional "catch-up" contributions. contribution of $15,500. o "Designated Roth contributions" under Section 402A o If employer's plan permits, an individual at least of the Code age 50 at any time during 2008 can make up to $5,000 additional salary reduction "catch-up" o Only if plan permits, direct plan-to-plan transfers contributions. from another 403(b) plan, or contract exchanges from another 403(b) contract under the same plan. o All salary reduction contributions (whether pre- tax or designated Roth) may not exceed the total o Only if plan permits, eligible rollover distributions maximum for the year. (For 2008, $15,500 and age from other 403(b) plans, qualified plans, governmental 50 catch-up of $5,000.) employer 457(b) plans and traditional IRAs. o Rollover or direct transfer contributions after age 70-1/2 must be net of any required minimum distributions. o Different sources of contributions and earnings may be subject to withdrawal restrictions. o We currently do not accept rollovers or direct transfers of funds from designated Roth accounts. - ----------------------------------------------------------------------------------------------------------------------------------- EDC o Employer-remitted employee salary reduction and/or o Contributions subject to plan limits. Maximum employer contributions. contribution for 2008 is lesser of $15,500 or 100% of includible compensation. o For governmental employer EDC plans only, additional "age 50 catch-up" contributions. o If plan permits, an individual may make catch-up contributions for 3 years of service preceding o For governmental employer EDC plans only and only if plan retirement age; 2008 maximum is $31,000. plan permits, eligible rollover distributions from other governmental employer 457(b) plans, 403(b) plans, o If governmental employer 457(b) plan permits, an qualified plans and traditional IRAs. individual at least age 50 at any time during 2008 can make up to $5,000 additional salary reduction "catch-up" contributions. This must be coordinated with the "catch-up" contributions for 3 years of service preceding plan retirement age. - -----------------------------------------------------------------------------------------------------------------------------------
IRA FUNDING. The contracts we issue to fund SEP, SARSEP and SIMPLE IRA programs are individual retirement annuities, or "IRAs." Internal Revenue Service ("IRS") rules for traditional IRA also generally apply to those programs. ---------------- See "Tax information" later in this prospectus for a more detailed discussion of sources of contributions, certain contribution limitations and other tax information. We may refuse to accept any contribution if the sum of all contributions under all types of EQUI-VEST(SM) contracts with the same owner or annuitant would then total more than $1,500,000 ($500,000 for owners or annuitants who are 81 and older at contract issue). We may also refuse to accept any contribution if the sum of all contributions under all AXA Equitable annuity accumulation contracts with the same owner or annuitant would then total more than $2,500,000. For information on when contributions are credited see "Dates and prices at which contract events occur" under "More information" later in this prospectus. 28 Contract features and benefits CONTRIBUTIONS TO SARSEP, CORPORATE TRUSTEED AND CERTAIN HR-10 CONTRACTS We no longer offer the EQUI-VEST(SM) contracts under SARSEP, Corporate Trusteed and Annuitant-Owned HR-10 plans, except as noted below: o If you established a SARSEP before 1997, you may continue to make contributions for existing and new employees under salary reduction arrangements. We will issue a contract to each participating employee for whom a contract has not previously been issued. o If you are an incorporated employer and already have a retirement plan funded by the EQUI-VEST(SM) contracts, we will enroll new employees under your contract and accept contributions for existing employees. o If you established an HR-10 plan where EQUI-VEST(SM) contracts are owned by the annuitant, rather than by a trustee, we will offer Annuitant-Owned HR-10 contracts to new employees and continue to accept contributions for all participating employees. o If your retirement plan is qualified under section 401(a) of the Internal Revenue Code and is sponsored by a state or local governmental entity. OWNER AND ANNUITANT REQUIREMENTS For the following employer-funded programs, the employee must be the owner and the annuitant on the contract: SEP-IRA, SARSEP-IRA, SIMPLE-IRA, TSA, University TSA and Annuitant-Owned HR-10. The trustee under Trusteed HR-10 corporate retirement and governmental plans is the owner of the contract. In each case, the employee is the annuitant. We do not act as trustee for these plans. Only Trusteed contracts may be sold in Puerto Rico and the tax aspects that apply to such contracts may differ from those described in this prospectus. Under EDC contracts, the employer or a trust must be the owner and the employee is the annuitant. - -------------------------------------------------------------------------------- Annuitant is the measuring life for determining annuity benefits. - -------------------------------------------------------------------------------- HOW YOU CAN MAKE YOUR CONTRIBUTIONS Except as noted below, contributions must be made by check drawn on a U.S. bank, in U.S. dollars and made payable to "AXA Equitable." We do not accept third-party checks endorsed to us except for rollover contributions, tax-free exchanges or trustee checks that involve no refund. All checks are subject to our ability to collect the funds. We reserve the right to reject a payment if it is received in an unacceptable form. For certain SEP and KEOGH plans, additional contributions may be made by our automatic investment program. The methods of payment are discussed in detail in "About other methods of payment" in "More information" later in this prospectus. Your initial contribution must generally be accompanied by an application and any other form we need to process the contribution. If any information is missing or unclear, we will hold the contribution, whether received via check or wire, in a non-interest bearing suspense account while we try to obtain that information. If we are unable to obtain all the information we require within five business days after we receive an incomplete application or form, we will inform the financial professional submitting the application on your behalf. We will then return the contribution to you unless you specifically direct us to keep your contribution until we receive the required information. Generally, you may make additional contributions at any time. You may do so in single sum amounts, on a regular basis, or as your financial situation permits. - -------------------------------------------------------------------------------- Our "business day" is generally any day the New York Stock Exchange is open for regular trading and generally ends at 4:00 p.m. Eastern Time (or as of an earlier close of regular trading). A business day does not include a day on which we are not open due to emergency conditions determined by the Securities and Exchange Commission. We may also close early due to such emergency conditions. For more information about our business day and our pricing of transactions, please see "Dates and prices at which contract events occur." - -------------------------------------------------------------------------------- WHAT ARE YOUR INVESTMENT OPTIONS UNDER THE CONTRACT? Your investment options, subject to any employer plan limitations, are the variable investment options, the guaranteed interest option, and the fixed maturity options available under the investment method you select (see "Selecting your investment method," later in this prospectus). VARIABLE INVESTMENT OPTIONS Your investment results in any one of the variable investment options will depend on the investment performance of the underlying portfolios. You can lose your principal when investing in the variable investment options. In periods of poor market performance, the net return, after charges and expenses, may result in negative yields, including for the EQ/Money Market variable investment option. Listed below are the currently available portfolios, their investment objectives and their advisers. - -------------------------------------------------------------------------------- You can choose from among the variable investment options, the guaranteed interest option and fixed maturity options, subject to certain restrictions. - -------------------------------------------------------------------------------- Contract features and benefits 29 Portfolios of the Trusts The AXA Allocation Portfolios and the EQ/Franklin Templeton Founding Strategy Portfolio offer contract owners a convenient opportunity to invest in other portfolios that are managed and have been selected for inclusion in the AXA Allocation Portfolios and the EQ/Franklin Templeton Founding Strategy Portfolio by AXA Equitable. AXA Advisors, LLC, an affiliated broker-dealer of AXA Equitable, may promote the benefits of such portfolios to contract owners and/or suggest, incidental to the sale of this contract, that contract owners consider whether allocating some or all of their account value to such portfolios is consistent with their desired investment objectives. In doing so, AXA Equitable, and/or its affiliates, may be subject to conflicts of interest insofar as AXA Equitable may derive greater revenues from the AXA Allocation Portfolios and the EQ/Franklin Templeton Founding Strategy Portfolio than certain other portfolios available to you under your contract. In addition, due to the relative diversification of the underlying portfolios covering various asset classes and categories, the AXA Allocation Portfolios and the EQ/Franklin Templeton Founding Strategy Portfolio may enable AXA Equitable to more efficiently manage AXA Equitable's financial risks associated with certain guaranteed features. Please see "Allocating your contributions" later in this section for more information about your role in managing your allocations. AXA Equitable serves as the investment manager of the portfolios of AXA Premier VIP Trust and EQ Advisors Trust. For some portfolios, AXA Equitable has entered into sub-advisory agreements with investment advisers (the "sub-advisers") to carry out the day-to-day investment decisions for the portfolios. As such, AXA Equitable oversees the activities of the sub-advisers with respect to the Trusts and is responsible for retaining or discontinuing the services of those sub-advisers. The chart below indicates the objective and investment manager or sub-adviser(s), as applicable, for each portfolio.
- ---------------------------------------------------------------------------------------------------------------------------------- AXA Premier VIP Trust Investment Manager (or Sub-Adviser(s), as Portfolio Name Objective applicable) - ---------------------------------------------------------------------------------------------------------------------------------- AXA AGGRESSIVE ALLOCATION Seeks long-term capital appreciation. o AXA Equitable - ---------------------------------------------------------------------------------------------------------------------------------- AXA CONSERVATIVE ALLOCATION Seeks a high level of current income. o AXA Equitable - ---------------------------------------------------------------------------------------------------------------------------------- AXA CONSERVATIVE-PLUS Seeks current income and growth of capital, with a o AXA Equitable ALLOCATION greater emphasis on current income. - ---------------------------------------------------------------------------------------------------------------------------------- AXA MODERATE ALLOCATION Seeks long-term capital appreciation and current income. o AXA Equitable - ---------------------------------------------------------------------------------------------------------------------------------- AXA MODERATE-PLUS Seeks long-term capital appreciation and current income, o AXA Equitable ALLOCATION with a greater emphasis on capital appreciation. - ---------------------------------------------------------------------------------------------------------------------------------- MULTIMANAGER AGGRESSIVE Long-term growth of capital. o AllianceBernstein L.P. EQUITY o ClearBridge Advisors, LLC o Legg Mason Capital Management, Inc. o Marsico Capital Management, LLC - ---------------------------------------------------------------------------------------------------------------------------------- MULTIMANAGER CORE BOND To seek a balance of high current income and capital o BlackRock Financial Management, Inc. appreciation, consistent with a prudent level of risk. o Pacific Investment Management Company LLC - ---------------------------------------------------------------------------------------------------------------------------------- MULTIMANAGER HEALTH CARE Long-term growth of capital. o Invesco Aim Capital Management, Inc. o RCM Capital Management LLC o Wellington Management Company, LLP - ---------------------------------------------------------------------------------------------------------------------------------- MULTIMANAGER HIGH YIELD High total return through a combination of current o Pacific Investment Management Company income and capital appreciation. LLC o Post Advisory Group, LLC - ---------------------------------------------------------------------------------------------------------------------------------- MULTIMANAGER INTERNATIONAL Long-term growth of capital. o AllianceBernstein L.P. EQUITY o JPMorgan Investment Management Inc. o Marsico Capital Management, LLC - ---------------------------------------------------------------------------------------------------------------------------------- MULTIMANAGER LARGE CAP Long-term growth of capital. o AllianceBernstein L.P. CORE EQUITY o Janus Capital Management LLC o Thornburg Investment Management, Inc. - ----------------------------------------------------------------------------------------------------------------------------------
30 Contract features and benefits
- ---------------------------------------------------------------------------------------------------------------------------------- AXA Premier VIP Trust Investment Manager (or Sub-Adviser(s), as Portfolio Name Objective applicable) - ---------------------------------------------------------------------------------------------------------------------------------- MULTIMANAGER LARGE CAP Long-term growth of capital. o RCM Capital Management LLC GROWTH o TCW Investment Management Company o T. Rowe Price Associates, Inc. - ---------------------------------------------------------------------------------------------------------------------------------- MULTIMANAGER LARGE CAP Long-term growth of capital. o AllianceBernstein L.P. VALUE o Institutional Capital LLC o MFS Investment Management - ---------------------------------------------------------------------------------------------------------------------------------- MULTIMANAGER MID CAP Long-term growth of capital. o AllianceBernstein L.P. GROWTH o Franklin Advisers, Inc. o Provident Investment Counsel, Inc. - ---------------------------------------------------------------------------------------------------------------------------------- MULTIMANAGER MID CAP VALUE Long-term growth of capital. o AXA Rosenberg Investment Management LLC o TCW Investment Management Company o Wellington Management Company, LLP - ---------------------------------------------------------------------------------------------------------------------------------- MULTIMANAGER SMALL CAP Long-term growth of capital. o Eagle Asset Management, Inc. GROWTH o Wells Capital Management Inc. - ---------------------------------------------------------------------------------------------------------------------------------- MULTIMANAGER SMALL CAP Long-term growth of capital. o Franklin Advisory Services, LLC VALUE o Lazard Asset Management LLC - ---------------------------------------------------------------------------------------------------------------------------------- MULTIMANAGER TECHNOLOGY Long-term growth of capital. o Firsthand Capital Management, Inc. o RCM Capital Management LLC o Wellington Management Company, LLP - ---------------------------------------------------------------------------------------------------------------------------------- TARGET 2015 ALLOCATION Seeks the highest total return over time consistent with o AXA Equitable its asset mix. Total return includes capital growth and income. - ---------------------------------------------------------------------------------------------------------------------------------- TARGET 2025 ALLOCATION Seeks the highest total return over time consistent with o AXA Equitable its asset mix. Total return includes capital growth and income. - ---------------------------------------------------------------------------------------------------------------------------------- TARGET 2035 ALLOCATION Seeks the highest total return over time consistent with o AXA Equitable its asset mix. Total return includes capital growth and income. - ---------------------------------------------------------------------------------------------------------------------------------- TARGET 2045 ALLOCATION Seeks the highest total return over time consistent with o AXA Equitable its asset mix. Total return includes capital growth and income. - ---------------------------------------------------------------------------------------------------------------------------------- EQ Advisors Trust Investment Manager (or Sub-Adviser(s), as Portfolio Name Objective applicable) - ---------------------------------------------------------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN COM- Seeks to achieve long-term growth of capital. o AllianceBernstein L.P. MON STOCK - ---------------------------------------------------------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN INTER- Seeks to achieve high current income consistent with o AllianceBernstein L.P. MEDIATE GOVERNMENT relative stability of principal. SECURITIES - ---------------------------------------------------------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN INTER- Seeks to achieve long-term growth of capital. o AllianceBernstein L.P. NATIONAL - ----------------------------------------------------------------------------------------------------------------------------------
Contract features and benefits 31
- ------------------------------------------------------------------------------------------------------------------------------------ EQ Advisors Trust Investment Manager (or Sub-Adviser(s), as Portfolio Name Objective applicable) - ------------------------------------------------------------------------------------------------------------------------------------ EQ/ALLIANCEBERNSTEIN LARGE Seeks to achieve long-term growth of capital. o AllianceBernstein L.P. CAP GROWTH - ------------------------------------------------------------------------------------------------------------------------------------ EQ/ALLIANCEBERNSTEIN QUALITY Seeks to achieve high current income consistent with o AllianceBernstein L.P. BOND moderate risk to capital. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/ALLIANCEBERNSTEIN SMALL Seeks to achieve long-term growth of capital. o AllianceBernstein L.P. CAP GROWTH - ------------------------------------------------------------------------------------------------------------------------------------ EQ/ALLIANCEBERNSTEIN VALUE Seeks to achieve capital appreciation. o AllianceBernstein L.P. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/ARIEL APPRECIATION II(+) Seeks to achieve long-term capital appreciation. o Ariel Capital Management, LLC - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AXA ROSENBERG VALUE Seeks to increase value through bull markets and bear o AXA Rosenberg Investment Management LLC LONG/SHORT EQUITY(++) markets using strategies that are designed to limit expo- sure to general equity market risk. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/BLACKROCK BASIC VALUE Seeks to achieve capital appreciation and secondarily, o BlackRock Investment Management, LLC EQUITY income. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/BLACKROCK INTERNATIONAL Seeks to provide current income and long-term growth of o BlackRock Investment Management VALUE income, accompanied by growth of capital. International Limited - ------------------------------------------------------------------------------------------------------------------------------------ EQ/BOSTON ADVISORS EQUITY Seeks to achieve a combination of growth and income to o Boston Advisors, LLC INCOME achieve an above-average and consistent total return. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/CALVERT SOCIALLY Seeks to achieve long-term capital appreciation. o Calvert Asset Management Company, Inc. RESPONSIBLE o Bridgeway Capital Management, Inc. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/CAPITAL GUARDIAN GROWTH Seeks to achieve long-term growth of capital. o Capital Guardian Trust Company - ------------------------------------------------------------------------------------------------------------------------------------ EQ/CAPITAL GUARDIAN Seeks to achieve long-term growth of capital. o Capital Guardian Trust Company RESEARCH - ------------------------------------------------------------------------------------------------------------------------------------ EQ/CAYWOOD-SCHOLL HIGH Seeks to maximize current income. o Caywood-Scholl Capital Management YIELD BOND - ------------------------------------------------------------------------------------------------------------------------------------ EQ/DAVIS NEW YORK VENTURE Seeks to achieve long-term growth of capital. o Davis Selected Advisers, L.P. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/EQUITY 500 INDEX Seeks to achieve a total return before expenses that o AllianceBernstein L.P. approximates the total return performance of the S&P 500 Index, including reinvestment of dividends, at a risk level consistent with that of the S&P 500 Index. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/EVERGREEN INTERNATIONAL Seeks to achieve capital growth and current income. o Evergreen Investment Management BOND Company, LLC o First International Advisors, LLC (dba "Evergreen International") - ------------------------------------------------------------------------------------------------------------------------------------ EQ/EVERGREEN OMEGA Seeks to achieve long-term capital growth. o Evergreen Investment Management Company, LLC - ------------------------------------------------------------------------------------------------------------------------------------ EQ/FI MID CAP Seeks to achieve long-term growth of capital. o Fidelity Management & Research Company - ------------------------------------------------------------------------------------------------------------------------------------ EQ/FRANKLIN INCOME Seeks to maximize income while maintaining prospects o Franklin Advisers, Inc. for capital appreciation. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/FRANKLIN SMALL CAP VALUE Seeks to achieve long-term total return. o Franklin Advisory Services, LLC - ------------------------------------------------------------------------------------------------------------------------------------ EQ/FRANKLIN TEMPLETON Primarily seeks capital appreciation and secondarily seeks o AXA Equitable FOUNDING STRATEGY income. - ------------------------------------------------------------------------------------------------------------------------------------
32 Contract features and benefits
- ------------------------------------------------------------------------------------------------------------------------------------ EQ Advisors Trust Investment Manager (or Sub-Adviser(s), as Portfolio Name Objective applicable) - ------------------------------------------------------------------------------------------------------------------------------------ EQ/GAMCO MERGERS AND Seeks to achieve capital appreciation. o GAMCO Asset Management Inc. ACQUISITIONS - ------------------------------------------------------------------------------------------------------------------------------------ EQ/GAMCO SMALL COMPANY Seeks to maximize capital appreciation. o GAMCO Asset Management Inc. VALUE - ------------------------------------------------------------------------------------------------------------------------------------ EQ/INTERNATIONAL CORE PLUS Seeks to achieve long-term growth of capital. o AXA Equitable o Mellon Capital Management Corporation o Wentworth Hauser and Violich, Inc. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/INTERNATIONAL GROWTH Seeks to achieve capital appreciation. o MFS Investment Management, Inc. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/JPMORGAN CORE BOND Seeks to provide a high total return consistent with mod- o JPMorgan Investment Management Inc. erate risk to capital and maintenance of liquidity. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/JPMORGAN VALUE Seeks to achieve long-term capital appreciation. o JPMorgan Investment Management Inc. OPPORTUNITIES - ------------------------------------------------------------------------------------------------------------------------------------ EQ/LARGE CAP CORE PLUS Seeks to achieve long-term growth of capital with a sec- o AXA Equitable ondary objective to seek reasonable current income. For o Institutional Capital LLC purposes of this Portfolio, the words "reasonable current o Mellon Capital Management Corporation income" mean moderate income. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/LARGE CAP GROWTH PLUS Seeks to provide long-term capital growth o AXA Equitable o Marsico Capital Management, LLC o Mellon Capital Management Corporation - ------------------------------------------------------------------------------------------------------------------------------------ EQ/LEGG MASON VALUE EQUITY Seeks to achieve long-term growth of capital. o Legg Mason Capital Management, Inc. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/LONG TERM BOND Seeks to maximize income and capital appreciation o BlackRock Financial Management, Inc. through investment in long-maturity debt obligations. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/LORD ABBETT GROWTH AND Seeks to achieve capital appreciation and growth of o Lord, Abbett & Co. LLC INCOME income without excessive fluctuation in market value. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/LORD ABBETT LARGE CAP Seeks to achieve capital appreciation and growth of o Lord, Abbett & Co. LLC CORE income with reasonable risk. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/LORD ABBETT MID CAP VALUE Seeks to achieve capital appreciation. o Lord, Abbett & Co. LLC - ------------------------------------------------------------------------------------------------------------------------------------ EQ/MARSICO FOCUS Seeks to achieve long-term growth of capital. o Marsico Capital Management, LLC - ------------------------------------------------------------------------------------------------------------------------------------ EQ/MID CAP VALUE PLUS Seeks to achieve long-term capital appreciation. o AXA Equitable o Mellon Capital Management Corpation o Wellington Management Company LLP - ------------------------------------------------------------------------------------------------------------------------------------ EQ/MONEY MARKET Seeks to obtain a high level of current income, preserve o The Dreyfus Corporation its assets and maintain liquidity. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/MONTAG & CALDWELL Seeks to achieve capital appreciation. o Montag & Caldwell, Inc. GROWTH - ------------------------------------------------------------------------------------------------------------------------------------ EQ/MUTUAL SHARES Seeks to achieve capital appreciation, which may occa- o Franklin Mutual Advisers, LLC sionally be short-term, and secondarily, income. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/OPPENHEIMER GLOBAL Seeks to achieve capital appreciation. o OppenheimerFunds, Inc. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/OPPENHEIMER MAIN STREET Seeks to achieve long-term capital appreciation. o OppenheimerFunds, Inc. OPPORTUNITY - ------------------------------------------------------------------------------------------------------------------------------------
Contract features and benefits 33
- ------------------------------------------------------------------------------------------------------------------------------------ EQ Advisors Trust Investment Manager (or Sub-Adviser(s), as Portfolio Name Objective applicable) - ------------------------------------------------------------------------------------------------------------------------------------ EQ/OPPENHEIMER MAIN STREET Seeks to achieve capital appreciation. o OppenheimerFunds, Inc. SMALL CAP - ------------------------------------------------------------------------------------------------------------------------------------ EQ/PIMCO REAL RETURN Seeks to achieve maximum real return consistent with o Pacific Investment Management Company, preservation of real capital and prudent investment man- LLC agement. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/SHORT DURATION BOND Seeks to achieve current income with reduced volatility of o BlackRock Financial Management, Inc. principal. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/SMALL COMPANY INDEX Seeks to replicate as closely as possible (before the o AllianceBernstein L.P. deduction of Portfolio expenses) the total return of the Russell 2000 Index. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/T. ROWE PRICE GROWTH Seeks to achieve long-term capital appreciation and o T. Rowe Price Associates, Inc. STOCK secondarily, income. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/TEMPLETON GROWTH Seeks to achieve long-term capital growth. o Templeton Global Advisors Limited - ------------------------------------------------------------------------------------------------------------------------------------ EQ/UBS GROWTH AND INCOME Seeks to achieve total return through capital appreciation o UBS Global Asset Management with income as a secondary consideration. (Americas) Inc. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/VAN KAMPEN COMSTOCK Seeks to achieve capital growth and income. o Morgan Stanley Investment Management Inc. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/VAN KAMPEN EMERGING Seeks to achieve long-term capital appreciation. o Morgan Stanley Investment Management Inc. MARKETS EQUITY - ------------------------------------------------------------------------------------------------------------------------------------ EQ/VAN KAMPEN MID CAP Seeks to achieve capital growth. o Morgan Stanley Investment Management Inc. GROWTH - ------------------------------------------------------------------------------------------------------------------------------------ EQ/VAN KAMPEN REAL ESTATE Seeks to provide above average current income and long- o Morgan Stanley Investment Management Inc. term capital appreciation. - ------------------------------------------------------------------------------------------------------------------------------------
(+) The EQ/Ariel Appreciation II option is not available under EDC and TSA contracts. (++) EQ/AXA Rosenberg Value Long/Short Equity option is not available for new contributions or incoming transfers for certain TSA contract owners in the State of Texas. (See Appen dix IV.) You should consider the investment objectives, risks and charges and expenses of the portfolios carefully before investing. The prospectuses for the Trusts contain this and other important information about the portfolios. The prospectuses should be read carefully before investing. 34 Contract features and benefits GUARANTEED INTEREST OPTION The guaranteed interest option is part of our general account and pays interest at guaranteed rates. We discuss our general account in "More information," later in this prospectus. We credit interest daily to amounts in the guaranteed interest option. There are three levels of interest in effect at the same time in the guaranteed interest option: (1) the minimum interest rate guaranteed over the life of the contract, (2) the annual minimum guaranteed interest rate for the calendar year, and (3) the current interest rate. We set current interest rates periodically, according to our procedures that we have in effect at the time. All interest rates are effective annual rates, but before deduction of annual administrative charges or any withdrawal charges. We assign an interest rate to each amount allocated to the guaranteed interest option. This rate is guaranteed for a specified period. The rate may be different depending on certain factors, including the type and series of your contract and when the allocation is made. An exception to this approach applies to Corporate Trusteed contracts and EDC contracts issued to government employees in New York whose EQUI-VEST(SM) funding arrangements became effective on and after July 1, 1989. Generally, we assign an interest rate to the total amounts invested in Corporate Trusteed and EDC contracts issued to government employees in New York regardless of when allocations were made to the guaranteed interest option. Generally, the annual minimum guaranteed interest rate for 2008 is 2.75%, 3.0% or 4.0% depending on the lifetime guaranteed minimum rate of your contract. Depending on your contract type, contract series, and the state where your contract is issued, the lifetime minimum guaranteed interest rate ranges from 1.0% to 3.0% (may be 4.0% for Corporate Trusteed contracts and Keogh Trusteed contracts). The lifetime minimum guaranteed interest rate is shown in your contract. The annual minimum guaranteed interest rate will never be less than the lifetime minimum guaranteed interest rate. Check with your financial professional as to which rate applies in your state and to your contract series. Current interest rates will never be less than the annual minimum guaranteed interest rate. FIXED MATURITY OPTIONS We offer fixed maturity options with maturity dates generally ranging from one to ten years (one to seven in Oregon). We will not accept allocations to a fixed maturity option if on the date the contribution or transfer is to be applied the rate to maturity is 3%. This means that at points in time there may be no fixed maturity options available. You can allocate your contributions to one or more of these fixed maturity options. However, you may not allocate more than one contribution to any one fixed maturity option. These amounts become part of a non-unitized separate account. They will accumulate interest at the "rate to maturity" for each fixed maturity option. The total amount you allocate to and accumulate in each fixed maturity option is called the "fixed maturity amount." Your financial professional can provide your state's approval status. For contracts issued in New York, see "Charges and expenses" for information on withdrawal charges when amounts are allocated to the fixed maturity options. - -------------------------------------------------------------------------------- Fixed maturity options generally range from one to ten years to maturity. - -------------------------------------------------------------------------------- The rate to maturity you will receive for each fixed maturity option is the rate to maturity in effect for new contributions allocated to that fixed maturity option on the date we apply your contribution. On the maturity date of a fixed maturity option, your fixed maturity amount, assuming you have not made any withdrawals or transfers, will equal your contribution to that fixed maturity option plus interest, at the rate to maturity for that contribution. This is the fixed maturity option's "maturity value." Before maturity, the current value we will report for your fixed maturity amount will reflect a market value adjustment. Your current value will reflect the market value adjustment that we would make if you were to withdraw all of your fixed maturity amounts on the date of the report. We call this your "market adjusted amount." FIXED MATURITY OPTIONS AND MATURITY DATES. We currently offer fixed maturity options ending on June 15th for maturity years ranging from one through ten (seven in Oregon). Not all of these fixed maturity options will be available for annuitants ages 76 and older. See "Allocating your contributions." As fixed maturity options expire, we expect to add maturity years so that generally 10 (7 in Oregon) fixed maturity options are available at any time. We will not accept allocations to a fixed maturity option if on the date the contribution is to be applied: o you previously allocated a contribution or made a transfer to the same fixed maturity option; or o the rate to maturity is 3%; or o the fixed maturity option's maturity date is within 45 days; or o the fixed maturity option's maturity date is later than the date annuity payments are to begin. YOUR CHOICES AT THE MATURITY DATE. We will notify you at least 45 days before each of your fixed maturity options is scheduled to mature. At that time, you may choose to have one of the following take place on the maturity date, as long as none of the conditions listed above or in "Allocating your contributions," would apply: (a) transfer the maturity value into another available fixed maturity option, or into any of the variable investment options; or (b) subject to plan restrictions, withdraw the maturity value (there may be a withdrawal charge). If we do not receive your choice on or before the fixed maturity option's maturity date, we will automatically transfer your maturity value into the next available fixed maturity option (or another investment option if we are required to do so by any state regulation). As of February 15, 2008, the next available maturity date was June 15, 2013 (see "About our fixed maturity options" in "More information" later in this prospectus). We may change our procedures in the future. MARKET VALUE ADJUSTMENT. If you make any withdrawals (including transfers, surrender or termination of your contract or when we make Contract features and benefits 35 deductions for charges) from a fixed maturity option before it matures, we will make a market value adjustment, which will increase or decrease any fixed maturity amount you have in that fixed maturity option. The amount of the adjustment will depend on two factors: (a) the difference between the rate to maturity that applies to the amount being withdrawn and the rate to maturity in effect at that time for new allocations to that same fixed maturity option, and (b) the length of time remaining until the maturity date. In general, if interest rates rise from the time that you originally allocate an amount to a fixed maturity option to the time that you take a withdrawal, the market value adjustment will be negative. Likewise, if interest rates drop at the end of that time, the market value adjustment will be positive. Also, the amount of the market value adjustment, either up or down, will be greater the longer the time remaining until the fixed maturity option's maturity date. Therefore, it is possible that the market value adjustment could greatly reduce your value in the fixed maturity options, particularly in the fixed maturity options with later maturity dates. We provide an illustration of the market adjusted amount of specified maturity values, an explanation of how we calculate the market value adjustment, and information concerning our general account and investments purchased with amounts allocated to the fixed maturity options, in "More information" later in this prospectus. Appendix III at the end of this prospectus provides an example of how the market value adjustment is calculated. SELECTING YOUR INVESTMENT METHOD Subject to any employer plan limitations, you must choose one of the following two methods for selecting your investment options: o MAXIMUM INVESTMENT OPTIONS CHOICE. Under this method, you may allocate contributions or transfer funds to any of the available investment options listed in A and B in the investment options chart. You can make transfers whenever you choose. However, there will be restrictions on the amount you can transfer out of the guaranteed interest option listed in A. o MAXIMUM TRANSFER FLEXIBILITY. Under this method, you may allocate contributions or transfer funds to any of the available investment options listed in A in the investment options chart and no transfer restrictions will apply. TEMPORARY REMOVAL OF TRANSFER RESTRICTIONS THAT APPLY TO THE INVESTMENT METHODS. From time to time, we may remove certain restrictions that apply to your investment method. If we do so, we will tell you. For example, if you elect the "Maximum investment options choice" method, for a limited time there will be no restrictions on the amount you could transfer out of the guaranteed interest option listed in group "A." If you elect the "Maximum transfer flexibility" method, for a limited time you will be able to use the fixed income variable investment options listed in group "B" as well as the fixed maturity options. We will also tell you at least 45 days in advance of the day that we intend to reimpose the transfer restrictions. When we reimpose the transfer restrictions, if you elect the "Maximum investment options choice" method, limits on transfers out of the guaranteed interest option will again apply. If you elect the "Maximum transfer flexibility" method, you will no longer be permitted to allocate new contributions to, or transfer amounts into, the variable investment options in group B (including through our rebalancing program) or the fixed maturity options. However, amounts that are in any investment options that are not available under "Maximum transfer flexibility" can remain in these options. - -------------------------------------------------------------------------------- Investment Options - -------------------------------------------------------------------------------- A - -------------------------------------------------------------------------------- o Guaranteed Interest Option - -------------------------------------------------------------------------------- Domestic stocks - -------------------------------------------------------------------------------- o AXA Aggressive Allocation o EQ/Lord Abbett Mid Cap Value o AXA Moderate-Plus Allocation o EQ/Marsico Focus o EQ/AllianceBernstein Common Stock o EQ/Mid Cap Value PLUS o EQ/AllianceBernstein Large Cap o EQ/Montag & Caldwell Growth Growth o EQ/Mutual Shares o EQ/AllianceBernstein Small Cap o EQ/Oppenheimer Main Street Growth Opportunity o EQ/AllianceBernstein Value o EQ/Oppenheimer Main Street Small o EQ/Ariel Appreciation II(2) Cap o EQ/AXA Rosenberg Value Long/Short o EQ/Small Company Index Equity(3) o EQ/T. Rowe Price Growth Stock o EQ/BlackRock Basic Value Equity o EQ/Templeton Growth o EQ/Boston Advisors Equity Income o EQ/UBS Growth and Income o EQ/Calvert Socially Responsible o EQ/Van Kampen Comstock o EQ/Capital Guardian Growth o EQ/Van Kampen Mid Cap Growth o EQ/Capital Guardian Research o EQ/Van Kampen Real Estate o EQ/Davis New York Venture o Multimanager Aggressive Equity o EQ/Equity 500 Index o Multimanager Health Care o EQ/Evergreen Omega o Multimanager Large Cap Core Equity o EQ/FI Mid Cap o Multimanager Large Cap Growth o EQ/Franklin Small Cap Value o Multimanager Large Cap Value o EQ/Franklin Templeton Founding o Multimanager Mid Cap Growth Strategy o Multimanager Mid Cap Value o EQ/GAMCO Mergers and Acquisitions o Multimanager Small Cap Growth o EQ/GAMCO Small Company Value o Multimanager Small Cap Value o EQ/JPMorgan Value Opportunities o Multimanager Technology o EQ/Large Cap Core PLUS o Target 2015 Allocation(1) o EQ/Large Cap Growth PLUS o Target 2025 Allocation(1) o EQ/Legg Mason Value Equity o Target 2035 Allocation(1) o EQ/Lord Abbett Growth and Income o Target 2045 Allocation(1) o EQ/Lord Abbett Large Cap Core - -------------------------------------------------------------------------------- International stocks - -------------------------------------------------------------------------------- o Multimanager International Equity o EQ/International Growth o EQ/AllianceBernstein International o EQ/Oppenheimer Global o EQ/Black Rock International Value o EQ/Van Kampen Emerging Markets o EQ/International Core PLUS Equity - -------------------------------------------------------------------------------- Balanced/hybrid - -------------------------------------------------------------------------------- o AXA Moderate Allocation - -------------------------------------------------------------------------------- 36 Contract features and benefits - -------------------------------------------------------------------------------- B - -------------------------------------------------------------------------------- Fixed income - -------------------------------------------------------------------------------- o AXA Conservative Allocation o EQ/JPMorgan Core Bond o AXA Conservative-Plus Allocation o EQ/Long Term Bond o EQ/AllianceBernstein Intermediate o EQ/Money Market Government Securities o EQ/PIMCO Real Return o EQ/AllianceBernstein Quality Bond o EQ/Short Duration Bond o EQ/Caywood-Scholl High Yield Bond o Multimanager Core Bond o EQ/Evergreen International Bond o Multimanager High Yield o EQ/Franklin Income - -------------------------------------------------------------------------------- Fixed maturity options - -------------------------------------------------------------------------------- The fixed maturity options are only available in states where approved. Transfer restrictions apply as indicated above under "Fixed maturity options and maturity dates." - -------------------------------------------------------------------------------- (1) Since these investment options, collectively, the "Target Allocation investment options," as they approach their respective target dates, and thereafter, are expected to invest more heavily in fixed income securities, we reserve the right to make them group "B" investment options at or after their respective target dates. Please note that if you select the "Maximum transfer flexibility" method, and have included any of the Target Allocation investment options among your investment options, you will be deemed to have changed to the "maximum investment options choice" method. If you select the "maximum transfer flexibility" method but have not included any of the Target Allocation investment options among your allocations, you will not be changed to the alternate method but those options will no longer be available to you. (2) The EQ/Ariel Appreciation II option is not available under EDC and TSA contracts. (3) EQ/AXA Rosenberg Value Long/Short Equity option is not available for new contributions or incoming transfers for certain TSA contract owners in the State of Texas. (See Appendix IV.) Please note that under Trusteed contracts your employer or the plan trustee will select the investment method available to the participant. Under all other contracts, you may choose from any of the investment options available under your investment method. In all cases, if any of the options listed in B in the chart referenced above are selected, you will be subject to the restrictions on transfers out of the guaranteed interest option that apply under the maximum investment options choice investment method. - -------------------------------------------------------------------------------- A participant is an individual who participates in an employer's plan funded by an EQUI-VEST(SM) contract. The participant is also the annuitant. - -------------------------------------------------------------------------------- ERISA CONSIDERATIONS FOR EMPLOYERS If you are an employer and your plan is intended to comply with the requirements of the Employee Retirement Income Security Act of 1974 ("ERISA") Section 404(c), you or your plan trustee must make sure that the investment options chosen for your plan constitute a broad range of investment choices as required by the Department of Labor's ("DOL") regulation under ERISA Section 404(c). See "Tax information" later in this prospectus. ALLOCATING YOUR CONTRIBUTIONS Once you have made your investment method choice, you may allocate your contributions to one or more or all of the investment options that you have chosen, subject to any restrictions under the investment method you chose. However, you may not allocate more than one contribution to any one fixed maturity option. If the annuitant is age 76 or older, you may only allocate contributions to fixed maturity options with maturities of five years or less. Allocations must be in whole percentages and you may change your allocation percentages at any time. However, the total of your allocations must equal 100%. Once your contributions are allocated to the investment options, they become a part of your account value. We discuss account value in "Determining your contract's value" later in this prospectus. After your contract is issued, you may request that we add or eliminate any variable investment options that result in transfer restrictions. We reserve the right to deny your request. See "Transferring your money among investment options" later in this prospectus. The contract is between you and AXA Equitable. The contract is not an investment advisory account, and AXA Equitable is not providing any investment advice or managing the allocation under your contract. In the absence of a specific written arrangement to the contrary, you, as the owner of the contract, have the sole authority to make investment allocations and other decisions under the contract. Your AXA Advisors' financial professional is acting as a broker-dealer registered representative, and is not authorized to act as an investment advisor or to manage the allocations under your contract. If your financial professional is a registered representative with a broker-dealer other than AXA Advisors, your should speak with him/her regarding any different arrangements that may apply. YOUR RIGHT TO CANCEL WITHIN A CERTAIN NUMBER OF DAYS If for any reason you are not satisfied with your contract, you may return it to us for a refund. To exercise this cancellation right you must mail the contract directly to our processing office within 10 days after you receive it. In some states, this "free look" period may be longer. For contributions allocated to the variable investment options, your refund will equal your contributions, reflecting any investment gain or loss that also reflects the daily charges we deduct. For contributions allocated to the guaranteed interest option, your refund will equal the amount of the contributions but will not include interest. For contributions allocated to the fixed maturity options, your refund will equal the amount of the contribution allocated to fixed maturity options reflecting any positive or negative market value adjustments. Some states require that we refund the full amount of your contribution (not including any investment gain or loss, or interest or market value adjustment). For contracts issued to fund SEPs, SARSEPs or SIMPLE IRAs that are returned to us within seven days after you receive it, we are required to refund the full amount of your contribution. We may require that you wait six months before you apply for a contract with us again if: o you cancel your contract during the free look period; or o you change your mind before you receive your contract whether we have received your contribution or not. See Appendix IV for any state variations. In addition to the cancellation right described above, you have the right to surrender your contract, rather than cancel it. Surrendering your contract may yield results different than canceling your contract, including a greater potential for taxable income. In some cases, your cash value upon surrender may be greater than your contributions to the contract. Please see "Tax information," later in this Propectus for possible consequences of cancelling your contract. Contract features and benefits 37 2. Determining your contract's value - -------------------------------------------------------------------------------- YOUR ACCOUNT VALUE AND CASH VALUE Your "account value" is the total of the: (i) values you have allocated to the variable investment options; (ii) the guaranteed interest option; (iii) the market adjusted amounts you have in the fixed maturity options; and (iv) if you have taken a loan under a TSA, governmental employer EDC or Corporate Trusteed contract, amounts held in your loan reserve account. These amounts are subject to certain fees and charges discussed in "Charges and expenses" later in this prospectus. Your contract also has a "cash value." At any time before annuity payments begin, your contract's cash value is equal to the account value, less: (i) any applicable withdrawal charges and (ii) the total amount or a pro rata portion of the annual administrative charge, and (iii) under a TSA, governmental employer EDC or Corporate Trusteed contract, any outstanding loan plus accrued interest. YOUR CONTRACT'S VALUE IN THE VARIABLE INVESTMENT OPTIONS Each variable investment option invests in shares of a corresponding portfolio. Your value in each variable investment option is measured by "units." The value of your units will increase or decrease as though you had invested it in the corresponding portfolio's shares directly. Your value, however, will be reduced by the amount of the fees and charges that we deduct under the contract. - -------------------------------------------------------------------------------- Units measure your value in each variable investment option. - -------------------------------------------------------------------------------- The unit value for each variable investment option depends on the investment performance of that option minus daily charges for mortality and expense risks and other expenses. On any day, your value in any variable investment option equals the number of units credited to that option, adjusted for any units purchased for or deducted from your contract under that option, multiplied by that day's value for one unit. The number of your contract units in any variable investment option does not change unless they are increased or decreased to reflect additional contributions, withdrawals, withdrawal charges, transfers and loans. In addition, the annual administrative charge or third-party transfer or exchange charge, will reduce the number of units credited to your contract. A description of how unit values are calculated is found in the SAI. YOUR CONTRACT'S VALUE IN THE GUARANTEED INTEREST OPTION Your value in the guaranteed interest option at any time will equal: your contributions and transfers to that option, plus interest, minus withdrawals and transfers out of the option, and charges we deduct. YOUR CONTRACT'S VALUE IN THE FIXED MATURITY OPTIONS Your value in each fixed maturity option at any time before the maturity date is the market adjusted amount in each option, which reflects withdrawals out of the option and charges we deduct. This is equivalent to your fixed maturity amount increased or decreased by the market value adjustment. Your value, therefore, may be higher or lower than your contributions (less withdrawals) accumulated at the rate to maturity. At the maturity date, your value in a fixed maturity option will equal its maturity value, provided there have been no withdrawals or transfers. 38 Determining your contract's value 3. Transferring your money among investment options - -------------------------------------------------------------------------------- TRANSFERRING YOUR ACCOUNT VALUE At any time before the date annuity payments are to begin, you can transfer some or all of your account value among the investment options, subject to the following: o You must transfer at least $300 of account value or, if less, the entire amount in the investment option. We may waive the $300 requirement. o You may not transfer to a fixed maturity option in which you already have value. o You may not transfer to a fixed maturity option that has a rate to maturity of 3%. o If the annuitant is age 76 or older, you must limit your transfers to fixed maturity options with maturities of five years or less. As of February 15, 2008, not all maturities were available. o You may not transfer to a fixed maturity option if its maturity date is later than the date annuity payments are to begin. o If you make transfers out of a fixed maturity option other than at its maturity date the transfer will cause a market value adjustment. o If you choose the maximum investment options choice method for selecting investment options (including if you have been deemed to have selected that method as a result of a Target Allocation investment option in which you are invested becoming a group "B" option as described under "Selecting your investment method" in "Contract features and benefits" earlier in this prospectus) the maximum amount you may transfer in any contract year from the guaranteed interest option to any other investment option is (a) 25% of the amount you had in the guaranteed interest option on the last day of the prior contract year or, if greater, (b) the total of all amounts you transferred from the guaranteed interest option to any other investment option in the prior contract year. o If you transfer money from another financial institution into the guaranteed interest option during your first contract year, and if you have selected the maximum investment options method (including if you have been deemed to have selected that method as a result of a Target Allocation investment option in which you are invested becoming a group "B" option as described under "Selecting your investment method" in "Contract features and benefits" earlier in this prospectus) you may, during the balance of that contract year, transfer up to 25% of such initial guaranteed interest option balance to any other investment option. See Appendix I for transfer restrictions under Original contracts. Upon advance notice to you, we may change or establish additional restrictions on transfers among the investment options, including limitations on the number, frequency, or dollar amount of transfers. A transfer request does not change your percentages for allocating current or future contributions among the investment options. Our current transfer restrictions are set forth in the "Disruptive transfer activity" section below. You may request a transfer in writing or by telephone using TOPS or online using EQAccess. You must send all signed written requests directly to our processing office. Transfer requests should specify: (1) the contract number, (2) the dollar amounts to be transferred, and (3) the investment options to and from which you are transferring. Under Trusteed and EDC contracts, you or the trustee or employer owner, whichever applies, can direct us to transfer among the investment options. Please see "Allocating your contributions" in "Contract features and benefits" for more information about your role in managing your allocations. We will confirm all transfers in writing. DISRUPTIVE TRANSFER ACTIVITY You should note that the contract is not designed for professional "market timing" organizations, or other organizations or individuals engaging in a market timing strategy. The contract is not designed to accommodate programmed transfers, frequent transfers or transfers that are large in relation to the total assets of the underlying portfolio. Frequent transfers, including market timing and other program trading or short-term trading strategies, may be disruptive to the underlying portfolios in which the variable investment options invest. Disruptive transfer activity may adversely affect performance and the interests of long-term investors by requiring a portfolio to maintain larger amounts of cash or to liquidate portfolio holdings at a disadvantageous time or price. For example, when market timing occurs, a portfolio may have to sell its holdings to have the cash necessary to redeem the market timer's investment. This can happen when it is not advantageous to sell any securities, so the portfolio's performance may be hurt. When large dollar amounts are involved, market timing can also make it difficult to use long-term investment strategies because a portfolio cannot predict how much cash it will have to invest. In addition, disruptive transfers or purchases and redemptions of portfolio investments may impede efficient portfolio management and impose increased transaction costs, such as brokerage costs, by requiring the portfolio manager to effect more frequent purchases and sales of portfolio securities. Similarly, a portfolio may bear increased administrative costs as a result of the asset level and investment volatility that accompanies patterns of excessive or short-term trading. Portfolios that invest a significant portion of their assets in foreign securities or the securities of small- and mid-capitalization companies tend to be subject to the risks associated with market timing and short-term trading strategies to a greater extent than portfolios that do not. Securities trading in overseas markets present time zone arbi- Transferring your money among investment options 39 trage opportunities when events affecting portfolio securities values occur after the close of the overseas market but prior to the close of the U.S. markets. Securities of small- and mid-capitalization companies present arbitrage opportunities because the market for such securities may be less liquid than the market for securities of larger companies, which could result in pricing inefficiencies. Please see the prospectuses for the underlying portfolios for more information on how portfolio shares are priced. We currently use the procedures described below to discourage disruptive transfer activity. You should understand, however, that these procedures are subject to the following limitations: (1) they primarily rely on the policies and procedures implemented by the underlying portfolios; (2) they do not eliminate the possibility that disruptive transfer activity, including market timing, will occur or that portfolio performance will be affected by such activity; and (3) the design of market timing procedures involves inherently subjective judgments, which we seek to make in a fair and reasonable manner consistent with the interests of all contract owners. We offer investment options with underlying portfolios that are part of AXA Premier VIP Trust and EQ Advisors Trust (together, the "trusts"). The trusts have adopted policies and procedures regarding disruptive transfer activity. They discourage frequent purchases and redemptions of portfolio shares and will not make special arrangements to accommodate such transactions. They aggregate inflows and outflows for each portfolio on a daily basis. On any day when a portfolio's net inflows or outflows exceed an established monitoring threshold, the trust obtains from us contract owner trading activity. The trusts currently consider transfers into and out of (or vice versa) the same variable investment option within a five business day period as potentially disruptive transfer activity. Each trust reserves the right to reject a transfer that it believes, in its sole discretion, is disruptive (or potentially disruptive) to the management of one of its portfolios. Please see the prospectuses for the trusts for more information. When a contract owner is identified as having engaged in a potentially disruptive transfer under the contract for the first time, a letter is sent to the contract owner explaining that there is a policy against disruptive transfer activity and that if such activity continues certain transfer privileges may be eliminated. If and when the contract owner is identified a second time as engaged in potentially disruptive transfer activity under the contract, we currently prohibit the use of voice, fax and automated transaction services. We currently apply such action for the remaining life of each affected contract. We or a trust may change the definition of potentially disruptive transfer activity, the monitoring procedures and thresholds, any notification procedures, and the procedures to restrict this activity. Any new or revised policies and procedures will apply to all contract owners uniformly. We do not permit exceptions to our policies restricting disruptive transfer activity. It is possible that a trust may impose a redemption fee designed to discourage frequent or disruptive trading by contract owners. As of the date of this prospectus, the trusts had not implemented such a fee. If a redemption fee is implemented by a trust, that fee, like any other trust fee, will be borne by the contract owner. Contract owners should note that it is not always possible for us and the underlying trusts to identify and prevent disruptive transfer activity. In addition, because we do not monitor for all frequent trading at the separate account level, contract owners may engage in frequent trading which may not be detected, for example, due to low net inflows or outflows on the particular day(s). Therefore, no assurance can be given that we or the trusts will successfully impose restrictions on all potentially disruptive transfers. Because there is no guarantee that disruptive trading will be stopped, some contract owners may be treated differently than others, resulting in the risk that some contract owners may be able to engage in frequent transfer activity while others will bear the effect of that frequent transfer activity. The potential effects of frequent transfer activity are discussed above. AUTOMATIC TRANSFER OPTIONS INVESTMENT SIMPLIFIER You may choose from two automatic options for transferring amounts from the guaranteed interest option to the variable investment options. The transfer options are the "fixed-dollar option" and the "interest sweep." You may select one or the other, but not both. If you elect to use rebalancing option II (discussed below), you may not choose either of the investment simplifier options. FIXED-DOLLAR OPTION. Under this option you may elect to have a fixed-dollar amount transferred out of the guaranteed interest option and into the variable investment options of your choice on a monthly basis. You can specify the number of monthly transfers or instruct us to continue to make monthly transfers until all available amounts in the guaranteed interest option have been transferred out. In order to elect the fixed-dollar option, you must have a minimum of $5,000 in the guaranteed interest option on the date we receive your election form at our processing office. You also must elect to transfer at least $50 per month. The fixed-dollar option is subject to the guaranteed interest option transfer limitation described above under "Transferring your account value." See Appendix I for transfer restrictions under original contracts. INTEREST SWEEP. Under the interest sweep, we will make transfers on a monthly basis from amounts in the guaranteed interest option. The amount we will transfer will be the interest credited to amounts you have in the guaranteed interest option from the last business day of the prior month to the last business day of the current month. You must have at least $7,500 in the guaranteed interest option on the date we receive your election and on the last business day of each month thereafter to participate in the interest sweep option. The fixed-dollar and interest sweep options are forms of dollar-cost averaging. Dollar-cost averaging allows you to gradually allocate amounts to the variable investment options by periodically transferring approximately the same dollar amount to the variable investment options you select. This will cause you to purchase more units if the unit's value is low and fewer units if the unit's value is high. Therefore, you may get a lower average cost per unit over the long term. This plan of investing, however, does not guarantee that you will earn a profit or be protected against losses. 40 Transferring your money among investment options WHEN YOUR PARTICIPATION IN THE INVESTMENT SIMPLIFIER WILL END. Your participation in the investment simplifier will end: o Under the fixed-dollar option, when either the number of designated monthly transfers have been completed or the amount you have available in the guaranteed interest option has been transferred out. o Under the interest sweep option, when the amount you have in the guaranteed interest option falls below $7,500 (determined on the last business day of the month) for two months in a row. o Under either option, on the date we receive at our processing office, your written request to cancel automatic transfers, or on the date your contract terminates. REBALANCING YOUR ACCOUNT VALUE Our rebalancing program offers two options that you can use to automatically reallocate your account value. Option I permits reallocation among the variable investment options only and option II permits reallocation among the variable investment options and the guaranteed interest option. You must tell us: (a) in whole percentages only, the percentage you want invested in each variable investment option (and the guaranteed interest option, if applicable), and (b) how often you want the rebalancing to occur (quarterly, semian nually, or annually). While your rebalancing program is in effect, we will transfer amounts among each variable investment option (and the guaranteed interest option, if applicable), so that the percentage of your account value that you specify is invested in each option at the end of each rebalancing date. Your entire account value in the variable investment options (and guaranteed interest option, if applicable) must be included in the rebalancing program. Transfer restrictions out of the guaranteed interest option may apply in accordance with the last two bullets under "Transferring your account value," above, in this section. The initial transfer under the rebalancing program (based on your account value as of the day before the program is established) is not permitted to cause the transfer restrictions to be violated, and any rebalancing election that would be a violation of the transfer restrictions will not be put into effect. However, if the program can be established, once it is in effect, the transfer restrictions will be waived for the rebalancing transfers. - -------------------------------------------------------------------------------- Rebalancing does not assure a profit or protect against loss. You should periodically review your allocation percentages as your needs change. You may want to discuss the rebalancing program with your financial professional before electing the program. - -------------------------------------------------------------------------------- You may elect the rebalancing program at any time. To be eligible, you must have (i) at least $5,000 of account value in the variable investment options for option I, or (ii) at least $5,000 of account value in the variable investment options and the guaranteed interest option, combined for option II. Rebalancing is not available for amounts you have allocated in the fixed maturity options. If you elect to use option II, you may not choose either of the investment simplifier automatic options. If you request a transfer while the rebalancing program is in effect, we will process the transfer as requested. The rebalancing program will then remain in effect unless you request in writing that it be cancelled. You may change your allocation instructions or cancel the program at any time. For TSA, Corporate Trusteed and certain governmental employer EDC contracts with outstanding loans only, on any rebalancing date where the amount to be transferred from the guaranteed interest option would cause a transfer from the Loan Reserve Account (which is part of the guaranteed interest option), the rebalancing program will be automatically cancelled. (See "Loans under TSA, governmental employer EDC and Corporate Trusteed contracts" in "Accessing your money," later in this prospectus.) Transferring your money among investment options 41 4. Accessing your money - -------------------------------------------------------------------------------- WITHDRAWING YOUR ACCOUNT VALUE You have several ways to withdraw your account value before annuity payments begin. The table below shows the methods available under each type of contract. More information follows the table. For the tax consequences of taking withdrawals, see "Tax information" later in this prospectus. METHOD OF WITHDRAWAL
- --------------------------------------------------------------- Partial Minimum Contract withdrawal Systematic distribution - --------------------------------------------------------------- SEP/SARSEP yes yes yes - --------------------------------------------------------------- SIMPLE IRA yes yes yes - --------------------------------------------------------------- Corporate and KEOGH Trusteed yes(3) no yes(3) - --------------------------------------------------------------- TSA yes(1)(2)(3) yes(1)(2)(3) yes(2) - --------------------------------------------------------------- University TSA yes(1)(2)(3) yes(1)(3) yes - --------------------------------------------------------------- EDC yes(3) yes(1)(2)(3) yes(2)(3) - --------------------------------------------------------------- Annuitant-Owned HR-10 yes(3) yes(3) yes - ---------------------------------------------------------------
(1) Only if the contract is not subject to withdrawal restrictions. (2) Only if there are no outstanding loans. (3) Requires or may require Plan Administrator's approval. See "Tax information" later in this prospectus. PARTIAL WITHDRAWALS AND TERMINATIONS Subject to the terms of the Plan, your contract and any restrictions in federal income tax rules, you may take partial withdrawals from your account value or terminate your contract at any time while the annuitant is living and before annuity payments begin. The minimum amount you may withdraw at any time is $300. If your account value is less than $500 after a withdrawal, we may terminate your contract and pay you its cash value. Partial withdrawals, or payments of remaining account value in excess of the 10% free withdrawal amount, may be subject to a withdrawal charge. (See "10% free withdrawal amount" in "Charges and expenses" later in this prospectus.) SYSTEMATIC WITHDRAWALS If you have at least $20,000 of account value in the variable investment options and the guaranteed interest option, you may take systematic withdrawals on a monthly or quarterly basis. The minimum amount you may take for each withdrawal is $250. We will make the withdrawal on any day of the month that you select as long as it is not later than the 28th day of the month. If you do not select a date, your withdrawals will be made on the first day of the month. A check for the amount of the withdrawal will be mailed to you or, if you prefer, we will electronically transfer the money to your checking or savings account. You may withdraw either the amount of interest earned in the guaranteed interest option or a fixed-dollar amount from either the variable investment options or the guaranteed interest option. If you elect the interest option, a minimum of $20,000 must be maintained in the guaranteed interest option. If you elect the fixed-dollar option, you do not have to maintain a minimum amount. If you choose to have a fixed dollar amount taken from the variable investment options, you may elect to have the amount of the withdrawal subtracted from your account value in one of three ways: (1) pro rata from more than one variable investment option (without using up your total value in those options); or (2) pro rata from more than one variable investment option (until your value in those options is used up); or (3) you may specify a dollar amount from only one variable investment option. (If you choose this option and the amount you specify for the withdrawal exceeds the value of the variable investment option, the requested withdrawal amount will instead be taken on a pro rata basis from all of your variable investment options.) You may elect systematic withdrawals under TSA and governmental employer EDC contracts if: o your plan or program permits it; o the contract is not subject to withdrawal restrictions; and o the contract does not have a loan outstanding. You can cancel the systematic withdrawal option at any time. Amounts withdrawn in excess of the 10% free withdrawal amount may be subject to a withdrawal charge. LIFETIME MINIMUM DISTRIBUTION WITHDRAWALS (SEPs, SARSEPs, SIMPLE IRAs, TSAs, EDCs, and Annuitant-owned HR-10 contracts - See "Tax information" later in this prospectus) We offer our "required minimum distribution (RMD) automatic withdrawal option" to help you meet lifetime required minimum distributions under federal income tax rules. This is not the exclusive way for you to meet these rules. After consultation with your tax adviser, you may decide to compute required minimum distributions yourself and request partial withdrawals. In such a case, a withdrawal charge may apply if your withdrawal exceeds the free withdrawal amount. You may choose instead an annuity payout option. Before electing an account-based withdrawal option, please refer to "Tax information," "Required minimum distributions" later in this prospectus for your specific type of retirement arrangement. The actuarial present value of additional contract benefits must be added to the account value in calculating required minimum distribution withdrawals, which could increase the amount required to be withdrawn. For this purpose additional annuity contract benefits may include enhanced death benefits. 42 Accessing your money You may elect our RMD automatic withdrawal option in the year in which you reach age 70-1/2 or in any later year, subject to the terms of your plan, if applicable. To elect this option, you must have account value in the variable investment options and the guaranteed interest option of at least $2,000. The minimum amount we will pay out is $300, or if less, your account value. If your account value is less than $500 after the withdrawal, we may terminate your contract and pay you its cash value. Currently, minimum distribution withdrawal payments will be made annually. Currently, we do not impose a withdrawal charge on minimum distribution withdrawals if you are enrolled in our RMD automatic withdrawal option. The minimum distribution withdrawal will be taken into account in determining if any subsequent withdrawal taken in the same contract year exceeds the 10% free withdrawal amount. For non-governmental employer EDC contracts, this election may not be revoked. For TSA and governmental employer EDC contracts, you may not elect the minimum distribution option if you have an outstanding loan under a contract. If you purchased your EQUI-VEST(SM) TSA via a direct transfer of funds from another 403(b) plan or arrangement and we were informed at the time of your purchase of the amount of your December 31, 1986 account balance (if any) you may postpone beginning lifetime required minimum distributions on these pre-1987 funds. This rule also applies if you purchased your EQUI-VEST(SM) TSA before December 31, 1986. Lifetime required minimum distributions on the pre-1987 account balance may be postponed to age 75 rather than having to start following the later of your reaching age 70-1/2 or retiring. Distributions from a qualified plan, including our prototype plans through which Annuitant-Owned HR-10 contracts are issued, are subject to the provisions of the plan document. Similar rules apply in the case of a 403(b) plan. - -------------------------------------------------------------------------------- For contracts subject to minimum distribution requirements, we will send a form outlining the distribution options available in the year you reach age 70-1/2 (if you have not begun your annuity payments before that time). - -------------------------------------------------------------------------------- HOW WITHDRAWALS ARE TAKEN FROM YOUR ACCOUNT VALUE Unless you specify otherwise, we will subtract your withdrawals on a pro rata basis from your values in the investment options. A market value adjustment will apply if withdrawals are taken from the fixed maturity options. AUTOMATIC DEPOSIT SERVICE If you are receiving Required Minimum Distribution payments from a TSA, SEP, SARSEP or SIMPLE IRA contract you may use our automatic deposit service. Under this service we will automatically deposit the Required Minimum Distribution payment from your TSA, SEP, SARSEP or SIMPLE IRA contract directly into an existing EQUI-VEST(SM) NQ or ROTH IRA or an existing EQUI-VEST(SM) Express NQ or ROTH IRA contract according to your allocation instructions. Please note that you must have compensation or earned income for the year of the contribution to make regular contributions to Roth IRAs. LOANS UNDER TSA, GOVERNMENTAL EMPLOYER EDC AND CORPORATE TRUSTEED CONTRACTS If the plan permits, loans are available under a qualified plan, 403(b) plan or governmental employer 457(b) EDC plan. Loans are subject to federal income tax limits and are also subject to the limits of the plan. The loan rules under ERISA may apply to plans not sponsored by a governmental employer. Federal income tax rules apply to all plans, even if the plan is not subject to ERISA. You may borrow against your account value only under a TSA contract, a contract issued under a governmental employer 457(b) EDC plan or Corporate Trusteed contract. Loans under governmental employer 457(b) EDC plans may not be available in all states. Loans are not available under University TSA contracts. We do not permit loans under any contract or certificate when the required minimum distribution automatic withdrawal option has been elected. Before we make a loan, you must properly complete and sign a loan request form. As a result of federal tax law changes beginning in 2007, loans are not available under a TSA contract without employer or plan administrator approval. Loan processing may not be completed until we receive all information and approvals required to process the loan at our processing office. In the case of certain Corporate Trusteed and certain TSA contracts subject to ERISA, the written consent of your spouse will be required to obtain a loan and the Plan Administrator needs to sign the loan form. In the case of governmental employer EDC contracts, the loan must be approved by the contract owner; generally, your employer, plan trustee, or the plan administrator as authorized under the governmental employer plan. Please see the loan provisions stated in the contract and read the terms and conditions in the loan request form carefully and consult with a tax advisor before taking a loan. Also, see Appendix IV later in this prospectus for any state rules that may affect loans from a TSA, governmental employer EDC or Corporate Trusteed contract. We permit only one loan to be outstanding at any time. A loan will not be treated as a taxable distribution unless: o it exceeds limits of federal income tax rules; or o interest and principal are not paid when due; or o in some instances, service with the employer terminates. Taking a loan in excess of the Internal Revenue Code limits may result in adverse tax consequences. The tax consequences of failure to repay a loan when due are substantial, and may result in severe restrictions on your ability to borrow amounts under any plans of your employer in the future. LOAN RESERVE ACCOUNT. On the date your loan is processed, we will transfer to a "loan reserve account" an amount equal to the sum of (a) and (b), where (a) is the loan amount (which will earn interest at the "loan reserve account rate" while your loan is outstanding), and (b) is 10% of the loan amount (which will earn interest at the guaranteed interest rate while your loan is outstanding). You may not make any partial withdrawals or transfers among investment options or other transaction from the loan reserve account until after repayment of the Accessing your money 43 principal amount then due. You may specify on the 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 minus a maximum rate of 2%. This excess of the interest rate that we charge is also referred to as the "net loan interest charge." See the "Fee table" for more information. Loans are discussed further in "Tax information" later in this prospectus. TERMINATION We may terminate your contract and pay you the account value if: (1) your account value is less than $500 and you have not made contributions to your contract for a period of three years; or (2) you request a partial withdrawal that reduces your account value to an amount less than $500; or (3) you have not made any contributions within 120 days from your contract date. We will deduct the amount of any outstanding loan balance (including any unpaid interest) and any withdrawal charge that applies to the loan balance from the account value when we terminate your contract. TEXAS ORP PARTICIPANTS For participants in a Texas Optional Retirement Program, Texas law permits withdrawals only after one of the following distributable events occur: o turning age 70-1/2; or o death; or o retirement; or o termination of employment in all Texas public institutions of higher education. To make a withdrawal, a properly completed written acknowledgment must be received from the employer. If a distributable event occurs prior to your being vested, any amounts provided by an employer's first-year matching contribution will be refunded to the employer. We may change these provisions without your consent, but only to the extent necessary to maintain compliance with any law that applies. WHEN TO EXPECT PAYMENTS Generally, we will fulfill requests for payments out of the variable investment options within seven calendar days after the date of the transaction to which the request relates. These transactions may include applying proceeds to a variable annuity payout option, payment of a death benefit, payment of any amount you withdraw (less any withdrawal charge) and, upon contract termination, payment of the cash value. We may postpone such payments or applying proceeds for any period during which: (1) the New York Stock Exchange is closed or restricts trading, (2) the SEC determines that an emergency exists as a result of which sales of securities or determination of fair value of a variable investment option's assets is not reasonably practicable, or (3) the SEC, by order, permits us to defer payment to protect people remaining in the variable investment options. We can defer payment of any portion of your values in the guaranteed interest option and the fixed maturity options (other than for death benefits) for up to six months while you are living. All payments are made by check and are mailed to you (or the payee named in a tax-free exchange) by U.S. mail, unless you request that we use an express delivery or wire transfer service at your expense. YOUR ANNUITY PAYOUT OPTIONS EQUI-VEST(SM) offers you several choices of annuity payout options. Some enable you to receive fixed annuity payments and others enable you to receive variable annuity payments. You can choose from among the different forms of annuity payout options listed below. Restrictions may apply, depending on the type of contract you own or the annuitant's age at contract issue. ANNUITY PAYOUT OPTIONS - -------------------------------------------------------------------- Fixed annuity payout options o Life annuity* o Life annuity with period certain* o Life annuity with refund certain* o Period certain annuity - -------------------------------------------------------------------- Variable Immediate Annuity payout options (as described in a o Life annuity (not available in separate prospectus for this New York) option) o Life annuity with period certain* - --------------------------------------------------------------------
* not available for governmental employer EDC Plans in New York o Life annuity: An annuity that guarantees payments for the rest of the annuitant's life. Payments end with the last monthly payment before the annuitant's death. Because there is no continuation of benefits following the annuitant's death with this payout option, it provides the highest monthly payment of any of the life annuity options, so long as the annuitant is living. o Life annuity with period certain: An annuity that guarantees payments for the rest of the annuitant's life. If the annuitant dies before the end of a selected period of time ("period certain"), payments continue to the beneficiary for the balance of the period certain. The period certain cannot extend beyond the annuitant's life expectancy or the joint life expectancy of the annuitant and the joint annuitant. o Life annuity with refund certain: An annuity that guarantees payments for the rest of the annuitant's life. If the annuitant dies before the amount applied to purchase the annuity option has been recovered, payments to the beneficiary will continue until that amount has been recovered. This payout option is available only as a fixed annuity. o Period certain annuity: An annuity that guarantees payments for a specific period of time, usually 5, 10, 15, or 20 years. The guarantee period may not exceed the annuitant's life expectancy. This option does not guarantee payments for the rest of the annuitant's life. It 44 Accessing your money does not permit any repayment of the unpaid principal, so you cannot elect to receive part of the payments as a single sum payment with the rest paid in monthly annuity payments. Currently, this payout option is available only as a fixed annuity. This is the only form of annuity for annuitants in governmental employer EDC plans in New York. Life annuity payout options are not available for governmental employer EDC plans in New York. The life annuity, life annuity with period certain, and life annuity with refund certain payout options are available on a single life or joint and survivor life basis. The joint and survivor life annuity guarantees payments for the rest of the annuitant's life and, after the annuitant's death, payments continue to the survivor. Generally, unless the annuitant elects otherwise with the written consent of the spouse, this will be the form of annuity payment provided for married annuitants under qualified plans and certain TSAs. We may offer other payout options not outlined here. Your financial professional can provide details. FIXED ANNUITY PAYOUT OPTIONS With fixed annuities, we guarantee fixed annuity payments that will be based either on the tables of guaranteed annuity purchase factors in your contract or on our then current annuity purchase factors, whichever is more favorable for you. VARIABLE IMMEDIATE ANNUITY PAYOUT OPTIONS Variable Immediate Annuities are described in a separate prospectus that is available from your financial professional. Before you select a Variable Immediate Annuity payout option, you should read the prospectus which contains important information that you should know. Variable Immediate Annuities may be funded through your choice of available variable investment options investing in portfolios of AXA Premier VIP Trust and EQ Advisors Trust. The contract also offers a fixed income annuity payout option that can be elected in combination with the variable income annuity payout option. The amount of each variable income annuity payment will fluctuate, depending upon the performance of the variable investment options, and whether the actual rate of investment return is higher or lower than an assumed base rate. We may offer other payout options not outlined here. Your financial professional can provide details. SELECTING AN ANNUITY PAYOUT OPTION When you select a payout option, we will issue you a separate written agreement confirming your right to receive annuity payments. We require you to return your contract before annuity payments begin. Unless you choose a different payout option, we will pay annuity payments under a life annuity with a period certain of 10 years. You choose whether these payments will be either fixed or variable. The contract owner and annuitant must meet the issue age and payment requirements. You can choose the date annuity payments are to begin, but generally it may not be earlier than thirteen months from the EQUI-VEST(SM) contract date. You can change the date your annuity payments are to begin anytime before that date as long as you do not choose a date later than the 28th day of any month or later than your contract's maturity date. Your contract's maturity date is the date by which you must either take a lump sum withdrawal or select an annuity payout option. The maturity date is generally the contract date anniversary that follows the annuitant's 85th birthday. This may be different in some markets. Before your annuity payments are to begin, we will notify you by letter that the annuity payout options are available. Once you have selected a payout option and payments have begun, no change can be made, other than transfers among the variable investment options if a variable annuity is selected. We currently offer different payment frequencies on certain annuity payout options. In general, the total annual payout will be lower for more frequent payouts such (as monthly) because of the increased administrative expenses associated with more frequent payouts. Also, in general, the longer the period over which we expect to make payment, the lower will be your payment each year. The amount of the annuity payments will depend on: (1) the amount applied to purchase the annuity; (2) the type of annuity chosen, and whether it is fixed or variable; (3) in the case of a life annuity, the annuitant's age (or the annuitant's and joint annuitant's ages); and (4) in certain instances, the sex of the annuitant(s). In no event will you ever receive payments under a fixed option or an initial payment under a variable option of less than the minimum amounts guaranteed by the contract. If, at the time you elect a payout option, the amount to be applied is less than $2,000 or the initial payment under the form elected is less than $20 monthly, we reserve the right to pay the account value in a single sum rather than as payments under the payout option chosen. Please see Appendix IV later in this prospectus for state variations. EQUI-VEST(SM) AT RETIREMENT(SM) (Applicable only for TSA, SEP, SARSEP and SIMPLE IRA contracts) If you have a TSA, SEP, SARSEP and SIMPLE IRA contract, you may be eligible to convert your EQUI-VEST(SM) contract to a new EQUI-VEST(SM) At Retirement(SM) contract. EQUI-VEST(SM) At Retirement(SM) is a deferred variable annuity contract that offers living benefits (Guaranteed withdrawal benefit for life or Guaranteed minimum income benefit) and enhanced death benefits. The EQUI-VEST(SM) At Retirement(SM) contract has no withdrawal charges. At the time of conversion, you must meet the following conditions in order to qualify for this conversion offer. You must be between the ages of 55 and 85, your contract must have an account value of at least $50,000, you must purchase at least one of the living or enhanced death benefits, there can be no withdrawal charges applicable under your existing EQUI-VEST(SM) contract, and no rollover or direct transfer contributions can have been made to the existing contract in the two contract years prior to the date you apply for the new contract. For TSA contracts. you must also be separated from service with the employer which provided the funds for your TSA contract in Accessing your money 45 order to qualify. Please note that any outstanding loan including any interest accrued but unpaid under the existing EQUI-VEST(SM) contract must be paid in full or it will be deducted from your account value prior to the conversion. The written application for the new EQUI-VEST(SM) At Retirement(SM) contract must be received by our Processing Office no later than the close of business on December 31, 2016 or such later date as we state in writing to you. The EQUI-VEST(SM) At Retirement(SM) contract and its benefits, including the charges for such benefits are described in a separate prospectus. Applicable only for TSA Contracts We originally offered conversions from EQUI-VEST(SM) to an EQUI-VEST(SM) At Retirement(SM) only on a direct transfer basis; that is, funds from an existing TSA contract could be directly transferred to purchase a new EQUI-VEST(SM) At Retirement(SM) TSA contract. As a result of the 2007 Regulations discussed in "Tax information" in this prospectus, we intend to amend our procedures to permit TSA funds to be directly rolled over to an EQUI-VEST(SM) At Retirement(SM) IRA contract instead when the EQUI-VEST(SM) At Retirement(SM) TSA contract will not be part of an employer plan. 46 Accessing your money 5. Charges and expenses - -------------------------------------------------------------------------------- CHARGES THAT AXA EQUITABLE DEDUCTS We deduct the following charges each day from the net assets of each variable investment option. These charges are reflected in the unit values of each variable investment option: o A mortality and expense risk charge o A charge for other expenses We deduct the following charges from your account value. When we deduct these charges from your variable investment options, we reduce the number of units credited to your contract: o On the last day of the contract year an annual administrative charge, if applicable o Charge for third-party transfer or exchange (for series 300 and 400 only) o At the time you make certain withdrawals or surrender your contract, or your contract is terminated -- a withdrawal charge o At the time annuity payments are to begin -- charges designed to approximate certain taxes that may be imposed on us, such as premium taxes in your state. An annuity administrative fee may also apply More information about these charges appears below. The charges differ depending on which contract series you purchase. We will not increase these charges for the life of your contract, except as noted below. We may reduce certain charges under group or sponsored arrangements. See "Group or sponsored arrangements" below. To help with your retirement planning, we may offer other annuities with different charges, benefits and features. Please contact your financial professional for more information. CHARGES UNDER THE CONTRACTS MORTALITY AND EXPENSE RISKS CHARGE We deduct a daily charge from the net assets in each variable investment option to compensate us for mortality and expense risks, including the death benefit. The daily charge is currently equivalent to an annual rate of the net assets in each variable investment options as follows:
- --------------------------------------------------------------------------- EQ/Alliance Common Stock, EQ/Money Market Options All Other Variable Investment Options - --------------------------------------------------------------------------- series series series series series series 100 200 100 200 300 400 - --------------------------------------------------------------------------- current 0.56% 1.15% 0.50% 1.09% 1.10% 1.10% - --------------------------------------------------------------------------- maximum 0.65% 1.24% 0.50% 1.09% 1.10% 1.75% - ---------------------------------------------------------------------------
The mortality risk we assume is the risk that annuitants as a group will live for a longer time than our actuarial tables predict. If that happens, we would be paying more in annuity benefits than we planned. We also assume a risk that the mortality assumptions reflected in our guaranteed annuity payment tables, shown in each contract, will differ from actual mortality experience. We may change the actuarial basis for our guaranteed annuity payment tables, but only for new contributions and only at five year intervals from the contract date. Lastly, we assume a mortality risk to the extent that at the time of death, the guaranteed death benefit exceeds the cash value of the contract. The expense risk we assume is the risk that our expenses in providing the benefits and administering the contracts will be greater than we expect. To the extent that the mortality and expense risk charges are not needed to cover the actual expenses incurred, they may be considered an indirect reimbursement for certain sales and promotional expenses relating to the contracts. CHARGE FOR OTHER EXPENSES We deduct this daily charge from the net assets in each variable investment option. This charge, together with the annual administrative charge described below, is for providing administrative and financial accounting services under the contracts. The daily charge is equivalent to a maximum annual percentage of the net assets in each variable investment option as follows: Series 100 -- 0.84% o 0.60% reimburses us for research and development costs plus administrative expenses not covered by the annual administrative charge. o 0.24% reimburses us for the cost of financial accounting services we provide under the contracts. Series 200, 300 and 400 -- 0.25% o 0.25% reimburses us for expenses and financial accounting services we provide under the contracts; however, for series 300 and 400, we currently charge 0.24% for all the variable investment options except AXA Moderate Allocation, Multimanager Aggressive Equity, EQ/AllianceBernstein Common Stock and EQ/Money Market. We may, upon advance notice to you, increase the charge to 0.25% of the net assets for these variable investment options. MAXIMUM TOTAL CHARGES: Under series 100 and 200 contracts for the AXA Moderate Allocation, Multimanager Aggressive Equity, EQ/AllianceBernstein Common Stock and EQ/Money Market options, the combined amount of the Separate Account A charges to these variable investment options and Trust charges for investment advisory fees and direct operating expenses may not exceed a total annual rate of 1.75% of the value of the assets held in each of those variable investment options. Charges and expenses 47 Total Separate Account A annual expenses (not including the Trusts fees and other expenses) are guaranteed not to exceed a total annual rate of: (i) 2.00% for series 400 contracts; (ii) 1.35% for series 300 contracts; and (iii) 1.49% for series 100 and 200 contracts for the EQ/AllianceBernstein Common Stock, and EQ/Money Market options; and (iv) for series 100 and 200 contracts an annual rate of 1.34% for all the other options except for those in (iii). ANNUAL ADMINISTRATIVE CHARGE We deduct an administrative charge from your account value on the last business day of each contract year. We will deduct a pro rata portion of the charge if you surrender your contract, elect an annuity payout option or the annuitant dies during the contract year. Under series 300 and 400 contracts, during the first two contract years the charge is equal to $30 or, if less, 2% of your current account value plus any amount previously withdrawn during the contract year. The charge is $30 for contract years three and later. We may increase this charge if our administrative costs rise, but the charge will never exceed $65 annually. We also may waive the administrative charge for contracts having an account value of a specified amount on the last business day of each contract year -- currently $20,000 for SEP, SARSEP, and SIMPLE IRA contracts. We reserve the right to deduct this charge on a quarterly, rather than annual basis. Under series 100 and 200 contracts, the charge is equal to $30 or if less, 2% of the current account value plus any amount previously withdrawn during that contract year. For SEP, SARSEP, Unincorporated Trusteed and Annuitant-Owned HR-10 contracts, if at the end of any contract year your account value is at least $10,000, we will waive the annual administrative charge. For TSA, University TSA, EDC and Corporate Trusteed contracts the annual administrative charge is waived if the account value is at least $25,000 at the end of the contract year. The charge is deducted pro rata from the variable investment options and the guaranteed interest option. If those amounts are insufficient, we will make up the required amounts from the fixed maturity options to the extent you have value in those options. Charges deducted from the fixed maturity options are considered withdrawals and, as such, will result in a market value adjustment. We currently waive the annual administrative charge that would otherwise be deducted in the next contract year under any individually owned EQUI-VEST(SM) contract/certificate having an account value that, when combined with the account value of other EQUI-VEST(SM) contracts/certificates owned by the same person, exceeds $100,000 in the aggregate (as determined in January of each year). This does not apply to EQUI-VEST(SM) contracts/certificates owned by different members of the same household. We may change or discontinue this practice at any time without prior notice. CHARGE FOR THIRD-PARTY TRANSFER OR EXCHANGE Under series 300 and 400 contracts, we impose a charge for making a direct transfer of amounts from your contract to a third party, such as in the case of a trustee-to-trustee transfer for an IRA contract or if you request that your contract be exchanged for a contract issued by another insurance company. In either case, we will deduct from your account value any withdrawal charge that applies and a charge of $25 for each direct transfer or exchange. We reserve the right to increase this charge to a maximum of $65. WITHDRAWAL CHARGE A withdrawal charge may apply in three circumstances: (1) you make one or more withdrawals during a contract year; or (2) you surrender your contract; or (3) we terminate your contract. The amount of the charge will depend on whether the free withdrawal amount applies and the availability of one or more exceptions. In order to give you the exact dollar amount of the withdrawal you request, we deduct the amount of the withdrawal and the amount of the withdrawal charge from your account value. Any amount deducted to pay withdrawal charges is also subject to a withdrawal charge. We deduct the withdrawal amount and the withdrawal charge pro rata from the variable investment options and from the guaranteed interest option. If those amounts are insufficient, we will make up the required amounts from the fixed maturity options. If we deduct all or a portion of the withdrawal charge from the fixed maturity options, a market value adjustment will apply. See "About our fixed maturity options" in "More information" later in this prospectus. We may also reduce the withdrawal charge in order to comply with any state law requirement. See "Contracts issued in New York -- fixed maturity options" below. WITHDRAWAL CHARGE FOR SERIES 300 AND 400 CONTRACTS The amount of the withdrawal charge we deduct is equal to 6% of any contribution withdrawn attributable to contributions made during the current and five prior contract years measured from the date of the withdrawal. In the case of terminations, we will pay you the greater of the following up to a maximum of the account value: o the account value after any withdrawal charge has been imposed, or o the 10% free withdrawal amount plus the contributions made before the current and five prior participation years that have not been previously withdrawn plus 94% of (a) the remaining account value, minus (b) any administrative fees. For purposes of calculating the withdrawal charge, amounts withdrawn up to the free withdrawal amount are not considered a withdrawal of any contribution. We also treat contributions that have been invested the longest as being withdrawn first. We treat contributions as withdrawn before earnings for purposes of calculating the withdrawal charge. The withdrawal charge does not apply in the circumstances described below. 10% FREE WITHDRAWAL AMOUNT. Each contract year you can withdraw up to 10% of your account value without paying a withdrawal charge. 48 Charges and expenses The 10% free withdrawal amount is determined using your account value at the time you request a withdrawal, minus any other withdrawals made during the contract year. DEATH OR PURCHASE OF ANNUITY. The withdrawal charge does not apply if: o the annuitant dies and a death benefit is payable to the beneficiary. o we receive a properly completed election form providing for the account value to be used to buy a life contingent annuity payout option or a non-life annuity with a period certain for a term of at least ten years. DISABILITY, TERMINAL ILLNESS, OR CONFINEMENT TO NURSING HOME. The withdrawal charge also does not apply if: (i) the annuitant has qualified to receive Social Security disability benefits as certified by the Social Security Administration; or (ii) we receive proof satisfactory to us (including certification by a licensed physician) that the annuitant's life expectancy is six months or less; or (iii) the annuitant has been confined to a nursing home for more than 90 days (or such other period, as required in your state) as verified by a licensed physician. A nursing home for this purpose means one that 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. We reserve the right to impose a withdrawal charge, in accordance with your contract and applicable state law, with respect to a contribution if the condition as described in (i), (ii) or (iii) above existed at the time the contribution was remitted or if the condition began within the 12 month period following remittance. Some states may not permit us to waive the withdrawal charge in the above circumstances or may limit the circumstances for which the withdrawal charge may be waived. Your financial professional can provide more information or you may contact our processing office. For SEP, SARSEP and SIMPLE IRA contracts the withdrawal charge also does not apply: o after six contract years if the annuitant is at least age 59-1/2; or o if you request a refund of a contribution in excess of amounts allowed to be contributed under the federal income tax rules within one month of the date on which you made the contribution. WITHDRAWAL CHARGE FOR SERIES 100 AND 200 CONTRACTS 10% FREE WITHDRAWAL AMOUNT. No withdrawal charge will be applied during any contract year in which the amount withdrawn is less than or equal to 10% of the 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 withdrawal amount. For Trusteed, EDC (subject to state availability) and TSA contracts, this free withdrawal amount is available starting in the first contract year. For EDC (in certain states), SEP and SARSEP contracts, the free withdrawal amount is available only after three contract years have been completed or the annuitant has reached age 59-1/2. (Currently, we are waiving this restriction.) FOR TRUSTEED CONTRACTS. The amount of the withdrawal charge we deduct is equal to 6% of any contribution withdrawn attributable to contributions made during the current and five prior contract years measured from the date of the withdrawal. In the case of terminations, we will pay you the greater of the following up to a maximum of the account value: o the account value after any withdrawal charge has been imposed and after deducting the amount of any loan balance and accrued interest, or o the 10% free withdrawal amount plus the contributions made before the current and five prior participation years that have not been previously withdrawn plus 94% of (a) the remaining account value, minus (b) any administrative fees. For series 200 contracts issued for annuitants age 60 or older on the contract date this percentage will be 95% in the fifth contract year. For purposes of calculating the withdrawal charge, amounts withdrawn up to the free withdrawal amount are not considered a withdrawal of any contribution. We also treat contributions that have been invested the longest as being withdrawn first. We treat contributions as withdrawn before earnings for purposes of calculating the withdrawal charge. See "Tax information" later in this prospectus. The withdrawal charge does not apply in the circumstances described below. For Trusteed contracts the withdrawal charge does not apply if: o The annuitant dies and a death benefit is made available to the beneficiary. o We receive a properly completed election form providing for the account value to be used to buy a life annuity payout option. o The contract owner has completed at least five contract years and the annuitant has reached age 59-1/2. o We receive a request for the refund of an excess contribution within one month of the date the contribution is made. o In addition, for Corporate Trusteed contracts, the withdrawal charge does not apply if the annuitant has reached age 59-1/2 and has retired or employment has been terminated, no matter how many contract years have been completed. FOR SEP, SARSEP, TSA, EDC AND ANNUITANT-OWNED HR-10 CONTRACTS. The withdrawal charge equals a percentage of the amount withdrawn and may apply to any TSA and governmental employer EDC defaulted loans. The withdrawal charge equals a percentage of the amount of any such defaulted loans. Whether a withdrawal charge Charges and expenses 49 applies, and the percentage that applies, is determined using the same conditions that apply to withdrawals from your contract. The percentage that applies depends on the contract year in which the withdrawal is made, according to the following table: - --------------------------------- Contract Year(s) Charge - --------------------------------- 1 through 5 6%* - --------------------------------- 6 through 8 5 - --------------------------------- 9 4 - --------------------------------- 10 3 - --------------------------------- 11 2 - --------------------------------- 12 1 - --------------------------------- 13 and later 0 - --------------------------------- * This percentage may be reduced at older ages for certain contract series. Your financial professional can provide further details about the contract series you own. The total of all withdrawal charges assessed will not exceed 8% of all contributions made during the current contract year and the nine contract years before the withdrawal is made. The withdrawal charge does not apply in the circumstances described below. No withdrawal charge applies under SEP, SARSEP, TSA, EDC or Annuitant-Owned HR-10 contracts if: o after five contract years the annuitant is at least age 59-1/2; or o you request a refund of an excess contribution within one month of the date on which the contribution is made; or o the annuitant dies and the death benefit is made available to the beneficiary; or o after five contract years the annuitant is at least age 55 and the amount withdrawn is used to purchase from us a period certain annuity that extends beyond the annuitant's age 59-1/2 and allows no prepayment; or o after three contract years the amount withdrawn is used to purchase from us a period certain annuity for a term of at least 10 years, and allows no prepayment; or o the amount withdrawn is applied to the election of a life contingent annuity payout option. (This form of payment is not available for annuitants in governmental employer EDC Plans in New York); or o the amount withdrawn is applied to the election of a period certain annuity of at least 15 years, but not in excess of the annuitant's life expectancy, that allows no prepayment. (This is the only form of payment available for annuitants in governmental employer EDC plans in New York.) No withdrawal charge applies under a TSA or EDC (subject to state availability) contract if: o the annuitant has completed at least five contract years, has reached age 55 and has separated from service. No withdrawal charge applies under a SEP contract funding SARSEP arrangements if: o the amount withdrawn is a distribution of deferrals disallowed (plus or minus any gain or loss) by reason of the employer's failure to meet the Internal Revenue Code's requirement that 50% of eligible employees elect SARSEP within the plan year and the request for withdrawal is made by the April 15th of the calendar year following the calendar year in which you were notified of such disallowance; or o the amount withdrawn is an "excess contribution" (as such term is defined in Section 408(k)(6)(C)(iii) of the Internal Revenue Code), plus or minus any gain or loss and the request for withdrawal is made by April 15th of the calendar year following the calendar year in which the excess contributions were made; or o the amount withdrawn is an "excess deferral" (as such term is defined in Section 402(g)(2) of the Internal Revenue Code), plus or minus any gain or loss and the request for withdrawal is made by April 15th of the calendar year following the calendar year in which such excess deferrals were made. The tax consequences of withdrawals are discussed under "Tax information." NY EDC PLANS. As a result of regulations which apply to EDC plans of governmental employers in New York ("NY EDC plans"), EQUI-VEST(SM) contracts funding NY EDC plans contain special provisions that apply to all NY EDC plans whose EQUI-VEST(SM) funding arrangements became effective or were renewed on or after July 1, 1989. These provisions permit the automatic termination of all contracts issued in connection with a NY EDC plan five years after the effective date (or any renewal date) of its EQUI-VEST(SM) funding arrangement without the deduction of any contingent withdrawal charges. If agreed to by the employer or plan trustee and us, the period may be shorter than five years. A decision to permit the automatic termination of all contracts would result in the transfer of each contract's account value to a successor funding vehicle designated by the employer. The employer sponsoring a NY EDC plan or plan trustee can renew the EQUI-VEST(SM) funding arrangement in a written notice to us which includes a certification of compliance with procedures under the applicable regulations. We are not responsible for the validity of any certification by the employer. A written notice to transfer must be received by our processing office and accepted by us not later than seven days before the date on which a transfer is to occur. If an employer fails to notify us in writing as to a transfer of the NY EDC arrangement or as to its intention not to renew, we will continue the arrangement and associated contracts will not be automatically terminated. No further investment experience, whether positive or negative, will be credited under a NY EDC plan contract once the contract terminates. As with other tax-favored retirement programs in which the funding is affected by actions of a sponsoring employer, we are not required to provide annuitants with information relating to an employer's decision to exercise any termination right. FOR ALL SERIES CONTRACTS ISSUED IN NEW YORK -- FIXED MATURITY OPTIONS* For contracts issued in New York, the withdrawal charge that applies to withdrawals taken from amounts in the fixed maturity options will never exceed 6% and will be determined by applying the New York Declining Scale ("declining scale"). If you withdraw amounts that have 50 Charges and expenses been transferred from one fixed maturity option to another, we use the New York Alternative Scale ("alternative scale") if it produces a higher charge than the declining scale. * currently not available for TSA, EDC, Keogh and Corporate Trusteed contracts in New York
- ------------------------------------------------------------ Alternative Declining scale scale - ------------------------------------------------------------ Year of investment Year of transfer in fixed within fixed maturity option* maturity option* - ------------------------------------------------------------ Within year 1 6% Within year 1 5% - ------------------------------------------------------------ 2 6% 2 4% - ------------------------------------------------------------ 3 5% 3 3% - ------------------------------------------------------------ 4 4% 4 2% - ------------------------------------------------------------ 5 3% 5 1% - ------------------------------------------------------------ 6 2% After year 5 0% - ------------------------------------------------------------ After year 6 0% Not to exceed 1% times the number of years remaining in the fixed maturity option, rounded to the higher number of years. In other words, if 4.3 years remain, it would be a 5% charge. - ------------------------------------------------------------
* Measured from the contract date anniversary prior to the date of the contribution or transfer. In the following example we compare the withdrawal charge that would apply to a withdrawal from a series 400 contract that has an account value of $10,000; $8,000 from a contribution made three years ago and $2,000 from positive investment performance. o If you were to withdraw the total amount of the contribution within the first six years after it was made the series 400 withdrawal charge that generally applies would be $480 (6% of $8,000). However, if when you made your contribution you allocated it to a fixed maturity option, the withdrawal charge would be lower. According to the declining scale method described above, the withdrawal charge would be limited to 5% of the $8,000, or $400 in the third year. o The withdrawal charge may be different if when you made your contribution three years ago, you allocated it to a fixed maturity option and then in the third year, you transfer the amounts that apply to such contribution to a new fixed maturity option. In this example we assume that there is one year remaining in the new fixed maturity option. Because you made a transfer among the fixed maturity options, the alternative scale may now apply. Based on this alternative scale, a contribution that is transferred will be subject to a 5% withdrawal charge if you withdraw that contribution in the same year that you make the transfer. However, the withdrawal charge may not exceed 1% for each year remaining in the new fixed maturity option. Since, in this example, the time remaining in the new fixed maturity option is one year, the withdrawal charge under the alternative scale would be limited to 1%. Because New York regulations permit us to use the greater of the declining scale or the alternative scale, the withdrawal charge would be 5%, or $400, based on the declining scale. o The withdrawal charge may not exceed the charge that would normally apply under the contract. Use of a New York scale can only result in a lower charge. If your contribution has been in the contract for more than six years and therefore would not have a withdrawal charge associated with it, no withdrawal charge would apply. o If you take a withdrawal from an investment option other than the fixed maturity options, the amount available for withdrawal without a withdrawal charge is reduced. It will be reduced by the amount of the contribution in the fixed maturity options to which no withdrawal charge applies. o As of any date on which 50% or more of your account value is held in fixed maturity options, the free withdrawal amount is zero. For contracts issued in New York, you should consider that on the maturity date of a fixed maturity option if we have not received your instructions for allocation of your maturity value, we will transfer your maturity value to the fixed maturity option scheduled to mature next. If we are not offering other fixed maturity options, we will transfer your maturity value to the EQ/Money Market option. The potential for lower withdrawal charges for withdrawals from the fixed maturity options and the potential for a lower free withdrawal amount than those that would normally apply, should be taken into account when deciding whether to allocate amounts to or transfer amounts to or from, the fixed maturity options. FOR ALL CONTRACT SERIES CHARGES FOR STATE PREMIUM AND OTHER APPLICABLE TAXES We deduct a charge designed to approximate certain taxes that may be imposed on us, such as premium taxes in your state. Generally, we deduct the charge from the amount applied to provide an annuity payout option. The current tax charge that might be imposed varies by jurisdiction and ranges from 0% to 1%. VARIABLE IMMEDIATE ANNUITY PAYOUT OPTION ADMINISTRATIVE FEE We deduct a fee of $350 from the amount to be applied to the Variable Immediate Annuity payout option. This option may not be available at the time you elect to begin receiving annuity payouts or it may have a different charge. CHARGES THAT THE TRUSTS DEDUCT The Trusts deduct charges for the following types of fees and expenses: o Management fees ranging from 0.10% to 1.40%. o 12b-1 fees of 0.25% for Class IB/B shares. o Operating expenses, such as trustees' fees, independent auditors' fees, legal counsel fees, administrative service fees, custodian fees, and liability insurance. o Investment-related expenses, such as brokerage commissions. These charges are reflected in the daily share price of each portfolio. Since shares of each Trust are purchased at their net asset value, these fees and expenses are, in effect, passed on to the variable investment options and are reflected in their unit values. Certain portfolios available under the contract in turn invest in shares of other portfolios of AXA Premier VIP Trust and EQ Advisors Trust (collectively, the "underlying portfolios"). The underlying portfolios each have their own fees and expenses, including management fees, operating expenses, and Charges and expenses 51 investment related expenses such as brokerage commissions. For more information about these charges, please refer to the prospectuses for the Trusts. VARIATIONS IN CHARGES For certain groups offered the EQUI-VEST(SM) contract, we may reduce the withdrawal charges and/or separate account charges. We may also reduce or waive the annual administrative charge. We may make other changes to the contract, including a change in the minimum death benefit or the minimum initial contribution requirements; permitting additional circumstances under which the withdrawal charge is waived; and/or establishing different rates to maturity for the fixed maturity options. Our costs for sales, administration and mortality may vary based on a number of factors, including the size and type of group or sponsoring organization; the level of services provided by us or your financial professional; if AXA Equitable will be the sole contract provider; and the compensation we expect to pay the financial professional in connection with the sale of the contract(s). We take all these factors into account when reducing charges. In order for a group to be considered for reduced charges, it generally must meet certain requirements relative to existing and projected plan assets. We determine the applicable charge reductions and benefit adjustments according to our procedures in effect at the time we approve a group. We may change our pricing procedures from time to time or the required level of assets a group must have to be eligible for reduced charges. From time to time, an employer group has an existing arrangement with us, under which plan participants have individual contracts, and subsequently the employer purchases a group contract from us for new contributions and new participants only. Under these circumstances, we may make charge reductions or benefit adjustments under the existing individual contracts in order to reflect the same features, benefits and reduced costs as the group contract. We may also make charge reductions or benefit adjustments under existing individual contracts when an employer qualifies for a group contract but is unable to hold a group contract. Our pricing procedures for new groups may vary from the procedures we use for existing groups. For both new and established groups or sponsored arrangements that have formally requested a contract proposal from us, our prices may be negotiable. Price variations may impact the financial professional's compensation. An employer or plan administrator should ask about possible fee reductions or contract adjustments based on its situation. It would be in your best interest for your employer to formally request a contract proposal from us. Any variation in charges, pricing or benefits will reflect differences in our costs of selling the contracts and/or the contract services we or your financial professional provide and will not be unfairly discriminatory. Groups may be governed by federal income tax rules, ERISA or both. We make no representations with regard to the impact of these and other applicable laws on such programs. We recommend that employers, trustees and others purchasing or making contracts available for purchase under such programs seek the advice of their own legal and benefits advisers. 52 Charges and expenses 6. Payment of death benefit - -------------------------------------------------------------------------------- YOUR BENEFICIARY AND PAYMENT OF BENEFIT You designate your beneficiary when you apply for your contract. You may change your beneficiary at any time. The change will be effective on the date the written request for the change is received in our processing office. We are not responsible for any beneficiary change request that we do not receive. We will send you a written confirmation when we receive your request. Generally, the owner must be the beneficiary under tax exempt employer EDC plan contracts and the trustee must be the beneficiary under most Trusteed contracts. DEATH BENEFIT Your contract provides a death benefit. The death benefit is equal to the greater of (i) your account value (without adjustment for any otherwise applicable negative market value adjustment) and less any outstanding loan balance plus accrued interest as of the date we receive satisfactory proof of death, any required instructions, information and forms necessary to effect payment or (ii) the "minimum death benefit." The minimum death benefit is equal to your total contributions, adjusted for withdrawals and any withdrawal charges and any taxes that apply, less any outstanding loan balance plus accrued interest. HOW WITHDRAWALS AFFECT THE MINIMUM DEATH BENEFIT Depending upon the contract series, the contract date, and the state where your contract is issued, each withdrawal you make will reduce the amount of your current minimum death benefit on a pro rata basis. Reduction on a pro rata basis means that we calculate the percentage of your current account value that is being withdrawn and we reduce your current minimum death benefit by that same percentage. For example, if your account value is $30,000, and you withdraw $12,000 you have withdrawn 40% of your account value. If your minimum death benefit was $40,000 before the withdrawal, it would be reduced by $16,000 ($40,000 x .40) and your new minimum death benefit after the withdrawal would be $24,000 ($40,000-$16,000). Check with your financial professional. EFFECT OF THE ANNUITANT'S DEATH If the annuitant dies before the annuity payments begin, we will pay the death benefit to your beneficiary. Generally, the death of the annuitant terminates the contract. However, if you are the owner and annuitant and your spouse is the sole primary beneficiary the contract can be continued as follows: SUCCESSOR OWNER AND ANNUITANT FOR SEP, SARSEP AND SIMPLE IRAS (MAY NOT BE AVAILABLE IN ALL STATES). If you are the owner and annuitant and your spouse is the sole primary beneficiary, your spouse may elect upon your death, to continue the contract as the owner/ annuitant and no death benefit is payable until the surviving spouse's death. If your surviving spouse decides to continue the contract, as of the date we receive satisfactory proof of death, any required instructions, information and forms necessary to effect the successor owner/ annuitant feature, we will increase the account value to equal your minimum death benefit, if such death benefit is greater than such account value. The increase in the account value will be allocated to the investment options according to the allocation percentages we have on file for your contract. Thereafter, for series 300 and 400 withdrawal charges will no longer apply to contributions made before your death. Withdrawal charges will apply if additional contributions are made. These additional contributions will be withdrawn only after all other amounts have been withdrawn. For series 100 and 200 contracts, withdrawal charges will no longer apply and additional contributions may no longer be made. The determination of spousal status is made under applicable state law; however, in the event of a conflict between federal and state law, we follow federal rules. HOW DEATH BENEFIT PAYMENT IS MADE We will pay the death benefit to the beneficiary in the form of the annuity payout option you have chosen. If you have not chosen an annuity payout option as of the time of the annuitant's death, the beneficiary will receive the death benefit in a single sum. However, subject to any exceptions in the contract, our rules and applicable federal income tax rules, the beneficiary may elect to apply the death benefit to one or more annuity payout options we offer at the time. See "Your annuity payout options" under "Accessing your money" earlier in this prospectus. Please note that if you are both the contract owner and the annuitant, you may elect only a life annuity or an annuity that does not extend beyond the life expectancy of the beneficiary. Single sum payments generally are paid through the AXA Equitable Access Account, an interest bearing account with check writing privileges. The AXA Equitable Access Account is part of AXA Equitable's general account. Beneficiaries have immediate access to the proceeds by writing a check on the account. We pay interest from the date the single sum is deposited into the Access Account until the account is closed. BENEFICIARY CONTINUATION OPTION (FOR TSAS, SEPS, SARSEP AND SIMPLE IRAS ONLY) Upon your death under a TSA, SEP, SARSEP or SIMPLE IRA contract, your beneficiary may generally elect to keep the contract in your name and receive distributions under the contract instead of receiving the death benefit in a single sum. This feature must be elected by September 30th of the year following the calendar year of your death and before any other inconsistent election is made. Beneficiaries who do not make a timely election will not be eligible for this option. If the election is made, then as of the date we receive satisfactory proof of death, any required instructions, information and forms necessary to effect the beneficiary continuation option feature, we will increase the Payment of death benefit 53 account value to equal the applicable death benefit if such death benefit is greater than such account value. The increase in account value will be allocated to the investment options according to the allocation percentages we have on file for your contract. Generally, payments will be made once a year to the beneficiary over the beneficiary's life expectancy (determined in the calendar year after your death and determined on a term certain basis). These payments must begin no later than December 31st of the calendar year after the year of your death. For sole spousal beneficiaries, payments may begin by December 31st of the calendar year in which you would have reached age 70-1/2, if such time is later. If you die before your Required Beginning Date for required minimum distributions as discussed in "Tax information" later in this prospectus, the beneficiary may choose the "5-year rule" instead of annual payments over life expectancy. If the beneficiary chooses this option, the beneficiary may take withdrawals as desired, but the entire account value must be fully withdrawn by December 31st of the calendar year which contains the fifth anniversary of your death. Under the beneficiary continuation option: o The contract continues with your name on it the benefit of your beneficiary. o This feature is only available if the beneficiary is an individual. Certain trusts with only individual beneficiaries will be treated as individuals for this purpose. o If there is more than one beneficiary, each beneficiary's share will be separately accounted for. It will be distributed over the beneficiary's own life expectancy, if payments over life expectancy are chosen. o The minimum amount that is required in order to elect the beneficiary continuation option is $5,000 for each beneficiary. o The beneficiary may make transfers among the investment options, but no additional contributions will be permitted. o Loans will no longer be available for TSA contracts. o Any death benefit provision (including the minimum death benefit provision) will no longer be in effect. o The beneficiary may choose at any time to withdraw all or a portion of the account value and no withdrawal charges will apply. o Any partial withdrawal must be at least $300. o Your beneficiary will have the right to name a beneficiary to receive any remaining interest in the contract. o Upon the death of your beneficiary, the beneficiary he or she has named has the option to either continue taking required minimum distributions based on the remaining life expectancy of the deceased beneficiary or to receive any remaining interest in the contract in a lump sum. The option elected will be processed when we receive satisfactory proof of death, any required instructions for the method of payment and any required information and forms necessary to effect payment. The beneficiary continuation option may not be available in your state. Check with your financial professional or our processing office regarding availability in your state. 54 Payment of death benefit 7. Tax information - -------------------------------------------------------------------------------- TAX INFORMATION AND ERISA MATTERS OVERVIEW This section of the prospectus discusses the current federal income tax rules that generally apply to annuity contracts which may be used to fund certain employer-sponsored retirement plans. Federal income tax rules include the United States laws in the Internal Revenue Code, and Treasury Department Regulations and Internal Revenue Service ("IRS") interpretations of the Internal Revenue Code. These tax rules may change without notice. We cannot predict whether, when, or how these rules could change. Any change could affect contracts purchased before the change. Congress may also consider proposals in the future to comprehensively reform or overhaul the United States tax and retirement systems, which if enacted, could affect the tax benefits of a contract. We cannot predict what, if any, legislation will actually be proposed or enacted. We cannot provide detailed information on all tax aspects of the plans or contracts. Moreover, the tax aspects that apply to a particular person's plan or contract may vary depending on the facts applicable to that person. We do not discuss state income and other state taxes, federal income tax and withholding rules for non-U.S. taxpayers, or federal gift and estate taxes. Rights or values under plans or contracts or payments under the contracts, for example, amounts due to beneficiaries, may be subject to federal or state gift, estate or inheritance taxes. You should not rely only on this document, but should consult your tax adviser before your purchase. BUYING A CONTRACT TO FUND A RETIREMENT ARRANGEMENT Generally, there are two types of funding vehicles that are available for Section 403(b) plans: a 403(b) TSA annuity contract such as an EQUI-VEST(SM) TSA or a 403(b)(7) custodial account. Similarly, an employer-sponsored individual retirement arrangement such as a SEP-IRA, SARSEP IRA or SIMPLE IRA can be purchased in annuity or custodial account form. An EDC plan may be funded by specified annuity contracts, custodial accounts or trustee arrangements. Annuity contracts can also be purchased in connection with employer plans qualified under Section 401 of the Code ("qualified plans"). How these arrangements work, including special rules applicable to each, are described in the specific sections for each type of arrangement, below. You should be aware that the funding vehicle for a tax-qualified arrangement does not provide any tax deferral benefit beyond that already provided by the Code for all permissible funding vehicles. Before choosing an annuity contract, therefore, you should consider the annuity's features and benefits, such as EQUI-VEST(SM)'s guaranteed minimum death benefit, selection of variable investment options, provision of a guaranteed interest option and fixed maturity options and choices of payout options, as well as the features and benefits of other permissible funding vehicles and the relative costs of annuities and other such arrangements. You should be aware that cost may vary depending on the features and benefits made available and the charges and expenses of the portfolios. Certain provisions of the Treasury Regulations on required minimum distributions concerning the actuarial present value of additional contract benefits could increase the amount required to be distributed from individual retirement annuity contracts and annuity contracts funding 401(a) qualified plans, 403(b) plans and 457(b) plans. For this purpose, additional annuity contract benefits may include enhanced death benefits. You should consider the potential implication of these Regulations before you purchase this annuity contract. SPECIAL RULES FOR TAX-FAVORED RETIREMENT PROGRAMS Employer-sponsored retirement plans can use annuity contracts to fund the plan unless the plan specifically prohibits annuity contracts as a funding vehicle. Federal income tax rules prescribe how a retirement plan qualifies for tax-favored status and set requirements for plan features, including: o participation and coverage; o nondiscrimination; o vesting and funding; o limits on contributions, distributions, and benefits; o withholding; o reporting and disclosure; and o penalties. - -------------------------------------------------------------------------------- State income tax rules covering contributions to and distributions from employer-sponsored retirement programs may differ from federal income tax rules. It is the responsibility of the employer, plan trustee and plan administrator to satisfy federal income tax, state income tax and other state rules and ERISA rules. - -------------------------------------------------------------------------------- ADDITIONAL "SAVER'S CREDIT" FOR SALARY REDUCTION CONTRIBUTIONS TO CERTAIN PLANS OR A TRADITIONAL IRA OR ROTH IRA You may be eligible for a nonrefundable income tax credit for salary reduction contributions you make to a 401(k) plan, 403(b) plan, governmental employer 457(b) EDC plan, SIMPLE IRA, or SARSEP IRA, as well as contributions you make to a traditional IRA or Roth IRA. If you qualify, you may take this credit even though your salary reduction contribution is already excluded from tax or your traditional IRA contribution is already fully or partially deductible. To take advantage of this "saver's credit" you must be age 18 or over before the end of the taxable year for which the contribution is made. You cannot be a full-time student or claimed as a dependent on another's tax return, and Tax information 55 your adjusted gross income cannot exceed $50,000 ($53,000, after cost of living adjustment for 2008.) The amount of the tax credit you can get varies from 10% of your contribution to 50% of your contribution, and depends on your income tax filing status and your adjusted gross income. The maximum annual contribution eligible for the saver's credit is $2,000. If you and your spouse file a joint return, and each of you qualifies, each is eligible for a maximum annual contribution of $2,000. Your saver's credit may also be reduced if you take or have taken a taxable distribution from any plan eligible for a saver's credit contribution -- even if you make a contribution to one plan and take the distribution from another plan -- during the "testing period." The "testing period" begins two years before the year for which you make the contribution and ends when your tax return is due for the year for which you make the contribution, including extensions. QUALIFIED PLANS GENERAL; CONTRIBUTIONS Any type of employer -- corporation, partnership, self-employed individual, governmental entity, non-profit organization -- is eligible to establish a qualified retirement plan under Section 401(a) of the Internal Revenue Code for participating employees. Because there are numerous technical federal income tax and Department of Labor "DOL" or "ERISA" rules covering establishment and operation of a qualified plan, we do not cover them in this prospectus. We also do not cover specific state law or other rules which may govern plans. Employers should consult their tax advisers for information. It is the employer's responsibility to figure out whether it is eligible to establish a plan, what kinds of plan it may establish, and whether an annuity contract may be used as a funding vehicle. There are limits on employer and employee contributions to qualified plans. Violation of contribution limits can result in plan disqualification and penalties. The annual limits on contributions do not apply to rollover contributions or trustee-to-trustee transfer contributions which may be permitted under the plan. The annual limit on contributions on behalf of an employee to all of the defined contribution plans of an employer for 2008 is the lesser of $46,000 (after adjustment for cost of living changes) or 100% of compensation or earned income. This amount may be further adjusted for cost of living changes in future years. When figuring out the contribution limit you have to: o include reallocated forfeitures and voluntary nondeductible employee contributions; o include compensation from the employer in the form of elective deferrals and excludible contributions under Section 457(b) EDC plans and "cafeteria" plans. These are plans giving employees a choice between cash and deferred benefits or specified excludible health and welfare benefits; and o disregard compensation or earned income of more than a specified amount. This amount is $230,000 for 2008. This amount may be further adjusted for cost of living changes in future years. "Salary reduction" or "elective deferral" contributions made under a 401(k) plan or other cash or deferred arrangement are limited to $15,500 for 2008 and may be further adjusted for cost of living changes in future years. This limit applies to the total of all elective deferrals under all tax-favored plans in which the individual participates, from all employers, for example, also including salary reduction contributions under 403(b) plans. If the plan permits, an individual who is at least age 50 at any time during 2008 can make up to $5,000 additional salary reduction contributions for 2008. Except for governmental employer plans that do not elect to be subject to ERISA, qualified plans must not discriminate in favor of highly compensated employees. Special "top heavy" rules apply to plans where more than 60% of the contributions or benefits are allocated to defined highly compensated employees known as "key employees." Plan administrators must test compliance with both nondiscrimination and top heavy rules. 401(k) plans can adopt a "SIMPLE 401(k)" feature which enables the plan to meet nondiscrimination requirements without testing. The SIMPLE 401(k) feature requires the 401(k) plan to meet specified contribution, vesting, and exclusive plan requirements, similar to those discussed in this section of the prospectus under "SIMPLE IRAs." TAX-SHELTERED ANNUITY ARRANGEMENTS (TSAS) GENERAL This section of the Prospectus reflects our current understanding of some of the special federal income tax rules applicable to annuity contracts used to fund employer plans under Section 403(b) of the Internal Revenue Code. We refer to these contracts as "403(b) annuity contracts" or "Tax Sheltered Annuity contracts (TSAs)". - -------------------------------------------------------------------------------- The disclosure generally assumes that the TSA has 403(b) contract status or qualifies as a 403(b) contract. Due to Internal Revenue Service and Treasury regulatory changes in 2007 which become fully effective on January 1, 2009, contracts issued prior to September 25, 2007 which qualified as 403(b) contracts under the rules at the time of issue may lose their status as 403(b) contracts or have the availability of transactions under the contract restricted as of January 1, 2009 unless the individual's employer or the individual takes certain actions. Please consult your tax adviser regarding the effect of these rules (which may vary depending on the owner's employment status, plan participation status, and when and how the contract was acquired) on your personal situation. - -------------------------------------------------------------------------------- FINAL REGULATIONS UNDER SECTION 403(B) The IRS and the Treasury Department published final Treasury Regulations under Section 403(b) of the Code (2007 Regulations). As a result, there are significant revisions to the establishment and operation of plans and arrangements under Section 403(b) of the Code, and the contracts issued to fund such plans. These rules become fully effective on January 1, 2009, but various transition rules apply beginning in 2007. There are a number of uncertainties regarding the application of these rules. The 2007 Regulations raise a number of questions as to the effect of the 2007 Regulations on 403(b) TSA contracts issued prior to the effective date of the 2007 Regulations. The IRS has issued guidance intended to clarify some of these questions, and may issue further guidance in future years. 56 Tax information EMPLOYER PLAN REQUIREMENT. The thrust of the 2007 Regulations is to require a written plan document for Section 403(b) plans. As of January 1, 2009, employers sponsoring 403(b) plans must have a written plan designating administrative responsibilities for various functions under the plan, and the plan in operation must conform to the plan terms. As part of this process, the sponsoring employer must also designate the insurance companies or mutual fund companies to which it will make contributions to purchase 403(b) annuity contracts or 403(b)(7) custodial accounts under its 403(b) plan. These companies are typically referred to as "approved providers" or "approved vendors" under the employer's 403(b) plan, although such terms are not used in the 2007 Regulations. If AXA Equitable is not an approved provider under an employer's 403(b) plan, active participants in that employer's plan may have to transfer funds from their EQUI-VEST(SM) TSA contracts to another 403(b) plan funding vehicle in a contract exchange under the same plan in order to retain 403(b) status for those funds. GENERAL; SPECIAL EMPLOYER RULES An employer eligible to maintain a 403(b) plan for its employees may make contributions to purchase a 403(b) funding vehicle for the benefit of the employee. These contributions, if properly made, will not be currently taxable compensation to the employee. Moreover, the employee will not be taxed on the earnings in the 403(b) funding vehicle until he/she takes distributions. Generally, there are two types of funding vehicles available to fund 403(b) plans: an annuity contract under Section 403(b)(1) of the Internal Revenue Code or a custodial account that invests only in mutual funds and which is treated as an annuity contract under section 403(b)(7) of the Code. Both types of 403(b) arrangements qualify for tax deferral. Two different types of employers are eligible to maintain 403(b) plans: public schools and specified tax-exempt organizations under Section 501(c)(3) of the Code. CONTRIBUTIONS TO TSAS There are three ways you can make contributions to this EQUI-VEST(SM) TSA contract: o annual contributions made through the employer's payroll; or o with employer or plan approval, a rollover from another eligible retirement plan; or o with employer or plan approval, a plan-to-plan direct transfer of assets or a contract exchange under the same 403(b) plan. ANNUAL CONTRIBUTIONS MADE THROUGH THE EMPLOYER'S PAYROLL. Annual contributions to 403(b) TSA contracts made through the employer's payroll are limited. (Tax-free plan-to-plan direct transfer contributions from another 403(b) plan, contract exhanges under the same plan, and rollover contributions from another eligible retirement plan are not subject to these annual contribution limits.) Commonly, some or all of the contributions made to a TSA are made under a salary reduction agreement between the employee and the employer. These contributions are called "salary reduction contributions" or "elective deferral contributions" and are generally made on a pre-tax basis. However, a TSA can also be wholly or partially funded through non-elective pre-tax employer contributions or contributions treated as after-tax employee contributions. If the employer's plan permits, and as reported to us by the employer, an employee may designate some or all of salary reduction contributions as "designated Roth contributions" under Section 402A of the Code which are made on an after-tax basis. The permissible annual contributions to the participant's TSA is calculated the same way as contributions to a 401(k) plan: o The annual limit on employer and employee contributions to defined contribution plans for 2008 is the lesser of $46,000 (after adjustment for cost of living changes) or 100% of compensation, o The annual limit on all salary reduction or elective deferral contributions under all employer plans you participate in is generally limited to $15,500 for 2008 (after adjustment for cost of living changes). These limits may be further adjusted for cost of living changes in future years. Special provisions may allow certain participants with at least 15 years of service to make "catch-up" contributions to compensate for smaller contributions made in previous years. In addition, if the plan permits, an individual who is at least age 50 at any time during 2008 can make up to $5,000 additional salary reduction contributions for 2008. If contributions to a 403(b) TSA contract exceed the applicable limit in any year, the excess will be taxable to the employee as ordinary income. In certain situations, we may distribute excess contributions to avoid tax penalties. Any excess deferral contributions which are not withdrawn by April 15th after the year of the deferral may cause the contract to fail 403(b) rules. ROLLOVER CONTRIBUTIONS. After a TSA contract has been established with 403(b) plan source funds, federal tax law permits rollover contributions to be made to a TSA contract from these sources: qualified plans, governmental employer 457(b) plans and traditional IRAs, as well as other 403(b) plan funding vehicles. The recipient 403(b) plan must allow such contributions to be made. Generally, funds may be rolled over when a plan participant has a distributable event from an eligible retirement plan as a result of: o termination of employment with the employer who provided the funds for the plan; or o reaching age 59-1/2 even if still employed; or o disability (special federal income tax definition). If the source of the rollover contribution is pre-tax funds from a traditional IRA, no specific event is required. You should discuss with your tax adviser whether you should consider rolling over funds from one type of tax-qualified retirement plan to another because the funds will generally be subject to the rules of the recipient plan. For example, funds in a governmental employer 457(b) plan are not subject to the additional 10% federal income tax penalty for premature distributions, but they may become subject to this pen- Tax information 57 alty if you roll the funds to a different type of eligible retirement plan and subsequently take a premature distribution. Further, in light of the restrictions on the ability to take distributions or loans from a 403(b) contract without plan or employer approval under the 2007 Regulations, a plan participant should consider carefully whether to roll an eligible rollover distribution (which is no longer subject to distribution restrictions) to a 403(b) plan funding vehicle, or to traditional IRA instead. If the recipient plan separately accounts for funds rolled over from another eligible retirement plan, the IRS has ruled that an exception is available in certain situations to withdrawal restrictions that would otherwise apply to the rollover contribution funds in the recipient plan. ROLLOVERS OF AFTER-TAX CONTRIBUTIONS FROM CERTAIN ELIGIBLE RETIREMENT PLANS. NON-ROTH AFTER-TAX CONTRIBUTIONS. Any non-Roth after-tax contributions you have made to a qualified plan or TSA (but not a governmental employer 457(b) EDC plan) may be directly rolled over to another qualified plan or TSA which agrees to do required separate accounting. This can only be done in a direct rollover, not a rollover you do yourself. Non-Roth after-tax contributions in a traditional IRA cannot be rolled over from the traditional IRA into a qualified plan or TSA. DESIGNATED ROTH CONTRIBUTIONS. If the after-tax contributions are in a "designated Roth account" under a 403(b) plan or a 401(k) plan which permits designated Roth elective deferral contributions to be made, they can be rolled into another "designated Roth account" under another 403(b) plan or a 401(k) plan. They cannot be rolled over to a non-Roth after-tax contribution account. You may not roll over Roth IRA funds into a designated Roth account under a 403(b) plan or a 401(k) plan. We are not currently accepting rollovers of designated Roth account funds from another 403(b) plan into an EQUI-VEST(SM) TSA contract. LIMITATIONS ON INDIVIDUAL INITIATED DIRECT TRANSFERS. The 2007 Regulations revoke Revenue Ruling 90-24 (Rev. Rul. 90-24), effective January 1, 2009. Prior to the 2007 Regulations, Rev. Rul. 90-24 had permitted individual-initiated, tax-free direct transfers of funds from one 403(b) contract to another, without reportable taxable income to the individual. Under transitional rules in the 2007 Regulations and other IRS published guidance, direct transfers made after September 24, 2007 may still be permitted with plan or employer approval as described below. DIRECT TRANSFER CONTRIBUTIONS. A tax-free direct transfer occurs when changing the 403(b) plan funding vehicle, even if there is no distributable event. Under a direct transfer a plan participant does not receive a distribution. The 2007 Regulations provide for two types of direct transfers between 403(b) funding vehicles: "plan-to-plan transfers" and "contract exchanges within the same 403(b) plan". 403(b) plans do not have to offer these options. A "plan-to-plan transfer" must meet the following conditions: (i) both the source 403(b) plan and the recipient 403(b) plan permit plan-to-plan transfers; (ii) the transfer from one 403(b) plan to another 403(b) plan is made for a participant (or beneficiary of a deceased participant) who is an employee or former employee of the employer sponsoring the recipient 403(b) plan; (iii) immediately after the transfer the accumulated benefit of the participant (or beneficiary) whose assets are being transferred is at least equal to the participant's (or beneficiary's) accumulated benefit immediately before the transfer; (iv) the recipient 403(b) plan imposes distribution restrictions on transferred amounts at least as stringent as those imposed under the source 403(b) plan; and (v) if the plan-to-plan transfer is not a complete transfer of the participant's (or beneficiary's) interest in the source 403(b) plan, the recipient 403(b) plan treats the amount transferred as a continuation of a pro rata portion of the participant's (or beneficiary's) interest in the source 403(b) plan (for example with respect to the participant's interest in any after-tax employee contributions). A "contract exchange within the same 403(b) plan" must meet the following conditions: (i) the 403(b) plan under which the contract is issued must permit contract exchanges; (ii) immediately after the exchange the accumulated benefit of the participant (or beneficiary of a deceased participant) is at least equal to the participant's (or beneficiary's) accumulated benefit immediately before the exchange (taking into account the accumulated benefit of that participant (or beneficiary) under both section 403(b) contracts immediately before the exchange); (iii) the contract issued in the exchange is subject to distribution restrictions with respect to the participant that are not less stringent than those imposed on the contract being exchanged; and (iv) the employer sponsoring the 403(b) plan and the issuer of the contract issued in the exchange agree to provide each other with specified information from time to time in the future ("an information sharing agreement"). The shared information is designed to preserve the requirements of Section 403(b), primarily to comply with loan requirements, hardship withdrawal rules, and distribution restrictions. We currently do not offer a 403(b) contract for a beneficiary of a deceased participant as described above. TSA contracts issued by AXA Equitable pursuant to a Rev. Rul. 90-24 direct transfer where applications and all transfer paperwork were received by our processing office in good order prior to September 25, 2007 are "grandfathered" as to 403(b) status. However, future transactions such as loans and distributions under such "grandfathered" contracts may result in adverse tax consequences to the owner unless the contracts are or become part of the employer's 403(b) plan, or the employer enters into an information sharing agreement with us. We currently do not accept direct transfers of designated Roth account funds from another 403(b) plan. SPECIAL RULE FOR ROLLOVER OR DIRECT TRANSFER CONTRIBUTIONS AFTER AGE 70-1/2. The amount of any rollover or direct transfer contributions made to a 403(b) annuity contract must be net of the required minimum distribution for the tax year in which the contract is issued if the owner is at least age 70-1/2 in the calendar year the contribution is made, and has retired from service with the employer who sponsored the plan or provided the funds to purchase the 403(b) annuity contract which is the source of the contribution. DISTRIBUTIONS FROM QUALIFIED PLANS AND TSAS GENERAL Generally, after the 2007 Regulations, employer or plan administrator consent is required for loan, withdrawal or distribution transactions 58 Tax information under a 403(b) annuity contract. Processing of a requested transaction will not be completed pending receipt of information required to process the transaction under an information sharing agreement between AXA Equitable and the employer sponsoring the plan. Similar rules apply to loan and withdrawal requests for qualified plans. WITHDRAWAL RESTRICTIONS. You generally are not able to withdraw or take payment from your TSA contract or 401(k) qualified plan unless you reach age 59-1/2, die, become disabled (special federal income tax definition), sever employment with the employer which provided the funds for the TSA contract or qualified plan, or suffer financial hardship (special federal income tax definition.) Hardship withdrawals are limited to the amount of your salary reduction contributions without earnings and must be approved by the employer or the plan. These restrictions do not apply to your account balance attributable to salary reduction contributions to the TSA contract and earnings on December 31, 1988 or to your account balance attributable to employer contributions. To take advantage of this grandfathering you must properly notify us in writing at our processing office of your December 31, 1988 account balance if you had qualifying amounts directly transferred to your EQUI-VEST(SM) TSA contract from another TSA in a Revenue Ruling 90-24 transfer. If any portion of the funds directly transferred to your TSA contract is attributable to amounts that you invested in a 403(b)(7) custodial account, such amounts, including earnings, are subject to withdrawal restrictions. Withdrawals from TSA contracts with designated Roth contribution funds are subject to these restrictions on distributions from TSA contracts. If the recipient plan separately accounts for funds rolled over from another eligible retirement plan, the IRS has ruled that an exception is available in certain situations to withdrawal restrictions that would otherwise apply to the rollover contribution funds in the recipient plan. TAX TREATMENT OF DISTRIBUTIONS FROM QUALIFIED PLANS AND TSAS. Amounts held under qualified plans and TSAs are generally not subject to federal income tax until benefits are distributed. Distributions include withdrawals and annuity payments. Death benefits paid to a beneficiary are also taxable distributions unless an exception applies. (For example, there is a limited exclusion from gross income for distributions used to pay qualified health insurance premiums of an eligible retired public safety officer from eligible governmental employer qualified plans, 403(b) plans and 457(b) plans.) Amounts distributed from qualified plans and TSAs are includable in gross income as ordinary income, not capital gain. (Under limited circumstances specified in federal income tax rules, qualified plan participants, not TSA participants, are eligible for capital gains or income averaging treatment on distributions.) Distributions from qualified plans and TSAs may be subject to 20% federal income tax withholding. See "Federal and state income tax withholding and information reporting" below. In addition, qualified plan and TSA distributions may be subject to additional tax penalties. If you have made after-tax contributions, both non-Roth and designated Roth, you will have a tax basis in your qualified plan or TSA contract, which will be recovered tax-free. Unless we have been provided acceptable documentation for the amounts of any after-tax contributions to your TSA or qualified plan contract, we assume that all amounts distributed from your TSA or qualified plan contract are pre-tax, and we withhold tax and report accordingly. DESIGNATED ROTH CONTRIBUTION ACCOUNT. Section 402A of the Code provides that a qualified distribution from a designated Roth contribution account is not includible in income. A qualified distribution can only be made on specified events such as attaining age 59-1/2 or death. Also, because there can be no qualified distribution until after the expiration of a 5-year aging period beginning with the date an individual first makes a designated Roth contribution to a designated Roth account under the applicable retirement plan, the earliest a qualified distribution from a designated Roth contribution account could be made is 2011. Therefore, earnings attributable to a distribution from a designated Roth account may be includible in income. DISTRIBUTIONS BEFORE ANNUITY PAYMENTS BEGIN. On a total surrender, the amount received in excess of the investment in the contract is taxable. We will report the total amount of the distribution. The amount of any partial distribution from a qualified plan or TSA prior to the annuity starting date is generally taxable, except to the extent that the distribution is treated as a withdrawal of after-tax contributions. Distributions are normally treated as pro rata withdrawals of after-tax contributions and earnings on those contributions. This treatment is the same for non-qualified distributions from a designated Roth account under a 401(k) or 403(b) plan. ANNUITY PAYMENTS. If you elect an annuity payout option, the nontaxable portion of each payment is calculated by dividing your investment in the contract by an expected return determined under an IRS table prescribed for qualified annuities. The balance of each payment is fully taxable. The full amount of the payments received after your investment in the contract is recovered is fully taxable. If you (and your beneficiary under a joint and survivor annuity) die before recovering the full investment in the contract, a deduction is allowed on your (or your beneficiary's) final tax return. PAYMENTS TO A BENEFICIARY AFTER YOUR DEATH. Death benefit distributions from a qualified plan or TSA generally receive the same tax treatment as distributions during your lifetime. In some instances, distributions from a qualified plan or TSA made to your surviving spouse may be rolled over to a traditional IRA or other eligible retirement plan. A surviving spouse might also be eligible to roll over a death benefit to a Roth IRA in a taxable conversion rollover, beginning in 2008. A non-spousal death beneficiary may be able to directly roll over death benefits to a new traditional inherited IRA under certain circumstances. LOANS FROM QUALIFIED PLANS AND TSAS. The following discussion also applies to loans under governmental employer 457(b) EDC plans. See "Public and tax-exempt organization employee deferred compensation plans (EDC Plans)" later in this prospectus. If the plan permits, loans are available from a qualified plan or 403(b) contract. Loans are subject to federal income tax limits and may also be subject to the limits of the plan from which the funds came. Federal income tax rule requirements apply even if the plan is not subject to ERISA. Please see Appendix IV later in this prospectus for any state rules that may affect loans from a qualified plan or TSA plan. Tax information 59 EFFECT OF 2007 REGULATIONS ON LOANS FROM TSAS. As a result of the 2007 Regulations loans are not available without employer or plan administrator approval. Loan processing may be delayed pending receipt of information required to process the loan under an information sharing agreement. Processing of a loan request will not be completed pending receipt of information required to process the transaction under an information sharing agreement between AXA Equitable and the employer sponsoring the plan. If loans are available: Loans are generally not treated as a taxable distribution. If the amount of the loan exceeds permissible limits under federal income tax rules when made, the amount of the excess is treated (solely for tax purposes) as a taxable distribution. Additionally, if the loan is not repaid at least quarterly, amortizing (paying down) interest and principal, the amount not repaid when due will be treated as a taxable distribution. Finally, unpaid loans may become taxable when the individual severs from employment with the employer which provided the funds for the contract. In addition, the 10% early distribution penalty tax may apply. We report the entire unpaid balance of the loan (including unpaid interest) as includable in income in the year of the default. The amount of the unpaid loan balance is reported to the IRS on Form 1099-R as a distribution. o The amount of a loan to a participant, when combined with all other loans to the participant from all qualified plans of the employer, cannot exceed the lesser of (1) the greater of $10,000 or 50% of the participant's nonforfeitable accrued benefits and (2) $50,000 reduced by the excess (if any) of the highest outstanding loan balance over the previous twelve months over the outstanding loan balance of plan loans on the date the loan was made. Governmental employer 457(b) EDC plans and 403(b) plans are included in "all qualified plans of the employer" for this purpose. Also, for the purposes of calculating any subsequent loans which may be made under any plan of the same employer, a defaulted loan is treated as still outstanding even after the default is reported to the IRS. The amount treated as outstanding (which limits any subsequent loan) includes interest on the unpaid balance. o In general, the term of the loan cannot exceed five years unless the loan is used to acquire the participant's primary residence. EQUI-VEST(SM) contracts have a term limit of 10 years for loans used to acquire the participant's primary residence. o All principal and interest must be amortized in substantially level payments over the term of the loan, with payments being made at least quarterly. In very limited circumstances, the repayment obligation may be temporarily suspended during a leave of absence. TAX-DEFERRED ROLLOVERS AND DIRECT TRANSFERS. If withdrawal restrictions discussed earlier do not apply, you may roll over any "eligible rollover distribution" from a qualified plan or TSA into another eligible retirement plan which agrees to accept the rollover. The rollover may be a direct rollover or a rollover you do yourself within 60 days after you receive the distribution. To the extent rolled over, it remains tax-deferred. You may roll over a distribution of pre-tax funds from a qualified plan to any of the following: another qualified plan, a governmental employer 457(b) plan, a traditional IRA or a 403(b) plan. You may roll over a distribution from a 403(b) annuity contract to any of the following: another 403(b) plan funding vehicle, a qualified plan, a governmental employer 457(b) plan or a traditional IRA. A spousal beneficiary may also roll over death benefits as above. A non-spousal death beneficiary may be able to directly roll over death benefits to a new traditional inherited IRA under certain circumstances. Effective beginning in 2008, distributions from a qualified plan or 403(b) plan can be rolled over to a Roth IRA. Such conversion rollover transactions are taxable. Any taxable portion of the amount rolled over will be taxed at the time of the rollover. Rollovers are subject to the Roth IRA conversion rules, which restrict conversions of traditional IRAs to Roth IRAs to taxpayers with adjusted gross income of no more than $100,000, whether single or married filing jointly. The recipient plan must agree to take the distribution. If you are rolling over from a qualified plan or 403(b) plan to a governmental employer 457(b) EDC plan, the recipient governmental employer 457(b) EDC plan must agree to separately account for the rolled-over funds. The taxable portion of most distributions will be eligible for rollover. However, federal income tax rules exclude certain distributions from rollover treatment including (1) periodic payments for life or for a period of 10 years or more, (2) hardship withdrawals and (3) any required minimum distributions under federal income tax rules. NON-ROTH AFTER-TAX CONTRIBUTIONS. Any non-Roth after-tax contributions you have made to a qualified plan or TSA only may be directly rolled over to another qualified plan or TSA which agrees to do required separate accounting. This can only be done in a direct rollover, not a rollover you do yourself. You may roll over any non-Roth after-tax contributions you have made to a qualified plan or TSA to a traditional IRA (either in a direct rollover or a rollover you do yourself). When the recipient plan is a traditional IRA, you are responsible for recordkeeping and calculating the taxable amount of any distributions you take from that traditional IRA. Non-Roth after-tax contributions from a qualified plan or TSA which are rolled into a traditional IRA cannot be rolled back into a qualified plan or TSA. After-tax contributions may not be rolled into a governmental employer EDC plan. ROTH AFTER-TAX CONTRIBUTIONS. Amounts attributable to "designated Roth contributions" under a 403(b) plan may only be rolled over to another designated Roth contribution separate account under another 403(b) plan or a 401(k) plan or to a Roth IRA. They cannot be rolled over to a non-Roth after-tax contribution account under a 403(b) plan or a 401(k) plan. Similar rules apply to rolllovers of "designated Roth contributions" under a 401(k) plan. Before you decide to roll over your payment to another employer plan, you should check with the administrator of that plan about whether the plan accepts rollovers and, if so, the types of distributions it accepts. You should also check with the administrator of the receiving plan about any documents required to be completed before it will accept a rollover. You should discuss with your tax adviser the rules which may apply to the rolled over funds. For example, distributions from a governmental employer 457(b) EDC plan are generally not sub- 60 Tax information ject to the additional 10% federal income tax penalty for pre-age 59-1/2 distributions, which applies to other types of retirement plans. If you roll over funds from an eligible retirement plan which is not a governmental employer 457(b) EDC plan (qualified plan, 403(b) or traditional IRA) into a governmental employer 457(b) EDC plan, and you later take a distribution from the recipient government employer 457(b) EDC plan, those amounts generally remain subject to the penalty. You should check if the recipient plan separately accounts for funds rolled over from another eligible retirement plan, as the IRS has ruled that an exception is available in certain situations to withdrawal restrictions that would otherwise apply to the rollover contribution funds in the recipient plan. Direct 403(b) plan-to-plan transfers or contract exchanges under the same 403(b) plan are not distributions. If there is a mandatory distribution provision in your employer's plan for certain small amounts and you do not designate an eligible retirement plan to receive such a mandatory distribution, Treasury Regulations require a traditional IRA to be established on your behalf. DISTRIBUTION REQUIREMENTS Qualified plans and TSAs are subject to required minimum distribution rules. See "Required minimum distributions" later in this prospectus. SPOUSAL CONSENT RULES If ERISA rules apply to your qualified plan or TSA you will need to get spousal consent for loans, withdrawals or other distributions if you are married when you request a withdrawal type transaction under the TSA contract. In addition, unless you elect otherwise with the written consent of your spouse, the retirement benefits payable under the plan must be paid in the form of a qualified joint and survivor annuity. A qualified joint and survivor annuity is payable for the life of the annuitant with a survivor annuity for the life of the spouse in an amount not less than one-half of the amount payable to the annuitant during his or her lifetime. In addition, if you are married, the beneficiary must be your spouse, unless your spouse consents in writing to the designation of another beneficiary. If you are married and you die before annuity 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 a contrary election was in effect. However, your surviving spouse may elect, before payments begin, to receive payments in any form permitted under the terms of the employer's plan and the contract. EARLY DISTRIBUTION PENALTY TAX A penalty tax of 10% of the taxable portion of a distribution applies to distributions from a qualified plan or TSA before you reach age 59-1/2. This is in addition to any income tax. There are exceptions to the extra penalty tax. Some of the available exceptions to the pre-age 59-1/2 penalty tax include distributions made: o on or after your death; or o because you are disabled (special federal income tax definition); or o to pay for certain extraordinary medical expenses (special federal income tax definition); or o in any form of payout after you have separated from service (only if the separation occurs during or after the calendar year you reach age 55); or o in a payout in the form of substantially equal periodic payments made at least annually over your life (or your life expectancy), or over the joint lives of you and your beneficiary (or your joint life expectancies) using an IRS-approved distribution method (only after you have separated from service at any age). SIMPLIFIED EMPLOYEE PENSIONS (SEPS) An employer can establish a SEP plan for its employees and can make contributions to a contract for each eligible employee. A SEP-IRA contract is a form of traditional IRA contract, owned by the employee-annuitant and most of the rules which apply to traditional IRAs apply. See "Traditional Individual Retirement Annuities (traditional IRAs)" later in this prospectus. A major difference is the amount of permissible contributions. Rules similar to those discussed above under "Qualified plans -- General; contributions" apply. In 2008 an employer can annually contribute an amount for an employee up to the lesser of $46,000 or 25% of compensation. This amount may be further adjusted for cost of living change in future years. In figuring out compensation you exclude the employer's contribution to the SEP. Under our current practice, regular traditional IRA contributions by the employee may not be made under a SEP-IRA contract and are put into a separate traditional IRA contract. Salary reduction SEP (SARSEP) plans may no longer be established for years beginning after December 31, 1996. However, employers who had established SARSEP plans prior to 1997 can continue to make contributions on behalf of participating employees. Please consult your tax adviser. SIMPLE IRAS (SAVINGS INCENTIVE MATCH PLAN) An eligible employer may establish a "SIMPLE IRA" plan to make contributions to special individual retirement accounts or individual retirement annuities for its employees ("SIMPLE IRAs"). The IRS has issued various forms which may be used by employers to set up a SIMPLE IRA plan. Currently, we are accepting only those SIMPLE IRA plans using IRS Form 5304-SIMPLE. Use of Form 5304-SIMPLE requires that the employer permit the employee to select a SIMPLE IRA provider. The employer cannot maintain any other qualified plan, SEP plan or TSA arrangement if it makes contributions under a SIMPLE IRA plan. (Eligible tax-exempt entity employers may maintain EDC plans.) Any type of employer -- corporation, partnership, self-employed person, government or tax-exempt entity -- is eligible to establish a SIMPLE IRA plan if it meets the requirements about number of employees and compensation of those employees. It is the responsibility of the employer to determine whether it is eligible to establish a SIMPLE IRA plan and whether such plan is appropriate. The employer must have no more than 100 employees who earned at least $5,000 in compensation from the employer in the prior calendar year. Tax information 61 An employer establishing a SIMPLE IRA plan should consult its tax adviser concerning the various technical rules applicable to establishing and maintaining SIMPLE IRA plans. For example, the definition of employee's "compensation" may vary depending on whether it is used in the context of employer eligibility, employee participation and employee or employer contributions. Participation must be open to all employees who received at least $5,000 in compensation from the employer in any two preceding years (they do not have to be consecutive years) and who are reasonably expected to receive at least $5,000 in compensation during the year. (Certain collective bargaining unit and alien employees may be excluded.) The only kinds of contributions which may be made to a SIMPLE IRA are (i) contributions under a salary reduction agreement entered into between the employer and the participating employee and (ii) required employer contributions (employer matching contributions or employer nonelective contributions). (Direct transfer and rollover contributions from other SIMPLE IRAs, but not traditional IRAs or Roth IRAs, may also be made.) Salary reduction contributions can be any percentage of compensation (or a specific dollar amount, if the employer's plan permits) but are limited to $10,500 in 2008. This limit may be further adjusted for cost of living changes in future years. If the plan permits, an individual at least age 50 at any time during 2008 can make up to $2,500 additional salary reduction contributions for 2008. Generally, the employer is required to make matching contributions on behalf of each eligible employee in an amount equal to the salary reduction contributions, up to 3% of the employee's compensation. In certain circumstances, an employer may elect to make required employer contributions on an alternate basis. Employer matching contributions to a SIMPLE IRA for self-employed individuals are treated the same as matching contributions for employees. (They are not subject to the elective deferral limits.) TAX TREATMENT OF SIMPLE IRAS Unless specifically otherwise mentioned, for example, regarding differences in permissible contributions and potential penalty tax on distributions, the rules which apply to traditional IRAs also apply to SIMPLE IRAs. See "Traditional Individual Retirement Annuities (traditional IRAs)" later in this prospectus. Amounts contributed to SIMPLE IRAs are not currently taxable to employees. Only the employer can deduct SIMPLE IRA contributions, not the employee. An employee eligible to participate in a SIMPLE IRA is treated as an active participant in an employer plan and thus may not be able to deduct (fully) regular contributions to his/her own traditional IRA. As with traditional IRAs in general, contributions and earnings accumulate tax deferred until withdrawn and are then fully taxable. There are no withdrawal restrictions applicable to SIMPLE IRAs. However, because of the level of employer involvement, SIMPLE IRA plans are subject to ERISA. See the rules under "ERISA Matters" below. Amounts withdrawn from a SIMPLE IRA can always be rolled over to another SIMPLE IRA. No rollovers from a SIMPLE IRA to a non-SIMPLE IRA are permitted for individuals under age 59-1/2 who have not participated in the employer's SIMPLE IRA plan for two full years. Also, for such individuals, any amounts withdrawn from a SIMPLE IRA are not only fully taxable but are also subject to a 25% (not 10%) additional federal income tax penalty. (The exceptions for death, disability, etc. apply.) PUBLIC AND TAX-EXEMPT ORGANIZATION EMPLOYEE DEFERRED COMPENSATION PLANS (EDC PLANS) SPECIAL EMPLOYER AND OWNERSHIP RULES. Employers eligible to maintain EDC plans under Section 457(b) of the Code are governmental entities such as states, municipalities and state agencies (governmental employer) or tax-exempt entities (tax-exempt employer). Participation in an EDC plan of a tax-exempt employer is limited to a select group of management or highly compensated employees because of ERISA rules that do not apply to governmental employer plans. The rules that apply to tax-exempt employer EDC plans and governmental employer EDC plans may differ. An employer can fund its EDC plan in whole or in part with annuity contracts purchased for participating employees and their beneficiaries. These employees do not have to include in income the employer's contributions to purchase the EDC contracts or any earnings until they actually receive funds from a governmental employer EDC plan. The participants of a tax-exempt employer EDC plan may have to include in income the employer contributions and any earnings when they are entitled to receive funds from the EDC plan. The EDC plan funds are subject to the claims of the employer's general creditors in an EDC plan maintained by a tax-exempt employer. In an EDC plan maintained by a governmental employer, the plan's assets must be held in trust for the exclusive benefit of employees. An annuity contract can be a trust equivalent if the contract includes the trust rules. Regardless of contract ownership, the EDC plan may permit the employee to choose among various investment options. CONTRIBUTION LIMITS. For both governmental and tax-exempt employer EDC plans, the maximum contribution for 2008 is the lesser of $15,500 or 100% of includible compensation. This limit may be further adjusted for cost of living changes in future years. Special rules may permit "catch-up" contributions during the three years preceding normal retirement age under the EDC plan. If the plan provides for catch-up contributions for any of the 3 years of service preceding the plan retirement age, the maximum contribution for an individual eligible to make such catch-up contributions is twice the otherwise applicable dollar limit, or $31,000 for 2008. For governmental employer EDC plans only, if the plan permits, an individual at least age 50 at any time during 2008 may be able to make up to $5,000 additional salary reduction contributions. An individual must coordinate this "age 50" catch-up with the other "last 3 years of service" catch up. GOVERNMENTAL EMPLOYER EDC PLANS -- ROLLOVER CONTRIBUTIONS. Eligible rollover distributions of pre-tax funds from 403(b) plans, 401(a) qualified plans, other governmental employer EDC plans and traditional IRAs may be rolled over into other such plans. The recipient plan 62 Tax information must agree to take the distribution. If the source of the eligible rollover distribution is not a governmental employer EDC plan and the recipient plan is a governmental employer EDC plan, the recipient governmental employer EDC plan must agree to separately account for the rolled-over funds. Before you decide to roll over your payment to another employer plan, you should check with the administrator of that plan about whether the plan accepts rollovers and, if so, the types of distributions it accepts. You should also check with the administrator of the receiving plan about any documents required to be completed before it will accept a rollover. You should discuss with your tax adviser whether you should consider rolling over funds from one type of tax qualified retirement plan to another, because the funds will generally be subject to the rules of the recipient plan. For example, funds in a governmental employer EDC plan are not subject to the additional 10% federal income tax penalty for premature distributions, but they may become subject to this penalty if you roll the funds to a different type of eligible retirement plan and subsequently take a premature distribution. WITHDRAWAL LIMITS. In general, no amounts may be withdrawn from an EDC plan prior to the calendar year in which the employee attains age 70-1/2, severs from employment with the employer or is faced with an unforeseeable emergency. Small amounts (up to $5000) may be taken out by the plan participant or forced out by the plan under certain circumstances, even though the plan participant may still be working and amounts would not otherwise be made available. Such a mandatory forced-out distribution is an eligible rollover distribution. Treasury Regulations require a direct roll-over to a traditional IRA established for a plan participant who does not affirmatively designate an eligible retirement plan to receive such a mandatory distribution. For funds rolled over from another eligible retirement plan, because the funds are separately accounted for, the IRS has ruled that an exception is available in certain situations to withdrawal restrictions that would otherwise apply to the rollover contribution funds in the recipient plan. DISTRIBUTION REQUIREMENTS. EDC plans are subject to minimum distribution rules similar to those that apply to qualified plans. See "Required minimum distributions" later in this prospectus. That is, distributions from EDC plans generally must start no later than April 1st of the calendar year following the calendar year in which the employee attains age 70-1/2 or retires from service with the employer maintaining the EDC plan, whichever is later. Failure to make required distributions may cause the disqualification of the EDC plan. Disqualification may result in current taxation of EDC plan benefits. In addition, a 50% penalty tax is imposed on the difference between the required distribution amount and the amount actually distributed, if any. It is the plan administrator's responsibility to see that minimum distributions from an EDC plan are made. If the EDC plan provides, a deceased employee's beneficiary may be able to elect to receive death benefits in installments instead of a lump sum, and the payments will be taxed as they are received. TAX TREATMENT OF DISTRIBUTIONS -- TAX-EXEMPT EMPLOYER EDC PLANS. Amounts are taxable under a tax-exempt employer EDC plan when they are made available to a participant or beneficiary even if not actually received. Distributions to a tax-exempt employer EDC plan participant are characterized as "wages" for income tax reporting and withholding purposes. No election out of withholding is possible. See "Federal and state income tax withholding and information reporting" later in this prospectus. Withholding on wages is the employer's responsibility. Distributions from an EDC plan are not subject to FICA tax, if FICA tax was withheld by the employer when wages were deferred. Distributions from a tax-exempt employer EDC plan may not be rolled over to any other eligible retirement plan. TAX TREATMENT OF DISTRIBUTIONS -- GOVERNMENTAL EMPLOYER EDC PLANS. The taxation of distributions from a governmental employer EDC plan is generally the same as the tax treatment of distributions from qualified plans and TSAs discussed earlier in this prospectus. That is, amounts are generally not subject to tax until actually distributed and amounts may be subject to 20% federal income tax withholding. See "Federal and State income tax withholding and information reporting" later in this prospectus. However, distributions from a governmental employer EDC plan are generally not subject to the additional 10% federal income tax penalty for pre-age 59-1/2 distributions. TAX-DEFERRED ROLLOVERS -- GOVERNMENTAL EMPLOYER EDC PLANS. A participant in a governmental employer EDC plan or in certain cases, a beneficiary, may be able to roll over an eligible rollover distribution from the plan to a traditional IRA, qualified plan or 403(b) plan, as well as to another governmental employer EDC plan. The recipient plan must agree to take the distribution. If you roll over funds from a governmental employer EDC plan into a different type of eligible retirement plan (qualified plan, 403(b), or traditional IRA), any subsequent distributions may be subject to the 10% federal income tax penalty noted above. Before you decide to roll over your payment to another employer plan, you should check with the administrator of that plan about whether the plan accepts rollovers and, if so, the types of distributions it accepts. You should also check with the administrator of the receiving plan about any documents required to be completed before it will accept a rollover. Effective beginning in 2008, distributions from governmental employer 457(b) plan can be rolled over to a Roth IRA. Such conversion rollover transactions are taxable. Any taxable portion of the amount rolled over will be taxed at the time of the rollover. Rollovers are subject to the Roth IRA conversion rules, which restrict conversions of traditional IRAs to Roth IRAs to taxpayers with adjusted gross income of no more than $100,000, whether single or married filing jointly. LOANS FROM GOVERNMENTAL EMPLOYER EDC PLANS. Same as for qualified plans and TSAs. (See "Loans from qualified plans and TSAs" under "Distributions from qualified plans and TSAs" earlier in this prospectus.) TRADITIONAL INDIVIDUAL RETIREMENT ANNUITIES (TRADITIONAL IRAS) This part of the prospectus contains the information that the IRS requires you to have before you purchase an IRA and covers some of the special tax rules that apply to IRAs. Tax information 63 GENERAL "IRA" stands for individual retirement arrangement. There are two basic types of such arrangements, individual retirement accounts and individual retirement annuities. In an individual retirement account, a trustee or custodian holds the assets funding the account for the benefit of the IRA owner. The assets typically include mutual funds and/or individual stocks and securities in a custodial account and bank certificates of deposit in a trusteed account. In an individual retirement annuity, an insurance company issues an annuity contract that serves as the IRA. There are two basic types of IRAs, as follows: o traditional IRAs, typically funded on a pre-tax basis, including SEP- IRAs and SIMPLE IRAs issued and funded in connection with employer-sponsored retirement plans; and o Roth IRAs, funded on an after-tax basis. Roth IRAs are not available under this prospectus and are not discussed here. Regardless of the type of IRA, your ownership interest in the IRA cannot be forfeited. You or your beneficiaries who survive you are the only ones who can receive the IRA's benefits or payments. All types of IRAs qualify for tax deferral regardless of the funding vehicle selected. You can hold your IRA assets in as many different accounts and annuities as you would like, as long as you meet the rules for setting up and making contributions to IRAs. However, if you own multiple IRAs, including IRAs funded by or through your employer, you may be required to combine IRA values or contributions for tax purposes. For further information about individual retirement arrangements, you can read Internal Revenue Service Publication 590 ("Individual Retirement Arrangements (IRAs)"). This publication is usually updated annually, and can be obtained from any IRS district office or the IRS website (www.irs.gov). AXA Equitable designs its traditional IRA contracts to qualify as individual retirement annuities under Section 408(b) of the Internal Revenue Code. We have received an opinion letter from the IRS approving the form of the EQUI-VEST(SM) SIMPLE IRA contract for use as a SIMPLE IRA. We have not applied for a formal opinion letter for certain EQUI-VEST(SM) SEP and SARSEP contracts which had been previously approved by the IRS as to form for use as a traditional IRA. This IRS approval is a determination only as to the form of the annuity. It does not represent a determination of the merits of the annuity as an investment. The IRS approval does not address every feature possibly available under the EQUI-VEST(SM) SEP, SARSEP and SIMPLE IRA contracts. CANCELLATION You can cancel an EQUI-VEST(SM) IRA contract by following the directions under "Your right to cancel within a certain number of days" earlier in this prospectus. If you cancel a contract, we may have to withhold tax and we must report the transaction to the IRS. A contract cancellation could have an unfavorable tax impact. CONTRIBUTIONS As SEP-IRA, SARSEP IRA and SIMPLE IRA contracts are employer-funded traditional IRAs, the employee does not make regular contributions to the contract other than through the employer. However, an employee can make rollover or transfer contributions to SEP- IRA, SARSEP IRA and in limited circumstances, to SIMPLE IRA contracts. We reserve the right to approve the circumstances under which we will take rollover contributions to EQUI-VEST(SM) SEP-IRA, SARSEP IRA and SIMPLE IRA contracts. RECHARACTERIZATION Employer-funded amounts that have been contributed as traditional IRA funds may, in some circumstances, subsequently be treated as Roth IRA funds. Special federal income tax rules allow you to change your mind again and have employer-funded amounts that are subsequently treated as Roth IRA funds, once again treated as traditional IRA funds. You do this by using the forms we prescribe. This is referred to as having "recharacterized" your contribution. ROLLOVER AND TRANSFER CONTRIBUTIONS TO TRADITIONAL IRAS Rollover contributions may be made to a traditional IRA from these "eligible retirement plans": o qualified plans; o governmental employer 457(b) plans; o 403(b) plans; and o other traditional IRAs. Direct transfer contributions may only be made directly from one traditional IRA to another. Any amount contributed to a traditional IRA after you reach age 70-1/2 must be net of your required minimum distribution for the year in which the rollover or direct transfer contribution is made. ROLLOVERS FROM ELIGIBLE RETIREMENT PLANS OTHER THAN TRADITIONAL IRAS Your plan administrator will tell you whether or not your distribution is eligible to be rolled over. Spousal beneficiaries and spousal alternate payees under qualified domestic relations orders may roll over funds on the same basis as the plan participant. A non-spousal death beneficiary may also be able to make a direct rollover to an inherited traditional IRA under certain circumstances. There are two ways to do rollovers: o Do it yourself: You actually receive a distribution that can be rolled over and you roll it over to a traditional IRA within 60 days after the date you receive the funds. The distribution from your eligible retirement plan will be net of 20% mandatory federal income tax withholding. If you want, you can replace the withheld funds yourself and roll over the full amount. o Direct rollover: You tell the trustee or custodian of the eligible retirement plan to send the eligible rollover distribution directly to your traditional IRA issuer. Direct rollovers are not subject to mandatory federal income tax withholding. 64 Tax information All distributions from a 403(b) plan, qualified plan or governmental employer 457(b) plan are eligible rollover distributions, unless the distribution is: o a "required minimum distribution" after age 70-1/2 or retirement; or o one of a series of substantially equal periodic payments made at least annually for your life (or life expectancy) or the joint lives (or joint life expectancies) of you and your designated beneficiary; or o one of a series of substantially equal periodic payments made for a specified period of 10 years or more; or o a hardship withdrawal; or o a corrective distribution which fits specified technical tax rules; or o a loan that is treated as a distribution; or o a death benefit payment to a beneficiary who is not your surviving spouse; or o a qualified domestic relations order distribution to a beneficiary who is not your current or former spouse. You should discuss with your tax adviser whether you should consider rolling over funds from one type of tax qualified retirement plan to another, because the funds will generally be subject to the rules of the recipient plan. For example, funds in a governmental employer 457(b) plan are not subject to the additional 10% federal income tax penalty for premature distributions, but they may become subject to this penalty if you roll the funds to a different type of eligible retirement plan, such as a traditional IRA, and subsequently take a premature distribution. ROLLOVERS OF AFTER-TAX CONTRIBUTIONS FROM ELIGIBLE RETIREMENT PLANS OTHER THAN TRADITIONAL IRAS Any non-Roth after-tax contributions you have made to a qualified plan or 403(b) plan (but not a governmental employer 457(b) plan) may be rolled over to a traditional IRA (either in a direct rollover or a rollover you do yourself). When the recipient plan is a traditional IRA, you are responsible for recordkeeping and calculating the taxable amount of any distributions you take from that traditional IRA. After-tax contributions in a traditional IRA cannot be rolled over from your traditional IRA into, or back into, a qualified plan, 403(b) plan or governmental employer EDC plan. ROLLOVERS FROM TRADITIONAL IRAS TO TRADITIONAL IRAS You may roll over amounts from one traditional IRA to one or more of your other traditional IRAs if you complete the transaction within 60 days after you receive the funds. You may make such a rollover only once in every 12-month period for the same funds. Trustee-to-trustee or custodian-to-custodian direct transfers are not rollover transactions. You can make these more frequently than once in every 12-month period. SPOUSAL ROLLOVERS AND DIVORCE-RELATED DIRECT TRANSFERS The surviving spousal beneficiary of a deceased individual can roll over or directly transfer an inherited traditional IRA to one or more other traditional IRAs. A non-spousal death beneficiary may also be able to make a direct rollover to an inherited traditional IRA under certain circumstances. Also, in some cases, traditional IRAs can be transferred on a tax-free basis between spouses or former spouses as a result of a court ordered divorce or separation decree. EXCESS CONTRIBUTIONS Excess contributions to IRAs are subject to a 6% excise tax for the year in which made and for each year after until withdrawn. The following are examples of excess contributions to IRAs: o regular contributions to a traditional IRA made after you reach age 70-1/2; or o rollover contributions of amounts which are not eligible to be rolled over, for example, minimum distributions required to be made after age 70-1/2. You can avoid the excise tax by withdrawing an excess contribution before the due date (including extensions) for filing your federal income tax return for the year. You do not have to include the excess contribution withdrawn as part of your income. It is also not subject to the 10% additional penalty tax on early distributions discussed below under "Early distribution penalty tax." You do have to withdraw any earnings that are attributed to the excess contribution. The withdrawn earnings would be included in your gross income and could be subject to the 10% penalty tax. Even after the due date for filing your return, you may withdraw an excess rollover contribution, without income inclusion or 10% penalty, if: (1) the rollover was from a qualified retirement plan to a traditional IRA; (2) the excess contribution was due to incorrect information that the plan provided; and (3) you took no tax deduction for the excess contribution. WITHDRAWALS, PAYMENTS AND TRANSFERS OF FUNDS OUT OF TRADITIONAL IRAS NO FEDERAL INCOME TAX LAW RESTRICTIONS ON WITHDRAWALS You can withdraw any or all of your funds from a traditional IRA at any time. You do not need to wait for a special event like retirement. TAXATION OF PAYMENTS Earnings in traditional IRAs are not subject to federal income tax until you or your beneficiary receive them. Taxable payments or distributions include withdrawals from your contract, surrender of your contract and annuity payments from your contract. Death benefits are also taxable. The conversion of amounts from a SEP-IRA, SARSEP IRA or SIMPLE IRA (after two plan participant years) to a Roth IRA is taxable. Generally, the total amount of any distribution from a traditional IRA must be included in your gross income as ordinary income. In addition, a distribution from a traditional IRA is not taxable if: o the amount received is a withdrawal of excess contributions, as described under "Excess contributions" above; or Tax information 65 o the entire amount received is rolled over to another traditional IRA or other eligible retirement plan. (See "Rollovers from eligible retirement plans other than traditional IRAs" above.) The following are eligible to receive rollovers of distributions from a traditional IRA; a qualified plan, a 403(b) plan or a governmental employer 457(b) plan. After-tax contributions in a traditional IRA cannot be rolled from your traditional IRA into, or back into, a qualified plan, 403(b) plan or governmental employer 457(b) plan. Before you decide to roll over a distribution from a traditional IRA to another eligible retirement plan, you should check with the administrator of that plan about whether the plan accepts rollovers and, if so, the types it accepts. You should also check with the administrator of the receiving plan about any documents required to be completed before it will accept a rollover. Distributions from a traditional IRA are not eligible for favorable ten-year averaging and long-term capital gain treatment available to certain distributions from qualified plans under very limited circumstances. REQUIRED MINIMUM DISTRIBUTIONS Traditional IRAs are subject to required minimum distribution rules described in "Required minimum distributions" later in this prospectus. PAYMENTS TO A BENEFICIARY AFTER YOUR DEATH IRA death benefits are taxed the same as IRA distributions. SUCCESSOR ANNUITANT AND OWNER If your spouse is the sole primary beneficiary and elects to become the successor annuitant and owner, no death benefit is payable until your surviving spouse's death. BORROWING AND LOANS ARE PROHIBITED TRANSACTIONS You cannot get loans from a traditional IRA. You cannot use a traditional IRA as collateral for a loan or other obligation. If you borrow against your IRA or use it as collateral, its tax-favored status will be lost as of the first day of the tax year in which this prohibited event occurs. If this happens, you must include the value of the traditional IRA in your federal gross income. Also, the early distribution penalty tax of 10% may apply if you have not reached age 59-1/2 before the first day of that tax year. EARLY DISTRIBUTION PENALTY TAX A penalty tax of 10% of the taxable portion of a distribution applies to distributions from a traditional IRA made before you reach age 59-1/2. Some of the available exceptions to the pre-age 59-1/2 penalty tax include distributions made: o on or after your death; or o because you are disabled (special federal income tax definition); or o to pay for certain extraordinary medical expenses (special federal income tax definition); or o to pay medical insurance premiums for unemployed individuals (special federal income tax definition); or o to pay certain first-time home buyer expenses (special federal income tax definition); or o to pay certain higher education expenses (special federal income tax definition); or o in the form of substantially equal periodic payments made at least annually over your life (or your life expectancy), or over the joint lives of you and your beneficiary (or your joint life expectancy) using an IRS-approved distribution method. ILLUSTRATION OF GUARANTEED INTEREST RATES In the following two tables, we provide information that the IRS requires us to furnish to prospective IRA contract owners. In the tables we illustrate the 1.00% minimum guaranteed interest rate for contributions we assume are allocated entirely to the guaranteed interest option. (The rate may be higher in your state.) In Table I we assume a $1,000 contribution made annually on the contract date and on each anniversary after that. We assume no withdrawals or transfers were made under the contract. In Table II we assume a single initial contribution of $1,000, and no additional contributions. We also assume no withdrawals or transfers. The guaranteed interest rate, which can range from 1.00% to 4.00%, is in the contract. The values shown assume the withdrawal charge applies. These values reflect the effect of the annual administrative charge deducted at the end of each contract year in which the account value is less than $20,000. To find the appropriate value for the end of the contract year at any particular age, you subtract the age (nearest birthday) at issue of the contract from the current age and find the corresponding year in the table. Years that correspond to a current age over 70, should be ignored. 66 Tax information You should consider the information shown in the tables in light of your present age. Also, with respect to Table I, you should consider your ability to contribute $1,000 annually. Any change in the amounts contributed annually in Table I, or in the amount of the single contribution in Table II would, of course, change the results shown. Table I guaranteed minimum interest rate of 1.00% (the rate may be higher in your state) TABLE I ACCOUNT VALUES AND CASH VALUES (ASSUMING $1,000 CONTRIBUTIONS MADE ANNUALLY AT THE BEGINNING OF THE CONTRACT YEAR)
- -------------------------------------------------------------------------------- 1.00% Minimum Guarantee 1.00% Minimum Guarantee --------------------------- ---------------------------- Contract Account Cash Contract Account Cash Year End Value Value Year End Value Value - -------------------------------------------------------------------------------- 1 $ 989.80 $ 936.35 26 $ 29,196.26 $ 28,836.26 - -------------------------------------------------------------------------------- 2 $ 1,979.70 $ 1,872.79 27 $ 30,498.22 $ 30,138.22 - -------------------------------------------------------------------------------- 3 $ 2,979.49 $ 2,818.60 28 $ 31,813.20 $ 31,453.20 - -------------------------------------------------------------------------------- 4 $ 3,989.29 $ 3,773.87 29 $ 33,141.33 $ 32,781.33 - -------------------------------------------------------------------------------- 5 $ 5,009.18 $ 4,738.69 30 $ 34,482.75 $ 34,122.75 - -------------------------------------------------------------------------------- 6 $ 6,039.27 $ 5,713.15 31 $ 35,837.57 $ 35,477.57 - -------------------------------------------------------------------------------- 7 $ 7,079.67 $ 6,719.67 32 $ 37,205.95 $ 36,845.95 - -------------------------------------------------------------------------------- 8 $ 8,130.46 $ 7,770.46 33 $ 38,588.01 $ 38,228.01 - -------------------------------------------------------------------------------- 9 $ 9,191.77 $ 8,831.77 34 $ 39,983.89 $ 39,623.89 - -------------------------------------------------------------------------------- 10 $ 10,263.69 $ 9,903.69 35 $ 41,393.73 $ 41,033.73 - -------------------------------------------------------------------------------- 11 $ 11,346.32 $ 10,986.32 36 $ 42,817.67 $ 42,457.67 - -------------------------------------------------------------------------------- 12 $ 12,439.79 $ 12,079.79 37 $ 44,255.84 $ 43,895.84 - -------------------------------------------------------------------------------- 13 $ 13,544.18 $ 13,184.18 38 $ 45,708.40 $ 45,348.40 - -------------------------------------------------------------------------------- 14 $ 14,659.63 $ 14,299.63 39 $ 47,175.49 $ 46,815.49 - -------------------------------------------------------------------------------- 15 $ 15,786.22 $ 15,426.22 40 $ 48,657.24 $ 48,297.24 - -------------------------------------------------------------------------------- 16 $ 16,924.08 $ 16,564.08 41 $ 50,153.81 $ 49,793.81 - -------------------------------------------------------------------------------- 17 $ 18,073.33 $ 17,713.33 42 $ 51,665.35 $ 51,305.35 - -------------------------------------------------------------------------------- 18 $ 19,234.06 $ 18,874.06 43 $ 53,192.00 $ 52,832.00 - -------------------------------------------------------------------------------- 19 $ 20,436.40 $ 20,076.40 44 $ 54,733.92 $ 54,373.92 - -------------------------------------------------------------------------------- 20 $ 21,650.76 $ 21,290.76 45 $ 56,291.26 $ 55,931.26 - -------------------------------------------------------------------------------- 21 $ 22,877.27 $ 22,517.27 46 $ 57,864.18 $ 57,504.18 - -------------------------------------------------------------------------------- 22 $ 24,116.04 $ 23,756.04 47 $ 59,452.82 $ 59,092.82 - -------------------------------------------------------------------------------- 23 $ 25,367.20 $ 25,007.20 48 $ 61,057.35 $ 60,697.35 - -------------------------------------------------------------------------------- 24 $ 26,630.88 $ 26,270.88 49 $ 62,677.92 $ 62,317.92 - -------------------------------------------------------------------------------- 25 $ 27,907.18 $ 27,547.18 50 $ 64,314.70 $ 63,954.70 - --------------------------------------------------------------------------------
Tax information 67 Table II guaranteed minimum interest rate of 1.00% (the rate may be higher in your state) TABLE II ACCOUNT VALUES AND CASH VALUES (ASSUMING A SINGLE CONTRIBUTION OF $1,000 AND NO FURTHER CONTRIBUTION)
- -------------------------------------------------------------------------------- 1.00% Minimum Guarantee 1.00% Minimum Guarantee --------------------------- ---------------------------- Contract Account Cash Contract Account Cash Year End Value Value Year End Value Value - -------------------------------------------------------------------------------- 1 $ 989.80 $ 936.35 26 $ 434.76 $ 434.76 - -------------------------------------------------------------------------------- 2 $ 979.70 $ 926.80 27 $ 409.11 $ 409.11 - -------------------------------------------------------------------------------- 3 $ 959.50 $ 907.69 28 $ 383.20 $ 383.20 - -------------------------------------------------------------------------------- 4 $ 939.10 $ 888.38 29 $ 357.03 $ 357.03 - -------------------------------------------------------------------------------- 5 $ 918.49 $ 868.89 30 $ 330.60 $ 330.60 - -------------------------------------------------------------------------------- 6 $ 897.67 $ 849.20 31 $ 303.91 $ 303.91 - -------------------------------------------------------------------------------- 7 $ 876.65 $ 876.65 32 $ 276.95 $ 276.95 - -------------------------------------------------------------------------------- 8 $ 855.42 $ 855.42 33 $ 249.72 $ 249.72 - -------------------------------------------------------------------------------- 9 $ 833.97 $ 833.97 34 $ 222.21 $ 222.21 - -------------------------------------------------------------------------------- 10 $ 812.31 $ 812.31 35 $ 194.44 $ 194.44 - -------------------------------------------------------------------------------- 11 $ 790.43 $ 790.43 36 $ 166.38 $ 166.38 - -------------------------------------------------------------------------------- 12 $ 768.34 $ 768.34 37 $ 138.04 $ 138.04 - -------------------------------------------------------------------------------- 13 $ 746.02 $ 746.02 38 $ 109.42 $ 109.42 - -------------------------------------------------------------------------------- 14 $ 723.48 $ 723.48 39 $ 80.52 $ 80.52 - -------------------------------------------------------------------------------- 15 $ 700.71 $ 700.71 40 $ 51.32 $ 51.32 - -------------------------------------------------------------------------------- 16 $ 677.72 $ 677.72 41 $ 21.84 $ 21.84 - -------------------------------------------------------------------------------- 17 $ 654.50 $ 654.50 42 $ 0.00 $ 0.00 - -------------------------------------------------------------------------------- 18 $ 631.04 $ 631.04 43 $ 0.00 $ 0.00 - -------------------------------------------------------------------------------- 19 $ 607.35 $ 607.35 44 $ 0.00 $ 0.00 - -------------------------------------------------------------------------------- 20 $ 583.43 $ 583.43 45 $ 0.00 $ 0.00 - -------------------------------------------------------------------------------- 21 $ 559.26 $ 559.26 46 $ 0.00 $ 0.00 - -------------------------------------------------------------------------------- 22 $ 534.85 $ 534.85 47 $ 0.00 $ 0.00 - -------------------------------------------------------------------------------- 23 $ 510.20 $ 510.20 48 $ 0.00 $ 0.00 - -------------------------------------------------------------------------------- 24 $ 485.31 $ 485.31 49 $ 0.00 $ 0.00 - -------------------------------------------------------------------------------- 25 $ 460.16 $ 460.16 50 $ 0.00 $ 0.00 - --------------------------------------------------------------------------------
68 Tax information REQUIRED MINIMUM DISTRIBUTIONS BACKGROUND ON REGULATIONS--REQUIRED MINIMUM DISTRIBUTIONS If you are a participant in a qualified retirement plan, a 457(b) plan (both employer types), or own a 403(b) TSA annuity contract or traditional IRA, including SEP, SARSEP or SIMPLE IRA, the required minimum distribution rules force you to start calculating and taking annual distributions from these tax-favored retirement plans and contracts by a specified date. The beginning date depends on the type of plan or contract, and your age and retirement status. The distribution requirements are designed to use up your interest in the plan over your life expectancy. Whether the correct amount has been distributed is calculated on a year-by-year basis; there are no provisions to allow amounts taken in excess of the required amount to be carried back to other years. Distributions must be made according to rules in the Code and Treasury Regulations and the terms of the plan. Certain provisions of the Treasury Regulations require that the actuarial present value of additional annuity contract benefits be added to the dollar amount credited for purposes of calculating certain types of required minimum distributions from individual retirement annuity contracts and annuity contracts funding tax qualified retirement plans, including 401(a) qualified plans, 403(b) plans, and 457(b) plans. For this purpose, additional annuity contract benefits may include enhanced death benefits. If you take annual withdrawals instead of receiving annuity payments, this could increase the amount required to be distributed from these contracts. LIFETIME REQUIRED MINIMUM DISTRIBUTIONS -- WHEN YOU HAVE TO TAKE THE FIRST REQUIRED MINIMUM DISTRIBUTION You must start taking annual distributions from your traditional IRAs for the year in which you turn age 70-1/2. Generally, qualified plan, 403(b) plan and 457(b) plan participants must also take the first required minimum distribution for the calendar year in which the participant turns age 70-1/2. However, qualified plan, 403(b) plan and 457(b) plan participants may be able to delay the start of required minimum distributions for all or part of the account balance until after age 70-1/2, as follows: o For qualified plan, 403(b) plan and 457(b) plan participants who have not retired from service with the employer who provided the funds for this qualified plan, 403(b) TSA, or EDC contract by the calendar year the participant turns age 70-1/2, the required beginning date for minimum distributions is extended to April 1st following the calendar year of retirement. Note that this rule does not apply to qualified plan participants who are 5% owners. o 403(b) plan participants may also delay the start of required minimum distributions to age 75 of the portion of their account value attributable to their December 31, 1986 403(b) TSA account balance, even if retired at age 70-1/2. The first required minimum distribution is for the calendar year in which you turn age 70-1/2, or the year you retire, if you are eligible for the delayed start rule. You have the choice to take this first required minimum distribution during the calendar year you turn 70-1/2 or retire or to delay taking it until the first three-month period in the next calendar year (January 1 - April 1). Distributions must start no later than your "Required Beginning Date," which is April 1st of the calendar year after the calendar year in which you turn age 70-1/2 or retire if you are eligible for the delayed start rule. If you choose to delay taking the first annual minimum distribution, then you will have to take two minimum distributions in that year -- the delayed one for the first year and the one actually for that year. Once minimum distributions begin, they must be made at some time each year. HOW YOU CALCULATE REQUIRED MINIMUM DISTRIBUTIONS There are two approaches to taking required minimum distributions -- "account-based" or "annuity-based." ACCOUNT-BASED METHOD. If you choose an "account-based" method, you divide the value of your qualified plan, 403(b) TSA account, 457(b) plan account, or traditional IRA as of December 31st of the past calendar year by a number corresponding to your age from an IRS table to give you the required minimum distribution amount for that particular plan or arrangement for that year. If your spouse is your sole beneficiary and more than 10 years younger than you, the dividing number you use may be from another IRS table and may produce a smaller lifetime required minimum distribution amount. Regardless of the table used, the required minimum distribution amount will vary each year as the account value, the actuarial present value of additional annuity contract benefits, if applicable, and the divisor change. If you initially choose an account-based method, you may be able to later apply your funds to a life annuity-based payout with any certain period not exceeding remaining life expectancy, determined in accordance with IRS tables. ANNUITY-BASED METHOD. If you choose an annuity-based method you do not have to do annual calculations. You apply the account value to an annuity payout for your life or the joint lives of you and a designated beneficiary, or for a period certain not extending beyond applicable life expectancies, determined in accordance with IRS tables. DO YOU HAVE TO PICK THE SAME METHOD TO CALCULATE YOUR REQUIRED MINIMUM DISTRIBUTIONS FOR ALL OF YOUR TRADITIONAL IRAS AND OTHER RETIREMENT PLANS? No, if you want, you can choose a different method for each of your traditional IRAs and other retirement plans. For example, you can choose an annuity payout from one IRA, a different annuity payout from a qualified plan, and an account-based annual withdrawal from another IRA. WILL WE PAY YOU THE ANNUAL AMOUNT EVERY YEAR FROM YOUR TRADITIONAL IRA BASED ON THE METHOD YOU CHOOSE? We will only pay you automatically if you affirmatively select an annuity payout option or an account-based withdrawal option such as our automatic minimum distribution withdrawal option. If you do not elect one of these options and you have any kind of traditional IRA (SEP, SARSEP or SIMPLE IRA), we will calculate the amount of the required minimum distribution withdrawal for you, if you so request in writing. However, in that case you will be responsible for asking us to pay the required minimum distribution withdrawal to you. Tax information 69 Also, the IRS will let you calculate the required minimum distribution for each traditional IRA or 403(b) TSA contract that you maintain, using the method that you picked for that particular IRA or TSA. You can add these required minimum distribution amount calculations together. As long as the total amount you take out every year satisfies your overall traditional IRA (or TSA) required minimum distribution amount, you may choose to take your annual required minimum distribution from any one or more traditional IRAs (or TSAs) that you own. WHAT IF YOU TAKE MORE THAN YOU NEED TO FOR ANY YEAR? The required minimum distribution amount for each of your plans and arrangements is calculated on a year-by-year basis. There are no carry-back or carry-forward provisions. Also, you cannot apply required minimum distribution amounts you take from your qualified plans to the amounts you have to take from your traditional IRAs and vice-versa. WHAT IF YOU TAKE LESS THAN YOU NEED TO FOR ANY YEAR? Your plan or arrangement could be disqualified, and you could have to pay tax on the entire value. Even if your plan or arrangement is not disqualified, you could have to pay a 50% penalty tax on the shortfall (required amount less amount actually taken). It is your responsibility to meet the required minimum distribution rules. We will remind you when our records show that you are within the age-group which must take lifetime required minimum distributions. If this is an IRA or TSA and you do not select a method with us, we will assume you are taking your required minimum distribution from another traditional IRA or TSA that you own. Note that in the case of a qualified plan or EDC the distribution must be taken annually from the qualified plan or EDC contract. WHAT ARE THE REQUIRED MINIMUM DISTRIBUTION PAYMENTS AFTER YOU DIE? These could vary, depending on whether you die before or after your Required Beginning Date for lifetime required minimum distribution payments, and the status of your beneficiary. The following assumes you have not yet elected an annuity-based payout at the time of your death. If you elect an annuity-based payout, payments (if any) after your death must be made at least as rapidly as when you were alive. INDIVIDUAL BENEFICIARY. Regardless of whether your death occurs before or after your Required Beginning Date, an individual death beneficiary calculates annual post-death required minimum distribution payments based on the beneficiary's life expectancy using the "term certain method." That is, he or she determines his or her life expectancy using the IRS-provided life expectancy tables as of the calendar year after the owner's or the participant's death and reduces that number by one each subsequent year. If you die before your Required Beginning Date, the rules permit any individual beneficiary, including a spousal beneficiary, to elect instead to apply the "5-year rule." Under this rule, instead of annual payments having to be made beginning with the first in the year following the owner's death, the entire account must be distributed by the end of the calendar year which contains the fifth anniversary of the owner's death. No distribution is required for a year before that fifth year. SPOUSAL BENEFICIARY. If you die after your Required Beginning Date, and your death beneficiary is your surviving spouse, your spouse has a number of choices. Post-death distributions may be made over your spouse's single life expectancy. Any amounts distributed after that surviving spouse's death are made over the spouse's life expectancy calculated in the year of his/her death, reduced by one for each subsequent year. In some circumstances, for traditional IRA contracts only, your surviving spouse may elect to become the owner of the traditional IRA and halt distributions until he or she reaches age 70-1/2, or roll over amounts from your traditional IRA into his/her own traditional IRA or other eligible retirement plan. If you die before your Required Beginning Date, and the death beneficiary is your surviving spouse, the rules permit the spouse to delay starting payments over his/her life expectancy until the year in which you would have attained age 70-1/2. Rollovers to another eligible retirement plan, including a traditional IRA, may be available to a surviving spouse death beneficiary. NON-INDIVIDUAL BENEFICIARY. If you die after your Required Beginning Date, and your death beneficiary is a non-individual such as the estate, the rules permit the beneficiary to calculate the post-death required minimum distribution amounts based on the owner's life expectancy in the year of death. However, note that we need an individual annuitant to keep an annuity contract in force. If the beneficiary is not an individual, we must distribute amounts remaining in the annuity contract after the death of the annuitant. If you die before your Required Beginning Date for lifetime required minimum distribution payments and the death beneficiary is a non-individual such as the estate, the rules continue to apply the 5-year rule discussed above under "Individual beneficiary." Please note that we need an individual annuitant to keep an annuity contract in force. If the beneficiary is not an individual, we must distribute amounts remaining in the annuity contract after the death of the annuitant. ERISA MATTERS ERISA rules are designed to save and protect qualified retirement plan assets to be paid to plan participants when they retire. Qualified plans under Section 401 of the Internal Revenue Code are generally subject to ERISA. Some TSAs may be subject to Title I of ERISA, generally dependent on the level of employer involvement, for example, if the employer makes matching contributions. In addition, certain loan rules apply only to loans under ERISA plans: o For contracts which are subject to ERISA, the trustee or sponsoring employer is responsible for ensuring that any loan meets applicable DOL requirements. It is the responsibility of the plan administrator, the trustee of the qualified plan and/or the employer, and not AXA Equitable, to properly administer any loan made to plan participants. o With respect to specific loans made by the plan to a plan participant, the plan administrator determines the interest rate, the maximum term consistent with EQUI-VEST(SM) processing and all other terms and conditions of the loan. 70 Tax information o Only 50% of the participant's vested account balance may serve as security for a loan. To the extent that a participant borrows an amount which should be secured by more than 50% of the participant's vested account balance, it is the responsibility of the trustee or plan administrator to obtain the additional security. o Each new or renewed loan must bear a reasonable rate of interest commensurate with the interest rates charged by persons in the business of lending money for loans that would be made under similar circumstances. o Loans must be available to all plan participants, former participants (or death beneficiaries of participants) who still have account balances under the plan, and alternate payees on a reasonably equivalent basis. o Plans subject to ERISA provide that the participant's spouse must consent in writing to the loan. CERTAIN RULES APPLICABLE TO PLANS DESIGNED TO COMPLY WITH SECTION 404(C) OF ERISA Section 404(c) of ERISA, and the related DOL regulation, provide that if a plan participant or beneficiary exercises control over the assets in his or her plan account, plan fiduciaries will not be liable for any loss that is the direct and necessary result of the plan participant's or beneficiary's exercise of control. As a result, if the plan complies with Section 404(c) and the DOL regulation thereunder, the plan participant can make and is responsible for the results of his or her own investment decisions. Section 404(c) plans must provide, among other things, that a broad range of investment choices are available to plan participants and beneficiaries and must provide such plan participants and beneficiaries with enough information to make informed investment decisions. Compliance with the Section 404(c) regulation is completely voluntary by the plan sponsor and the plan sponsor may choose not to comply with Section 404(c). The EQUI-VEST(SM) Trusteed, HR-10 Annuitant-Owned, SIMPLE IRA and TSA contracts provide the broad range of investment choices and information needed in order to meet the requirements of the Section 404(c) regulation. If the plan is intended to be a Section 404(c) plan, it is, however, the plan sponsor's responsibility to see that the requirements of the DOL regulation are met. AXA Equitable and its financial professionals shall not be responsible if a plan fails to meet the requirements of Section 404(c). FEDERAL AND STATE INCOME TAX WITHHOLDING AND INFORMATION REPORTING We must withhold federal income tax from distributions from annuity contracts. You may be able to elect out of this income tax withholding in some cases. Generally, we do not have to withhold if your distributions are not taxable. The rate of withholding will depend on the type of distribution and, in certain cases, the amount of your distribution. Any income tax withheld is a credit against your income tax liability. If you do not have sufficient income tax withheld or do not make sufficient estimated income tax payments, you may incur penalties under the estimated income tax rules. You must file your request not to withhold in writing before the payment or distribution is made. Our processing office will provide forms for this purpose. You cannot elect out of withholding unless you provide us with your correct Taxpayer Identification Number and a United States residence address. You cannot elect out of withholding if we are sending the payment out of the United States. You should note the following special situations: o We might have to withhold and/or report on amounts we pay under a free look or cancellation. o We are generally required to withhold on conversion rollovers of traditional IRAs in SEP, SARSEP or SIMPLE IRAs to Roth IRAs, as it is considered a withdrawal from the traditional IRA and is taxable. Special withholding rules apply to foreign recipients and United States citizens residing outside the United States. We do not discuss these rules here in detail. However, we may require additional documentation in the case of payments made to non-United States persons and United States persons living abroad prior to processing any requested transaction. Certain states have indicated that state income tax withholding will also apply to payments from the contracts made to residents. In some states, you may elect out of state withholding, even if federal withholding applies. Generally, an election out of federal withholding will also be considered an election out of state withholding. If you need more information concerning a particular state or any required forms, call our processing office at the toll-free number. FEDERAL INCOME TAX WITHHOLDING ON PERIODIC ANNUITY PAYMENTS We withhold differently on "periodic" and "non-periodic" payments. For a periodic annuity payment, for example, unless you specify a different number of withholding exemptions, we withhold assuming that you are married and claiming three withholding exemptions. If you do not give us your correct Taxpayer Identification Number, we withhold as if you are single with no exemptions. Based on the assumption that you are married and claiming three withholding exemptions, if you receive less than $18,720 in periodic annuity payments in 2008 your payments will generally be exempt from federal income tax withholding. You could specify a different choice of withholding exemption or request that tax be withheld. Your withholding election remains effective unless and until you revoke it. You may revoke or change your withholding election at any time. FEDERAL INCOME TAX WITHHOLDING ON NON-PERIODIC ANNUITY PAYMENTS (WITHDRAWALS) For a non-periodic distribution (total surrender or partial withdrawal), and any distribution from a qualified plan or TSA which is not an eligible rollover distribution we generally withhold at a flat 10% rate. You cannot elect out of withholding if the payment is an "eligible rollover distribution" from a qualified plan or TSA. If a non-periodic distribution from a qualified plan or TSA is not an "eligible rollover distribution" then the 10% withholding rate applies. Tax information 71 MANDATORY WITHHOLDING FROM TSA, GOVERNMENTAL EMPLOYER EDC AND QUALIFIED PLAN DISTRIBUTIONS Unless the distribution is directly rolled over to another eligible retirement plan, eligible rollover distributions from qualified plans, governmental employer 457(b) EDC plans, and TSAs are subject to mandatory 20% withholding. The plan administrator is responsible for withholding from qualified plan and governmental employer EDC plan distributions. An eligible rollover distribution from one of these eligible retirement plans can be rolled over to another one of these eligible retirement plans or a traditional IRA. All distributions from a TSA, governmental employer EDC plan or qualified plan are eligible rollover distributions unless they are on the following list of exceptions: o any distributions which are "required minimum distributions" after age 70-1/2 or retirement from service with the employer; or o substantially equal periodic payments made at least annually for the life (or life expectancy) or the joint lives (or joint life expectancies) of the plan participant (and designated beneficiary); or o substantially equal periodic payments made for a specified period of 10 years or more; or o hardship withdrawals; or o corrective distributions which fit specified technical tax rules; or o loans that are treated as distributions; or o a death benefit payment to a beneficiary who is not the plan participant's surviving spouse; or o a qualified domestic relations order distribution to a beneficiary who is not the plan participant's current spouse or former spouse. A death benefit payment to the plan participant's surviving spouse, or a qualified domestic relations order distribution to the plan participant's current or former spouse, may be a distribution subject to mandatory 20% withholding. IMPACT OF TAXES TO AXA EQUITABLE The contracts provide that we may charge Separate Account A for taxes. We do not now, but may in the future set up reserves for such taxes. 72 Tax information 8. More information - -------------------------------------------------------------------------------- ABOUT OUR SEPARATE ACCOUNT A Each variable investment option is a subaccount of our Separate Account A. We established Separate Account A in 1968 under special provisions of the New York Insurance Law. These provisions prevent creditors from any other business we conduct from reaching the assets we hold in our variable investment options for owners of our variable annuity contracts. We are the legal owner of all of the assets in Separate Account A and may withdraw any amounts that exceed our reserves and other liabilities with respect to variable investment options under our contracts. For example, we may withdraw amounts from Separate Account A that represent our investments in Separate Account A or that represent fees and charges under the contracts that we have earned. The results of Separate Account A's operations are accounted for without regard to AXA Equitable's other operations. The amount of some of our obligations under the contracts is based on the assets in Separate Account A. However, the obligations themselves are obligations of AXA Equitable. Separate Account A is registered under the Investment Company Act of 1940 and is registered and classified under that act as a "unit investment trust." The SEC, however, does not manage or supervise AXA Equitable or Separate Account A. Although Separate Account A is registered, the SEC does not monitor the activity of Separate Account A on a daily basis. AXA Equitable is not required to register, and is not registered, as an investment company under the Investment Company Act of 1940. Each subaccount (variable investment option) within Separate Account A invests solely in Class IA/A or Class IB/B shares issued by the corresponding portfolio of its Trust. We reserve the right subject to compliance with laws that apply: (1) to add variable investment options to, or to remove variable investment options from, Separate Account A, or to add other separate accounts; (2) to combine any two or more variable investment options; (3) to transfer the assets we determine to be the shares of the class of contracts to which the contracts belong from any variable investment option to another variable investment option; (4) to operate Separate Account A or any variable investment option as a management investment company under the Investment Company Act of 1940 (in which case, charges and expenses that otherwise would be assessed against an underlying mutual fund would be assessed against Separate Account A or a variable investment option directly); (5) to deregister Separate Account A under the Investment Company Act of 1940; (6) to restrict or eliminate any voting rights as to Separate Account A; (7) to cause one or more variable investment options to invest some or all of their assets in one or more other trusts or investment companies; and (8) to unilaterally change your contract in order to comply with any applicable laws and regulations, including but not limited to changes in the Internal Revenue Code, in Treasury Regulations or in published rulings of the Internal Revenue Service, ERISA and in Department of Labor regulations. Any change in the contract must be in writing and made by our authorized officer. We will provide notice of any contract change. ABOUT THE TRUSTS The Trusts are registered under the Investment Company Act of 1940. They are classified as "open-end management investment companies," more commonly called mutual funds. Each Trust issues different shares relating to each portfolio. The Trusts do not impose sales charges or "loads" for buying and selling their shares. All dividends and other distributions on the Trusts' shares are reinvested in full. The Board of Trustees or Board of Directors, as applicable, of each Trust may establish additional portfolios or eliminate existing portfolios at any time. More detailed information about each Trust, its portfolio investment objectives, policies, restrictions, risks, expenses, its Rule 12b-1 plan relating to its Class IB/B shares, and other aspects of its operations, appears in the prospectuses for each Trust, which generally accompany this prospectus, or in their respective SAIs, which are available upon request. ABOUT OUR FIXED MATURITY OPTIONS RATES TO MATURITY AND PRICE PER $100 OF MATURITY VALUE We can determine the amount required to be allocated to one or more fixed maturity options in order to produce specified maturity values. For example, we can tell you how much you need to allocate per $100 of maturity value. The rates to maturity are determined weekly. The rates in the table are illustrative only and will most likely differ from the rates applicable at time of purchase. Current rates to maturity can be obtained through TOPS or EQAccess or from your financial professional. The rates to maturity for new allocations as of February 15, 2008 and the related price per $100 of maturity value were as shown below:
- ------------------------------------------------------------------------- Fixed Maturity Options With June 15th Maturity Date of Rate to Maturity as of Price Per $100 of Maturity Year February 15, 2008 Maturity Value - ------------------------------------------------------------------------- 2008 3.00%** $ 99.02 2009 3.00%** $ 96.14 2010 3.00%** $ 93.34 2011 3.00%** $ 90.62 2012 3.00%** $ 87.98 2013 3.20% $ 84.53 2014 3.65% $ 79.69 2015* 4.05% $ 74.74 2016* 4.25% $ 70.68 - -------------------------------------------------------------------------
More information 73
- ------------------------------------------------------------------------- Fixed Maturity Options With June 15th Maturity Date of Rate to Maturity as of Price Per $100 of Maturity Year February 15, 2008 Maturity Value - ------------------------------------------------------------------------- 2017* 4.45% $ 66.60 - -------------------------------------------------------------------------
* Not available in Oregon ** Since these rates to maturity are 3%, no amounts could have been allocated to these options. HOW WE DETERMINE THE MARKET VALUE ADJUSTMENT We use the following procedure to calculate the market value adjustment (up or down) we make if you withdraw all of your value from a fixed maturity option before its maturity date. (1) We determine the market adjusted amount on the date of the withdrawal as follows: (a) We determine the fixed maturity amount that would be payable on the maturity date, using the rate to maturity for the fixed maturity option. (b) We determine the period remaining in your fixed maturity option (based on the withdrawal date) and convert it to fractional years based on a 365-day year. For example, three years and 12 days becomes 3.0329. (c) We determine the current rate to maturity that applies on the withdrawal date to new allocations to the same fixed maturity option. (d) We determine the present value of the fixed maturity amount payable at the maturity date, using the period determined in (b) and the rate determined in (c). (2) We determine the fixed maturity amount as of the current date. (3) We subtract (2) from the result in (1)(d). The result is the market value adjustment applicable to such fixed maturity option, which may be positive or negative. - -------------------------------------------------------------------------------- Your market adjusted amount is the present value of the maturity value discounted at the rate to maturity in effect for new contributions to that same fixed maturity option on the date of the calculation. - -------------------------------------------------------------------------------- If you withdraw only a portion of the amount in a fixed maturity option, the market value adjustment will be a percentage of the market value adjustment that would have applied if you had withdrawn the entire value in that fixed maturity option. This percentage is equal to the percentage of the value in the fixed maturity option that you are withdrawing. Any withdrawal charges that are deducted from a fixed maturity option will result in a market value adjustment calculated in the same way. See Appendix III later in this prospectus for an example. For purposes of calculating the rate to maturity for new allocations to a fixed maturity option (see (1)(c) above), we use the rate we have in effect for new allocations to that fixed maturity option. We use this rate even if new allocations to that option would not be accepted at that time. This rate will not be less than 3%. If we do not have a rate to maturity in effect for a fixed maturity option to which the "current rate to maturity" in (1)(c) above would apply, we will use the rate at the next closest maturity date. If we are no longer offering new fixed maturity options, the "current rate to maturity" will be determined in accordance with our procedures then in effect. We reserve the right to add up to 0.50% to the current rate in (1)(c) above for purposes of calculating the market value adjustment only. INVESTMENTS UNDER THE FIXED MATURITY OPTIONS Amounts allocated to the fixed maturity options are held in a "nonunitized" separate account we have established under the New York Insurance Law. This separate account provides an additional measure of assurance that we will make full payment of amounts due under the fixed maturity options. Under New York Insurance Law, the portion of the separate account's assets equal to the reserves and other contract liabilities relating to the contracts are not chargeable with liabilities from any other business we may conduct. We own the assets of the separate account, as well as any favorable investment performance on those assets. You do not participate in the performance of the assets held in this separate account. We may, subject to state law that applies, transfer all assets allocated to the separate account to our general account. We guarantee all benefits relating to your value in the fixed maturity options, regardless of whether assets supporting fixed maturity options are held in a separate account or our general account. We have no specific formula for establishing the rates to maturity for the fixed maturity options. We expect the rates to be influenced by, but not necessarily correspond to, among other things, the yields that we can expect to realize on the separate account's investments from time to time. Our current plans are to invest in fixed-income obligations, including corporate bonds, mortgage-backed and asset-backed securities and government and agency issues having durations in the aggregate consistent with those of the fixed maturity options. Although the above generally describes our plans for investing the assets supporting our obligations under the fixed maturity options under the contracts, we are not obligated to invest those assets according to any particular plan except as we may be required to by state insurance laws. We will not determine the rates to maturity we establish by the performance of the nonunitized separate account. ABOUT THE GENERAL ACCOUNT Our general account supports all of our policy and contract guarantees, including those that apply to the guaranteed interest option and the fixed maturity options as well as our general obligations. The general account is subject to regulation and supervision by the Insurance Department of the State of New York and to the insurance laws and regulations of all jurisdictions where we are authorized to do business. Interests under the contracts in the general account have not been registered and are not required to be registered under the Securities Act of 1933 because of exemptions and exclusionary provisions that apply. The general account is not required to register as an investment company under the Investment Company Act of 1940 and it is not registered as an investment company under the Investment Company Act of 1940. The market value adjustment interests under the contracts, which are held in a separate account, are issued by AXA Equitable and are registered under the Securities Act of 1933. The contract is a "covered security" under the federal securities laws. 74 More information We have been advised that the staff of the SEC has not reviewed the portions of this prospectus that relate to the general account. The disclosure with regard to general accounts, however, may be subject to certain provisions of the federal securities laws relating to the accuracy and completeness of statements made in prospectuses. ABOUT OTHER METHODS OF PAYMENT AUTOMATIC INVESTMENT PROGRAM -- FOR CERTAIN SEP AND KEOGH PLAN CONTRACTS ONLY You may use our automatic investment program, or "AIP," to have a specified amount automatically deducted from a bank checking or savings account, money market checking or savings account, or credit union checking or savings account and contributed as an additional contribution into your contracts on a monthly basis. AIP is available for single life SEP and Keogh units provided that the single life is the employer who provided the funds. AIP additional contributions may be allocated to any of the variable investment options and the guaranteed interest option but not the fixed maturity options. Our minimum contribution amount requirement is $20. You choose the day of the month you wish to have your account debited. However, you may not choose a date later than the 28th day of the month. You may cancel AIP at any time by notifying our processing office. We are not responsible for any debits made to your account before the time written notice of cancellation is received at our processing office. WIRE TRANSFERS. Employers may also send contributions by wire transfer from a bank. DATES AND PRICES AT WHICH CONTRACT EVENTS OCCUR We describe below the general rules for when, and at what prices, events under your contract will occur. Other portions of this prospectus describe circumstances that may cause exceptions. We generally do not repeat those exceptions below. BUSINESS DAY Our "business day" is generally any day the New York Stock Exchange is open for regular trading and generally ends at 4:00 p.m. Eastern Time (or as of an earlier close of regular trading). A business day does not include a day on which we are not open due to emergency conditions determined by the Securities and Exchange Commission. We may also close early due to such emergency conditions. Contributions will be applied and any other transaction requests will be processed when they are received along with all the required information unless another date applies as indicated below. o If your contribution, transfer or any other transaction request containing all the required information reaches us on any of the following, we will use the next business day: - on a non-business day: - after 4:00 p.m. Eastern Time on a business day; or - after an early close of regular trading on the NYSE on a business day. o When a charge is to be deducted on a contract date anniversary that is a non-business day, we will deduct the charge on the next business day. CONTRIBUTIONS, TRANSFERS, WITHDRAWALS AND SURRENDERS o Contributions allocated to the variable investment options are invested at the unit value next determined after the receipt of the contribution.. o Contributions allocated to a fixed maturity option will receive the rate to maturity in effect for that fixed maturity option on that business day. o Contributions allocated to the guaranteed interest option will receive the guaranteed interest rate in effect on that business day. o If a fixed maturity option is scheduled to mature on June 15th and June 15th is a non-business day, that fixed maturity option will mature on the prior business day. o Transfers to or from variable investment options will be made at the unit value next determined after the receipt of the transfer request.. o Transfers to the guaranteed interest option will receive the guaranteed interest rate in effect on that business day. o Transfers to a fixed maturity option will receive the rate to maturity in effect for that fixed maturity option on that business day. o Transfers out of a fixed maturity option will be at the market adjusted amount on that business day. o For the fixed-dollar option, the first monthly transfer will occur on the last business day of the month in which we receive your election form at our processing office. o For the interest sweep, the first monthly transfer will occur on the last business day of the month following the month that we receive your election form at our processing office. o Quarterly rebalancing will be processed on a calendar year basis. Semiannual or annual rebalancing will be processed on the first business day of the month. Rebalancing will not be done retroactively. o Requests for withdrawals or surrenders will occur on the business day that we receive the information that we require. ABOUT YOUR VOTING RIGHTS As the owner of the shares of the Trusts we have the right to vote on certain matters involving the portfolios, such as: o the election of trustees; o the formal approval of independent auditors selected for each Trust; or o any other matters described in each prospectus for the Trusts or requiring a shareholders' vote under the Investment Company Act of 1940. We will give contract owners the opportunity to instruct us how to vote the number of shares attributable to their contracts if a shareholder vote is taken. If we do not receive instructions in time from all More information 75 contract owners, we will vote the shares of a portfolio for which no instructions have been received in the same proportion as we vote shares of that portfolio for which we have received instructions. We will also vote any shares that we are entitled to vote directly because of amounts we have in a portfolio in the same proportions that contract owners vote. The Trusts sell their shares to AXA Equitable separate accounts in connection with AXA Equitable's variable annuity and/or life insurance products, and to separate accounts of insurance companies, both affiliated and unaffiliated with AXA Equitable. AXA Premier VIP Trust and EQ Advisors Trust also sell their shares to the trustee of a qualified plan for AXA Equitable. We currently do not foresee any disadvantages to our contract owners arising out of these arrangements. However, the Board of Trustees or Directors of each Trust intend to monitor events to identify any material irreconcilable conflicts that may arise and to determine what action, if any, should be taken in response. If we believe that a Board's response insufficiently protects our contract owners, we will see to it that appropriate action is taken to do so. SEPARATE ACCOUNT A VOTING RIGHTS If actions relating to Separate Account A require contract owner approval, contract owners will be entitled to one vote for each unit they have in the variable investment options. Each contract owner who has elected a variable annuity payout option may cast the number of votes equal to the dollar amount of reserves we are holding for that annuity in a variable investment option divided by the annuity unit value for that option. We will cast votes attributable to any amounts we have in the variable investment options in the same proportion as votes cast by contract owners. CHANGES IN APPLICABLE LAW The voting rights we describe in this prospectus are created under applicable federal securities laws. To the extent that those laws or the regulations published under those laws eliminate the necessity to submit matters for approval by persons having voting rights in separate accounts of insurance companies, we reserve the right to proceed in accordance with those laws or regulations. ABOUT LEGAL PROCEEDINGS AXA Equitable and its affiliates are parties to various legal proceedings. In our view, none of these proceedings would be considered material with respect to a contract owner's interest in Separate Account A, nor would any of these proceedings be likely to have a material adverse effect upon Separate Account A, our ability to meet our obligations under the contracts, or the distribution of the contracts. FINANCIAL STATEMENTS The financial statements of Separate Account A, as well as the consolidated financial statements of AXA Equitable, are in the SAI. The SAI is available free of charge. You may request one by writing our processing office or calling (800) 628-6673. TRANSFERS OF OWNERSHIP, COLLATERAL ASSIGNMENTS, LOANS, AND BORROWING Generally, the owner may not assign a contract for any purpose. However, a trustee owner of a Trusteed contract can transfer ownership to the annuitant. We will not be bound by this assignment for transfer of ownership unless it is in writing and we have received it at our processing office. In some cases, an assignment or change of ownership may have adverse tax consequences. See "Tax information" earlier in this prospectus. You cannot assign a contract as security for a loan or other obligation. Loans from account value, however, are permitted under TSA (but not University TSA), governmental employer EDC (subject to state availability) and Corporate Trusteed contracts only, unless restricted by the employer. FUNDING CHANGES The employer or trustee can change the funding vehicle for an EDC or Trusteed contract. You can change the funding vehicle for a TSA, SEP or SIMPLE IRA contract. DISTRIBUTION OF THE CONTRACTS The contracts are distributed by both AXA Advisors, LLC ("AXA Advisors") and AXA Distributors, LLC ("AXA Distributors") (together, the "Distributors"). The Distributors serve as principal underwriters of Separate Account A. The offering of the contracts is intended to be continuous. AXA Advisors is an affiliate of AXA Equitable, and AXA Distributors is an indirect wholly owned subsidiary of AXA Equitable. The Distributors are under the common control of AXA Financial, Inc. Their principal business address is 1290 Avenue of the Americas, New York, NY 10104. The Distributors are registered with the SEC as broker-dealers and are members of the Financial Industry Regulatory Authority, Inc. ("FINRA"). Both broker-dealers also act as distributors for other AXA Equitable life and annuity products. The contracts are sold by financial professionals of AXA Advisors and its affiliates. The contracts are also sold by financial professionals of both affiliated and unaffiliated broker-dealers that have entered into selling agreements with the Distributors ("Selling broker-dealers"). AXA Equitable pays compensation to both Distributors based on contracts sold. Compensation paid to AXA Advisors is based on contributions made on the contracts sold through AXA Advisors ("contribution-based compensation") and will generally not exceed 16.0% of total contributions. AXA Advisors, in turn, may pay a portion of the contribution-based compensation received from AXA Equitable on the sale of a contract to the AXA Advisors financial professional and/or Selling broker-dealer making the sale. In some instances, a financial professional or Selling broker-dealer may elect to receive reduced contribution-based compensation on a contract in combination with ongoing annual compensation of up to 0.70% of the account value of the contract sold ("asset-based compensation"). Total compensation paid to a financial professional or a Selling broker-dealer electing to receive both contribution-based and asset-based compensation could over time exceed the total compensation that would otherwise be paid on the basis of contributions alone. The contribution-based and asset-based compensation paid by AXA Advisors varies among financial professionals and among Selling broker-dealers. 76 More information Contribution-based compensation paid by AXA Equitable to AXA Distributors on sales of AXA Equitable contracts by its Selling broker-dealers will generally not exceed 12.0% of the total contributions made under the contracts. AXA Distributors, in turn, pays the contribution-based compensation it receives on the sale of a contract to the Selling broker-dealer making the sale. In some instances, the Selling broker-dealer may elect to receive reduced contribution-based compensation on the sale of a contract in combination with annual asset-based compensation of up to 0.35% of contract account value. If a Selling broker-dealer elects to receive reduced contribution-based compensation on a contract, the contribution-based compensation which AXA Equitable pays to AXA Distributors will be reduced by the same amount and AXA Equitable will pay AXA Distributors asset-based compensation on the contract equal to the asset-based compensation which AXA Distributors pays to the Selling broker- dealer. Total compensation paid to a Selling broker-dealer electing to receive both contribution-based and asset-based compensation could over time exceed the total compensation that would otherwise be paid on the basis of contributions alone. The contribution-based and asset-based compensation paid by AXA Distributors varies among Selling broker-dealers. AXA Distributors also receives compensation and reimbursement for its marketing services under the terms of its distribution agreement with AXA Equitable. The Distributors may pay certain affiliated and/or unaffiliated Selling broker-dealers and other financial intermediaries additional compensation in recognition of certain expenses that may be incurred by them or on their behalf. The Distributors may also pay certain broker-dealers or other financial intermediaries additional compensation for enhanced marketing opportunities and other services (commonly referred to as "marketing allowances"). Services for which such payments are made may include, but are not limited to, the preferred placement of AXA Equitable and/or EQUI-VEST(SM) Employer-Sponsored Retirement Programs on a company and/or product list; sales personnel training; product training; business reporting; technological support; due diligence and related costs; advertising, marketing and related services; conferences; and/or other support services, including some that may benefit the contract owner. Payments may be based on the amount of assets or purchase payments attributable to contracts sold through a Selling broker-dealer or such payments may be a fixed amount. The Distributors may also make fixed payments to Selling broker-dealers in connection with the initiation of a new relationship or the introduction of a new product. These payments may serve as an incentive for Selling broker-dealers to promote the sale of particular products. Additionally, as an incentive for financial professionals of Selling broker-dealers to promote the sale of AXA Equitable products, the Distributors may increase the sales compensation paid to the Selling broker-dealer for a period of time (commonly referred to as "compensation enhancements"). Marketing allowances and sales incentives are made out of the Distributors' assets. Not all Selling broker-dealers receive these kinds of payments. For more information about any such arrangements, ask your financial professional. The Distributors receive 12b-1 fees from certain portfolios for providing certain distribution and/or shareholder support services. The Distributors or their affiliates may also receive payments from the advisers of the portfolios or their affiliates to help defray expenses for sales meetings or seminar sponsorships that may relate to the contracts and/or the advisers' respective portfolios. In an effort to promote the sale of our products, AXA Advisors may provide its financial professionals and managerial personnel with a higher percentage of sales commissions and/or cash compensation for the sale of an affiliated variable product than it would the sale of an unaffiliated product. Such practice is known as providing "differential compensation." In addition, managerial personnel may receive expense reimbursements, marketing allowances and commission-based payments known as "overrides." Certain components of the compensation of financial professionals who are managers are based on the sale of affiliated variable products. Managers earn higher compensation (and credits toward awards and bonuses) if those they manage sell more affiliated variable products. AXA Advisors may provide other forms of compensation to its financial professionals, including health and retirement benefits. For tax reasons, AXA Advisors financial professionals qualify for health and retirement benefits based solely on their sales of our affiliated products. These payments and differential compensation (together, the "payments") can vary in amount based on the applicable product and/or entity or individual involved. As with any incentive, such payments may cause the financial professional to show preference in recommending the purchase or sale of AXA Equitable products. However, under applicable rules of FINRA, AXA Advisors may only recommend to you products that they reasonably believe are suitable for you based on facts that you have disclosed as to your other security holdings, financial situation and needs. In making any recommendation, financial professionals of AXA Advisors may nonetheless face conflicts of interest because of the differences in compensation from one product category to another, and because of differences in compensation between products in the same category. In addition, AXA Advisors may offer sales incentive programs to financial professionals who meet specified production levels for the sale of both affiliated and unaffiliated products which provide non-cash compensation such as stock options awards and/or stock appreciation rights, expense-paid trips, expense-paid educational seminars and merchandise. Although AXA Equitable takes all of its costs into account in establishing the level of fees and expenses in its products, any contribution-based and asset-based compensation paid by AXA Equitable to the Distributors will not result in any separate charge to you under your contract. All payments made will be in compliance with all applicable FINRA rules and other laws and regulations. More information 77 9. Incorporation of certain documents by reference - -------------------------------------------------------------------------------- AXA Equitable's Annual Report on Form 10-K for the period ended December 31, 2007 (the "Annual Report") is considered to be part of this Prospectus because it is incorporated by reference. AXA Equitable intends to send owners account statements and other such legally-required reports. AXA Equitable does not anticipate such reports will include periodic financial statements or information concerning AXA Equitable. AXA Equitable files reports and other information with the SEC, as required by law. You may read and copy this information at the SEC's public reference facilities at Room 1580, 100 F Street, NE, Washington, DC 20549, or by accessing the SEC's website at www.sec.gov. The public may obtain information on the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0330. Under the Securities Act of 1933, AXA Equitable has filed with the SEC a registration statement relating to the Market Value Adjustment (the "Registration Statement"). This prospectus has been filed as part of the Registration Statement and does not contain all of the information set forth in the Registration Statement. Please see the Registration Statement for additional information concerning the Market Value Adjustment. The Annual Report includes the audited consolidated financial statements of AXA Equitable at December 31, 2007 and 2006 and for each of the three years in the period ended December 31, 2007 (the "AXA Equitable Financial Statements"). The AXA Equitable Financial Statements are included in the Annual Report and incorporated by reference into this prospectus in reliance on the report of PricewaterhouseCoopers LLP, an independent registered public accounting firm. The AXA Equitable Financial Statements are also included in the Annual Report and incorporated by reference into this prospectus in reliance on the reports of KPMG LLP, an independent registered public accounting firm, on (i) the Consolidated Statements of Income, Changes in Partners' Capital and Comprehensive Income, and Cash Flows of AllianceBernstein L.P. and (ii) the Statements of Income, Changes in Partners' Capital and Comprehensive Income, and Cash Flows of AllianceBernstein Holding L.P. (together "AllianceBernstein", formerly "Alliance") for the year ended December 31, 2005. The reports are given on the authority of said firms as experts in auditing and accounting. KPMG LLP was AllianceBernstein's independent registered public accounting firm for the year ended December 31, 2005. On March 8, 2006, KPMG LLP was terminated, and PricewaterhouseCoopers LLP was appointed as AllianceBernstein's independent registered public accounting firm, as disclosed on AXA Equitable's Report on Form 8-K filed on March 13, 2006. AllianceBernstein Corporation, an indirect wholly owned subsidiary of AXA Equitable, is the general partner of both AllianceBernstein L.P. and AllianceBernstein Holding L.P. Any statement contained in a document that is or becomes part of this prospectus, will be considered changed or replaced for purposes of this prospectus if a statement contained in this prospectus changes or is replaced. Any statement that is considered to be a part of this prospectus because of its incorporation, will be considered changed or replaced for the purpose of this prospectus if a statement contained in any other subsequently filed document that is considered to be part of this prospectus changes or replaces that statement. After that, only the statement that is changed or replaced will be considered to be part of this prospectus. We file our Exchange Act documents and reports, including our annual report on Form 10-K and quarterly reports on Form 10-Q, electronically according to EDGAR under CIK No. 0000727920. The SEC maintains a website that contains reports, proxy and information statements and other information regarding registrants that file electronically with the SEC. The address of the site is www.sec.gov. Upon written or oral request, we will provide, free of charge, to each person to whom this prospectus is delivered a copy of any or all of the documents considered to be part of this prospectus because they are incorporated herein. This does not include exhibits not specifically incorporated by reference into the text of such documents. Requests for documents should be directed to AXA Equitable Life Insurance Company, 1290 Avenue of the Americas, New York, New York 10104. Attention: Corporate Secretary (telephone: (212) 554-1234). 78 Incorporation of certain documents by reference Appendix I: Original contracts - -------------------------------------------------------------------------------- Original Contracts are EQUI-VEST(SM) contracts under which the contract owner has not elected to add any additional variable investment options when they first became available. SELECTING YOUR INVESTMENT METHOD. If you own an original contract, only the guaranteed interest option and the EQ/Money Market, AXA Moderate Allocation, EQ/Alliance Common Stock and Multimanager Aggressive Equity options are available. In most cases, you may request that we add additional variable investment options to your original contract. We reserve the right to deny your request. TRANSFERRING YOUR ACCOUNT VALUE. If you own an original contract, including original contract owners who elect to amend their contract by selecting maximum transfer flexibility, the EQ/Money Market option is always available. However, we will not permit transfers into the EQ/Money Market option from any other investment option. There will not be any other transfer limitations under your original contract. Appendix I: Original contracts I-1 Appendix II: Condensed financial information - -------------------------------------------------------------------------------- The following tables show the accumulation unit values and the number of outstanding units for each variable investment option under each contract series at the last business day of the periods shown. The unit values and number of units outstanding are for contracts offered under Separate Account A with the same daily asset charge. The information presented is shown for the past ten years, or from the first year the particular contracts were offered, if less than ten years ago. SERIES 100 AND 200 CONTRACTS UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007 (DAILY ASSET CHARGE OF 1.34% OR 1.40%, DEPENDING UPON INVESTMENT OPTION).
- ----------------------------------------------------------------------------------------------------------------------- For the years ending December 31 ----------------------------------------------------------- 1998 1999 2000 2001 2002 - ----------------------------------------------------------------------------------------------------------------------- AXA Aggressive Allocation - ----------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - ----------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - ----------------------------------------------------------------------------------------------------------------------- AXA Conservative Allocation - ----------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - ----------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - ----------------------------------------------------------------------------------------------------------------------- AXA Conservative-Plus Allocation - ----------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - ----------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - ----------------------------------------------------------------------------------------------------------------------- AXA Moderate Allocation - ----------------------------------------------------------------------------------------------------------------------- Unit value $ 45.07 $ 52.39 $ 51.10 $ 49.61 $ 42.91 - ----------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 24,361 22,434 20,413 19,822 23,382 - ----------------------------------------------------------------------------------------------------------------------- AXA Moderate-Plus Allocation - ----------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - ----------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - ----------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock - ----------------------------------------------------------------------------------------------------------------------- Unit value $323.75 $ 399.74 $ 339.28 $ 299.82 $ 197.84 - ----------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 17,231 16,705 15,685 14,197 11,899 - ----------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Intermediate Government Securities - ----------------------------------------------------------------------------------------------------------------------- Unit value $126.48 $ 124.96 $ 134.60 $ 143.62 $ 154.25 - ----------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 314 360 309 587 915 - ----------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein International - ----------------------------------------------------------------------------------------------------------------------- Unit value $117.72 $ 160.04 $ 121.54 $ 92.48 $ 82.20 - ----------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 971 926 1,028 945 5,013 - ----------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Large Cap Growth - ----------------------------------------------------------------------------------------------------------------------- Unit value -- $ 116.36 $ 93.70 $ 70.28 $ 47.74 - ----------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 887 2,596 2,788 2,376 - ----------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Quality Bond - ----------------------------------------------------------------------------------------------------------------------- Unit value $130.07 $ 125.76 $ 138.33 $ 147.79 $ 157.39 - ----------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 557 622 566 899 950 - ----------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Small Cap Growth - ----------------------------------------------------------------------------------------------------------------------- Unit value $118.57 $ 149.64 $ 168.29 $ 144.40 $ 99.61 - ----------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 1,101 976 1,895 1,988 1,955 - ----------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Value - ----------------------------------------------------------------------------------------------------------------------- Unit Value -- -- -- $ 94.39 $ 80.42 - ----------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- 1,544 1,981 - ----------------------------------------------------------------------------------------------------------------------- EQ/Ariel Appreciation II - ----------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - ----------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - ----------------------------------------------------------------------------------------------------------------------- - --------------------------------------------------------------------------------------------------------------------------- For the years ending December 31 --------------------------------------------------------------- 2003 2004 2005 2006 2007 - --------------------------------------------------------------------------------------------------------------------------- AXA Aggressive Allocation - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 109.15 $ 120.39 $ 128.35 $ 149.30 $ 156.38 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 8 50 122 364 741 - --------------------------------------------------------------------------------------------------------------------------- AXA Conservative Allocation - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 102.15 $ 106.86 $ 108.01 $ 113.35 $ 118.31 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 6 36 59 91 231 - --------------------------------------------------------------------------------------------------------------------------- AXA Conservative-Plus Allocation - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 104.14 $ 110.71 $ 112.78 $ 121.01 $ 125.94 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 5 44 112 222 406 - --------------------------------------------------------------------------------------------------------------------------- AXA Moderate Allocation - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 50.77 $ 55.12 $ 57.47 $ 63.00 $ 66.55 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 21,629 20,412 19,656 18,359 17,845 - --------------------------------------------------------------------------------------------------------------------------- AXA Moderate-Plus Allocation - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 107.96 $ 118.97 $ 125.20 $ 141.45 $ 148.46 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 18 185 491 1,337 2,455 - --------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 292.96 $ 330.99 $ 341.80 $ 374.77 $ 384.25 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 11,092 10,291 9,393 8,175 6,992 - --------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Intermediate Government Securities - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 155.83 $ 157.11 $ 157.33 $ 160.48 $ 169.61 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 788 674 613 532 504 - --------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein International - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 109.83 $ 128.38 $ 146.39 $ 178.84 $ 197.62 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 4,603 4,372 4,333 4,232 4,096 - --------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Large Cap Growth - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 58.02 $ 62.04 $ 70.34 $ 69.04 $ 77.63 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 2,212 1,966 1,822 1,671 1,480 - --------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Quality Bond - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 161.18 $ 165.40 $ 166.86 $ 171.37 $ 177.18 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 827 737 726 670 670 - --------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Small Cap Growth - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 138.85 $ 156.54 $ 172.65 $ 186.13 $ 214.81 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 1,959 1,885 1,791 1,655 1,500 - --------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Value - --------------------------------------------------------------------------------------------------------------------------- Unit Value $ 102.15 $ 114.33 $ 118.93 $ 142.44 $ 134.27 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 2,115 2,287 2,451 2,714 9,158 - --------------------------------------------------------------------------------------------------------------------------- EQ/Ariel Appreciation II - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 103.63 $ 113.65 $ 110.80 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 4 12 14 - ---------------------------------------------------------------------------------------------------------------------------
II-1 Appendix II: Condensed financial information SERIES 100 AND 200 CONTRACTS UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007 (DAILY ASSET CHARGE OF 1.34% OR 1.40%, DEPENDING UPON INVESTMENT OPTION). (CONTINUED)
- -------------------------------------------------------------------------------------------------------------------------- For the years ending December 31 -------------------------------------------------------------- 1998 1999 2000 2001 2002 - -------------------------------------------------------------------------------------------------------------------------- EQ/AXA Rosenberg Value Long/Short Equity - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- EQ/BlackRock Basic Value Equity - -------------------------------------------------------------------------------------------------------------------------- Unit value $ 127.97 $ 149.82 $ 165.28 $ 172.07 $ 141.48 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 444 617 634 1,044 1,282 - -------------------------------------------------------------------------------------------------------------------------- EQ/BlackRock International Value - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 75.52 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 928 - -------------------------------------------------------------------------------------------------------------------------- EQ/Boston Advisors Equity Income - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- EQ/Calvert Socially Responsible - -------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 107.58 $ 103.06 $ 86.73 $ 62.93 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 4 15 33 57 - -------------------------------------------------------------------------------------------------------------------------- EQ/Capital Guardian Growth - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 53.85 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 19 - -------------------------------------------------------------------------------------------------------------------------- EQ/Capital Guardian Research - -------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 106.78 $ 111.59 $ 107.86 $ 80.17 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 8 44 95 1,211 - -------------------------------------------------------------------------------------------------------------------------- EQ/Caywood-Scholl High Yield Bond - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- EQ/Davis New York Venture - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- EQ/Equity 500 Index - -------------------------------------------------------------------------------------------------------------------------- Unit value $ 271.24 $ 322.15 $ 287.40 $ 249.66 $ 191.65 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 3,805 4,579 4,346 4,083 3,648 - -------------------------------------------------------------------------------------------------------------------------- EQ/Evergreen International Bond - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- EQ/Evergreen Omega - -------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 106.57 $ 92.84 $ 76.01 $ 56.98 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 5 18 33 55 - -------------------------------------------------------------------------------------------------------------------------- EQ/FI Mid Cap - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 99.98 $ 85.41 $ 68.70 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 86 420 738 - -------------------------------------------------------------------------------------------------------------------------- EQ/Franklin Income - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- EQ/Franklin Small Cap Value - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- EQ/Franklin Templeton Founding Strategy - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- - --------------------------------------------------------------------------------------------------------------------------- For the years ending December 31 --------------------------------------------------------------- 2003 2004 2005 2006 2007 - --------------------------------------------------------------------------------------------------------------------------- EQ/AXA Rosenberg Value Long/Short Equity - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 99.46 $ 101.69 $ 107.86 $ 107.96 $ 110.01 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 3 12 54 57 50 - --------------------------------------------------------------------------------------------------------------------------- EQ/BlackRock Basic Value Equity - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 183.13 $ 199.77 $ 202.92 $ 242.07 $ 241.63 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 1,316 1,355 1,330 1,272 1,248 - --------------------------------------------------------------------------------------------------------------------------- EQ/BlackRock International Value - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 95.40 $ 114.50 $ 125.21 $ 155.26 $ 168.78 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 946 1,010 1,260 1,505 1,600 - --------------------------------------------------------------------------------------------------------------------------- EQ/Boston Advisors Equity Income - --------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 106.97 $ 112.04 $ 128.19 $ 131.14 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 33 232 292 333 - --------------------------------------------------------------------------------------------------------------------------- EQ/Calvert Socially Responsible - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 79.44 $ 81.19 $ 87.10 $ 90.43 $ 100.04 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 89 118 143 167 196 - --------------------------------------------------------------------------------------------------------------------------- EQ/Capital Guardian Growth - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 65.86 $ 68.57 $ 71.11 $ 75.35 $ 78.41 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 39 47 67 101 163 - --------------------------------------------------------------------------------------------------------------------------- EQ/Capital Guardian Research - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 104.00 $ 113.80 $ 119.08 $ 131.65 $ 132.02 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 1,179 1,112 1,015 923 1,410 - --------------------------------------------------------------------------------------------------------------------------- EQ/Caywood-Scholl High Yield Bond - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 103.98 $ 110.75 $ 112.33 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 29 87 152 - --------------------------------------------------------------------------------------------------------------------------- EQ/Davis New York Venture - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 96.94 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 37 - --------------------------------------------------------------------------------------------------------------------------- EQ/Equity 500 Index - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 242.29 $ 264.16 $ 272.79 $ 310.53 $ 322.33 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 3,539 3,393 3,219 2,920 2,757 - --------------------------------------------------------------------------------------------------------------------------- EQ/Evergreen International Bond - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 97.50 $ 99.48 $ 107.28 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 4 46 131 - --------------------------------------------------------------------------------------------------------------------------- EQ/Evergreen Omega - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 77.69 $ 82.05 $ 84.15 $ 87.90 $ 96.54 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 125 206 204 185 218 - --------------------------------------------------------------------------------------------------------------------------- EQ/FI Mid Cap - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 97.34 $ 111.43 $ 116.94 $ 128.68 $ 137.14 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 1,109 1,384 1,577 1,735 1,869 - --------------------------------------------------------------------------------------------------------------------------- EQ/Franklin Income - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- $ 104.29 $ 105.01 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- 90 570 - --------------------------------------------------------------------------------------------------------------------------- EQ/Franklin Small Cap Value - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- $ 108.22 $ 97.55 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- 8 50 - --------------------------------------------------------------------------------------------------------------------------- EQ/Franklin Templeton Founding Strategy - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 95.16 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 176 - ---------------------------------------------------------------------------------------------------------------------------
Appendix II: Condensed financial information II-2 SERIES 100 AND 200 CONTRACTS UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007 (DAILY ASSET CHARGE OF 1.34% OR 1.40%, DEPENDING UPON INVESTMENT OPTION). (CONTINUED)
- -------------------------------------------------------------------------------------------------------------------------- For the years ending December 31 -------------------------------------------------------------- 1998 1999 2000 2001 2002 - -------------------------------------------------------------------------------------------------------------------------- EQ/GAMCO Mergers and Acquisitions - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- EQ/GAMCO Small Company Value - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- EQ/International Core PLUS - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 67.65 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 61 - -------------------------------------------------------------------------------------------------------------------------- EQ/International Growth - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- EQ/JPMorgan Core Bond - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 107.03 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 207 - -------------------------------------------------------------------------------------------------------------------------- EQ/JPMorgan Value Opportunities - -------------------------------------------------------------------------------------------------------------------------- Unit value $ 128.20 $ 124.26 $ 131.45 $ 120.85 $ 96.50 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 581 648 521 532 484 - -------------------------------------------------------------------------------------------------------------------------- EQ/Large Cap Core PLUS - -------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 104.48 $ 102.37 $ 84.85 $ 66.13 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 18 68 87 118 - -------------------------------------------------------------------------------------------------------------------------- EQ/Large Cap Growth PLUS - -------------------------------------------------------------------------------------------------------------------------- Unit value $ 161.04 $ 275.93 $ 220.97 $ 143.76 $ 93.15 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 1,090 2,427 3,720 3,422 2,890 - -------------------------------------------------------------------------------------------------------------------------- EQ/Legg Mason Value Equity - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- EQ/Long Term Bond - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- EQ/Lord Abbett Growth and Income - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- EQ/Lord Abbett Large Cap Core - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- EQ/Lord Abbett Mid Cap Value - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- EQ/Marsico Focus - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- $ 105.89 $ 92.40 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 337 - -------------------------------------------------------------------------------------------------------------------------- EQ/Mid Cap Value PLUS - -------------------------------------------------------------------------------------------------------------------------- Unit value $ 104.82 $ 105.28 $ 109.21 $ 112.05 $ 94.29 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 859 721 628 1,238 1,835 - -------------------------------------------------------------------------------------------------------------------------- EQ/Money Market - -------------------------------------------------------------------------------------------------------------------------- Unit value $ 30.55 $ 31.63 $ 33.15 $ 33.96 $ 34.00 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 1,261 1,516 1,458 1,796 1,816 - -------------------------------------------------------------------------------------------------------------------------- - --------------------------------------------------------------------------------------------------------------------------- For the years ending December 31 --------------------------------------------------------------- 2003 2004 2005 2006 2007 - --------------------------------------------------------------------------------------------------------------------------- EQ/GAMCO Mergers and Acquisitions - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 105.04 $ 116.29 $ 118.65 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 15 39 65 - --------------------------------------------------------------------------------------------------------------------------- EQ/GAMCO Small Company Value - --------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 113.23 $ 116.54 $ 136.64 $ 147.33 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 37 251 362 647 - --------------------------------------------------------------------------------------------------------------------------- EQ/International Core PLUS - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 88.51 $ 99.21 $ 114.65 $ 134.89 $ 153.33 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 175 316 437 534 576 - --------------------------------------------------------------------------------------------------------------------------- EQ/International Growth - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 115.00 $ 142.55 $ 163.42 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 13 67 165 - --------------------------------------------------------------------------------------------------------------------------- EQ/JPMorgan Core Bond - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 109.16 $ 112.11 $ 113.06 $ 116.08 $ 118.07 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 316 405 574 643 748 - --------------------------------------------------------------------------------------------------------------------------- EQ/JPMorgan Value Opportunities - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 120.74 $ 132.08 $ 135.43 $ 160.85 $ 156.76 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 448 414 382 362 351 - --------------------------------------------------------------------------------------------------------------------------- EQ/Large Cap Core PLUS - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 79.62 $ 87.51 $ 92.55 $ 103.13 $ 105.70 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 161 140 132 116 107 - --------------------------------------------------------------------------------------------------------------------------- EQ/Large Cap Growth PLUS - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 118.84 $ 132.05 $ 142.04 $ 151.04 $ 172.29 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 2,681 2,410 2,130 1,844 1,655 - --------------------------------------------------------------------------------------------------------------------------- EQ/Legg Mason Value Equity - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 106.40 $ 112.16 $ 104.09 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 13 108 128 - --------------------------------------------------------------------------------------------------------------------------- EQ/Long Term Bond - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 99.99 $ 100.45 $ 106.43 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 71 113 147 - --------------------------------------------------------------------------------------------------------------------------- EQ/Lord Abbett Growth and Income - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 105.99 $ 122.57 $ 125.12 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 11 75 105 - --------------------------------------------------------------------------------------------------------------------------- EQ/Lord Abbett Large Cap Core - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 105.62 $ 117.43 $ 128.22 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 13 25 38 - --------------------------------------------------------------------------------------------------------------------------- EQ/Lord Abbett Mid Cap Value - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 111.49 $ 123.66 $ 122.70 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 67 94 162 - --------------------------------------------------------------------------------------------------------------------------- EQ/Marsico Focus - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 119.55 $ 130.34 $ 142.37 $ 153.56 $ 172.77 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 779 948 1,217 1,548 1,770 - --------------------------------------------------------------------------------------------------------------------------- EQ/Mid Cap Value PLUS - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 123.98 $ 144.14 $ 158.32 $ 175.70 $ 170.56 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 1,967 2,096 2,279 2,273 2,189 - --------------------------------------------------------------------------------------------------------------------------- EQ/Money Market - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 33.81 $ 33.69 $ 34.19 $ 35.33 $ 36.61 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 1,322 1,193 1,383 2,018 2,683 - ---------------------------------------------------------------------------------------------------------------------------
II-3 Appendix II: Condensed financial information SERIES 100 AND 200 CONTRACTS UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007 (DAILY ASSET CHARGE OF 1.34% OR 1.40%, DEPENDING UPON INVESTMENT OPTION). (CONTINUED)
- ------------------------------------------------------------------------------------------------------------------------ For the years ending December 31 ------------------------------------------------------------ 1998 1999 2000 2001 2002 - ------------------------------------------------------------------------------------------------------------------------ EQ/Montag & Caldwell Growth - ------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------ EQ/Mutual Shares - ------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Global - ------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Opportunity - ------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Small Cap - ------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------ EQ/PIMCO Real Return - ------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------ EQ/Short Duration Bond - ------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------ EQ/Small Company Index - ------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 81.53 - ------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 72 - ------------------------------------------------------------------------------------------------------------------------ EQ/T. Rowe Price Growth Stock - ------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------ EQ/Templeton Growth - ------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------ EQ/UBS Growth and Income - ------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Comstock - ------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Emerging Markets Equity - ------------------------------------------------------------------------------------------------------------------------ Unit value $ 57.18 $ 110.43 $ 65.32 $ 61.12 $ 56.74 - ------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 217 590 926 850 895 - ------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Mid Cap Growth - ------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Real Estate - ------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------ Multimanager Aggressive Equity - ------------------------------------------------------------------------------------------------------------------------ Unit value $ 89.92 $ 105.59 $ 90.70 $ 67.13 $ 47.48 - ------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 25,634 20,946 18,138 16,058 13,832 - ------------------------------------------------------------------------------------------------------------------------ - --------------------------------------------------------------------------------------------------------------------------- For the years ending December 31 --------------------------------------------------------------- 2003 2004 2005 2006 2007 - --------------------------------------------------------------------------------------------------------------------------- EQ/Montag & Caldwell Growth - --------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 104.66 $ 108.84 $ 115.92 $ 138.16 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 1 17 23 87 - --------------------------------------------------------------------------------------------------------------------------- EQ/Mutual Shares - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- $ 107.10 $ 107.40 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- 32 228 - --------------------------------------------------------------------------------------------------------------------------- EQ/Oppenheimer Global - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- $ 110.94 $ 115.70 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- 14 82 - --------------------------------------------------------------------------------------------------------------------------- EQ/Oppenheimer Main Street Opportunity - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 95.19 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 11 - --------------------------------------------------------------------------------------------------------------------------- EQ/Oppenheimer Main Street Small Cap - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- $ 110.99 $ 107.56 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- 9 51 - --------------------------------------------------------------------------------------------------------------------------- EQ/PIMCO Real Return - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 99.35 $ 98.40 $ 108.22 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 82 167 270 - --------------------------------------------------------------------------------------------------------------------------- EQ/Short Duration Bond - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 99.80 $ 102.36 $ 106.35 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 13 47 70 - --------------------------------------------------------------------------------------------------------------------------- EQ/Small Company Index - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 117.33 $ 136.22 $ 140.12 $ 162.73 $ 157.60 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 260 446 537 672 766 - --------------------------------------------------------------------------------------------------------------------------- EQ/T. Rowe Price Growth Stock - --------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 111.22 $ 114.11 $ 108.07 $ 114.32 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 6 36 43 530 - --------------------------------------------------------------------------------------------------------------------------- EQ/Templeton Growth - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- $ 107.58 $ 108.35 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- 30 188 - --------------------------------------------------------------------------------------------------------------------------- EQ/UBS Growth and Income - --------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 109.24 $ 117.48 $ 132.31 $ 132.06 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 1 41 94 127 - --------------------------------------------------------------------------------------------------------------------------- EQ/Van Kampen Comstock - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 104.29 $ 119.26 $ 114.71 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 47 110 144 - --------------------------------------------------------------------------------------------------------------------------- EQ/Van Kampen Emerging Markets Equity - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 87.28 $ 106.51 $ 139.53 $ 188.68 $ 264.35 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 949 1,084 1,420 1,693 1,843 - --------------------------------------------------------------------------------------------------------------------------- EQ/Van Kampen Mid Cap Growth - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 123.74 $ 133.39 $ 161.09 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 32 93 226 - --------------------------------------------------------------------------------------------------------------------------- EQ/Van Kampen Real Estate - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 82.87 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 1,184 - --------------------------------------------------------------------------------------------------------------------------- Multimanager Aggressive Equity - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 64.75 $ 72.04 $ 77.39 $ 80.76 $ 89.29 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 12,726 11,587 10,645 9,157 7,790 - ---------------------------------------------------------------------------------------------------------------------------
Appendix II: Condensed financial information II-4 SERIES 100 AND 200 CONTRACTS UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007 (DAILY ASSET CHARGE OF 1.34% OR 1.40%, DEPENDING UPON INVESTMENT OPTION). (CONTINUED)
- -------------------------------------------------------------------------------------------------------------------------- For the years ending December 31 -------------------------------------------------------------- 1998 1999 2000 2001 2002 - -------------------------------------------------------------------------------------------------------------------------- Multimanager Core Bond - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 106.73 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 264 - -------------------------------------------------------------------------------------------------------------------------- Multimanager Health Care - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 78.98 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 101 - -------------------------------------------------------------------------------------------------------------------------- Multimanager High Yield - -------------------------------------------------------------------------------------------------------------------------- Unit value $ 150.42 $ 143.43 $ 129.28 $ 128.74 $ 123.58 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 1,164 998 800 770 696 - -------------------------------------------------------------------------------------------------------------------------- Multimanager International Equity - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 78.07 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 82 - -------------------------------------------------------------------------------------------------------------------------- Multimanager Large Cap Core Equity - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 76.43 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 91 - -------------------------------------------------------------------------------------------------------------------------- Multimanager Large Cap Growth - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 67.87 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 138 - -------------------------------------------------------------------------------------------------------------------------- Multimanager Large Cap Value - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 79.08 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 127 - -------------------------------------------------------------------------------------------------------------------------- Multimanager Mid Cap Growth - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 62.00 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 211 - -------------------------------------------------------------------------------------------------------------------------- Multimanager Mid Cap Value - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 73.70 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 214 - -------------------------------------------------------------------------------------------------------------------------- Multimanager Small Cap Growth - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Multimanager Small Cap Value - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 112.38 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 239 - -------------------------------------------------------------------------------------------------------------------------- Multimanager Technology - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 56.63 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 53 - -------------------------------------------------------------------------------------------------------------------------- Target 2015 Allocation - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Target 2025 Allocation - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Target 2035 Allocation - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Target 2045 Allocation - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- - --------------------------------------------------------------------------------------------------------------------------- For the years ending December 31 --------------------------------------------------------------- 2003 2004 2005 2006 2007 - --------------------------------------------------------------------------------------------------------------------------- Multimanager Core Bond - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 109.24 $ 111.97 $ 112.40 $ 115.08 $ 120.64 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 311 348 375 370 371 - --------------------------------------------------------------------------------------------------------------------------- Multimanager Health Care - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 99.85 $ 110.46 $ 116.57 $ 120.91 $ 129.98 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 182 238 274 291 297 - --------------------------------------------------------------------------------------------------------------------------- Multimanager High Yield - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 149.82 $ 161.02 $ 164.14 $ 178.48 $ 182.06 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 769 761 768 737 723 - --------------------------------------------------------------------------------------------------------------------------- Multimanager International Equity - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 103.47 $ 120.36 $ 137.09 $ 169.50 $ 188.01 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 150 268 321 430 461 - --------------------------------------------------------------------------------------------------------------------------- Multimanager Large Cap Core Equity - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 96.62 $ 104.55 $ 110.09 $ 123.37 $ 127.80 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 122 129 128 120 130 - --------------------------------------------------------------------------------------------------------------------------- Multimanager Large Cap Growth - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 87.47 $ 92.04 $ 97.62 $ 96.42 $ 105.82 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 219 256 267 257 266 - --------------------------------------------------------------------------------------------------------------------------- Multimanager Large Cap Value - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 102.28 $ 115.47 $ 122.01 $ 143.64 $ 146.86 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 163 203 263 308 335 - --------------------------------------------------------------------------------------------------------------------------- Multimanager Mid Cap Growth - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 85.78 $ 94.55 $ 101.11 $ 109.36 $ 120.73 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 417 530 556 547 536 - --------------------------------------------------------------------------------------------------------------------------- Multimanager Mid Cap Value - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 102.24 $ 116.19 $ 123.06 $ 139.29 $ 137.54 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 334 425 390 391 368 - --------------------------------------------------------------------------------------------------------------------------- Multimanager Small Cap Growth - --------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 114.58 $ 121.52 $ 132.13 $ 135.15 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 3 80 216 308 - --------------------------------------------------------------------------------------------------------------------------- Multimanager Small Cap Value - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 152.31 $ 175.98 $ 181.76 $ 208.22 $ 185.20 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 434 617 739 794 725 - --------------------------------------------------------------------------------------------------------------------------- Multimanager Technology - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 88.08 $ 91.24 $ 100.16 $ 106.03 $ 123.67 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 211 989 901 838 823 - --------------------------------------------------------------------------------------------------------------------------- Target 2015 Allocation - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- $ 108.32 $ 114.60 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- 11 60 - --------------------------------------------------------------------------------------------------------------------------- Target 2025 Allocation - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- $ 109.27 $ 115.74 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- 7 61 - --------------------------------------------------------------------------------------------------------------------------- Target 2035 Allocation - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- $ 110.16 $ 116.71 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- 4 29 - --------------------------------------------------------------------------------------------------------------------------- Target 2045 Allocation - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- $ 110.95 $ 118.00 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- 3 23 - ---------------------------------------------------------------------------------------------------------------------------
II-5 Appendix II: Condensed financial information SERIES 300 AND 400 CONTRACTS UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007 (DAILY ASSET CHARGE OF 1.34% OR 1.40%, DEPENDING UPON INVESTMENT OPTION).
- -------------------------------------------------------------------------------------------------------------------------- For the years ending December 31 -------------------------------------------------------------- 1998 1999 2000 2001 2002 - -------------------------------------------------------------------------------------------------------------------------- AXA Aggressive Allocation - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- AXA Conservative Allocation - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- AXA Conservative-Plus Allocation - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- AXA Moderate Allocation - -------------------------------------------------------------------------------------------------------------------------- Unit value $ 157.63 $ 183.18 $ 178.32 $ 172.66 $ 149.01 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 752 854 846 1,334 2,689 - -------------------------------------------------------------------------------------------------------------------------- AXA Moderate-Plus Allocation - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock - -------------------------------------------------------------------------------------------------------------------------- Unit value $ 252.88 $ 312.31 $ 264.88 $ 233.80 $ 154.15 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 5,808 6,502 6,233 5,579 4,418 - -------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Intermediate Government Securities - -------------------------------------------------------------------------------------------------------------------------- Unit value $ 126.48 $ 124.96 $ 134.60 $ 143.62 $ 154.25 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 314 360 309 587 915 - -------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein International - -------------------------------------------------------------------------------------------------------------------------- Unit value $ 117.72 $ 160.04 $ 121.54 $ 92.48 $ 82.20 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 971 926 1,028 945 5,013 - -------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Large Cap Growth - -------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 116.36 $ 93.70 $ 70.28 $ 47.74 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 887 2,596 2,788 2,376 - -------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Quality Bond - -------------------------------------------------------------------------------------------------------------------------- Unit value $ 130.07 $ 125.76 $ 138.33 $ 147.79 $ 157.39 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 557 622 566 899 950 - -------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Small Cap Growth - -------------------------------------------------------------------------------------------------------------------------- Unit value $ 118.57 $ 149.64 $ 168.29 $ 144.40 $ 99.61 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 1,101 976 1,895 1,988 1,955 - -------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Value - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- $ 94.39 $ 80.42 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- 1,544 1,981 - -------------------------------------------------------------------------------------------------------------------------- EQ/Ariel Appreciation II - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- EQ/AXA Rosenberg Value Long/Short Equity - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- EQ/BlackRock Basic Value Equity - -------------------------------------------------------------------------------------------------------------------------- Unit value $ 127.67 $ 149.82 $ 165.28 $ 172.07 $ 141.48 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 444 617 634 1,044 1,282 - -------------------------------------------------------------------------------------------------------------------------- EQ/BlackRock International Value - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 75.52 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 928 - -------------------------------------------------------------------------------------------------------------------------- EQ/Boston Advisors Equity Income - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- EQ/Calvert Socially Responsible - -------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 107.58 $ 103.06 $ 86.73 $ 62.93 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 4 15 33 57 - -------------------------------------------------------------------------------------------------------------------------- EQ/Capital Guardian Growth - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 53.85 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 19 - -------------------------------------------------------------------------------------------------------------------------- - --------------------------------------------------------------------------------------------------------------------------- For the years ending December 31 --------------------------------------------------------------- 2003 2004 2005 2006 2007 - --------------------------------------------------------------------------------------------------------------------------- AXA Aggressive Allocation - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 109.15 $ 120.39 $ 128.35 $ 149.30 $ 156.38 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 8 50 122 364 741 - --------------------------------------------------------------------------------------------------------------------------- AXA Conservative Allocation - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 102.15 $ 106.86 $ 108.01 $ 113.35 $ 118.31 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 6 36 59 91 231 - --------------------------------------------------------------------------------------------------------------------------- AXA Conservative-Plus Allocation - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 104.14 $ 110.71 $ 112.78 $ 121.01 $ 125.94 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 5 44 112 222 406 - --------------------------------------------------------------------------------------------------------------------------- AXA Moderate Allocation - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 175.55 $ 188.77 $ 195.64 $ 213.45 $ 224.33 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 2,378 2,153 1,902 1,696 1,605 - --------------------------------------------------------------------------------------------------------------------------- AXA Moderate-Plus Allocation - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 107.96 $ 118.97 $ 125.20 $ 141.45 $ 148.46 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 18 185 491 1,337 2,455 - --------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 227.99 $ 257.31 $ 265.43 $ 290.56 $ 297.34 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 4,024 3,627 3,126 2,645 2,259 - --------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Intermediate Government Securities - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 155.83 $ 157.11 $ 157.33 $ 160.48 $ 169.61 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 818 674 613 532 504 - --------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein International - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 109.83 $ 128.38 $ 146.39 $ 178.84 $ 197.62 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 4,796 4,372 4,333 4,232 4,096 - --------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Large Cap Growth - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 58.02 $ 62.04 $ 70.34 $ 69.04 $ 77.63 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 2,254 1,966 1,822 1,671 1,480 - --------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Quality Bond - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 161.18 $ 165.40 $ 166.86 $ 171.37 $ 177.18 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 851 737 726 670 670 - --------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Small Cap Growth - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 138.85 $ 156.54 $ 172.65 $ 186.13 $ 214.81 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 2,016 1,885 1,791 1,655 1,500 - --------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Value - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 102.15 $ 114.33 $ 118.93 $ 142.44 $ 134.27 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 2,153 2,287 2,451 2,714 9,158 - --------------------------------------------------------------------------------------------------------------------------- EQ/Ariel Appreciation II - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 103.63 $ 113.65 $ 110.80 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 4 12 14 - --------------------------------------------------------------------------------------------------------------------------- EQ/AXA Rosenberg Value Long/Short Equity - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 99.46 $ 101.69 $ 107.86 $ 107.96 $ 110.01 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 3 12 54 57 50 - --------------------------------------------------------------------------------------------------------------------------- EQ/BlackRock Basic Value Equity - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 183.13 $ 199.77 $ 202.92 $ 242.07 $ 241.63 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 1,337 1,355 1,330 1,272 1,248 - --------------------------------------------------------------------------------------------------------------------------- EQ/BlackRock International Value - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 95.40 $ 114.50 $ 125.21 $ 155.26 $ 168.78 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 970 1,010 1,260 1,505 1,600 - --------------------------------------------------------------------------------------------------------------------------- EQ/Boston Advisors Equity Income - --------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 106.97 $ 112.04 $ 128.19 $ 131.14 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 33 232 292 333 - --------------------------------------------------------------------------------------------------------------------------- EQ/Calvert Socially Responsible - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 79.44 $ 81.19 $ 87.10 $ 90.43 $ 100.04 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 89 118 143 167 196 - --------------------------------------------------------------------------------------------------------------------------- EQ/Capital Guardian Growth - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 65.86 $ 68.57 $ 71.11 $ 75.35 $ 78.41 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 41 47 67 101 163 - ---------------------------------------------------------------------------------------------------------------------------
Appendix II: Condensed financial information II-6 SERIES 300 AND 400 CONTRACTS (CONTINUED) UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007 (DAILY ASSET CHARGE OF 1.34% OR 1.40%, DEPENDING UPON INVESTMENT OPTION).
- -------------------------------------------------------------------------------------------------------------------------- For the years ending December 31 -------------------------------------------------------------- 1998 1999 2000 2001 2002 - -------------------------------------------------------------------------------------------------------------------------- EQ/Capital Guardian Research - -------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 106.78 $ 111.59 $ 107.86 $ 80.17 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 8 44 95 1,211 - -------------------------------------------------------------------------------------------------------------------------- EQ/Caywood-Scholl High Yield Bond - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- EQ/Davis New York Venture - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- EQ/Equity 500 Index - -------------------------------------------------------------------------------------------------------------------------- Unit value $ 271.24 $ 322.15 $ 287.40 $ 249.66 $ 191.65 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 3,805 4,579 4,346 4,083 3,648 - -------------------------------------------------------------------------------------------------------------------------- EQ/Evergreen International Bond - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- EQ/Evergreen Omega - -------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 106.57 $ 92.84 $ 76.01 $ 56.98 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 5 18 33 55 - -------------------------------------------------------------------------------------------------------------------------- EQ/FI Mid Cap - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 99.98 $ 85.41 $ 68.70 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 86 420 738 - -------------------------------------------------------------------------------------------------------------------------- EQ/Franklin Income - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- EQ/Franklin Small Cap Value - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- EQ/Franklin Templeton Founding Strategy - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- EQ/GAMCO Mergers and Acquisitions - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- EQ/GAMCO Small Company Value - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- EQ/International Core PLUS - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 67.65 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 61 - -------------------------------------------------------------------------------------------------------------------------- EQ/International Growth - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- EQ/JPMorgan Core Bond - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 107.03 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 207 - -------------------------------------------------------------------------------------------------------------------------- EQ/JPMorgan Value Opportunities - -------------------------------------------------------------------------------------------------------------------------- Unit value $ 128.20 $ 124.76 $ 131.45 $ 120.85 $ 96.50 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 581 648 521 532 484 - -------------------------------------------------------------------------------------------------------------------------- EQ/Large Cap Core PLUS - -------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 104.48 $ 102.37 $ 84.85 $ 66.13 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 18 68 87 118 - -------------------------------------------------------------------------------------------------------------------------- EQ/Large Cap Growth PLUS - -------------------------------------------------------------------------------------------------------------------------- Unit value $ 161.04 $ 275.93 $ 220.97 $ 143.76 $ 93.15 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 1,090 2,427 3,720 3,422 2,890 - -------------------------------------------------------------------------------------------------------------------------- EQ/Legg Mason Value Equity - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- - --------------------------------------------------------------------------------------------------------------------------- For the years ending December 31 --------------------------------------------------------------- 2003 2004 2005 2006 2007 - --------------------------------------------------------------------------------------------------------------------------- EQ/Capital Guardian Research - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 104.00 $ 113.80 $ 119.08 $ 131.65 $ 132.02 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 1,200 1,112 1,015 923 1,410 - --------------------------------------------------------------------------------------------------------------------------- EQ/Caywood-Scholl High Yield Bond - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 103.98 $ 110.75 $ 112.33 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 29 87 152 - --------------------------------------------------------------------------------------------------------------------------- EQ/Davis New York Venture - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 96.94 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 37 - --------------------------------------------------------------------------------------------------------------------------- EQ/Equity 500 Index - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 242.29 $ 264.16 $ 272.79 $ 310.53 $ 322.33 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 3,658 3,393 3,219 2,920 2,757 - --------------------------------------------------------------------------------------------------------------------------- EQ/Evergreen International Bond - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 97.50 $ 99.48 $ 107.28 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 4 46 131 - --------------------------------------------------------------------------------------------------------------------------- EQ/Evergreen Omega - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 77.69 $ 82.05 $ 84.15 $ 87.90 $ 96.54 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 127 206 204 185 218 - --------------------------------------------------------------------------------------------------------------------------- EQ/FI Mid Cap - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 97.34 $ 111.43 $ 116.94 $ 128.68 $ 137.14 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 1,117 1,384 1,577 1,735 1,869 - --------------------------------------------------------------------------------------------------------------------------- EQ/Franklin Income - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- $ 104.29 $ 105.01 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- 90 570 - --------------------------------------------------------------------------------------------------------------------------- EQ/Franklin Small Cap Value - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- $ 108.22 $ 97.55 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- 8 50 - --------------------------------------------------------------------------------------------------------------------------- EQ/Franklin Templeton Founding Strategy - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 95.16 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 176 - --------------------------------------------------------------------------------------------------------------------------- EQ/GAMCO Mergers and Acquisitions - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 105.04 $ 116.29 $ 118.65 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 15 39 65 - --------------------------------------------------------------------------------------------------------------------------- EQ/GAMCO Small Company Value - --------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 113.23 $ 116.54 $ 136.64 $ 147.33 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 37 251 362 647 - --------------------------------------------------------------------------------------------------------------------------- EQ/International Core PLUS - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 88.51 $ 99.21 $ 114.65 $ 134.89 $ 153.33 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 177 316 437 534 576 - --------------------------------------------------------------------------------------------------------------------------- EQ/International Growth - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 115.00 $ 142.55 $ 163.42 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 13 67 165 - --------------------------------------------------------------------------------------------------------------------------- EQ/JPMorgan Core Bond - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 109.16 $ 112.11 $ 113.06 $ 116.08 $ 118.07 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 318 405 574 643 748 - --------------------------------------------------------------------------------------------------------------------------- EQ/JPMorgan Value Opportunities - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 120.74 $ 132.08 $ 135.43 $ 160.85 $ 156.76 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 454 414 382 362 351 - --------------------------------------------------------------------------------------------------------------------------- EQ/Large Cap Core PLUS - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 79.62 $ 87.51 $ 92.55 $ 103.13 $ 105.70 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 162 140 132 116 107 - --------------------------------------------------------------------------------------------------------------------------- EQ/Large Cap Growth PLUS - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 118.84 $ 132.05 $ 142.04 $ 151.04 $ 172.29 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 2,741 2,410 2,130 1,844 1,655 - --------------------------------------------------------------------------------------------------------------------------- EQ/Legg Mason Value Equity - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 106.40 $ 112.16 $ 104.09 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 13 108 128 - ---------------------------------------------------------------------------------------------------------------------------
II-7 Appendix II: Condensed financial information SERIES 300 AND 400 CONTRACTS (CONTINUED) UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007 (DAILY ASSET CHARGE OF 1.34% OR 1.40%, DEPENDING UPON INVESTMENT OPTION).
- -------------------------------------------------------------------------------------------------------------------------- For the years ending December 31 -------------------------------------------------------------- 1998 1999 2000 2001 2002 - -------------------------------------------------------------------------------------------------------------------------- EQ/Long Term Bond - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- EQ/Lord Abbett Growth and Income - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- EQ/Lord Abbett Large Cap Core - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- EQ/Lord Abbett Mid Cap Value - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- EQ/Marsico Focus - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- $ 105.89 $ 92.41 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 337 - -------------------------------------------------------------------------------------------------------------------------- EQ/Mid Cap Value PLUS - -------------------------------------------------------------------------------------------------------------------------- Unit value $ 104.82 $ 105.28 $ 109.21 $ 112.05 $ 94.29 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 859 721 628 1,238 1,835 - -------------------------------------------------------------------------------------------------------------------------- EQ/Money Market - -------------------------------------------------------------------------------------------------------------------------- Unit value $ 120.19 $ 124.47 $ 130.47 $ 133.66 $ 133.83 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 262 360 297 395 342 - -------------------------------------------------------------------------------------------------------------------------- EQ/Montag & Caldwell Growth - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- EQ/Mutual Shares - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- EQ/Oppenheimer Global - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- EQ/Oppenheimer Main Street Opportunity - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- EQ/Oppenheimer Main Street Small Cap - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- EQ/PIMCO Real Return - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- EQ/Short Duration Bond - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- EQ/Small Company Index - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 81.53 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 72 - -------------------------------------------------------------------------------------------------------------------------- EQ/T. Rowe Price Growth Stock - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- EQ/Templeton Growth - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- EQ/UBS Growth and Income - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- EQ/Van Kampen Comstock - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- - --------------------------------------------------------------------------------------------------------------------------- For the years ending December 31 --------------------------------------------------------------- 2003 2004 2005 2006 2007 - --------------------------------------------------------------------------------------------------------------------------- EQ/Long Term Bond - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 99.99 $ 100.45 $ 106.43 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 71 113 147 - --------------------------------------------------------------------------------------------------------------------------- EQ/Lord Abbett Growth and Income - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 105.99 $ 122.57 $ 125.12 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 11 75 105 - --------------------------------------------------------------------------------------------------------------------------- EQ/Lord Abbett Large Cap Core - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 105.62 $ 117.43 $ 128.22 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 13 25 38 - --------------------------------------------------------------------------------------------------------------------------- EQ/Lord Abbett Mid Cap Value - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 111.49 $ 123.66 $ 122.70 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 67 94 162 - --------------------------------------------------------------------------------------------------------------------------- EQ/Marsico Focus - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 119.55 $ 130.34 $ 142.37 $ 153.56 $ 172.77 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 790 948 1,217 1,548 1,770 - --------------------------------------------------------------------------------------------------------------------------- EQ/Mid Cap Value PLUS - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 123.98 $ 144.14 $ 158.32 $ 175.70 $ 170.56 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 2,002 2,096 2,279 2,273 2,189 - --------------------------------------------------------------------------------------------------------------------------- EQ/Money Market - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 133.10 $ 132.67 $ 135.29 $ 139.78 $ 144.74 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 231 186 63 56 54 - --------------------------------------------------------------------------------------------------------------------------- EQ/Montag & Caldwell Growth - --------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 104.66 $ 108.84 $ 115.92 $ 138.16 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 1 17 23 87 - --------------------------------------------------------------------------------------------------------------------------- EQ/Mutual Shares - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- $ 107.10 $ 107.40 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- 32 228 - --------------------------------------------------------------------------------------------------------------------------- EQ/Oppenheimer Global - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- $ 110.94 $ 115.70 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- 14 82 - --------------------------------------------------------------------------------------------------------------------------- EQ/Oppenheimer Main Street Opportunity - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 95.19 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 11 - --------------------------------------------------------------------------------------------------------------------------- EQ/Oppenheimer Main Street Small Cap - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- $ 110.99 $ 107.56 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- 9 51 - --------------------------------------------------------------------------------------------------------------------------- EQ/PIMCO Real Return - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 99.35 $ 98.40 $ 108.22 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 82 167 270 - --------------------------------------------------------------------------------------------------------------------------- EQ/Short Duration Bond - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 99.80 $ 102.36 $ 106.35 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 13 47 70 - --------------------------------------------------------------------------------------------------------------------------- EQ/Small Company Index - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 117.33 $ 136.22 $ 140.12 $ 162.73 $ 157.60 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 261 446 537 672 766 - --------------------------------------------------------------------------------------------------------------------------- EQ/T. Rowe Price Growth Stock - --------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 111.22 $ 114.11 $ 108.07 $ 114.32 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 6 36 43 530 - --------------------------------------------------------------------------------------------------------------------------- EQ/Templeton Growth - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- $ 107.58 $ 108.35 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- 30 188 - --------------------------------------------------------------------------------------------------------------------------- EQ/UBS Growth and Income - --------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 109.24 $ 117.48 $ 132.31 $ 132.06 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 1 41 92 127 - --------------------------------------------------------------------------------------------------------------------------- EQ/Van Kampen Comstock - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 104.29 $ 119.26 $ 114.71 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 47 110 144 - ---------------------------------------------------------------------------------------------------------------------------
Appendix II: Condensed financial information II-8 SERIES 300 AND 400 CONTRACTS (CONTINUED) UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007 (DAILY ASSET CHARGE OF 1.34% OR 1.40%, DEPENDING UPON INVESTMENT OPTION).
- -------------------------------------------------------------------------------------------------------------------------- For the years ending December 31 -------------------------------------------------------------- 1998 1999 2000 2001 2002 - -------------------------------------------------------------------------------------------------------------------------- EQ/Van Kampen Emerging Markets Equity - -------------------------------------------------------------------------------------------------------------------------- Unit value $ 57.18 $ 110.43 $ 65.32 $ 61.12 $ 56.74 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 217 590 926 850 895 - -------------------------------------------------------------------------------------------------------------------------- EQ/Van Kampen Mid Cap Growth - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- EQ/Van Kampen Real Estate - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Multimanager Aggressive Equity - -------------------------------------------------------------------------------------------------------------------------- Unit value $ 161.59 $ 189.44 $ 162.34 $ 120.13 $ 84.51 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 3,342 2,980 2,607 2,242 1,841 - -------------------------------------------------------------------------------------------------------------------------- Multimanager Core Bond - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 106.73 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 264 - -------------------------------------------------------------------------------------------------------------------------- Multimanager Health Care - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 78.98 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 101 - -------------------------------------------------------------------------------------------------------------------------- Multimanager High Yield - -------------------------------------------------------------------------------------------------------------------------- Unit value $ 150.42 $ 143.43 $ 129.28 $ 128.74 $ 123.58 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 1,164 998 800 770 696 - -------------------------------------------------------------------------------------------------------------------------- Multimanager International Equity - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 78.07 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 82 - -------------------------------------------------------------------------------------------------------------------------- Multimanager Large Cap Core Equity - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 76.43 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 91 - -------------------------------------------------------------------------------------------------------------------------- Multimanager Large Cap Growth - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 67.87 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 138 - -------------------------------------------------------------------------------------------------------------------------- Multimanager Large Cap Value - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 79.08 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 127 - -------------------------------------------------------------------------------------------------------------------------- Multimanager Mid Cap Growth - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 62.00 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 211 - -------------------------------------------------------------------------------------------------------------------------- Multimanager Mid Cap Value - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 73.70 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 214 - -------------------------------------------------------------------------------------------------------------------------- Multimanager Small Cap Growth - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Multimanager Small Cap Value - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 112.38 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 239 - -------------------------------------------------------------------------------------------------------------------------- Multimanager Technology - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 56.63 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 53 - -------------------------------------------------------------------------------------------------------------------------- Target 2015 Allocation - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Target 2025 Allocation - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Target 2035 Allocation - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- - --------------------------------------------------------------------------------------------------------------------------- For the years ending December 31 --------------------------------------------------------------- 2003 2004 2005 2006 2007 - --------------------------------------------------------------------------------------------------------------------------- EQ/Van Kampen Emerging Markets Equity - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 87.28 $ 106.51 $ 139.53 $ 188.68 $ 264.35 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 971 1,084 1,420 1,693 1,843 - --------------------------------------------------------------------------------------------------------------------------- EQ/Van Kampen Mid Cap Growth - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 123.74 $ 133.39 $ 161.09 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 32 93 226 - --------------------------------------------------------------------------------------------------------------------------- EQ/Van Kampen Real Estate - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 82.87 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 1,184 - --------------------------------------------------------------------------------------------------------------------------- Multimanager Aggressive Equity - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 114.95 $ 127.42 $ 136.36 $ 141.76 $ 156.14 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 1,636 1,467 1,285 1,113 954 - --------------------------------------------------------------------------------------------------------------------------- Multimanager Core Bond - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 109.24 $ 111.97 $ 112.40 $ 115.08 $ 120.64 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 316 348 375 370 371 - --------------------------------------------------------------------------------------------------------------------------- Multimanager Health Care - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 99.85 $ 110.46 $ 116.57 $ 120.91 $ 129.98 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 185 238 274 291 297 - --------------------------------------------------------------------------------------------------------------------------- Multimanager High Yield - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 149.82 $ 161.02 $ 164.14 $ 178.48 $ 182.06 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 798 761 768 737 723 - --------------------------------------------------------------------------------------------------------------------------- Multimanager International Equity - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 103.47 $ 120.36 $ 137.09 $ 169.50 $ 188.01 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 152 268 321 430 461 - --------------------------------------------------------------------------------------------------------------------------- Multimanager Large Cap Core Equity - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 96.62 $ 104.55 $ 110.09 $ 123.37 $ 127.80 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 123 129 128 120 130 - --------------------------------------------------------------------------------------------------------------------------- Multimanager Large Cap Growth - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 87.47 $ 92.04 $ 97.62 $ 96.42 $ 105.82 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 221 256 267 257 266 - --------------------------------------------------------------------------------------------------------------------------- Multimanager Large Cap Value - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 102.28 $ 115.47 $ 122.01 $ 143.64 $ 146.86 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 165 203 263 308 335 - --------------------------------------------------------------------------------------------------------------------------- Multimanager Mid Cap Growth - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 85.78 $ 94.55 $ 101.11 $ 109.36 $ 120.73 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 421 530 556 547 536 - --------------------------------------------------------------------------------------------------------------------------- Multimanager Mid Cap Value - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 102.24 $ 116.19 $ 123.06 $ 139.29 $ 137.54 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 337 425 390 391 368 - --------------------------------------------------------------------------------------------------------------------------- Multimanager Small Cap Growth - --------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 114.58 $ 121.52 $ 132.13 $ 135.15 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 3 80 216 308 - --------------------------------------------------------------------------------------------------------------------------- Multimanager Small Cap Value - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 152.31 $ 175.98 $ 181.76 $ 208.22 $ 185.20 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 445 617 739 794 725 - --------------------------------------------------------------------------------------------------------------------------- Multimanager Technology - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 88.08 $ 91.24 $ 100.16 $ 106.03 $ 123.67 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 212 989 901 838 823 - --------------------------------------------------------------------------------------------------------------------------- Target 2015 Allocation - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- $ 108.32 $ 114.60 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- 11 60 - --------------------------------------------------------------------------------------------------------------------------- Target 2025 Allocation - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- $ 109.27 $ 115.74 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- 7 61 - --------------------------------------------------------------------------------------------------------------------------- Target 2035 Allocation - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- $ 110.16 $ 116.71 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- 4 29 - ---------------------------------------------------------------------------------------------------------------------------
II-9 Appendix II: Condensed financial information SERIES 300 AND 400 CONTRACTS (CONTINUED) UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007 (DAILY ASSET CHARGE OF 1.34% OR 1.40%, DEPENDING UPON INVESTMENT OPTION).
- --------------------------------------------------------------------------------------------------------------------------- For the years ending December 31 ------------------------------------------------------------------------------------ 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 Target 2045 Allocation - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- -- -- -- $ 110.95 $ 118.00 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- -- -- 3 23 - ---------------------------------------------------------------------------------------------------------------------------
Appendix II: Condensed financial information II-10 Appendix III: Market value adjustment example - -------------------------------------------------------------------------------- The example below shows how the market value adjustment would be determined and how it would be applied to a withdrawal, assuming that $100,000 was allocated on June 15, 2008 to a fixed maturity option with a maturity date of June 15, 2016 (eight* years later) at a hypothetical rate to maturity of 7.00% (h), resulting in a maturity value of $171,882 on the maturity date. We further assume that a withdrawal of $50,000 is made four years later, on June 15, 2012.(a)
- ---------------------------------------------------------------------------------------------- Hypothetical assumed rate to maturity(j) on June 15, 2012 ----------------------- 5% 9% - ---------------------------------------------------------------------------------------------- As of June 15, 2012 before withdrawal - ---------------------------------------------------------------------------------------------- (1) market adjusted amount(b) $141,389 $121,737 - ---------------------------------------------------------------------------------------------- (2) fixed maturity amount(c) $131,104 $131,104 - ---------------------------------------------------------------------------------------------- (3) market value adjustment: (1) - (2) $ 10,285 $ (9,367) - ---------------------------------------------------------------------------------------------- On June 15, 2012 after $50,000 withdrawal - ---------------------------------------------------------------------------------------------- (4) portion of market value adjustment associated with the withdrawal: (3) x [$50,000/(1)] $ 3,637 $ (3,847) - ---------------------------------------------------------------------------------------------- (5) portion of fixed maturity associated with the withdrawal: $50,000 - (4) $ 46,363 $ 53,847 - ---------------------------------------------------------------------------------------------- (6) market adjusted amount (1) - $50,000 $ 91,389 $ 71,737 - ---------------------------------------------------------------------------------------------- (7) fixed maturity amount: (2) - (5) $ 84,741 $ 77,257 - ---------------------------------------------------------------------------------------------- (8) maturity value (d) $111,099 $101,287 - ----------------------------------------------------------------------------------------------
You should note that in this example, if a withdrawal is made when rates have increased from 7.00% to 9.00% (right column), a portion of a negative market value adjustment is realized. On the other hand, if a withdrawal is made when rates have decreased from 7.00% to 5.00% (left column), a portion of a positive market value adjustment is realized. *In Oregon, seven is the maximum maturity year. Notes: (a) Number of days from the withdrawal date to the maturity date = D = 1,461 (b) Market adjusted amount is based on the following calculation: Maturity value $171,882 ------------------ = --------------------- where j is either 5% or 9% (1+j)(D/365) (1+j)(1,461/365) (c) Fixed maturity amount is based on the following calculation: Maturity value $171,882 ------------------ = --------------------- (1+h)(D/365) (1+0.07)(1,461/365) (d) Maturity value is based on the following calculation: Fixed maturity amount x (1+h)(D/365) = ($84,741 or $77,257) x (1+0.07)(1,461/365)
III-1 Appendix III: Market value adjustment example Appendix IV: State contract availability and/or variations of certain features and benefits - -------------------------------------------------------------------------------- STATES WHERE CERTAIN EQUI-VEST(SM) EMPLOYER-SPONSORED RETIREMENT PROGRAMS FEATURES AND/OR BENEFITS ARE NOT AVAILABLE OR HAVE CERTAIN VARIATIONS TO FEATURES AND/OR BENEFITS:
- ------------------------------------------------------------------------------------------------------------------------ Contract type/Series/ State Features and benefits Effective Date Availability or variation - ------------------------------------------------------------------------------------------------------------------------ California See "Your right to cancel within a If you reside in the state certain number of days" in "Con- of California and you are tract features and benefits." age 60 or older at the time the contract is issued, you may return your variable annuity contract within 30 days from the date that you receive it and receive a refund as described below. If you allocate your entire initial contribution to the EQ/Money Market option (and/or guaranteed inter- est option), the amount of your refund will be equal to your contribution less interest, unless you make a transfer, in which case the amount of your refund will be equal to your account value on the date we receive your request to cancel at our processing office. This amount could be less than your initial contribution. If you allocate any portion of your initial contribution to the variable investment options (other than the EQ/Money Market option) and/or fixed maturity options, your refund will be equal to your account value on the date we receive your request to cancel at our processing office. - ------------------------------------------------------------------------------------------------------------------------ Connecticut See "Withdrawal charge" in "Fees The changes apply to contracts The withdrawal charge and charges" under "EQUI-VEST(SM) issued on or after the dates indi- percentage that applies at a glance -- key features;" and cated for the contract types depends on the contract in "Charges under the contract" indicated as follows: year in which the with- under "Charges and expenses" drawal is made, according EDC -- June 20, 2003 to the following table: TSA, and Annuitant owned HR-10 contract series 200 -- June 14, Contract Year(s) Charge 2004 1 through 5 6%* 6 5 7 4 8 3 9 2 10 1 11 and later 0 *This percentage may be reduced at older ages for certain contract series. Your financial professional can provide further details about the contract series you own. SIMPLE IRA contract series 400 The amount of the -- March 3, 2004 withdrawal charge we deduct SEP and SARSEP contract series is equal to 6% of 300 and Trusteed contracts series contributions withdrawn 200 -- June 14, 2004 that exceed the 10% free withdrawal amount, that were made in the current and four prior contract years and 5% of contributions withdrawn that were made in the con- tract year immediately preceding the four prior contract years. - ------------------------------------------------------------------------------------------------------------------------
Appendix IV: State contract availability and/or variations of certain features and benefits IV-1
- ------------------------------------------------------------------------------------------------------------------------------ Contract type/Series/ State Features and benefits Effective Date Availability or variation - ------------------------------------------------------------------------------------------------------------------------------ Illinois For SEP and SARSEP IRA Contract Series 300 and SIMPLE IRA Contract Series 400 issued on or after September 24, 2007: See "Withdrawal charge" in "Fees The change applies to SEP and The amount of the withdrawal and charges" under "EQUI-VEST(SM) SARSEP IRA contract series 300 charge we deduct is employer-sponsored retirement and to SIMPLE IRA contract series equal to 6% of contributions programs at a glance -- key fea- 400. withdrawn that exceed tures;" and "Withdrawal charge the 10% free withdrawal amount, for series 300 and 400 contracts" that were made in under "Charges and expenses" the current and four prior contract years and 5% of contributions withdrawn that were made in the con- tract year immediately preceding the four prior contract years. - ------------------------------------------------------------------------------------------------------------------------------ Massachusetts See "Disability, terminal illness or The change applies to SEP, The disability, terminal illness confinement to nursing home" in SARSEP IRA series 300, SIMPLE or confinement to a "Charges under the contracts" IRA series 400 contracts issued on nursing home withdrawal charge under "Charges and expenses" or after November 27, 2006. waiver is not available. - ------------------------------------------------------------------------------------------------------------------------------ New York See "Fixed maturity options" in Series 100 contracts Fixed maturity options are not "What are your investment available. options under the contract" under "Contract features and benefits" In the second to last paragraph in this section, the See "Selecting an annuity payout second line in the paragraph option" in "Your annuity payout "(1) the amount option" under "Accessing your applied to purchase the money" annuity;" is deleted in its entirety and replaced with the following: (1) The amount applied to provide the annuity will be: (a) the account value for any life annuity form or (b) the cash value for any period certain annuity form except that, if the period certain is more than five years, the amount applied will be no less than 95% of the account value. - ------------------------------------------------------------------------------------------------------------------------------ Pennsylvania See "Fixed maturity options" in Series 100, 200 and 300 con- Fixed maturity options are not "What are your investment tracts available. options under the contract" under "Contract features and benefits" See "Loans under TSA, govern- EDC 457 Contracts Taking a loan in excess of the mental employer EDC and Internal Revenue Code Corporate Trusteed contracts" in limits may result in adverse tax "Accessing your money" consequences. Please consult your tax adviser before taking a loan that exceeds the Internal Revenue Code limits. - ------------------------------------------------------------------------------------------------------------------------------ Texas See "Total Annual Expenses" in EQUI-VEST(SM) TSA contracts series Total Separate Account A annual the "Fee Table" section under 200 issued on or after August 1, expenses and total annual "Maximum total Separate 2002 expenses of the Trusts when Account A annual expenses" for added together are not permitted series 200 For TSA contract owners who are to exceed 2.75% (except for the employees of public school dis- Multimanager Aggressive Equity, tricts and open enrollment charter AXA Moderate Allocation, schools (grades K-12) who are EQ/Alliance Common Stock and participants in the TSA plan, the EQ/Money Market options which providers of which are subject to are not permitted to exceed the 403(b) Certification Rules of 1.75%) unless the Teachers the Teacher Retirement System of Retirement System of Texas the State of Texas, and who enroll permits a higher rate. and contribute to the TSA con- tracts through a salary reduction Currently this expense agreement. limitation has the effect of reducing the total expenses applicable to options funded by the Multimanager Health Care, Multimanager International Equity, Multimanager Mid Cap Growth, Multimanager Mid Cap Value, Multimanager Small Cap Growth, Multimanager Small Cap Value, Multimanager Technology, and EQ/Van Kampen Emerging Markets Equity portfolios. - ------------------------------------------------------------------------------------------------------------------------------
IV-2 Appendix IV: State contract availability and/or variations of certain features and benefits
- --------------------------------------------------------------------------------------------------------------------------- Contract type/Series/ State Features and benefits Effective Date Availability or variation - --------------------------------------------------------------------------------------------------------------------------- Texas (cont.) See "Withdrawal Charge" in 6% of the amount withdrawn, "Fees and charges" under "EQUI- generally declining VEST(SM) employer-sponsored for the first through 12th programs at a glance -- key fea- contract years; tures," and in "Charges under the contract" in "Charges and Contract year(s) Charge expenses." 1 6.00% 2 5.75% 3 5.50% 4 5.25% 5 5.00% 6 4.75% 7 4.50% 8 4.25% 9 4.00% 10 3.00% 11 1.00% 12 1.00% 13 and later 0.00% The total of all withdrawal charges may not exceed 8% of all contributions made during a specified period before the withdrawal is made. Unavailability of investment Applies to all contracts regardless EQ/AXA Rosenberg Value option of the date of contract issue for Long/Short Equity investment contract owners who are employ- option is closed for all new ees of public school districts and contributions and incoming open enrollment charter schools transfers. (K-12). See the SAI for condensed finan- cial Information. - --------------------------------------------------------------------------------------------------------------------------- Utah See "Withdrawal charge" in "Fees The change applies to SIMPLE IRA The amount of the withdrawal and charges" under "EQUI-VEST(SM) contract series 400 issued on or charge we deduct is equal to 6% employer-sponsored retirement after November 27, 2006. of contributions withdrawn that programs at a glance -- key fea- exceed the 10% free withdrawal tures;" and "Withdrawal charge amount, that were made in the for series 300 and 400 contracts" current and four prior contracts under "Charges and expenses" years and 5% of contributions withdrawn that were made in the contract year immediately preceding the four prior contract years. - --------------------------------------------------------------------------------------------------------------------------- Vermont See "Loans under TSA, govern- Taking a loan in excess of mental employer EDC and Internal Revenue Code limits may Corporate Trusteed contracts" in result in adverse tax "Accessing your money" consequences. Please consult your tax adviser before taking a loan that exceeds the Internal Revenue Code limits. - --------------------------------------------------------------------------------------------------------------------------- Washington The changes apply to contracts issued on or after August 13, 2001 Fixed Maturity Options All contract types and series Not available See Annual administrative charge All contract types and series This charge is deducted pro rata in "Fees and charges" under from the variable investment "EQUI-VEST(SM) at a glance -- key options. If your account value features" and in "Charges under is allocated 100% to the the contract" under "Charges and guaranteed interest option, the expenses" charge will be waived. See page 5 "Index of key words Trusteed contracts Not available and phrases" - ---------------------------------------------------------------------------------------------------------------------------
Appendix IV: State contract availability and/or variations of certain features and benefits IV-3
- -------------------------------------------------------------------------------------------------------------------- Contract type/Series/ State Features and benefits Effective Date Availability or variation - -------------------------------------------------------------------------------------------------------------------- Washington See "Withdrawal charge" in "Fees SIMPLE IRA contract series 400 In the case of terminations or (cont.) and charges" under "EQUI-VEST(SM) surrenders, we will pay you the at a glance -- key features;" and greater of (i) the cash value or in "Charges under the contract" (ii) the free withdrawal amount under "Charges and expenses" plus 94% of the remaining account value. For issue ages 60 and older, the percentage is 95% of the remaining account value in the 5th contract year and later; and for issue ages under 60, the percentage is 94.5% of the remaining account value in the 6th contract year and later. Withdrawal charge waiver For SIMPLE IRA, the withdrawal charge is waived after five contract years and the annuitant is at least 59-1/2. - --------------------------------------------------------------------------------------------------------------------
IV-4 Appendix IV: State contract availability and/or variations of certain features and benefits Statement of additional information - -------------------------------------------------------------------------------- TABLE OF CONTENTS Page Who is AXA Equitable? 2 Calculation of annuity payments 2 Custodian and independent registered public accounting firm 2 Distribution of the contracts 3 Calculating unit values 3 Condensed financial information 4 Financial statements 45 How to Obtain an EQUI-VEST(SM) Statement of Additional Information for Separate Account A Call 1 (800) 628-6673 or send this request form to: EQUI-VEST(SM) Employer Sponsored Programs Processing Office AXA Equitable P.O. Box 4956 Syracuse, NY 13221-4956 - -------------------------------------------------------------------------------- Please send me an EQUI-VEST(SM) Statement of Additional Information dated May 1, 2008 (Employer Sponsored Retirement Programs) - -------------------------------------------------------------------------------- Name - -------------------------------------------------------------------------------- Address - -------------------------------------------------------------------------------- City State Zip X02042 AXA Equitable Life Insurance Company SUPPLEMENT DATED MAY 1, 2008, TO THE EQUI-VEST(SM) EMPLOYER-SPONSORED RETIREMENT PROGRAMS PROSPECTUS DATED MAY 1, 2008 - -------------------------------------------------------------------------------- This Supplement modifies certain information in the prospectus dated May 1, 2008 (the "Prospectus") for EQUI-VEST(SM) Employer-Sponsored Retirement programs, deferred variable annuity contracts offered by AXA Equitable Life Insurance Company ("AXA Equitable"). AXA Equitable offers its EQUI-VEST(SM) Series 100 and 200 TSA contracts to participants in the TSA plan for the Detroit Board of Education. This Supplement describes the material differences between the Series 100 and 200 TSA plan for the Detroit Board of Education and the EQUI-VEST(SM) Series 100 and 200 TSA contracts described in the Prospectus. Terms in this Supplement have the same meaning as in the Prospectus. o ANNUAL ADMINISTRATIVE CHARGE. The annual administrative charge is waived; therefore all references in the prospectus to "annual administrative charge" or "administrative charge" are deleted in their entirety. FOR USE ONLY WITH DETROIT BOARD OF EDUCATION TSA CONTRACTS EQUI-VEST(SM) is issued by and is a service mark of AXA Equitable Life Insurance Company (AXA Equitable). Co-distributed by affiliates, AXA Advisors, LLC and AXA Distributors, LLC. 1290 Avenue of the Americas, New York, NY 10104. Copyright 2008 AXA Equitable Life Insurance Company. All rights reserved. AXA Equitable Life Insurance Company 1290 Avenue of the Americas New York, NY 10104 212-554-1234 Form No. 888-1413 Catalog No. 138435 x02006 AXA Equitable Life Insurance Company SUPPLEMENT DATED MAY 1, 2008 TO EQUI-VEST(SM) EMPLOYER-SPONSORED RETIREMENT PROGRAMS PROSPECTUS DATED MAY 1, 2008 FOR EMPLOYEES OF ALLEGHENY COUNTY, PENNSYLVANIA - -------------------------------------------------------------------------------- This Supplement modifies certain information contained in the prospectus dated May 1, 2008 ("Prospectus") as it relates to the Series 200 EDC Contracts offered by AXA Equitable Life Insurance Company ("AXA Equitable"). The Series 200 EDC Contracts, modified as described below (the "Modified EDC Contracts"), are offered to employees of Allegheny County, Pennsylvania, on the basis described in the Prospectus, except that the withdrawal charge and annual administrative charge applicable to the Modified EDC Contracts will be as follows: o WITHDRAWAL CHARGE. The withdrawal charge schedule for the Modified EDC Contract is as follows:
- -------------------------------------------------------------- Contract Year(s) Withdrawal Charge - -------------------------------------------------------------- 1 6% 2 5 3 4 4 3 5 2 6+ 0 - --------------------------------------------------------------
This table replaces the table in the Prospectus under "Withdrawal charge for series 100 and 200 contracts" under the heading "For SEP, SARSEP, TSA, EDC and Annuitant-Owned HR-10 contracts" in "Charges and expenses." No withdrawal charge will apply in the event of the: -- Death -- Disability -- Separation from service from Allegheny County -- Retirement of the participant. o ANNUAL ADMINISTRATIVE CHARGE.The annual administrative charge is waived; therefore all references in the Prospectus to "annual administrative charge" or "administrative charge" are deleted in their entirety. Because you are purchasing an annuity contract to fund a qualified employer sponsored retirement arrangement, you should be aware that such annuities do not provide tax deferral benefits beyond those already provided by the Internal Revenue Code. Before purchasing one of these annuities, you should consider whether its features and benefits beyond tax deferral meet your needs and goals. You may also want to consider the relative features, benefits and costs of these annuities with any other investment that you may use in connection with your retirement plan or arrangement. (For more information, see "Tax information," in the Prospectus). EQUI-VEST(SM) is issued by and is a service mark of AXA Equitable Life Insurance Company (AXA Equitable). Co-distributed by affiliates, AXA Advisors, LLC and AXA Distributors, LLC. 1290 Avenue of the Americas, New York, NY 10104. Copyright 2008 AXA Equitable Life Insurance Company. All rights reserved. AXA Equitable Life Insurance Company 1290 Avenue of the Americas New York, NY 10104 212-554-1234 x02007 AXA Equitable Life Insurance Company SUPPLEMENT DATED MAY 1, 2008 TO THE MAY 1, 2008 EQUI-VEST(SM) EMPLOYER-SPONSORED RETIREMENT PROGRAMS PROSPECTUS, SUPPLEMENT TO PROSPECTUS AND STATEMENT OF ADDITIONAL INFORMATION ("SAI") FOR: EQUI-VEST(SM) TSA SERIES 200 CERTIFICATES AND CONTRACTS (THE "MODIFIED TSA CONTRACTS") FOR BROWARD COUNTY PUBLIC SCHOOLS, FLORIDA - -------------------------------------------------------------------------------- This Supplement modifies certain information in the above-referenced prospectus, supplement to prospectus and SAI, as supplemented to date (together, the "Prospectus"), for EQUI-VEST(SM) employer-sponsored retirement programs offered by AXA Equitable Life Insurance Company ("AXA Equitable"). AXA Equitable offers the Modified TSA Contracts as described below, to participants in the TSA Plan for Broward County Public Schools, Florida. This Supplement describes the material differences between the Modified TSA Contracts and the EQUI-VEST(SM) series 200 contracts described in the Prospectus. Terms in this Supplement have the same meaning as in the Prospectus. Material differences between the Modified TSA Contracts and the TSA provisions described in the EQUI-VEST(SM) series 200 Prospectus include the following: A. Administrative charge. The annual administrative charge is waived; therefore, all references in the Prospectus to "annual administrative charge" or "administrative charge" are deleted in their entirety. B. Withdrawal charges. The following changes are made to reflect the changes in circumstances under which withdrawal charges are imposed: 1. The next to the last bullet in "Additional features" under "EQUI-VEST(SM) employer-sponsored retirement programs at a glance--key features" is deleted in its entirety and replaced by the following: Waiver of withdrawal charge under certain circumstances and contracts. See "Charges and expenses" later in this prospectus. 2. In the section "Charges and expenses" of the Prospectus, under "For SEP, SARSEP, TSA, EDC and Annuitant-Owned HR-10 contracts" the following is added after the bullet under the heading "No withdrawal charge applies under a TSA or EDC (subject to state availability) contract if:" FOR THE MODIFIED TSA CONTRACTS ONLY: No withdrawal charge applies for the Modified TSA Contracts if: (1) the participant has retired from employment; (2) the participant has separated from service at any time; (3) the participant has reached age 59-1/2; (4) the amount withdrawn is intended to satisfy the minimum distribution requirements; (5) the employer certifies to us that the amount withdrawn is a "hardship withdrawal" pursuant to applicable Treasury Regulations; (6) the participant is disabled (special federal income definition); (7) we receive proof satisfactory to us that the participant's life expectancy is six months or less (such proof must include, but is not limited to, certification by a licensed physician); (8) the amount withdrawn is attributable to contributions that were made prior to 1/1/1989, and any earnings credited on such contributions prior to 1/1/1989; (9) the participant is rolling over funds as a result of one of the distributable events in (1), (2), (3) and (6) above and (10) below for spousal beneficiaries only, or rollover of unrestricted funds in (8) from EQUI-VEST to another third-party provider; (10) the participant dies and a death benefit is payable to the beneficiary; (11) the withdrawal is made to purchase a payout annuity from AXA Equitable. Because you are purchasing an annuity contract to fund a qualified employer sponsored retirement arrangement, you should be aware that such annuities do not provide tax deferral benefits beyond those already provided by the Internal Revenue Code. Before purchasing one of these annuities, you should consider whether its features and benefits beyond tax deferral meet your needs and goals. You may also want to consider the relative features, benefits and costs of these annuities with any other investment that you may use in connection with your retirement plan or arrangement. (For more information, see "Tax information," in the Prospectus). FOR USE ONLY WITH TSA CERTIFICATES/CONTRACTS OF BROWARD COUNTY PUBLIC SCHOOLS, FLORIDA x02008 EQUI-VEST(SM) is issued by and is a service mark of AXA Equitable Life Insurance Company (AXA Equitable). Co-distributed by affiliates, AXA Advisors, LLC and AXA Distributors, LLC. 1290 Avenue of the Americas, New York, NY 10104. Copyright 2008 AXA Equitable Life Insurance Company. All rights reserved. AXA Equitable Life Insurance Company 1290 Avenue of the Americas New York, NY 10104 212-554-1234 2 AXA Equitable Life Insurance Company SUPPLEMENT DATED MAY 1, 2008 TO THE MAY 1, 2008 EQUI-VEST(SM) EMPLOYER-SPONSORED RETIREMENT PROGRAMS PROSPECTUS, SUPPLEMENT TO PROSPECTUS AND STATEMENT OF ADDITIONAL INFORMATION ("SAI") FOR: EQUI-VEST(SM) TSA SERIES 100 AND 200 CERTIFICATES AND CONTRACTS AND EDC SERIES 200 CONTRACTS (THE "MODIFIED CONTRACTS") FOR CHARLOTTE-MECKLENBERG PUBLIC SCHOOLS, NORTH CAROLINA. - -------------------------------------------------------------------------------- This Supplement modifies certain information in the above-referenced prospectus, supplement to prospectus and SAI, as supplemented to date (together, the "Prospectus"), for EQUI-VEST(SM) employer-sponsored retirement programs offered by AXA Equitable Life Insurance Company ("AXA Equitable"). Unless otherwise indicated, all other information included in the Prospectus remains unchanged. The terms and section headings we use in this supplement have the same meaning as in the Prospectus. AXA Equitable offers the Modified Contracts described below to participants in the TSA and EDC Plans for Charlotte-Mecklenberg Public Schools, North Carolina. This Supplement describes the material differences between the Modified Contracts and the EQUI-VEST(SM) series 100 and 200 contracts described in the Prospectus. Terms in this Supplement have the same meaning as in the Prospectus. Material differences between the Modified Contracts and the TSA and EDC provisions described in the series 100 and 200 prospectus include the following: A. Administrative charge. The annual administrative charge is waived; therefore, all references in the Prospectus to "annual administrative charge" or "administrative charge" are deleted in their entirety. B. Withdrawal charges. The following changes are made to reflect the changes in circumstances under which withdrawal charges are imposed: 1. The next to last bullet in "Additional features" under "EQUI-VEST(SM) employer-sponsored retirement programs at a glance - key features" is deleted in its entirety and replaced with the following: o Waiver of withdrawal charge under certain circumstances and contracts. See "Charges and expenses" later in this Prospectus. 2. In the section "Charges and expenses" of the Prospectus, under "Withdrawal charge for series 100 and 200 contracts," "For SEP, SARSEP, TSA, EDC and Annuitant-Owned HR-10 contracts," the fifth paragraph and bulleted statement that follow that paragraph are replaced with the following: No withdrawal charge applies under TSA or EDC contracts if: o The annuitant separates from service at any time; o The annuitant has qualified to receive Social Security disability benefits as certified by the Social Security Administration or is totally disabled; o The annuitant retires from employment; o The annuitant makes a withdrawal to satisfy minimum distribution requirements; or o The annuitant elects a withdrawal that qualifies as a hardship withdrawal (or for EDC, an unforeseeable emergency withdrawal) under the Internal Revenue Code. Because you are purchasing an annuity contract to fund a qualified employer sponsored retirement arrangement, you should be aware that such annuities do not provide tax deferral benefits beyond those already provided by the Internal Revenue Code. Before purchasing one of these annuities, you should consider whether its features and benefits beyond tax deferral meet your needs and goals. You may also want to consider the relative features, benefits and costs of these annuities with any other investment that you may use in connection with your retirement plan or arrangement. (For more information, see "Tax information," in the Prospectus). FOR USE WITH TSA and EDC CERTIFICATES/CONTRACTS OF CHARLOTTE-MECKLENBERG PUBLIC SCHOOLS NORTH CAROLINA EQUI-VEST(SM) is issued by and is a service mark of AXA Equitable Life Insurance Company (AXA Equitable). Co-distributed by affiliates, AXA Advisors, LLC and AXA Distributors, LLC. 1290 Avenue of the Americas, New York, NY 10104. Copyright 2008 AXA Equitable Life Insurance Company. All rights reserved. AXA Equitable Life Insurance Company 1290 Avenue of the Americas New York, NY 10104 212-554-1234 888-1359 x02009 AXA Equitable Life Insurance Company SUPPLEMENT DATED MAY 1, 2008 TO THE MAY 1, 2008 EQUI-VEST(SM) EMPLOYER-SPONSORED RETIREMENT PROGRAMS PROSPECTUS, SUPPLEMENT TO PROSPECTUS AND STATEMENT OF ADDITIONAL INFORMATION ("SAI") FOR: EQUI-VEST(SM) TSA series 100 and 200 certificates and contracts and EDC series 200 contracts (the "Modified Contracts") for the Douglas County School District, Colorado. - -------------------------------------------------------------------------------- This Supplement modifies certain information in the above-referenced prospectus, supplement to prospectus and SAI, as supplemented to date (together, the "Prospectus"), for EQUI-VEST(SM) employer-sponsored retirement programs offered by AXA Equitable Life Insurance Company ("AXA Equitable"). AXA Equitable offers the Modified Contracts described below to participants in the TSA and EDC Plans for the Douglas County School District, Colorado. This Supplement describes the material differences between the Modified Contracts and the EQUI-VEST(SM) series 100 and 200 certificates/contracts described in the Prospectus. Terms in this Supplement have the same meaning as in the Prospectus. Material differences between the Modified Contracts and the TSA and EDC provisions described in the series 100 and 200 prospectus include the following: A. Administrative charge. The annual administrative charge is waived; therefore, all references in the Prospectus to "annual administrative charge" or "administrative charge" are deleted in their entirety. B. Withdrawal charges. The following changes are made to reflect the changes in circumstances under which withdrawal charges are imposed: 1. The next to last bullet in "Additional features" under "EQUI-VEST(SM) employer-sponsored retirement programs at a glance -- key features" is deleted in its entirety and replaced with the following: o Waiver of withdrawal charge under certain circumstances and contracts. See "Charges and expenses" later in this Prospectus. 2. In the section "Charges and expenses" of the Prospectus, under "Withdrawal charge for series 100 and 200 contracts," "For SEP, SARSEP, TSA, EDC and Annuitant-Owned HR-10 contracts," the fifth paragraph and bulleted statement that follow that paragraph are replaced with the following: No withdrawal charge applies under TSA or EDC contracts if: o The annuitant separates from service at any time; o The annuitant has qualified to receive Social Security disability benefits as certified by the Social Security Administration or is totally disabled; o The annuitant makes a withdrawal to satisfy minimum distribution requirements; o The annuitant elects a withdrawal that qualifies as a hardship withdrawal (or for EDC, an unforeseeable emergency withdrawal) under the Internal Revenue Code; o We receive proof satisfactory to us (including certification by a licensed physician) that the annuitant's life expectancy is six months or less; or o The annuitant has been confined to a nursing home for more than 90 days (or such other period, as required in your state) as verified by a licensed physician. A nursing home for this purpose means one that is (a) approved by Medicare as a provider of skilled nursing care services, 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. For use with TSA and EDC certificates/contracts of the Douglas County School District, Colorado x02010 C. Current total Separate Account A annual expenses. The following changes are made to reflect a change in the current total Separate Account A annual expenses: 1. The following sentence is added at the end of the first bullet in "Fees and charges" under the "EQUI-VEST(SM) employer-sponsored retirement programs at a glance -- key features" in the Prospectus: For series 100 and 200 Modified Contracts only, we deduct a daily charge on amounts invested in the variable investment options for mortality and expense risks and other expenses at a current annual rate of 0.90%. 2. The following footnote(+) is added to "Maximum total Separate Account A annual expenses" under "Fee table" in the Prospectus: (+) For Modified Contracts, the current total Separate Account A annual charge is 0.90% of the value of the assets in each variable investment option (this reflects a decrease in the current charge for the mortality and expense risk charge or other expenses). 3. The section entitled, "Charges under the contracts" under "Charges and expenses" is modified as follows: MORTALITY AND EXPENSE RISKS CHARGE. The following information replaces the first paragraph (including the chart) of this section: We deduct a daily charge from the net assets in each variable investment option to compensate us for mortality and expense risks, including the death benefit. The daily charge is equivalent to an annual rate of 0.65% of the net assets in each of the variable investment options. CHARGE FOR OTHER EXPENSES. The following information replaces this section in its entirety: We deduct a daily charge from the net assets in each variable investment option to reimburse us for the cost of financial accounting services we provide under the contracts. The daily charge is equivalent to an annual rate of 0.25% of the net assets in each of the variable investment options. D. Condensed Financial Information. The unit values and number of units outstanding shown below as of December 31, 2007 are for contracts offered under Separate Account A with the same daily asset charge of 0.90%. 2 EQUI-VEST(SM) Modified Douglas County School District Unit values and number of units outstanding for each variable investment option, except for those options offered for the first time on or after December 31, 2007.
- ------------------------------------------------------------------------------------------------------ For the years ending December 31, -------------------------------------------------------------- 2003 2004 2005 2006 2007 - ------------------------------------------------------------------------------------------------------ AXA Aggressive Allocation - ------------------------------------------------------------------------------------------------------ Unit value $ 109.27 $ 121.06 $ 129.64 $ 151.47 $ 159.36 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 1 5 9 - ------------------------------------------------------------------------------------------------------ AXA Conservative Allocation - ------------------------------------------------------------------------------------------------------ Unit value $ 102.27 $ 107.45 $ 109.09 $ 115.00 $ 120.57 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 1 1 2 - ------------------------------------------------------------------------------------------------------ AXA Conservative-Plus Allocation - ------------------------------------------------------------------------------------------------------ Unit value $ 104.26 $ 111.33 $ 113.91 $ 122.77 $ 128.34 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 2 4 7 - ------------------------------------------------------------------------------------------------------ AXA Moderate Allocation - ------------------------------------------------------------------------------------------------------ Unit value $ 163.61 $ 176.72 $ 183.99 $ 201.66 $ 212.90 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 43 46 56 60 67 - ------------------------------------------------------------------------------------------------------ AXA Moderate-Plus Allocation - ------------------------------------------------------------------------------------------------------ Unit value $ 108.08 $ 119.63 $ 126.46 $ 143.50 $ 151.29 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 3 6 16 35 - ------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Common Stock - ------------------------------------------------------------------------------------------------------ Unit value $ 175.55 $ 199.03 $ 206.24 $ 226.80 $ 233.16 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 44 45 65 65 67 - ------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Intermediate Government Securities - ------------------------------------------------------------------------------------------------------ Unit value $ 149.21 $ 151.11 $ 151.99 $ 155.73 $ 165.32 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 3 2 3 3 3 - ------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein International - ------------------------------------------------------------------------------------------------------ Unit value $ 109.44 $ 128.49 $ 147.18 $ 180.59 $ 200.46 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 18 20 28 31 36 - ------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Large Cap Growth - ------------------------------------------------------------------------------------------------------ Unit value $ 59.16 $ 63.54 $ 72.38 $ 71.34 $ 80.58 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 3 3 4 6 9 - ------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Quality Bond - ------------------------------------------------------------------------------------------------------ Unit value $ 157.69 $ 162.53 $ 164.70 $ 169.90 $ 176.45 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 2 3 5 4 6 - ------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Small Cap Growth - ------------------------------------------------------------------------------------------------------ Unit value $ 143.04 $ 161.98 $ 179.44 $ 194.31 $ 225.25 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 6 7 11 11 12 - ------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Value - ------------------------------------------------------------------------------------------------------ Unit value $ 104.15 $ 117.09 $ 122.34 $ 147.18 $ 139.22 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 3 7 13 18 16 - ------------------------------------------------------------------------------------------------------ EQ/AXA Rosenberg Value Long/Short Equity - ------------------------------------------------------------------------------------------------------ Unit value $ 99.57 $ 102.25 $ 108.95 $ 109.53 $ 112.11 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------ EQ/BlackRock Basic Value Equity - ------------------------------------------------------------------------------------------------------ Unit value $ 144.90 $ 158.78 $ 161.99 $ 194.11 $ 194.62 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 3 4 9 9 12 - ------------------------------------------------------------------------------------------------------ EQ/BlackRock International Value - ------------------------------------------------------------------------------------------------------ Unit value $ 97.27 $ 117.26 $ 128.80 $ 160.43 $ 175.18 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 5 6 10 14 20 - ------------------------------------------------------------------------------------------------------ EQ/Boston Advisors Equity Income - ------------------------------------------------------------------------------------------------------ Unit value -- $ 107.08 $ 112.64 $ 129.46 $ 133.03 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 1 1 2 - ------------------------------------------------------------------------------------------------------
3
- ------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------ 2003 2004 2005 2006 2007 - ------------------------------------------------------------------------------------------------------ EQ/Calvert Socially Responsible - ------------------------------------------------------------------------------------------------------ Unit value $ 81.01 $ 83.16 $ 89.61 $ 93.45 $ 103.84 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 1 2 3 3 - ------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Growth - ------------------------------------------------------------------------------------------------------ Unit value $ 67.15 $ 70.23 $ 73.16 $ 77.86 $ 81.39 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 1 1 1 1 - ------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Research - ------------------------------------------------------------------------------------------------------ Unit value $106.04 $ 116.55 $ 122.50 $ 136.03 $ 137.03 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 7 8 14 14 25 - ------------------------------------------------------------------------------------------------------ EQ/Caywood-Scholl High Yield Bond - ------------------------------------------------------------------------------------------------------ Unit value -- -- $ 104.28 $ 111.58 $ 113.67 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 1 - ------------------------------------------------------------------------------------------------------ EQ/Davis New York Venture - ------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 97.21 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 1 - ------------------------------------------------------------------------------------------------------ EQ/Equity 500 Index - ------------------------------------------------------------------------------------------------------ Unit value $173.95 $ 190.50 $ 197.59 $ 225.93 $ 235.57 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 10 14 23 26 28 - ------------------------------------------------------------------------------------------------------ EQ/Evergreen International Bond - ------------------------------------------------------------------------------------------------------ Unit value -- -- $ 97.60 $ 100.03 $ 108.35 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 1 - ------------------------------------------------------------------------------------------------------ EQ/Evergreen Omega - ------------------------------------------------------------------------------------------------------ Unit value $ 79.22 $ 84.03 $ 86.57 $ 90.83 $ 100.21 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 1 2 3 2 - ------------------------------------------------------------------------------------------------------ EQ/FI Mid Cap - ------------------------------------------------------------------------------------------------------ Unit value $ 98.80 $ 113.60 $ 119.75 $ 132.35 $ 141.69 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 4 6 15 19 24 - ------------------------------------------------------------------------------------------------------ EQ/Franklin Income - ------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 104.43 $ 105.62 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 7 - ------------------------------------------------------------------------------------------------------ EQ/Franklin Small Cap Value - ------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 108.37 $ 98.12 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------ EQ/Franklin Templeton Founding Strategy - ------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 95.43 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 1 - ------------------------------------------------------------------------------------------------------ EQ/GAMCO Mergers and Acquisitions - ------------------------------------------------------------------------------------------------------ Unit value -- -- $ 105.35 $ 117.15 $ 120.07 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------ EQ/GAMCO Small Company Value - ------------------------------------------------------------------------------------------------------ Unit value -- $ 113.34 $ 117.17 $ 137.99 $ 149.46 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 1 2 5 - ------------------------------------------------------------------------------------------------------ EQ/International Core PLUS - ------------------------------------------------------------------------------------------------------ Unit value $ 90.25 $ 101.61 $ 117.94 $ 139.38 $ 159.14 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 2 4 5 5 - ------------------------------------------------------------------------------------------------------ EQ/International Growth - ------------------------------------------------------------------------------------------------------ Unit value -- -- $ 115.34 $ 143.61 $ 165.37 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- 1 2 - ------------------------------------------------------------------------------------------------------ EQ/JPMorgan Core Bond - ------------------------------------------------------------------------------------------------------ Unit value $110.17 $ 113.65 $ 115.13 $ 118.73 $ 121.31 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 2 3 4 6 - ------------------------------------------------------------------------------------------------------
4
- ------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------ 2003 2004 2005 2006 2007 - ------------------------------------------------------------------------------------------------------ EQ/JPMorgan Value Opportunities - ------------------------------------------------------------------------------------------------------ Unit value $ 98.05 $ 107.74 $ 109.96 $ 132.37 $ 129.59 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 2 1 5 5 7 - ------------------------------------------------------------------------------------------------------ EQ/Large Cap Core PLUS - ------------------------------------------------------------------------------------------------------ Unit value $ 81.18 $ 89.62 $ 95.21 $ 106.56 $ 109.70 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 1 1 1 1 - ------------------------------------------------------------------------------------------------------ EQ/Large Cap Growth PLUS - ------------------------------------------------------------------------------------------------------ Unit value $ 81.47 $ 90.93 $ 87.96 $ 104.93 $ 120.23 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 6 7 25 26 26 - ------------------------------------------------------------------------------------------------------ EQ/Legg Mason Value Equity - ------------------------------------------------------------------------------------------------------ Unit value -- -- $ 106.52 $ 112.77 $ 105.13 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- 1 1 - ------------------------------------------------------------------------------------------------------ EQ/Long Term Bond - ------------------------------------------------------------------------------------------------------ Unit value -- -- $ 100.29 $ 101.20 $ 107.70 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- 1 1 - ------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Growth and Income - ------------------------------------------------------------------------------------------------------ Unit value -- -- $ 106.30 $ 123.48 $ 126.61 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- 1 1 - ------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Large Cap Core - ------------------------------------------------------------------------------------------------------ Unit value -- -- $ 105.93 $ 118.30 $ 129.75 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Mid Cap Value - ------------------------------------------------------------------------------------------------------ Unit value -- -- $ 111.82 $ 124.58 $ 124.17 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 2 - ------------------------------------------------------------------------------------------------------ EQ/Marsico Focus - ------------------------------------------------------------------------------------------------------ Unit value $120.75 $ 132.24 $ 145.08 $ 157.18 $ 177.63 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 3 5 11 16 21 - ------------------------------------------------------------------------------------------------------ EQ/Mid Cap Value PLUS - ------------------------------------------------------------------------------------------------------ Unit value $100.68 $ 117.59 $ 129.73 $ 144.61 $ 141.01 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 5 8 15 16 19 - ------------------------------------------------------------------------------------------------------ EQ/Money Market - ------------------------------------------------------------------------------------------------------ Unit value $127.81 $ 127.96 $ 130.47 $ 135.41 $ 140.86 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 2 2 19 19 26 - ------------------------------------------------------------------------------------------------------ EQ/Montag & Caldwell Growth - ------------------------------------------------------------------------------------------------------ Unit value -- $ 104.76 $ 109.43 $ 117.07 $ 140.16 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 1 - ------------------------------------------------------------------------------------------------------ EQ/Mutual Shares - ------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 107.25 $ 108.03 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- 1 1 - ------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Global - ------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 111.10 $ 116.38 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 1 - ------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Opportunity - ------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 95.45 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Small Cap - ------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 111.14 $ 108.19 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 1 - ------------------------------------------------------------------------------------------------------ EQ/PIMCO Real Return - ------------------------------------------------------------------------------------------------------ Unit value -- -- $ 99.64 $ 99.13 $ 109.51 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 7 - ------------------------------------------------------------------------------------------------------
5
- ------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------ 2003 2004 2005 2006 2007 - ------------------------------------------------------------------------------------------------------ EQ/Short Duration Bond - ------------------------------------------------------------------------------------------------------ Unit value -- -- $ 100.09 $ 103.12 $ 107.62 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------ EQ/Small Company Index - ------------------------------------------------------------------------------------------------------ Unit value $ 118.42 $ 138.09 $ 142.68 $ 166.44 $ 161.92 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 2 5 6 7 - ------------------------------------------------------------------------------------------------------ EQ/T. Rowe Price Growth Stock - ------------------------------------------------------------------------------------------------------ Unit value -- $ 111.33 $ 114.73 $ 109.14 $ 115.97 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 4 - ------------------------------------------------------------------------------------------------------ EQ/Templeton Growth - ------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 107.73 $ 108.98 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- 1 1 - ------------------------------------------------------------------------------------------------------ EQ/UBS Growth and Income - ------------------------------------------------------------------------------------------------------ Unit value -- $ 109.34 $ 118.12 $ 133.62 $ 133.96 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------ EQ/Van Kampen Comstock - ------------------------------------------------------------------------------------------------------ Unit value -- -- $ 104.60 $ 120.15 $ 116.08 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- 1 1 - ------------------------------------------------------------------------------------------------------ EQ/Van Kampen Emerging Markets Equity - ------------------------------------------------------------------------------------------------------ Unit value $ 134.89 $ 165.33 $ 217.56 $ 295.50 $ 415.87 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 2 2 2 6 9 - ------------------------------------------------------------------------------------------------------ EQ/Van Kampen Mid Cap Growth - ------------------------------------------------------------------------------------------------------ Unit value -- -- $ 124.11 $ 134.38 $ 163.01 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- 1 3 - ------------------------------------------------------------------------------------------------------ EQ/Van Kampen Real Estate - ------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 83.06 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 9 - ------------------------------------------------------------------------------------------------------ Multimanager Aggressive Equity - ------------------------------------------------------------------------------------------------------ Unit value $ 86.37 $ 96.18 $ 103.39 $ 107.97 $ 119.48 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 49 50 54 53 52 - ------------------------------------------------------------------------------------------------------ Multimanager Core Bond - ------------------------------------------------------------------------------------------------------ Unit value $ 110.22 $ 113.47 $ 114.42 $ 117.67 $ 123.90 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 2 2 3 - ------------------------------------------------------------------------------------------------------ Multimanager Health Care - ------------------------------------------------------------------------------------------------------ Unit value $ 100.74 $ 111.95 $ 118.66 $ 123.63 $ 133.49 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 2 3 3 - ------------------------------------------------------------------------------------------------------ Multimanager High Yield - ------------------------------------------------------------------------------------------------------ Unit value $ 130.87 $ 141.28 $ 144.66 $ 157.99 $ 161.88 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 2 2 4 4 5 - ------------------------------------------------------------------------------------------------------ Multimanager International Equity - ------------------------------------------------------------------------------------------------------ Unit value $ 104.39 $ 121.98 $ 139.55 $ 173.31 $ 193.09 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 2 4 5 - ------------------------------------------------------------------------------------------------------ Multimanager Large Cap Core Equity - ------------------------------------------------------------------------------------------------------ Unit value $ 97.48 $ 105.95 $ 112.07 $ 126.14 $ 131.25 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 1 -- 1 - ------------------------------------------------------------------------------------------------------ Multimanager Large Cap Growth - ------------------------------------------------------------------------------------------------------ Unit value $ 88.25 $ 93.28 $ 99.37 $ 98.58 $ 108.68 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 2 -- 4 - ------------------------------------------------------------------------------------------------------ Multimanager Large Cap Value - ------------------------------------------------------------------------------------------------------ Unit value $ 103.20 $ 117.02 $ 124.20 $ 146.87 $ 150.84 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 2 2 3 - ------------------------------------------------------------------------------------------------------
6
- ------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------ 2003 2004 2005 2006 2007 - ------------------------------------------------------------------------------------------------------ Multimanager Mid Cap Growth - ------------------------------------------------------------------------------------------------------ Unit value $ 86.54 $ 95.83 $ 102.93 $ 111.81 $ 123.99 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 1 3 3 4 - ------------------------------------------------------------------------------------------------------ Multimanager Mid Cap Value - ------------------------------------------------------------------------------------------------------ Unit value $103.15 $ 117.75 $ 125.26 $ 142.42 $ 141.27 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 1 2 2 3 - ------------------------------------------------------------------------------------------------------ Multimanager Small Cap Growth - ------------------------------------------------------------------------------------------------------ Unit value -- $ 114.70 $ 122.18 $ 133.44 $ 137.10 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 1 1 3 - ------------------------------------------------------------------------------------------------------ Multimanager Small Cap Value - ------------------------------------------------------------------------------------------------------ Unit value $155.30 $ 180.23 $ 186.98 $ 215.15 $ 192.22 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 2 4 9 10 13 - ------------------------------------------------------------------------------------------------------ Multimanager Technology - ------------------------------------------------------------------------------------------------------ Unit value $ 88.87 $ 92.46 $ 101.96 $ 108.42 $ 127.01 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 4 6 6 6 - ------------------------------------------------------------------------------------------------------ Target 2015 Allocation - ------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 108.47 $ 115.27 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 1 - ------------------------------------------------------------------------------------------------------ Target 2025 Allocation - ------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 109.42 $ 116.42 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------ Target 2035 Allocation - ------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 110.31 $ 117.39 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 1 - ------------------------------------------------------------------------------------------------------ Target 2045 Allocation - ------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 111.10 $ 118.69 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------
Because you are purchasing an annuity contract to fund a qualified employer sponsored retirement arrangement, you should be aware that such annuities do not provide tax deferral benefits beyond those already provided by the Internal Revenue Code. Before purchasing one of these annuities, you should consider whether its features and benefits beyond tax deferral meet your needs and goals. You may also want to consider the relative features, benefits and costs of these annuities with any other investment that you may use in connection with your retirement plan or arrangement. (For more information, see "Tax information," in the Prospectus). EQUI-VEST(SM) is issued by and is a service mark of AXA Equitable Life Insurance Company (AXA Equitable). Co-distributed by affiliates, AXA Advisors, LLC and AXA Distributors, LLC. 1290 Avenue of the Americas, New York, NY 10104. Copyright 2008 AXA Equitable Life Insurance Company. All rights reserved. AXA Equitable Life Insurance Company 1290 Avenue of the Americas New York, NY 10104 212-554-1234 7 AXA Equitable Life Insurance Company SUPPLEMENT DATED MAY 1, 2008 TO THE MAY 1, 2008 EQUI-VEST(SM) EMPLOYER-SPONSORED RETIREMENT PROGRAMS PROSPECTUS, SUPPLEMENT TO PROSPECTUS AND STATEMENT OF ADDITIONAL INFORMATION ("SAI") FOR: EQUI-VEST(SM) TSA SERIES 200 CERTIFICATES AND CONTRACTS (THE "MODIFIED TSA CONTRACTS") FOR FROEDTERT MEMORIAL LUTHERAN HOSPITAL - -------------------------------------------------------------------------------- This Supplement modifies certain information in the above-referenced prospectus, supplement to prospectus and SAI, as supplemented to date (together, the "Prospectus"), for EQUI-VEST(SM) employer-sponsored retirement programs offered by AXA Equitable Life Insurance Company ("AXA Equitable"). AXA Equitable offers the Modified TSA Contracts as described below, to participants in the TSA Plan for Froedtert Memorial Lutheran Hospital. This Supplement describes the material differences between the Modified TSA Contracts and the EQUI-VEST(SM) series 200 contracts described in the Prospectus. Terms in this Supplement have the same meaning as in the Prospectus. Material differences between the Modified TSA Contracts and the TSA provisions described in the EQUI-VEST(SM) series 200 Prospectus include the following: A. Administrative charge. The annual administrative charge is waived; therefore, all references in the Prospectus to "annual administrative charge" or "administrative charge" are deleted in their entirety. B. Withdrawal charges. The following changes are made to reflect the changes in circumstances under which withdrawal charges are imposed: 1. The next to the last bullet in "Additional features" under "EQUI-VEST(SM) employer-sponsored retirement programs at a glance--key features" is deleted in its entirety and replaced by the following: o Waiver of withdrawal charge under certain circumstances and contracts. See "Charges and expenses" later in this prospectus. 2. In the section "Charges and expenses" of the Prospectus, under "For SEP, SARSEP, TSA, EDC and Annuitant-Owned HR-10 contracts" the sentence "No withdrawal charge applies under a TSA or EDC (subject to state availability) contract if:" and bullet thereunder are deleted in their entirety FOR THE MODIFIED TSA CONTRACTS ONLY, and replaced by the following: In addition to the foregoing exceptions, no withdrawal charge applies for the Modified TSA Contracts if: o the participant has retired from employment; o the participant has separated from service at any time; o the participant has qualified to receive Social Security benefits as certified by the Social Security Administration, or is totally disabled as defined in the contract; o The amount withdrawn is intended to satisfy the Code's minimum distribution requirements (Section 401(a)(9), applicable after the participant turns age 70-1/2); o The employer certifies to us that the amount withdrawn is defined as a "hardship withdrawal" pursuant to applicable Treasury Regulations. C. Current total Separate Account A annual expenses. The following changes are made to reflect a change in the current total Separate Account A annual expenses: 1. The first bullet in "Fees and charges" under the "EQUI-VEST(SM) employer-sponsored retirement programs at a glance--key features" in the Prospectus is modified as follows: o For series 200 Modified TSA Contracts, we deduct a daily charge on amounts invested in the variable investment options for mortality and expense risks and other expenses at a current annual rate of 0.90%. 2. The following footnote (+) is added to "Maximum total Separate Account A annual expenses " under "Fee table" in the Prospectus: (+) For the Modified TSA contracts, the current total Separate Account A annual charge is 0.90% of the value of the assets in each variable investment option (this reflects a decrease in the current charge for the mortality and expense risk charge). FOR USE ONLY WITH TSA CERTIFICATES/CONTRACTS OF FROEDTERT MEMORIAL LUTHERAN HOSPITAL MILWAUKEE, WISCONSIN X02011 Under "Charges under the contracts" in the "Charges and expenses" section of the Prospectus, the following changes are made: 3. o The chart under "Mortality and expense risks charge" is replaced by the following: - -------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock All Other Variable EQ/Money Market Options Investment Options - -------------------------------------------------------------------------------- Series Series 200 200 ---------------------------------------------------------------------- Current 0.65% 0.65% Maximum 1.24% 1.09% - -------------------------------------------------------------------------------- 4. Condensed Financial Information The unit values and number of units outstanding shown below as of December 31, 2007 are for contracts offered under Separate Account A with the same daily asset charge of 0.90%.
EQUI-VEST(SM) Modified TSA Froedtert Memorial Lutheran Hospital Unit values and number of units outstanding at year end for each variable investment option, except for those options offered for the first time on or after December 31, 2007 - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, ---------------------------------------------- 2003 2004 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Aggressive Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 109.27 $ 121.06 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Conservative Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 102.27 $ 107.45 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ AXA Conservative-Plus Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 104.26 $ 111.33 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Moderate Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 163.61 $ 176.72 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 43 46 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Moderate-Plus Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 108.08 $ 119.63 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 3 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Common Stock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 175.55 $ 199.03 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 44 45 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Intermediate Government Securities - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 149.21 $ 151.11 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 3 2 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein International - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 109.44 $ 128.49 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 18 20 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Large Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 59.16 $ 63.54 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 3 3 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Quality Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 157.69 $ 162.53 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 2 3 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Small Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 143.04 $ 161.98 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 6 7 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 104.15 $ 117.09 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 3 7 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, ------------------------------------------- 2005 2006 2007 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Aggressive Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 129.64 $ 151.47 $ 159.36 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 5 9 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Conservative Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 109.09 $ 115.00 $ 120.57 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 1 2 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Conservative-Plus Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 113.91 $ 122.77 $ 128.34 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 2 4 7 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Moderate Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 183.99 $ 201.66 $ 212.90 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 56 60 67 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Moderate-Plus Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 126.46 $ 143.50 $ 151.29 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 6 16 35 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Common Stock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 206.24 $ 226.80 $ 233.16 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 65 65 67 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Intermediate Government Securities - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 151.99 $ 155.73 $ 165.32 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 3 3 3 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein International - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 147.18 $ 180.59 $ 200.46 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 28 31 36 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Large Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 72.38 $ 71.34 $ 80.58 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 4 6 9 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Quality Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 164.70 $ 169.90 $ 176.45 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 5 4 6 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Small Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 179.44 $ 194.31 $ 225.25 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 11 11 12 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 122.34 $ 147.18 $ 139.22 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 13 18 16 - ------------------------------------------------------------------------------------------------------------------------------------
2
EQUI-VEST(SM) Modified TSA Froedtert Memorial Lutheran Hospital Unit values and number of units outstanding at year end for each variable investment option, except for those options offered for the first time on or after December 31, 2007 (continued) - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, ------------------------------------------------ 2003 2004 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AXA Rosenberg Value Long/Short Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 99.57 $ 102.25 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/BlackRock Basic Value Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $144.90 $ 158.78 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 3 4 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/BlackRock International Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 97.27 $ 117.26 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 5 6 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Boston Advisors Equity Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 107.08 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Calvert Socially Responsible - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 81.01 $ 83.16 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 67.15 $ 70.23 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Research - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $106.04 $ 116.55 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 7 8 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Caywood-Scholl High Yield Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Davis New York Venture - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Equity 500 Index - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $173.95 $ 190.50 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 10 14 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Evergreen International Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Evergreen Omega - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 79.22 $ 84.03 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/FI Mid Cap - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 98.80 $ 113.60 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 4 6 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Small Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Templeton Founding Strategy - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, ------------------------------------------- 2005 2006 2007 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AXA Rosenberg Value Long/Short Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 108.95 $ 109.53 $ 112.11 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/BlackRock Basic Value Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 161.99 $ 194.11 $ 194.62 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 9 9 12 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/BlackRock International Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 128.80 $ 160.43 $ 175.18 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 10 14 20 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Boston Advisors Equity Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 112.64 $ 129.46 $ 133.03 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 1 2 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Calvert Socially Responsible - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 89.61 $ 93.45 $ 103.84 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 2 3 3 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 73.16 $ 77.86 $ 81.39 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 1 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Research - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 122.50 $ 136.03 $ 137.03 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 14 14 25 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Caywood-Scholl High Yield Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 104.28 $ 111.58 $ 113.67 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Davis New York Venture - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 97.21 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Equity 500 Index - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 197.59 $ 225.93 $ 235.57 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 23 26 28 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Evergreen International Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 97.60 $ 100.03 $ 108.35 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Evergreen Omega - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 86.57 $ 90.83 $ 100.21 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 2 3 2 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/FI Mid Cap - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 119.75 $ 132.35 $ 141.69 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 15 19 24 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 104.43 $ 105.62 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 7 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Small Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 108.37 $ 98.12 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Templeton Founding Strategy - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 95.43 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 1 - ------------------------------------------------------------------------------------------------------------------------------------
3
EQUI-VEST(SM) Modified TSA Froedtert Memorial Lutheran Hospital Unit values and number of units outstanding at year end for each variable investment option, except for those options offered for the first time on or after December 31, 2007 (continued) - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, --------------------------------------------- 2003 2004 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/GAMCO Mergers and Acquisitions - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/GAMCO Small Company Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 113.34 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/International Core PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 90.25 $ 101.61 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 2 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/International Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/JPMorgan Core Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $110.17 $ 113.65 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 2 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/JPMorgan Value Opportunities - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 98.05 $ 107.74 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 2 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Large Cap Core PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 81.18 $ 89.62 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Large Cap Growth PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 81.47 $ 90.93 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 6 7 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Legg Mason Value Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Long Term Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Growth and Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Large Cap Core - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Mid Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Marsico Focus - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $120.75 $ 132.24 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 3 5 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Mid Cap Value PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $100.68 $ 117.59 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 5 8 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Money Market - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $127.81 $ 127.96 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 2 2 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, --------------------------------------------- 2005 2006 2007 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/GAMCO Mergers and Acquisitions - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 105.35 $ 117.15 $ 120.07 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/GAMCO Small Company Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 117.17 $ 137.99 $ 149.46 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 2 5 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/International Core PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 117.94 $ 139.38 $ 159.14 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 4 5 5 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/International Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 115.34 $ 143.61 $ 165.37 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 2 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/JPMorgan Core Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 115.13 $ 118.73 $ 121.31 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 3 4 6 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/JPMorgan Value Opportunities - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 109.96 $ 132.37 $ 129.59 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 5 5 7 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Large Cap Core PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 95.21 $ 106.56 $ 109.70 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 1 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Large Cap Growth PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 87.96 $ 104.93 $ 120.23 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 25 26 26 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Legg Mason Value Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 106.52 $ 112.77 $ 105.13 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Long Term Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 100.29 $ 101.20 $ 107.70 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Growth and Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 106.30 $ 123.48 $ 126.61 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Large Cap Core - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 105.93 $ 118.30 $ 129.75 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Mid Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 111.82 $ 124.58 $ 124.17 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 2 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Marsico Focus - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 145.08 $ 157.18 $ 177.63 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 11 16 21 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Mid Cap Value PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 129.73 $ 144.61 $ 141.01 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 15 16 19 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Money Market - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 130.47 $ 135.41 $ 140.86 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 19 19 26 - ------------------------------------------------------------------------------------------------------------------------------------
4
EQUI-VEST(SM) Modified TSA Froedtert Memorial Lutheran Hospital Unit values and number of units outstanding at year end for each variable investment option, except for those options offered for the first time on or after December 31, 2007 (continued) - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, -------------------------------------------- 2003 2004 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Montag & Caldwell Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 104.76 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Mutual Shares - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Global - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Opportunity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Small Cap - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/PIMCO Real Return - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Short Duration Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Small Company Index - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 118.42 $ 138.09 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 2 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/T. Rowe Price Growth Stock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 111.33 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Templeton Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/UBS Growth and Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 109.34 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Comstock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Emerging Markets Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 134.89 $ 165.33 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 2 2 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Mid Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Real Estate - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Aggressive Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 86.37 $ 96.18 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 49 50 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, ---------------------------------------------- 2005 2006 2007 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Montag & Caldwell Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 109.43 $ 117.07 $ 140.16 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Mutual Shares - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 107.25 $ 108.03 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Global - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 111.10 $ 116.38 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Opportunity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 95.45 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Small Cap - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 111.14 $ 108.19 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/PIMCO Real Return - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 99.64 $ 99.13 $ 109.51 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 7 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Short Duration Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 100.09 $ 103.12 $ 107.62 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Small Company Index - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 142.68 $ 166.44 $ 161.92 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 5 6 7 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/T. Rowe Price Growth Stock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 114.73 $ 109.14 $ 115.97 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 4 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Templeton Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- 107.73 $ 108.98 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/UBS Growth and Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 118.12 $ 133.62 $ 133.96 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Comstock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 104.60 $ 120.15 $ 116.08 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Emerging Markets Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 217.56 $ 295.50 $ 415.87 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 2 6 9 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Mid Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 124.11 $ 134.38 $ 163.01 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 3 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Real Estate - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 83.06 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 9 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Aggressive Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 103.39 $ 107.97 $ 119.48 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 54 53 52 - ------------------------------------------------------------------------------------------------------------------------------------
5
EQUI-VEST(SM) Modified TSA Froedtert Memorial Lutheran Hospital Unit values and number of units outstanding at year end for each variable investment option, except for those options offered for the first time on or after December 31, 2007 (continued) - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, ---------------------------------------------- 2003 2004 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Core Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 110.22 $ 113.47 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Health Care - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 100.74 $ 111.95 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager High Yield - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 130.87 $ 141.28 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 2 2 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager International Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 104.39 $ 121.98 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Core Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 97.48 $ 105.95 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 88.25 $ 93.28 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 103.20 $ 117.02 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Mid Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 86.54 $ 95.83 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 1 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Mid Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 103.15 $ 117.75 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 1 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Small Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 114.70 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Small Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 155.30 $ 180.23 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 2 4 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Technology - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 88.87 $ 92.46 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 4 - ------------------------------------------------------------------------------------------------------------------------------------ Target 2015 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Target 2025 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Target 2035 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Target 2045 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, --------------------------------------------- 2005 2006 2007 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Core Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 114.42 $ 117.67 $ 123.90 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 2 2 3 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Health Care - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 118.66 $ 123.63 $ 133.49 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 2 3 3 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager High Yield - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 144.66 $ 157.99 $ 161.88 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 4 4 5 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager International Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 139.55 $ 173.31 $ 193.09 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 2 4 5 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Core Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 112.07 $ 126.14 $ 131.25 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 99.37 $ 98.58 $ 108.68 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 2 -- 4 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 124.20 $ 146.87 $ 150.84 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 2 2 3 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Mid Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 102.93 $ 111.81 $ 123.99 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 3 3 4 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Mid Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 125.26 $ 142.42 $ 141.27 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 2 2 3 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Small Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 122.18 $ 133.44 $ 137.10 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 1 3 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Small Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 186.98 $ 215.15 $ 192.22 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 9 10 13 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Technology - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 101.96 $ 108.42 $ 127.01 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 6 6 6 - ------------------------------------------------------------------------------------------------------------------------------------ Target 2015 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 108.47 $ 115.27 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ Target 2025 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 109.42 $ 116.42 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Target 2035 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 110.31 $ 117.39 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ Target 2045 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 111.10 $ 118.69 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------
6 Because you are purchasing an annuity contract to fund a qualified employer sponsored retirement arrangement, you should be aware that such annuities do not provide tax deferral benefits beyond those already provided by the Internal Revenue Code. Before purchasing one of these annuities, you should consider whether its features and benefits beyond tax deferral meet your needs and goals. You may also want to consider the relative features, benefits and costs of these annuities with any other investment that you may use in connection with your retirement plan or arrangement. (For more information, see "Tax information," in the Prospectus). FOR USE ONLY WITH TSA CERTIFICATES/CONTRACTS OF FROEDTERT MEMORIAL LUTHERAN HOSPITAL MILWAUKEE, WISCONSIN EQUI-VEST(SM) is issued by and is a service mark of AXA Equitable Life Insurance Company (AXA Equitable). Co-distributed by affiliates, AXA Advisors, LLC and AXA Distributors, LLC. 1290 Avenue of the Americas, New York, NY 10104. Copyright 2008 AXA Equitable Life Insurance Company. All rights reserved. AXA Equitable Life Insurance Company 1290 Avenue of the Americas New York, NY 10104 212-554-1234 7 AXA Equitable Life Insurance Company SUPPLEMENT DATED MAY 1, 2008 TO EQUI-VEST(SM) EMPLOYER-SPONSORED RETIREMENT PROGRAMS PROSPECTUS DATED MAY 1, 2008 - -------------------------------------------------------------------------------- This Supplement modifies certain information in the above-referenced prospectus or supplement to prospectus dated May 1, 2008 (together, the "Prospectus") for EQUI-VEST(SM) employer-sponsored retirement programs deferred variable annuity contracts offered by AXA Equitable Life Insurance Company ("AXA Equitable"). AXA Equitable offers a modified version of its EQUI-VEST(SM) Series 200 TSA contracts (the "Modified TSA Agreement") only to participants in qualifying retirement programs of certain nonprofit healthcare organizations. This Supplement describes the material differences between the Modified TSA Agreement and the EQUI-VEST(SM) Series 200 TSA contract described in the Prospectus. Terms in this Supplement have the same meaning as in the Prospectus. Material differences between the Modified TSA Agreement and the TSA provisions described in the EQUI-VEST(SM) Prospectus include the following: o WITHDRAWAL CHARGE. The withdrawal charge schedule for the Modified TSA Agreement is as follows:
- --------------------------------------------------------- Contract Year(s) Withdrawal Charge - --------------------------------------------------------- 1 6% 2 5 3 4 4 3 5 2 6+ 0 - ---------------------------------------------------------
This table replaces the EQUI-VEST(SM) Series 200 withdrawal charge table in "Withdrawal charge for series 100 and 200 contracts" under the heading "For SEP, SARSEP, TSA, EDC and Annuitant-Owned HR-10 contracts" in "Charges and expenses." o EXCEPTIONS TO THE WITHDRAWAL CHARGE. For the modified TSA Agreement, the withdrawal charge section in "Charges and expenses" has been revised to add the following waivers: No charge will be applied to any amount withdrawn from the Modified TSA Agreement if: -- The annuitant has separated from service, or -- The annuitant makes a withdrawal at any time and qualifies to receive Social Security disability benefits as certified by the Social Security Administration or any successor agency, or -- The annuitant makes a withdrawal that qualifies as a hardship withdrawal under the Plan and the Code. o ANNUAL ADMINISTRATIVE CHARGE. The annual administrative charge for participants under the Modified TSA Agreement is at maximum the charge described in the Prospectus -- that is, it is equal to the lesser of $30 or 2% of the account value on the last business day of each year (adjusted to include any withdrawals made during the year), to be prorated for a fractional year. This charge may be reduced or waived when a Modified TSA Agreement is used by the employer and the required participant services are performed at a modified or minimum level. Because you are purchasing an annuity contract to fund a qualified employer sponsored retirement arrangement, you should be aware that such annuities do not provide tax deferral benefits beyond those already provided by the Internal Revenue Code. Before purchasing one of these annuities, you should consider whether its features and benefits beyond tax deferral meet your needs and goals. You may also want to consider the relative features, benefits and costs of these annuities with any other investment that you may use in connection with your retirement plan or arrangement. (For more information, see "Tax information," in the Prospectus). FOR USE ONLY IN THE STATE OF ILLINOIS EQUI-VEST(SM) is issued by and is a service mark of AXA Equitable Life Insurance Company (AXA Equitable). Co-distributed by affiliates, AXA Advisors, LLC and AXA Distributors, LLC. 1290 Avenue of the Americas, New York, NY 10104. Copyright 2008 AXA Equitable Life Insurance Company. All rights reserved. AXA Equitable Life Insurance Company 1290 Avenue of the Americas New York, NY 10104 212-554-1234 x02012 AXA Equitable Life Insurance Company SUPPLEMENT DATED MAY 1, 2008 TO EQUI-VEST(SM) EMPLOYER-SPONSORED RETIREMENT PROGRAMS PROSPECTUS DATED MAY 1, 2008 - -------------------------------------------------------------------------------- This Supplement modifies certain information in the prospectus or supplement to prospectus dated May 1, 2008 (the "Prospectus") for EQUI-VEST(SM) Employer-Sponsored Retirement Programs deferred variable annuity contracts offered by AXA Equitable Life Insurance Company ("AXA Equitable"). AXA Equitable will offer its EQUI-VEST(SM) Series 200 TSA contracts modified with Rider 95MDHOSP (the "Modified TSA Contract") only to employees (age 75 and below) of hospitals and non-profit healthcare organizations doing business in Maryland. This Supplement describes the material differences between the Modified TSA Contract and the EQUI-VEST(SM) Series 200 TSA contract described in the Prospectus. Terms in this Supplement have the same meaning as in the Prospectus. Material differences between the Modified TSA Contract and the TSA provisions described in the EQUI-VEST(SM) Prospectus include the following: o WITHDRAWAL CHARGE. The withdrawal charge schedule for the Modified TSA Contract is as follows:
- ------------------------------------------------------------------- Contract Year(s) Withdrawal Charge - ------------------------------------------------------------------- 1 6% 2 5 3 4 4 3 5 2 6+ 0 - -------------------------------------------------------------------
This table replaces the EQUI-VEST(SM) Series 200 Withdrawal Charge table in "Withdrawal charge for series 100 and 200 contracts" under the heading "For SEP, SARSEP, TSA, EDC and Annuitant-Owned HR-10 contracts" in "Charges and expenses" in the Prospectus. o EXCEPTIONS TO THE WITHDRAWAL CHARGE. For the modified TSA Contract, the withdrawal charge section in "Charges and expenses" has been revised as follows: No charge will be applied to any amount withdrawn from the TSA Contract if: -- the annuitant has separated from service, or -- the annuitant makes a withdrawal that qualifies as a hardship withdrawal under the Plan and the Code, or -- the annuitant makes a withdrawal at any time and qualifies to receive Social Security disability benefits as certified by the Social Security Administration or any successor agency or -- the annuitant withdraws funds that were transferred on or after January 18, 1996 into the Modified TSA Contract from another tax sheltered annuity contract qualified under Section 403(b) of the Code and issued by an insurance company other than AXA Equitable. o ANNUAL ADMINISTRATIVE CHARGE. The annual administrative charge is waived; therefore, all references in the Prospectus to "annual administrative charge" or "administrative charge" are deleted in their entirety. Because you are purchasing an annuity contract as a Tax Sheltered Annuity (TSA), you should be aware that such annuities do not provide tax deferral benefits beyond those already provided by the Internal Revenue Code. Before purchasing one of these annuities, you should consider whether its features and benefits beyond tax deferral meet your needs and goals. You may also want to consider the relative features, benefits and costs of these annuities with any other investment that you may use in connection with your retirement plan or arrangement. (For more information, see "Tax information" in the Prospectus.) o LOANS. Loans will be available under the Modified TSA Contract when the TSA plan is subject to the Employee Retirement Income Security Act of 1974 (ERISA). Only one outstanding loan will be permitted at any time. There is a minimum loan amount of $1,000 and a maximum loan amount which varies depending on the participant's account value but may never exceed $50,000. For more complete details and rules on Loans, see "Loans from qualified plans and TSAs" under "Tax information" in the Prospectus. FOR USE ONLY IN THE STATE OF MARYLAND EQUI-VEST(SM) is issued by and is a service mark of AXA Equitable Life Insurance Company (AXA Equitable). Co-distributed by affiliates, AXA Advisors, LLC and AXA Distributors, LLC. 1290 Avenue of the Americas, New York, NY 10104. Copyright 2008 AXA Equitable Life Insurance Company. All rights reserved. AXA Equitable Life Insurance Company 1290 Avenue of the Americas New York, NY 10104 212-554-1234 x02013 EQUI-VEST(SM) Employer-Sponsored Retirement Programs SUPPLEMENT DATED MAY 1, 2008 TO THE EQUI-VEST(SM) EMPLOYER-SPONSORED RETIREMENT PROGRAMS PROSPECTUS DATED MAY 1, 2008 EQUI-VEST(SM) Vantage(SM) Additional Contributions Tax-Sheltered (ACTS) Program, New Jersey Department of Higher Education - -------------------------------------------------------------------------------- This Supplement adds to and modifies certain information contained in the Prospectus dated May 1, 2008, for the EQUI-VEST(SM) Employer-Sponsored Retirement Programs offered by AXA Equitable Life Insurance Company ("Prospectus"). Unless otherwise indicated, all other information included in the Prospectus remains unchanged. The terms and section headings we use in this Supplement have the same meaning as in the Prospectus. You should keep this Supplement with your prospectus. We will send you another copy of any prospectus or supplement, without charge, upon request. We offer the EQUI-VEST(SM) Vantage(SM) contract to fund the ACTS Program ("the plan"). The EQUI-VEST(SM) Vantage(SM) ACTS contract is a group variable deferred annuity contract. The employer will be the EQUI-VEST(SM) Vantage(SM) ACTS contract holder. Certain rights may be exercised by employees covered under an employer`s plan (the "participants"). These rights will be set forth in a participation certificate provided to each participant. The 12-month period beginning on the participant`s participation date and each 12-month period thereafter is a "participation year." The "participation date" is the date we receive a participant`s properly completed and signed enrollment form and any other required documents at our processing office. "Contract date" is the date following our acceptance of a properly completed and signed application (and other required documents) on which the first participant is enrolled in the contract. The 12-month period beginning on a contract date and each 12-month period after that is a "contract year." The end of each 12-month period is the "contract anniversary." Terms and other provisions not defined or modified in this Supplement are the same as in the Prospectus.1 The group annuity contract that covers the qualified plan in which you participate is not an investment advisory account, and AXA Equitable is not providing any investment advice or managing the allocations under this contract. In the absence of a specific written arrangement to the contrary, you, as the participant under this contract, have the sole authority to make investment allocations and other decisions under the contract. Your AXA Advisors financial professional is acting as a broker-dealer registered representative, and is not authorized to act as an investment advisor or to manage the allocations under your contract. If your financial professional is a registered representative with a broker-dealer other than AXA Advisors, you should speak with him/her regarding any different arrangements that may apply. We offer the EQUI-VEST(SM) Vantage(SM) ACTS contract to purchasers on the same basis and under the same terms and conditions described in the Prospectus as those that apply to EQUI-VEST(SM) Series 100 and 200 contracts, except for certain material differences described in this Supplement. This Supplement should be read together with the Prospectus. You should be aware that an annuity contract that is a Tax Sheltered Annuity (TSA), such as the EQUI-VEST(SM) Vantage(SM) ACTS, does not provide tax deferral benefits beyond those already provided by the Internal Revenue Code. Before participating in an EQUI-VEST(SM) Vantage(SM) ACTS, you should consider whether its features and benefits beyond tax deferral meet your needs and goals. You may also want to consider the relative features, benefits and costs of this annuity with any other investment that you may use in connection with your retirement plan or arrangement. (For more information, see "Tax information," in the Prospectus). ---------- See "Tax information" in the Prospectus for a more detailed discussion of sources of contributions, certain contribution limitations and other tax information for TSA contracts. Material differences between EQUI-VEST(SM) Vantage(SM) ACTS and the provisions of the EQUI-VEST(SM) Series 100 and 200 contracts described in the Prospectus include the information above as well as the following: - ------- 1 This Supplement distinguishes between "contract" and "participation certificate" as well as "contract holder" and "participant" when describing the EQUI-VEST(SM) Vantage(SM) ACTS product. The Prospectus does not make these distinctions and generally uses the terms "you" and "your" when referring to the person who has the right or responsibility that the Prospectus is discussing at that point, and to "contract" when referring to the participation certificate or contract that includes the right being discussed. For use with the Additional Contributions Tax-Sheltered Program X02014 888-1353 (5/08) Catalog Number 133282 (5/08) 1. THE FOLLOWING IS ADDED TO "EQUI-VEST(SM) EMPLOYER-SPONSORED RETIREMENT PROGRAMS AT A 1. GLANCE -- KEY FEATURES" UNDER "FEES AND CHARGES" IN THE PROSPECTUS:
- ------------------------------------------------------------------------------------------------------------------------ FEES AND CHARGES FOR EQUI-VEST(SM) VANTAGE(SM) o Separate account charge deducted daily on amounts invested in variable investment ACTS options: 0.70%. o Annual administrative charge: There is no annual administrative charge. o Charge for third-party transfer (such as in the case of a direct plan-to-plan transfer of the account value or a contract exchange under the same 403(b) plan to an employer-designated funding vehicle or a direct rollover to another eligible retirement plan: $25 current ($65 maximum) per occurrence per participant. o No sales charge deducted at the time contributions are made. o Withdrawal charge: There is no withdrawal charge. o Annual expenses of EQ Advisors Trust and AXA Premier VIP Trust (the "Trusts") portfolios are calculated as a percentage of the average daily net assets invested in each portfolio. Please see "Fee table" later in this prospectus. - ------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------- 2. PORTFOLIOS OF THE TRUSTS The AXA Allocation Portfolios and the EQ/Franklin Templeton Founding Strategy Portfolio offer contract owners a convenient opportunity to invest in other portfolios that are managed and have been selected for inclusion in the AXA Allocation Portfolios and the EQ/Franklin Templeton Founding Strategy Portfolio by AXA Equitable. AXA Advisors, LLC, an affiliated broker-dealer of AXA Equitable, may promote the benefits of such portfolios to contract owners and/or suggest, incidental to the sale of this contract, that contract owners consider whether allocating some or all of their account value to such portfolios is consistent with their desired investment objectives. In doing so, AXA Equitable, and/or its affiliates, may be subject to conflicts of interest insofar as AXA Equitable may derive greater revenues from the AXA Allocation Portfolios and the EQ/Franklin Templeton Founding Strategy Portfolio than certain other portfolios available to you under your contract. In addition, due to the relative diversification of the underlying portfolios covering various asset classes and categories, the AXA Allocation Portfolios and the EQ/Franklin Templeton Founding Strategy Portfolio may enable AXA Equitable to more efficiently manage AXA Equitable's financial risks associated with certain guaranteed features. Please see "Allocating your contributions" later in this section for more information about your role in managing your allocations. AXA Equitable serves as the investment manager of the portfolios of AXA Premier VIP Trust and EQ Advisors Trust. For some portfolios, AXA Equitable has entered into sub-advisory agreements with investment advisers (the "sub-advisers") to carry out the day-to-day investment decisions for the portfolios. As such, AXA Equitable oversees the activities of the sub-advisers with respect to the Trusts and is responsible for retaining or discontinuing the services of those sub-advisers. The chart below indicates the objective and investment manager or sub-adviser(s), as applicable, for each portfolio.
- ------------------------------------------------------------------------------------------------------------------------------------ AXA Premier VIP Trust Investment Manager (or Sub-Adviser(s), as Portfolio Name Objective applicable) - ------------------------------------------------------------------------------------------------------------------------------------ AXA MODERATE ALLOCATION Seeks long-term capital appreciation and current income. o AXA Equitable - ------------------------------------------------------------------------------------------------------------------------------------ EQ Advisors Trust Investment Manager (or Sub-Adviser(s), as Portfolio Name Objective applicable) - ------------------------------------------------------------------------------------------------------------------------------------ EQ/ALLIANCEBERNSTEIN Seeks to achieve long-term growth of capital. o AllianceBernstein L.P. COMMON STOCK - ------------------------------------------------------------------------------------------------------------------------------------ EQ/ALLIANCEBERNSTEIN VALUE Seeks to achieve capital appreciation. o AllianceBernstein L.P. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/BLACKROCK INTERNATIONAL Seeks to provide current income and long-term growth of o BlackRock Investment Management VALUE income, accompanied by growth of capital. International Limited - ------------------------------------------------------------------------------------------------------------------------------------ EQ/CALVERT SOCIALLY Seeks to achieve long-term capital appreciation. o Calvert Asset Management Company, Inc. RESPONSIBLE o Bridgeway Capital Management, Inc. - ------------------------------------------------------------------------------------------------------------------------------------
2
- ------------------------------------------------------------------------------------------------------------------------------------ EQ Advisors Trust Investment Manager (or Sub-Adviser(s), as Portfolio Name Objective applicable) - ------------------------------------------------------------------------------------------------------------------------------------ EQ/EQUITY 500 INDEX Seeks to achieve a total return before expenses that o AllianceBernstein L.P. approximates the total return performance of the S&P 500 Index, including reinvestment of dividends, at a risk level consistent with that of the S&P 500 Index. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/FI MID CAP Seeks to achieve long-term growth of capital. o Fidelity Management & Research Company - ------------------------------------------------------------------------------------------------------------------------------------ EQ/JPMORGAN CORE BOND Seeks to provide a high total return consistent with o JPMorgan Investment Management Inc. moderate risk to capital and maintenance of liquidity. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/MONEY MARKET Seeks to obtain a high level of current income, preserve its o The Dreyfus Corporation assets and maintain liquidity. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/SMALL COMPANY INDEX Seeks to replicate as closely as possible (before the o AllianceBernstein L.P. deduction of Portfolio expenses) the total return of the Russell 2000 Index. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/T. ROWE PRICE GROWTH Seeks to achieve long-term capital appreciation and o T. Rowe Price Associates, Inc. STOCK secondarily, income. - ------------------------------------------------------------------------------------------------------------------------------------
You should consider the investment objectives, risks and charges and expenses of the portfolios carefully before investing. The prospectuses for the Trusts contain this and other important information about the portfolios. The prospectuses should be read carefully before investing. 3. THE FOLLOWING TABLE AND EXAMPLE ARE ADDED BEFORE "CONDENSED FINANCIAL INFORMATION" IN "FEE TABLE" IN THE PROSPECTUS: FEE TABLE The following tables describe the fees and expenses that you will pay when buying, owning, and surrendering the EQUI-VEST(SM) Vantage(SM) ACTS certificate. Each of the charges and expenses is more fully described in "Charges and expenses" later in this Supplement. The first table describes fees and expenses that you will pay at the time that you surrender the certificate, purchase a Variable Immediate Annuity payout option or make certain transfers and rollovers. Charges for certain features shown in the fee table are mutually exclusive.
- ------------------------------------------------------------------------------------------------------------------------------------ Charges we deduct from your account value at the time you request certain transactions - ------------------------------------------------------------------------------------------------------------------------------------ Withdrawal charge as a percentage of the amount withdrawn (deducted when you surrender your certificate or make certain withdrawals) 0% Charge if you elect a Variable Immediate Annuity payout option (which is described in a separate prospectus for that option) $350 Charge for third-party transfer or direct rollover $65 maximum per participant for each occurrence; currently $25 per participant for each occurrence. The next table describes the fees and expenses that you will pay periodically during the time that you own the certificate, not including underlying trust portfolio fees and expenses. - ------------------------------------------------------------------------------------------------------------------------------------ Charges we deduct from your account value on each contract date anniversary - ------------------------------------------------------------------------------------------------------------------------------------ Maximum annual administrative charge $0 - ------------------------------------------------------------------------------------------------------------------------------------ Charges we deduct from your variable investment options expressed as an annual percentage of daily net assets - ------------------------------------------------------------------------------------------------------------------------------------ Separate account annual expenses(1) 0.70% - ------------------------------------------------------------------------------------------------------------------------------------
You also bear your proportionate share of all fees and expenses paid by a "portfolio" that corresponds to any variable investment option you are using. This table shows the lowest and highest total operating expenses charged by any of the portfolios that you will pay periodically during the time that you own the certificate. These fees and expenses are reflected in the portfolio's net asset value each day. Therefore, they reduce the investment return of the portfolio and the related variable investment option. Actual fees and expenses are likely to fluctuate from year to year. More detail concerning each portfolio's fees and expenses is contained in the Trust prospectus for the portfolio. 3
- ------------------------------------------------------------------------------------------------------------------------------------ Portfolio operating expenses expressed as an annual percentage of daily net assets - ------------------------------------------------------------------------------------------------------------------------------------ Total Annual Portfolio Operating Expenses for 2007 (expenses that are deducted Lowest Highest from portfolio assets including management fees, 12b-1 fees, service fees, and/or ------ ------- other expenses)(2) 0.63% 1.34%
This table shows the fees and expenses for 2007 as an annual percentage of each portfolio's daily average net assets.
- ------------------------------------------------------------------------------------------------------------------------------------ Acquired Fund Total Annual Net Fees and Expenses Annual Expenses (Before Fee Waivers Expenses Management Other (Underlying Expense and/or Expense (After Expense Portfolio Name Fees(2) 12b-1 Fees(3) Expenses(4) Portfolios)(5) Limitations) Reimbursements(6) Limitations) - ------------------------------------------------------------------------------------------------------------------------------------ AXA Premier VIP Trust: - ------------------------------------------------------------------------------------------------------------------------------------ AXA Moderate Allocation 0.10% 0.25% 0.17% 0.82% 1.34% (0.17)% 1.17% - ------------------------------------------------------------------------------------------------------------------------------------ EQ Advisors Trust: - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Common Stock 0.47% 0.25% 0.13% -- 0.85% -- 0.85% EQ/AllianceBernstein Value 0.59% 0.25% 0.12% -- 0.96% (0.01)% 0.95% EQ/Blackrock International Value 0.81% 0.25% 0.19% -- 1.25% 0.00% 1.25% EQ/Calvert Socially Responsible 0.65% 0.25% 0.23% -- 1.13% (0.08)% 1.05% EQ/Equity 500 Index 0.25% 0.25% 0.13% -- 0.63% -- 0.63% EQ/FI Mid Cap 0.68% 0.25% 0.13% -- 1.06% (0.06)% 1.00% EQ/JPMorgan Core Bond 0.43% 0.25% 0.13% -- 0.81% 0.00% 0.81% EQ/Money Market 0.32% 0.25% 0.13% -- 0.70% -- 0.70% EQ/Small Company Index 0.25% 0.25% 0.14% -- 0.64% 0.00% 0.64% EQ/T. Rowe Price Growth Stock 0.79% 0.25% 0.14% -- 1.18% (0.03)% 1.15% - ------------------------------------------------------------------------------------------------------------------------------------
Notes: (1) For mortality and expense risks, and administrative and financial accounting expenses. A portion of this charge is for providing the death benefit. (2) The management fees for each portfolio cannot be increased without a vote of that portfolio's shareholders. See footnote (6) for any expense limitation agreement information. (3) Portfolio shares are all subject to fees imposed under the distribution plans (the "Rule 12b-1 Plan") adopted by the Trusts pursuant to Rule 12b-1 under the Investment Company Act of 1940. (4) The amounts shown as "Other Expenses" will fluctuate from year to year depending on actual expenses. See footnote (6) for any expense limitation agreement information. (5) Each of these variable investment options invests in a corresponding portfolio of one of the Trusts or other unaffiliated investment companies. Each portfolio, in turn, invests in shares of other portfolios of the Trusts and/or shares of unaffiliated portfolios ("underlying portfolios"). Amounts shown reflect each portfolio's pro rata share of the fees and expenses of the underlying portfolio(s) in which it invests. A "--" indicates that the listed portfolio does not invest in underlying portfolios. (6) The amounts shown reflect any fee waivers and/or expense reimbursements that apply to each portfolio. A"-" indicates that there is no expense limitation in effect, and "0.00%" indicates that the expense limitation arrangement did not result in a fee waiver or reimbursement. AXA Equitable, the investment manager of AXA Premier VIP Trust and EQ Advisors Trust, has entered into expense limitation agreements with respect to certain portfolios, which are effective through April 30, 2009 (unless the Board of Trustees of AXA Premier VIP Trust or EQ Advisors Trust, as applicable, consents to an earlier revision or termination of this arrangement). Under these agreements AXA Equitable has agreed to waive or limit its fees and assume other expenses of certain portfolios, if necessary, in an amount that limits each affected portfolio's total Annual Expenses (exclusive of interest, taxes, brokerage commissions, capitalized expenditures, expenses of the underlying portfolios in which the portfolio invests and extraordinary expenses) to not more than the amounts specified in the agreements. Therefore, each portfolio may at a later date make a reimbursement to AXA Equitable for any of the management fee waived or limited and other expenses assumed and paid by AXA Equitable pursuant to the expense limitation agreements provided that the portfolio's current annual operating expenses do not exceed the operating expense limit determined for such portfolio. See the prospectus for each applicable underlying Trust for more information about the arrangements. In addition, a portion of the brokerage commissions of certain portfolios of AXA Premier VIP Trust and EQ Advisors Trust is used to reduce the applicable portfolio's expenses. If the above table reflected both the expense limitation arrangements plus the portion of the brokerage commissions used to reduce portfolio expenses, the net expenses would be as shown in the table below.
----------------------------------------- Portfolio Name ----------------------------------------- EQ/AllianceBernstein Common Stock 0.84% ----------------------------------------- EQ/AllianceBernstein Value 0.87% ----------------------------------------- EQ/T. Rowe Price Growth Stock 0.87% -----------------------------------------
EXAMPLES: EQUI-VEST(SM) VANTAGE(SM) ACTS CONTRACTS These examples are intended to help you compare the cost of investing in the EQUI-VEST(SM) Vantage(SM) ACTS contract with the cost of investing in other variable annuity contracts. These costs include contract owner transaction expenses, contract fees, separate account annual expenses, and underlying Trust fees and expenses (including underlying portfolio fees and expenses). The examples below show the expenses that a hypothetical certificate holder would pay in the situations illustrated. We assume that the Contract Year and Participation Year are the same. For a complete description of portfolio charges and expenses, please see the prospectuses for each Trust. 4 The fixed maturity options and the guaranteed interest option are not covered by the fee table and examples. However, the third-party transfer or direct rollover charge and the charge if you elect a Variable Immediate Annuity payout option do apply to amounts in the fixed maturity options and the guaranteed interest option. A market value adjustment (up or down) will apply as a result of a withdrawal, transfer, or surrender of amounts from a fixed maturity option. These examples should not be considered a representation of past or future expenses for any option. 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. The examples assume that you invest $10,000 in the contract for the time periods indicated. The examples also assume that your investment has a 5% return each year. Although your actual costs may be higher or lower, based on these assumptions, your costs would be:
If you surrender or do not surrender your contract at If you annuitize at the end of the the end of the applicable time period applicable time period - -------------------------------------------------------------------------------------------------------------------------- 1 year 3 years 5 years 10 years 1 year 3 years 5 years 10 years - -------------------------------------------------------------------------------------------------------------------------- AXA PREMIER VIP TRUST: - -------------------------------------------------------------------------------------------------------------------------- AXA Moderate Allocation N/A $1,011 $1,484 $2,790 $214 $661 $1,134 $2,440 - -------------------------------------------------------------------------------------------------------------------------- EQ ADVISORS TRUST: - -------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock N/A $ 855 $1,221 $2,248 $163 $505 $ 871 $1,898 EQ/AllianceBernstein Value N/A $ 890 $1,280 $2,372 $174 $540 $ 930 $2,022 EQ/BlackRock International Value N/A $ 983 $1,436 $2,692 $205 $633 $1,086 $2,342 EQ/Calvert Socially Responsible N/A $ 944 $1,372 $2,561 $192 $594 $1,022 $2,211 EQ/Equity 500 Index N/A $ 784 $1,100 $1,996 $140 $434 $ 750 $1,646 EQ/FI Mid Cap N/A $ 922 $1,334 $2,483 $185 $572 $ 984 $2,133 EQ/JPMorgan Core Bond N/A $ 842 $1,199 $2,203 $159 $492 $ 849 $1,853 EQ/Money Market N/A $ 807 $1,139 $2,077 $147 $457 $ 789 $1,727 EQ/Small Company Index N/A $ 787 $1,106 $2,008 $141 $437 $ 756 $1,658 EQ/T. Rowe Price Growth Stock N/A $ 960 $1,399 $2,616 $197 $610 $1,049 $2,266 - --------------------------------------------------------------------------------------------------------------------------
CONDENSED FINANCIAL INFORMATION Please see the Appendix at the end of this Supplement for the unit values and number of units outstanding as of the period shown for each of the variable investment options, available as of December 31, 2007. 4. THE FOLLOWING INFORMATION IS ADDED TO THE CHART IN THE SECTION ENTITLED "HOW YOU CAN PURCHASE AND CONTRIBUTE TO YOUR CONTRACT" IN "CONTRACT FEATURES AND BENEFITS" IN THE PROSPECTUS:
- ------------------------------------------------------------------------------------------------------------------------------------ Contract type Source of contributions Limitations on contributions - ------------------------------------------------------------------------------------------------------------------------------------ EQUI-VEST(SM) o Salary Reduction Contributions (Elective Deferral o For 2008, maximum amount of employer and Vantage(SM) ACTS Contributions): Contributions under a salary reduction employee contributions is generally the lesser agreement that an employee enters into with the Employer of $46,000 or 100% of compensation with maximum under the Plan, including "designated Roth contributions salary reduction contribution of $15,500. under Section 402A of the Code. o If your employer`s plan permits and you are at o Rollover Contributions: Contributions of eligible least age 50 at any time during 2008, additional rollover distributions directly or indirectly from another salary reduction "catch-up" contributions eligible retirement arrangement. totalling up to $5,000 can be made. o Direct Transfer Contributions: Amounts directly o All salary reduction contributions (whether transferred (either a plan-to-plan direct transfer or a pre-tax or designated Roth) may not exceed the contract exchange under the same 403(b) plan). total maximum for the year (for 2008, $15,500 and age 50 catch-up of $ 5,000). o Additional "catch-up" contributions. o Rollover or direct transfer contributions after age 70-1/2 must be net of required minimum distributions. o We currently do not accept rollovers or direct transfers of funds from designated Roth accounts. o Different sources of contributions and earnings may be subject to withdrawal restrictions.
5 5. THE LAST SENTENCE OF THE SECOND PARAGRAPH FOLLOWING THE CHART UNDER "HOW YOU CAN PURCHASE AND CONTRIBUTE TO YOUR CONTRACT" IN "CONTRACT FEATURES AND BENEFITS" IN THE PROSPECTUS IS REPLACED IN ITS ENTIRETY BY THE FOLLOWING: We may also refuse to accept any contribution if the sum of all contributions under all AXA Equitable accumulation annuities in which a participant has an interest would then total more than $2,500,000. 6. THE FIRST PARAGRAPH UNDER "OWNER AND ANNUITANT REQUIREMENTS" IN "CONTRACT FEATURES AND BENEFITS" IN THE PROSPECTUS IS REPLACED IN ITS ENTIRETY BY THE FOLLOWING: For the following employer-funded programs, the employee must be the owner on the contract: SEP-IRA, SARSEP IRA, SIMPLE IRA, TSA, University TSA (other than EQUI-VEST(SM) Vantage(SM) ACTS contracts) and Annuitant-Owned HR-10. 7. THE FINAL PARAGRAPH UNDER "GUARANTEED INTEREST OPTION," IN "CONTRACT FEATURES AND BENEFITS" IN THE PROSPECTUS IS DELETED IN ITS ENTIRETY AND REPLACED WITH THE FOLLOWING PARAGRAPH: The minimum yearly guaranteed interest rate for 2008 is equal to 2.75%. Your lifetime minimum guaranteed interest rate is 1.5%. The minimum yearly guaranteed interest rate will never be less than the lifetime minimum guaranteed interest rate. Current rates will never be less than the minimum yearly guaranteed interest rate. 8. THE SECTION "SELECTING YOUR INVESTMENT METHOD" IN "CONTRACT FEATURES AND BENEFITS" IN THE PROSPECTUS DOES NOT APPLY TO EQUI-VEST(SM) VANTAGE(SM) ACTS AND IS DELETED IN ITS ENTIRETY. A NEW SECTION IS ADDED AS FOLLOWS: TEMPORARY REMOVAL OF TRANSFER RESTRICTIONS From time to time, we may remove certain restrictions that apply. If we do so, we will tell you. We will also tell you at least 45 days in advance of the day that we intend to reimpose the transfer restrictions. 9. THE SEVENTH BULLET UNDER "TRANSFERRING YOUR ACCOUNT VALUE" IN "TRANSFERRING YOUR MONEY AMONG INVESTMENT OPTIONS" IN THE PROSPECTUS IS DELETED IN ITS ENTIRETY AND REPLACED WITH THE FOLLOWING: o The maximum amount that may be transferred from the guaranteed interest option to any investment option in any participation year is the greatest of: (a) 25% of the amount you have in the guaranteed interest option on the last day of the prior participation year; or (b) the sum of the total of all amounts transferred at your request from the guaranteed interest option to any of the investment options plus amounts withdrawn from the contract in the prior participation year (including any amounts withdrawn for a plan-to-plan direct transfer or a contract exchange under the same plan, but not including any amounts that were withdrawn as a result of a distributable event as set forth in the contract); or (c) 25% of amounts transferred or allocated to the guaranteed interest option during the current participation year. These limitations are more fully described in your participation certificate. o We reserve the right to not permit transfers into the guaranteed interest option in the first participation year. After the first participation year, we also reserve the right to prohibit a transfer into the guaranteed interest option if such transfer would result in more than 25% of the annuity account value being allocated to the guaranteed interest option, based on the annuity account value as of the previous business day. 10. A NEW SUBSECTION IS ADDED IMMEDIATELY AFTER THE CHART UNDER "WITHDRAWING YOUR ACCOUNT VALUE" IN "ACCESSING YOUR MONEY" IN THE PROSPECTUS AS FOLLOWS: RESTRICTIONS ON WITHDRAWALS FROM THE GUARANTEED INTEREST OPTION: The maximum amount that may be withdrawn from the guaranteed interest option in any participation year is the greatest of: (a) 25% of the amount you have in the guaranteed interest option on the last day of the prior participation year; or 6 (b) the sum of the total of all amounts transferred at your request from the guaranteed interest option to any of the investment options plus amounts withdrawn from your account balance under the contract in the prior participation year (including any amounts withdrawn for a plan-to-plan direct transfer or a contract exchange under the same plan, but not including any amounts that were withdrawn as a result of a distributable event as set forth in the contract); or (c) 25% of amounts transferred or allocated to the guaranteed interest option during the current participation year. These limitations are more fully described in your participation certificate. 11. THE FOLLOWING IS ADDED AS THE LAST SENTENCE OF THE FIRST PARAGRAPH UNDER "LOANS UNDER TSA, GOVERNMENTAL EMPLOYER EDC AND CORPORATE TRUSTEED CONTRACTS" IN "ACCESSING YOUR MONEY" IN THE PROSPECTUS: Any participant loan requests require contract holder approval. 12. THE FOLLOWING IS ADDED AFTER THE SECTION ENTITLED "TERMINATION" IN "ACCESSING YOUR MONEY" IN THE PROSPECTUS: EQUI-VEST(SM) VANTAGE(SM) ACTS TERMINATION OF PARTICIPATION We may terminate the participant`s participation under the EQUI-VEST(SM) Vantage(SM) ACTS contract and pay that participant the account value under the certificate if: (1) the account value under the certificate is less than $500 and that participant has not made contributions under the certificate for a period of three years; (2) a participant requests a partial withdrawal that reduces the account value under the certificate to an amount of less than $500; (3) a participant has not made any contributions under the certificate within 120 days from his or her participation date; or (4) the plan is no longer qualified under Section 403(b) of the Code and the EQUI-VEST(SM) Vantage(SM) ACTS contract is terminated by us. We will deduct the amount of any outstanding loan balance from the account value when we terminate a participant`s participation under the contract. The contract holder may discontinue an EQUI-VEST(SM) Vantage(SM) ACTS contract. Discontinuance of a contract means that the contract holder will not permit any further salary deferrals to be made under the contract. If and as permitted by the plan, and subject to the annual withdrawal restriction from the guaranteed interest option, the participant may withdraw any portion of the account value under the certificate and: (i) transfer, exchange or directly roll over such amounts to the employer-designated funding vehicle; (ii) directly roll over such amounts to another eligible retirement plan; (iii) retain such amounts, if permitted under federal tax law; or (iv) maintain such account value with us. An EQUI-VEST(SM) Vantage(SM) ACTS contract may be terminated only after all participation under the contract is terminated. 13. THE FOLLOWING IS ADDED AFTER THE INFORMATION UNDER "FOR ALL SERIES ISSUED IN NEW YORK -- FIXED MATURITY OPTIONS*" IN "CHARGES AND EXPENSES" IN THE PROSPECTUS: CHARGES UNDER EQUI-VEST(SM) VANTAGE(SM) ACTS CONTRACTS CHARGE AGAINST THE SEPARATE ACCOUNT We deduct this charge against the assets in the separate account to compensate us for mortality and expense risks, as well as administrative and financial accounting expenses under the contract. The charge is deducted daily at an annual rate of 0.70% of daily net assets attributable to all certificates under the group contract. The mortality risk we assume is the risk that participants as a group will live for a longer time than our actuarial tables predict. If that happens, we would be paying more in annuity benefits than we planned. We assume a mortality risk to the extent that at the time of death, the guaranteed death benefit exceeds the cash value of the contract. The expense risk we assume is the risk that it will cost us more to issue and administer the certificates than we expect. To the extent that the mortality and expense risk charges are not needed to cover the actual expenses incurred, they may be considered an indirect reimbursement for certain sales and promotional expenses relating to the certificates. A participant`s participation certificate will set forth the applicable separate account charge. We will determine the separate account charge pursuant to our established actuarial procedures, and will not discriminate unreasonably or unfairly against participants under any EQUI-VEST(SM) Vantage(SM) ACTS contracts. 7 CHARGE FOR THIRD-PARTY TRANSFER OR ROLLOVER We deduct a charge for third-party transfer (such as in the case of (i) a direct plan-to-plan transfer of the account value or a contract exchange under the same 403(b) plan to another employer-designated funding vehicle or (ii) a direct rollover to another eligible retirement plan. This charge is currently $25 ($65 maximum) per occurrence per participant. 14. THE SECOND PARAGRAPH IN "DISTRIBUTIONS FROM QUALIFIED PLANS AND TSAS" UNDER "WITHDRAWAL RESTRICTIONS" IN "TAX INFORMATION" IN THE PROSPECTUS IS AMENDED IN THE FOLLOWING MANNER: The phrase in the first sentence of the paragraph "or to your account balance attributable to employer contributions" is deleted in its entirety. 8 Appendix I: Condensed financial information - -------------------------------------------------------------------------------- The following tables show the accumulation unit values and the number of outstanding units for each variable investment option under each contract series at the last business day of the periods shown. The unit values and number of units outstanding are for contracts offered under Separate Account A with the same daily asset charge of 0.70%. The information presented is shown for the past ten years, or from the first year the particular contracts were offered if less than ten years ago. EQUI-VEST(SM) Vantage(SM) ACTS contracts THE UNIT VALUES AND NUMBERS OF UNITS OUTSTANDING SHOWN BELOW ARE FOR CONTRACTS OFFERED UNDER SEPARATE ACCOUNT A WITH THE SAME DAILY ASSET CHARGE OF 0.70%. UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007.
- --------------------------------------------------------------------------------------------------------------------------- For the years ending December 31, -------------------------------------------------------------------------------- 2002 2003 2004 2005 2006 2007 - --------------------------------------------------------------------------------------------------------------------------- AXA Moderate Allocation - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 89.58 $ 105.98 $ 114.42 $ 119.07 $ 130.44 $ 137.64 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- 2 4 9 - --------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock - --------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- $ 164.19 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- 12 - --------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Value - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 82.19 $ 105.07 $ 118.36 $ 123.92 $ 149.38 $ 141.72 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 1 1 5 9 5 - --------------------------------------------------------------------------------------------------------------------------- EQ/BlackRock International Value - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 77.18 $ 98.13 $ 118.54 $ 130.47 $ 162.83 $ 178.16 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- 2 6 10 - --------------------------------------------------------------------------------------------------------------------------- EQ/Calvert Socially Responsible - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 64.32 $ 81.73 $ 84.06 $ 90.77 $ 94.85 $ 105.61 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 1 1 - --------------------------------------------------------------------------------------------------------------------------- EQ/Equity 500 Index - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 63.97 $ 81.20 $ 88.88 $ 92.14 $ 105.31 $ 109.75 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 1 4 7 12 - --------------------------------------------------------------------------------------------------------------------------- EQ/FI Mid Cap - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 69.75 $ 99.46 $ 114.60 $ 121.04 $ 134.05 $ 143.79 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 1 2 5 9 - --------------------------------------------------------------------------------------------------------------------------- EQ/JPMorgan Core Bond - --------------------------------------------------------------------------------------------------------------------------- Unit value $107.78 $ 110.63 $ 114.36 $ 116.07 $ 119.94 $ 122.80 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- 1 2 3 - --------------------------------------------------------------------------------------------------------------------------- EQ/Money Market - --------------------------------------------------------------------------------------------------------------------------- Unit value $110.53 $ 110.38 $ 110.46 $ 112.56 $ 116.79 $ 121.44 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------------------- EQ/Small Company Index - --------------------------------------------------------------------------------------------------------------------------- Unit value $ 82.10 $ 118.92 $ 138.95 $ 143.86 $ 168.15 $ 163.91 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- 2 4 7 - --------------------------------------------------------------------------------------------------------------------------- EQ/T. Rowe Price Growth Stock - --------------------------------------------------------------------------------------------------------------------------- Unit Value -- -- -- -- -- $ 116.72 - --------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- 5 - ---------------------------------------------------------------------------------------------------------------------------
EQUI-VEST(SM) is issued by and is a service mark of AXA Equitable Life Insurance Company (AXA Equitable). Co-distributed by affiliates, AXA Advisors, LLC and AXA Distributors, LLC. 1290 Avenue of the Americas, New York, NY 10104. Copyright 2008 AXA Equitable Life Insurance Company. All rights reserved. AXA Equitable Life Insurance Company 1290 Avenue of the Americas New York, NY 10104 212-554-1234 A-1 AXA Equitable Life Insurance Company SUPPLEMENT DATED MAY 1, 2008, TO THE EQUI-VEST(SM) EMPLOYER SPONSORED RETIREMENT PROGRAMS PROSPECTUS DATED MAY 1, 2008 EQUI-VEST(SM) TSA contracts (Series 100) for New York City Housing Development Corporation - -------------------------------------------------------------------------------- This Supplement modifies certain information in the above-referenced prospectus, supplement to prospectus and SAI, as supplemented to date (together, the "Prospectus"), for EQUI-VEST(SM) Employer-Sponsored Retirement Programs offered by AXA Equitable Life Insurance Company ("AXA Equitable"). Terms in this Supplement have the same meaning as in the Prospectus. This Supplement describes the material differences between NY Housing TSA Contracts and the EQUI-VEST(SM) Series 100 contracts described in the Prospectus as follows: A. Administrative charge. The annual administrative charge is waived, therefore, all references in the Prospectus to "annual administrative charge" or "administrative charge" are deleted in their entirety. B. Withdrawal charges. The following changes are made to reflect the changes in circumstances under which withdrawal charges are imposed. 1. Under "Fees and charges" in EQUI-VEST employer-sponsored programs at a glance -- key features," the following is added after the first sentence under "Withdrawal charge:" on page 11 of the Prospectus: -- NY Housing TSA contracts under series 100: We deduct a charge equal to 6% of any amount withdrawn above the 10% free corridor. 2. The following chart is added under the chart in "For SEP, SARSEP, TSA, EDC and Annuitant-Owned HR-10 contracts" under "Charges and expenses," on page 50 of the Prospectus: For NY Housing TSA contracts. ------------------------------------- Contract Year(s) Withdrawal Charge ------------------------------------- 1 through 5 6% ------------------------------------- 6 and later 0 ------------------------------------- C. Current Total Separate Account A annual expenses. The following changes are made to reflect a change in the current Total Separate Account A annual expenses. The following footnote (+), is added to "Maximum total Separate Account A annual expenses" under "Fee table," on page 13 of the Prospectus: + For NY Housing TSA contracts in series 100, the current "Mortality and expense risk charge" is 0.45% and the current "Other expenses" is 0.25%, resulting in the current "Total Separate Account A annual expenses" of 0.70%. D. Condensed financial information FOR USE ONLY WITH NY HOUSING TSA CONTRACTS. X02015 EQUI-VEST(SM) TSA CONTRACTS FOR NEW YORK CITY HOUSING DEVELOPMENT CORPORATION THE UNIT VALUES AND NUMBER OF UNITS OUTSTANDING SHOWN BELOW ARE FOR CONTRACTS OFFERED UNDER SEPARATE ACCOUNT A WITH THE SAME DAILY ASSET CHARGE OF 0.70%. UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007
- ------------------------------------------------------------------------------------------------------------------------------------ For the year ending December 31, - ------------------------------------------------------------------------------------------------------------------------------------ 2002 2003 2004 2005 2006 2007 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Aggressive Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 109.32 $ 121.36 $ 130.23 $ 152.46 $ 160.73 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ AXA Conservative Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 102.32 $ 107.72 $ 109.58 $ 115.75 $ 121.61 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ AXA Conservative-Plus Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 104.31 $ 111.61 $ 114.43 $ 123.58 $ 129.44 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ AXA Moderate Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 114.03 $ 135.22 $ 146.36 $ 152.68 $ 167.68 $ 177.39 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 2 2 2 -- 2 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Moderate-Plus Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 108.13 $ 119.93 $ 127.03 $ 144.44 $ 152.59 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- 1 1 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Common Stock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 82.37 $ 122.63 $ 139.31 $ 144.65 $ 159.38 $ 164.19 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 16 15 12 -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Intermediate Government Securities - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 135.05 $ 137.32 $ 139.35 $ 140.44 $ 144.18 $ 153.38 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein International - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 75.04 $ 100.91 $ 118.71 $ 136.25 $ 167.52 $ 186.32 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 1 3 -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Large Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 136.42 $ 59.68 $ 64.24 $ 73.31 $ 72.40 $ 81.95 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Quality Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 80.26 $ 140.62 $ 145.23 $ 147.47 $ 152.43 $ 158.62 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Small Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 88.17 $ 112.59 $ 127.76 $ 141.82 $ 153.88 $ 178.75 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 2 1 2 2 -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 82.19 $ 105.07 $ 118.36 $ 123.92 $ 149.38 $ 141.72 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 2 5 9 4 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AXA Rosenberg Value Long/Short Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 99.56 $ 102.19 $ 108.82 $ 109.35 $ 111.87 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- 1 -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/BlackRock Basic Value Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 112.46 $ 146.51 $ 160.86 $ 164.45 $ 197.45 $ 198.37 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/BlackRock International Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 77.18 $ 98.13 $ 118.54 $ 130.47 $ 162.83 $ 178.16 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 2 2 6 10 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Boston Advisors Equity Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 107.13 $ 112.92 $ 130.03 $ 133.89 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------
2 EQUI-VEST(SM) TSA CONTRACTS FOR NEW YORK CITY HOUSING DEVELOPMENT CORPORATION THE UNIT VALUES AND NUMBER OF UNITS OUTSTANDING SHOWN BELOW ARE FOR CONTRACTS OFFERED UNDER SEPARATE ACCOUNT A WITH THE SAME DAILY ASSET CHARGE OF 0.70%. UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007 (CONTINUED)
- ------------------------------------------------------------------------------------------------------------------------------------ For the year ending December 31, - ------------------------------------------------------------------------------------------------------------------------------------ 2002 2003 2004 2005 2006 2007 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Calvert Socially Responsible - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 64.32 $ 81.73 $ 84.06 $ 90.77 $ 94.85 $ 105.61 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 1 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 67.75 $ 71.00 $ 74.10 $ 79.03 $ 82.77 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Research - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 106.98 $ 117.81 $ 124.08 $ 138.06 $ 139.36 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 1 1 1 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Caywood-Scholl High Yield Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 104.42 $ 111.95 $ 114.28 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Davis New York Venture - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- $ 97.33 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Equity 500 Index - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 95.38 $ 121.36 $ 133.18 $ 138.41 $ 158.58 $ 165.68 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 5 5 5 6 5 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Evergreen International Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 97.65 $ 100.28 $ 108.84 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Evergreen Omega - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 58.23 $ 79.92 $ 84.94 $ 87.69 $ 92.19 $ 101.91 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/FI Mid Cap - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 69.75 $ 99.46 $ 114.60 $ 121.04 $ 134.05 $ 143.79 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- 2 5 9 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 104.50 $ 105.90 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- 5 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Small Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 108.44 $ 98.38 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Templeton Founding Strategy - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- $ 95.55 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/GAMCO Mergers and Acquisitions - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 105.50 $ 117.55 $ 120.71 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/GAMCO Small Company Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 113.39 $ 117.46 $ 138.61 $ 150.43 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- 2 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/International Core PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 91.05 $ 102.71 $ 119.46 $ 141.46 $ 161.85 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- 1 -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/International Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 115.49 $ 144.09 $ 166.26 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------
3 EQUI-VEST(SM) TSA CONTRACTS FOR NEW YORK CITY HOUSING DEVELOPMENT CORPORATION THE UNIT VALUES AND NUMBER OF UNITS OUTSTANDING SHOWN BELOW ARE FOR CONTRACTS OFFERED UNDER SEPARATE ACCOUNT A WITH THE SAME DAILY ASSET CHARGE OF 0.70%. UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007 (CONTINUED)
- ------------------------------------------------------------------------------------------------------------------------------------ For the year ending December 31, - ------------------------------------------------------------------------------------------------------------------------------------ 2002 2003 2004 2005 2006 2007 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/JPMorgan Core Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 107.78 $ 110.63 $ 114.36 $ 116.07 $ 119.94 $ 122.80 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- 1 2 3 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/JPMorgan Value Opportunities - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 78.73 $ 99.14 $ 109.16 $ 112.65 $ 134.65 $ 132.08 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Large Cap Core PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 67.58 $ 81.90 $ 90.60 $ 96.43 $ 108.15 $ 111.57 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Large Cap Growth PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 82.37 $ 92.12 $ 99.43 $ 106.74 $ 122.55 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 4 4 4 4 3 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Legg Mason Value Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 106.57 $ 113.05 $ 105.61 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Long Term Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 100.42 $ 101.54 $ 108.28 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Growth and Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 106.44 $ 123.89 $ 127.29 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Large Cap Core - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 106.07 $ 118.70 $ 130.45 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Mid Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 111.96 $ 125.00 $ 124.84 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Marsico Focus - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 93.15 $ 121.29 $ 133.10 $ 146.32 $ 158.85 $ 179.88 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- 3 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Mid Cap Value PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 76.93 $ 101.80 $ 119.13 $ 131.69 $ 147.09 $ 143.72 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- 1 1 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Money Market - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 120.47 $ 120.61 $ 120.99 $ 123.61 $ 128.55 $ 134.00 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Montag & Caldwell Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 104.81 $ 109.70 $ 117.59 $ 141.07 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Mutual Shares - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 107.32 $ 108.32 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- 2 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Global - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 110.17 $ 116.68 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Opportunity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- $ 95.57 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------
4 EQUI-VEST(SM) TSA CONTRACTS FOR NEW YORK CITY HOUSING DEVELOPMENT CORPORATION THE UNIT VALUES AND NUMBER OF UNITS OUTSTANDING SHOWN BELOW ARE FOR CONTRACTS OFFERED UNDER SEPARATE ACCOUNT A WITH THE SAME DAILY ASSET CHARGE OF 0.70%. UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007 (CONTINUED)
- ------------------------------------------------------------------------------------------------------------------------------------ For the year ending December 31, - ------------------------------------------------------------------------------------------------------------------------------------ 2002 2003 2004 2005 2006 2007 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Small Cap - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 111.21 $ 108.48 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/PIMCO Real Return - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 99.78 $ 99.47 $ 110.10 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Short Duration Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 100.23 $ 103.47 $ 108.20 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Small Company Index - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 118.92 $ 138.95 $ 143.86 $ 168.15 $ 163.91 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- 2 4 7 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/T. Rowe Price Growth Stock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 111.38 $ 115.01 $ 109.62 $ 116.72 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- 5 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Templeton Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 107.79 $ 109.27 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/UBS Growth and Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 109.39 $ 118.41 $ 134.22 $ 134.84 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Comstock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 104.74 $ 120.55 $ 116.70 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Emerging Markets Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 136.39 $ 167.50 $ 220.86 $ 300.59 $ 423.88 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 3 5 -- -- 6 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Mid Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 124.27 $ 134.83 $ 163.89 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Real Estate - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- $ 83.14 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- 2 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Aggressive Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 69.15 $ 77.17 $ 83.12 $ 86.97 $ 96.44 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 10 10 13 -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Core Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 107.42 $ 110.66 $ 114.16 $ 115.34 $ 118.85 $ 125.41 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Health Care - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 79.50 $ 101.15 $ 112.62 $ 119.62 $ 124.88 $ 135.12 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager High Yield - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 81.14 $ 99.00 $ 107.10 $ 109.88 $ 120.25 $ 123.46 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager International Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 78.58 $ 104.82 $ 122.72 $ 140.68 $ 175.06 $ 195.44 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 1 1 - ------------------------------------------------------------------------------------------------------------------------------------
5 EQUI-VEST(SM) TSA CONTRACTS FOR NEW YORK CITY HOUSING DEVELOPMENT CORPORATION THE UNIT VALUES AND NUMBER OF UNITS OUTSTANDING SHOWN BELOW ARE FOR CONTRACTS OFFERED UNDER SEPARATE ACCOUNT A WITH THE SAME DAILY ASSET CHARGE OF 0.70%. UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007 (CONTINUED)
- ------------------------------------------------------------------------------------------------------------------------------------ For the year ending December 31, - ------------------------------------------------------------------------------------------------------------------------------------ 2002 2003 2004 2005 2006 2007 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Core Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 76.92 $ 97.88 $ 106.59 $ 112.97 $ 127.42 $ 132.85 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- 1 -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 68.31 $ 88.60 $ 93.85 $ 100.17 $ 99.58 $ 110.00 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 79.60 $ 103.61 $ 117.73 $ 125.20 $ 148.35 $ 152.67 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Mid Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 62.40 $ 86.89 $ 96.41 $ 103.76 $ 112.95 $ 125.50 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Mid Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 74.18 $ 103.57 $ 118.46 $ 126.28 $ 143.86 $ 142.98 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Small Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 114.75 $ 122.48 $ 134.04 $ 138.00 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Small Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $114.85 $ 156.67 $ 182.19 $ 189.39 $ 218.37 $ 195.49 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Technology - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 57.00 $ 89.23 $ 93.02 $ 102.78 $ 109.51 $ 128.56 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 8 20 8 10 8 - ------------------------------------------------------------------------------------------------------------------------------------ Target 2015 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 108.53 $ 115.58 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Target 2025 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 109.49 $ 116.73 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Target 2035 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 110.38 $ 117.70 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Target 2045 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 111.17 $ 119.00 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------
Because you are purchasing an annuity contract to fund a qualified employer sponsored retirement arrangement, you should be aware that such annuities do not provide tax deferral benefits beyond those already provided by the Internal Revenue Code. Before purchasing one of these annuities, you should consider whether its features and benefits beyond tax deferral meet your needs and goals. You may also want to consider the relative features, benefits and costs of these annuities with any other investment that you may use in connection with your retirement plan or arrangement. (For more information, see "Tax information," in the Prospectus). EQUI-VEST(SM) is issued by and is a service mark of AXA Equitable Life Insurance Company (AXA Equitable). Co-distributed by affiliates, AXA Advisors, LLC and AXA Distributors, LLC. 1290 Avenue of the Americas, New York, NY 10104. Copyright 2008 AXA Equitable Life Insurance Company. All rights reserved. AXA Equitable Life Insurance Company 1290 Avenue of the Americas New York, NY 10104 212-554-1234 6 EQUI-VEST(SM) Supplement dated May 1, 2008 to EQUI-VEST(SM) Employer-Sponsored Retirement Programs Prospectus Dated May 1, 2008 EQUI-VEST(SM) TSA contracts (Series 200)* offered to Employees of certain non-profit organizations within the State of Oregon - -------------------------------------------------------------------------------- This Supplement adds to and modifies certain information contained in the Prospectus or Supplement to Prospectus dated May 1, 2008 ("Prospectus") for the EQUI-VEST(SM) Employer-Sponsored Retirement Programs deferred variable annuity contracts issued by AXA Equitable Life Insurance Company ("AXA Equitable"). We offer the EQUI-VEST(SM) series 200 contracts, as described below ("Modified Oregon TSA Contracts"), to fund plans that meet the requirements of Internal Revenue Code Section 403(b) ("Section 403(b) plans") sponsored by certain Section 501(c)(3) non-profit organizations, within the State of Oregon ("employer"). Modified Oregon TSA Contracts are available only when an employer (i) makes contributions to a Section 403(b) plan; (ii) has entered into an agreement with us that permits us to offer Modified Oregon TSA Contracts as a funding vehicle for its 403(b) plan; and (iii) has at least $10 million in existing assets to fund Modified Oregon TSA Contracts in its 403(b) plan. This Supplement describes the material differences between the series 200 contracts described in the Prospectus and the Modified Oregon TSA Contracts. Certain of the modifications relate to the separate account asset-based charges for the variable investment options under Modified Oregon TSA Contracts. These charges are lowered from a maximum of 1.49% on certain variable investment options to 0.90% on all variable investment options. The Class IB/B shares of either the AXA Premier VIP Trust or EQ Advisors Trust (the "Trusts") available under Modified Oregon TSA Contracts include 12b-1 fees among their charges. The series 200 contracts described in the Prospectus include Class IA shares of certain Trusts, which are not subject to 12b-1 fees and are not offered under Modified Oregon TSA Contracts. This Supplement should be read together with the Prospectus. For purposes of this Supplement, the term "annuitant" refers to holders of current contracts (contract number 11947CT-I*, and certificate numbers 11934T* and 92TSAAOR00) and the Modified Oregon TSA Contracts offered hereunder. Terms and other provisions not defined or modified in this Supplement are the same as in the Prospectus. Because you are purchasing an annuity contract as a Tax Sheltered Annuity (TSA), you should be aware that such annuities do not provide tax deferral benefits beyond those already provided by the Internal Revenue Code. Before purchasing one of these annuities, you should consider whether its features and benefits beyond tax deferral meet your needs and goals. You may also want to consider the relative features, benefits and costs of these annuities with any other investment that you may use in connection with your retirement plan or arrangement. (For more information, see "Tax information," in the Prospectus.) The first bullet in "Fees and charges" under "EQUI-VEST(SM) employer-sponsored retirement programs at a glance - key features" section in the Prospectus has been modified for Oregon TSA Contracts, as follows: We deduct a daily charge on amounts invested in the variable investment options for mortality and expense risks and other expenses at an annual rate of 0.90%. * For in-force contracts, your contract series may be 100. FOR USE ONLY IN THE STATE OF OREGON 888-1391 (5/08) Cat. No. 136613 (5/08) x02016 Fee Table - -------------------------------------------------------------------------------- The following tables are applicable to Modified Oregon TSA Contracts and describe the fees and expenses that you will pay when buying, owning, and surrendering the contract. Please also see the discussion of the modifications to "charges and expenses" as set forth later in this Supplement. The first table describes fees and expenses that you will pay at the time that you surrender the contract, purchase a Variable Immediate Annuity payout option or make certain transfers and exchanges. Charges designed to approximate certain taxes that may be imposed on us, such as premium taxes in your state, may also apply. Charges for certain features shown in the fee table are mutually exclusive. - ---------------------------------------------------------------------------------------------------- Charges we deduct from your account at the time you request certain transactions - ---------------------------------------------------------------------------------------------------- Withdrawal charge as a percentage of the amount withdrawn (deducted if you surrender your contract or make certain withdrawals). 0% The withdrawal charge is waived; therefore all references in the prospectus to "withdrawal charge" or "10% free withdrawal amount" are deleted in their entirety. Charge if you elect a Variable Immediate Annuity payout option (which is described in a separate prospectus for that option). $350
The next table describes the fees and expenses that you will pay periodically during the time that you own the contract, not including underlying trust portfolio fees and expenses.
- ---------------------------------------------------------------------------------------------------- Charges we deduct from your account value on each contract date anniversary - ---------------------------------------------------------------------------------------------------- Annual administrative charge: $ 0 The annual administrative charge is waived; therefore all references in the prospectus to "annual administrative charge" or "administrative charge" are deleted in their entirety. - ---------------------------------------------------------------------------------------------------- Charges we deduct from your variable investment options expressed as an annual percentage of daily net assets - ---------------------------------------------------------------------------------------------------- Separate account annual expenses: Mortality and expense risks(1) 0.65% Other expenses(2) 0.25% ---- Total Separate Account A annual expenses(3) 0.90% - ----------------------------------------------------------------------------------------------------
You also bear your proportionate share of all fees and expenses paid by a "portfolio" that corresponds to any variable investment option you are using. This table shows the lowest and highest total operating expenses charged by any of the portfolios that you will pay periodically during the time that you own the contract. These fees and expenses are reflected in the portfolio's net asset value each day. Therefore, they reduce the investment return of the portfolio and the related variable investment option. Actual fees and expenses are likely to fluctuate from year to year. More detail concerning each portfolio's fees and expenses is contained in the Trust prospectus for the portfolio.
- ---------------------------------------------------------------------------------------------------- Portfolio operating expenses expressed as an annual percentage of daily net assets - ---------------------------------------------------------------------------------------------------- Total Annual Portfolio Operating Expenses for 2007 (expenses that are deducted Lowest Highest from portfolio assets including management fees, 12b-1 fees, service fees, and/or ----- ----- other expenses)(4) 0.63% 3.71%
This table shows the fees and expenses for 2007 as an annual percentage of each portfolio's daily average net assets.
- ---------------------------------------------------------------------------- Management 12b-1 Other Portfolio Name Fees(5) Fees(6) Expenses(7) - ---------------------------------------------------------------------------- AXA Premier VIP Trust: - ---------------------------------------------------------------------------- AXA Aggressive Allocation(a) 0.10% 0.25% 0.17% AXA Conservative Allocation(a) 0.10% 0.25% 0.21% AXA Conservative-Plus Allocation(a) 0.10% 0.25% 0.19% AXA Moderate Allocation(a) 0.10% 0.25% 0.17% AXA Moderate-Plus Allocation(a) 0.10% 0.25% 0.17% Multimanager Aggressive Equity 0.60% 0.25% 0.19% Multimanager Core Bond 0.58% 0.25% 0.18% - ---------------------------------------------------------------------------- - ---------------------------------------------------------------------------------------------------- Acquired Total Fee Net Total Fund Annual Waivers Annual Fees and Expenses and/or Expenses Expenses (Before Expense (After (Underlying Expense Reimburse- Expense Portfolio Name Portfolios)(8) Limitations) ments(9) Limitations) - ---------------------------------------------------------------------------------------------------- AXA Premier VIP Trust: - ---------------------------------------------------------------------------------------------------- AXA Aggressive Allocation(a) 0.92% 1.44% (0.17)% 1.27% AXA Conservative Allocation(a) 0.69% 1.25% (0.21)% 1.04% AXA Conservative-Plus Allocation(a) 0.76% 1.30% (0.19)% 1.11% AXA Moderate Allocation(a) 0.82% 1.34% (0.17)% 1.17% AXA Moderate-Plus Allocation(a) 0.86% 1.38% (0.17)% 1.21% Multimanager Aggressive Equity -- 1.04% -- 1.04% Multimanager Core Bond -- 1.01% (0.01)% 1.00% - ----------------------------------------------------------------------------------------------------
2
- ------------------------------------------------------------------------------------------------------------------------------------ Management 12b-1 Other Portfolio Name Fees(5) Fees(6) Expenses(7) - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Health Care 1.20% 0.25% 0.23% Multimanager High Yield 0.57% 0.25% 0.19% Multimanager International Equity 1.00% 0.25% 0.23% Multimanager Large Cap Core Equity 0.89% 0.25% 0.21% Multimanager Large Cap Growth 0.90% 0.25% 0.22% Multimanager Large Cap Value 0.87% 0.25% 0.20% Multimanager Mid Cap Growth 1.10% 0.25% 0.20% Multimanager Mid Cap Value 1.09% 0.25% 0.20% Multimanager Small Cap Growth 1.05% 0.25% 0.27% Multimanager Small Cap Value 1.03% 0.25% 0.18% Multimanager Technology 1.20% 0.25% 0.22% Target 2015 Allocation 0.10% 0.25% 1.71% Target 2025 Allocation 0.10% 0.25% 1.41% Target 2035 Allocation 0.10% 0.25% 2.38% Target 2045 Allocation 0.10% 0.25% 2.81% - ------------------------------------------------------------------------------------------------------------------------------------ EQ Advisors Trust: - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Common Stock 0.47% 0.25% 0.13% EQ/AllianceBernstein Intermediate Government Securities 0.50% 0.25% 0.13% EQ/AllianceBernstein International 0.71% 0.25% 0.18% EQ/AllianceBernstein Large Cap Growth 0.90% 0.25% 0.13% EQ/AllianceBernstein Quality Bond 0.50% 0.25% 0.14% EQ/AllianceBernstein Small Cap Growth 0.74% 0.25% 0.13% EQ/AllianceBernstein Value 0.59% 0.25% 0.12% EQ/AXA Rosenberg Value Long/Short Equity 1.40% 0.25% 1.91% EQ/BlackRock Basic Value Equity 0.55% 0.25% 0.13% EQ/BlackRock International Value 0.81% 0.25% 0.19% EQ/Boston Advisors Equity Income 0.75% 0.25% 0.14% EQ/Calvert Socially Responsible 0.65% 0.25% 0.23% EQ/Capital Guardian Growth 0.65% 0.25% 0.14% EQ/Capital Guardian Research 0.63% 0.25% 0.13% EQ/Caywood-Scholl High Yield Bond 0.60% 0.25% 0.16% EQ/Davis New York Venture 0.85% 0.25% 0.18% EQ/Equity 500 Index 0.25% 0.25% 0.13% EQ/Evergreen International Bond 0.70% 0.25% 0.17% EQ/Evergreen Omega 0.65% 0.25% 0.25% EQ/FI Mid Cap 0.68% 0.25% 0.13% EQ/Franklin Income 0.90% 0.25% 0.15% EQ/Franklin Small Cap Value 0.90% 0.25% 0.18% EQ/Franklin Templeton Founding Strategy 0.05% 0.25% 0.22% EQ/GAMCO Mergers and Acquisitions 0.90% 0.25% 0.19% EQ/GAMCO Small Company Value 0.76% 0.25% 0.12% EQ/International Core PLUS(e) 0.60% 0.25% 0.30% EQ/International Growth 0.85% 0.25% 0.27% EQ/JPMorgan Core Bond 0.43% 0.25% 0.13% EQ/JPMorgan Value Opportunities 0.60% 0.25% 0.14% EQ/Large Cap Core PLUS(b) 0.50% 0.25% 0.25% EQ/Large Cap Growth PLUS(c) 0.50% 0.25% 0.24% EQ/Legg Mason Value Equity 0.65% 0.25% 0.17% EQ/Long Term Bond 0.40% 0.25% 0.13% EQ/Lord Abbett Growth and Income 0.65% 0.25% 0.16% EQ/Lord Abbett Large Cap Core 0.65% 0.25% 0.21% EQ/Lord Abbett Mid Cap Value 0.70% 0.25% 0.15% EQ/Marsico Focus 0.85% 0.25% 0.13% EQ/Mid Cap Value PLUS(d) 0.55% 0.25% 0.24% EQ/Money Market 0.32% 0.25% 0.13% EQ/Montag & Caldwell Growth 0.75% 0.25% 0.15% EQ/Mutual Shares 0.90% 0.25% 0.21% EQ/Oppenheimer Global 0.95% 0.25% 0.51% - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Acquired Total Fee Net Total Fund Annual Waivers Annual Fees and Expenses and/or Expenses Expenses (Before Expense (After (Underlying Expense Reimburse- Expense Portfolio Name Portfolios)(8) Limitations) ments(9) Limitations) - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Health Care -- 1.68% 0.00% 1.68% Multimanager High Yield -- 1.01% -- 1.01% Multimanager International Equity -- 1.48% 0.00% 1.48% Multimanager Large Cap Core Equity -- 1.35% 0.00% 1.35% Multimanager Large Cap Growth -- 1.37% (0.02)% 1.35% Multimanager Large Cap Value -- 1.32% 0.00% 1.32% Multimanager Mid Cap Growth -- 1.55% 0.00% 1.55% Multimanager Mid Cap Value -- 1.54% 0.00% 1.54% Multimanager Small Cap Growth -- 1.57% (0.02)% 1.55% Multimanager Small Cap Value -- 1.46% 0.00% 1.46% Multimanager Technology 0.01% 1.68% 0.00% 1.68% Target 2015 Allocation 0.55% 2.61% (1.46)% 1.15% Target 2025 Allocation 0.55% 2.31% (1.16)% 1.15% Target 2035 Allocation 0.55% 3.28% (2.13)% 1.15% Target 2045 Allocation 0.55% 3.71% (2.56)% 1.15% - ------------------------------------------------------------------------------------------------------------------------------------ EQ Advisors Trust: - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Common Stock -- 0.85% -- 0.85% EQ/AllianceBernstein Intermediate Government Securities -- 0.88% -- 0.88% EQ/AllianceBernstein International -- 1.14% (0.04)% 1.10% EQ/AllianceBernstein Large Cap Growth -- 1.28% (0.23)% 1.05% EQ/AllianceBernstein Quality Bond -- 0.89% -- 0.89% EQ/AllianceBernstein Small Cap Growth -- 1.12% -- 1.12% EQ/AllianceBernstein Value -- 0.96% (0.01)% 0.95% EQ/AXA Rosenberg Value Long/Short Equity -- 3.56% 0.00% 3.56% EQ/BlackRock Basic Value Equity -- 0.93% 0.00% 0.93% EQ/BlackRock International Value -- 1.25% 0.00% 1.25% EQ/Boston Advisors Equity Income -- 1.14% (0.09)% 1.05% EQ/Calvert Socially Responsible -- 1.13% (0.08)% 1.05% EQ/Capital Guardian Growth 0.01% 1.05% (0.09)% 0.96% EQ/Capital Guardian Research -- 1.01% (0.06)% 0.95% EQ/Caywood-Scholl High Yield Bond -- 1.01% (0.01)% 1.00% EQ/Davis New York Venture -- 1.28% 0.00% 1.28% EQ/Equity 500 Index -- 0.63% -- 0.63% EQ/Evergreen International Bond -- 1.12% 0.00% 1.12% EQ/Evergreen Omega -- 1.15% 0.00% 1.15% EQ/FI Mid Cap -- 1.06% (0.06)% 1.00% EQ/Franklin Income -- 1.30% 0.00% 1.30% EQ/Franklin Small Cap Value -- 1.33% (0.03)% 1.30% EQ/Franklin Templeton Founding Strategy 1.05% 1.57% (0.12)% 1.45%(10) EQ/GAMCO Mergers and Acquisitions -- 1.34% 0.00% 1.34% EQ/GAMCO Small Company Value -- 1.13% 0.00% 1.13% EQ/International Core PLUS(e) 0.04% 1.19% (0.05)% 1.14% EQ/International Growth -- 1.37% 0.00% 1.37% EQ/JPMorgan Core Bond -- 0.81% 0.00% 0.81% EQ/JPMorgan Value Opportunities -- 0.99% (0.04)% 0.95% EQ/Large Cap Core PLUS(b) 0.02% 1.02% (0.05)% 0.97% EQ/Large Cap Growth PLUS(c) 0.02% 1.01% (0.04)% 0.97% EQ/Legg Mason Value Equity -- 1.07% (0.07)% 1.00% EQ/Long Term Bond -- 0.78% 0.00% 0.78% EQ/Lord Abbett Growth and Income -- 1.06% (0.06)% 1.00% EQ/Lord Abbett Large Cap Core -- 1.11% (0.11)% 1.00% EQ/Lord Abbett Mid Cap Value -- 1.10% (0.05)% 1.05% EQ/Marsico Focus -- 1.23% (0.08)% 1.15% EQ/Mid Cap Value PLUS(d) 0.02% 1.06% (0.04)% 1.02% EQ/Money Market -- 0.70% -- 0.70% EQ/Montag & Caldwell Growth -- 1.15% 0.00% 1.15% EQ/Mutual Shares -- 1.36% (0.06)% 1.30% EQ/Oppenheimer Global 0.01% 1.72% (0.36)% 1.36% - ------------------------------------------------------------------------------------------------------------------------------------
3
- ------------------------------------------------------------------------------------------------------------------------------------ Management 12b-1 Other Portfolio Name Fees(5) Fees(6) Expenses(7) - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Opportunity 0.85% 0.25% 0.45% EQ/Oppenheimer Main Street Small Cap 0.90% 0.25% 0.48% EQ/PIMCO Real Return 0.55% 0.25% 0.14% EQ/Short Duration Bond 0.43% 0.25% 0.15% EQ/Small Company Index 0.25% 0.25% 0.14% EQ/T. Rowe Price Growth Stock 0.79% 0.25% 0.14% EQ/Templeton Growth 0.95% 0.25% 0.20% EQ/UBS Growth and Income 0.75% 0.25% 0.16% EQ/Van Kampen Comstock 0.65% 0.25% 0.15% EQ/Van Kampen Emerging Markets Equity 1.11% 0.25% 0.28% EQ/Van Kampen Mid Cap Growth 0.70% 0.25% 0.15% EQ/Van Kampen Real Estate 0.90% 0.25% 0.21% - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Acquired Total Fee Net Total Fund Annual Waivers Annual Fees and Expenses and/or Expenses Expenses (Before Expense (After (Underlying Expense Reimburse- Expense Portfolio Name Portfolios)(8) Limitations) ments(9) Limitations) - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Opportunity 0.01% 1.56% (0.25)% 1.31% EQ/Oppenheimer Main Street Small Cap 0.01% 1.64% (0.33)% 1.31% EQ/PIMCO Real Return -- 0.94% (0.04)% 0.90% EQ/Short Duration Bond -- 0.83% 0.00% 0.83% EQ/Small Company Index -- 0.64% 0.00% 0.64% EQ/T. Rowe Price Growth Stock -- 1.18% (0.03)% 1.15% EQ/Templeton Growth -- 1.40% (0.05)% 1.35% EQ/UBS Growth and Income -- 1.16% (0.11)% 1.05% EQ/Van Kampen Comstock -- 1.05% (0.05)% 1.00% EQ/Van Kampen Emerging Markets Equity -- 1.64% 0.00% 1.64% EQ/Van Kampen Mid Cap Growth -- 1.10% (0.05)% 1.05% EQ/Van Kampen Real Estate -- 1.36% (0.10)% 1.26% - ------------------------------------------------------------------------------------------------------------------------------------
Notes: (a) The AXA Allocation portfolios. (b) Formerly named "MarketPLUS Large Cap Core." (c) Formerly named "MarketPLUS Large Cap Growth." (d) Formerly named "MarketPLUS Mid Cap Value." (e) Formerly named "MarketPLUS International Core." (1) A portion of this charge is for providing the death benefit. (2) This charge is for financial accounting and other administrative services relating to the contract. (3) Total Separate Account A charges annual expenses of the variable investment options (not including the Trusts' fees and other expenses) are guaranteed not to exceed a total annual rate of 0.90%. (4) "Total Annual Portfolio Operating Expenses" are based, in part, on estimated amounts for options added during the fiscal year 2007 and for the underlying portfolios. (5) The management fees for each portfolio cannot be increased without a vote of that portfolio's shareholders. See footnote (9) for any expense limitation agreement information. (6) Portfolio shares are all subject to fees imposed under the distribution plans (the "Rule 12b-1 Plan") adopted by the Trusts pursuant to Rule 12b-1 under the Investment Company Act of 1940. For the portfolios of the AXA Premier VIP Trust and the EQ Advisors Trust, the 12b-1 fees will not be increased for the life of the contract. (7) The amounts shown as "Other Expenses" will fluctuate from year to year depending on actual expenses. See footnote (9) for any expense limitation agreement information. (8) Each of these variable investment options invests in a corresponding portfolio of one of the Trusts or other unaffiliated investment companies. Each portfolio, in turn, invests in shares of other portfolios of the Trusts and/or shares of unaffiliated portfolios ("underlying portfolios"). Amounts shown reflect each portfolio's pro rata share of the fees and expenses of the underlying portfolio(s) in which it invests. A "--" indicates that the listed portfolio does not invest in underlying portfolios. (9) The amounts shown reflect any fee waivers and/or expense reimbursements that apply to each portfolio. A "--" indicates that there is no expense limitation in effect, and "0.00%" indicates that the expense limitation arrangement did not result in a fee waiver or reimbursement. AXA Equitable, the investment manager of AXA Premier VIP Trust and EQ Advisors Trust, has entered into expense limitation agreements with respect to certain portfolios, which are effective through April 30, 2009 (unless the Board of Trustees of AXA Premier VIP Trust or EQ Advisors Trust, as applicable, consents to an earlier revision or termination of this arrangement). Under these agreements, AXA Equitable has agreed to waive or limit its fees and assume other expenses of certain portfolios, if necessary, in an amount that limits such portfolio's Total Annual Expenses (exclusive of interest, taxes, brokerage commissions, capitalized expenditures, expenses of the underlying portfolios in which the portfolio invests and extraordinary expenses) to not more than the amounts specified in the agreements. Therefore, each portfolio may at a later date make a reimbursement to AXA Equitable for any of the management fees waived or limited and other expenses assumed and paid by AXA Equitable pursuant to the expense limitation agreements provided that the portfolio's current annual operating expenses do not exceed the operating expense limit determined for such portfolio. See the prospectuses for each applicable underlying trust for more information about the arrangements. In addition, a portion of the brokerage commissions of certain portfolios of AXA Premier VIP Trust and EQ Advisors Trust is used to reduce the applicable portfolio's expenses. If the above table reflected both the expense limitation arrangements plus the portion of the brokerage commissions used to reduce portfolio net expenses, the expenses would be as shown in the table below: - ----------------------------------------------------------------------------- Portfolio Name: - ----------------------------------------------------------------------------- Multimanager Aggressive Equity 0.97% - ----------------------------------------------------------------------------- Multimanager Health Care 1.67% - ----------------------------------------------------------------------------- Multimanager Large Cap Core Equity 1.34% - ----------------------------------------------------------------------------- Multimanager Large Cap Growth 1.29% - ----------------------------------------------------------------------------- Multimanager Large Cap Value 1.26% - ----------------------------------------------------------------------------- Multimanager Mid Cap Growth 1.52% - ----------------------------------------------------------------------------- Multimanager Mid Cap Value 1.53% - ----------------------------------------------------------------------------- Multimanager Small Cap Growth 1.35% - ----------------------------------------------------------------------------- Multimanager Small Cap Value 1.45% - ----------------------------------------------------------------------------- Multimanager Technology 1.67% - ----------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock 0.84% - ----------------------------------------------------------------------------- EQ/AllianceBernstein Large Cap Growth 1.03% - ----------------------------------------------------------------------------- 4 - ----------------------------------------------------------------------------- Portfolio Name: - ----------------------------------------------------------------------------- EQ/AllianceBernstein Small Cap Growth 1.11% - ----------------------------------------------------------------------------- EQ/AllianceBernstein Value 0.87% - ----------------------------------------------------------------------------- EQ/BlackRock Basic Value Equity 0.92% - ----------------------------------------------------------------------------- EQ/Davis New York Venture 1.25% - ----------------------------------------------------------------------------- EQ/Evergreen Omega 1.12% - ----------------------------------------------------------------------------- EQ/GAMCO Mergers and Acquisitions 1.33% - ----------------------------------------------------------------------------- EQ/GAMCO Small Company Value 1.10% - ----------------------------------------------------------------------------- EQ/International Core PLUS 1.05% - ----------------------------------------------------------------------------- EQ/Large Cap Core PLUS 0.83% - ----------------------------------------------------------------------------- EQ/Large Cap Growth PLUS 0.82% - ----------------------------------------------------------------------------- EQ/Legg Mason Value Equity 0.97% - ----------------------------------------------------------------------------- EQ/Lord Abbett Growth and Income 0.98% - ----------------------------------------------------------------------------- EQ/Lord Abbett Large Cap Core 0.99% - ----------------------------------------------------------------------------- EQ/Lord Abbett Mid Cap Value 1.04% - ----------------------------------------------------------------------------- EQ/Mid Cap Value PLUS 0.81% - ----------------------------------------------------------------------------- EQ/Montag & Caldwell Growth 1.13% - ----------------------------------------------------------------------------- EQ/T. Rowe Price Growth Stock 0.87% - ----------------------------------------------------------------------------- EQ/UBS Growth and Income 1.04% - ----------------------------------------------------------------------------- EQ/Van Kampen Comstock 0.99% - ----------------------------------------------------------------------------- EQ/Van Kampen Mid Cap Growth 1.04% - ----------------------------------------------------------------------------- (10) In addition to the fee waiver and/or expense reimbursement discussed in the footnote immediately above, AXA Equitable, voluntarily will waive all its management and administration fees and reimburse all other expenses associated with the EQ/Franklin Templeton Founding Strategy Portfolio ("Portfolio") (exclusive of taxes, interest, brokerage commissions, capitalized expenses, expenses of the investment companies in which the Portfolio invests, Rule 12b-1 fees and extraordinary expenses). Accordingly, the Total Annual Operating Expenses (including Acquired Fund Fees and Expenses), taking into account the voluntary waiver by AXA Equitable, will be 1.30%. The voluntary waiver by AXA Equitable will remain in effect until April 30, 2009. The section entitled "Charges under the contracts" under "Charges and expenses" section in the prospectus has been modified as follows: MORTALITY AND EXPENSE RISKS CHARGE. The following information replaces the first paragraph of this section. We deduct a daily charge from the net assets in each variable investment option to compensate us for mortality and expense risks, including the minimum death benefit. The daily charge is equivalent to an annual rate of 0.65% of the net assets in each of the variable investment options. CHARGE FOR OTHER EXPENSES. The following information replaces this section in its entirety: We deduct this daily charge from the net assets in each variable investment option. The daily charge is equivalent to an annual rate of 0.25% of the net assets in each variable investment option. The charge is to reimburse us for the cost of financial accounting services we provide under the contracts. 5 Condensed financial information EQUI-VEST(SM) MODIFIED OREGON TSA CONTRACT
THE UNIT VALUES AND NUMBER OF UNITS OUTSTANDING SHOWN BELOW AS OF DECEMBER 31, 2007 ARE FOR CONTRACTS OFFERED UNDER SEPARATE ACCOUNT A WITH THE SAME DAILY ASSET CHARGE OF 0.90%. - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------------ 2001 2002 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Aggressive Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ AXA Conservative Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ AXA Conservative-Plus Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ AXA Moderate Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 99.46 $ 86.02 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 22 24 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Moderate-Plus Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Common Stock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 87.42 $ 57.75 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 54 51 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Intermediate Government Securities - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $118.06 $ 127.05 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein International - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 76.02 $ 67.72 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 8 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Large Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 71.03 $ 48.46 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Quality Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $118.44 $ 126.38 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 2 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Small Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $106.88 $ 73.89 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 2 2 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 95.39 $ 81.63 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 2 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AXA Rosenberg Value Long/Short Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/BlackRock Basic Value Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $131.84 $ 108.89 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 2 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/BlackRock International Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 76.66 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------------ 2003 2004 2005 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Aggressive Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 109.27 $ 121.06 $ 129.64 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 1 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Conservative Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 102.27 $ 107.45 $ 109.09 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Conservative-Plus Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 104.26 $ 111.33 $ 113.91 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 2 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Moderate Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 101.79 $ 110.51 $ 115.21 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 25 24 23 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Moderate-Plus Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 108.08 $ 119.63 $ 126.46 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 3 6 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Common Stock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 85.60 $ 96.80 $ 100.06 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 52 53 50 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Intermediate Government Securities - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 128.60 $ 129.91 $ 130.34 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 1 2 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein International - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 90.72 $ 106.24 $ 121.39 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 9 10 13 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Large Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 59.16 $ 63.54 $ 72.38 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 3 1 4 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Quality Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 129.67 $ 133.32 $ 134.77 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 3 3 4 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Small Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 103.19 $ 116.56 $ 128.81 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 3 3 4 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 104.15 $ 117.09 $ 122.34 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 5 2 13 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AXA Rosenberg Value Long/Short Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 108.95 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/BlackRock Basic Value Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 141.57 $ 155.12 $ 158.27 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 3 3 4 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/BlackRock International Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 97.27 $ 117.26 $ 128.80 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 5 1 10 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------------ 2006 2007 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Aggressive Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 151.47 $ 159.36 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 5 9 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Conservative Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 115.00 $ 120.57 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 2 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Conservative-Plus Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 122.77 $ 128.34 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 4 7 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Moderate Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 126.31 $ 133.43 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 22 19 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Moderate-Plus Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 143.50 $ 151.29 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 16 35 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Common Stock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 109.76 $ 112.55 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 43 29 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Intermediate Government Securities - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 133.20 $ 141.06 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 3 2 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein International - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 148.60 $ 164.52 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 12 11 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Large Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 71.34 $ 80.58 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 6 9 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Quality Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 138.66 $ 143.64 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 4 5 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Small Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 139.15 $ 160.90 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 4 4 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 147.18 $ 139.22 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 18 16 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AXA Rosenberg Value Long/Short Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 109.53 $ 112.11 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/BlackRock Basic Value Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 189.64 $ 190.15 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 4 4 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/BlackRock International Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 160.43 $ 175.18 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 14 20 - ------------------------------------------------------------------------------------------------------------------------------------
6
THE UNIT VALUES AND NUMBER OF UNITS OUTSTANDING SHOWN BELOW AS OF DECEMBER 31, 2007 ARE FOR CONTRACTS OFFERED UNDER SEPARATE ACCOUNT A WITH THE SAME DAILY ASSET CHARGE OF 0.90%. (CONTINUED) - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------------ 2001 2002 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Boston Advisors Equity Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Calvert Socially Responsible - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 87.65 $ 63.89 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 54.67 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Research - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $109.00 $ 81.38 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Caywood-Scholl High Yield Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Davis New York Venture - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Equity 500 Index - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 97.75 $ 75.18 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 7 7 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Evergreen International Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Evergreen Omega - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 76.81 $ 57.84 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/FI Mid Cap - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 85.92 $ 69.42 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Small Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Templeton Founding Strategy - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/GAMCO Mergers and Acquisitions - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/GAMCO Small Company Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/International Core PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 68.67 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/International Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------------ 2003 2004 2005 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Boston Advisors Equity Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 107.08 $ 112.64 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Calvert Socially Responsible - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 81.01 $ 83.16 $ 89.61 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 -- 2 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 67.15 $ 70.23 $ 73.16 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Research - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 106.04 $ 116.55 $ 122.50 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 7 2 14 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Caywood-Scholl High Yield Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 104.28 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Davis New York Venture - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Equity 500 Index - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 95.23 $ 104.03 $ 107.63 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 8 7 11 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Evergreen International Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 97.60 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Evergreen Omega - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 79.22 $ 84.03 $ 86.57 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 -- 2 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/FI Mid Cap - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 98.80 $ 113.60 $ 119.75 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 4 2 15 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Small Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Templeton Founding Strategy - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/GAMCO Mergers and Acquisitions - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 105.35 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/GAMCO Small Company Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 113.34 $ 117.17 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/International Core PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 90.25 $ 101.61 $ 117.94 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 -- 4 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/International Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 115.34 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------------ 2006 2007 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Boston Advisors Equity Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 129.46 $ 133.03 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 2 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Calvert Socially Responsible - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 93.45 $ 103.84 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 3 3 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 77.86 $ 81.39 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Research - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 136.03 $ 137.03 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 14 25 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Caywood-Scholl High Yield Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 111.58 $ 113.67 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Davis New York Venture - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 97.21 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Equity 500 Index - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 122.77 $ 127.68 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 12 11 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Evergreen International Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 100.03 $ 108.35 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Evergreen Omega - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 90.83 $ 100.21 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 3 2 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/FI Mid Cap - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 132.35 $ 141.69 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 19 24 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 104.43 $ 105.62 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 7 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Small Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 103.24 $ 98.12 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Templeton Founding Strategy - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 95.43 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/GAMCO Mergers and Acquisitions - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 117.15 $ 120.07 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/GAMCO Small Company Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 137.99 $ 149.46 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 2 5 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/International Core PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 139.38 $ 159.14 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 5 5 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/International Growth Unit value $ 143.61 $ 165.37 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 2 - ------------------------------------------------------------------------------------------------------------------------------------
7
THE UNIT VALUES AND NUMBER OF UNITS OUTSTANDING SHOWN BELOW AS OF DECEMBER 31, 2007 ARE FOR CONTRACTS OFFERED UNDER SEPARATE ACCOUNT A WITH THE SAME DAILY ASSET CHARGE OF 0.90%. (CONTINUED) - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------------ 2001 2002 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/JPMorgan Core Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 107.54 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/JPMorgan Value Opportunities - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 96.20 $ 77.17 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Large Cap Core PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 85.75 $ 67.12 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Large Cap Growth PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 87.46 $ 56.92 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 3 4 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Legg Mason Value Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Long Term Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Growth and Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Large Cap Core - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Mid Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Marsico Focus - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $105.94 $ 92.92 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Mid Cap Value PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $111.62 $ 94.35 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 2 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Money Market - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $103.17 $ 103.51 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Montag & Caldwell Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Mutual Shares - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Global - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Opportunity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Small Cap - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------------ 2003 2004 2005 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/JPMorgan Core Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 110.17 $ 113.65 $ 115.13 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 1 3 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/JPMorgan Value Opportunities - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 96.98 $ 106.56 $ 109.75 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 1 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Large Cap Core PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 81.18 $ 89.62 $ 95.21 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Large Cap Growth PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 72.94 $ 81.41 $ 87.96 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 4 4 5 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Legg Mason Value Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 106.52 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Long Term Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 100.29 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Growth and Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 106.30 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Large Cap Core - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 105.93 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Mid Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 111.82 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Marsico Focus - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 120.75 $ 132.24 $ 145.08 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 3 3 11 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Mid Cap Value PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 124.60 $ 145.52 $ 160.54 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 3 4 5 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Money Market - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 103.17 $ 103.03 $ 104.78 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 2 2 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Montag & Caldwell Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 104.76 $ 109.43 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Mutual Shares - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Global - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Opportunity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Small Cap - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------------ 2006 2007 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/JPMorgan Core Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 118.73 $ 121.31 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 4 6 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/JPMorgan Value Opportunities - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 130.93 $ 128.17 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Large Cap Core PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 106.56 $ 109.70 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Large Cap Growth PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 93.95 $ 107.65 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 5 3 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Legg Mason Value Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 112.77 $ 105.13 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Long Term Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 101.20 $ 107.70 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Growth and Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 123.48 $ 126.61 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Large Cap Core - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 118.30 $ 129.75 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Mid Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 124.58 $ 124.17 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 2 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Marsico Focus - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 157.18 $ 177.63 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 16 21 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Mid Cap Value PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 178.95 $ 174.50 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 4 4 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Money Market - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 108.50 $ 112.59 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Montag & Caldwell Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 117.07 $ 140.16 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Mutual Shares - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 107.25 $ 108.03 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Global - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 111.10 $ 116.38 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Opportunity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 95.45 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Small Cap - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 111.14 $ 108.19 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 - ------------------------------------------------------------------------------------------------------------------------------------
8
THE UNIT VALUES AND NUMBER OF UNITS OUTSTANDING SHOWN BELOW AS OF DECEMBER 31, 2007 ARE FOR CONTRACTS OFFERED UNDER SEPARATE ACCOUNT A WITH THE SAME DAILY ASSET CHARGE OF 0.90%. (CONTINUED) - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------------ 2001 2002 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/PIMCO Real Return - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Short Duration Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Small Company Index - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 81.92 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/T. Rowe Price Growth Stock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Templeton Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/UBS Growth and Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Comstock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Emerging Markets Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 111.05 $ 103.54 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Mid Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Real Estate - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Aggressive Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 55.54 $ 39.17 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 35 34 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Core Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 107.20 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Health Care - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 79.33 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager High Yield - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 77.17 $ 74.22 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 1 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager International Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 78.42 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Core Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 76.77 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 68.17 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------------ 2003 2004 2005 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/PIMCO Real Return - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 99.64 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Short Duration Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 100.09 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Small Company Index - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 118.42 $ 138.09 $ 142.68 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 1 5 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/T. Rowe Price Growth Stock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 111.33 $ 114.73 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Templeton Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/UBS Growth and Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 109.34 $ 118.12 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Comstock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 104.60 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Emerging Markets Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 160.00 $ 196.10 $ 258.05 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 1 2 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Mid Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 124.11 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Real Estate - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Aggressive Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 53.42 $ 59.44 $ 63.86 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 35 35 34 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Core Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 110.22 $ 113.47 $ 114.42 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 1 2 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Health Care - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 100.74 $ 111.95 $ 118.66 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 2 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager High Yield - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 90.15 $ 97.08 $ 99.16 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 2 2 5 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager International Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 104.39 $ 121.98 $ 139.55 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 -- 2 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Core Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 97.48 $ 105.95 $ 112.07 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 88.25 $ 93.28 $ 99.37 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 2 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------------ 2006 2007 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/PIMCO Real Return - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 99.13 $ 109.51 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 7 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Short Duration Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 103.12 $ 107.62 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Small Company Index - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 166.44 $ 161.92 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 6 7 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/T. Rowe Price Growth Stock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 109.14 $ 115.97 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 4 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Templeton Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 107.73 $ 108.98 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/UBS Growth and Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 133.62 $ 133.96 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Comstock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 120.15 $ 116.08 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Emerging Markets Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 350.50 $ 493.27 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 2 2 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Mid Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 134.38 $ 163.01 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 3 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Real Estate - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 83.06 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 9 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Aggressive Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 66.63 $ 73.67 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 29 21 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Core Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 117.67 $ 123.90 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 2 3 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Health Care - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 123.63 $ 133.49 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 3 3 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager High Yield - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 108.02 $ 110.41 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 5 5 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager International Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 173.31 $ 193.09 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 4 5 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Core Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 126.14 $ 131.25 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 98.58 $ 108.68 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 4 4 - ------------------------------------------------------------------------------------------------------------------------------------
9
THE UNIT VALUES AND NUMBER OF UNITS OUTSTANDING SHOWN BELOW AS OF DECEMBER 31, 2007 ARE FOR CONTRACTS OFFERED UNDER SEPARATE ACCOUNT A WITH THE SAME DAILY ASSET CHARGE OF 0.90%. (CONTINUED) - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------------ 2001 2002 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 79.44 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Mid Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 62.27 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Mid Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 74.03 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanage Small Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Small Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 114.07 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Technology - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 56.89 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Target 2015 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Target 2025 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Target 2035 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Target 2045 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------------ 2003 2004 2005 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 103.20 $ 117.02 $ 124.20 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 2 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Mid Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 86.54 $ 95.83 $ 102.93 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 -- 3 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Mid Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 103.15 $ 117.75 $ 125.26 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 -- 2 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanage Small Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 114.70 $ 122.18 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Small Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 155.30 $ 180.23 $ 186.98 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 2 -- 9 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Technology - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 88.87 $ 92.46 $ 101.96 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 2 6 - ------------------------------------------------------------------------------------------------------------------------------------ Target 2015 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Target 2025 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Target 2035 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Target 2045 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------------ 2006 2007 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 146.87 $ 150.84 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 2 3 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Mid Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 111.81 $ 123.99 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 3 4 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Mid Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 142.42 $ 141.27 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 2 3 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanage Small Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 133.44 $ 137.10 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 3 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Small Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 215.15 $ 192.22 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 10 13 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Technology - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 108.42 $ 127.01 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 6 6 - ------------------------------------------------------------------------------------------------------------------------------------ Target 2015 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 108.47 $ 115.27 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ Target 2025 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 109.42 $ 116.42 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Target 2035 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 110.31 $ 117.39 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ Target 2045 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 111.10 $ 118.69 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------
EQUI-VEST(SM) is issued by and is a service mark of AXA Equitable Life Insurance Company (AXA Equitable). Co-distributed by affiliates, AXA Advisors, LLC and AXA Distributors, LLC. 1290 Avenue of the Americas, New York, NY 10104. Copyright 2008 AXA Equitable Life Insurance Company. All rights reserved. AXA Equitable Life Insurance Company 1290 Avenue of the Americas New York, NY 10104 212-554-1234 10 AXA Equitable Life Insurance Company SUPPLEMENT DATED MAY 1, 2008, TO EQUI-VEST(SM) SERIES 200 EMPLOYER-SPONSORED RETIREMENT PROGRAMS, PROSPECTUS DATED MAY 1, 2008 - -------------------------------------------------------------------------------- This Supplement modifies certain information in the prospectus or supplement to prospectus dated May 1, 2008 (the "Prospectus") for EQUI-VEST(SM) Employer-Sponsored Retirement programs, deferred variable annuity contracts offered by AXA Equitable Life Insurance Company ("AXA Equitable"). AXA Equitable offers its EQUI-VEST(SM) Series 200 EDC contracts modified with riders 2002EDC-WC-MI and PF 10,962, as applicable, (the "Modified EDC Agreement") only to participants in the EDC plan for Wayne County, Michigan. This Supplement describes the material differences between the Modified EDC Agreement and the EQUI-VEST(SM) Series 200 EDC contracts described in the Prospectus. Terms in this Supplement have the same meaning as in the Prospectus. 1. Exceptions to the withdrawal charge. In "Charges and expenses" under the section titled, "For SEP, SARSEP, TSA, EDC and Annuitant-Owned HR-10 contracts," in "Withdrawal charge for series 100 and 200 contracts," the following exceptions are added: o the Participant retires pursuant to terms of the Plan; or o the Participant separates from service; or o the Participant elects a hardship withdrawal that qualifies as an unforeseeable emergency as defined under the Internal Revenue Code and approved by the Plan; or o we receive proof satisfactory to us that the Participant's life expectancy is six months or less (such proof must include, but is not limited to, certification by a licensed physician); or o the Participant has qualified to receive Social Security disability benefits as certified by the Social Security Administration or is totally disabled. Total disability is the Participant's incapacity, resulting from injury or disease, to engage in any occupation for remuneration or profit. Such total disability must be certified as having been continuous for a period of at least six months prior to notice of claim and the Participant must continue to be deemed totally disabled. Written notice of claim must be given to us during the Participant's lifetime and during the period of total disability prior to each withdrawal. Along with the Notice of Claim, the Participant must submit acceptable proof of disability. Such proof of disability must be either (a) evidence of Social Security disability determination or (b) a statement from an independent U.S. licensed physician stating that the Participant meets the definition of total disability as stated above. Such certification must be resubmitted every 12 months. Failure to furnish proof of disability within the required time will not reduce any claim if it was not reasonably possible to do so, and, in no event, except in the absence of legal capacity, later than one year from the time proof is otherwise required. The withdrawal charge will apply if the conditions, as described in the last two items above, existed at the time the contract was issued or if the condition began within the 12 month period following the issuance of the contract. 2. Annual administrative charge. The following is added to the fifth paragraph in the section, "Annual administrative charge," under "Charges under the contracts," in the Prospectus: For EDC contracts issued to participants in the Wayne County, Michigan, EDC plan, the annual administrative charge is waived if the account value is at least $15,000 at the end of the contract year. Because you are purchasing an annuity contract to fund a qualified employer sponsored retirement arrangement, you should be aware that such annuities do not provide tax deferral benefits beyond those already provided by the Internal Revenue Code. Before purchasing one of these annuities, you should consider whether its features and benefits beyond tax deferral meet your needs and goals. You may also want to consider the relative features, benefits and costs of these annuities with any other investment that you may use in connection with your retirement plan or arrangement. (For more information, see "Tax information," in the Prospectus). FOR USE ONLY WITH WAYNE COUNTY, MICHIGAN EDC CONTRACTS EQUI-VEST(SM) is issued by and is a service mark of AXA Equitable Life Insurance Company (AXA Equitable). Co-distributed by affiliates, AXA Advisors, LLC and AXA Distributors, LLC. 1290 Avenue of the Americas, New York, NY 10104. Copyright 2008 AXA Equitable Life Insurance Company. All rights reserved. AXA Equitable Life Insurance Company 1290 Avenue of the Americas New York, NY 10104 212-554-1234 x02017 AXA Equitable Life Insurance Company SUPPLEMENT DATED MAY 1, 2008, TO EQUI-VEST(SM) SERIES 200 EMPLOYER-SPONSORED RETIREMENT PROGRAMS PROSPECTUS DATED MAY 1, 2008 EQUI-VEST(SM) TSA and EDC contracts (Series 200) Offered to Certain Public School Employees Within the State of Virginia - -------------------------------------------------------------------------------- This Supplement modifies certain information contained in the May 1, 2008 prospectus or supplement to prospectus (the "Prospectus") for EQUI-VEST(SM) Employer-Sponsored Retirement Programs offered by AXA Equitable Life Insurance Company ("AXA Equitable"). AXA Equitable offers its EQUI-VEST(SM) Series 200 EDC and TSA contracts, modified as described below, (the "Modified EDC and TSA Agreement") only to certain participants in the EDC and TSA plans sponsored by a public education institution within the State of Virginia. This Supplement describes material regarding the annual administrative charge for EDC and TSA contracts. Terms in this Supplement have the same meaning as in the Prospectus. o Annual administrative charge. The following is added to the fifth paragraph in the section, "Annual administrative charge," under "Charges under the contracts," in the Prospectus: "For EDC and TSA contracts issued to certain public school participants within the State of Virginia, with EDC and TSA plans, the annual administrative charge is waived if the account value is at least $15,000 at the end of the contract year." Because you are purchasing an annuity contract to fund a qualified employer sponsored retirement arrangement, you should be aware that such annuities do not provide tax deferral benefits beyond those already provided by the Internal Revenue Code. Before purchasing one of these annuities, you should consider whether its features and benefits beyond tax deferral meet your needs and goals. You may also want to consider the relative features, benefits and costs of these annuities with any other investment that you may use in connection with your retirement plan or arrangement. (For more information, see "Tax information," in the Prospectus). FOR USE ONLY WITH EDC AND TSA CONTRACTS IN THE STATE OF VIRGINIA EQUI-VEST(SM) is issued by and is a service mark of AXA Equitable Life Insurance Company (AXA Equitable). Co-distributed by affiliates, AXA Advisors, LLC and AXA Distributors, LLC. 1290 Avenue of the Americas, New York, NY 10104. Copyright 2008 AXA Equitable Life Insurance Company. All rights reserved. AXA Equitable Life Insurance Company 1290 Avenue of the Americas New York, NY 10104 212-554-1234 x02018 AXA Equitable Life Insurance Company SUPPLEMENT DATED MAY 1, 2008 TO EQUI-VEST(SM) EMPLOYER-SPONSORED RETIREMENT PROGRAMS PROSPECTUS DATED MAY 1, 2008 For Employees of Employers Associated with Real Living Network - -------------------------------------------------------------------------------- This Supplement modifies certain information contained in the prospectus or supplement to prospectus dated May 1, 2008 ("Prospectus") as it relates to certain series 200 Trusteed Contracts offered by AXA Equitable Life Insurance Company ("AXA Equitable"). The Series 200 Trusteed Contracts, modified as described below (the "Modified Trusteed Contracts"), are offered to employees of employers associated with Real Living Network, a real estate brokerage firm, on the basis described in the Prospectus, except that the withdrawal charge applicable to the Modified Trusteed Contracts will be waived for all plan assets invested under such Contracts, except for any withdrawal of plan assets which were invested in the guaranteed interest option less than 120 days prior to such withdrawal. Except as modified above, the discussion under "Withdrawal charge for series 100 and 200 contracts" under "Charges and expenses" with respect to Trusteed Contracts is applicable to the Modified Trusteed Contracts. The annual administrative charge is waived. Because you are purchasing an annuity contract to fund a qualified employer sponsored retirement arrangement, you should be aware that such annuities do not provide tax deferral benefits beyond those already provided by the Internal Revenue Code. Before purchasing one of these annuities, you should consider whether its features and benefits beyond tax deferral meet your needs and goals. You may also want to consider the relative features, benefits and costs of these annuities with any other investment that you may use in connection with your retirement plan or arrangement. (For more information, see "Tax information," in the Prospectus). EQUI-VEST(SM) is issued by and is a service mark of AXA Equitable Life Insurance Company (AXA Equitable). Co-distributed by affiliates, AXA Advisors, LLC and AXA Distributors, LLC. 1290 Avenue of the Americas, New York, NY 10104. Copyright 2008 AXA Equitable Life Insurance Company. All rights reserved. AXA Equitable Life Insurance Company 1290 Avenue of the Americas New York, NY 10104 212-554-1234 x02019 AXA Equitable Life Insurance Company SUPPLEMENT DATED MAY 1, 2008 TO THE MAY 1, 2008 EQUI-VEST(SM) EMPLOYER-SPONSORED RETIREMENT PROGRAMS PROSPECTUS AND STATEMENT OF ADDITIONAL INFORMATION ("SAI") FOR: EQUI-VEST(SM) TSA SERIES 100 AND 200 CERTIFICATES AND CONTRACTS (THE "MODIFIED CONTRACTS") TO THE EMPLOYEES FOR THE SCHOOL DISTRICT OF PHILADELPHIA IN THE STATE OF PENNSYLVANIA. - -------------------------------------------------------------------------------- This Supplement modifies certain information in the above-referenced prospectus and SAI, as supplemented to date (together, the "Prospectus"), for EQUI-VEST(SM) employer-sponsored retirement programs offered by AXA Equitable Life Insurance Company ("AXA Equitable"). Unless otherwise indicated, all other information included in the Prospectus remains unchanged. The terms and section headings we use in this supplement have the same meaning as in the Prospectus. AXA Equitable offers the Modified Contracts described below to employees in the School District of Philadelphia 403(b) Plan in the State of Pennsylvania. This Supplement describes the material differences between the Modified Contracts and the EQUI-VEST(SM) series 100 and 200 contracts described in the Prospectus. Terms in this Supplement have the same meaning as in the Prospectus. Material differences between the Modified Contracts and the TSA provisions described in the series 100 and 200 prospectus include the following: A. Administrative charge. The annual administrative charge is waived; therefore, all references in the Prospectus to "annual administrative charge" or "administrative charge" are deleted in their entirety. B. Withdrawal charges. The following changes are made to reflect the changes in circumstances under which withdrawal charges are imposed: 1. The next to last bullet in "Additional features" under "EQUI-VEST(SM) employer-sponsored retirement programs at a glance - key features" is deleted in its entirety and replaced with the following: o Waiver of withdrawal charge under certain circumstances and contracts. See "Charges and expenses" later in this Prospectus. 2. In the section "Charges and expenses" of the Prospectus, under "Withdrawal charge for series 100 and 200 contracts," "For SEP, SARSEP, TSA, EDC and Annuitant-Owned HR-10 contracts," the following is added after the bullet under the heading "No withdrawal charge applies under a TSA or EDC (subject to state availability) contract if:" FOR THE MODIFIED CONTRACTS ONLY No withdrawal charge applies under TSA contracts if: o The participant separates from service at any time; o The participant has qualified to receive Social Security disability benefits as certified by the Social Security Administration or is totally disabled; o The participant makes a withdrawal to satisfy minimum distribution requirements; o The participant elects a withdrawal that qualifies as a hardship withdrawal under the Internal Revenue Code; o We receive proof satisfactory to us (including certification by a licensed physician) that the participant's life expectancy is six months or less; o The participant has been confined to a nursing home for more than 90 days (or such other period, as required in your state) as verified by a licensed physician. A nursing home for this purpose means one that is (a) approved by Medicare as a provider of skilled nursing care services, 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; -- its primary service is other than to provide housing for residents; or o The participant dies and a death benefit is payable to the beneficiary. FOR USE WITH TSA CERTIFICATES/CONTRACTS OF THE SCHOOL DISTRICT OF PHILADELPHIA PENNSYLVANIA 888-1401 (5/08) Catalog No. 136841 (5/08) x02020 Because you are purchasing an annuity contract to fund a qualified employer sponsored retirement arrangement, you should be aware that such annuities do not provide tax deferral benefits beyond those already provided by the Internal Revenue Code. Before purchasing one of these annuities, you should consider whether its features and benefits beyond tax deferral meet your needs and goals. You may also want to consider the relative features, benefits and costs of these annuities with any other investment that you may use in connection with your retirement plan or arrangement. (For more information, see "Tax information," in the Prospectus). EQUI-VEST(SM) is issued by and is a service mark of AXA Equitable Life Insurance Company (AXA Equitable). Co-distributed by affiliates, AXA Advisors, LLC and AXA Distributors, LLC. 1290 Avenue of the Americas, New York, NY 10104. Copyright 2008 AXA Equitable Life Insurance Company. All rights reserved. AXA Equitable Life Insurance Company 1290 Avenue of the Americas New York, NY 10104 212-554-1234 2 EQUI-VEST(SM) Employer-Sponsored Retirement Programs TSA ADVANTAGE(SM) SUPPLEMENT DATED MAY 1, 2008 TO THE PROSPECTUS DATED MAY 1, 2008 - -------------------------------------------------------------------------------- This supplement adds to and modifies certain information contained in the prospectus dated May 1, 2008 for the EQUI-VEST(SM) Employer-Sponsored Retirement Programs offered by AXA Equitable Life Insurance Company ("Prospectus"). We offer the series 600 TSA Advantage(SM) contract to fund all Section 403(b) plans sponsored by Section 501(c)(3) tax-exempt organizations, except those plans sponsored by primary or secondary schools. It is also available to post-secondary public educational institutions described in Section 403(b)(1)(A)(ii) of the Internal Revenue Code with more than 500 employees eligible to participate. For plans sponsored by a hospital or other health care organization qualified or intended to qualify under Section 501(c)(3) of the Internal Revenue Code, the TSA Advantage(SM) contract will be available only when the employer makes contributions to the 403(b) plan (whether on a matching or non-elective contribution basis) or makes a contribution to a plan qualified under 401(a) of the Internal Revenue Code, matching employee elective deferrals in the 403(b) plan. Under the TSA Advantage(SM) contract, contributions including rollover contributions and direct transfer contributions from existing Section 403(b) plans (programs or arrangements), may be accepted only if the contributions are fully vested under the existing TSA plan. The TSA Advantage(SM) contract may not currently be available in your state. Your financial professional can provide information about state availability. Currently, no new units will be permitted to enroll in the TSA Advantage (Series 600) product. New participants, however, can be enrolled into existing TSA Advantage units. For Section 403(b) plans offered for hospital and health care facility employees, non-salary reduction (employer contributions) must be made. TSA Advantage(SM) is available only to employees of employers that currently have, or within the first contract year are expected to have, at least 50 participants. Employees in Section 403(b) plans that do not meet these requirements are only eligible for TSA series 100 and 200 contracts. Subject to a written agreement between AXA Equitable and an employer sponsoring a 403(b) plan that uses an EQUI-VEST(SM) TSA Advantage(SM) contract as a funding vehicle for plan assets, AXA Equitable may reimburse that employer for certain expenses associated with that employer's plan, for example recordkeeping or other administrative services. Any such reimbursement will not exceed ten dollars for each EQUI-VEST(SM) TSA Advantage(SM) contract issued to a participant of that employer's 403(b) plan. See "Tax information" in the Prospectus for a more detailed discussion of sources of contributions, certain contribution limitations and other tax information for TSA contracts. We offer the EQUI-VEST(SM) TSA Advantage(SM) contract to purchasers on the same basis and under the same terms and conditions described in the Prospectus as those that apply to the EQUI-VEST(SM) series 100 and 200 TSA contracts, except for certain material differences. Terms we use in this supplement have the same meaning as in the prospectus, unless we indicate otherwise. Material differences between TSA Advantage(SM) and the provisions of the EQUI-VEST(SM) TSA series 100 and 200 contracts described in the Prospectus include the information, above as well as the following: Because you are purchasing an annuity contract as a Tax Sheltered Annuity (TSA), you should be aware that such annuities do not provide tax deferral benefits beyond those already provided by the Internal Revenue Code. Before purchasing one of these annuities, you should consider whether its features and benefits beyond tax deferral meet your needs and goals. You may also want to consider the relative features, benefits and costs of these annuities with any other investment that you may use in connection with your retirement plan or arrangement. (For more information, see "Tax information," in the Prospectus). X02021 - -------------------------------------------------------------------------------- The following is added to "EQUI-VEST(SM) employer-sponsored retirement programs at a glance -- key features" in "Fees and charges" in the Prospectus: - ------------------------------------------------------------------------------------------------------------------------------------ Fees and charges under series 600 o Daily charge on amounts invested in variable investment options for mortality and expense risks and other expenses at a current annual rate of 1.20% (2% maximum). o Annual administrative charge: $30 ($65 maximum) currently or, if less, 2% of the account value, less any amount withdrawn during the contract year. o Charge for third-party transfer (such as in the case of a direct rollover to a traditional IRA contract) or exchange (if your contract is exchanged for a 403(b)(1) contract issued by another insurance company): none currently ($65 maximum). o No sales charge deducted at the time you make contributions. o Withdrawal charge: We deduct a charge equal to 6% of the amount withdrawn or the defaulted loan amount in the first six contract years. The total of all withdrawal charges assessed may not exceed 8% of all contributions made in the first six contract years. Under certain circumstances, the withdrawal charge will not apply. They are discussed in "Charges and expenses" later in this supplement. o We deduct a charge designed to approximate certain taxes that may be imposed on us, such as premium taxes in your state. The charge is generally deducted from the amount applied to an annuity payout option. o We deduct an annuity administrative fee of $350 from amounts applied to a Variable Immediate Annuity payout option. This option is described in a separate prospectus that is available from your financial professional. o Annual expenses of the Trusts' portfolios are calculated as a percentage of the average daily net assets invested in each portfolio. Please see "Fee table" later in this prospectus for details.
2 Fee table - -------------------------------------------------------------------------------- The following tables describe the fees and expenses that you will pay when buying, owning, and surrendering the Series 600 TSA Advantage contract. Each of the charges and expenses is more fully described in "Charges and expenses" later in this Supplement. The first table describes fees and expenses that you will pay at the time that you surrender the contract, make certain withdrawals, purchase a Variable Immediate Annuity payout option or make certain transfers and exchanges. Charges designed to approximate certain taxes that may be imposed on us, such as premium taxes in your state, may also apply. Charges for certain features shown in the fee table are mutually exclusive. EQUI-VEST(SM) SERIES 600 CONTRACTS
- ------------------------------------------------------------------------------------------------------------------------------------ Charges we deduct from your account value at the time you request certain transactions - ------------------------------------------------------------------------------------------------------------------------------------ Maximum withdrawal charge as a percentage of the amount withdrawn (deducted if you surrender your contract or make certain withdrawals)(1) 6.00% - ------------------------------------------------------------------------------------------------------------------------------------ Charge if you elect a Variable Immediate Annuity payout option (which is described in a separate prospectus for that option) $350 - ------------------------------------------------------------------------------------------------------------------------------------ Charge for third-party transfer or exchange $65 maximum per occurrence; currently, none - ------------------------------------------------------------------------------------------------------------------------------------
The next table describes the fees and expenses that you will pay periodically during the time that you own the contract, not including underlying trust portfolio fees and expenses.
- ------------------------------------------------------------------------------------------------------------------------------------ Charges we deduct from your account value on each contract date anniversary - ------------------------------------------------------------------------------------------------------------------------------------ $65 maximum (currently $30) or, if less, 2% of your account value, less any amount previously withdrawn Annual administrative charge during the contract year - ------------------------------------------------------------------------------------------------------------------------------------ Charges we deduct from your variable investment options expressed as an annual percentage of daily net assets - ------------------------------------------------------------------------------------------------------------------------------------ Separate account annual expenses: Maximum Current ------- ------- Mortality and expense risk(2) 1.75% 0.95% Other expenses 0.25% 0.25% ----- ----- Total Separate Account A annual expenses 2.00% 1.20% - ------------------------------------------------------------------------------------------------------------------------------------
You also bear your proportionate share of all fees and expenses paid by a "portfolio" that corresponds to any variable investment option you are using. This table shows the lowest and highest total operating expenses charged by any of the portfolios that you will pay periodically during the time that you own the contract. These fees and expenses are reflected in the portfolio's net asset value each day. Therefore, they reduce the investment return of the portfolio and the related variable investment option. Actual fees and expenses are likely to fluctuate from year to year. More detail concerning each portfolio's fees and expenses is contained in the Trust prospectus for the portfolio.
- ------------------------------------------------------------------------------------------------------------------------------------ Portfolio operating expenses expressed as an annual percentage of daily net assets - ------------------------------------------------------------------------------------------------------------------------------------ Total Annual Portfolio Operating Expenses for 2007 (expenses that are Lowest Highest deducted from portfolio assets including management fees, 12b-1 fees, ------ ------- service fees, and/or other expenses)(3) 0.63% 3.71% - ------------------------------------------------------------------------------------------------------------------------------------
Fee table 3 This table shows the fees and expenses for 2007 as an annual percentage of each portfolio's daily average net assets.
- --------------------------------------------------------------------------------------------- Manage- ment 12b-1 Other Portfolio Name Fees(4) Fees(5) Expenses(6) - --------------------------------------------------------------------------------------------- AXA Premier VIP Trust: - --------------------------------------------------------------------------------------------- AXA Aggressive Allocation(a) 0.10% 0.25% 0.17% AXA Conservative Allocation(a) 0.10% 0.25% 0.21% AXA Conservative-Plus Allocation(a) 0.10% 0.25% 0.19% AXA Moderate Allocation(a) 0.10% 0.25% 0.17% AXA Moderate-Plus Allocation(a) 0.10% 0.25% 0.17% Multimanager Aggressive Equity 0.60% 0.25% 0.19% Multimanager Core Bond 0.58% 0.25% 0.18% Multimanager Health Care 1.20% 0.25% 0.23% Multimanager High Yield 0.57% 0.25% 0.19% Multimanager International Equity 1.00% 0.25% 0.23% Multimanager Large Cap Core Equity 0.89% 0.25% 0.21% Multimanager Large Cap Growth 0.90% 0.25% 0.22% Multimanager Large Cap Value 0.87% 0.25% 0.20% Multimanager Mid Cap Growth 1.10% 0.25% 0.20% Multimanager Mid Cap Value 1.09% 0.25% 0.20% Multimanager Small Cap Growth 1.05% 0.25% 0.27% Multimanager Small Cap Value 1.03% 0.25% 0.18% Multimanager Technology 1.20% 0.25% 0.22% Target 2015 Allocation 0.10% 0.25% 1.71% Target 2025 Allocation 0.10% 0.25% 1.41% Target 2035 Allocation 0.10% 0.25% 2.38% Target 2045 Allocation 0.10% 0.25% 2.81% - --------------------------------------------------------------------------------------------- EQ Advisors Trust: - --------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock 0.47% 0.25% 0.13% EQ/AllianceBernstein Intermediate Government Securities 0.50% 0.25% 0.13% EQ/AllianceBernstein International 0.71% 0.25% 0.18% EQ/AllianceBernstein Large Cap Growth 0.90% 0.25% 0.13% EQ/AllianceBernstein Quality Bond 0.50% 0.25% 0.14% EQ/AllianceBernstein Small Cap Growth 0.74% 0.25% 0.13% EQ/AllianceBernstein Value 0.59% 0.25% 0.12% EQ/AXA Rosenberg Value Long/Short Equity 1.40% 0.25% 1.91% EQ/BlackRock Basic Value Equity 0.55% 0.25% 0.13% EQ/BlackRock International Value 0.81% 0.25% 0.19% EQ/Boston Advisors Equity Income 0.75% 0.25% 0.14% EQ/Calvert Socially Responsible 0.65% 0.25% 0.23% EQ/Capital Guardian Growth 0.65% 0.25% 0.14% EQ/Capital Guardian Research 0.63% 0.25% 0.13% EQ/Caywood-Scholl High Yield Bond 0.60% 0.25% 0.16% EQ/Davis New York Venture 0.85% 0.25% 0.18% EQ/Equity 500 Index 0.25% 0.25% 0.13% EQ/Evergreen International Bond 0.70% 0.25% 0.17% EQ/Evergreen Omega 0.65% 0.25% 0.25% EQ/FI Mid Cap 0.68% 0.25% 0.13% EQ/Franklin Income 0.90% 0.25% 0.15% EQ/Franklin Small Cap Value 0.90% 0.25% 0.18% EQ/Franklin Templeton Founding Strategy 0.05% 0.25% 0.22% EQ/GAMCO Mergers and Acquisitions 0.90% 0.25% 0.19% EQ/GAMCO Small Company Value 0.76% 0.25% 0.12% EQ/International Core PLUS(e) 0.60% 0.25% 0.30% EQ/International Growth 0.85% 0.25% 0.27% EQ/JPMorgan Core Bond 0.43% 0.25% 0.13% EQ/JPMorgan Value Opportunities 0.60% 0.25% 0.14% EQ/Large Cap Core PLUS(b) 0.50% 0.25% 0.25% EQ/Large Cap Growth PLUS(c) 0.50% 0.25% 0.24% EQ/Legg Mason Value Equity 0.65% 0.25% 0.17% EQ/Long Term Bond 0.40% 0.25% 0.13% - --------------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------------------------------------- Total Acquired Annual Net Fund Expenses Fee Waiv- Annual Fees and (Before ers and/or Expenses Expenses Expense Expense (After (Underlying Limita- Reimburse- Expense Portfolio Name Portfolios)(7) tions) ments(8) Limitations) - -------------------------------------------------------------------------------------------------------------------- AXA Premier VIP Trust: - -------------------------------------------------------------------------------------------------------------------- AXA Aggressive Allocation(a) 0.92% 1.44% (0.17)% 1.27% AXA Conservative Allocation(a) 0.69% 1.25% (0.21)% 1.04% AXA Conservative-Plus Allocation(a) 0.76% 1.30% (0.19)% 1.11% AXA Moderate Allocation(a) 0.82% 1.34% (0.17)% 1.17% AXA Moderate-Plus Allocation(a) 0.86% 1.38% (0.17)% 1.21% Multimanager Aggressive Equity -- 1.04% -- 1.04% Multimanager Core Bond -- 1.01% (0.01)% 1.00% Multimanager Health Care -- 1.68% 0.00% 1.68% Multimanager High Yield -- 1.01% -- 1.01% Multimanager International Equity -- 1.48% 0.00% 1.48% Multimanager Large Cap Core Equity -- 1.35% 0.00% 1.35% Multimanager Large Cap Growth -- 1.37% (0.02)% 1.35% Multimanager Large Cap Value -- 1.32% 0.00% 1.32% Multimanager Mid Cap Growth -- 1.55% 0.00% 1.55% Multimanager Mid Cap Value -- 1.54% 0.00% 1.54% Multimanager Small Cap Growth -- 1.57% (0.02)% 1.55% Multimanager Small Cap Value -- 1.46% 0.00% 1.46% Multimanager Technology 0.01% 1.68% 0.00% 1.68% Target 2015 Allocation 0.55% 2.61% (1.46)% 1.15% Target 2025 Allocation 0.55% 2.31% (1.16)% 1.15% Target 2035 Allocation 0.55% 3.28% (2.13)% 1.15% Target 2045 Allocation 0.55% 3.71% (2.56)% 1.15% - -------------------------------------------------------------------------------------------------------------------- EQ Advisors Trust: - -------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock -- 0.85% -- 0.85% EQ/AllianceBernstein Intermediate Government Securities -- 0.88% -- 0.88% EQ/AllianceBernstein International -- 1.14% (0.04)% 1.10% EQ/AllianceBernstein Large Cap Growth -- 1.28% (0.23)% 1.05% EQ/AllianceBernstein Quality Bond -- 0.89% -- 0.89% EQ/AllianceBernstein Small Cap Growth -- 1.12% -- 1.12% EQ/AllianceBernstein Value -- 0.96% (0.01)% 0.95% EQ/AXA Rosenberg Value Long/Short Equity -- 3.56% 0.00% 3.56% EQ/BlackRock Basic Value Equity -- 0.93% 0.00% 0.93% EQ/BlackRock International Value -- 1.25% 0.00% 1.25% EQ/Boston Advisors Equity Income -- 1.14% (0.09)% 1.05% EQ/Calvert Socially Responsible -- 1.13% (0.08)% 1.05% EQ/Capital Guardian Growth 0.01% 1.05% (0.09)% 0.96% EQ/Capital Guardian Research -- 1.01% (0.06)% 0.95% EQ/Caywood-Scholl High Yield Bond -- 1.01% (0.01)% 1.00% EQ/Davis New York Venture -- 1.28% 0.00% 1.28% EQ/Equity 500 Index -- 0.63% -- 0.63% EQ/Evergreen International Bond -- 1.12% 0.00% 1.12% EQ/Evergreen Omega -- 1.15% 0.00% 1.15% EQ/FI Mid Cap -- 1.06% (0.06)% 1.00% EQ/Franklin Income -- 1.30% 0.00% 1.30% EQ/Franklin Small Cap Value -- 1.33% (0.03)% 1.30% EQ/Franklin Templeton Founding Strategy 1.05% 1.57% (0.12)% 1.45%(9) EQ/GAMCO Mergers and Acquisitions -- 1.34% 0.00% 1.34% EQ/GAMCO Small Company Value -- 1.13% 0.00% 1.13% EQ/International Core PLUS(e) 0.04% 1.19% (0.05)% 1.14% EQ/International Growth -- 1.37% 0.00% 1.37% EQ/JPMorgan Core Bond -- 0.81% 0.00% 0.81% EQ/JPMorgan Value Opportunities -- 0.99% (0.04)% 0.95% EQ/Large Cap Core PLUS(b) 0.02% 1.02% (0.05)% 0.97% EQ/Large Cap Growth PLUS(c) 0.02% 1.01% (0.04)% 0.97% EQ/Legg Mason Value Equity -- 1.07% (0.07)% 1.00% EQ/Long Term Bond -- 0.78% 0.00% 0.78% - --------------------------------------------------------------------------------------------------------------------
4 Fee table
- ------------------------------------------------------------------------------------------------------------------------------------ Total Acquired Annual Net Fund Expenses Fee Waiv- Annual Fees and (Before ers and/or Expenses Manage- Expenses Expense Expense (After ment 12b-1 Other (Underlying Limita- Reimburse- Expense Portfolio Name Fees(4) Fees(5) Expenses(6) Portfolios)(7) tions) ments(8) Limitations) - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Growth and Income 0.65% 0.25% 0.16% -- 1.06% (0.06)% 1.00% EQ/Lord Abbett Large Cap Core 0.65% 0.25% 0.21% -- 1.11% (0.11)% 1.00% EQ/Lord Abbett Mid Cap Value 0.70% 0.25% 0.15% -- 1.10% (0.05)% 1.05% EQ/Marsico Focus 0.85% 0.25% 0.13% -- 1.23% (0.08)% 1.15% EQ/Mid Cap Value PLUS(d) 0.55% 0.25% 0.24% 0.02% 1.06% (0.04)% 1.02% EQ/Money Market 0.32% 0.25% 0.13% -- 0.70% -- 0.70% EQ/Montag & Caldwell Growth 0.75% 0.25% 0.15% -- 1.15% 0.00% 1.15% EQ/Mutual Shares 0.90% 0.25% 0.21% -- 1.36% (0.06)% 1.30% EQ/Oppenheimer Global 0.95% 0.25% 0.51% 0.01% 1.72% (0.36)% 1.36% EQ/Oppenheimer Main Street Opportunity 0.85% 0.25% 0.45% 0.01% 1.56% (0.25)% 1.31% EQ/Oppenheimer Main Street Small Cap 0.90% 0.25% 0.48% 0.01% 1.64% (0.33)% 1.31% EQ/PIMCO Real Return 0.55% 0.25% 0.14% -- 0.94% (0.04)% 0.90% EQ/Short Duration Bond 0.43% 0.25% 0.15% -- 0.83% 0.00% 0.83% EQ/Small Company Index 0.25% 0.25% 0.14% -- 0.64% 0.00% 0.64% EQ/T. Rowe Price Growth Stock 0.79% 0.25% 0.14% -- 1.18% (0.03)% 1.15% EQ/Templeton Growth 0.95% 0.25% 0.20% -- 1.40% (0.05)% 1.35% EQ/UBS Growth and Income 0.75% 0.25% 0.16% -- 1.16% (0.11)% 1.05% EQ/Van Kampen Comstock 0.65% 0.25% 0.15% -- 1.05% (0.05)% 1.00% EQ/Van Kampen Emerging Markets Equity 1.11% 0.25% 0.28% -- 1.64% 0.00% 1.64% EQ/Van Kampen Mid Cap Growth 0.70% 0.25% 0.15% -- 1.10% (0.05)% 1.05% EQ/Van Kampen Real Estate 0.90% 0.25% 0.21% -- 1.36% (0.10)% 1.26% - ------------------------------------------------------------------------------------------------------------------------------------
Notes: (a) The AXA Allocation portfolios. (b) Formerly named "MarketPLUS Large Cap Core." (c) Formerly named "MarketPLUS Large Cap Growth." (d) Formerly named "MarketPLUS Mid Cap Value." (e) Formerly named "MarketPLUS International Core." (1) A portion of this charge is for providing the death benefit. (2) "Total Annual Portfolio Operating Expenses" are based, in part, on estimated amounts for options added during the fiscal year 2006 and for the underlying portfolios. (4) The management fees for each portfolio cannot be increased without a vote of that portfolio's shareholders. See footnote (8) for any expense limitation agreement information. (5) Portfolio shares are all subject to fees imposed under the distribution plans (the "Rule 12b-1 Plan") adopted by the Trusts pursuant to Rule 12b-1 under the Investment Company Act of 1940. For the portfolios of the AXA Premier VIP Trust and the EQ Advisors Trust, the 12b-1 fee will not be increased for the life of the contract. (6) The amounts shown as "Other Expenses" will fluctuate from year to year depending on actual expenses. See footnote (8) for any expense limitation agreement information. (7) Each of these variable investment options invests in a corresponding portfolio of one of the Trusts or other unaffiliated investment companies. Each portfolio, in turn, invests in shares of other portfolios of the Trusts and/or shares of unaffiliated portfolios ("underlying portfolios"). Amounts shown reflect each portfolio's pro rata share of the fees and expenses of the underlying portfolio(s) in which it invests. A "--" indicates that the listed portfolio does not invest in underlying portfolios. (8) The amounts shown reflect any fee waivers and/or expense reimbursements that apply to each portfolio. A "--" indicates that there is no expense limitation in effect, and "0.00%" indicates that the expense limitation arrangement did not result in a fee waiver or reimbursement. AXA Equitable, the investment manager of AXA Premier VIP Trust and EQ Advisors Trust, has entered into expense limitation agreements with respect to certain portfolios, which are effective through April 30, 2008 (unless the Board of Trustees of AXA Premier VIP Trust or EQ Advisors Trust, as applicable, consents to an earlier revision or termination of this arrangement). Under these agreements, AXA Equitable has agreed to waive or limit its fees and assume other expenses of certain portfolios, if necessary, in an amount that limits such portfolio's Total Annual Expenses (exclusive of interest, taxes, brokerage commissions, capitalized expenditures, expenses of the underlying portfolios in which the portfolio invests and extraordinary expenses) to not more than the amounts specified in the agreements. Therefore, each portfolio may at a later date make a reimbursement to AXA Equitable for any of the management fees waived or limited and other expenses assumed and paid by AXA Equitable pursuant to the expense limitation agreements provided that the portfolio's current annual operating expenses do not exceed the operating expense limit determined for such portfolio. See the prospectuses for each applicable underlying trust for more information about the arrangements. In addition, a portion of the brokerage commissions of certain portfolios of AXA Premier VIP Trust and EQ Advisors Trust is used to reduce the applicable portfolio's expenses. If the above table reflected both the expense limitation arrangements plus the portion of the brokerage commissions used to reduce portfolio expenses, the net expenses would be as shown in the table below: Fee table 5 --------------------------------------------- Portfolio Name: --------------------------------------------- Multimanager Aggressive Equity 0.97% Multimanager Health Care 1.67% Multimanager Large Cap Core Equity 1.34% Multimanager Large Cap Growth 1.29% Multimanager Large Cap Value 1.26% Multimanager Mid Cap Growth 1.52% Multimanager Mid Cap Value 1.53% Multimanager Small Cap Growth 1.35% Multimanager Small Cap Value 1.45% Multimanager Technology 1.67% EQ/AllianceBernstein Common Stock 0.84% EQ/AllianceBernstein Large Cap Growth 1.03% EQ/AllianceBernstein Small Cap Growth 1.11% EQ/AllianceBernstein Value 0.87% EQ/BlackRock Basic Value Equity 0.92% EQ/Davis New York Venture 1.25% EQ/Evergreen Omega 1.12% EQ/GAMCO Mergers and Acquisitions 1.33% EQ/GAMCO Small Company Value 1.10% EQ/International Core PLUS 1.05% EQ/Large Cap Core PLUS 0.83% EQ/Large Cap Growth PLUS 0.82% EQ/Legg Mason Value Equity 0.97% EQ/Lord Abbett Growth and Income 0.98% EQ/Lord Abbett Large Cap Core 0.99% EQ/Lord Abbett Mid Cap Value 1.04% EQ/Mid Cap Value PLUS 0.81% EQ/Montag & Caldwell Growth 1.13% EQ/T. Rowe Price Growth Stock 0.87% EQ/UBS Growth and Income 1.04% EQ/Van Kampen Comstock 0.99% EQ/Van Kampen Mid Cap Growth 1.04% --------------------------------------------- (9) In addition to the fee waiver and/or expense reimbursement discussed in the footnote immediately above, AXA Equitable, voluntarily will waive all its management and adminis tration fees and reimburse all other expenses associated with the EQ/Franklin Templeton Founding Strategy Portfolio ("Portfolio") (exclusive of taxes, interest, brokerage commissions, capitalized expenses, expenses of the investment companies in which the Portfolio invests, Rule 12b-1 fees and extraordinary expenses). Accordingly, the Total Annual Operating Expenses (including Acquired Fund Fees and Expenses), taking into account the voluntary waiver by AXA Equitable, will be 1.30%. The voluntary waiver by AXA Equitable will remain in effect until April 30, 2009. EXAMPLES: EQUI-VEST(SM) SERIES 600 CONTRACTS These examples are intended to help you compare the cost of investing in the series 600 TSA Advantage contract with the cost of investing in other variable annuity contracts. These costs include contract owner transaction expenses, contract fees, separate account annual expenses, and underlying Trust fees and expenses (including underlying portfolio fees and expenses). For a complete description of portfolio charges and expenses, please see the prospectus for each Trust. The examples below show the expenses that a hypothetical contract owner or participant, as applicable, would pay in the situations illustrated. The examples use an average annual administrative charge based on charges paid in 2007, which results in an estimated annual charge of 0.0643% of contract value. The fixed maturity options and the guaranteed interest option are not covered by the fee table and examples. However, the annual administrative charge, the withdrawal charge, the third party transfer or exchange charge, and the charge if you elect a Variable Immediate Annuity payout option do apply to the fixed maturity options and the guaranteed interest option. A market value adjustment (up or down) may apply as a result of a withdrawal, transfer, or surrender of amounts from a fixed maturity option. These examples should not be considered a representation of past or future expenses for any option. 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. The examples assume that you invest $10,000 in the contract for the time periods indicated. The examples also assume that your investment has a 5% return each year. Although your actual costs may be higher or lower, based on these assumptions, your costs would be: The examples assume that you invest $10,000 in the certificate for the time periods indicated and that your investment has a 5% return each year. The examples also assume (i) maximum contract charges rather than the lower current expenses discussed in "Charges and expenses" later in this supplement (except the annual administrative charge which is described above); (ii) the total annual expenses of the portfolios (before expense limitations) set forth in the previous tables; and (iii) there is no waiver of the withdrawal charge. Although your actual costs may be higher or lower, based on these assumptions, your costs would be: 6 Fee table
- ------------------------------------------------------------------------------------------------------ If you surrender your contract at the end of the applicable time period - ------------------------------------------------------------------------------------------------------ 1 year 3 years 5 years 10 years - ------------------------------------------------------------------------------------------------------ AXA PREMIER VIP TRUST: - ------------------------------------------------------------------------------------------------------ AXA Aggressive Allocation $ 915 $1,680 $2,465 $3,904 AXA Conservative Allocation $ 896 $1,624 $2,375 $3,726 AXA Conservative-Plus Allocation $ 901 $1,639 $2,399 $3,773 AXA Moderate Allocation $ 905 $1,651 $2,418 $3,811 AXA Moderate-Plus Allocation $ 909 $1,662 $2,436 $3,848 Multimanager Aggressive Equity $ 875 $1,563 $2,275 $3,525 Multimanager Core Bond $ 872 $1,554 $2,261 $3,496 Multimanager Health Care $ 939 $1,749 $2,577 $4,124 Multimanager High Yield $ 872 $1,554 $2,261 $3,496 Multimanager International Equity $ 919 $1,691 $2,483 $3,941 Multimanager Large Cap Core Equity $ 906 $1,653 $2,422 $3,820 Multimanager Large Cap Growth $ 908 $1,659 $2,432 $3,839 Multimanager Large Cap Value $ 903 $1,645 $2,408 $3,792 Multimanager Mid Cap Growth $ 926 $1,711 $2,516 $4,005 Multimanager Mid Cap Value $ 925 $1,708 $2,511 $3,996 Multimanager Small Cap Growth $ 928 $1,717 $2,525 $4,024 Multimanager Small Cap Value $ 917 $1,685 $2,474 $3,922 Multimanager Technology $ 939 $1,749 $2,577 $4,124 Target 2015 Allocation $1,031 $2,014 $3,000 $4,926 Target 2025 Allocation $1,001 $1,929 $2,865 $4,676 Target 2035 Allocation $1,098 $2,202 $3,294 $5,457 Target 2045 Allocation $1,140 $2,322 $3,478 $5,778 - ------------------------------------------------------------------------------------------------------ EQ ADVISORS TRUST: - ------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Common Stock $ 856 $1,507 $2,184 $3,340 EQ/AllianceBernstein Intermediate Government Securities $ 859 $1,516 $2,199 $3,369 EQ/AllianceBernstein International $ 885 $1,592 $2,323 $3,621 EQ/AllianceBernstein Large Cap Growth $ 899 $1,633 $2,389 $3,754 EQ/AllianceBernstein Quality Bond $ 860 $1,519 $2,203 $3,379 EQ/AllianceBernstein Small Cap Growth $ 883 $1,586 $2,313 $3,602 EQ/AllianceBernstein Value $ 867 $1,540 $2,237 $3,447 EQ/AXA Rosenberg Value Long/Short Equity $1,125 $2,280 $3,414 $5,668 EQ/BlackRock Basic Value Equity $ 864 $1,531 $2,223 $3,418 EQ/BlackRock International Value $ 896 $1,624 $2,375 $3,726 EQ/Boston Advisors Equity Income $ 885 $1,592 $2,323 $3,621 EQ/Calvert Socially Responsible $ 884 $1,589 $2,318 $3,612 EQ/Capital Guardian Growth $ 876 $1,566 $2,280 $3,535 EQ/Capital Guardian Research $ 872 $1,554 $2,261 $3,496 EQ/Caywood-Scholl High Yield Bond $ 872 $1,554 $2,261 $3,496 EQ/Davis New York Venture $ 899 $1,633 $2,389 $3,754 EQ/Equity 500 Index $ 834 $1,443 $2,078 $3,120 EQ/Evergreen International Bond $ 883 $1,586 $2,313 $3,602 EQ/Evergreen Omega $ 886 $1,595 $2,328 $3,631 EQ/FI Mid Cap $ 877 $1,569 $2,285 $3,544 EQ/Franklin Income $ 901 $1,639 $2,399 $3,773 EQ/Franklin Small Cap Value $ 904 $1,648 $2,413 $3,801 EQ/Franklin Templeton Founding Strategy $ 928 $1,717 $2,525 $4,024 - ------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------ If you annuitize at the end of the applicable time period(1) - ------------------------------------------------------------------------------------------------------ 1 year 3 years 5 years 10 years - ------------------------------------------------------------------------------------------------------ AXA PREMIER VIP TRUST: - ------------------------------------------------------------------------------------------------------ AXA Aggressive Allocation N/A $1,680 $2,465 $3,904 AXA Conservative Allocation N/A $1,624 $2,375 $3,726 AXA Conservative-Plus Allocation N/A $1,639 $2,399 $3,773 AXA Moderate Allocation N/A $1,651 $2,418 $3,811 AXA Moderate-Plus Allocation N/A $1,662 $2,436 $3,848 Multimanager Aggressive Equity N/A $1,563 $2,275 $3,525 Multimanager Core Bond N/A $1,554 $2,261 $3,496 Multimanager Health Care N/A $1,749 $2,577 $4,124 Multimanager High Yield N/A $1,554 $2,261 $3,496 Multimanager International Equity N/A $1,691 $2,483 $3,941 Multimanager Large Cap Core Equity N/A $1,653 $2,422 $3,820 Multimanager Large Cap Growth N/A $1,659 $2,432 $3,839 Multimanager Large Cap Value N/A $1,645 $2,408 $3,792 Multimanager Mid Cap Growth N/A $1,711 $2,516 $4,005 Multimanager Mid Cap Value N/A $1,708 $2,511 $3,996 Multimanager Small Cap Growth N/A $1,717 $2,525 $4,024 Multimanager Small Cap Value N/A $1,685 $2,474 $3,922 Multimanager Technology N/A $1,749 $2,577 $4,124 Target 2015 Allocation N/A $2,014 $3,000 $4,926 Target 2025 Allocation N/A $1,929 $2,865 $4,676 Target 2035 Allocation N/A $2,202 $3,294 $5,457 Target 2045 Allocation N/A $2,322 $3,478 $5,778 - ------------------------------------------------------------------------------------------------------ EQ ADVISORS TRUST: - ------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Common Stock N/A $1,507 $2,184 $3,340 EQ/AllianceBernstein Intermediate Government Securities N/A $1,516 $2,199 $3,369 EQ/AllianceBernstein International N/A $1,592 $2,323 $3,621 EQ/AllianceBernstein Large Cap Growth N/A $1,633 $2,389 $3,754 EQ/AllianceBernstein Quality Bond N/A $1,519 $2,203 $3,379 EQ/AllianceBernstein Small Cap Growth N/A $1,586 $2,313 $3,602 EQ/AllianceBernstein Value N/A $1,540 $2,237 $3,447 EQ/AXA Rosenberg Value Long/Short Equity N/A $2,280 $3,414 $5,668 EQ/BlackRock Basic Value Equity N/A $1,531 $2,223 $3,418 EQ/BlackRock International Value N/A $1,624 $2,375 $3,726 EQ/Boston Advisors Equity Income N/A $1,592 $2,323 $3,621 EQ/Calvert Socially Responsible N/A $1,589 $2,318 $3,612 EQ/Capital Guardian Growth N/A $1,566 $2,280 $3,535 EQ/Capital Guardian Research N/A $1,554 $2,261 $3,496 EQ/Caywood-Scholl High Yield Bond N/A $1,554 $2,261 $3,496 EQ/Davis New York Venture N/A $1,633 $2,389 $3,754 EQ/Equity 500 Index N/A $1,443 $2,078 $3,120 EQ/Evergreen International Bond N/A $1,586 $2,313 $3,602 EQ/Evergreen Omega N/A $1,595 $2,328 $3,631 EQ/FI Mid Cap N/A $1,569 $2,285 $3,544 EQ/Franklin Income N/A $1,639 $2,399 $3,773 EQ/Franklin Small Cap Value N/A $1,648 $2,413 $3,801 EQ/Franklin Templeton Founding Strategy N/A $1,717 $2,525 $4,024 - ------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------ If you do not surrender your contract at the end of the applicable time period - ------------------------------------------------------------------------------------------------------ 1 year 3 years 5 years 10 years - ------------------------------------------------------------------------------------------------------ AXA PREMIER VIP TRUST: - ------------------------------------------------------------------------------------------------------ AXA Aggressive Allocation $368 $1,118 $1,888 $3,904 AXA Conservative Allocation $348 $1,059 $1,793 $3,726 AXA Conservative-Plus Allocation $353 $1,075 $1,818 $3,773 AXA Moderate Allocation $357 $1,087 $1,838 $3,811 AXA Moderate-Plus Allocation $361 $1,099 $1,858 $3,848 Multimanager Aggressive Equity $326 $ 994 $1,686 $3,525 Multimanager Core Bond $323 $ 985 $1,671 $3,496 Multimanager Health Care $393 $1,191 $2,007 $4,124 Multimanager High Yield $323 $ 985 $1,671 $3,496 Multimanager International Equity $372 $1,130 $1,908 $3,941 Multimanager Large Cap Core Equity $358 $1,090 $1,843 $3,820 Multimanager Large Cap Growth $360 $1,096 $1,853 $3,839 Multimanager Large Cap Value $355 $1,081 $1,828 $3,792 Multimanager Mid Cap Growth $379 $1,152 $1,943 $4,005 Multimanager Mid Cap Value $378 $1,149 $1,938 $3,996 Multimanager Small Cap Growth $381 $1,158 $1,953 $4,024 Multimanager Small Cap Value $370 $1,124 $1,898 $3,922 Multimanager Technology $393 $1,191 $2,007 $4,124 Target 2015 Allocation $490 $1,473 $2,457 $4,926 Target 2025 Allocation $459 $1,383 $2,314 $4,676 Target 2035 Allocation $561 $1,672 $2,770 $5,457 Target 2045 Allocation $606 $1,799 $2,966 $5,778 - ------------------------------------------------------------------------------------------------ EQ ADVISORS TRUST: - ------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Common Stock $306 $ 935 $1,590 $3,340 EQ/AllianceBernstein Intermediate Government Securities $309 $ 945 $1,605 $3,369 EQ/AllianceBernstein International $336 $1,025 $1,737 $3,621 EQ/AllianceBernstein Large Cap Growth $351 $1,069 $1,808 $3,754 EQ/AllianceBernstein Quality Bond $310 $ 948 $1,610 $3,379 EQ/AllianceBernstein Small Cap Growth $334 $1,019 $1,727 $3,602 EQ/AllianceBernstein Value $317 $ 970 $1,646 $3,447 EQ/AXA Rosenberg Value Long/Short Equity $590 $1,755 $2,898 $5,668 EQ/BlackRock Basic Value Equity $314 $ 960 $1,630 $3,418 EQ/BlackRock International Value $348 $1,059 $1,793 $3,726 EQ/Boston Advisors Equity Income $336 $1,025 $1,737 $3,621 EQ/Calvert Socially Responsible $335 $1,022 $1,732 $3,612 EQ/Capital Guardian Growth $327 $ 997 $1,692 $3,535 EQ/Capital Guardian Research $323 $ 985 $1,671 $3,496 EQ/Caywood-Scholl High Yield Bond $323 $ 985 $1,671 $3,496 EQ/Davis New York Venture $351 $1,069 $1,808 $3,754 EQ/Equity 500 Index $283 $ 867 $1,476 $3,120 EQ/Evergreen International Bond $334 $1,019 $1,727 $3,602 EQ/Evergreen Omega $337 $1,028 $1,742 $3,631 EQ/FI Mid Cap $328 $1,001 $1,697 $3,544 EQ/Franklin Income $353 $1,075 $1,818 $3,773 EQ/Franklin Small Cap Value $356 $1,084 $1,833 $3,801 EQ/Franklin Templeton Founding Strategy $381 $1,158 $1,953 $4,024 - ------------------------------------------------------------------------------------------------
Fee table 7
- ------------------------------------------------------------------------------------------------------------------------------------ If you surrender your contract at the end If you annuitize at the end of the applicable time period of the applicable time period(1) - ------------------------------------------------------------------------------------------------------------------------------------ 1 year 3 years 5 years 10 years 1 year 3 years 5 years 10 years - ------------------------------------------------------------------------------------------------------------------------------------ EQ/GAMCO Mergers and Acquisitions $905 $1,651 $2,418 $3,811 N/A $1,651 $2,418 $3,811 EQ/GAMCO Small Company Value $884 $1,589 $2,318 $3,612 N/A $1,589 $2,318 $3,612 EQ/International Core PLUS $890 $1,607 $2,347 $3,669 N/A $1,607 $2,347 $3,669 EQ/International Growth $908 $1,659 $2,432 $3,839 N/A $1,659 $2,432 $3,839 EQ/JPMorgan Core Bond $852 $1,496 $2,165 $3,300 N/A $1,496 $2,165 $3,300 EQ/JPMorgan Value Opportunities $870 $1,548 $2,251 $3,477 N/A $1,548 $2,251 $3,477 EQ/Large Cap Core PLUS $873 $1,557 $2,266 $3,506 N/A $1,557 $2,266 $3,506 EQ/Large Cap Growth PLUS $872 $1,554 $2,261 $3,496 N/A $1,554 $2,261 $3,496 EQ/Legg Mason Value Equity $878 $1,572 $2,290 $3,554 N/A $1,572 $2,290 $3,554 EQ/Long Term Bond $849 $1,487 $2,150 $3,270 N/A $1,487 $2,150 $3,270 EQ/Lord Abbett Growth and Income $877 $1,569 $2,285 $3,544 N/A $1,569 $2,285 $3,544 EQ/Lord Abbett Large Cap Core $882 $1,584 $2,309 $3,593 N/A $1,584 $2,309 $3,593 EQ/Lord Abbett Mid Cap Value $881 $1,581 $2,304 $3,583 N/A $1,581 $2,304 $3,583 EQ/Marsico Focus $894 $1,619 $2,366 $3,707 N/A $1,619 $2,366 $3,707 EQ/Mid Cap Value PLUS $877 $1,569 $2,285 $3,544 N/A $1,569 $2,285 $3,544 EQ/Money Market $841 $1,463 $2,112 $3,191 N/A $1,463 $2,112 $3,191 EQ/Montag & Caldwell Growth $886 $1,595 $2,328 $3,631 N/A $1,595 $2,328 $3,631 EQ/Mutual Shares $907 $1,656 $2,427 $3,829 N/A $1,656 $2,427 $3,829 EQ/Oppenheimer Global $943 $1,760 $2,595 $4,160 N/A $1,760 $2,595 $4,160 EQ/Oppenheimer Main Street Opportunity $927 $1,714 $2,521 $4,015 N/A $1,714 $2,521 $4,015 EQ/Oppenheimer Main Street Small Cap $935 $1,737 $2,558 $4,088 N/A $1,737 $2,558 $4,088 EQ/PIMCO Real Return $865 $1,534 $2,227 $3,428 N/A $1,534 $2,227 $3,428 EQ/Short Duration Bond $854 $1,502 $2,174 $3,320 N/A $1,502 $2,174 $3,320 EQ/Small Company Index $835 $1,446 $2,083 $3,130 N/A $1,446 $2,083 $3,130 EQ/T. Rowe Price Growth Stock $889 $1,604 $2,342 $3,659 N/A $1,604 $2,342 $3,659 EQ/Templeton Growth $911 $1,668 $2,446 $3,867 N/A $1,668 $2,446 $3,867 EQ/UBS Growth and Income $887 $1,598 $2,332 $3,640 N/A $1,598 $2,332 $3,640 EQ/Van Kampen Comstock $876 $1,566 $2,280 $3,535 N/A $1,566 $2,280 $3,535 EQ/Van Kampen Emerging Markets Equity $935 $1,737 $2,558 $4,088 N/A $1,737 $2,558 $4,088 EQ/Van Kampen Mid Cap Growth $881 $1,581 $2,304 $3,583 N/A $1,581 $2,304 $3,583 EQ/Van Kampen Real Estate $907 $1,656 $2,427 $3,829 N/A $1,656 $2,427 $3,829 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------- If you do not surrender your contract at the end of the applicable time period - ------------------------------------------------------------------------------------- 1 year 3 years 5 years 10 years - ------------------------------------------------------------------------------------- EQ/GAMCO Mergers and Acquisitions $357 $1,087 $1,838 $3,811 EQ/GAMCO Small Company Value $335 $1,022 $1,732 $3,612 EQ/International Core PLUS $341 $1,041 $1,762 $3,669 EQ/International Growth $360 $1,096 $1,853 $3,839 EQ/JPMorgan Core Bond $302 $ 923 $1,569 $3,300 EQ/JPMorgan Value Opportunities $320 $ 979 $1,661 $3,477 EQ/Large Cap Core PLUS $324 $ 988 $1,676 $3,506 EQ/Large Cap Growth PLUS $323 $ 985 $1,671 $3,496 EQ/Legg Mason Value Equity $329 $1,004 $1,702 $3,554 EQ/Long Term Bond $298 $ 914 $1,554 $3,270 EQ/Lord Abbett Growth and Income $328 $1,001 $1,697 $3,544 EQ/Lord Abbett Large Cap Core $333 $1,016 $1,722 $3,593 EQ/Lord Abbett Mid Cap Value $332 $1,013 $1,717 $3,583 EQ/Marsico Focus $346 $1,053 $1,783 $3,707 EQ/Mid Cap Value PLUS $328 $1,001 $1,697 $3,544 EQ/Money Market $290 $ 889 $1,513 $3,191 EQ/Montag & Caldwell Growth $337 $1,028 $1,742 $3,631 EQ/Mutual Shares $359 $1,093 $1,848 $3,829 EQ/Oppenheimer Global $397 $1,204 $2,027 $4,160 EQ/Oppenheimer Main Street Opportunity $380 $1,155 $1,948 $4,015 EQ/Oppenheimer Main Street Small Cap $389 $1,179 $1,987 $4,088 EQ/PIMCO Real Return $315 $ 963 $1,636 $3,428 EQ/Short Duration Bond $304 $ 929 $1,579 $3,320 EQ/Small Company Index $284 $ 870 $1,482 $3,130 EQ/T. Rowe Price Growth Stock $340 $1,038 $1,757 $3,659 EQ/Templeton Growth $364 $1,106 $1,868 $3,867 EQ/UBS Growth and Income $338 $1,032 $1,747 $3,640 EQ/Van Kampen Comstock $327 $ 997 $1,692 $3,535 EQ/Van Kampen Emerging Markets Equity $389 $1,179 $1,987 $4,088 EQ/Van Kampen Mid Cap Growth $332 $1,013 $1,717 $3,583 EQ/Van Kampen Real Estate $359 $1,093 $1,848 $3,829 - -------------------------------------------------------------------------------------
(1) Please see "When withdrawal charges do not apply" in "Charges and expenses" in the Prospectus and "Exceptions to the withdrawal charge" later in this supplement for more information on withdrawal charge waivers upon annuitization. 8 Fee table CONDENSED FINANCIAL INFORMATION Please see the Appendix at the end of this Supplement for unit values and number of units outstanding as of the period shown for each of the variable investment options, available as of December 31, 2007. Fee table 9 THE FOLLOWING IS ADDED AFTER THE INFORMATION UNDER "FOR ALL SERIES CONTRACTS ISSUED IN NEW YORK -- FIXED MATURITY OPTIONS*" IN "CHARGES AND EXPENSES" IN THE PROSPECTUS: Charges and expenses - -------------------------------------------------------------------------------- CHARGES UNDER SERIES 600 CONTRACTS MORTALITY AND EXPENSE RISKS CHARGE We deduct a daily charge from the net assets in each variable investment option to compensate us for mortality and expense risks, including the death benefit. The daily charge is equivalent to a current annual rate of 0.95% (1.75% maximum) of the net assets in each variable investment option. The mortality risk we assume is the risk that annuitants as a group will live for a longer time than our actuarial tables predict. If that happens, we would be paying more in annuity benefits than we planned. We also assume a risk that the mortality assumptions reflected in our guaranteed annuity tables, shown in each contract, will differ from actual mortality experience. We may change the actuarial basis for our guaranteed annuity payment tables, but only for new contributions and only at five year intervals from the contract date. Lastly, we assume a mortality risk to the extent that at the time of death, the guaranteed death benefit exceeds the cash value of the contract. In addition, we waive any withdrawal charge upon payment of a death benefit. The expense risk we assume is the risk that it will cost us more to issue and administer the contracts than we expect. To the extent that the mortality and expense risk charges are not needed to cover the actual expenses incurred, they may be considered an indirect reimbursement for certain sales and promotional expenses relating to the contracts. CHARGE FOR OTHER EXPENSES We deduct this daily charge from the net assets in each variable investment option. This charge, together with the annual administrative charge described below, is for providing administrative and financial accounting services under the contracts. The daily charge is equivalent to a maximum annual rate of 0.25% of the net assets in each variable investment option. MAXIMUM TOTAL CHARGES. The total annual rate for the above charges is currently 1.20%. We may increase or decrease this total annual rate, but we may not increase it above a maximum rate of 2.00%. We will only make any increase after we have sent you advance notice. Any increase or decrease will apply only after the date of the change. Any changes we make will reflect differences in costs and anticipated expenses, and will not be unfairly discriminatory. ANNUAL ADMINISTRATIVE CHARGE We deduct an administrative charge from your account value on the last day of each contract year. We will deduct a pro rata portion of the charge if you surrender your contract, elect an annuity payout option, or the annuitant dies during the contract year. We deduct the charge if your account value on the last day of the contract year is less than $25,000 for TSA Advantage(SM) contracts. If your account value on such date is $25,000 or more for TSA Advantage contracts, we do not deduct the charge. The current charge is equal to $30 or, if less, 2% of your current account value plus any amount previously withdrawn during that contract year. We may increase this charge if our administrative costs rise, but the charge will never exceed $65 annually. We reserve the right to deduct this charge on a quarterly, rather than annual basis. Also, we may reduce or eliminate the administrative charge when a TSA Advantage(SM) contract is used by an employer and administrative services are performed by us at a modified or minimum level. Any reduction or waiver we make will not be unfairly discriminatory. The charge is deducted pro rata from the variable investment options and the guaranteed interest option. If these amounts are insufficient, we will make up the required amounts from the fixed maturity options to the extent you have value in those options, unless you tell us otherwise. We currently waive the annual administrative charge that would otherwise be deducted in the next contract year under any individually owned EQUI-VEST(SM) contract/certificate having an account value that, when combined with the account value of other EQUI-VEST(SM) contracts/certificates owned by the same person, exceeds $100,000 in the aggregate (as determined in January of each year). This does not apply to EQUI-VEST(SM) contracts/certificates owned by different members of the same household. We may change or discontinue this practice at any time without prior notice. CHARGE FOR THIRD-PARTY TRANSFER OR EXCHANGE There currently is no third-party transfer (such as in the case of direct rollover to a traditional IRA contract) or exchange (if your contract is exchanged for a 403(b)(1) contract issued by another insurance company) charge for series 600 contracts. We reserve the right to impose this charge in the future, but it may not exceed a maximum of $65 per occurrence, subject to any law that applies. 10 Charges and expenses WITHDRAWAL CHARGE FOR SERIES 600 CONTRACTS A withdrawal charge may apply in three circumstances: (1) you make one or more withdrawals during a contract year; or (2) you terminate your contract; or (3) we terminate your contract. The amount of the charge will depend on whether the free withdrawal amount applies, and the availability of one or more exceptions. In order to give you the exact dollar amount of the withdrawal you request, we deduct the amount of the withdrawal and the amount of the withdrawal charges from your account value. Any amount deducted to pay withdrawal charges is also subject to a withdrawal charge. We deduct the withdrawal amount and the withdrawal charge pro rata from the variable investment options and from the guaranteed interest option. If these amounts are insufficient we will make up the required amounts from the fixed maturity options with the earliest maturity date(s) first. If we deduct all or a portion of the withdrawal charge from the fixed maturity options, a market value adjustment will apply. The amount of the withdrawal charge we deduct is equal to 6% of the amount withdrawn or the defaulted loan amount during the first six contract years. In the case of a surrender, we will pay you the greater of (i) the account value after any withdrawal charge has been imposed, or (ii) the free withdrawal amount plus 94% of the remaining account value. Also, the total of all withdrawal charges assessed will not exceed 8% of all contributions made in the first six contract years. 10% FREE WITHDRAWAL AMOUNT. Each contract year, you can withdraw up to 10% of your account value without paying a withdrawal charge. The 10% free withdrawal amount is determined using your account value at the time you request a withdrawal, minus any other withdrawals made during the contract year. EXCEPTIONS TO THE WITHDRAWAL CHARGE. A withdrawal charge will not apply upon any of the events listed below: o The annuitant retires under the terms of the 403(b) plan, or separates from service; o The annuitant reaches age 59-1/2 and completes at least five contract years; o The annuitant dies and a death benefit is payable to the beneficiary; o We receive a properly completed election form providing for the account value to be used to buy a life annuity; o The annuitant reaches age 55 and completes at least five contract years and we receive a properly completed election form providing for the account value to be used to buy a period certain annuity. The period certain annuity must extend beyond the annuitant's age 59-1/2 and must not permit any prepayment of the unpaid principal before the annuitant reaches age 59-1/2; o The annuitant completes at least three contract years and we receive a properly completed election form providing for the 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 90 days (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 federal income tax rules. Charges and expenses 11 Appendix I: Condensed financial information - -------------------------------------------------------------------------------- The unit values and number of units outstanding shown below are for contracts offered under Separate Account A with the same daily asset charge of 1.20%. SERIES 600 CONTRACTS UNIT VALUES AND NUMBER OF UNITS OUTSTANDING FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS BEING OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007.
- ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------------ 1998 1999 2000 2001 2002 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Aggressive Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ AXA Conservative Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ AXA Conservative-Plus Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ AXA Moderate Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 102.39 $ 118.86 $ 115.59 $ 111.79 $ 96.39 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 11 101 287 488 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Moderate-Plus Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Common Stock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 102.87 $ 126.92 $ 107.54 $ 94.83 $ 62.46 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 105 702 944 905 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Intermediate Government Securities - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 103.32 $ 101.97 $ 109.71 $ 116.93 $ 125.45 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 16 112 193 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein International - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 93.00 $ 126.30 $ 95.90 $ 72.66 $ 64.53 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 3 36 45 272 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Large Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 116.42 $ 93.88 $ 70.52 $ 47.97 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 36 350 438 383 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Quality Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 103.62 $ 100.07 $ 110.03 $ 117.42 $ 124.90 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 4 27 112 158 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Small Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 86.94 $ 109.62 $ 123.09 $ 105.51 $ 72.72 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 2 98 166 206 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 94.71 $ 80.81 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- 71 173 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AXA Rosenberg Value Long/Short Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/BlackRock Basic Value Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 97.91 $ 115.06 $ 127.11 $ 132.52 $ 109.12 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 7 41 119 183 - ------------------------------------------------------------------------------------------------------------------------------------ - ---------------------------------------------------------------------------------------------------------------------------------- For the years ending December 31, - ---------------------------------------------------------------------------------------------------------------------------------- 2003 2004 2005 2006 2007 - ---------------------------------------------------------------------------------------------------------------------------------- AXA Aggressive Allocation - ---------------------------------------------------------------------------------------------------------------------------------- Unit value $ 109.19 $ 120.60 $ 128.76 $ 149.99 $ 157.32 - ---------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 1 12 32 83 150 - ---------------------------------------------------------------------------------------------------------------------------------- AXA Conservative Allocation - ---------------------------------------------------------------------------------------------------------------------------------- Unit value $ 102.19 $ 107.05 $ 108.35 $ 113.87 $ 119.03 - ---------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 2 31 42 55 100 - ---------------------------------------------------------------------------------------------------------------------------------- AXA Conservative-Plus Allocation - ---------------------------------------------------------------------------------------------------------------------------------- Unit value $ 104.18 $ 110.91 $ 113.14 $ 121.57 $ 126.70 - ---------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 3 21 44 80 145 - ---------------------------------------------------------------------------------------------------------------------------------- AXA Moderate Allocation - ---------------------------------------------------------------------------------------------------------------------------------- Unit value $ 113.46 $ 121.88 $ 126.19 $ 137.55 $ 144.41 - ---------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 503 565 647 699 821 - ---------------------------------------------------------------------------------------------------------------------------------- AXA Moderate-Plus Allocation - ---------------------------------------------------------------------------------------------------------------------------------- Unit value $ 108.00 $ 119.18 $ 125.60 $ 142.10 $ 149.35 - ---------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 2 50 122 290 487 - ---------------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock - ---------------------------------------------------------------------------------------------------------------------------------- Unit value $ 92.29 $ 104.06 $ 107.24 $ 117.28 $ 119.90 - ---------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 1,026 1206 1,254 1,179 1,018 - ---------------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Intermediate Government Securities - ---------------------------------------------------------------------------------------------------------------------------------- Unit value $ 126.60 $ 127.50 $ 127.54 $ 129.94 $ 137.19 - ---------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 185 163 153 138 124 - ---------------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein International - ---------------------------------------------------------------------------------------------------------------------------------- Unit value $ 86.19 $ 100.63 $ 114.63 $ 139.89 $ 154.42 - ---------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 302 335 398 454 488 - ---------------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Large Cap Growth - ---------------------------------------------------------------------------------------------------------------------------------- Unit value $ 58.38 $ 62.52 $ 70.99 $ 69.76 $ 78.56 - ---------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 362 311 281 249 223 - ---------------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Quality Bond - ---------------------------------------------------------------------------------------------------------------------------------- Unit value $ 127.77 $ 130.97 $ 131.99 $ 135.39 $ 139.83 - ---------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 142 135 136 130 124 - ---------------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Small Cap Growth - ---------------------------------------------------------------------------------------------------------------------------------- Unit value $ 101.26 $ 114.03 $ 125.63 $ 135.30 $ 155.98 - ---------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 238 247 253 245 215 - ---------------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Value - ---------------------------------------------------------------------------------------------------------------------------------- Unit value $ 102.78 $ 115.20 $ 120.01 $ 143.93 $ 135.72 - ---------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 235 340 396 471 1,183 - ---------------------------------------------------------------------------------------------------------------------------------- EQ/AXA Rosenberg Value Long/Short Equity - ---------------------------------------------------------------------------------------------------------------------------------- Unit value $ 99.49 $ 101.87 $ 108.21 $ 108.46 $ 110.68 - ---------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 3 14 20 17 - ---------------------------------------------------------------------------------------------------------------------------------- EQ/BlackRock Basic Value Equity - ---------------------------------------------------------------------------------------------------------------------------------- Unit value $ 141.44 $ 154.51 $ 158.36 $ 187.75 $ 187.68 - ---------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 219 284 294 276 266 - ----------------------------------------------------------------------------------------------------------------------------------
I-1 Appendix I: Condensed financial information SERIES 600 CONTRACTS (CONTINUED) UNIT VALUES AND NUMBER OF UNITS OUTSTANDING FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS BEING OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007.
- ------------------------------------------------------------------------------------------------------------------ For the years ending December 31, 1998 1999 2000 2001 2002 - ------------------------------------------------------------------------------------------------------------------ EQ/BlackRock International Value - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 75.88 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 74 - ------------------------------------------------------------------------------------------------------------------ EQ/Boston Advisors Equity Income - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ EQ/Calvert Socially Responsible - ------------------------------------------------------------------------------------------------------------------ Unit value -- $ 107.64 $ 103.26 $ 87.02 $ 63.23 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 3 - ------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Growth - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 54.11 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 5 - ------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Research - ------------------------------------------------------------------------------------------------------------------ Unit value -- $ 106.84 $ 111.80 $ 108.22 $ 80.55 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 9 31 130 - ------------------------------------------------------------------------------------------------------------------ EQ/Caywood-Scholl High Yield Bond - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ EQ/Davis New York Venture - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ EQ/Equity 500 Index - ------------------------------------------------------------------------------------------------------------------ Unit value $ 103.69 $ 123.02 $ 109.63 $ 95.13 $ 72.94 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 50 258 367 451 - ------------------------------------------------------------------------------------------------------------------ EQ/Evergreen International Bond - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ EQ/Evergreen Omega - ------------------------------------------------------------------------------------------------------------------ Unit value -- $ 106.63 $ 93.02 $ 76.26 $ 57.25 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 3 10 16 - ------------------------------------------------------------------------------------------------------------------ EQ/FI Mid Cap - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 100.02 $ 85.57 $ 68.93 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 9 106 195 - ------------------------------------------------------------------------------------------------------------------ EQ/Franklin Income - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ EQ/Franklin Small Cap Value - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ EQ/Franklin Templeton Founding Strategy - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ EQ/GAMCO Mergers and Acquisitions - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ EQ/GAMCO Small Company Value - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------- For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------- 2003 2004 2005 2006 2007 - ------------------------------------------------------------------------------------------------------------------------------- EQ/BlackRock International Value - ------------------------------------------------------------------------------------------------------------------ Unit value $ 96.00 $ 115.37 $ 126.34 $ 156.89 $ 170.79 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 85 120 197 231 237 - ------------------------------------------------------------------------------------------------------------------ EQ/Boston Advisors Equity Income - ------------------------------------------------------------------------------------------------------------------ Unit value -- $ 107.01 $ 112.23 $ 128.59 $ 131.73 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 6 50 67 72 - ------------------------------------------------------------------------------------------------------------------ EQ/Calvert Socially Responsible - ------------------------------------------------------------------------------------------------------------------ Unit value $ 79.94 $ 81.81 $ 87.90 $ 91.38 $ 101.24 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 4 6 8 9 12 - ------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Growth - ------------------------------------------------------------------------------------------------------------------ Unit value $ 66.27 $ 69.10 $ 71.76 $ 76.14 $ 79.35 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 11 12 17 27 43 - ------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Research - ------------------------------------------------------------------------------------------------------------------ Unit value $ 104.65 $ 114.66 $ 120.15 $ 133.03 $ 133.60 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 142 147 147 143 370 - ------------------------------------------------------------------------------------------------------------------ EQ/Caywood-Scholl High Yield Bond - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 104.07 $ 111.01 $ 112.76 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 11 27 45 - ------------------------------------------------------------------------------------------------------------------ EQ/Davis New York Venture - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 97.03 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 8 - ------------------------------------------------------------------------------------------------------------------ EQ/Equity 500 Index - ------------------------------------------------------------------------------------------------------------------ Unit value $ 91.12 $ 100.33 $ 103.49 $ 117.68 $ 122.02 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 536 628 666 652 649 - ------------------------------------------------------------------------------------------------------------------ EQ/Evergreen International Bond - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 97.53 $ 99.66 $ 107.62 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- 14 37 - ------------------------------------------------------------------------------------------------------------------ EQ/Evergreen Omega - ------------------------------------------------------------------------------------------------------------------ Unit value $ 78.17 $ 82.67 $ 84.92 $ 88.82 $ 97.69 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 26 53 44 38 41 - ------------------------------------------------------------------------------------------------------------------ EQ/FI Mid Cap - ------------------------------------------------------------------------------------------------------------------ Unit value $ 97.80 $ 112.12 $ 117.83 $ 129.84 $ 138.57 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 301 399 -- 494 531 - ------------------------------------------------------------------------------------------------------------------ EQ/Franklin Income - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 104.34 $ 105.20 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- 22 149 - ------------------------------------------------------------------------------------------------------------------ EQ/Franklin Small Cap Value - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 108.27 $ 97.73 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- 2 10 - ------------------------------------------------------------------------------------------------------------------ EQ/Franklin Templeton Founding Strategy - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 95.25 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 69 - ------------------------------------------------------------------------------------------------------------------ EQ/GAMCO Mergers and Acquisitions - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 105.14 $ 116.57 $ 119.10 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 5 12 21 - ------------------------------------------------------------------------------------------------------------------ EQ/GAMCO Small Company Value - ------------------------------------------------------------------------------------------------------------------ Unit value -- $ 113.27 $ 116.74 $ 137.07 $ 148.00 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 7 62 80 128 - -------------------------------------------------------------------------------------------------------------------------------
Appendix I: Condensed financial information I-2 SERIES 600 CONTRACTS (CONTINUED) UNIT VALUES AND NUMBER OF UNITS OUTSTANDING FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS BEING OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007.
- ------------------------------------------------------------------------------------------------------------------ For the years ending December 31, 1998 1999 2000 2001 2002 - ------------------------------------------------------------------------------------------------------------------ EQ/International Core PLUS - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 67.97 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 12 - ------------------------------------------------------------------------------------------------------------------ EQ/International Growth - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ EQ/JPMorgan Core Bond - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 107.19 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 45 - ------------------------------------------------------------------------------------------------------------------ EQ/JPMorgan Value Opportunities - ------------------------------------------------------------------------------------------------------------------ Unit value $ 100.60 $ 98.04 $ 103.43 $ 95.23 $ 76.16 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 3 17 32 35 - ------------------------------------------------------------------------------------------------------------------ EQ/Large Cap Core PLUS - ------------------------------------------------------------------------------------------------------------------ Unit value -- $ 104.53 $ 102.57 $ 85.14 $ 66.44 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 2 17 21 26 - ------------------------------------------------------------------------------------------------------------------ EQ/Large Cap Growth PLUS - ------------------------------------------------------------------------------------------------------------------ Unit value $ 103.53 $ 177.65 $ 142.46 $ 92.82 $ 60.23 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 36 288 316 265 - ------------------------------------------------------------------------------------------------------------------ EQ/Legg Mason Value Equity - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ EQ/Long Term Bond - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Growth and Income - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Large Cap Core - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Mid Cap Value - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ EQ/Marsico Focus - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 105.94 $ 92.57 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 47 - ------------------------------------------------------------------------------------------------------------------ EQ/Mid Cap Value PLUS - ------------------------------------------------------------------------------------------------------------------ Unit value $ 82.88 $ 83.36 $ 86.60 $ 88.97 $ 74.98 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 14 126 261 - ------------------------------------------------------------------------------------------------------------------ EQ/Money Market - ------------------------------------------------------------------------------------------------------------------ Unit value $ 101.68 $ 105.21 $ 110.19 $ 112.74 $ 112.77 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 17 57 125 107 - ------------------------------------------------------------------------------------------------------------------ EQ/Montag & Caldwell Growth - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ EQ/Mutual Shares - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ - --------------------------------------------------------------------------------------------------------------------- For the years ending December 31, 2003 2004 2005 2006 2007 - --------------------------------------------------------------------------------------------------------------------- EQ/International Core PLUS - --------------------------------------------------------------------------------------------------------------------- Unit value $ 89.06 $ 99.97 $ 115.69 $ 136.30 $ 155.16 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 31 75 97 121 116 - --------------------------------------------------------------------------------------------------------------------- EQ/International Growth - --------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 115.10 $ 142.89 $ 164.04 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 3 14 40 - --------------------------------------------------------------------------------------------------------------------- EQ/JPMorgan Core Bond - --------------------------------------------------------------------------------------------------------------------- Unit value $ 109.48 $ 112.60 $ 113.71 $ 116.91 $ 119.09 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 72 95 130 144 159 - --------------------------------------------------------------------------------------------------------------------- EQ/JPMorgan Value Opportunities - --------------------------------------------------------------------------------------------------------------------- Unit value $ 95.42 $ 104.53 $ 107.33 $ 127.65 $ 124.59 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 35 38 39 39 38 - --------------------------------------------------------------------------------------------------------------------- EQ/Large Cap Core PLUS - --------------------------------------------------------------------------------------------------------------------- Unit value $ 80.11 $ 88.18 $ 93.39 $ 104.21 $ 106.95 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 31 32 31 28 26 - --------------------------------------------------------------------------------------------------------------------- EQ/Large Cap Growth PLUS - --------------------------------------------------------------------------------------------------------------------- Unit value $ 76.94 $ 85.62 $ 92.23 $ 98.21 $ 112.19 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 250 232 215 178 167 - --------------------------------------------------------------------------------------------------------------------- EQ/Legg Mason Value Equity - --------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 106.44 $ 112.35 $ 104.42 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 6 41 49 - --------------------------------------------------------------------------------------------------------------------- EQ/Long Term Bond - --------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 100.09 $ 100.69 $ 106.83 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 20 33 41 - --------------------------------------------------------------------------------------------------------------------- EQ/Lord Abbett Growth and Income - --------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 106.09 $ 122.86 $ 125.59 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 3 10 13 - --------------------------------------------------------------------------------------------------------------------- EQ/Lord Abbett Large Cap Core - --------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 105.72 $ 117.71 $ 128.70 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 2 5 10 - --------------------------------------------------------------------------------------------------------------------- EQ/Lord Abbett Mid Cap Value - --------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 111.59 $ 123.96 $ 123.17 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 14 23 38 - --------------------------------------------------------------------------------------------------------------------- EQ/Marsico Focus - --------------------------------------------------------------------------------------------------------------------- Unit value $ 119.93 $ 130.94 $ 143.22 $ 154.70 $ 174.30 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 133 180 241 295 326 - --------------------------------------------------------------------------------------------------------------------- EQ/Mid Cap Value PLUS - --------------------------------------------------------------------------------------------------------------------- Unit value $ 98.72 $ 114.94 $ 126.42 $ 140.50 $ 136.59 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 291 333 377 382 349 - --------------------------------------------------------------------------------------------------------------------- EQ/Money Market - --------------------------------------------------------------------------------------------------------------------- Unit value $ 112.05 $ 111.56 $ 113.12 $ 116.78 $ 120.81 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 83 75 68 103 133 - --------------------------------------------------------------------------------------------------------------------- EQ/Montag & Caldwell Growth - --------------------------------------------------------------------------------------------------------------------- Unit value -- $ 104.69 $ 109.03 $ 116.29 $ 138.79 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 6 5 11 - --------------------------------------------------------------------------------------------------------------------- EQ/Mutual Shares - --------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- $ 107.15 $ 107.60 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- 8 73 - ---------------------------------------------------------------------------------------------------------------------
I-3 Appendix I: Condensed financial information SERIES 600 CONTRACTS (CONTINUED) UNIT VALUES AND NUMBER OF UNITS OUTSTANDING FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS BEING OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007.
- -------------------------------------------------------------------------------------------------------------------- For the years ending December 31, 1998 1999 2000 2001 2002 - -------------------------------------------------------------------------------------------------------------------- EQ/Oppenheimer Global - -------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------- EQ/Oppenheimer Main Street Opportunity - -------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------- EQ/Oppenheimer Main Street Small Cap - -------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------- EQ/PIMCO Real Return - -------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------- EQ/Short Duration Bond - -------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------- EQ/Small Company Index - -------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 81.65 - -------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 18 - -------------------------------------------------------------------------------------------------------------------- EQ/T. Rowe Price Growth Stock - -------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------- EQ/Templeton Growth - -------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------- EQ/UBS Growth and Income - -------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------- EQ/Van Kampen Comstock - -------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------- EQ/Van Kampen Emerging Markets Equity - -------------------------------------------------------------------------------------------------------------------- Unit value $ 81.49 $ 157.61 $ 93.36 $ 87.48 $ 81.32 - -------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 5 42 44 54 - -------------------------------------------------------------------------------------------------------------------- EQ/Van Kampen Mid Cap Growth - -------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------- EQ/Van Kampen Real Estate - -------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------- Multimanager Aggressive Equity - -------------------------------------------------------------------------------------------------------------------- Unit value $ 90.25 $ 105.70 $ 90.50 $ 66.90 $ 47.01 - -------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 17 71 100 95 - -------------------------------------------------------------------------------------------------------------------- Multimanager Core Bond - -------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 106.88 - -------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 83 - -------------------------------------------------------------------------------------------------------------------- Multimanager Health Care - -------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 79.09 - -------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 17 - -------------------------------------------------------------------------------------------------------------------- - --------------------------------------------------------------------------------------------------------------------- For the years ending December 31, 2003 2004 2005 2006 2007 - --------------------------------------------------------------------------------------------------------------------- EQ/Oppenheimer Global - --------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- $ 110.99 $ 115.91 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- 3 17 - --------------------------------------------------------------------------------------------------------------------- EQ/Oppenheimer Main Street Opportunity - --------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 95.27 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 3 - --------------------------------------------------------------------------------------------------------------------- EQ/Oppenheimer Main Street Small Cap - --------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- $ 111.04 $ 107.76 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- 3 13 - --------------------------------------------------------------------------------------------------------------------- EQ/PIMCO Real Return - --------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 99.44 $ 98.64 $ 108.63 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 35 56 73 - --------------------------------------------------------------------------------------------------------------------- EQ/Short Duration Bond - --------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 99.89 $ 102.60 $ 106.75 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 3 11 19 - --------------------------------------------------------------------------------------------------------------------- EQ/Small Company Index - --------------------------------------------------------------------------------------------------------------------- Unit value $ 117.68 $ 136.81 $ 140.93 $ 163.91 $ 158.96 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 59 104 133 167 193 - --------------------------------------------------------------------------------------------------------------------- EQ/T. Rowe Price Growth Stock - --------------------------------------------------------------------------------------------------------------------- Unit value -- $ 111.26 $ 114.31 $ 108.40 $ 114.84 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 2 26 30 152 - --------------------------------------------------------------------------------------------------------------------- EQ/Templeton Growth - --------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- $ 107.63 $ 108.55 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- 11 54 - --------------------------------------------------------------------------------------------------------------------- EQ/UBS Growth and Income - --------------------------------------------------------------------------------------------------------------------- Unit value -- $ 109.27 $ 117.68 $ 132.73 $ 132.66 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 21 46 65 - --------------------------------------------------------------------------------------------------------------------- EQ/Van Kampen Comstock - --------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 104.39 $ 119.54 $ 115.14 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 9 23 32 - --------------------------------------------------------------------------------------------------------------------- EQ/Van Kampen Emerging Markets Equity - --------------------------------------------------------------------------------------------------------------------- Unit value $ 125.29 $ 153.09 $ 200.85 $ 271.98 $ 381.60 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 69 95 144 180 196 - --------------------------------------------------------------------------------------------------------------------- EQ/Van Kampen Mid Cap Growth - --------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 123.86 $ 133.70 $ 161.70 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 4 12 34 - --------------------------------------------------------------------------------------------------------------------- EQ/Van Kampen Real Estate - --------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 82.93 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 244 - --------------------------------------------------------------------------------------------------------------------- Multimanager Aggressive Equity - --------------------------------------------------------------------------------------------------------------------- Unit value $ 63.88 $ 70.75 $ 75.63 $ 78.55 $ 86.44 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 106 123 122 112 98 - --------------------------------------------------------------------------------------------------------------------- Multimanager Core Bond - --------------------------------------------------------------------------------------------------------------------- Unit value $ 109.55 $ 112.44 $ 113.04 $ 115.90 $ 121.67 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 100 106 121 111 108 - --------------------------------------------------------------------------------------------------------------------- Multimanager Health Care - --------------------------------------------------------------------------------------------------------------------- Unit value $ 100.13 $ 110.93 $ 117.23 $ 121.77 $ 131.09 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 32 49 57 60 63 - --------------------------------------------------------------------------------------------------------------------
Appendix I: Condensed financial information I-4 SERIES 600 CONTRACTS (CONTINUED) UNIT VALUES AND NUMBER OF UNITS OUTSTANDING FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS BEING OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007.
- --------------------------------------------------------------------------------------------------------------- For the years ending December 31, 1998 1999 2000 2001 2002 - --------------------------------------------------------------------------------------------------------------- Multimanager High Yield - --------------------------------------------------------------------------------------------------------------- Unit value $ 89.20 $ 84.97 $ 76.49 $ 76.09 $ 72.96 - --------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 5 28 49 69 - --------------------------------------------------------------------------------------------------------------- Multimanager International Equity - --------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 78.18 - --------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 17 - --------------------------------------------------------------------------------------------------------------- Multimanager Large Cap Core Equity - --------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 76.54 - --------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 21 - --------------------------------------------------------------------------------------------------------------- Multimanager Large Cap Growth - --------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 67.96 - --------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 32 - --------------------------------------------------------------------------------------------------------------- Multimanager Large Cap Value - --------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 79.20 - --------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 32 - --------------------------------------------------------------------------------------------------------------- Multimanager Mid Cap Growth - --------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 62.08 - --------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 43 - --------------------------------------------------------------------------------------------------------------- Multimanager Mid Cap Value - --------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 73.80 - --------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 36 - --------------------------------------------------------------------------------------------------------------- Multimanager Small Cap Growth - --------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------- Multimanager Small Cap Value - --------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 112.91 - --------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 27 - --------------------------------------------------------------------------------------------------------------- Multimanager Technology - --------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 56.71 - --------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 9 - --------------------------------------------------------------------------------------------------------------- Target 2015 Allocation - --------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------- Target 2025 Allocation - --------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------- Target 2035 Allocation - --------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------- Target 2045 Allocation - --------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------- - --------------------------------------------------------------------------------------------------------------- For the years ending December 31, 2003 2004 2005 2006 2007 - --------------------------------------------------------------------------------------------------------------- Multimanager High Yield - --------------------------------------------------------------------------------------------------------------- Unit value $ 88.34 $ 94.85 $ 96.58 $ 104.90 $ 106.89 - --------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 130 179 218 218 211 - --------------------------------------------------------------------------------------------------------------- Multimanager International Equity - --------------------------------------------------------------------------------------------------------------- Unit value $ 103.76 $ 120.87 $ 137.87 $ 170.70 $ 189.61 - --------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 31 62 71 89 88 - --------------------------------------------------------------------------------------------------------------- Multimanager Large Cap Core Equity - --------------------------------------------------------------------------------------------------------------- Unit value $ 96.89 $ 104.99 $ 110.72 $ 124.24 $ 128.89 - --------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 31 33 31 29 30 - --------------------------------------------------------------------------------------------------------------- Multimanager Large Cap Growth - --------------------------------------------------------------------------------------------------------------- Unit value $ 87.71 $ 92.44 $ 98.17 $ 97.10 $ 106.72 - --------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 53 65 65 66 67 - --------------------------------------------------------------------------------------------------------------- Multimanager Large Cap Value - --------------------------------------------------------------------------------------------------------------- Unit value $ 102.57 $ 115.96 $ 122.70 $ 144.66 $ 148.12 - --------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 39 51 62 86 93 - --------------------------------------------------------------------------------------------------------------- Multimanager Mid Cap Growth - --------------------------------------------------------------------------------------------------------------- Unit value $ 86.02 $ 94.96 $ 101.69 $ 110.13 $ 121.76 - --------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 94 125 122 116 107 - --------------------------------------------------------------------------------------------------------------- Multimanager Mid Cap Value - --------------------------------------------------------------------------------------------------------------- Unit value $ 102.53 $ 116.68 $ 123.75 $ 140.28 $ 138.72 - --------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 66 91 89 85 82 - --------------------------------------------------------------------------------------------------------------- Multimanager Small Cap Growth - --------------------------------------------------------------------------------------------------------------- Unit value -- $ 114.62 $ 121.73 $ 132.55 $ 135.77 - --------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 1 26 50 72 - --------------------------------------------------------------------------------------------------------------- Multimanager Small Cap Value - --------------------------------------------------------------------------------------------------------------- Unit value $ 153.26 $ 177.32 $ 183.41 $ 210.41 $ 187.41 - --------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 54 102 120 127 112 - --------------------------------------------------------------------------------------------------------------- Multimanager Technology - --------------------------------------------------------------------------------------------------------------- Unit value $ 88.33 $ 91.63 $ 100.73 $ 106.79 $ 124.72 - --------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 31 130 128 124 126 - --------------------------------------------------------------------------------------------------------------- Target 2015 Allocation - --------------------------------------------------------------------------------------------------------------- Unit value -- -- -- $ 108.37 $ 114.81 - --------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 5 - --------------------------------------------------------------------------------------------------------------- Target 2025 Allocation - --------------------------------------------------------------------------------------------------------------- Unit value -- -- -- $ 109.32 $ 115.96 - --------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- 2 15 - --------------------------------------------------------------------------------------------------------------- Target 2035 Allocation - --------------------------------------------------------------------------------------------------------------- Unit value -- -- -- $ 110.21 $ 116.92 - --------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- 1 7 - --------------------------------------------------------------------------------------------------------------- Target 2045 Allocation - --------------------------------------------------------------------------------------------------------------- Unit value -- -- -- $ 110.99 $ 118.22 - --------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 5 - ---------------------------------------------------------------------------------------------------------------
EQUI-VEST(SM) is issued by and is a service mark of AXA Equitable Life Insurance Company (AXA Equitable). Co-distributed by affiliates, AXA Advisors, LLC and AXA Distributors, LLC. 1290 Avenue of the Americas, New York, NY 10104. Copyright 2008 AXA Equitable Life Insurance Company. All rights reserved. AXA Equitable Life Insurance Company 1290 Avenue of the Americas New York, NY 10104 212-554-1234 I-5 Appendix I: Condensed financial information EQUI-VEST(SM) Employer-Sponsored Retirement Programs SUPPLEMENT DATED MAY 1, 2008 TO THE EQUI-VEST(SM) EMPLOYER-SPONSORED RETIREMENT PROGRAMS PROSPECTUS DATED MAY 1, 2008 EQUI-VEST(SM) VANTAGE(SM) - -------------------------------------------------------------------------------- This Supplement adds to and modifies certain information contained in the Prospectus dated May 1, 2008, for the EQUI-VEST(SM) Employer-Sponsored Retirement Programs offered by AXA Equitable Life Insurance Company ("Prospectus"). We offer the EQUI-VEST(SM) Vantage(SM) contract to fund certain Section 403(b) plans ("plans"). The EQUI-VEST(SM) Vantage(SM) contract is available to plans that meet our requirements, which may include requirements regarding plan vesting provisions. The EQUI-VEST(SM) Vantage(SM) contract may not currently be available in every state. Your financial professional can provide information about state availability. EQUI-VEST(SM) Vantage(SM) is a group variable deferred annuity contract. Either the plan trustee or the employer will be the EQUI-VEST(SM) Vantage(SM) contract holder. Certain rights may be exercised by employees covered under an employer`s plan (the "participants"). These rights will be set forth in a participation certificate provided to each participant. The 12-month period beginning on the participant`s participation date and each 12-month period thereafter is a "participation year." The "participation date" is the date we receive a participant`s properly completed and signed enrollment form and any other required documents at our processing office. "Contract date" is the date following our acceptance of a properly completed and signed application (and other required documents). The 12-month period beginning on a contract date and each 12-month period after that is a "contract year." The end of each 12-month period is the "contract anniversary." Terms and other provisions not defined or modified in this Supplement are the same as in the Prospectus.1 The group annuity contract that covers the qualified plan in which you participate is not an investment advisory account, and AXA Equitable is not providing any investment advice or managing the allocations under this contract. In the absence of a specific written arrangement to the contrary, you, as the participant under this contract, have the sole authority to make investment allocations and other decisions under the contract. Your AXA Advisors financial professional is acting as a broker-dealer registered representative, and is not authorized to act as an investment advisor or to manage the allocations under your contract. If your financial professional is a registered representative with a broker-dealer other than AXA Advisors, you should speak with him/her regarding any different arrangements that may apply. We offer the EQUI-VEST(SM) Vantage(SM) contract to purchasers on the same basis and under the same terms and conditions described in the Prospectus as those that apply to EQUI-VEST(SM) Series 100 and 200 contracts, except for certain material differences described in this Supplement. This Supplement should be read together with the Prospectus. You should be aware that an annuity contract that is a Tax Sheltered Annuity (TSA), such as the EQUI-VEST(SM) Vantage(SM), does not provide tax deferral benefits beyond those already provided by the Internal Revenue Code. Before participating in EQUI-VEST(SM) Vantage(SM) TSA, you should consider whether its features and benefits beyond tax deferral meet your needs and goals. You may also want to consider the relative features, benefits and costs of this annuity with any other investment that you may use in connection with your retirement plan or arrangement. (For more information, see "Tax information," in the Prospectus). ---------- See "Tax information" in the Prospectus for a more detailed discussion of sources of contributions, certain contribution limitations and other tax information for TSA contracts. We may at some future time, under certain conditions and subject to applicable law, allow a current owner of an EQUI-VEST(SM) series 100, series 200, or series 600 TSA contract to exchange it for participation in an EQUI-VEST(SM) Vantage(SM) contract. An exchange for participation in an EQUI-VEST(SM) Vantage(SM) contract may or may not be advantageous, based on all of the circumstances, including a comparison of contractual terms and conditions, and charges and deductions. We will provide additional information upon request at such time as exchanges may be permitted. Material differences between EQUI-VEST(SM) Vantage(SM) and the provisions of the EQUI-VEST(SM) series 100 and 200 contracts described in the Prospectus include the information above as well as the following: - ------- 1 This Supplement distinguishes between "contract" and "participation certificate" as well as "contract holder" and "participant" when describing the EQUI-VEST(SM) Vantage(SM) product. The Prospectus does not make these distinctions and generally uses the terms "you" and "your" when referring to the person who has the right or responsibility that the Prospectus is discussing at that point, and to "contract" when referring to the participation certificate or contract that includes the right being discussed. In this supplement, unless otherwise stated, "you" and "your" refers to the participant. X02022 1. THE FOLLOWING PARAGRAPH IS ADDED TO THE "EQUI-VEST(SM) EMPLOYER-SPONSORED PROGRAMS AT A GLANCE -- KEY FEATURES" TABLE UNDER "TAX ADVANTAGES" IN THE PROSPECTUS: EQUI-VEST(SM) VANTAGE(SM) TAX ADVANTAGES You should be aware that electing the optional "enhanced death benefit" may have limited usefulness due to the effect of Required Minimum Distributions ("RMDs"). Your required withdrawals reduce this benefit and may have the effect of eliminating your ability to utilize the entire benefit. You should consult with your tax adviser and consider whether you can satisfy your RMD from another similar qualified source prior to purchasing this benefit. 2. THE FOLLOWING IS ADDED AS A NEW HEADING TO THE "EQUI-VEST(SM) EMPLOYER-SPONSORED RETIREMENT PROGRAMS AT A GLANCE -- KEY FEATURES" TABLE BEFORE "PAYOUT OPTIONS" IN THE PROSPECTUS: EQUI-VEST(SM) VANTAGE(SM) DEATH BENEFIT PROTECTION The contract provides a death benefit for the beneficiary should you die. The death benefit is equal to your account value or the minimum death benefit, whichever is higher. However, if you elect the optional enhanced death benefit, the death benefit is equal to your account value or the enhanced death benefit, whichever is higher. 3. THE FOLLOWING IS ADDED TO THE "EQUI-VEST(SM) EMPLOYER-SPONSORED RETIREMENT PROGRAMS AT A GLANCE -- KEY FEATURES" TABLE UNDER "FEES AND CHARGES" IN THE PROSPECTUS: - -------------------------------------------------------------------------------- FEES AND CHARGES o Separate account charge deducted daily on amounts FOR EQUI-VEST(SM) invested in variable investment options: Varies by VANTAGE(SM) employer group, annual rate ranges between 0.50% -- 0.90%. o Annual administrative charge: There is no annual administrative charge. o Charge for third-party transfer (such as in the case of a direct plan-to-plan transfer of the account value or a contract exchange under the same 403(b) plan to an "employer-designated funding vehicle" or a direct rollover to another eligible retirement plan: $25 current ($65 maximum) per occurrence per participant. o No sales charge deducted at the time contributions are made. o Withdrawal charge: We deduct a charge of up to 6% of the amount withdrawn from your account value for withdrawals made (or of the defaulted loan amount, if applicable) in the first five contract years or participation years, depending upon the employer's group. The total of all withdrawal charges may not exceed 8% of all contributions attributable to the participant in the first five contract or participation years (as applicable) that are permitted to be withdrawn. o We deduct a charge designed to approximate certain taxes that may be imposed on us, such as premium taxes in your state. The charge is generally deducted from the amount applied to an annuity payout option. o We deduct an annual charge equal to 0.15% of the account value on each participation date anniversary if you elect the optional enhanced death benefit. o We deduct an annuity administrative fee of $350 from amounts applied to a Variable Immediate Annuity payout option. This option is described in a separate prospectus that is available from your financial professional. o Annual expenses of the Trusts' portfolios are calculated as a percentage of the average daily net assets invested in each portfolio. Please see "Fee table" later in this prospectus for details. o For variations, including variations in fees and charges for certain contract owners in the State of Texas, please see Appendix II. - -------------------------------------------------------------------------------- 2 4. VARIABLE INVESTMENT OPTIONS The Variable Investment Options for which information is provided in Section 5 below are available under the contract, subject to state regulatory approval and availability under your employer's plan. 5. THE FOLLOWING TABLE AND EXAMPLE ARE ADDED BEFORE "CONDENSED FINANCIAL INFORMATION" IN "FEE TABLE" IN THE PROSPECTUS: FEE TABLE The following tables describe the fees and expenses that you will pay when buying, owning, and surrendering the EQUI-VEST(SM) VANTAGE(SM) certificate. Each of the charges and expenses is more fully described in "Charges and expenses" later in this Supplement. The first table describes fees and expenses that you will pay at the time that you make certain withdrawals, surrender your certificate, purchase a Variable Immediate Annuity payout option or make certain transfers and rollovers. Charges designed to approximate certain taxes that may be imposed on us, such as premium taxes in your state, may also apply. Charges for certain features shown in the fee table are mutually exclusive. - -------------------------------------------------------------------------------------------------------------------------------- Charges we deduct from your account value at the time you request certain transactions - -------------------------------------------------------------------------------------------------------------------------------- Maximum withdrawal charge as a percentage of the amount withdrawn (deducted when you surrender your certificate or make certain withdrawals) 6.00% Charge if you elect a Variable Immediate Annuity payout option (which is described in a separate prospectus for that option) $350 Charge for third-party transfer or direct rollover $65 maximum per participant for each occurrence; currently $25 per participant for each occurrence. The next table describes the fees and expenses that you will pay periodically during the time that you have your certificate, not including underlying trust portfolio fees and expenses.
- -------------------------------------------------------------------------------------------------------------------------------- Charges we deduct from your account value on each participation date anniversary - -------------------------------------------------------------------------------------------------------------------------------- Maximum annual administrative charge $0
- -------------------------------------------------------------------------------------------------------------------------------- Charges we deduct from your variable investment options expressed as an annual percentage of daily net assets - -------------------------------------------------------------------------------------------------------------------------------- Separate Account annual expenses(1) 0.50% to 0.90% maximum
- -------------------------------------------------------------------------------------------------------------------------------- Charges we deduct from the account value each year if you elect the optional enhanced death benefit - -------------------------------------------------------------------------------------------------------------------------------- Optional enhanced death benefit charge (as a percentage of your account value) is deducted annually on each participation date anniversary 0.15% - -------------------------------------------------------------------------------------------------------------------------------- You also bear your proportionate share of all fees and expenses paid by a "portfolio" that corresponds to any variable investment option you are using. This table shows the lowest and highest total operating expenses charged by any of the portfolios that you will pay periodically during the time that you own your certificate. These fees and expenses are reflected in the portfolio's net asset value each day. Therefore, they reduce the investment return of the portfolio and the related variable investment option. Actual fees and expenses are likely to fluctuate from year to year. More detail concerning each portfolio's fees and expenses is contained in the Trust prospectus for the portfolio.
- -------------------------------------------------------------------------------------------------------------------------------- Portfolio operating expenses expressed as an annual percentage of daily net assets - -------------------------------------------------------------------------------------------------------------------------------- Total Annual Portfolio Operating Expenses for 2007 (expenses that are deducted Lowest Highest from portfolio assets including management fees, 12b-1 fees, service fees, ------ ------- and/or other expenses)(2) 0.63% 3.71% - --------------------------------------------------------------------------------------------------------------------------------
3 This table shows the fees and expenses for 2007 as an annual percentage of each portfolio's daily average net assets.
- ------------------------------------------------------------------------------------------ Management 12b-1 Other Portfolio Name Fees(3) Fees(4) Expenses(5) - ------------------------------------------------------------------------------------------ AXA Premier VIP Trust: - ------------------------------------------------------------------------------------------ AXA Aggressive Allocation(a) 0.10% 0.25% 0.17% AXA Conservative Allocation(a) 0.10% 0.25% 0.21% AXA Conservative-Plus Allocation(a) 0.10% 0.25% 0.19% AXA Moderate Allocation(a) 0.10% 0.25% 0.17% AXA Moderate-Plus Allocation(a) 0.10% 0.25% 0.17% Multimanager Aggressive Equity 0.60% 0.25% 0.19% Multimanager Core Bond 0.58% 0.25% 0.18% Multimanager Health Care 1.20% 0.25% 0.23% Multimanager High Yield 0.57% 0.25% 0.19% Multimanager International Equity 1.00% 0.25% 0.23% Multimanager Large Cap Core Equity 0.89% 0.25% 0.21% Multimanager Large Cap Growth 0.90% 0.25% 0.22% Multimanager Large Cap Value 0.87% 0.25% 0.20% Multimanager Mid Cap Growth 1.10% 0.25% 0.20% Multimanager Mid Cap Value 1.09% 0.25% 0.20% Multimanager Small Cap Growth 1.05% 0.25% 0.27% Multimanager Small Cap Value 1.03% 0.25% 0.18% Multimanager Technology 1.20% 0.25% 0.22% Target 2015 Allocation 0.10% 0.25% 1.71% Target 2025 Allocation 0.10% 0.25% 1.41% Target 2035 Allocation 0.10% 0.25% 2.38% Target 2045 Allocation 0.10% 0.25% 2.81% - ------------------------------------------------------------------------------------------ EQ Advisors Trust: - ------------------------------------------------------------------------------------------ EQ/AllianceBernstein Common Stock 0.47% 0.25% 0.13% EQ/AllianceBernstein Intermediate Government Securities 0.50% 0.25% 0.13% EQ/AllianceBernstein International 0.71% 0.25% 0.18% EQ/AllianceBernstein Large Cap Growth 0.90% 0.25% 0.13% EQ/AllianceBernstein Quality Bond 0.50% 0.25% 0.14% EQ/AllianceBernstein Small Cap Growth 0.74% 0.25% 0.13% EQ/AllianceBernstein Value 0.59% 0.25% 0.12% EQ/AXA Rosenberg Value Long/Short Equity 1.40% 0.25% 1.91% EQ/BlackRock Basic Value Equity 0.55% 0.25% 0.13% EQ/BlackRock International Value 0.81% 0.25% 0.19% EQ/Boston Advisors Equity Income 0.75% 0.25% 0.14% EQ/Calvert Socially Responsible 0.65% 0.25% 0.23% EQ/Capital Guardian Growth 0.65% 0.25% 0.14% EQ/Capital Guardian Research 0.63% 0.25% 0.13% EQ/Caywood-Scholl High Yield Bond 0.60% 0.25% 0.16% EQ/Davis New York Venture 0.85% 0.25% 0.18% EQ/Equity 500 Index 0.25% 0.25% 0.13% EQ/Evergreen International Bond 0.70% 0.25% 0.17% EQ/Evergreen Omega 0.65% 0.25% 0.25% EQ/FI Mid Cap 0.68% 0.25% 0.13% EQ/Franklin Income 0.90% 0.25% 0.15% EQ/Franklin Small Cap Value 0.90% 0.25% 0.18% EQ/Franklin Templeton Founding Strategy 0.05% 0.25% 0.22% EQ/GAMCO Mergers and Acquisitions 0.90% 0.25% 0.19% EQ/GAMCO Small Company Value 0.76% 0.25% 0.12% EQ/International Core PLUS(e) 0.60% 0.25% 0.30% EQ/International Growth 0.85% 0.25% 0.27% EQ/JPMorgan Core Bond 0.43% 0.25% 0.13% EQ/JPMorgan Value Opportunities 0.60% 0.25% 0.14% EQ/Large Cap Core PLUS(b) 0.50% 0.25% 0.25% EQ/Large Cap Growth PLUS(c) 0.50% 0.25% 0.24% EQ/Legg Mason Value Equity 0.65% 0.25% 0.17% EQ/Long Term Bond 0.40% 0.25% 0.13% - ------------------------------------------------------------------------------------------ - --------------------------------------------------------------------------------------------------------------- Total Acquired Annual Fee Net Fund Expenses Waivers Annual Fees and (Before and/or Expenses Expenses Expense Expense (After (Underlying Limita- Reimburse- Expense Portfolio Name Portfolios)(6) tions) ments(7) Limitations) - --------------------------------------------------------------------------------------------------------------- AXA Premier VIP Trust: - --------------------------------------------------------------------------------------------------------------- AXA Aggressive Allocation(a) 0.92% 1.44% (0.17)% 1.27% AXA Conservative Allocation(a) 0.69% 1.25% (0.21)% 1.04% AXA Conservative-Plus Allocation(a) 0.76% 1.30% (0.19)% 1.11% AXA Moderate Allocation(a) 0.82% 1.34% (0.17)% 1.17% AXA Moderate-Plus Allocation(a) 0.86% 1.38% (0.17)% 1.21% Multimanager Aggressive Equity -- 1.04% -- 1.04% Multimanager Core Bond -- 1.01% (0.01)% 1.00% Multimanager Health Care -- 1.68% 0.00% 1.68% Multimanager High Yield -- 1.01% -- 1.01% Multimanager International Equity -- 1.48% 0.00% 1.48% Multimanager Large Cap Core Equity -- 1.35% 0.00% 1.35% Multimanager Large Cap Growth -- 1.37% (0.02)% 1.35% Multimanager Large Cap Value -- 1.32% 0.00% 1.32% Multimanager Mid Cap Growth -- 1.55% 0.00% 1.55% Multimanager Mid Cap Value -- 1.54% 0.00% 1.54% Multimanager Small Cap Growth -- 1.57% (0.02)% 1.55% Multimanager Small Cap Value -- 1.46% 0.00% 1.46% Multimanager Technology 0.01% 1.68% 0.00% 1.68% Target 2015 Allocation 0.55% 2.61% (1.46)% 1.15% Target 2025 Allocation 0.55% 2.31% (1.16)% 1.15% Target 2035 Allocation 0.55% 3.28% (2.13)% 1.15% Target 2045 Allocation 0.55% 3.71% (2.56)% 1.15% - --------------------------------------------------------------------------------------------------------------- EQ Advisors Trust: - --------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock -- 0.85% -- 0.85% EQ/AllianceBernstein Intermediate Government Securities -- 0.88% -- 0.88% EQ/AllianceBernstein International -- 1.14% (0.04)% 1.10% EQ/AllianceBernstein Large Cap Growth -- 1.28% (0.23)% 1.05% EQ/AllianceBernstein Quality Bond -- 0.89% -- 0.89% EQ/AllianceBernstein Small Cap Growth -- 1.12% -- 1.12% EQ/AllianceBernstein Value -- 0.96% (0.01)% 0.95% EQ/AXA Rosenberg Value Long/Short Equity -- 3.56% 0.00% 3.56% EQ/BlackRock Basic Value Equity -- 0.93% 0.00% 0.93% EQ/BlackRock International Value -- 1.25% 0.00% 1.25% EQ/Boston Advisors Equity Income -- 1.14% (0.09)% 1.05% EQ/Calvert Socially Responsible -- 1.13% (0.08)% 1.05% EQ/Capital Guardian Growth 0.01% 1.05% (0.09)% 0.96% EQ/Capital Guardian Research -- 1.01% (0.06)% 0.95% EQ/Caywood-Scholl High Yield Bond -- 1.01% (0.01)% 1.00% EQ/Davis New York Venture -- 1.28% 0.00% 1.28% EQ/Equity 500 Index -- 0.63% -- 0.63% EQ/Evergreen International Bond -- 1.12% 0.00% 1.12% EQ/Evergreen Omega -- 1.15% 0.00% 1.15% EQ/FI Mid Cap -- 1.06% (0.06)% 1.00% EQ/Franklin Income -- 1.30% 0.00% 1.30% EQ/Franklin Small Cap Value -- 1.33% (0.03)% 1.30% EQ/Franklin Templeton Founding Strategy 1.05% 1.57% (0.12)% 1.45%(8) EQ/GAMCO Mergers and Acquisitions -- 1.34% 0.00% 1.34% EQ/GAMCO Small Company Value -- 1.13% 0.00% 1.13% EQ/International Core PLUS(e) 0.04% 1.19% (0.05)% 1.14% EQ/International Growth -- 1.37% 0.00% 1.37% EQ/JPMorgan Core Bond -- 0.81% 0.00% 0.81% EQ/JPMorgan Value Opportunities -- 0.99% (0.04)% 0.95% EQ/Large Cap Core PLUS(b) 0.02% 1.02% (0.05)% 0.97% EQ/Large Cap Growth PLUS(c) 0.02% 1.01% (0.04)% 0.97% EQ/Legg Mason Value Equity -- 1.07% (0.07)% 1.00% EQ/Long Term Bond -- 0.78% 0.00% 0.78% - ---------------------------------------------------------------------------------------------------------------
4
- --------------------------------------------------------------------------- Management 12b-1 Other Portfolio Name Fees(3) Fees(4) Expenses(5) - --------------------------------------------------------------------------- EQ/Lord Abbett Growth and Income 0.65% 0.25% 0.16% EQ/Lord Abbett Large Cap Core 0.65% 0.25% 0.21% EQ/Lord Abbett Mid Cap Value 0.70% 0.25% 0.15% EQ/Marsico Focus 0.85% 0.25% 0.13% EQ/Mid Cap Value PLUS(d) 0.55% 0.25% 0.24% EQ/Money Market 0.32% 0.25% 0.13% EQ/Montag & Caldwell Growth 0.75% 0.25% 0.15% EQ/Mutual Shares 0.90% 0.25% 0.21% EQ/Oppenheimer Global 0.95% 0.25% 0.51% EQ/Oppenheimer Main Street Opportunity 0.85% 0.25% 0.45% EQ/Oppenheimer Main Street Small Cap 0.90% 0.25% 0.48% EQ/PIMCO Real Return 0.55% 0.25% 0.14% EQ/Short Duration Bond 0.43% 0.25% 0.15% EQ/Small Company Index 0.25% 0.25% 0.14% EQ/T. Rowe Price Growth Stock 0.79% 0.25% 0.14% EQ/Templeton Growth 0.95% 0.25% 0.20% EQ/UBS Growth and Income 0.75% 0.25% 0.16% EQ/Van Kampen Comstock 0.65% 0.25% 0.15% EQ/Van Kampen Emerging Markets Equity 1.11% 0.25% 0.28% EQ/Van Kampen Mid Cap Growth 0.70% 0.25% 0.15% EQ/Van Kampen Real Estate 0.90% 0.25% 0.21% - --------------------------------------------------------------------------- - -------------------------------------------------------------------------------------------- Total Acquired Annual Fee Net Fund Expenses Waivers Annual Fees and (Before and/or Expenses Expenses Expense Expense (After (Underlying Limita- Reimburse- Expense Portfolio Name Portfolios)(6) tions) ments(7) Limitations) - -------------------------------------------------------------------------------------------- EQ/Lord Abbett Growth and Income -- 1.06% (0.06)% 1.00% EQ/Lord Abbett Large Cap Core -- 1.11% (0.11)% 1.00% EQ/Lord Abbett Mid Cap Value -- 1.10% (0.05)% 1.05% EQ/Marsico Focus -- 1.23% (0.08)% 1.15% EQ/Mid Cap Value PLUS(d) 0.02% 1.06% (0.04)% 1.02% EQ/Money Market -- 0.70% -- 0.70% EQ/Montag & Caldwell Growth -- 1.15% 0.00% 1.15% EQ/Mutual Shares -- 1.36% (0.06)% 1.30% EQ/Oppenheimer Global 0.01% 1.72% (0.36)% 1.36% EQ/Oppenheimer Main Street Opportunity 0.01% 1.56% (0.25)% 1.31% EQ/Oppenheimer Main Street Small Cap 0.01% 1.64% (0.33)% 1.31% EQ/PIMCO Real Return -- 0.94% (0.04)% 0.90% EQ/Short Duration Bond -- 0.83% 0.00% 0.83% EQ/Small Company Index -- 0.64% 0.00% 0.64% EQ/T. Rowe Price Growth Stock -- 1.18% (0.03)% 1.15% EQ/Templeton Growth -- 1.40% (0.05)% 1.35% EQ/UBS Growth and Income -- 1.16% (0.11)% 1.05% EQ/Van Kampen Comstock -- 1.05% (0.05)% 1.00% EQ/Van Kampen Emerging Markets Equity -- 1.64% 0.00% 1.64% EQ/Van Kampen Mid Cap Growth -- 1.10% (0.05)% 1.05% EQ/Van Kampen Real Estate -- 1.36% (0.10)% 1.26% - --------------------------------------------------------------------------------------------
Notes: (a) The AXA Allocation portfolios. (b) Formerly named "MarketPLUS Large Cap Core." (c) Formerly named "MarketPLUS Large Cap Growth." (d) Formerly named "MarketPLUS Mid Cap Value." (e) Formerly named "MarketPLUS International Core." (1) For mortality and expense risks, and administrative and financial accounting expenses. A portion of this charge is for providing the death benefit. (2) "Total Annual Portfolio Operating Expenses" are based, in part, on estimated amounts for options added during the fiscal year 2007 and for the underlying portfolios. (3) The management fees for each portfolio cannot be increased without a vote of that portfolio's shareholders. See footnote (7) for any expense limitation agreement information. (4) Portfolio shares are all subject to fees imposed under the distribution plans (the "Rule 12b-1 Plan") adopted by the Trusts pursuant to Rule 12b-1 under the Investment Company Act of 1940. For the portfolios of the AXA Premier VIP Trust and the EQ Advisors Trust, the 12b-1 fees will not be increased for the life of the contract. (5) The amounts shown as "Other Expenses" will fluctuate from year to year depending on actual expenses. See footnote (7) for any expense limitation agreement information. (6) Each of these variable investment options invests in a corresponding portfolio of one of the Trusts or other unaffiliated investment companies. Each portfolio, in turn, invests in shares of other portfolios of the Trusts and/or shares of unaffiliated portfolios ("underlying portfolios"). Amounts shown reflect each portfolio's pro rata share of the fees and expenses of the underlying portfolio(s) in which it invests. A "-" indicates that the listed portfolio does not invest in underlying portfolios. (7) The amounts shown reflect any fee waivers and/or expense reimbursements that apply to each portfolio. A "-" indicates that there is no expense limitation in effect, and "0.00%" indicates that the expense limitation arrangement did not result in a fee waiver or reimbursement. AXA Equitable, the investment manager of AXA Premier VIP Trust and EQ Advisors Trust, has entered into expense limitation agreements with respect to certain portfolios, which are effective through April 30, 2009 (unless the Board of Trustees of AXA Premier VIP Trust or EQ Advisors Trust, as applicable, consents to an earlier revision or termination of this arrangement). Under these agreements, AXA Equitable has agreed to waive or limit its fees and assume other expenses of certain portfolios, if necessary, in an amount that limits such portfolio's Total Annual Expenses (exclusive of interest, taxes, brokerage commissions, capitalized expenditures, expenses of the underlying portfolios in which the portfolio invests and extraordinary expenses) to not more than the amounts specified in the agreements. Therefore, each portfolio may at a later date make a reimbursement to AXA Equitable for any of the management fees waived or limited and other expenses assumed and paid by AXA Equitable pursuant to the expense limitation agreements provided that the portfolio's current annual operating expenses do not exceed the operating expense limit determined for such portfolio. In addition, a portion of the brokerage commissions of certain portfolios of AXA Premier VIP Trust and EQ Advisors Trust is used to reduce the applicable portfolio's expenses. If the above table reflected both the expense limitation arrangements plus the portion of the brokerage commissions used to reduce portfolio expenses, the net expenses would be as shown in the table below: - ------------------------------------------------ Portfolio Name: - ------------------------------------------------ Multimanager Aggressive Equity 0.97% - ------------------------------------------------ Multimanager Health Care 1.67% - ------------------------------------------------ Multimanager Large Cap Core Equity 1.34% - ------------------------------------------------ Multimanager Large Cap Growth 1.29% - ------------------------------------------------ Multimanager Large Cap Value 1.26% - ------------------------------------------------ Multimanager Mid Cap Growth 1.52% - ------------------------------------------------ Multimanager Mid Cap Value 1.53% - ------------------------------------------------ 5 - --------------------------------------------------- Portfolio Name: - --------------------------------------------------- Multimanager Small Cap Growth 1.35% - --------------------------------------------------- Multimanager Small Cap Value 1.45% - --------------------------------------------------- Multimanager Technology 1.67% - --------------------------------------------------- EQ/AllianceBernstein Common Stock 0.84% - --------------------------------------------------- EQ/AllianceBernstein Large Cap Growth 1.03% - --------------------------------------------------- EQ/AllianceBernstein Small Cap Growth 1.11% - --------------------------------------------------- EQ/AllianceBernstein Value 0.87% - --------------------------------------------------- EQ/BlackRock Basic Value Equity 0.92% - --------------------------------------------------- EQ/Davis New York Venture 1.25% - --------------------------------------------------- EQ/Evergreen Omega 1.12% - --------------------------------------------------- EQ/GAMCO Mergers and Acquisitions 1.33% - --------------------------------------------------- EQ/GAMCO Small Company Value 1.10% - --------------------------------------------------- EQ/International Core PLUS 1.05% - --------------------------------------------------- EQ/Large Cap Core PLUS 0.83% - --------------------------------------------------- EQ/Large Cap Growth PLUS 0.82% - --------------------------------------------------- EQ/Legg Mason Value Equity 0.97% - --------------------------------------------------- EQ/Lord Abbett Growth and Income 0.98% - --------------------------------------------------- EQ/Lord Abbett Large Cap Core 0.99% - --------------------------------------------------- EQ/Lord Abbett Mid Cap Value 1.04% - --------------------------------------------------- EQ/Mid Cap Value PLUS 0.81% - --------------------------------------------------- EQ/Montag & Caldwell Growth 1.13% - --------------------------------------------------- EQ/T. Rowe Price Growth Stock 0.87% - --------------------------------------------------- EQ/UBS Growth and Income 1.04% - --------------------------------------------------- EQ/Van Kampen Comstock 0.99% - --------------------------------------------------- EQ/Van Kampen Mid Cap Growth 1.04% - --------------------------------------------------- (8) In addition to the fee waiver and/or expense reimbursement discussed in the footnote immediately above, AXA Equitable, voluntarily will waive all its management and administration fees and reimburse all other expenses associated with the EQ/Franklin Templeton Founding Strategy Portfolio ("Portfolio") (exclusive of taxes, interest, brokerage commissions, capitalized expenses, expenses of the investment companies in which the Portfolio invests, Rule 12b-1 fees and extraordinary expenses). Accordingly, the Total Annual Operating Expenses (including Acquired Fund Fees and Expenses), taking into account the voluntary waiver by AXA Equitable, will be 1.30%. The voluntary waiver by AXA Equitable will remain in effect until April 30, 2009. EXAMPLES: EQUI-VEST(SM) VANTAGE(SM) CONTRACTS These examples are intended to help you compare the cost of investing in the EQUI-VEST(SM) Vantage(SM) contract with the cost of investing in other variable annuity contracts. These costs include contract owner transaction expenses, contract fees, separate account annual expenses, and underlying Trust fees and expenses (including underlying portfolio fees and expenses). For a complete description of portfolio charges and expenses, please see the prospectus for each Trust. The examples below show the expenses that a hypothetical certificate holder would pay in the situations illustrated. The fixed maturity options and the guaranteed interest option are not covered by the fee table and examples. However, the withdrawal charge, the optional enhanced death benefit charge, the third-party transfer or direct rollover charge and the charge if you elect a Variable Immediate Annuity payout option do apply to amounts in the fixed maturity options and the guaranteed interest option. A market value adjustment (up or down) will apply as a result of a withdrawal, transfer, or surrender of amounts from a fixed maturity option. Please note that the charges that would apply under your certificate may be lower if: (i) your participation is under a contract with lower Separate Account A charges; (ii) your participation is under a contract that either no longer has a withdrawal charge, or has a lesser percentage withdrawal charge, or has a shorter withdrawal charge period associated with it than is used in the examples; or (iii) you have not elected the optional enhanced death benefit. The EQUI-VEST(SM) Vantage(SM) contracts were first offered on January 14, 2002. These examples should not be considered a representation of past or future expenses for any option. 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. The examples assume that you invest $10,000 in the certificate for the time periods indicated and that your investment has a 5% return each year. The examples also assume (i) maximum contract charges rather than the lower current expenses discussed in "Charges and expenses" later in this supplement; (ii) the total annual expenses of the portfolios (before expense limitations) set forth in the previous tables; (iii) that the optional enhanced death benefit has been elected; (iv) there is no waiver of the withdrawal charge; and (v) the Contract Year and Participation Year are the same. Although your actual costs may be higher or lower, based on these assumptions, your costs would be: 6
- ------------------------------------------------------------------------------------------------------ If you surrender your contract at the end of the applicable time period -------------------------------------------- 1 year 3 years 5 years 10 years - ------------------------------------------------------------------------------------------------------ AXA PREMIER VIP TRUST: - ------------------------------------------------------------------------------------------------------ AXA Aggressive Allocation $ 876 $1,447 $1,934 $2,914 AXA Conservative Allocation $ 857 $1,391 $1,840 $2,716 AXA Conservative-Plus Allocation $ 862 $1,406 $1,864 $2,769 AXA Moderate Allocation $ 866 $1,418 $1,884 $2,810 AXA Moderate-Plus Allocation $ 870 $1,430 $1,904 $2,852 Multimanager Aggressive Equity $ 836 $1,329 $1,735 $2,493 Multimanager Core Bond $ 833 $1,320 $1,720 $2,461 Multimanager Health Care $ 899 $1,518 $2,051 $3,158 Multimanager High Yield $ 833 $1,320 $1,720 $2,461 Multimanager International Equity $ 880 $1,459 $1,953 $2,955 Multimanager Large Cap Core Equity $ 867 $1,421 $1,889 $2,821 Multimanager Large Cap Growth $ 869 $1,427 $1,899 $2,841 Multimanager Large Cap Value $ 864 $1,412 $1,874 $2,789 Multimanager Mid Cap Growth $ 887 $1,480 $1,988 $3,026 Multimanager Mid Cap Value $ 886 $1,477 $1,983 $3,016 Multimanager Small Cap Growth $ 889 $1,485 $1,998 $3,047 Multimanager Small Cap Value $ 878 $1,453 $1,944 $2,934 Multimanager Technology $ 899 $1,518 $2,051 $3,158 Target 2015 Allocation $ 991 $1,787 $2,496 $4,049 Target 2025 Allocation $ 962 $1,701 $2,355 $3,771 Target 2035 Allocation $1,057 $1,978 $2,805 $4,640 Target 2045 Allocation $1,100 $2,099 $2,999 $4,998 - ------------------------------------------------------------------------------------------------------ EQ ADVISORS TRUST: - ------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Common Stock $ 818 $1,272 $1,639 $2,288 EQ/AllianceBernstein Intermediate Government Securities $ 820 $1,281 $1,654 $2,320 EQ/AllianceBernstein International $ 846 $1,359 $1,785 $2,600 EQ/AllianceBernstein Large Cap Growth $ 860 $1,400 $1,855 $2,748 EQ/AllianceBernstein Quality Bond $ 821 $1,284 $1,659 $2,331 EQ/AllianceBernstein Small Cap Growth $ 844 $1,353 $1,775 $2,579 EQ/AllianceBernstein Value $ 828 $1,305 $1,695 $2,407 EQ/AXA Rosenberg Value Long/Short Equity $1,085 $2,057 $2,932 $4,875 EQ/BlackRock Basic Value Equity $ 825 $1,296 $1,679 $2,375 EQ/BlackRock International Value $ 857 $1,391 $1,840 $2,716 EQ/Boston Advisors Equity Income $ 846 $1,359 $1,785 $2,600 EQ/Calvert Socially Responsible $ 845 $1,356 $1,780 $2,589 EQ/Capital Guardian Growth $ 837 $1,332 $1,740 $2,504 EQ/Capital Guardian Research $ 833 $1,320 $1,720 $2,461 EQ/Caywood-Scholl High Yield Bond $ 833 $1,320 $1,720 $2,461 EQ/Davis New York Venture $ 860 $1,400 $1,855 $2,748 EQ/Equity 500 Index $ 796 $1,207 $1,527 $2,044 EQ/Evergreen International Bond $ 844 $1,353 $1,775 $2,579 EQ/Evergreen Omega $ 847 $1,362 $1,790 $2,611 EQ/FI Mid Cap $ 838 $1,335 $1,745 $2,515 EQ/Franklin Income $ 862 $1,406 $1,864 $2,769 EQ/Franklin Small Cap Value $ 865 $1,415 $1,879 $2,800 EQ/Franklin Templeton Founding Strategy $ 889 $1,485 $1,998 $3,047 - ------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------ If you annuitize at the end of the applicable time period(1) --------------------------------------------- 1 year 3 years 5 years 10 years - ------------------------------------------------------------------------------------------------------ AXA PREMIER VIP TRUST: - ------------------------------------------------------------------------------------------------------ AXA Aggressive Allocation N/A $1,447 $1,934 $2,914 AXA Conservative Allocation N/A $1,391 $1,840 $2,716 AXA Conservative-Plus Allocation N/A $1,406 $1,864 $2,769 AXA Moderate Allocation N/A $1,418 $1,884 $2,810 AXA Moderate-Plus Allocation N/A $1,430 $1,904 $2,852 Multimanager Aggressive Equity N/A $1,329 $1,735 $2,493 Multimanager Core Bond N/A $1,320 $1,720 $2,461 Multimanager Health Care N/A $1,518 $2,051 $3,158 Multimanager High Yield N/A $1,320 $1,720 $2,461 Multimanager International Equity N/A $1,459 $1,953 $2,955 Multimanager Large Cap Core Equity N/A $1,421 $1,889 $2,821 Multimanager Large Cap Growth N/A $1,427 $1,899 $2,841 Multimanager Large Cap Value N/A $1,412 $1,874 $2,789 Multimanager Mid Cap Growth N/A $1,480 $1,988 $3,026 Multimanager Mid Cap Value N/A $1,477 $1,983 $3,016 Multimanager Small Cap Growth N/A $1,485 $1,998 $3,047 Multimanager Small Cap Value N/A $1,453 $1,944 $2,934 Multimanager Technology N/A $1,518 $2,051 $3,158 Target 2015 Allocation N/A $1,787 $2,496 $4,049 Target 2025 Allocation N/A $1,701 $2,355 $3,771 Target 2035 Allocation N/A $1,978 $2,805 $4,640 Target 2045 Allocation N/A $2,099 $2,999 $4,998 - ------------------------------------------------------------------------------------------------------ EQ ADVISORS TRUST: - ------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Common Stock N/A $1,272 $1,639 $2,288 EQ/AllianceBernstein Intermediate Government Securities N/A $1,281 $1,654 $2,320 EQ/AllianceBernstein International N/A $1,359 $1,785 $2,600 EQ/AllianceBernstein Large Cap Growth N/A $1,400 $1,855 $2,748 EQ/AllianceBernstein Quality Bond N/A $1,284 $1,659 $2,331 EQ/AllianceBernstein Small Cap Growth N/A $1,353 $1,775 $2,579 EQ/AllianceBernstein Value N/A $1,305 $1,695 $2,407 EQ/AXA Rosenberg Value Long/Short Equity N/A $2,057 $2,932 $4,875 EQ/BlackRock Basic Value Equity N/A $1,296 $1,679 $2,375 EQ/BlackRock International Value N/A $1,391 $1,840 $2,716 EQ/Boston Advisors Equity Income N/A $1,359 $1,785 $2,600 EQ/Calvert Socially Responsible N/A $1,356 $1,780 $2,589 EQ/Capital Guardian Growth N/A $1,332 $1,740 $2,504 EQ/Capital Guardian Research N/A $1,320 $1,720 $2,461 EQ/Caywood-Scholl High Yield Bond N/A $1,320 $1,720 $2,461 EQ/Davis New York Venture N/A $1,400 $1,855 $2,748 EQ/Equity 500 Index N/A $1,207 $1,527 $2,044 EQ/Evergreen International Bond N/A $1,353 $1,775 $2,579 EQ/Evergreen Omega N/A $1,362 $1,790 $2,611 EQ/FI Mid Cap N/A $1,335 $1,745 $2,515 EQ/Franklin Income N/A $1,406 $1,864 $2,769 EQ/Franklin Small Cap Value N/A $1,415 $1,879 $2,800 EQ/Franklin Templeton Founding Strategy N/A $1,485 $1,998 $3,047 - ------------------------------------------------------------------------------------------------------ - ----------------------------------------------------------------------------------------------------- If you do not surrender your contract the applicable time period --------------------------------------------- 1 year 3 years 5 years 10 years - ----------------------------------------------------------------------------------------------------- AXA PREMIER VIP TRUST: - ----------------------------------------------------------------------------------------------------- AXA Aggressive Allocation $261 $ 803 $1,371 $2,914 AXA Conservative Allocation $241 $ 743 $1,272 $2,716 AXA Conservative-Plus Allocation $247 $ 759 $1,298 $2,769 AXA Moderate Allocation $251 $ 772 $1,319 $2,810 AXA Moderate-Plus Allocation $255 $ 784 $1,340 $2,852 Multimanager Aggressive Equity $219 $ 677 $1,161 $2,493 Multimanager Core Bond $216 $ 667 $1,145 $2,461 Multimanager Health Care $287 $ 878 $1,496 $3,158 Multimanager High Yield $216 $ 667 $1,145 $2,461 Multimanager International Equity $266 $ 816 $1,392 $2,955 Multimanager Large Cap Core Equity $252 $ 775 $1,324 $2,821 Multimanager Large Cap Growth $254 $ 781 $1,335 $2,841 Multimanager Large Cap Value $249 $ 765 $1,308 $2,789 Multimanager Mid Cap Growth $273 $ 838 $1,428 $3,026 Multimanager Mid Cap Value $272 $ 835 $1,423 $3,016 Multimanager Small Cap Growth $275 $ 844 $1,439 $3,047 Multimanager Small Cap Value $264 $ 809 $1,382 $2,934 Multimanager Technology $287 $ 878 $1,496 $3,158 Target 2015 Allocation $384 $1,166 $1,966 $4,049 Target 2025 Allocation $353 $1,074 $1,817 $3,771 Target 2035 Allocation $455 $1,370 $2,294 $4,640 Target 2045 Allocation $500 $1,499 $2,499 $4,998 - ----------------------------------------------------------------------------------------------------- EQ ADVISORS TRUST: - ----------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock $199 $ 617 $1,059 $2,288 EQ/AllianceBernstein Intermediate Government Securities $203 $ 626 $1,075 $2,320 EQ/AllianceBernstein International $230 $ 709 $1,214 $2,600 EQ/AllianceBernstein Large Cap Growth $245 $ 753 $1,287 $2,748 EQ/AllianceBernstein Quality Bond $204 $ 629 $1,081 $2,331 EQ/AllianceBernstein Small Cap Growth $228 $ 702 $1,203 $2,579 EQ/AllianceBernstein Value $211 $ 652 $1,118 $2,407 EQ/AXA Rosenberg Value Long/Short Equity $484 $1,454 $2,428 $4,875 EQ/BlackRock Basic Value Equity $208 $ 642 $1,102 $2,375 EQ/BlackRock International Value $241 $ 743 $1,272 $2,716 EQ/Boston Advisors Equity Income $230 $ 709 $1,214 $2,600 EQ/Calvert Socially Responsible $229 $ 705 $1,208 $2,589 EQ/Capital Guardian Growth $220 $ 680 $1,166 $2,504 EQ/Capital Guardian Research $216 $ 667 $1,145 $2,461 EQ/Caywood-Scholl High Yield Bond $216 $ 667 $1,145 $2,461 EQ/Davis New York Venture $245 $ 753 $1,287 $2,748 EQ/Equity 500 Index $176 $ 547 $ 941 $2,044 EQ/Evergreen International Bond $228 $ 702 $1,203 $2,579 EQ/Evergreen Omega $231 $ 712 $1,219 $2,611 EQ/FI Mid Cap $222 $ 683 $1,171 $2,515 EQ/Franklin Income $247 $ 759 $1,298 $2,769 EQ/Franklin Small Cap Value $250 $ 769 $1,314 $2,800 EQ/Franklin Templeton Founding Strategy $275 $ 844 $1,439 $3,047 - -----------------------------------------------------------------------------------------------------
7
- --------------------------------------------------------------------------------------------------------------------------------- If you surrender your contract at the end of If you annuitize at the end of the applicable time period the applicable time period(1) - --------------------------------------------------------------------------------------------------------------------------------- 1 year 3 years 5 years 10 years 1 year 3 years 5 years 10 years - --------------------------------------------------------------------------------------------------------------------------------- AXA PREMIER VIP TRUST: - --------------------------------------------------------------------------------------------------------------------------------- EQ/GAMCO Mergers and Acquisitions $866 $1,418 $1,884 $2,810 N/A $1,418 $1,884 $2,810 EQ/GAMCO Small Company Value $845 $1,356 $1,780 $2,589 N/A $1,356 $1,780 $2,589 EQ/International Core PLUS $851 $1,373 $1,810 $2,653 N/A $1,373 $1,810 $2,653 EQ/International Growth $869 $1,427 $1,899 $2,841 N/A $1,427 $1,899 $2,841 EQ/JPMorgan Core Bond $814 $1,260 $1,619 $2,244 N/A $1,260 $1,619 $2,244 EQ/JPMorgan Value Opportunities $831 $1,314 $1,710 $2,440 N/A $1,314 $1,710 $2,440 EQ/Large Cap Core PLUS $834 $1,323 $1,725 $2,472 N/A $1,323 $1,725 $2,472 EQ/Large Cap Growth PLUS $833 $1,320 $1,720 $2,461 N/A $1,320 $1,720 $2,461 EQ/Legg Mason Value Equity $839 $1,338 $1,750 $2,525 N/A $1,338 $1,750 $2,525 EQ/Long Term Bond $811 $1,252 $1,604 $2,211 N/A $1,252 $1,604 $2,211 EQ/Lord Abbett Growth and Income $838 $1,335 $1,745 $2,515 N/A $1,335 $1,745 $2,515 EQ/Lord Abbett Large Cap Core $843 $1,350 $1,770 $2,568 N/A $1,350 $1,770 $2,568 EQ/Lord Abbett Mid Cap Value $842 $1,347 $1,765 $2,557 N/A $1,347 $1,765 $2,557 EQ/Marsico Focus $855 $1,385 $1,830 $2,695 N/A $1,385 $1,830 $2,695 EQ/Mid Cap Value PLUS $838 $1,335 $1,745 $2,515 N/A $1,335 $1,745 $2,515 EQ/Money Market $803 $1,228 $1,563 $2,122 N/A $1,228 $1,563 $2,122 EQ/Montag & Caldwell Growth $847 $1,362 $1,790 $2,611 N/A $1,362 $1,790 $2,611 EQ/Mutual Shares $868 $1,424 $1,894 $2,831 N/A $1,424 $1,894 $2,831 EQ/Oppenheimer Global $903 $1,529 $2,071 $3,198 N/A $1,529 $2,071 $3,198 EQ/Oppenheimer Main Street Opportunity $888 $1,482 $1,993 $3,037 N/A $1,482 $1,993 $3,037 EQ/Oppenheimer Main Street Small Cap $896 $1,506 $2,032 $3,118 N/A $1,506 $2,032 $3,118 EQ/PIMCO Real Return $826 $1,299 $1,684 $2,386 N/A $1,299 $1,684 $2,386 EQ/Short Duration Bond $816 $1,266 $1,629 $2,266 N/A $1,266 $1,629 $2,266 EQ/Small Company Index $797 $1,210 $1,532 $2,056 N/A $1,210 $1,532 $2,056 EQ/T. Rowe Price Growth Stock $850 $1,370 $1,805 $2,642 N/A $1,370 $1,805 $2,642 EQ/Templeton Growth $872 $1,435 $1,914 $2,873 N/A $1,435 $1,914 $2,873 EQ/UBS Growth and Income $848 $1,365 $1,795 $2,621 N/A $1,365 $1,795 $2,621 EQ/Van Kampen Comstock $837 $1,332 $1,740 $2,504 N/A $1,332 $1,740 $2,504 EQ/Van Kampen Emerging Markets Equity $896 $1,506 $2,032 $3,118 N/A $1,506 $2,032 $3,118 EQ/Van Kampen Mid Cap Growth $842 $1,347 $1,765 $2,557 N/A $1,347 $1,765 $2,557 EQ/Van Kampen Real Estate $868 $1,424 $1,894 $2,831 N/A $1,424 $1,894 $2,831 - --------------------------------------------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------ If you do not surrender your contract at the end of the applicable time period - ------------------------------------------------------------------------------------ 1 year 3 years 5 years 10 years - ------------------------------------------------------------------------------------ AXA PREMIER VIP TRUST: - ------------------------------------------------------------------------------------ EQ/GAMCO Mergers and Acquisitions $251 $772 $1,319 $2,810 EQ/GAMCO Small Company Value $229 $705 $1,208 $2,589 EQ/International Core PLUS $235 $724 $1,240 $2,653 EQ/International Growth $254 $781 $1,335 $2,841 EQ/JPMorgan Core Bond $195 $604 $1,038 $2,244 EQ/JPMorgan Value Opportunities $214 $661 $1,134 $2,440 EQ/Large Cap Core PLUS $217 $671 $1,150 $2,472 EQ/Large Cap Growth PLUS $216 $667 $1,145 $2,461 EQ/Legg Mason Value Equity $223 $686 $1,176 $2,525 EQ/Long Term Bond $192 $594 $1,022 $2,211 EQ/Lord Abbett Growth and Income $222 $683 $1,171 $2,515 EQ/Lord Abbett Large Cap Core $227 $699 $1,198 $2,568 EQ/Lord Abbett Mid Cap Value $226 $696 $1,192 $2,557 EQ/Marsico Focus $239 $737 $1,261 $2,695 EQ/Mid Cap Value PLUS $222 $683 $1,171 $2,515 EQ/Money Market $184 $569 $ 979 $2,122 EQ/Montag & Caldwell Growth $231 $712 $1,219 $2,611 EQ/Mutual Shares $253 $778 $1,329 $2,831 EQ/Oppenheimer Global $291 $891 $1,516 $3,198 EQ/Oppenheimer Main Street Opportunity $274 $841 $1,434 $3,037 EQ/Oppenheimer Main Street Small Cap $282 $866 $1,475 $3,118 EQ/PIMCO Real Return $209 $645 $1,107 $2,386 EQ/Short Duration Bond $197 $610 $1,049 $2,266 EQ/Small Company Index $177 $550 $ 946 $2,056 EQ/T. Rowe Price Growth Stock $234 $721 $1,235 $2,642 EQ/Templeton Growth $257 $791 $1,350 $2,873 EQ/UBS Growth and Income $232 $715 $1,224 $2,621 EQ/Van Kampen Comstock $220 $680 $1,166 $2,504 EQ/Van Kampen Emerging Markets Equity $282 $866 $1,475 $3,118 EQ/Van Kampen Mid Cap Growth $226 $696 $1,192 $2,557 EQ/Van Kampen Real Estate $253 $778 $1,329 $2,831 - ------------------------------------------------------------------------------------
(1) Please see "When withdrawal charges do not apply" in "Charges and expenses" in the Prospectus and "Withdrawal charge for EQUI-VEST(SM) Vantage(SM) contracts" later in this Supplement for more information on withdrawal charge waivers upon annuitization. 8 CONDENSED FINANCIAL INFORMATION Please see Appendix I at the end of this Supplement for the unit values and number of units outstanding as of the period shown for each of the variable investment options available as of December 31, 2006. 6. THE FOLLOWING INFORMATION IS ADDED TO THE CHART IN THE SECTION ENTITLED "HOW YOU CAN PURCHASE AND CONTRIBUTE TO YOUR CONTRACT" IN "CONTRACT FEATURES AND BENEFITS" IN THE PROSPECTUS:
- ------------------------------------------------------------------------------------------------------------------------------------ Contract type Source of contributions Limitations on contributions - ------------------------------------------------------------------------------------------------------------------------------------ EQUI-VEST(SM) o Employer Contributions: Contributions made by the o For 2008, maximum amount of employer and employee Vantage(SM) Employer under the Plan, other than those contributions is generally the lesser of $46,000 or described in the items below. 100% of compensation, with maximum salary reduction contribution of $15,500. o Employer Matching Contributions: Employer Contributions matching Salary Reduction o If your employer`s plan permits and you are at least age Contributions under the terms of the Plan. 50 at any time during 2008, additional salary reduction "catch-up" contributions totalling up to $5,000 can be o Qualified Non-Elective and Qualified Matching made. Contributions: Contributions made by the Employer to meet the requirements of the nondiscrimination o All salary reduction contributions (whether pre-tax or tests set forth in the Code. designated Roth) may not exceed the total maximum for the year (for 2008, $15,500 and age 50 catch-up of o Salary Reduction Contributions (Elective Deferral $ 5,000). Contributions): Contributions under a salary reduction agreement that an employee enters into o Rollover or direct transfer contributions after age 70-1/2 with the Employer under the Plan. must be net of any required minimum distributions. o "Designated Roth contributions" under Section o Aggregate direct rollover and direct transfer 402A of the Code. contributions must meet AXA Equitable`s anticipated minimum contribution requirements or meet minimum o Rollover Contributions: Contributions of eligible plan participation requirements. rollover distributions directly or indirectly from another eligible retirement arrangement. o Different sources of contributions and earnings may be subject to withdrawal restrictions. o Non-Roth After-Tax Contributions: Amounts reported by the Employer as having non-Roth o We currently do not accept rollovers of non-Roth after-tax consequences under the Code. after-tax funds except as direct rollovers from 403(b) plans (we separately account for these rollover o Direct Transfer Contributions: Amounts directly contributions). transferred (either a plan-to-plan direct transfer or contract exchange under the same 403(b) plan). o We currently do not accept rollovers or direct transfers of funds from designated Roth accounts. o Additional "catch-up" contributions. - ------------------------------------------------------------------------------------------------------------------------------------
7. THE FIRST PARAGRAPH UNDER "OWNER AND ANNUITANT REQUIREMENTS" IN "CONTRACT FEATURES AND BENEFITS" IN THE PROSPECTUS IS REPLACED IN ITS ENTIRETY BY THE FOLLOWING: For the following employer-funded programs, the employee must be the owner on the contract: SEP-IRA, SARSEP-IRA, SIMPLE-IRA, TSA, University TSA (other than EQUI-VEST(SM) Vantage(SM) contracts) and Annuitant HR-10. 8. THE FOLLOWING IS ADDED AS THE LAST SECTION IN "CONTRACT FEATURES AND BENEFITS" IN THE PROSPECTUS: UNALLOCATED ACCOUNT When we receive cash transferred from a prior funding vehicle, the transferred amount will be credited as one lump sum to the plan's unallocated account. Any amount held in the plan's unallocated account becomes part of our guaranteed interest option and will be credited with interest at the rate applicable to amounts held in the guaranteed interest option. The transferred amount will remain in the plan's unallocated account until we have received all the information we require, including properly completed forms, to effect a transfer from the plan's unallocated account to a participant account. With respect to each participant, we will allocate amounts to each participant's account only after the employer provides instructions that are acceptable and necessary in order to complete the allocation process. We reserve the right to limit the period during which such instructions may be received to no more than 10 days from the initial transfer into the plan's unallocated account and to return funds to the employer for which transfer information has not been timely received in good order. In no event will we hold the transferred assets in the unallocated account 9 for more than 105 days from the contract date. Under no circumstances will we be required to transfer to participant accounts an amount in aggregate greater than the amount deposited by the employer plus such interest as we credited to the unallocated account, unless otherwise expressly agreed upon between the employer and us. The employer is solely responsible for effectuating the asset transfers in accordance with all applicable laws and regulations. 9. THE FOLLOWING IS ADDED AT THE END OF THE FIRST PARAGRAPH UNDER "WITHDRAWING YOUR ACCOUNT VALUE" IN "ACCESSING YOUR MONEY" IN THE PROSPECTUS: Except as set forth in the following sentence, you may only withdraw amounts from your account value that are 100% vested subject to the employer's approval, plan rules and applicable laws. You may, however, transfer any non-vested account value attributable to you under the contract to another annuity contract, employer designated funding vehicle or other funding vehicle permitted by the employer and permitted under the tax law. Any withdrawal request you make requires contract holder approval. In addition, in many instances if you are under age 59-1/2, your ability to withdraw funds from an EQUI-VEST(SM) Vantage(SM) contract may be limited by the plan and section 403(b) of the Code. For example, amounts attributable to salary reduction contributions may not be withdrawn unless due to your death, disability or severance from employment with the employer who provided the funds. Also, you may be able to withdraw salary reduction contributions only (that is, no earnings) on account of hardship under federal income tax rules. 10. THE FOLLOWING IS ADDED AS A NEW SECTION FOLLOWING "WITHDRAWING YOUR ACCOUNT VALUE" IN "ACCESSING YOUR MONEY" IN THE PROSPECTUS: FORFEITURES A 403(b) plan may have a vesting schedule applicable to some or all employer contributions. Forfeitures can arise when a participant who is not fully vested under a plan separates from service. 403(b) plan participants should consult the plan administrator to learn more about the vesting schedule. When a forfeiture occurs, we will withdraw any unvested portion of a 403(b) plan participant`s cash value and deposit such amount in a forfeiture account in the contract. The plan administrator must tell us the unvested balance. We allocate amounts in the forfeiture account to the guaranteed interest option, unless otherwise agreed to by the contract holder and us. Forfeited account values may be reallocated to active plan participants in accordance with the terms of the plan. Special rules apply to how the withdrawal charge, if any, will apply when forfeitures have occurred. See "Withdrawal Charge for EQUI-VEST(SM) Vantage(SM) contracts" under "Charges and expenses" in this Prospectus Supplement. 11. THE FOLLOWING IS ADDED AS THE LAST SENTENCE OF THE FIRST PARAGRAPH UNDER "LOANS UNDER TSA, GOVERNMENTAL EMPLOYER EDC AND CORPORATE TRUSTEED CONTRACTS" IN "ACCESSING YOUR MONEY" IN THE PROSPECTUS: Any participant loan requests require contract holder approval. 12. THE FOLLOWING IS ADDED AFTER THE SECTION ENTITLED "TERMINATION" IN "ACCESSING YOUR MONEY" IN THE PROSPECTUS: EQUI-VEST(SM) VANTAGE(SM) TERMINATION OF PARTICIPATION We may terminate your participation under the EQUI-VEST(SM) Vantage(SM) contract and pay out your account value if: (1) your account value is less than $500 and we have not received contributions on your behalf for a period of three years; (2) you request a partial withdrawal that reduces your account value to an amount of less than $500; (3) we have not received any contributions on your behalf within 120 days from your participation date; or (4) the plan is no longer qualified under Section 403(b) of the Code and the EQUI-VEST(SM) Vantage(SM) contract is terminated by us. We will deduct the amount of any outstanding loan balance and any applicable withdrawal charge from the account value when we terminate a participant`s participation under the contract. The contract holder may discontinue an EQUI-VEST(SM) Vantage(SM) contract. Discontinuance of a contract means that the contract holder will not permit any further salary deferral or employer contributions to be made under the contract. If an EQUI-VEST(SM) Vantage(SM) contract is discontinued the contract holder may withdraw any cash value in the forfeiture account, as well as any portion of the account value attributable to a participant that is not vested and: (i) transfer, exchange or directly roll over such amounts to another employer-designated funding vehicle; or (ii) transfer, distribute or directly roll over such amounts in any other manner permitted under section 403(b) of the Code and the terms of the plan. If an EQUI-VEST(SM) Vantage(SM) contract is discontinued, if and as permitted under the plan, the participant may withdraw any portion of the account value attributable to 10 the participant under the contract that is vested and: (i) transfer, exchange or directly roll over such amounts to the employer-designated funding vehicle or permit the contract holder to do so; (ii) directly roll over such amounts to another eligible retirement plan (iii) retain such amounts, if permitted under federal tax law; or (iv) maintain such account value with us. If the account value remains with us, such amounts will continue to be subject to withdrawal charges based upon the contract holder`s original withdrawal charge schedule. An EQUI-VEST(SM) Vantage(SM) contract may be terminated only after all participation under the contract is terminated. 13. THE FOLLOWING IS ADDED AFTER THE INFORMATION UNDER "FOR ALL SERIES ISSUED IN NEW YORK -- FIXED MATURITY OPTIONS*" IN "CHARGES AND EXPENSES" IN THE PROSPECTUS: CHARGES UNDER EQUI-VEST(SM) VANTAGE(SM) CONTRACTS For both new and established groups or sponsored arrangements that have formally requested a contract proposal from us, our prices may be negotiable. Price variations may impact the financial professional's compensation. An employer or plan administrator should ask about possible fee reductions or contract adjustments based on its situation. It would be in your best interest for your employer to formally request a contract proposal from us. Any variation in charges, pricing or benefits will reflect differences in our costs of selling the contracts and/or the contract services we or your financial professional provide and will not be unfairly discriminatory. For more information, please see "Variations in charges" in "Charges and expenses" in the Prospectus at page 53. CHARGE AGAINST THE SEPARATE ACCOUNT We deduct this charge against the assets in the separate account to compensate us for mortality and expense risks, as well as administrative and financial accounting expenses under the contract. The charge is deducted daily at an annual rate that can vary by group between 0.50% to 0.90% of daily net assets attributable to all certificates under the group contract. Differences in this charge are due to variations in group characteristics which may include: o the factors on which the mortality and expense risks charge and administration charges are based, o the extent to which certain administrative functions in connection with the TSA contracts are to be performed by us or by the contract holder, o the total amount of Plan assets The mortality risk we assume is the risk that participants as a group will live for a longer time than our actuarial tables predict. If that happens, we would be paying more in annuity benefits than we planned. We assume a mortality risk to the extent that at the time of death, the guaranteed death benefit exceeds the cash value of the contract. The expense risk we assume is the risk that it will cost us more to issue and administer the contracts than we expect. To the extent that the mortality and expense risk charges are not needed to cover the actual expenses incurred, they may be considered an indirect reimbursement for certain sales and promotional expenses relating to the contracts. A participant`s certificate will set forth the applicable separate account charge. We will determine the separate account charge pursuant to our established actuarial procedures, and will not discriminate unreasonably or unfairly against participants under any EQUI-VEST(SM) Vantage(SM) contracts. CHARGE FOR THIRD-PARTY TRANSFER OR ROLLOVER We may deduct a charge for third-party transfers. A third party transfer is where you ask us to directly transfer or roll over funds from your certificate to an employer designated funding vehicle or any other permissible funding vehicle offered by another provider. The charge is currently $25 ($65 maximum) per occurrence per participant. This charge will also be imposed on each third-party transfer out of the contract's forfeiture account into another permissible funding vehicle. This charge does not apply to reallocations from the forfeiture account to participant annuity accounts under the contract. Transfers are subject to any required employer approval. CHARGE FOR OPTIONAL ENHANCED DEATH BENEFIT If you elect the optional enhanced death benefit, we deduct a charge annually from your account value on each anniversary of your participation date. The charge is equal to 0.15% of your account value on the participation date anniversary. The charge is deducted pro rata from the variable investment options and the guaranteed interest option. If those amounts are insufficient, we will make up the required amounts from the fixed maturity options to the extent you have value in those options. Charges deducted from the fixed maturity options are considered withdrawals and, as such, will result in a market value adjustment. WITHDRAWAL CHARGE FOR EQUI-VEST(SM) VANTAGE(SM) CONTRACTS A withdrawal charge will apply during either the first 5 contract years or the first 5 participation years, as set forth in the contract and participation certificate. Differences in the period for which and circumstances under which this charge applies are due to variations in group characteristics 11 including the total amount of Plan assets. We will determine the period of and circumstances under which the withdrawal charge applies pursuant to our established procedures, and will not discriminate unreasonably or unfairly against participants under any EQUI-VEST(SM) Vantage(SM) contracts. If you participate in a contract where the withdrawal is on a contract year basis, rather than a participant year basis, a withdrawal charge will apply to amounts withdrawn from the contract during the first 5 contract years only if: (i) you transfer or directly roll over your account value to another annuity contract, employer designated funding vehicle or other funding vehicle permitted under the tax law; or (ii) the contract holder withdraws amounts from the contract and transfers or directly rolls over amounts to another 403(b) employer-designated funding vehicle or transfers or distributes amounts in any other manner permitted under section 403(b) of the Code during the withdrawal charge period. If you participate in a contract where the withdrawal is on a participant year basis, rather than a contract year basis, a withdrawal charge will apply except when: (1) You withdraw no more than 10% of the vested account value each participation year under the contract. (2) You have reached age 55 and retired or have severed from employment with the employer. (3) The withdrawal is made to satisfy minimum distribution requirements. (4) You elect a withdrawal that qualifies as a hardship withdrawal under the Code. (5) You die and a death benefit is payable to the beneficiary. (6) The withdrawal is made to provide an annuity from AXA Equitable requested by the employer. (7) You qualify to receive Social Security disability benefits as certified by the Social Security Administration or you are totally disabled. Total disability is your incapacity, resulting from injury or disease, to engage in any occupation for remuneration or profit. Such total disability must be certified as having been continuous for a period of at least six months prior to notice of claim and you must continue to be deemed totally disabled. Written notice of claim must be given to us during the your lifetime and during the period of total disability prior to each withdrawal. Along with the Notice of Claim, you must submit acceptable proof of disability. Such proof of disability must be either (a) evidence of Social Security disability determination or (b) a statement from an independent U.S. licensed physician stating that you meet the definition of total disability as stated above. Such certification must be resubmitted every 12 months. Failure to furnish proof of disability within the required time will not reduce any claim if it was not reasonably possible to give proof within such time. Provided such proof is furnished as soon as reasonably possible and in no event, except in the absence of legal capacity, later than one year from the time proof is otherwise required. (8) We receive proof satisfactory to us that your life expectancy is six months or less (such proof must include, but is not limited to, certification by a licensed physician). (9) You are confined to a nursing home for more than 90 days (or such other period, as required in your state) as verified by a licensed physician. A nursing home for this purpose means one that 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. The withdrawal charge will apply if the condition as described in items 7 through 9 above existed at the time participation under the contract began or if the condition began within the 12 month period following such participation. In instances where a withdrawal charge applies, other than where your participation under the contract is terminated, in order to give you the exact dollar amount of the withdrawal requested, we deduct the amount of the withdrawal and the amount of the withdrawal charges from your account value. Any amount deducted to pay withdrawal charges is also subject to a withdrawal charge. We deduct the amount of the withdrawal and the withdrawal charge pro rata from the variable investment options and from the guaranteed investment option. If these amounts are insufficient we will make up the required amounts from the fixed maturity options. If we make up the required amounts from the fixed maturity options, a market value adjustment will apply. In the case where you terminate participation under the contract, we will pay your account value after the withdrawal charge has been imposed (cash value). 12 The withdrawal charge is equal to 6% of the amount withdrawn (or the defaulted loan amount, if applicable) from your account value during the first four contract or participation years, as applicable and 5% of the amount withdrawn (or the defaulted loan amount) from your account value during the fifth contract or participation year, as applicable. The total of all withdrawal charges will never exceed 8% of all contributions made under your certificate during the first five contract or participation years, as applicable, that are permitted to be withdrawn. FORFEITED ACCOUNT VALUE. If a portion of your account value is forfeited under the terms of the plan, a withdrawal charge will be assessed only against the vested contribution amounts. If the contract holder withdraws the forfeited amount from the contract, a withdrawal charge, if applicable, will be imposed at that time. 14. THE FOLLOWING IS ADDED AS A NEW SECTION AFTER "DEATH BENEFIT" IN "PAYMENT OF DEATH BENEFIT" IN THE PROSPECTUS: EQUI-VEST(SM) VANTAGE(SM) DEATH BENEFIT The Equi-Vest(SM) Vantage(SM) contract provides a Death Benefit. If you do not elect the enhanced death benefit described below, the death benefit is equal to your account value (without any negative market value adjustment that would otherwise apply) as of the date we receive satisfactory proof of death, any required instructions for the method of payment, information and forms necessary to effect payment, less any outstanding loan or the standard death benefit, whichever provides the highest amount. The standard death benefit is equal to your total contributions, adjusted for withdrawals and any withdrawal charges, any taxes that apply and less any outstanding loan balances (including any accrued, but unpaid, interest). EQUI-VEST(SM) VANTAGE(SM) ENHANCED DEATH BENEFIT For an additional annual fee you may elect the enhanced death benefit. If you elect the enhanced death benefit, the standard death benefit described above will not apply. You may elect the enhanced death benefit only at the time you apply to participate under the EQUI-VEST(SM) Vantage(SM) contract. Additionally, to elect this benefit, you must be younger than age 76 when participation under the contract begins. Once you elect this benefit, you may not cancel it as long as you continue participation in the contract. The death benefit is equal to your account value (without any negative market value adjustment that would otherwise apply) as of the date we receive satisfactory proof of your death, any required instructions for the method of payment, information and forms necessary to effect payment (less any outstanding loan) or the enhanced death benefit as of the date of your death. On the participation date, your enhanced death benefit equals your initial contribution. Then, on each third participation date anniversary until you are age 85, we will determine your enhanced death benefit by comparing your current enhanced death benefit to your account value on that third participation date anniversary. If your account value is higher than your enhanced death benefit, we will increase your enhanced death benefit to equal your account value. On the other hand, if your account value on any third contract date anniversary is less than your enhanced death benefit, we will not adjust your enhanced death benefit either up or down. If you make additional contributions, we will increase your current enhanced death benefit by the dollar amount of the contribution on the date the contribution is allocated to your investment options. If you take a withdrawal from your account value, we will adjust your death benefit on the date you take the withdrawal. HOW WITHDRAWALS AFFECT THE STANDARD DEATH BENEFIT AND THE ENHANCED DEATH BENEFIT Each withdrawal you make will reduce the amount of your current standard death benefit or enhanced death benefit on a pro rata basis. Reduction on a pro rata basis means that we calculate the percentage of your current account value that is being withdrawn and we reduce your current standard death benefit or enhanced death benefit by that same percentage. For example, if your account value is $30,000 and you withdraw $12,000, you have withdrawn 40% of your account value. If your enhanced death benefit was $40,000 before the withdrawal, it would be reduced by $16,000 ($40,000 x .40) and your new enhanced death benefit after the withdrawal would be $24,000 ($40,000-$16,000). 15. THE FIRST BULLET UNDER "TAX-SHELTERED ANNUITY ARRANGEMENTS (TSAS) -- CONTRIBUTIONS TO TSAS" IN "TAX INFORMATION" IN THE PROSPECTUS IS REPLACED IN ITS ENTIRETY BY THE FOLLOWING: o Annual contributions made through the employer`s payroll, which may include your salary reduction contributions and employer contributions. Some employer contributions may be subject to forfeiture under an employer`s plan. 16. THE FOLLOWING SENTENCE IS ADDED AT THE END OF THE FINAL PARAGRAPH UNDER "TAX-SHELTERED ANNUITY ARRANGEMENTS (TSAS) -- ROLLOVER CONTRIBUTIONS" IN "TAX INFORMATION" IN THE PROSPECTUS: We separately account for rollover contributions to EQUI-VEST(SM) Vantage(SM) contracts. 13 17. THE FOLLOWING SENTENCE IS ADDED AT THE END OF THE FIRST PARAGRAPH UNDER "DISTRIBUTIONS FROM QUALIFIED PLANS AND TSAS -- WITHDRAWAL RESTRICTIONS" IN "TAX INFORMATION" IN THE PROSPECTUS: The plan may also impose withdrawal restrictions on employer contributions and related earnings. 18. THE FOLLOWING SENTENCE IS ADDED AT THE END OF THE FINAL PARAGRAPH UNDER "DISTRIBUTIONS FROM QUALIFIED PLANS AND TSAS -- WITHDRAWAL RESTRICTIONS" IN "TAX INFORMATION" IN THE PROSPECTUS: We separately account for rollover contributions to EQUI-VEST(SM) Vantage(SM) contracts. 14 Appendix I: Condensed financial information - -------------------------------------------------------------------------------- The following tables show the accumulation unit values and the number of outstanding units for each variable investment option under the contract at the last business day of the periods shown. The unit values and number of units outstanding are for contracts offered under Separate Account A with the same daily asset charge of 0.90%, 0.70% and 0.50%. The information presented is shown for the past ten years, or from the first year the particular contracts were offered if less than ten years ago. EQUI-VEST(SM) VANTAGE(SM) CONTRACTS THE UNIT VALUES AND NUMBERS OF UNITS OUTSTANDING SHOWN BELOW ARE FOR CONTRACTS OFFERED UNDER SEPARATE ACCOUNT A WITH THE SAME DAILY ASSET CHARGE OF 0.90%. UNIT VALUES AND NUMBER OF UNITS OUTSTANDING FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007.
- -------------------------------------------------------------------------------------------------------------------------- For the years ending December 31, -------------------------------------------------------------- 1999 2000 2001 2002 2003 - -------------------------------------------------------------------------------------------------------------------------- AXA Aggressive Allocation - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 109.27 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- AXA Conservative Allocation - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 102.27 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- AXA Conservative-Plus Allocation - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 104.26 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- AXA Moderate Allocation - -------------------------------------------------------------------------------------------------------------------------- Unit value $ 121.00 $ 118.02 $ 114.50 $ 99.02 $ 116.91 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- AXA Moderate-Plus Allocation - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 108.08 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock - -------------------------------------------------------------------------------------------------------------------------- Unit value $ 130.14 $ 110.60 $ 97.85 $ 64.63 $ 95.79 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 1 - -------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Intermediate Government Securities - -------------------------------------------------------------------------------------------------------------------------- Unit value $ 102.33 $ 110.43 $ 118.06 $ 127.05 $ 128.60 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 1 - -------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein International - -------------------------------------------------------------------------------------------------------------------------- Unit value $ 131.34 $ 100.03 $ 76.02 $ 67.72 $ 90.72 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 9 - -------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Large Cap Growth - -------------------------------------------------------------------------------------------------------------------------- Unit value $ 116.55 $ 94.27 $ 70.28 $ 48.46 $ 59.16 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 3 - -------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Quality Bond - -------------------------------------------------------------------------------------------------------------------------- Unit value $ 100.33 $ 110.65 $ 118.44 $ 126.38 $ 129.67 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 3 - -------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Small Cap Growth - -------------------------------------------------------------------------------------------------------------------------- Unit value $ 110.37 $ 124.31 $ 106.88 $ 73.89 $ 103.19 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 3 - -------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Value - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 95.39 $ 81.63 $ 104.15 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 5 - -------------------------------------------------------------------------------------------------------------------------- EQ/AXA Rosenberg Value Long/Short Equity - -------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 99.57 - -------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- - --------------------------------------------------------------------------------------------------------------- For the years ending December 31, ---------------------------------------------------- 2004 2005 2006 2007 - --------------------------------------------------------------------------------------------------------------- AXA Aggressive Allocation - --------------------------------------------------------------------------------------------------------------- Unit value $ 121.06 $ 129.64 $ 151.47 $ 159.36 - --------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 1 5 9 - --------------------------------------------------------------------------------------------------------------- AXA Conservative Allocation - --------------------------------------------------------------------------------------------------------------- Unit value $ 107.45 $ 109.09 $ 115.00 $ 120.57 - --------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 1 1 2 - --------------------------------------------------------------------------------------------------------------- AXA Conservative-Plus Allocation - --------------------------------------------------------------------------------------------------------------- Unit value $ 111.33 $ 113.91 $ 122.77 $ 128.34 - --------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 2 4 7 - --------------------------------------------------------------------------------------------------------------- AXA Moderate Allocation - --------------------------------------------------------------------------------------------------------------- Unit value $ 125.97 $ 130.82 $ 143.03 $ 150.62 - --------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 3 6 9 13 - --------------------------------------------------------------------------------------------------------------- AXA Moderate-Plus Allocation - --------------------------------------------------------------------------------------------------------------- Unit value $ 119.63 $ 126.46 $ 143.50 $ 151.29 - --------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 1 6 16 35 - --------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock - --------------------------------------------------------------------------------------------------------------- Unit value $ 108.33 $ 111.98 $ 122.83 $ 125.96 - --------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 2 4 6 7 - --------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Intermediate Government Securities - --------------------------------------------------------------------------------------------------------------- Unit value $ 129.91 $ 130.34 $ 133.20 $ 141.06 - --------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 2 2 2 - --------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein International - --------------------------------------------------------------------------------------------------------------- Unit value $ 106.24 $ 121.39 $ 148.60 $ 164.52 - --------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 13 12 11 - --------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Large Cap Growth - --------------------------------------------------------------------------------------------------------------- Unit value $ 63.54 $ 72.38 $ 71.34 $ 80.58 - --------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 1 4 6 9 - --------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Quality Bond - --------------------------------------------------------------------------------------------------------------- Unit value $ 133.32 $ 134.77 $ 138.66 $ 143.64 - --------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 1 4 4 5 - --------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Small Cap Growth - --------------------------------------------------------------------------------------------------------------- Unit value $ 116.56 $ 128.81 $ 139.15 $ 160.90 - --------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 1 4 4 4 - --------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Value - --------------------------------------------------------------------------------------------------------------- Unit value $ 117.09 $ 122.34 $ 147.18 $ 139.22 - --------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 1 13 18 16 - --------------------------------------------------------------------------------------------------------------- EQ/AXA Rosenberg Value Long/Short Equity - --------------------------------------------------------------------------------------------------------------- Unit value $ 102.25 $ 108.95 $ 109.53 $ 112.11 - --------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- - ---------------------------------------------------------------------------------------------------------------
A-1 EQUI-VEST(SM) VANTAGE(SM) CONTRACTS (CONTINUED) THE UNIT VALUES AND NUMBERS OF UNITS OUTSTANDING SHOWN BELOW ARE FOR CONTRACTS OFFERED UNDER SEPARATE ACCOUNT A WITH THE SAME DAILY ASSET CHARGE OF 0.90%. UNIT VALUES AND NUMBER OF UNITS OUTSTANDING FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007.
- ------------------------------------------------------------------------------------------------------------ For the years ending December 31, --------------------------------------------------------------- 1999 2000 2001 2002 2003 - ------------------------------------------------------------------------------------------------------------ EQ/BlackRock Basic Value Equity - ------------------------------------------------------------------------------------------------------------ Unit value $ 113.77 $ 126.07 $ 131.84 $ 108.89 $ 141.57 - ------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 3 - ------------------------------------------------------------------------------------------------------------ EQ/BlackRock International Value - ------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 76.66 $ 97.27 - ------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 5 - ------------------------------------------------------------------------------------------------------------ EQ/Boston Advisors Equity Income - ------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------ EQ/Calvert Socially Responsible - ------------------------------------------------------------------------------------------------------------ Unit value $ 107.76 $ 103.69 $ 87.65 $ 63.89 $ 81.01 - ------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 1 - ------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Growth - ------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 54.67 $ 67.15 - ------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 1 - ------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Research - ------------------------------------------------------------------------------------------------------------ Unit value $ 106.96 $ 112.26 $ 109.00 $ 81.38 $ 106.04 - ------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 7 - ------------------------------------------------------------------------------------------------------------ EQ/Caywood-Scholl High Yield Bond - ------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------ EQ/Davis New York Venture - ------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------ EQ/Equity 500 Index - ------------------------------------------------------------------------------------------------------------ Unit value $ 125.64 $ 112.30 $ 97.75 $ 75.18 $ 95.23 - ------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 8 - ------------------------------------------------------------------------------------------------------------ EQ/Evergreen International Bond - ------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------ EQ/Evergreen Omega - ------------------------------------------------------------------------------------------------------------ Unit value $ 106.75 $ 93.40 $ 76.81 $ 57.84 $ 79.22 - ------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 1 - ------------------------------------------------------------------------------------------------------------ EQ/FI Mid Cap - ------------------------------------------------------------------------------------------------------------ Unit value -- $ 100.13 $ 85.92 $ 69.42 $ 98.80 - ------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 4 - ------------------------------------------------------------------------------------------------------------ EQ/Franklin Income - ------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------ EQ/Franklin Small Cap Value - ------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------ EQ/Franklin Templeton Founding Strategy - ------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------ EQ/GAMCO Mergers and Acquisitions - ------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------ - ---------------------------------------------------------------------------------------------- For the years ending December 31, ------------------------------------------------- 2004 2005 2006 2007 - ---------------------------------------------------------------------------------------------- EQ/BlackRock Basic Value Equity - ---------------------------------------------------------------------------------------------- Unit value $ 155.12 $ 158.27 $ 189.64 $ 190.15 - ---------------------------------------------------------------------------------------------- Number of units outstanding (000's) 1 4 4 4 - ---------------------------------------------------------------------------------------------- EQ/BlackRock International Value - ---------------------------------------------------------------------------------------------- Unit value $ 117.26 $ 128.80 $ 160.43 $ 175.18 - ---------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 10 14 20 - ---------------------------------------------------------------------------------------------- EQ/Boston Advisors Equity Income - ---------------------------------------------------------------------------------------------- Unit value $ 107.08 $ 112.64 $ 129.46 $ 133.03 - ---------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 1 1 2 - ---------------------------------------------------------------------------------------------- EQ/Calvert Socially Responsible - ---------------------------------------------------------------------------------------------- Unit value $ 83.16 $ 89.61 $ 93.45 $ 103.84 - ---------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 2 3 3 - ---------------------------------------------------------------------------------------------- EQ/Capital Guardian Growth - ---------------------------------------------------------------------------------------------- Unit value $ 70.23 $ 73.16 $ 77.86 $ 81.39 - ---------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 1 1 1 - ---------------------------------------------------------------------------------------------- EQ/Capital Guardian Research - ---------------------------------------------------------------------------------------------- Unit value $ 116.55 $ 122.50 $ 136.03 $ 137.03 - ---------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 14 14 25 - ---------------------------------------------------------------------------------------------- EQ/Caywood-Scholl High Yield Bond - ---------------------------------------------------------------------------------------------- Unit value -- $ 104.28 $ 111.58 $ 113.67 - ---------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- 1 - ---------------------------------------------------------------------------------------------- EQ/Davis New York Venture - ---------------------------------------------------------------------------------------------- Unit value -- -- -- $ 97.21 - ---------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- 1 - ---------------------------------------------------------------------------------------------- EQ/Equity 500 Index - ---------------------------------------------------------------------------------------------- Unit value $ 104.03 $ 107.63 $ 122.77 $ 127.68 - ---------------------------------------------------------------------------------------------- Number of units outstanding (000's) 2 11 12 11 - ---------------------------------------------------------------------------------------------- EQ/Evergreen International Bond - ---------------------------------------------------------------------------------------------- Unit value -- $ 97.60 $ 100.03 $ 108.35 - ---------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- 1 - ---------------------------------------------------------------------------------------------- EQ/Evergreen Omega - ---------------------------------------------------------------------------------------------- Unit value $ 84.03 $ 86.57 $ 90.83 $ 100.21 - ---------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 2 3 2 - ---------------------------------------------------------------------------------------------- EQ/FI Mid Cap - ---------------------------------------------------------------------------------------------- Unit value $ 113.60 $ 119.75 $ 132.35 $ 141.69 - ---------------------------------------------------------------------------------------------- Number of units outstanding (000's) 1 15 19 24 - ---------------------------------------------------------------------------------------------- EQ/Franklin Income - ---------------------------------------------------------------------------------------------- Unit value -- -- $ 104.43 $ 105.62 - ---------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- 7 - ---------------------------------------------------------------------------------------------- EQ/Franklin Small Cap Value - ---------------------------------------------------------------------------------------------- Unit value -- -- $ 103.24 $ 98.12 - ---------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- - ---------------------------------------------------------------------------------------------- EQ/Franklin Templeton Founding Strategy - ---------------------------------------------------------------------------------------------- Unit value -- -- -- $ 95.43 - ---------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- 1 - ---------------------------------------------------------------------------------------------- EQ/GAMCO Mergers and Acquisitions - ---------------------------------------------------------------------------------------------- Unit value -- $ 105.35 $ 117.15 $ 120.07 - ---------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- - ----------------------------------------------------------------------------------------------
A-2 EQUI-VEST(SM) VANTAGE(SM) CONTRACTS (CONTINUED) THE UNIT VALUES AND NUMBERS OF UNITS OUTSTANDING SHOWN BELOW ARE FOR CONTRACTS OFFERED UNDER SEPARATE ACCOUNT A WITH THE SAME DAILY ASSET CHARGE OF 0.90%. UNIT VALUES AND NUMBER OF UNITS OUTSTANDING FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007.
- ---------------------------------------------------------------------------------------------------------------- For the years ending December 31, ------------------------------------------------------------------------ 1999 2000 2001 2002 2003 2004 - ---------------------------------------------------------------------------------------------------------------- EQ/GAMCO Small Company Value - ---------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- $ 113.34 - ---------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------------- EQ/International Core PLUS - ---------------------------------------------------------------------------------------------------------------- Unit value -- -- -- $ 68.67 $ 90.25 $ 101.61 - ---------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 1 -- - ---------------------------------------------------------------------------------------------------------------- EQ/International Growth - ---------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------------- EQ/JPMorgan Core Bond - ---------------------------------------------------------------------------------------------------------------- Unit value -- -- -- $ 107.54 $ 110.17 $ 113.65 - ---------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 1 -- - ---------------------------------------------------------------------------------------------------------------- EQ/JPMorgan Value Opportunities - ---------------------------------------------------------------------------------------------------------------- Unit value $ 98.44 $ 104.17 $ 96.20 $ 77.17 $ 96.98 $ 106.52 - ---------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 1 -- - ---------------------------------------------------------------------------------------------------------------- EQ/Large Cap Core PLUS - ---------------------------------------------------------------------------------------------------------------- Unit value $104.65 $ 102.99 $ 85.75 $ 67.12 $ 81.18 $ 89.62 - ---------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------------- EQ/Large Cap Growth PLUS - ---------------------------------------------------------------------------------------------------------------- Unit value $166.37 $ 133.82 $ 87.46 $ 56.92 $ 72.94 $ 81.41 - ---------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- 4 4 -- - ---------------------------------------------------------------------------------------------------------------- EQ/Legg Mason Value Equity - ---------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------------- EQ/Long Term Bond - ---------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------------- EQ/Lord Abbett Growth and Income - ---------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------------- EQ/Lord Abbett Large Cap Core - ---------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------------- EQ/Lord Abbett Mid Cap Value - ---------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------------- EQ/Marsico Focus - ---------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 105.94 $ 92.92 $ 120.75 $ 132.24 - ---------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 3 1 - ---------------------------------------------------------------------------------------------------------------- EQ/Mid Cap Value PLUS - ---------------------------------------------------------------------------------------------------------------- Unit value $103.94 $ 108.31 $ 111.62 $ 94.35 $ 124.60 $ 145.52 - ---------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 3 1 - ---------------------------------------------------------------------------------------------------------------- EQ/Money Market - ---------------------------------------------------------------------------------------------------------------- Unit value $105.79 $ 111.13 $ 114.06 $ 114.42 $ 114.04 $ 113.89 - ---------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- 2 - ---------------------------------------------------------------------------------------------------------------- EQ/Montag & Caldwell Growth - ---------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- $ 104.76 - ---------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------- For the years ending December 31, ------------------------------------ 2005 2006 2007 - ----------------------------------------------------------------------------------- EQ/GAMCO Small Company Value - ----------------------------------------------------------------------------------- Unit value $ 117.17 $ 137.99 $ 149.46 - ----------------------------------------------------------------------------------- Number of units outstanding (000's) 1 2 5 - ----------------------------------------------------------------------------------- EQ/International Core PLUS - ----------------------------------------------------------------------------------- Unit value $ 117.94 $ 139.38 $ 159.14 - ----------------------------------------------------------------------------------- Number of units outstanding (000's) 4 5 5 - ----------------------------------------------------------------------------------- EQ/International Growth - ----------------------------------------------------------------------------------- Unit value $ 115.34 $ 143.61 $ 165.37 - ----------------------------------------------------------------------------------- Number of units outstanding (000's) -- 1 2 - ----------------------------------------------------------------------------------- EQ/JPMorgan Core Bond - ----------------------------------------------------------------------------------- Unit value $ 115.13 $ 118.73 $ 121.31 - ----------------------------------------------------------------------------------- Number of units outstanding (000's) 3 4 6 - ----------------------------------------------------------------------------------- EQ/JPMorgan Value Opportunities - ----------------------------------------------------------------------------------- Unit value $ 109.75 $ 130.93 $ 128.17 - ----------------------------------------------------------------------------------- Number of units outstanding (000's) 1 1 -- - ----------------------------------------------------------------------------------- EQ/Large Cap Core PLUS - ----------------------------------------------------------------------------------- Unit value $ 95.21 $ 106.56 $ 109.70 - ----------------------------------------------------------------------------------- Number of units outstanding (000's) 1 1 1 - ----------------------------------------------------------------------------------- EQ/Large Cap Growth PLUS - ----------------------------------------------------------------------------------- Unit value $ 87.96 $ 93.95 $ 107.65 - ----------------------------------------------------------------------------------- Number of units outstanding (000's) 5 5 3 - ----------------------------------------------------------------------------------- EQ/Legg Mason Value Equity - ----------------------------------------------------------------------------------- Unit value $ 106.52 $ 112.77 $ 105.13 - ----------------------------------------------------------------------------------- Number of units outstanding (000's) -- 1 1 - ----------------------------------------------------------------------------------- EQ/Long Term Bond - ----------------------------------------------------------------------------------- Unit value $ 100.29 $ 101.20 $ 107.70 - ----------------------------------------------------------------------------------- Number of units outstanding (000's) -- 1 1 - ----------------------------------------------------------------------------------- EQ/Lord Abbett Growth and Income - ----------------------------------------------------------------------------------- Unit value $ 106.30 $ 123.48 $ 126.61 - ----------------------------------------------------------------------------------- Number of units outstanding (000's) -- 1 1 - ----------------------------------------------------------------------------------- EQ/Lord Abbett Large Cap Core - ----------------------------------------------------------------------------------- Unit value $ 105.93 $ 118.30 $ 129.75 - ----------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ----------------------------------------------------------------------------------- EQ/Lord Abbett Mid Cap Value - ----------------------------------------------------------------------------------- Unit value $ 111.82 $ 124.58 $ 124.17 - ----------------------------------------------------------------------------------- Number of units outstanding (000's) -- 1 2 - ----------------------------------------------------------------------------------- EQ/Marsico Focus - ----------------------------------------------------------------------------------- Unit value $ 145.08 $ 157.18 $ 177.63 - ----------------------------------------------------------------------------------- Number of units outstanding (000's) 11 16 21 - ----------------------------------------------------------------------------------- EQ/Mid Cap Value PLUS - ----------------------------------------------------------------------------------- Unit value $ 160.54 $ 178.95 $ 174.50 - ----------------------------------------------------------------------------------- Number of units outstanding (000's) 5 4 4 - ----------------------------------------------------------------------------------- EQ/Money Market - ----------------------------------------------------------------------------------- Unit value $ 115.83 $ 119.94 $ 124.45 - ----------------------------------------------------------------------------------- Number of units outstanding (000's) 1 1 1 - ----------------------------------------------------------------------------------- EQ/Montag & Caldwell Growth - ----------------------------------------------------------------------------------- Unit value $ 109.43 $ 117.07 $ 140.16 - ----------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 1 - -----------------------------------------------------------------------------------
A-3 EQUI-VEST(SM) VANTAGE(SM) CONTRACTS (CONTINUED) THE UNIT VALUES AND NUMBERS OF UNITS OUTSTANDING SHOWN BELOW ARE FOR CONTRACTS OFFERED UNDER SEPARATE ACCOUNT A WITH THE SAME DAILY ASSET CHARGE OF 0.90%. UNIT VALUES AND NUMBER OF UNITS OUTSTANDING FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007.
- ---------------------------------------------------------------------------------------------------------- For the years ending December 31, ------------------------------------------------------------ 1999 2000 2001 2002 2003 - ---------------------------------------------------------------------------------------------------------- EQ/Mutual Shares - ---------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------- EQ/Oppenheimer Global - ---------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------- EQ/Oppenheimer Main Street Opportunity - ---------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------- EQ/Oppenheimer Main Street Small Cap - ---------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------- EQ/PIMCO Real Return - ---------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------- EQ/Short Duration Bond - ---------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------- EQ/Small Company Index - ---------------------------------------------------------------------------------------------------------- Unit value -- -- -- $ 81.92 $ 118.42 - ---------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 1 - ---------------------------------------------------------------------------------------------------------- EQ/T. Rowe Price Growth Stock - ---------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------- EQ/Templeton Growth - ---------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------- EQ/UBS Growth and Income - ---------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------- EQ/Van Kampen Comstock - ---------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------- EQ/Van Kampen Emerging Markets Equity - ---------------------------------------------------------------------------------------------------------- Unit value $ 198.84 $ 118.14 $ 111.05 $ 103.54 $ 160.00 - ---------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 1 - ---------------------------------------------------------------------------------------------------------- EQ/Van Kampen Mid Cap Growth - ---------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------- EQ/Van Kampen Real Estate - ---------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------- Multimanager Aggressive Equity - ---------------------------------------------------------------------------------------------------------- Unit value $ 106.50 $ 91.46 $ 67.82 $ 47.80 $ 65.15 - ---------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------- Multimanager Core Bond - ---------------------------------------------------------------------------------------------------------- Unit value -- -- -- $ 107.20 $ 110.22 - ---------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 1 - ---------------------------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------------- For the years ending December 31, ------------------------------------------------- 2004 2005 2006 2007 - -------------------------------------------------------------------------------------------- EQ/Mutual Shares - -------------------------------------------------------------------------------------------- Unit value -- -- $ 107.25 $ 108.03 - -------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 1 1 - -------------------------------------------------------------------------------------------- EQ/Oppenheimer Global - -------------------------------------------------------------------------------------------- Unit value -- -- $ 111.10 $ 116.38 - -------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- 1 - -------------------------------------------------------------------------------------------- EQ/Oppenheimer Main Street Opportunity - -------------------------------------------------------------------------------------------- Unit value -- -- -- $ 95.45 - -------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- - -------------------------------------------------------------------------------------------- EQ/Oppenheimer Main Street Small Cap - -------------------------------------------------------------------------------------------- Unit value -- -- $ 111.14 $ 108.19 - -------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- 1 - -------------------------------------------------------------------------------------------- EQ/PIMCO Real Return - -------------------------------------------------------------------------------------------- Unit value -- $ 99.64 $ 99.13 $ 109.51 - -------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 4 7 - -------------------------------------------------------------------------------------------- EQ/Short Duration Bond - -------------------------------------------------------------------------------------------- Unit value -- $ 100.09 $ 103.12 $ 107.62 - -------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- - -------------------------------------------------------------------------------------------- EQ/Small Company Index - -------------------------------------------------------------------------------------------- Unit value $ 138.09 $ 142.68 $ 166.44 $ 161.92 - -------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 5 6 7 - -------------------------------------------------------------------------------------------- EQ/T. Rowe Price Growth Stock - -------------------------------------------------------------------------------------------- Unit value $ 111.33 $ 114.73 $ 109.14 $ 115.97 - -------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- 4 - -------------------------------------------------------------------------------------------- EQ/Templeton Growth - -------------------------------------------------------------------------------------------- Unit value -- -- 107.73 $ 108.98 - -------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- 1 - -------------------------------------------------------------------------------------------- EQ/UBS Growth and Income - -------------------------------------------------------------------------------------------- Unit value $ 109.34 $ 118.12 $ 133.62 $ 133.96 - -------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- - -------------------------------------------------------------------------------------------- EQ/Van Kampen Comstock - -------------------------------------------------------------------------------------------- Unit value -- $ 104.60 $ 120.15 $ 116.08 - -------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 1 1 - -------------------------------------------------------------------------------------------- EQ/Van Kampen Emerging Markets Equity - -------------------------------------------------------------------------------------------- Unit value $ 196.10 $ 258.05 $ 350.50 $ 493.27 - -------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 2 1 2 - -------------------------------------------------------------------------------------------- EQ/Van Kampen Mid Cap Growth - -------------------------------------------------------------------------------------------- Unit value -- $ 124.11 $ 134.38 $ 163.01 - -------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 1 3 - -------------------------------------------------------------------------------------------- EQ/Van Kampen Real Estate - -------------------------------------------------------------------------------------------- Unit value -- -- -- $ 83.06 - -------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- 9 - -------------------------------------------------------------------------------------------- Multimanager Aggressive Equity - -------------------------------------------------------------------------------------------- Unit value $ 72.37 $ 77.61 $ 80.84 $ 89.23 - -------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 1 1 1 - -------------------------------------------------------------------------------------------- Multimanager Core Bond - -------------------------------------------------------------------------------------------- Unit value $ 113.47 $ 114.42 $ 117.67 $ 123.90 - -------------------------------------------------------------------------------------------- Number of units outstanding (000's) 1 2 2 3 - --------------------------------------------------------------------------------------------
A-4 EQUI-VEST(SM) VANTAGE(SM) CONTRACTS (CONTINUED) THE UNIT VALUES AND NUMBERS OF UNITS OUTSTANDING SHOWN BELOW ARE FOR CONTRACTS OFFERED UNDER SEPARATE ACCOUNT A WITH THE SAME DAILY ASSET CHARGE OF 0.90%. UNIT VALUES AND NUMBER OF UNITS OUTSTANDING FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007.
- ------------------------------------------------------------------------------------------------------------------ For the years ending December 31, ------------------------------------------------------------------------ 1999 2000 2001 2002 2003 2004 - ------------------------------------------------------------------------------------------------------------------ Multimanager Health Care - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 79.33 $ 100.74 $ 111.95 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Multimanager High Yield - ------------------------------------------------------------------------------------------------------------------ Unit value $ 85.66 $ 77.34 $ 77.17 $ 74.22 $ 90.15 $ 97.08 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 2 1 - ------------------------------------------------------------------------------------------------------------------ Multimanager International Equity - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 78.42 $ 104.39 $ 121.98 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 1 1 - ------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Core Equity - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 76.77 $ 97.48 $ 105.95 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Growth - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 68.17 $ 88.25 $ 93.28 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Value - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 79.44 $ 103.20 $ 117.02 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Multimanager Mid Cap Growth - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 62.27 $ 86.54 $ 95.83 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 1 -- - ------------------------------------------------------------------------------------------------------------------ Multimanager Mid Cap Value - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 74.03 $ 103.15 $ 117.75 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 1 -- - ------------------------------------------------------------------------------------------------------------------ Multimanager Small Cap Growth - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- $ 114.70 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Multimanager Small Cap Value - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 114.07 $ 155.30 $ 180.23 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 2 1 - ------------------------------------------------------------------------------------------------------------------ Multimanager Technology - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 56.89 $ 88.87 $ 92.46 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 1 -- - ------------------------------------------------------------------------------------------------------------------ Target 2015 Allocation - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Target 2025 Allocation - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Target 2035 Allocation - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Target 2045 Allocation - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ - -------------------------------------------------------------------------------- For the years ending December 31, ------------------------------------- 2005 2006 2007 - -------------------------------------------------------------------------------- Multimanager Health Care - -------------------------------------------------------------------------------- Unit value $ 118.66 $ 123.63 $ 133.49 - -------------------------------------------------------------------------------- Number of units outstanding (000's) 2 3 3 - -------------------------------------------------------------------------------- Multimanager High Yield - -------------------------------------------------------------------------------- Unit value $ 99.16 $ 108.02 $ 110.41 - -------------------------------------------------------------------------------- Number of units outstanding (000's) 5 5 5 - -------------------------------------------------------------------------------- Multimanager International Equity - -------------------------------------------------------------------------------- Unit value $ 139.55 $ 173.31 $ 193.09 - -------------------------------------------------------------------------------- Number of units outstanding (000's) 2 4 5 - -------------------------------------------------------------------------------- Multimanager Large Cap Core Equity - -------------------------------------------------------------------------------- Unit value $ 112.07 $ 126.14 $ 131.25 - -------------------------------------------------------------------------------- Number of units outstanding (000's) 1 -- 1 - -------------------------------------------------------------------------------- Multimanager Large Cap Growth - -------------------------------------------------------------------------------- Unit value $ 99.37 $ 98.58 $ 108.68 - -------------------------------------------------------------------------------- Number of units outstanding (000's) 2 4 4 - -------------------------------------------------------------------------------- Multimanager Large Cap Value - -------------------------------------------------------------------------------- Unit value $ 124.20 $ 146.87 $ 150.84 - -------------------------------------------------------------------------------- Number of units outstanding (000's) 2 2 3 - -------------------------------------------------------------------------------- Multimanager Mid Cap Growth - -------------------------------------------------------------------------------- Unit value $ 102.93 $ 111.81 $ 123.99 - -------------------------------------------------------------------------------- Number of units outstanding (000's) 3 3 4 - -------------------------------------------------------------------------------- Multimanager Mid Cap Value - -------------------------------------------------------------------------------- Unit value $ 125.26 $ 142.42 $ 141.27 - -------------------------------------------------------------------------------- Number of units outstanding (000's) 2 2 3 - -------------------------------------------------------------------------------- Multimanager Small Cap Growth - -------------------------------------------------------------------------------- Unit value $ 122.18 $ 133.44 $ 137.10 - -------------------------------------------------------------------------------- Number of units outstanding (000's) 1 1 3 - -------------------------------------------------------------------------------- Multimanager Small Cap Value - -------------------------------------------------------------------------------- Unit value $ 186.98 $ 215.15 $ 192.22 - -------------------------------------------------------------------------------- Number of units outstanding (000's) 9 10 13 - -------------------------------------------------------------------------------- Multimanager Technology - -------------------------------------------------------------------------------- Unit value $ 101.96 $ 108.42 $ 127.01 - -------------------------------------------------------------------------------- Number of units outstanding (000's) 6 6 6 - -------------------------------------------------------------------------------- Target 2015 Allocation - -------------------------------------------------------------------------------- Unit value -- $ 108.47 $ 115.27 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 1 - -------------------------------------------------------------------------------- Target 2025 Allocation - -------------------------------------------------------------------------------- Unit value -- $ 109.42 $ 116.42 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - -------------------------------------------------------------------------------- Target 2035 Allocation - -------------------------------------------------------------------------------- Unit value -- $ 110.31 $ 117.39 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 1 - -------------------------------------------------------------------------------- Target 2045 Allocation - -------------------------------------------------------------------------------- Unit value -- $ 111.10 $ 118.69 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - --------------------------------------------------------------------------------
A-5 EQUI-VEST(SM) VANTAGE(SM) CONTRACTS (CONTINUED) THE UNIT VALUES AND NUMBERS OF UNITS OUTSTANDING SHOWN BELOW ARE FOR CONTRACTS OFFERED UNDER SEPARATE ACCOUNT A WITH THE SAME DAILY ASSET CHARGE OF 0.70%. UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007.
- ---------------------------------------------------------------------------------------------------------------------------------- For the years ending December 31, ------------------------------------------------------------------------- 2002 2003 2004 2005 2006 2007 - ---------------------------------------------------------------------------------------------------------------------------------- AXA Aggressive Allocation - ---------------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 109.32 $ 121.36 $ 130.23 $ 152.46 $ 160.73 - ---------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------------------------------- AXA Conservative Allocation - ---------------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 102.32 $ 107.72 $ 109.58 $ 115.75 $ 121.61 - ---------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------------------------------- AXA Conservative-Plus Allocation - ---------------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 104.31 $ 111.61 $ 114.43 $ 123.58 $ 129.44 - ---------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------------------------------- AXA Moderate Allocation - ---------------------------------------------------------------------------------------------------------------------------------- Unit value $ 89.58 $ 105.98 $ 114.42 $ 119.07 $ 130.44 $ 137.65 - ---------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- 2 4 9 - ---------------------------------------------------------------------------------------------------------------------------------- AXA Moderate-Plus Allocation - ---------------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 108.13 $ 119.93 $ 127.03 $ 144.44 $ 152.59 - ---------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- 1 1 1 - ---------------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock - ---------------------------------------------------------------------------------------------------------------------------------- Unit value $ 55.52 $ 82.44 $ 93.43 $ 96.76 $ 106.36 $ 109.29 - ---------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Intermediate Government Securities - ---------------------------------------------------------------------------------------------------------------------------------- Unit value $125.51 $ 127.30 $ 128.86 $ 129.55 $ 132.66 $ 140.76 - ---------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein International - ---------------------------------------------------------------------------------------------------------------------------------- Unit value $ 65.79 $ 88.31 $ 103.63 $ 118.64 $ 145.53 $ 161.45 - ---------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Large Cap Growth - ---------------------------------------------------------------------------------------------------------------------------------- Unit value $ 48.79 $ 59.68 $ 64.24 $ 73.31 $ 72.40 $ 81.95 - ---------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Quality Bond - ---------------------------------------------------------------------------------------------------------------------------------- Unit value $125.91 $ 129.46 $ 133.37 $ 147.47 $ 152.43 $ 158.62 - ---------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Small Cap Growth - ---------------------------------------------------------------------------------------------------------------------------------- Unit value $ 88.17 $ 123.38 $ 139.65 $ 154.63 $ 167.38 $ 193.94 - ---------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Value - ---------------------------------------------------------------------------------------------------------------------------------- Unit value $ 82.19 $ 105.07 $ 118.36 $ 123.92 $ 149.38 $ 141.58 - ---------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 1 1 5 9 13 - ---------------------------------------------------------------------------------------------------------------------------------- EQ/AXA Rosenberg Value Long/Short Equity - ---------------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 99.56 $ 102.19 $ 108.82 $ 109.35 $ 111.87 - ---------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- 1 -- -- - ---------------------------------------------------------------------------------------------------------------------------------- EQ/BlackRock Basic Value Equity - ---------------------------------------------------------------------------------------------------------------------------------- Unit value $112.46 $ 145.51 $ 160.86 $ 164.45 $ 197.45 $ 198.37 - ---------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------------------------------- EQ/BlackRock International Value - ---------------------------------------------------------------------------------------------------------------------------------- Unit value $ 77.18 $ 98.13 $ 118.54 $ 130.47 $ 162.83 $ 178.16 - ---------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- 2 6 10 - ---------------------------------------------------------------------------------------------------------------------------------- EQ/Boston Advisors Equity Income - ---------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 107.13 $ 112.92 $ 130.03 $ 133.89 - ---------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - ----------------------------------------------------------------------------------------------------------------------------------
A-6 EQUI-VEST(SM) VANTAGE(SM) CONTRACTS (CONTINUED) THE UNIT VALUES AND NUMBERS OF UNITS OUTSTANDING SHOWN BELOW ARE FOR CONTRACTS OFFERED UNDER SEPARATE ACCOUNT A WITH THE SAME DAILY ASSET CHARGE OF 0.70%. UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007.
- ------------------------------------------------------------------------------------------------------------------- For the years ending December 31, ----------------------------------------------------------------------- 2002 2003 2004 2005 2006 2007 - ------------------------------------------------------------------------------------------------------------------- EQ/Calvert Socially Responsible - ------------------------------------------------------------------------------------------------------------------- Unit value $ 64.32 $ 81.73 $ 84.06 $ 90.77 $ 94.85 $ 105.61 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- 1 1 - ------------------------------------------------------------------------------------------------------------------- EQ/Capital Guardian Growth - ------------------------------------------------------------------------------------------------------------------- Unit value $ 55.04 $ 67.75 $ 71.00 $ 74.10 $ 79.03 $ 82.77 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/Capital Guardian Research - ------------------------------------------------------------------------------------------------------------------- Unit value $ 81.93 $ 106.98 $ 117.81 $ 124.08 $ 138.06 $ 139.36 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 1 -- 1 1 1 - ------------------------------------------------------------------------------------------------------------------- EQ/Caywood-Scholl High Yield Bond - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- $ 104.42 $ 111.95 $ 114.28 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/Davis New York Venture - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- 97.33 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/Equity 500 Index - ------------------------------------------------------------------------------------------------------------------- Unit value $ 63.97 $ 81.20 $ 88.88 $ 92.14 $ 105.31 $ 109.75 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 1 4 7 12 - ------------------------------------------------------------------------------------------------------------------- EQ/Evergreen International Bond - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- $ 97.65 $ 100.28 $ 108.84 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/Evergreen Omega - ------------------------------------------------------------------------------------------------------------------- Unit value $ 58.23 $ 79.92 $ 84.94 $ 87.69 $ 92.19 $ 101.91 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/FI Mid Cap - ------------------------------------------------------------------------------------------------------------------- Unit value $ 69.75 $ 99.46 $ 114.60 $ 121.04 $ 134.05 $ 143.79 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 1 2 5 8 - ------------------------------------------------------------------------------------------------------------------- EQ/Franklin Income - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 104.50 $ 105.90 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- 5 - ------------------------------------------------------------------------------------------------------------------- EQ/Franklin Small Cap Value - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 108.44 98.38 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/Franklin Templeton Founding Strategy - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- 95.55 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/GAMCO Mergers and Acquisitions - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- $ 105.50 $ 117.55 $ 120.71 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/GAMCO Small Company Value - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 113.39 $ 117.46 $ 138.61 $ 150.43 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- 2 - ------------------------------------------------------------------------------------------------------------------- EQ/International Core PLUS - ------------------------------------------------------------------------------------------------------------------- Unit value $ 69.13 $ 91.05 $ 102.71 $ 119.46 $ 141.46 $ 161.85 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- 1 -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/International Growth - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- $ 115.49 $ 144.09 $ 166.26 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------
A-7 EQUI-VEST(SM) VANTAGE(SM) CONTRACTS (CONTINUED) THE UNIT VALUES AND NUMBERS OF UNITS OUTSTANDING SHOWN BELOW ARE FOR CONTRACTS OFFERED UNDER SEPARATE ACCOUNT A WITH THE SAME DAILY ASSET CHARGE OF 0.70%. UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007.
- ------------------------------------------------------------------------------------------------------------------ For the years ending December 31, ------------------------------------------------------------------------ 2002 2003 2004 2005 2006 2007 - ------------------------------------------------------------------------------------------------------------------ EQ/JPMorgan Core Bond - ------------------------------------------------------------------------------------------------------------------ Unit value $ 107.78 $ 110.63 $ 114.36 $ 116.07 $ 119.94 $ 122.80 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- 1 2 3 - ------------------------------------------------------------------------------------------------------------------ EQ/JPMorgan Value Opportunities - ------------------------------------------------------------------------------------------------------------------ Unit value $ 78.73 $ 99.14 $ 109.16 $ 112.65 $ 134.65 $ 132.08 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ EQ/Large Cap Core PLUS - ------------------------------------------------------------------------------------------------------------------ Unit value $ 67.58 $ 81.90 $ 90.60 $ 96.43 $ 108.15 $ 111.57 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ EQ/Large Cap Growth PLUS - ------------------------------------------------------------------------------------------------------------------ Unit value $ 64.15 $ 82.37 $ 92.12 $ 99.73 $ 106.74 $ 122.55 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 4 -- 4 4 3 - ------------------------------------------------------------------------------------------------------------------ EQ/Legg Mason Value Equity - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 106.57 $ 113.05 $ 105.61 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ EQ/Long Term Bond - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 100.42 $ 101.54 $ 108.28 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Growth and Income - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 106.44 $ 123.89 $ 127.29 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Large Cap Core - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 106.07 $ 118.70 $ 130.45 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Mid Cap Value - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 111.96 $ 125.00 $ 124.84 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ EQ/Marsico Focus - ------------------------------------------------------------------------------------------------------------------ Unit value $ 93.15 $ 121.29 $ 133.10 $ 146.32 $ 158.85 $ 179.88 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- 3 - ------------------------------------------------------------------------------------------------------------------ EQ/Mid Cap Value PLUS - ------------------------------------------------------------------------------------------------------------------ Unit value $ 76.93 $ 101.80 $ 119.13 $ 131.69 $ 147.09 $ 143.72 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- 1 1 1 - ------------------------------------------------------------------------------------------------------------------ EQ/Money Market - ------------------------------------------------------------------------------------------------------------------ Unit value $ 110.53 $ 110.38 $ 110.46 $ 112.56 $ 116.79 $ 121.44 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ EQ/Montag & Caldwell Growth - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 104.81 $ 109.70 $ 117.59 $ 141.07 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ EQ/Mutual Shares - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 107.32 $ 108.32 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- 2 - ------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Global - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 111.10 $ 116.68 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Opportunity - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- $ 95.57 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------
A-8 EQUI-VEST(SM) VANTAGE(SM) CONTRACTS (CONTINUED) THE UNIT VALUES AND NUMBERS OF UNITS OUTSTANDING SHOWN BELOW ARE FOR CONTRACTS OFFERED UNDER SEPARATE ACCOUNT A WITH THE SAME DAILY ASSET CHARGE OF 0.70%. UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007.
- ------------------------------------------------------------------------------------------------------------------ For the years ending December 31, ------------------------------------------------------------------------- 2002 2003 2004 2005 2006 2007 - ------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Small Cap - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 111.21 $ 108.48 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ EQ/PIMCO Real Return - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 99.78 $ 105.91 $ 110.10 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ EQ/Short Duration Bond - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 100.23 $ 103.47 $ 108.20 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- 1 - ------------------------------------------------------------------------------------------------------------------ EQ/Small Company Index - ------------------------------------------------------------------------------------------------------------------ Unit value $ 82.10 $ 118.92 $ 138.95 $ 143.86 $ 168.15 $ 163.91 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- 2 4 7 - ------------------------------------------------------------------------------------------------------------------ EQ/T. Rowe Price Growth Stock - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 111.38 $ 115.01 $ 109.62 $ 116.72 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- 5 - ------------------------------------------------------------------------------------------------------------------ EQ/Templeton Growth - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 107.79 $ 109.27 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- 1 - ------------------------------------------------------------------------------------------------------------------ EQ/UBS Growth and Income - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 109.39 $ 118.41 $ 134.22 $ 134.84 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Comstock - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 104.74 $ 120.55 $ 116.70 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Emerging Markets Equity - ------------------------------------------------------------------------------------------------------------------ Unit value $ 88.09 $ 136.39 $ 167.50 $ 220.86 $ 300.59 $ 423.88 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 3 -- -- -- 6 - ------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Mid Cap Growth - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 124.27 $ 134.83 $ 163.89 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Real Estate - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- $ 83.14 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- 2 - ------------------------------------------------------------------------------------------------------------------ Multimanager Aggressive Equity - ------------------------------------------------------------------------------------------------------------------ Unit value $ 50.77 $ 69.33 $ 77.17 $ 83.12 $ 86.97 $ 96.44 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- 13 15 8 - ------------------------------------------------------------------------------------------------------------------ Multimanager Core Bond - ------------------------------------------------------------------------------------------------------------------ Unit value $107.42 $ 110.66 $ 114.16 $ 115.34 $ 118.85 $ 125.41 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Multimanager Health Care - ------------------------------------------------------------------------------------------------------------------ Unit value $ 79.50 $ 101.15 $ 112.62 $ 119.62 $ 124.88 $ 135.12 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Multimanager High Yield - ------------------------------------------------------------------------------------------------------------------ Unit value $ 86.67 $ 105.47 $ 113.82 $ 116.48 $ 127.15 $ 130.22 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Multimanager International Equity - ------------------------------------------------------------------------------------------------------------------ Unit value $ 78.58 $ 104.82 $ 122.72 $ 140.68 $ 175.06 $ 195.44 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- 1 1 - ------------------------------------------------------------------------------------------------------------------
A-9 EQUI-VEST(SM) VANTAGE(SM) CONTRACTS (CONTINUED) THE UNIT VALUES AND NUMBERS OF UNITS OUTSTANDING SHOWN BELOW ARE FOR CONTRACTS OFFERED UNDER SEPARATE ACCOUNT A WITH THE SAME DAILY ASSET CHARGE OF 0.70%. UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007.
- ------------------------------------------------------------------------------------------------------------------ For the years ending December 31, ------------------------------------------------------------------------- 2002 2003 2004 2005 2006 2007 - ------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Core Equity - ------------------------------------------------------------------------------------------------------------------ Unit value $ 76.92 $ 97.88 $ 106.59 $ 112.97 $ 127.42 $ 132.85 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- 1 -- -- - ------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Growth - ------------------------------------------------------------------------------------------------------------------ Unit value $ 68.31 $ 88.60 $ 93.85 $ 100.17 $ 99.58 $ 110.00 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Value - ------------------------------------------------------------------------------------------------------------------ Unit value $ 79.60 $ 103.61 $ 117.73 $ 125.20 $ 148.35 $ 152.67 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Multimanager Mid Cap Growth - ------------------------------------------------------------------------------------------------------------------ Unit value $ 62.40 $ 86.89 $ 96.41 $ 103.76 $ 112.94 $ 125.50 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Multimanager Mid Cap Value - ------------------------------------------------------------------------------------------------------------------ Unit value $ 74.18 $ 103.57 $ 118.46 $ 126.28 $ 143.86 $ 142.98 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Multimanager Small Cap Growth - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 114.75 $ 122.48 $ 134.04 $ 138.00 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Multimanager Small Cap Value - ------------------------------------------------------------------------------------------------------------------ Unit value $114.85 $ 156.67 $ 182.19 $ 189.39 $ 218.37 $ 195.49 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Multimanager Technology - ------------------------------------------------------------------------------------------------------------------ Unit value $ 57.00 $ 89.23 $ 93.02 $ 102.78 $ 109.51 $ 128.56 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- 8 10 8 - ------------------------------------------------------------------------------------------------------------------ Target 2015 Allocation - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 108.53 $ 115.58 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Target 2025 Allocation - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 109.49 $ 116.73 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Target 2035 Allocation - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 110.38 $ 117.70 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Target 2045 Allocation - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 111.17 $ 119.00 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------
A-10 EQUI-VEST(SM) VANTAGE(SM) CONTRACTS (CONTINUED) THE UNIT VALUES AND NUMBERS OF UNITS OUTSTANDING SHOWN BELOW ARE FOR CONTRACTS OFFERED UNDER SEPARATE ACCOUNT A WITH THE SAME DAILY ASSET CHARGE OF 0.50%. UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007.
- ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, -------------------------------------------------------------------------- 2002 2003 2004 2005 2006 2007 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Aggressive Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 109.38 $ 121.67 $ 130.82 $ 153.46 $ 162.11 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ AXA Conservative Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 102.37 $ 108.00 $ 110.08 $ 116.51 $ 122.65 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ AXA Conservative-Plus Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 104.36 $ 111.89 $ 114.94 $ 124.39 $ 130.56 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ AXA Moderate Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 82.10 $ 97.33 $ 105.29 $ 109.79 $ 120.52 $ 127.43 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ AXA Moderate-Plus Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 108.19 $ 120.23 $ 127.61 $ 145.39 $ 153.90 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Common Stock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 52.86 $ 78.66 $ 89.31 $ 92.69 $ 102.09 $ 105.11 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Intermediate Government Securities - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $120.24 $ 122.19 $ 123.94 $ 124.85 $ 128.11 $ 136.21 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein International - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 62.95 $ 84.67 $ 99.56 $ 114.22 $ 140.38 $ 156.05 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Large Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 44.22 $ 54.21 $ 58.46 $ 66.85 $ 66.16 $ 75.03 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Quality Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $120.40 $ 124.04 $ 128.05 $ 129.96 $ 134.25 $ 139.64 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Small Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 52.55 $ 73.69 $ 83.58 $ 92.73 $ 100.58 $ 116.77 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 89.18 $ 114.24 $ 128.95 $ 135.28 $ 163.40 $ 155.18 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AXA Rosenberg Value Long/Short Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 99.67 $ 102.77 $ 109.94 $ 110.97 $ 114.05 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/BlackRock Basic Value Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 88.81 $ 115.93 $ 127.54 $ 130.65 $ 157.18 $ 158.23 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/BlackRock International Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 62.51 $ 79.64 $ 96.39 $ 106.30 $ 132.94 $ 145.75 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Boston Advisors Equity Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 107.17 $ 113.20 $ 130.62 $ 134.77 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------
A-11 EQUI-VEST(SM) VANTAGE(SM) CONTRACTS (CONTINUED) THE UNIT VALUES AND NUMBERS OF UNITS OUTSTANDING SHOWN BELOW ARE FOR CONTRACTS OFFERED UNDER SEPARATE ACCOUNT A WITH THE SAME DAILY ASSET CHARGE OF 0.50%. UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007.
- ------------------------------------------------------------------------------------------------------------------- For the years ending December 31, ----------------------------------------------------------------------- 2002 2003 2004 2005 2006 2007 - ------------------------------------------------------------------------------------------------------------------- EQ/Calvert Socially Responsible - ------------------------------------------------------------------------------------------------------------------- Unit value $ 57.22 $ 72.85 $ 75.08 $ 81.24 $ 85.06 $ 94.90 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/Capital Guardian Growth - ------------------------------------------------------------------------------------------------------------------- Unit value $ 47.88 $ 59.05 $ 62.01 $ 64.85 $ 69.30 $ 72.73 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/Capital Guardian Research - ------------------------------------------------------------------------------------------------------------------- Unit value $ 73.83 $ 96.60 $ 106.60 $ 112.49 $ 125.42 $ 126.86 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/Caywood-Scholl High Yield Bond - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- $ 104.56 $ 112.32 $ 114.90 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/Davis New York Venture - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- $ 97.46 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/Equity 500 Index - ------------------------------------------------------------------------------------------------------------------- Unit value $ 62.27 $ 79.19 $ 86.86 $ 90.23 $ 103.33 $ 107.91 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/Evergreen International Bond - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- $ 97.69 $ 100.53 $ 109.34 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/Evergreen Omega - ------------------------------------------------------------------------------------------------------------------- Unit value $ 56.66 $ 77.91 $ 82.98 $ 85.83 $ 90.42 $ 100.16 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/FI Mid Cap - ------------------------------------------------------------------------------------------------------------------- Unit value $ 71.73 $ 102.49 $ 118.33 $ 125.23 $ 138.97 $ 149.37 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/Franklin Income - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 104.56 $ 106.18 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/Franklin Small Cap Value - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 108.50 $ 98.64 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/Franklin Templeton Founding Strategy - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- $ 95.67 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/GAMCO Mergers and Acquisitions - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- $ 105.64 $ 117.94 $ 121.36 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/GAMCO Small Company Value - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 113.44 $ 117.75 $ 139.30 $ 151.41 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/International Core PLUS - ------------------------------------------------------------------------------------------------------------------- Unit value $ 61.65 $ 81.36 $ 91.97 $ 107.18 $ 127.17 $ 145.80 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/International Growth - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- $ 115.64 $ 144.57 $ 167.16 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------
A-12 EQUI-VEST(SM) VANTAGE(SM) CONTRACTS (CONTINUED) THE UNIT VALUES AND NUMBERS OF UNITS OUTSTANDING SHOWN BELOW ARE FOR CONTRACTS OFFERED UNDER SEPARATE ACCOUNT A WITH THE SAME DAILY ASSET CHARGE OF 0.50%. UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007.
- --------------------------------------------------------------------------------------------------------------------- For the years ending December 31, --------------------------------------------------------------------------- 2002 2003 2004 2005 2006 2007 - --------------------------------------------------------------------------------------------------------------------- EQ/JPMorgan Core Bond - --------------------------------------------------------------------------------------------------------------------- Unit value $ 108.01 $ 111.09 $ 115.07 $ 117.03 $ 121.18 $ 124.31 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------------- EQ/JPMorgan Value Opportunities - --------------------------------------------------------------------------------------------------------------------- Unit value $ 78.07 $ 98.51 $ 108.69 $ 112.39 $ 134.61 $ 132.31 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------------- EQ/Large Cap Core PLUS - --------------------------------------------------------------------------------------------------------------------- Unit value $ 64.03 $ 77.76 $ 86.19 $ 91.93 $ 103.30 $ 106.78 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------------- EQ/Large Cap Growth PLUS - --------------------------------------------------------------------------------------------------------------------- Unit value $ 35.99 $ 46.31 $ 51.89 $ 56.29 $ 60.37 $ 69.45 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------------- EQ/Legg Mason Value Equity - --------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- $ 106.62 $ 113.34 $ 106.08 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------------- EQ/Long Term Bond - --------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- $ 100.56 $ 101.88 $ 108.86 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------------- EQ/Lord Abbett Growth and Income - --------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- $ 105.59 $ 124.31 $ 127.98 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------------- EQ/Lord Abbett Large Cap Core - --------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- $ 106.21 $ 119.10 $ 131.15 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------------- EQ/Lord Abbett Mid Cap Value - --------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- $ 112.11 $ 125.42 $ 125.51 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------------- EQ/Marsico Focus - --------------------------------------------------------------------------------------------------------------------- Unit value $ 93.38 $ 121.84 $ 133.98 $ 147.58 $ 160.53 $ 182.16 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- 1 - --------------------------------------------------------------------------------------------------------------------- EQ/Mid Cap Value PLUS - --------------------------------------------------------------------------------------------------------------------- Unit value $ 95.25 $ 126.30 $ 148.09 $ 164.04 $ 183.59 $ 179.75 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------------- EQ/Money Market - --------------------------------------------------------------------------------------------------------------------- Unit value $ 105.22 $ 105.29 $ 105.58 $ 107.81 $ 112.08 $ 116.77 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------------- EQ/Montag & Caldwell Growth - --------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 104.85 $ 109.97 $ 118.12 $ 141.99 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------------- EQ/Mutual Shares - --------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 107.38 $ 108.61 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------------- EQ/Oppenheimer Global - --------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- $ 111.23 $ 116.99 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------------- EQ/Oppenheimer Main Street Opportunity - --------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- -- $ 95.69 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------------------
A-13 EQUI-VEST(SM) VANTAGE(SM) CONTRACTS (CONTINUED) THE UNIT VALUES AND NUMBERS OF UNITS OUTSTANDING SHOWN BELOW ARE FOR CONTRACTS OFFERED UNDER SEPARATE ACCOUNT A WITH THE SAME DAILY ASSET CHARGE OF 0.50%. UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007.
- ------------------------------------------------------------------------------------------------------------------ For the years ending December 31, ------------------------------------------------------------------------- 2002 2003 2004 2005 2006 2007 - ------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Small Cap - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 111.28 $ 108.77 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ EQ/PIMCO Real Return - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 99.91 $ 99.80 $ 110.69 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ EQ/Short Duration Bond - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 100.36 $ 103.81 $ 108.78 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ EQ/Small Company Index - ------------------------------------------------------------------------------------------------------------------ Unit value $ 82.28 $ 119.41 $ 139.82 $ 145.04 $ 169.88 $ 165.93 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ EQ/T. Rowe Price Growth Stock - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 111.43 $ 115.29 $ 110.11 $ 117.48 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ EQ/Templeton Growth - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 107.86 $ 109.56 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ EQ/UBS Growth and Income - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 109.44 $ 118.70 $ 134.82 $ 135.71 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Comstock - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 104.88 $ 120.95 $ 117.33 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Emerging Markets Equity - ------------------------------------------------------------------------------------------------------------------ Unit value $ 70.62 $ 109.56 $ 134.82 $ 178.13 $ 242.92 $ 343.25 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Mid Cap Growth - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- $ 124.44 $ 135.28 $ 164.77 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Real Estate - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- -- $ 83.23 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Multimanager Aggressive Equity - ------------------------------------------------------------------------------------------------------------------ Unit value $ 46.48 $ 63.60 $ 70.93 $ 76.37 $ 79.87 $ 88.52 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Multimanager Core Bond - ------------------------------------------------------------------------------------------------------------------ Unit value $107.64 $ 111.11 $ 114.85 $ 116.28 $ 120.06 $ 126.94 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Multimanager Health Care - ------------------------------------------------------------------------------------------------------------------ Unit value $ 79.66 $ 101.56 $ 113.31 $ 120.59 $ 126.14 $ 136.76 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Multimanager High Yield - ------------------------------------------------------------------------------------------------------------------ Unit value $ 91.03 $ 111.01 $ 120.03 $ 123.08 $ 134.63 $ 138.16 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Multimanager International Equity - ------------------------------------------------------------------------------------------------------------------ Unit value $ 78.74 $ 105.24 $ 123.46 $ 141.82 $ 176.83 $ 197.82 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------
A-14 EQUI-VEST(SM) VANTAGE(SM) CONTRACTS (CONTINUED) THE UNIT VALUES AND NUMBERS OF UNITS OUTSTANDING SHOWN BELOW ARE FOR CONTRACTS OFFERED UNDER SEPARATE ACCOUNT A WITH THE SAME DAILY ASSET CHARGE OF 0.50%. UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007.
- ------------------------------------------------------------------------------------------------------------------ For the years ending December 31, ------------------------------------------------------------------------- 2002 2003 2004 2005 2006 2007 - ------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Core Equity - ------------------------------------------------------------------------------------------------------------------ Unit value $ 77.08 $ 98.27 $ 107.24 $ 113.89 $ 128.70 $ 134.47 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Growth - ------------------------------------------------------------------------------------------------------------------ Unit value $ 68.45 $ 88.96 $ 94.42 $ 100.98 $ 100.59 $ 111.34 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Value - ------------------------------------------------------------------------------------------------------------------ Unit value $ 79.76 $ 104.03 $ 118.45 $ 126.22 $ 149.85 $ 154.53 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Multimanager Mid Cap Growth - ------------------------------------------------------------------------------------------------------------------ Unit value $ 62.53 $ 87.24 $ 96.99 $ 104.60 $ 114.09 $ 127.03 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Multimanager Mid Cap Value - ------------------------------------------------------------------------------------------------------------------ Unit value $ 74.33 $ 103.99 $ 119.18 $ 127.30 $ 145.32 $ 144.72 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Multimanager Small Cap Growth - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 114.80 $ 122.78 $ 134.64 $ 138.89 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Multimanager Small Cap Value - ------------------------------------------------------------------------------------------------------------------ Unit value $108.77 $ 148.68 $ 173.24 $ 180.45 $ 208.48 $ 187.01 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Multimanager Technology - ------------------------------------------------------------------------------------------------------------------ Unit value $ 57.12 $ 89.59 $ 93.59 $ 103.61 $ 110.62 $ 130.12 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Target 2015 Allocation - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 108.60 $ 115.88 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Target 2025 Allocation - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 109.56 $ 117.04 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Target 2035 Allocation - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 110.45 $ 118.01 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------ Target 2045 Allocation - ------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- $ 111.24 $ 119.32 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------
A-15 Appendix II: State contract availability and/or variations of certain features and benefits - -------------------------------------------------------------------------------- STATES WHERE CERTAIN EQUI-VEST(SM) VANTAGE(SM) FEATURES AND/OR BENEFITS ARE NOT AVAILABLE OR HAVE CERTAIN VARIATIONS TO FEATURES AND/OR BENEFITS:
- ----------------------------------------------------------------------------------------------------------------------- Contract type/Series/ State Features and benefits Effective Date Availability or variation - ----------------------------------------------------------------------------------------------------------------------- Texas See "Separate Account charge" for EQUI-VEST(SM) TSA Vantage(SM) Total Separate Account A EQUI-VEST(SM) Vantage(SM) in this certificates issued on or after annual expenses and the annual EQUI-VEST(SM) Vantage(SM) August 1, 2002 expenses of the Trusts when supplement. added together are not For TSA Vantage certificates issued permitted to exceed 2.75% to employees of public school (except for the Multimanager districts and open enrollment Aggressive Equity, AXA charter schools (grades K-12) who Moderate Allocation, are participants in the TSA plan, EQ/AllianceBernstein Common the providers of which are subject Stock and EQ/Money Market to the 403(b) Certification Rules of options which are not the Teacher Retirement System of permitted to exceed 1.75%) the State of Texas, and who enroll unless the Teacher Retirement and contribute to the TSA contracts System of Texas permits a through a salary reduction higher rate. agreement See "Withdrawal Charge for Currently this expense EQUI-VEST(SM) Vantage(SM)" contract limitation has the effect of in section 14 of this supplement reducing the total expenses applicable to options funded by the Multimanager Health Care, Multimanager International Equity, Multimanager Mid Cap Growth, Multimanager Mid Cap Value, Multimanager Technology, EQ/Van Kampen Emerging Markets Equity, and EQ/GAMCO Mergers and Acquisitions portfolios. The withdrawal charge equals up to 6.00% of the amount withdrawn from your account value (or of the defaulted loan amount, if applicable) in the first five contract or participation years, as applicable. Participant/ contract year Charge 1 6.00% 2 5.75% 3 5.50% 4 5.25% 5 5.00% 6 and later 0.00% Unavailability of investment option EQ/AXA Rosenberg Value Long/Short Equity investment option is closed for all new contributions and incoming transfers. EQUI-VEST(SM) Vantage(SM) enhanced Not available. death benefit See the SAI for condensed financial Information. - -----------------------------------------------------------------------------------------------------------------------
EQUI-VEST(SM) is issued by and is a service mark of AXA Equitable Life Insurance Company (AXA Equitable). Co-distributed by affiliates, AXA Advisors, LLC and AXA Distributors, LLC. 1290 Avenue of the Americas, New York, NY 10104. Copyright 2008 AXA Equitable Life Insurance Company. All rights reserved. AXA Equitable Life Insurance Company 1290 Avenue of the Americas New York, NY 10104 212-554-1234 II-1 EQUI-VEST(SM) STRATEGIES A group flexible premium deferred variable annuity contract PROSPECTUS DATED MAY 1, 2008 Please read and keep this prospectus for future reference. It contains important information that you should know before purchasing or taking any other action under your contract. You should read the prospectuses for each Trust which contain important information about the portfolios. - -------------------------------------------------------------------------------- WHAT IS EQUI-VEST(SM) STRATEGIES? EQUI-VEST(SM) Strategies is a group-deferred annuity contract ("contract") issued by AXA Equitable Life Insurance Company. Either the plan trustee or the employer will be the EQUI-VEST(SM) Strategies contract holder. Certain rights may be exercised by employees covered under an employer's plan (the "participants"). These rights will be summarized in a participation certificate ("certificate") provided to each participant. EQUI-VEST(SM) Strategies provides for the accumulation of retirement savings and for income. The contract also offers death benefit protection and a number of payout options. You invest to accumulate value on a tax-deferred basis in one or more of our variable investment options and our guaranteed interest option or in our fixed maturity options ("investment options"). You allocate amounts to the variable investment options selected by your employer. Each variable investment option is a subaccount of Separate Account A. Each variable investment option, in turn, invests in a corresponding securities portfolio ("portfolio") of either the AXA Premier VIP Trust or EQ Advisors Trust (the "Trusts"). Your investment results in a variable investment option will depend on the investment performance of the related portfolio. You may also allocate amounts to the guaranteed interest option and the fixed maturity options if your employer elects to make them available under the contract. These investment options are discussed later in this prospectus. We offer the EQUI-VEST(SM) Strategies contract to fund two types of "plans": Section 403(b) (also referred to as "TSA" plans or contracts) or governmental employer Section 457(b) plans (also referred to as "EDC" plans or contracts) (together "plans"). The EQUI-VEST(SM) Strategies contract is available to plans that meet our requirements, which may include requirements regarding plan vesting provisions. - -------------------------------------------------------------------------------- Variable investment options - -------------------------------------------------------------------------------- Fixed income - -------------------------------------------------------------------------------- o AXA Conservative Allocation(1) o EQ/JPMorgan Core Bond o AXA Conservative-Plus Allocation(1) o EQ/Long Term Bond o EQ/AllianceBernstein Intermediate o EQ/Money Market Government Securities o EQ/PIMCO Real Return o EQ/AllianceBernstein Quality Bond o EQ/Short Duration Bond o EQ/Caywood-Scholl High Yield Bond o Multimanager Core Bond o EQ/Evergreen International Bond o Multimanager High Yield o EQ/Franklin Income - -------------------------------------------------------------------------------- Domestic stocks - -------------------------------------------------------------------------------- o AXA Aggressive Allocation(1) o EQ/Calvert Socially Responsible o AXA Moderate-Plus Allocation(1) o EQ/Capital Guardian Growth o EQ/AllianceBernstein Common Stock o EQ/Capital Guardian Research o EQ/AllianceBernstein Large Cap o EQ/Davis New York Venture Growth o EQ/AllianceBernstein Small Cap o EQ/Equity 500 Index Growth o EQ/Evergreen Omega o EQ/AllianceBernstein Value o EQ/FI Mid Cap o EQ/BlackRock Basic Value Equity o EQ/Franklin Small Cap Value o EQ/Boston Advisors Equity Income o EQ/Franklin Templeton Founding Strategy - -------------------------------------------------------------------------------- Domestic stocks (continued) - -------------------------------------------------------------------------------- o EQ/GAMCO Mergers and Acquisitions o EQ/Templeton Growth o EQ/GAMCO Small Company Value o EQ/UBS Growth and Income o EQ/JPMorgan Value Opportunities o EQ/Van Kampen Comstock o EQ/Large Cap Core PLUS(2) o EQ/Van Kampen Mid Cap Growth o EQ/Large Cap Growth PLUS(3) o EQ/Van Kampen Real Estate o EQ/Legg Mason Value Equity o Multimanager Aggressive Equity o EQ/Lord Abbett Growth and Income o Multimanager Health Care o EQ/Lord Abbett Large Cap Core o Multimanager Large Cap Core Equity o EQ/Lord Abbett Mid Cap Value o Multimanager Large Cap Growth o EQ/Marsico Focus o Multimanager Large Cap Value o EQ/Mid Cap Value PLUS(4) o Multimanager Mid Cap Growth o EQ/Montag & Caldwell Growth o Multimanager Mid Cap Value o EQ/Mutual Shares o Multimanager Small Cap Growth o EQ/Oppenheimer Main Street o Multimanager Small Cap Value Opportunity o Multimanager Technology o EQ/Oppenheimer Main Street o Target 2015 Allocation Small Cap o Target 2025 Allocation o EQ/Small Company Index o Target 2035 Allocation o EQ/T. Rowe Price Growth Stock o Target 2045 Allocation - -------------------------------------------------------------------------------- International stocks - -------------------------------------------------------------------------------- o EQ/AllianceBernstein International o EQ/Oppenheimer Global o EQ/BlackRock International Value o EQ/Van Kampen Emerging Markets Equity o EQ/International Core PLUS(5) o Multimanager International Equity o EQ/International Growth - -------------------------------------------------------------------------------- Balanced/hybrid - -------------------------------------------------------------------------------- o AXA Moderate Allocation(1) - -------------------------------------------------------------------------------- (1) The AXA Allocation portfolios. (2) Formerly named "MarketPLUS Large Cap Core." (3) Formerly named "MarketPLUS Large Cap Growth." (4) Formerly named "MarketPLUS Mid Cap Value." (5) Formerly named "MarketPLUS International Core." The SEC has not approved or disapproved these securities or determined if this prospectus is accurate or complete. Any representation to the contrary is a criminal offense. The contracts are not insured by the FDIC or any other agency. They are not deposits or other obligations of any bank and are not bank guaranteed. They are subject to investment risks and possible loss of principal. X02004 Minimum contribution amounts of $20 may be made under the contract. Registration statements relating to this offering have been filed with the Securities and Exchange Commission ("SEC"). The statement of additional information ("SAI") dated May 1, 2008, is a part of one of the registration statements. The SAI is available free of charge. You may request one by writing to our Processing Office at P.O. Box 4956, Syracuse, NY 13221-4956 or calling (800) 628-6673. The SAI has been incorporated by reference into this prospectus. This prospectus and the SAI can also be obtained from the SEC's website at www.sec.gov. The table of contents for the SAI appears at the back of this prospectus. Contents of this prospectus - -------------------------------------------------------------------------------- EQUI-VEST(SM) STRATEGIES - -------------------------------------------------------------------------------- Index of key words and phrases 4 Who is AXA Equitable? 5 How to reach us 6 EQUI-VEST(SM) Strategies group annuity contract at a glance -- key features 8 - -------------------------------------------------------------------------------- FEE TABLE 10 - -------------------------------------------------------------------------------- Examples: EQUI-VEST(SM) Strategies contracts 13 Condensed financial information 16 - -------------------------------------------------------------------------------- 1. CONTRACT FEATURES AND BENEFITS 17 - -------------------------------------------------------------------------------- Contributions to your certificate 17 How EQUI-VEST(SM) Strategies is available 18 How contributions can be made 18 What are your investment options under the contract? 18 Portfolios of the Trusts 19 Selecting your investment method 25 ERISA considerations for employers 26 Allocating your contributions 26 Unallocated account 26 Death benefit 26 Your right to cancel within a certain number of days 27 - -------------------------------------------------------------------------------- 2. DETERMINING YOUR CERTIFICATE'S VALUE 28 - -------------------------------------------------------------------------------- Your account value and cash value 28 Your certificate's value in the variable investment options 28 Your certificate's value in the guaranteed interest option 28 Your certificate's value in the fixed maturity options 28 - -------------------------------------------------------------------------------- 3. TRANSFERRING YOUR MONEY AMONG INVESTMENT OPTIONS 29 - -------------------------------------------------------------------------------- Transferring your account value 29 Disruptive transfer activity 29 Automatic transfer options 30 Investment simplifier 30 Rebalancing your account value 31 - ---------------------- "We," "our" and "us" refer to AXA Equitable. When we address the reader of this prospectus with words such as "you" and "your," we mean the person who has the right or responsi bility that the prospectus is discussing at that point. This is the participant. When we use the word "contract" we mean the group contract issued to the plan trustee or employer ("contract holder"). When we use the word "certificate," we mean the participation certificate that summarizes the rights of each participant covered under the group contract. Contents of this prospectus 2 - -------------------------------------------------------------------------------- 4. ACCESSING YOUR MONEY 32 - -------------------------------------------------------------------------------- Withdrawing your account value 32 How withdrawals are taken from your account value 33 Loans 33 Termination of participation 34 Texas ORP participants 34 When to expect payments 34 Your annuity payout options 34 - -------------------------------------------------------------------------------- 5. CHARGES AND EXPENSES 36 - -------------------------------------------------------------------------------- Charges under the contracts 36 Charges that the Trusts deduct 38 Variations in charges 38 - -------------------------------------------------------------------------------- 6. PAYMENT OF DEATH BENEFIT 40 - -------------------------------------------------------------------------------- Your beneficiary and payment of benefit 40 How death benefit payment is made 40 Beneficiary continuation option 40 - -------------------------------------------------------------------------------- 7. TAX INFORMATION 41 - -------------------------------------------------------------------------------- Tax information and ERISA matters 41 Choosing a contract to fund a retirement arrangement 41 Special rules for tax-favored retirement programs 41 Additional "Saver's Credit" for salary reduction contributions to certain plans 41 Tax-sheltered annuity arrangements (TSAs) 42 Distributions from TSAs 44 Public employee deferred compensation plans (EDC Plans) 47 ERISA matters 49 Certain rules applicable to plans designed to comply with Section 404(c) of ERISA 50 Federal and state income tax withholding and information reporting 50 Federal income tax withholding on periodic annuity payments 50 Federal income tax withholding on non-periodic annuity payments (withdrawals) 50 Mandatory withholding from TSA, governmental employer EDC and qualified plan distributions 51 Impact of taxes to AXA Equitable 51 - -------------------------------------------------------------------------------- 8. MORE INFORMATION 52 - -------------------------------------------------------------------------------- About our Separate Account A 52 About the Trusts 52 About our fixed maturity options 52 About the general account 53 Dates and prices at which certificate events occur 54 About your voting rights 54 About legal proceedings 55 Financial statements 55 Transfers of ownership, collateral assignments, loans, and borrowing 55 Funding changes 55 Distribution of the contracts 55 - -------------------------------------------------------------------------------- 9. INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE 57 - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- APPENDICES - -------------------------------------------------------------------------------- I -- Condensed financial information I-1 II -- Market value adjustment example II-1 III -- Death benefit example III-1 IV -- State contract availability and/or variations of certain features and benefits IV-1 - -------------------------------------------------------------------------------- STATEMENT OF ADDITIONAL INFORMATION TABLE OF CONTENTS - -------------------------------------------------------------------------------- 3 Contents of this prospectus Index of key words and phrases - -------------------------------------------------------------------------------- This index should help you locate more information on the terms used in this prospectus. Page account value 28 annuity payout options 34 beneficiary 40 beneficiary continuation option 40 business day 54 cash value 28 certificate cover, 31 contract date 26 contract date anniversary 26 contract year 26 contributions 17 disruptive transfer activity 29 DOL 26 EDC cover EQAccess 6 ERISA 26 elective deferral contributions 43 fixed maturity amount 24 fixed maturity option 24 guaranteed interest option 24 investment options cover, 18 market adjusted amount 24 market timing 29 market value adjustment 24 maturity value 24 net loan interest charge 10 partial withdrawals 32 participant cover participation date 9 participation date anniversary 9 participation year 9 portfolio 9 processing office 6 rate to maturity 24 Required Beginning Date 48 SAI cover SEC cover salary reduction contributions 41 TOPS 6 TSA cover Trusts cover unit 28 unit investment trust 52 variable investment options cover, 18 To make this prospectus easier to read, we sometimes use different words than in the contract or supplemental materials. This is illustrated below. Although we do use different words, they have the same meaning in this prospectus as in the contract or supplemental materials. Your financial professional can provide further explanation about your contract. - -------------------------------------------------------------------------------- Prospectus Contract or Supplemental Materials - -------------------------------------------------------------------------------- account value Annuity Account Value unit Accumulation unit unit value Accumulation unit value - -------------------------------------------------------------------------------- Index of key words and phrases 4 Who is AXA Equitable? - -------------------------------------------------------------------------------- We are AXA Equitable Life Insurance Company ("AXA Equitable") (until 2004, The Equitable Life Assurance Society of the United States), a New York stock life insurance corporation. We have been doing business since 1859. AXA Equitable is an indirect, wholly-owned subsidiary of AXA Financial, Inc., a holding company, which is itself an indirect, wholly-owned subsidiary of AXA SA ("AXA"). AXA is a French holding company for an international group of insurance and related financial services companies. As the ultimate sole shareholder of AXA Equitable, and under its other arrangements with AXA Equitable and AXA Equitable's parent, AXA exercises significant influence over the operations and capital structure of AXA Equitable and its parent. AXA holds its interest in AXA Equitable through a number of other intermediate holding companies, including Oudinot Participations, AXA America Holdings, Inc. and AXA Equitable Financial Services, LLC. AXA Equitable is obligated to pay all amounts that are promised to be paid under the contracts. No company other than AXA Equitable, however, has any legal responsibility to pay amounts that AXA Equitable owes under the contracts. AXA Financial, Inc. and its consolidated subsidiaries managed approximately $888.6 billion in assets as of December 31, 2007. For more than 100 years AXA Equitable has been among the largest insurance companies in the United States. We are licensed to sell life insurance and annuities in all fifty states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. Our home office is located at 1290 Avenue of the Americas, New York, NY 10104. 5 Who is AXA Equitable? HOW TO REACH US Please communicate with us at the mailing addresses listed below for the purposes described. Certain methods of contacting us, such as by telephone or electronically, may be unavailable or delayed. For example, our facsimile service may not be available at all times and/or we may be unavailable due to emergency closing. In addition, the level and type of service available may be restricted based on criteria established by us. In order to avoid delays in processing, please send your correspondence and check to the appropriate location, as follows: For correspondence with checks: - -------------------------------------------------------------------------------- FOR CONTRIBUTIONS SENT BY REGULAR MAIL: - -------------------------------------------------------------------------------- AXA Equitable EQUI-VEST(SM) Unit Annuity Lockbox P.O. Box 13463 Newark, NJ 07188-0463 - -------------------------------------------------------------------------------- FOR TSA, GOVERNMENTAL EMPLOYER EDC AND CORPORATE TRUSTEED LOAN REPAYMENTS SENT BY REGULAR MAIL: - -------------------------------------------------------------------------------- AXA Equitable EQUI-VEST(SM) Loan Repayments Lockbox P.O. Box 13496 Newark, NJ 07188-0496 - -------------------------------------------------------------------------------- FOR CONTRIBUTIONS SENT BY EXPRESS DELIVERY: - -------------------------------------------------------------------------------- AXA Equitable JPMorganChase EQUI-VEST Lockbox #13463 4 Chase Metrotech Center (7th Floor) Brooklyn, NY 11245-0001 Telephone number to be listed on express mail packages Attn: Extraction Supervisor, (718) 242-2992 For correspondence without checks: - -------------------------------------------------------------------------------- FOR ALL OTHER COMMUNICATIONS (E.G., REQUESTS FOR TRANSFERS, WITHDRAWALS, OR REQUIRED NOTICES) SENT BY REGULAR MAIL: - -------------------------------------------------------------------------------- AXA Equitable EQUI-VEST(SM) Processing Office P.O. Box 4956 Syracuse, NY 13221-4956 - -------------------------------------------------------------------------------- FOR ALL OTHER COMMUNICATIONS (E.G., REQUESTS FOR TRANSFERS, WITHDRAWALS, OR REQUIRED NOTICES) SENT BY EXPRESS DELIVERY: - -------------------------------------------------------------------------------- AXA Equitable EQUI-VEST(SM) Processing Office 100 Madison Street, Suite 1000 Syracuse, NY 13202 ---------------------------------- Your correspondence will be picked up at the mailing address noted above and delivered to the appropriate processing office. Your correspondence, however, is not considered received by us until it is received at one of our processing offices. Our processing office for correspondence with checks is 4 Chase Metrotech Center, 7th Floor, Brooklyn, NY. Our processing office for all other communications is 100 Madison Street, Suite 100, Syracuse, NY. - -------------------------------------------------------------------------------- REPORTS WE PROVIDE: - -------------------------------------------------------------------------------- o written confirmation of financial transactions; o quarterly statements of your certificate values as of the close of each calendar quarter; and o annual statement of your certificate values as of your participation date anniversary. - -------------------------------------------------------------------------------- TELEPHONE OPERATED PROGRAM SUPPORT ("TOPS") AND EQACCESS SYSTEMS - -------------------------------------------------------------------------------- TOPS is designed to provide you with up-to-date information via touch-tone telephone. EQAccess is designed to provide this information through the Internet. You can obtain information on: o your current account value; o your current allocation percentages; o the number of units you have in the variable investment options; o rates to maturity for fixed maturity options; o the daily unit values for the variable investment options; and o performance information regarding the variable investment options (not available through TOPS). You can also: o change your allocation percentages and/or transfer among the variable investment options and the guaranteed interest option (not available for transfers to fixed maturity options); and o change your TOPS personal identification number ("PIN") (through TOPS only) and your EQAccess password (through EQAccess only). Under TOPS only you can: o elect the investment simplifier. Under EQAccess only you can: o elect to receive certain contract statements electronically; o change your address; and o access "Frequently Asked Questions" and certain service forms. TOPS and EQAccess are normally available seven days a week, 24 hours a day. You can use TOPS by calling toll free (800) 755-7777. You may use EQAccess by visiting our website at www.axaonline.com and logging in to access your account. Of course, for reasons beyond our control, these services may sometimes be unavailable. We have established procedures to reasonably confirm that the instructions communicated by telephone or the Internet are genuine. Who is AXA Equitable? 6 For example, we will require certain personal identification information before we will act on telephone or Internet instructions and we will provide written confirmation of your transfers. If we do not employ reasonable procedures to confirm the genuineness of telephone or Internet instructions, we may be liable for any losses arising out of any act or omission that constitutes negligence, lack of good faith or willful misconduct. In light of our procedures, we will not be liable for following telephone or Internet instructions we reasonably believe to be genuine. We reserve the right to limit access to these services if we determine that you engaged in disruptive transfer activity, such as "market timing" (see "Disruptive transfer activity" in "Transferring your money among investment options" later in this prospectus). - -------------------------------------------------------------------------------- CUSTOMER SERVICE REPRESENTATIVE: - -------------------------------------------------------------------------------- You may also use our toll-free number (800) 628-6673 to speak with one of our customer service representatives. Our customer service representatives are available on each business day Monday through Thursday from 8:00 a.m. to 7:00 p.m., and on Friday until 5:00 p.m., Eastern Time. Hearing or speech-impaired clients may call the AT&T National Relay Number at (800) 855-2880 for information about your account. If you have a Telecommunications Device for the Deaf (TDD), you may relay messages or questions to our Customer Service Department at (800) 628-6673, Monday through Thursday from 8:00 a.m. to 7:00 p.m., and on Friday until 5:00 p.m. Eastern Time. AT&T personnel will communicate our reply back to you, via the TDD. - -------------------------------------------------------------------------------- TOLL-FREE TELEPHONE SERVICE: - -------------------------------------------------------------------------------- You may reach us toll-free by calling (800) 841-0801 for a recording of daily unit values for the variable investment options. WE REQUIRE THAT THE FOLLOWING TYPES OF COMMUNICATIONS BE ON SPECIFIC FORMS WE PROVIDE FOR THAT PURPOSE: (1) election of the investment simplifier; (2) election of the automatic deposit service (TSA certificates only); (3) election of the rebalancing program; (4) election of required minimum distribution automatic withdrawal option; (5) election of beneficiary continuation option; (6) transfer/rollover of assets to another carrier; (7) request for a loan (8) tax withholding election; and (9) contract surrender and withdrawal requests. WE ALSO HAVE SPECIFIC FORMS THAT WE RECOMMEND YOU USE FOR THE FOLLOWING TYPES OF REQUESTS: (1) address changes; (2) beneficiary changes; and (3) transfers among investment options. TO CHANGE OR CANCEL ANY OF THE FOLLOWING WE REQUIRE WRITTEN NOTIFICATION GENERALLY AT LEAST SEVEN CALENDAR DAYS BEFORE THE NEXT SCHEDULED TRANSACTION: (1) investment simplifier; (2) rebalancing program; (3) systematic withdrawals; and (4) the date annuity payments are to begin. You must sign and date all these requests. Any written request that is not on one of our forms must include your name and your contract number along with adequate details about the notice you wish to give or the action you wish us to take. SIGNATURES: The proper person to sign forms, notices and requests is the participant and in some cases the employer, if the Plan requires it. 7 Who is AXA Equitable? EQUI-VEST(SM) Strategies group annuity contract at a glance -- key features - -------------------------------------------------------------------------------- Professional EQUI-VEST(SM) Strategies variable investment options investment invest in different portfolios sub-advised by professional management investment advisers. - ------------------------------------------------------------------------------------------- Variable Investment The Variable Investment Options for which information is Options provided in this prospectus are available under the contract, subject to state regulatory approval and availability under your employer's plan. - ------------------------------------------------------------------------------------------- Guaranteed o Principal and interest guarantees interest option o Interest rates set periodically - ------------------------------------------------------------------------------------------- Fixed maturity options o 10 fixed maturity options with maturities ranging from approximately 1 to 10 years. o Each fixed maturity option offers a guarantee of principal and interest rate if you hold it to maturity. ---------------------------------------------------------------- If you make any withdrawals (including transfers, surrender or termination of your certificate or when we make deductions for charges) from a fixed maturity option before it matures, we will make a market value adjustment, which will increase or decrease any fixed maturity amount you have in that fixed maturity option. - ------------------------------------------------------------------------------------------- Tax considerations o No tax on earnings inside the contract until you make withdrawals from your certificate or receive annuity payments. o No tax on transfers among investment options inside the contract. ---------------------------------------------------------------- Because you are purchasing an annuity contract as a Tax Sheltered Annuity (TSA), or to fund an eligible government employer section 457(b) plan, employers should be aware that such annuities do not provide tax deferral benefits beyond those already provided by the Internal Revenue Code. Before purchasing one of these contracts, employers should consider whether its features and benefits beyond tax deferral meet participant's needs and goals. Employers may also want to consider the relative features, benefits and costs of these contracts with any other investment that participants may use in connection with their retirement plan or arrangement. Depending on the participant's personal situation, the contract's guaranteed benefits may have limited usefulness because of required minimum distributions ("RMDs"). (For more information, see "Tax information," later in this prospectus.) - ------------------------------------------------------------------------------------------- Contribution amounts o $20 (minimum) each contribution - ------------------------------------------------------------------------------------------- Access to your money o Partial withdrawals o Several withdrawal options on a periodic basis o Certificate surrender Withdrawals are subject to the terms of the plan and may be limited. You may incur a withdrawal charge for certain withdrawals or if you surrender your certificate. You may also incur income tax and a penalty tax. - ------------------------------------------------------------------------------------------- Death Benefit Protection o The contract provides a death benefit for the beneficiary. The death benefit is equal to the account value or the standard death benefit, whichever is higher. However, if you elect the enhanced death benefit, the death benefit is equal to your account value or the enhanced death benefit, whichever is higher. - ------------------------------------------------------------------------------------------- Payout options o Fixed annuity payout options o Variable Immediate Annuity payout options (described in a separate prospectus for that option) - -------------------------------------------------------------------------------------------
EQUI-VEST(SM) Strategies group annuity contract at a glance -- key features 8 - ------------------------------------------------------------------------------------------- Additional features o Dollar cost averaging by automatic transfers -- Interest sweep option -- Fixed dollar option o Account value rebalancing (quarterly, semiannually, and annually) o No charge on transfers among investment options o Waiver of withdrawal charge under certain circumstances - ------------------------------------------------------------------------------------------- Fees and Charges o Separate account charge deducted daily on amounts invested in variable investment options: Varies by employer group, annual rate ranges from 0.25% to 1.20%. o Annual administrative charge: Varies by employer group: current $30 ($65 maximum) or 2% of the account value plus any amounts previously withdrawn during the participation year, if less. The charge is waived for account values equal or greater than $25,000. For particular groups, the charge may be waived or reduced for account values less than $25,000. o Charge for certain third-party transfers: $25 current ($65 maximum) per occurrence per participant. o No sales charge deducted at the time contributions are made. o Withdrawal charge: Varies by employer group, but the maximum charge is 6% of the amount withdrawn, with the percentage declining during the first ten participation years. Under some group contracts, withdrawal charges are only made for the first five participation years, and under some group contracts there is no withdrawal charge. ---------------------------------------------------------------- The 12-month period beginning on the participant's participation date and each 12-month period thereafter is a "participation year." The "participation date" means the earlier of (a) the business day on which we issue a certificate to the Plan participant under the EQUI-VEST(SM) Strategies contract and (b) the business day on which the first contribution for the Plan participant is received at our processing office. For example, if your participation date is May 1, your participation date anniversary is April 30. ---------------------------------------------------------------- o We deduct a charge designed to approximate certain taxes that may be imposed on us, such as premium taxes in your state. The charge is generally deducted from the amount applied to an annuity payout option. o We deduct an annual charge equal to 0.15% of the account value on each participation date anniversary if you elect the enhanced death benefit. o We deduct a $350 annuity administrative fee from amounts applied to a variable annuity payout option. This option is described in a separate prospectus that is available from your financial professional. o Annual expenses of the Trusts' portfolios are calculated as a percentage of the average daily net assets invested in each portfolio. Please see "Fee Table" later in this prospectus for details. - ------------------------------------------------------------------------------------------- Participant issue ages o 0-75 - -------------------------------------------------------------------------------------------
THE ABOVE IS NOT A COMPLETE DESCRIPTION OF ALL MATERIAL PROVISIONS OF YOUR CERTIFICATE. IN SOME CASES RESTRICTIONS OR EXCEPTIONS APPLY, OR MAY BE IMPOSED BY EMPLOYERS UNDER THEIR PLANS. WE RESERVE THE RIGHT TO CHANGE OR WAIVE CERTAIN CHARGES WITHIN SPECIFIED LIMITS. ALSO, ALL FEATURES OF THE CONTRACT, ARE NOT NECESSARILY AVAILABLE IN YOUR STATE OR AT CERTAIN AGES. YOUR EMPLOYER MAY ELECT NOT TO OFFER ALL OF THE INVESTMENT OPTIONS UNDER THE CONTRACT THAT ARE DESCRIBED IN THIS PROSPECTUS. For more detailed information we urge you to read the contents of this prospectus, as well as your certificate. This prospectus provides a description of all material provisions of the contract. Please feel free to speak with your financial professional, or call us, if you have any questions. If for any reason you are not satisfied with your certificate, you may return it to us for a refund within a certain number of days. Please see "Your right to cancel within a certain number of days" later in this prospectus for additional information. 9 EQUI-VEST(SM) Strategies group annuity contract at a glance -- key features Fee table - -------------------------------------------------------------------------------- The following tables describe the fees and expenses that you will pay when buying, owning, and surrendering an EQUI-VEST(SM) Strategies certificate. Each of the charges and expenses is more fully described in "Charges and expenses" later in this prospectus. The first table describes fees and expenses that you will pay at the time that you make certain withdrawals, surrender your certificate, purchase a Variable Immediate Annuity payout option or make certain transfers and rollovers. Charges designed to approximate certain taxes that may be imposed on us, such as premium taxes in your state, may also apply. Charges for certain features shown in the fee table are mutually exclusive. - ------------------------------------------------------------------------------------------------------------------------------ Charges we deduct from your account value at the time you request certain transactions - ------------------------------------------------------------------------------------------------------------------------------ Maximum withdrawal charge as a percentage of the amount with- drawn (deducted when you surrender your certificate or make certain withdrawals) 6.00% - ------------------------------------------------------------------------------------------------------------------------------ Charge if you elect a Variable Immediate Annuity payout option (which is described in a separate prospectus for that option) $350 - ------------------------------------------------------------------------------------------------------------------------------ Charge for third-party transfer or direct rollover $65 maximum per participant for each occurrence; currently $25 per participant for each occurrence. - ------------------------------------------------------------------------------------------------------------------------------ The next table describes the fees and expenses that you will pay periodically during the time that you participate in the contract, not including underlying Trust portfolio fees and expenses. - ------------------------------------------------------------------------------------------------------------------------------ Charges we deduct from your account value on each participation date anniversary - ------------------------------------------------------------------------------------------------------------------------------ Maximum annual administrative charge The lesser of a current charge of $30 (maximum $65) or 2% of your account value plus any prior withdrawals during the participation year. - ------------------------------------------------------------------------------------------------------------------------------ Net loan interest charge -- (calculated and deducted daily as a percentage of the outstanding loan amount) 2.00%(1) - ------------------------------------------------------------------------------------------------------------------------------ Charges we deduct from your variable investment options expressed as an annual percentage of daily net assets - ------------------------------------------------------------------------------------------------------------------------------ Separate Account annual expenses(2) 0.25% to 1.20% (maximum) - ------------------------------------------------------------------------------------------------------------------------------ Charges we deduct from your account value each year if you elect the enhanced death benefit - ------------------------------------------------------------------------------------------------------------------------------ Enhanced death benefit charge (as a percentage of your account value) is deducted annually on each participation date anniversary 0.15% (maximum) - ------------------------------------------------------------------------------------------------------------------------------ You also bear your proportionate share of all fees and expenses paid by a "portfolio" that corresponds to any variable investment option you are using. This table shows the lowest and highest total operating expenses charged by any of the portfolios that you will pay periodically during the time that you own your certificate. These fees and expenses are reflected in the portfolio's net asset value each day. Therefore, they reduce the investment return of the portfolio and the related variable investment option. Actual fees and expenses are likely to fluctuate from year to year. More detail concerning each portfolio's fees and expenses is contained in the Trust prospectus for the portfolio. - ------------------------------------------------------------------------------------------------------------------------------ Portfolio operating expenses expressed as an annual percentage of daily net assets - ------------------------------------------------------------------------------------------------------------------------------ Total Annual Portfolio Operating Expenses for 2007 (expenses that are deducted from port- Lowest Highest folio assets including management fees, 12b-1 ------ ------- fees, service fees, and/or other expenses)(3) 0.38% 3.71% - ------------------------------------------------------------------------------------------------------------------------------
Fee table 10 This table shows the fees and expenses for 2007 as an annual percentage of each portfolio's daily average net assets.
- --------------------------------------------------------------------------------------------- Manage- ment 12b-1 Other Portfolio Name Fees(4) Fees(5) Expenses(6) - --------------------------------------------------------------------------------------------- AXA Premier VIP Trust: - --------------------------------------------------------------------------------------------- AXA Aggressive Allocation 0.10% 0.25% 0.17% AXA Conservative Allocation 0.10% 0.25% 0.21% AXA Conservative-Plus Allocation 0.10% 0.25% 0.19% AXA Moderate Allocation 0.10% -- 0.17% AXA Moderate-Plus Allocation 0.10% 0.25% 0.17% Multimanager Aggressive Equity 0.60% -- 0.19% Multimanager Core Bond 0.58% 0.25% 0.18% Multimanager Health Care 1.20% 0.25% 0.23% Multimanager High Yield 0.57% -- 0.19% Multimanager International Equity 1.00% 0.25% 0.23% Multimanager Large Cap Core Equity 0.89% 0.25% 0.21% Multimanager Large Cap Growth 0.90% 0.25% 0.22% Multimanager Large Cap Value 0.87% 0.25% 0.20% Multimanager Mid Cap Growth 1.10% 0.25% 0.20% Multimanager Mid Cap Value 1.09% 0.25% 0.20% Multimanager Small Cap Growth 1.05% 0.25% 0.27% Multimanager Small Cap Value 1.03% 0.25% 0.18% Multimanager Technology 1.20% 0.25% 0.22% Target 2015 Allocation 0.10% 0.25% 1.71% Target 2025 Allocation 0.10% 0.25% 1.41% Target 2035 Allocation 0.10% 0.25% 2.38% Target 2045 Allocation 0.10% 0.25% 2.81% - --------------------------------------------------------------------------------------------- EQ Advisors Trust: - --------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock 0.47% -- 0.13% EQ/AllianceBernstein Intermediate Government Securities 0.50% -- 0.13% EQ/AllianceBernstein International 0.71% -- 0.18% EQ/AllianceBernstein Large Cap Growth 0.90% 0.25% 0.13% EQ/AllianceBernstein Quality Bond 0.50% -- 0.14% EQ/AllianceBernstein Small Cap Growth 0.74% -- 0.13% EQ/AllianceBernstein Value 0.59% -- 0.12% EQ/BlackRock Basic Value Equity 0.55% 0.25% 0.13% EQ/BlackRock International Value 0.81% 0.25% 0.19% EQ/Boston Advisors Equity Income 0.75% 0.25% 0.14% EQ/Calvert Socially Responsible 0.65% 0.25% 0.23% EQ/Capital Guardian Growth 0.65% 0.25% 0.14% EQ/Capital Guardian Research 0.63% 0.25% 0.13% EQ/Caywood-Scholl High Yield Bond 0.60% 0.25% 0.16% EQ/Davis New York Venture 0.85% 0.25% 0.18% EQ/Equity 500 Index 0.25% -- 0.13% EQ/Evergreen International Bond 0.70% 0.25% 0.17% EQ/Evergreen Omega 0.65% 0.25% 0.25% EQ/FI Mid Cap 0.68% 0.25% 0.13% EQ/Franklin Income 0.90% 0.25% 0.15% EQ/Franklin Small Cap Value 0.90% 0.25% 0.18% EQ/Franklin Templeton Founding Strategy 0.05% 0.25% 0.22% EQ/GAMCO Mergers and Acquisitions 0.90% 0.25% 0.19% EQ/GAMCO Small Company Value 0.76% 0.25% 0.12% EQ/International Core PLUS 0.60% 0.25% 0.30% EQ/International Growth 0.85% 0.25% 0.27% EQ/JPMorgan Core Bond 0.43% 0.25% 0.13% EQ/JPMorgan Value Opportunities 0.60% 0.25% 0.14% EQ/Large Cap Core PLUS 0.50% 0.25% 0.25% EQ/Large Cap Growth PLUS 0.50% 0.25% 0.24% EQ/Legg Mason Value Equity 0.65% 0.25% 0.17% EQ/Long Term Bond 0.40% 0.25% 0.13% EQ/Lord Abbett Growth and Income 0.65% 0.25% 0.16% - --------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------------------------------- Total Acquired Annual Net Fund Expenses Fee Waiv- Annual Fees and (Before ers and/or Expenses Expenses Expense Expense After (Underlying Limita- Reimburse- Expense Portfolio Name Portfolios)(7) tions) ments(8) Limitations - ------------------------------------------------------------------------------------------------------------------- AXA Premier VIP Trust: - ------------------------------------------------------------------------------------------------------------------- AXA Aggressive Allocation 0.92% 1.44% (0.17)% 1.27% AXA Conservative Allocation 0.69% 1.25% (0.21)% 1.04% AXA Conservative-Plus Allocation 0.76% 1.30% (0.19)% 1.11% AXA Moderate Allocation 0.82% 1.09% (0.17)% 0.92% AXA Moderate-Plus Allocation 0.86% 1.38% (0.17)% 1.21% Multimanager Aggressive Equity -- 0.79% -- 0.79% Multimanager Core Bond -- 1.01% (0.01)% 1.00% Multimanager Health Care -- 1.68% 0.00% 1.68% Multimanager High Yield -- 0.76% -- 0.76% Multimanager International Equity -- 1.48% 0.00% 1.48% Multimanager Large Cap Core Equity -- 1.35% 0.00% 1.35% Multimanager Large Cap Growth -- 1.37% (0.02)% 1.35% Multimanager Large Cap Value -- 1.32% 0.00% 1.32% Multimanager Mid Cap Growth -- 1.55% 0.00% 1.55% Multimanager Mid Cap Value -- 1.54% 0.00% 1.54% Multimanager Small Cap Growth -- 1.57% (0.02)% 1.55% Multimanager Small Cap Value -- 1.46% 0.00% 1.46% Multimanager Technology 0.01% 1.68% 0.00% 1.68% Target 2015 Allocation 0.55% 2.61% (1.46)% 1.15% Target 2025 Allocation 0.55% 2.31% (1.16)% 1.15% Target 2035 Allocation 0.55% 3.28% (2.13)% 1.15% Target 2045 Allocation 0.55% 3.71% (2.56)% 1.15% - ------------------------------------------------------------------------------------------------------------------- EQ Advisors Trust: - ------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock -- 0.60% -- 0.60% EQ/AllianceBernstein Intermediate Government Securities -- 0.63% -- 0.63% EQ/AllianceBernstein International -- 0.89% (0.04)% 0.85% EQ/AllianceBernstein Large Cap Growth -- 1.28% (0.23)% 1.05% EQ/AllianceBernstein Quality Bond -- 0.64% -- 0.64% EQ/AllianceBernstein Small Cap Growth -- 0.87% -- 0.87% EQ/AllianceBernstein Value -- 0.71% (0.01)% 0.70% EQ/BlackRock Basic Value Equity -- 0.93% 0.00% 0.93% EQ/BlackRock International Value -- 1.25% 0.00% 1.25% EQ/Boston Advisors Equity Income -- 1.14% (0.09)% 1.05% EQ/Calvert Socially Responsible -- 1.13% (0.08)% 1.05% EQ/Capital Guardian Growth 0.01% 1.05% (0.09)% 0.96% EQ/Capital Guardian Research -- 1.01% (0.06)% 0.95% EQ/Caywood-Scholl High Yield Bond -- 1.01% (0.01)% 1.00% EQ/Davis New York Venture -- 1.28% 0.00% 1.28% EQ/Equity 500 Index -- 0.38% -- 0.38% EQ/Evergreen International Bond -- 1.12% 0.00% 1.12% EQ/Evergreen Omega -- 1.15% 0.00% 1.15% EQ/FI Mid Cap -- 1.06% (0.06)% 1.00% EQ/Franklin Income -- 1.30% 0.00% 1.30% EQ/Franklin Small Cap Value -- 1.33% (0.03)% 1.30% EQ/Franklin Templeton Founding Strategy 1.05% 1.57% (0.12)% 1.45%(9) EQ/GAMCO Mergers and Acquisitions -- 1.34% 0.00% 1.34% EQ/GAMCO Small Company Value -- 1.13% 0.00% 1.13% EQ/International Core PLUS 0.04% 1.19% (0.05)% 1.14% EQ/International Growth -- 1.37% 0.00% 1.37% EQ/JPMorgan Core Bond -- 0.81% 0.00% 0.81% EQ/JPMorgan Value Opportunities -- 0.99% (0.04)% 0.95% EQ/Large Cap Core PLUS 0.02% 1.02% (0.05)% 0.97% EQ/Large Cap Growth PLUS 0.02% 1.01% (0.04)% 0.97% EQ/Legg Mason Value Equity -- 1.07% (0.07)% 1.00% EQ/Long Term Bond -- 0.78% 0.00% 0.78% EQ/Lord Abbett Growth and Income -- 1.06% (0.06)% 1.00% - -------------------------------------------------------------------------------------------------------------------
11 Fee table
- --------------------------------------------------------------------------------------------------------------------------------- Total Acquired Annual Net Fund Expenses Fee Waiv- Annual Fees and (Before ers and/or Expenses Manage- Expenses Expense Expense After ment 12b-1 Other (Underlying Limita- Reimburse- Expense Portfolio Name Fees(4) Fees(5) Expenses(6) Portfolios)(7) tions) ments(8) Limitations - --------------------------------------------------------------------------------------------------------------------------------- EQ/Lord Abbett Large Cap Core 0.65% 0.25% 0.21% -- 1.11% (0.11)% 1.00% EQ/Lord Abbett Mid Cap Value 0.70% 0.25% 0.15% -- 1.10% (0.05)% 1.05% EQ/Marsico Focus 0.85% 0.25% 0.13% -- 1.23% (0.08)% 1.15% EQ/Mid Cap Value PLUS 0.55% 0.25% 0.24% 0.02% 1.06% (0.04)% 1.02% EQ/Money Market 0.32% -- 0.13% -- 0.45% -- 0.45% EQ/Montag & Caldwell Growth 0.75% 0.25% 0.15% -- 1.15% 0.00% 1.15% EQ/Mutual Shares 0.90% 0.25% 0.21% -- 1.36% (0.06)% 1.30% EQ/Oppenheimer Global 0.95% 0.25% 0.51% 0.01% 1.72% (0.36)% 1.36% EQ/Oppenheimer Main Street Opportunity 0.85% 0.25% 0.45% 0.01% 1.56% (0.25)% 1.31% EQ/Oppenheimer Main Street Small Cap 0.90% 0.25% 0.48% 0.01% 1.64% (0.33)% 1.31% EQ/PIMCO Real Return 0.55% 0.25% 0.14% -- 0.94% (0.04)% 0.90% EQ/Short Duration Bond 0.43% 0.25% 0.15% -- 0.83% 0.00% 0.83% EQ/Small Company Index 0.25% 0.25% 0.14% -- 0.64% 0.00% 0.64% EQ/T. Rowe Price Growth Stock 0.79% 0.25% 0.14% -- 1.18% (0.03)% 1.15% EQ/Templeton Growth 0.95% 0.25% 0.20% -- 1.40% (0.05)% 1.35% EQ/UBS Growth and Income 0.75% 0.25% 0.16% -- 1.16% (0.11)% 1.05% EQ/Van Kampen Comstock 0.65% 0.25% 0.15% -- 1.05% (0.05)% 1.00% EQ/Van Kampen Emerging Markets Equity 1.11% 0.25% 0.28% -- 1.64% 0.00% 1.64% EQ/Van Kampen Mid Cap Growth 0.70% 0.25% 0.15% -- 1.10% (0.05)% 1.05% EQ/Van Kampen Real Estate 0.90% 0.25% 0.21% -- 1.36% (0.10)% 1.26% - ---------------------------------------------------------------------------------------------------------------------------------
Notes: (1) We charge interest on loans under your certificate but also credit you interest on your loan reserve account. Our net loan interest charge is determined by the excess between the interest rate we charge over the interest rate we credit. See "Loans" under "Accessing your money" later in this Prospectus for more information on how the loan interest is calculated and for restrictions that may apply. (2) For mortality and expense risks, and administrative and financial accounting expenses. A portion of this charge is for providing the death benefit. For contracts issued in Texas to public schools and open enrollment charter schools (kindergarten through twelfth grade), the total Separate Account charges and the total portfolio operating expenses of the Trusts when added together are not permitted to exceed 2.75%. (3) "Total Annual Portfolio Operating Expenses" are based, in part, on estimated amounts for options added during the fiscal year 2007 and for the underlying portfolios. (4) The management fees for each portfolio cannot be increased without a vote of that portfolio's shareholders. See footnote (8) for any expense limitation agreement information. (5) Portfolio shares are all subject to fees imposed under the distribution plans (the "Rule 12b-1 Plan") adopted by the Trusts pursuant to Rule 12b-1 under the Investment Company Act of 1940. For the portfolios of the AXA Premier VIP Trust and the EQ Advisors Trust, the 12b-1 fee will not be increased for the life of the contracts. A "--" indicates that there is no 12b-1 Fee. (6) The amounts shown as "Other Expenses" will fluctuate from year to year depending on actual expenses. See footnote (8) for any expense limitation agreement information. (7) Each of these variable investment options invests in a corresponding portfolio of one of the Trusts or other unaffiliated investment companies. Each portfolio, in turn, invests in shares of other portfolios of the Trusts and/or shares of unaffiliated portfolios ("underlying portfolios"). Amounts shown reflect each portfolio's pro rata share of the fees and expenses of the underlying portfolio(s) in which it invests. A "--" indicates that the listed portfolio does not invest in underlying portfolios. (8) The amounts shown reflect any fee waivers and/or expense reimbursements that apply to each portfolio. A "--" indicates that there is no expense limitation in effect, and "0.00%" indicates that the expense limitation arrangement did not result in a fee waiver or reimbursement. AXA Equitable, the investment manager of AXA Premier VIP Trust and EQ Advisors Trust, has entered into expense limitation agreements with respect to certain portfolios, which are effective through April 30, 2009 (unless the Board of Trustees of AXA Premier VIP Trust or EQ Advisors Trust, as applicable, consents to an earlier revision or termination of this arrangement). Under these agreements, AXA Equitable has agreed to waive or limit its fees and assume other expenses of certain portfolios, if necessary, in an amount that limits such portfolio's Total Annual Expenses (exclusive of interest, taxes, brokerage commissions, capitalized expenditures, expenses of the underlying portfolios in which the portfolio invests and extraordinary expenses) to not more than the amounts specified in the agreements. Therefore, each portfolio may at a later date make a reimbursement to AXA Equitable for any of the management fees waived or limited and other expenses assumed and paid by AXA Equitable pursuant to the expense limitation agreements provided that the portfolio's current annual operating expenses do not exceed the operating expense limit determined for such portfolio. In addition, a portion of the brokerage commissions of certain portfolios of AXA Premier VIP Trust and EQ Advisors Trust is used to reduce the applicable portfolio's expenses. If the above table reflected both the expense limitation arrangements plus the portion of the brokerage commissions used to reduce portfolio expenses, the net expenses would be as shown in the table below: Fee table 12 ----------------------------------------------------------------------------- Portfolio Name: ----------------------------------------------------------------------------- Multimanager Aggressive Equity 0.72% ----------------------------------------------------------------------------- Multimanager Health Care 1.67% ----------------------------------------------------------------------------- Multimanager Large Cap Core Equity 1.34% ----------------------------------------------------------------------------- Multimanager Large Cap Growth 1.29% ----------------------------------------------------------------------------- Multimanager Large Cap Value 1.26% ----------------------------------------------------------------------------- Multimanager Mid Cap Growth 1.52% ----------------------------------------------------------------------------- Multimanager Mid Cap Value 1.53% ----------------------------------------------------------------------------- Multimanager Small Cap Growth 1.35% ----------------------------------------------------------------------------- Multimanager Small Cap Value 1.45% ----------------------------------------------------------------------------- Multimanager Technology 1.67% ----------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock 0.59% ----------------------------------------------------------------------------- EQ/AllianceBernstein Large Cap Growth 1.03% ----------------------------------------------------------------------------- EQ/AllianceBernstein Small Cap Growth 0.86% ----------------------------------------------------------------------------- EQ/AllianceBernstein Value 0.62% ----------------------------------------------------------------------------- EQ/BlackRock Basic Value Equity 0.92% ----------------------------------------------------------------------------- EQ/Davis New York Venture 1.25% ----------------------------------------------------------------------------- EQ/Evergreen Omega 1.12% ----------------------------------------------------------------------------- EQ/GAMCO Mergers and Acquisitions 1.33% ----------------------------------------------------------------------------- EQ/GAMCO Small Company Value 1.10% ----------------------------------------------------------------------------- EQ/International Core PLUS 1.05% ----------------------------------------------------------------------------- EQ/Large Cap Core PLUS 0.83% ----------------------------------------------------------------------------- EQ/Large Cap Growth PLUS 0.82% ----------------------------------------------------------------------------- EQ/Legg Mason Value Equity 0.97% ----------------------------------------------------------------------------- EQ/Lord Abbett Growth and Income 0.98% ----------------------------------------------------------------------------- EQ/Lord Abbett Large Cap Core 0.99% ----------------------------------------------------------------------------- EQ/Lord Abbett Mid Cap Value 1.04% ----------------------------------------------------------------------------- EQ/Mid Cap Value PLUS 0.81% ----------------------------------------------------------------------------- EQ/Montag & Caldwell Growth 1.13% ----------------------------------------------------------------------------- EQ/T. Rowe Price Growth Stock 0.87% ----------------------------------------------------------------------------- EQ/UBS Growth and Income 1.04% ----------------------------------------------------------------------------- EQ/Van Kampen Comstock 0.99% ----------------------------------------------------------------------------- EQ/Van Kampen Mid Cap Growth 1.04% ----------------------------------------------------------------------------- (9) In addition to the fee waiver and/or expense reimbursement discussed in the footnote immediately above, AXA Equitable, voluntarily will waive all its management and adminis tration fees and reimburse all other expenses associated with the EQ/Franklin Templeton Founding Strategy Portfolio ("Portfolio") (exclusive of taxes, interest, brokerage commissions, capitalized expenses, expenses of the investment companies in which the Portfolio invests, Rule 12b-1 fees and extraordinary expenses). Accordingly, the Total Annual Operating Expenses (including Acquired Fund Fees and Expenses), taking into account the voluntary waiver by AXA Equitable, will be 1.30%. The voluntary waiver by AXA Equitable will remain in effect until April 30, 2009. EXAMPLES: EQUI-VEST(SM) STRATEGIES CONTRACTS These examples are intended to help you compare the cost of investing in the EQUI-VEST(SM) Strategies contract with the cost of investing in other variable annuity contracts. These costs include contract owner transaction expenses, contract fees, separate account annual expenses, and underlying Trust fees and expenses (including underlying portfolio fees and expenses). The examples below show the expenses that a hypothetical participant would pay in the situations illustrated. The examples use an average annual administrative charge based on charges paid in 2007, which results in an estimated annual charge of 0.0643% of account value. The fixed maturity options and the guaranteed interest option are not covered by the fee table and examples. However, the withdrawal charge, the enhanced death benefit charge, the third-party transfer or direct rollover charge and the charge if you elect a Variable Immediate Annuity payout option do apply to amounts in the fixed maturity options and the guaranteed interest option. A market value adjustment (up or down) will apply as a result of a withdrawal, transfer, or surrender of amounts from a fixed maturity option. Please note that the charges that would apply under your certificate may be lower if: (i) your participation is under a contract with lower Separate Account charges; (ii) your certificate has no withdrawal charge or no longer has a withdrawal charge, or has a lesser percentage withdrawal charge, or has a shorter withdrawal charge period associated with it than is used in the examples; or (iii) you have not elected the enhanced death benefit. These examples should not be considered a representation of past or future expenses for any option. 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. The examples assume that you invest $10,000 in the certificate for the time periods indicated and that your investment has a 5% return each year. The examples also assume (i) maximum contract charges rather than the lower current expenses discussed in "Charges and expenses" later in this prospectus; (ii) the total annual expenses of the portfolios (before expense limitations) set forth in the previous tables; and (iii) that the enhanced death benefit has been elected. Although your actual costs may be higher or lower, based on these assumptions, your costs would be: 13 Fee table
- ------------------------------------------------------------------------------------------------------ If you surrender your contract at the end of the applicable time period - ------------------------------------------------------------------------------------------------------ 1 year 3 years 5 years 10 years - ------------------------------------------------------------------------------------------------------ AXA PREMIER VIP TRUST: - ------------------------------------------------------------------------------------------------------ AXA Aggressive Allocation $ 864 $1,531 $2,223 $3,526 AXA Conservative Allocation $ 845 $1,475 $2,131 $3,341 AXA Conservative-Plus Allocation $ 850 $1,490 $2,155 $3,390 AXA Moderate Allocation $ 816 $1,387 $1,985 $3,041 AXA Moderate-Plus Allocation $ 858 $1,513 $2,194 $3,468 Multimanager Aggressive Equity $ 786 $1,297 $1,837 $2,731 Multimanager Core Bond $ 822 $1,404 $2,014 $3,101 Multimanager Health Care $ 888 $1,601 $2,337 $3,755 Multimanager High Yield $ 797 $1,330 $1,891 $2,846 Multimanager International Equity $ 868 $1,543 $2,242 $3,565 Multimanager Large Cap Core Equity $ 855 $1,504 $2,179 $3,439 Multimanager Large Cap Growth $ 857 $1,510 $2,189 $3,458 Multimanager Large Cap Value $ 852 $1,496 $2,165 $3,410 Multimanager Mid Cap Growth $ 875 $1,563 $2,275 $3,632 Multimanager Mid Cap Value $ 874 $1,560 $2,270 $3,623 Multimanager Small Cap Growth $ 877 $1,569 $2,285 $3,651 Multimanager Small Cap Value $ 866 $1,537 $2,232 $3,546 Multimanager Technology $ 888 $1,601 $2,337 $3,755 Target 2015 Allocation $ 980 $1,869 $2,770 $4,592 Target 2025 Allocation $ 951 $1,783 $2,632 $4,331 Target 2035 Allocation $1,047 $2,060 $3,071 $5,146 Target 2045 Allocation $1,090 $2,180 $3,259 $5,481 - ------------------------------------------------------------------------------------------------------ EQ ADVISORS TRUST: - ------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Common Stock $ 767 $1,241 $1,742 $2,530 EQ/AllianceBernstein Intermediate Government Securities $ 784 $1,291 $1,827 $2,710 EQ/AllianceBernstein International $ 810 $1,369 $1,955 $2,979 EQ/AllianceBernstein Large Cap Growth $ 848 $1,484 $2,146 $3,370 EQ/AllianceBernstein Quality Bond $ 785 $1,294 $1,832 $2,721 EQ/AllianceBernstein Small Cap Growth $ 808 $1,363 $1,946 $2,959 EQ/AllianceBernstein Value $ 792 $1,315 $1,867 $2,794 EQ/BlackRock Basic Value Equity $ 814 $1,381 $1,975 $3,020 EQ/BlackRock International Value $ 845 $1,475 $2,131 $3,341 EQ/Boston Advisors Equity Income $ 834 $1,443 $2,078 $3,232 EQ/Calvert Socially Responsible $ 833 $1,440 $2,073 $3,222 EQ/Capital Guardian Growth $ 826 $1,416 $2,034 $3,142 EQ/Capital Guardian Research $ 822 $1,404 $2,014 $3,101 EQ/Caywood-Scholl High Yield Bond $ 822 $1,404 $2,014 $3,101 EQ/Davis New York Venture $ 848 $1,484 $2,146 $3,370 EQ/Equity 500 Index $ 759 $1,217 $1,702 $2,444 EQ/Evergreen International Bond $ 832 $1,437 $2,068 $3,212 EQ/Evergreen Omega $ 835 $1,446 $2,083 $3,242 - ------------------------------------------------------------------------------------------------------ - -------------------------------------------------------------------------------------------------------------------------- If you annuitize at the end of the If you do not applicable time period and select a surrender your non-life contingent period certain contract at the end annuity option with less of the applicable than ten years(1) time period - -------------------------------------------------------------------------------------------------------------------------- 1 year 3 years 5 years 10 years 1 year 3 years - --------------------------------------------------------------------------------------------------------------------------- AXA PREMIER VIP TRUST: - --------------------------------------------------------------------------------------------------------------------------- AXA Aggressive Allocation N/A $1,531 $2,223 $3,526 $314 $ 960 AXA Conservative Allocation N/A $1,475 $2,131 $3,341 $294 $ 901 AXA Conservative-Plus Allocation N/A $1,490 $2,155 $3,390 $300 $ 917 AXA Moderate Allocation N/A $1,387 $1,985 $3,041 $263 $ 807 AXA Moderate-Plus Allocation N/A $1,513 $2,194 $3,468 $308 $ 942 Multimanager Aggressive Equity N/A $1,297 $1,837 $2,731 $231 $ 713 Multimanager Core Bond N/A $1,404 $2,014 $3,101 $269 $ 826 Multimanager Health Care N/A $1,601 $2,337 $3,755 $339 $1,035 Multimanager High Yield N/A $1,330 $1,891 $2,846 $243 $ 747 Multimanager International Equity N/A $1,543 $2,242 $3,565 $318 $ 973 Multimanager Large Cap Core Equity N/A $1,504 $2,179 $3,439 $305 $ 932 Multimanager Large Cap Growth N/A $1,510 $2,189 $3,458 $307 $ 938 Multimanager Large Cap Value N/A $1,496 $2,165 $3,410 $302 $ 923 Multimanager Mid Cap Growth N/A $1,563 $2,275 $3,632 $326 $ 994 Multimanager Mid Cap Value N/A $1,560 $2,270 $3,623 $325 $ 991 Multimanager Small Cap Growth N/A $1,569 $2,285 $3,651 $328 $1,001 Multimanager Small Cap Value N/A $1,537 $2,232 $3,546 $316 $ 966 Multimanager Technology N/A $1,601 $2,337 $3,755 $339 $1,035 Target 2015 Allocation N/A $1,869 $2,770 $4,592 $437 $1,319 Target 2025 Allocation N/A $1,783 $2,632 $4,331 $405 $1,228 Target 2035 Allocation N/A $2,060 $3,071 $5,146 $507 $1,521 Target 2045 Allocation N/A $2,180 $3,259 $5,481 $552 $1,649 - --------------------------------------------------------------------------------------------------------------------------- EQ ADVISORS TRUST: - --------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock N/A $1,241 $1,742 $2,530 $211 $ 653 EQ/AllianceBernstein Intermediate Government Securities N/A $1,291 $1,827 $2,710 $229 $ 706 EQ/AllianceBernstein International N/A $1,369 $1,955 $2,979 $256 $ 788 EQ/AllianceBernstein Large Cap Growth N/A $1,484 $2,146 $3,370 $297 $ 910 EQ/AllianceBernstein Quality Bond N/A $1,294 $1,832 $2,721 $230 $ 710 EQ/AllianceBernstein Small Cap Growth N/A $1,363 $1,946 $2,959 $254 $ 782 EQ/AllianceBernstein Value N/A $1,315 $1,867 $2,794 $238 $ 732 EQ/BlackRock Basic Value Equity N/A $1,381 $1,975 $3,020 $261 $ 801 EQ/BlackRock International Value N/A $1,475 $2,131 $3,341 $294 $ 901 EQ/Boston Advisors Equity Income N/A $1,443 $2,078 $3,232 $283 $ 867 EQ/Calvert Socially Responsible N/A $1,440 $2,073 $3,222 $282 $ 864 EQ/Capital Guardian Growth N/A $1,416 $2,034 $3,142 $273 $ 839 EQ/Capital Guardian Research N/A $1,404 $2,014 $3,101 $269 $ 826 EQ/Caywood-Scholl High Yield Bond N/A $1,404 $2,014 $3,101 $269 $ 826 EQ/Davis New York Venture N/A $1,484 $2,146 $3,370 $297 $ 910 EQ/Equity 500 Index N/A $1,217 $1,702 $2,444 $203 $ 627 EQ/Evergreen International Bond N/A $1,437 $2,068 $3,212 $281 $ 860 EQ/Evergreen Omega N/A $1,446 $2,083 $3,242 $284 $ 870 - --------------------------------------------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- If you do not surrender your the applicable time period - -------------------------------------------------------------------------------- 5 years 10 years - -------------------------------------------------------------------------------- AXA PREMIER VIP TRUST: - -------------------------------------------------------------------------------- AXA Aggressive Allocation $1,630 $3,418 AXA Conservative Allocation $1,533 $3,231 AXA Conservative-Plus Allocation $1,559 $3,280 AXA Moderate Allocation $1,378 $2,927 AXA Moderate-Plus Allocation $1,600 $3,359 Multimanager Aggressive Equity $1,220 $2,614 Multimanager Core Bond $1,409 $2,988 Multimanager Health Care $1,752 $3,650 Multimanager High Yield $1,278 $2,730 Multimanager International Equity $1,651 $3,457 Multimanager Large Cap Core Equity $1,584 $3,330 Multimanager Large Cap Growth $1,595 $3,349 Multimanager Large Cap Value $1,569 $3,300 Multimanager Mid Cap Growth $1,686 $3,525 Multimanager Mid Cap Value $1,681 $3,515 Multimanager Small Cap Growth $1,697 $3,544 Multimanager Small Cap Value $1,641 $3,438 Multimanager Technology $1,752 $3,650 Target 2015 Allocation $2,213 $4,496 Target 2025 Allocation $2,066 $4,232 Target 2035 Allocation $2,533 $5,056 Target 2045 Allocation $2,733 $5,396 - -------------------------------------------------------------------------------- EQ ADVISORS TRUST: - -------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock $1,120 $2,410 EQ/AllianceBernstein Intermediate Government Securities $1,210 $2,593 EQ/AllianceBernstein International $1,346 $2,865 EQ/AllianceBernstein Large Cap Growth $1,549 $3,260 EQ/AllianceBernstein Quality Bond $1,215 $2,603 EQ/AllianceBernstein Small Cap Growth $1,336 $2,844 EQ/AllianceBernstein Value $1,252 $2,677 EQ/BlackRock Basic Value Equity $1,367 $2,906 EQ/BlackRock International Value $1,533 $3,231 EQ/Boston Advisors Equity Income $1,476 $3,120 EQ/Calvert Socially Responsible $1,471 $3,110 EQ/Capital Guardian Growth $1,430 $3,029 EQ/Capital Guardian Research $1,409 $2,988 EQ/Caywood-Scholl High Yield Bond $1,409 $2,988 EQ/Davis New York Venture $1,549 $3,260 EQ/Equity 500 Index $1,077 $2,324 EQ/Evergreen International Bond $1,466 $3,100 EQ/Evergreen Omega $1,482 $3,130
Fee table 14
- ---------------------------------------------------------------------------------------------------------------------------------- If you annuitize at the end of the applicable time period and select a If you surrender your contract at the end non-life contingent period certain annuity of the applicable time period option with less than ten years(1) - ---------------------------------------------------------------------------------------------------------------------------------- 1 year 3 years 5 years 10 years 1 year 3 years 5 years 10 years - ---------------------------------------------------------------------------------------------------------------------------------- EQ ADVISORS TRUST: - ---------------------------------------------------------------------------------------------------------------------------------- EQ/FI Mid Cap $827 $1,419 $2,039 $3,152 N/A $1,419 $2,039 $3,152 EQ/Franklin Income $850 $1,490 $2,155 $3,390 N/A $1,490 $2,155 $3,390 EQ/Franklin Small Cap Value $853 $1,499 $2,170 $3,419 N/A $1,499 $2,170 $3,419 EQ/Franklin Templeton Founding Strategy $877 $1,569 $2,285 $3,651 N/A $1,569 $2,285 $3,651 EQ/GAMCO Mergers and Acquisitions $854 $1,502 $2,174 $3,429 N/A $1,502 $2,174 $3,429 EQ/GAMCO Small Company Value $833 $1,440 $2,073 $3,222 N/A $1,440 $2,073 $3,222 EQ/International Core PLUS $839 $1,457 $2,102 $3,282 N/A $1,457 $2,102 $3,282 EQ/International Growth $857 $1,510 $2,189 $3,458 N/A $1,510 $2,189 $3,458 EQ/JPMorgan Core Bond $802 $1,345 $1,916 $2,897 N/A $1,345 $1,916 $2,897 EQ/JPMorgan Value Opportunities $820 $1,398 $2,005 $3,081 N/A $1,398 $2,005 $3,081 EQ/Large Cap Core PLUS $823 $1,407 $2,019 $3,112 N/A $1,407 $2,019 $3,112 EQ/Large Cap Growth PLUS $822 $1,404 $2,014 $3,101 N/A $1,404 $2,014 $3,101 EQ/Legg Mason Value Equity $828 $1,422 $2,044 $3,162 N/A $1,422 $2,044 $3,162 EQ/Long Term Bond $799 $1,336 $1,901 $2,866 N/A $1,336 $1,901 $2,866 EQ/Lord Abbett Growth and Income $827 $1,419 $2,039 $3,152 N/A $1,419 $2,039 $3,152 EQ/Lord Abbett Large Cap Core $831 $1,434 $2,063 $3,202 N/A $1,434 $2,063 $3,202 EQ/Lord Abbett Mid Cap Value $830 $1,431 $2,058 $3,192 N/A $1,431 $2,058 $3,192 EQ/Marsico Focus $843 $1,469 $2,121 $3,321 N/A $1,469 $2,121 $3,321 EQ/Mid Cap Value PLUS $827 $1,419 $2,039 $3,152 N/A $1,419 $2,039 $3,152 EQ/Money Market $762 $1,226 $1,717 $2,477 N/A $1,226 $1,717 $2,477 EQ/Montag & Caldwell Growth $835 $1,446 $2,083 $3,242 N/A $1,446 $2,083 $3,242 EQ/Mutual Shares $856 $1,507 $2,184 $3,449 N/A $1,507 $2,184 $3,449 EQ/Oppenheimer Global $892 $1,613 $2,356 $3,793 N/A $1,613 $2,356 $3,793 EQ/Oppenheimer Main Street Opportunity $876 $1,566 $2,280 $3,642 N/A $1,566 $2,280 $3,642 EQ/Oppenheimer Main Street Small Cap $884 $1,589 $2,318 $3,718 N/A $1,589 $2,318 $3,718 EQ/PIMCO Real Return $815 $1,384 $1,980 $3,030 N/A $1,384 $1,980 $3,030 EQ/Short Duration Bond $804 $1,351 $1,926 $2,918 N/A $1,351 $1,926 $2,918 EQ/Small Company Index $785 $1,294 $1,832 $2,721 N/A $1,294 $1,832 $2,721 EQ/T. Rowe Price Growth Stock $838 $1,454 $2,097 $3,272 N/A $1,454 $2,097 $3,272 EQ/Templeton Growth $860 $1,519 $2,203 $3,488 N/A $1,519 $2,203 $3,488 EQ/UBS Growth and Income $836 $1,449 $2,087 $3,252 N/A $1,449 $2,087 $3,252 EQ/Van Kampen Comstock $826 $1,416 $2,034 $3,142 N/A $1,416 $2,034 $3,142 EQ/Van Kampen Emerging Markets Equity $884 $1,589 $2,318 $3,718 N/A $1,589 $2,318 $3,718 EQ/Van Kampen Mid Cap Growth $830 $1,431 $2,058 $3,192 N/A $1,431 $2,058 $3,192 EQ/Van Kampen Real Estate $856 $1,507 $2,184 $3,449 N/A $1,507 $2,184 $3,449 - ---------------------------------------------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------- If you do not surrender your contract at the end of the applicable time period - ------------------------------------------------------------------------------------- 1 year 3 years 5 years 10 years - ------------------------------------------------------------------------------------- EQ ADVISORS TRUST: - ------------------------------------------------------------------------------------- EQ/FI Mid Cap $274 $ 842 $1,435 $3,039 EQ/Franklin Income $300 $ 917 $1,559 $3,280 EQ/Franklin Small Cap Value $303 $ 926 $1,574 $3,310 EQ/Franklin Templeton Founding Strategy $328 $1,001 $1,697 $3,544 EQ/GAMCO Mergers and Acquisitions $304 $ 929 $1,579 $3,320 EQ/GAMCO Small Company Value $282 $ 864 $1,471 $3,110 EQ/International Core PLUS $288 $ 882 $1,502 $3,171 EQ/International Growth $307 $ 938 $1,595 $3,349 EQ/JPMorgan Core Bond $248 $ 763 $1,305 $2,782 EQ/JPMorgan Value Opportunities $267 $ 820 $1,399 $2,968 EQ/Large Cap Core PLUS $270 $ 829 $1,414 $2,999 EQ/Large Cap Growth PLUS $269 $ 826 $1,409 $2,988 EQ/Legg Mason Value Equity $275 $ 845 $1,440 $3,049 EQ/Long Term Bond $245 $ 754 $1,289 $2,751 EQ/Lord Abbett Growth and Income $274 $ 842 $1,435 $3,039 EQ/Lord Abbett Large Cap Core $280 $ 857 $1,461 $3,090 EQ/Lord Abbett Mid Cap Value $279 $ 854 $1,456 $3,080 EQ/Marsico Focus $292 $ 895 $1,523 $3,211 EQ/Mid Cap Value PLUS $274 $ 842 $1,435 $3,039 EQ/Money Market $206 $ 637 $1,093 $2,356 EQ/Montag & Caldwell Growth $284 $ 870 $1,482 $3,130 EQ/Mutual Shares $306 $ 935 $1,590 $3,340 EQ/Oppenheimer Global $344 $1,047 $1,772 $3,688 EQ/Oppenheimer Main Street Opportunity $327 $ 997 $1,692 $3,535 EQ/Oppenheimer Main Street Small Cap $335 $1,022 $1,732 $3,612 EQ/PIMCO Real Return $262 $ 804 $1,373 $2,917 EQ/Short Duration Bond $250 $ 769 $1,315 $2,803 EQ/Small Company Index $230 $ 710 $1,215 $2,603 EQ/T. Rowe Price Growth Stock $287 $ 879 $1,497 $3,161 EQ/Templeton Growth $310 $ 948 $1,610 $3,379 EQ/UBS Growth and Income $285 $ 873 $1,487 $3,140 EQ/Van Kampen Comstock $273 $ 839 $1,430 $3,029 EQ/Van Kampen Emerging Markets Equity $335 $1,022 $1,732 $3,612 EQ/Van Kampen Mid Cap Growth $279 $ 854 $1,456 $3,080 EQ/Van Kampen Real Estate $306 $ 935 $1,590 $3,340 - -------------------------------------------------------------------------------------
(1) If a non-life contingent period certain annuity option of ten years or more is chosen, a withdrawal charge would still apply if the annuity option is chosen before three participation years have elapsed. 15 Fee table CONDENSED FINANCIAL INFORMATION Please see Appendix I at the end of this prospectus for information about the unit values and number of units outstanding as of the period shown for each of the variable investment options available as of December 31, 2007. Fee table 16 1. Contract features and benefits - -------------------------------------------------------------------------------- CONTRIBUTIONS TO YOUR CERTIFICATE Payments made to us are called "contributions." We require a minimum contribution amount of $20. If the total annual contributions to a TSA contract will be at least $200 annually, we may accept contributions of less than $20. The following table summarizes our rules regarding contributions to your certificate. - -------------------------------------------------------------------------------- Contract type Source of contributions - -------------------------------------------------------------------------------- TSA o Employer-remitted employee salary reduction and/or various types of employer contributions. o Additional "catch-up" contributions. o "Designated Roth contributions" under Section 402A of the Code. o Only if plan permits, direct plan-to-plan transfers from another 403(b) plan or contract exchanges from another 403(b) contract under the same plan. o Only if plan permits, eligible rollover distributions from other 403(b) plans, qualified plans, governmental employer 457(b) EDC plans and traditional IRAs. - -------------------------------------------------------------------------------- Governmental o Employer-remitted employee salary reduction and/or Employer EDC employer contributions. o Additional "age 50 catch-up" contributions. o If the plan permits, eligible rollover distributions from other governmental employer 457(b) EDC plans, 403(b) plans, qualified plans and traditional IRAs. - -------------------------------------------------------------------------------- Contract type Limitations on contributions - -------------------------------------------------------------------------------- TSA o For 2008, maximum amount of employer and employee contributions is generally the lesser of $46,000 or 100% of compensation, with maximum salary reduction contribution of $15,500. o If employer's plan permits, an individual at least age 50 at any time during 2008 can make up to $5,000 additional salary reduction "catch-up" contributions. o All salary reduction contributions (whether pre-tax or desig- nated Roth) may not exceed the total maximum ($15,500 in 2008 and age 50 catch-up of $5,000). o Rollover or direct transfer contributions after age 70-1/2 must be net of any required minimum distributions. o Different sources of contributions and earnings may be subject to withdrawal restrictions. o We currently do not accept rollovers or direct transfers of funds from designated Roth accounts. - -------------------------------------------------------------------------------- Governmental o Contributions subject to plan limits. Maximum contribution Employer EDC for 2008 is lesser of $15,500 or 100% of includible com- pensation. o If plan permits, an individual may make catch-up contribu- tions for 3 years of service preceding plan retirement age; 2008 maximum is $31,000. o If governmental employer 457(b) EDC plan permits, an indi- vidual at least age 50 at any time during 2008 can make up to $5,000 additional salary reduction "catch-up" contribu- tions. This must be coordinated with the "catch-up" contributions for 3 years of service preceding plan retire- ment age. - -------------------------------------------------------------------------------- See "Tax information" later in this prospectus for a more detailed discussion of sources of contributions, certain contribution limitations and other tax information. For information on when contributions are credited see "Dates and prices at which contract events occur" under "More information" later in this prospectus. 17 Contract features and benefits HOW EQUI-VEST(SM) STRATEGIES IS AVAILABLE The contract is offered to fund certain TSA and EDC plans. The plan trustee or the employer will be the EQUI-VEST(SM) Strategies contract holder and participants under the plans will be covered by the contract. The maximum issue age for the participant is 75. HOW CONTRIBUTIONS CAN BE MADE Except as noted below, contributions must be made by check drawn on a U.S. bank, in U.S. dollars and made payable to "AXA Equitable." We do not accept third-party checks endorsed to us except for rollover contributions, or trustee checks that involve no refund. All checks are subject to our ability to collect the funds. We reserve the right to reject a payment if it is received in an unacceptable form. Your initial contribution must be preceded by an enrollment form and any other form we need to process the contribution. If any information is missing or unclear we will hold the contribution, whether received via check or wire, in a non-interest bearing suspense account while we try to obtain that information. If we are unable to obtain all the information we require within five business days after we receive an incomplete enrollment form, we will inform the financial professional submitting the enrollment form on your behalf. We will then return the contribution to your employer unless you specifically direct us to keep your contribution until we receive the required information. - -------------------------------------------------------------------------------- Our "business day" is generally any day the New York Stock Exchange is open for regular trading and generally ends at 4:00 p.m. Eastern Time (or as of an earlier close of regular trading). A business day does not include a day on which we are not open due to emergency conditions determined by the Securities and Exchange Commission. We may also close early due to such emergency conditions. For more information about our business day and our pricing of transactions, please see "Dates and prices at which contract events occur." - -------------------------------------------------------------------------------- WHAT ARE YOUR INVESTMENT OPTIONS UNDER THE CONTRACT? Your investment options, subject to any employer plan limitations, are the variable investment options, the guaranteed interest option, and the fixed maturity options available under the investment method you or your employer selects (see "Selecting your investment method," later in this prospectus). VARIABLE INVESTMENT OPTIONS Your investment results in any one of the variable investment options will depend on the investment performance of the underlying portfolios. You can lose your principal when investing in the variable investment options. In periods of poor market performance, the net return, after charges and expenses, may result in negative yields, including for the EQ/Money Market variable investment option. Listed below are the currently available portfolios, their investment objectives and their advisers. - -------------------------------------------------------------------------------- You can choose from among the variable investment options, the guaranteed interest option and fixed maturity options, subject to certain restrictions and your employer's plan limitations. - -------------------------------------------------------------------------------- Contract features and benefits 18 PORTFOLIOS OF THE TRUSTS The AXA Allocation Portfolios and the EQ/Franklin Templeton Founding Strategy Portfolio offer contract owners a convenient opportunity to invest in other portfolios that are managed and have been selected for inclusion in the AXA Allocation Portfolios and the EQ/Franklin Templeton Founding Strategy Portfolio by AXA Equitable. AXA Advisors, LLC, an affiliated broker-dealer of AXA Equitable, may promote the benefits of such portfolios to contract owners and/or suggest, incidental to the sale of this contract, that contract owners consider whether allocating some or all of their account value to such portfolios is consistent with their desired investment objectives. In doing so, AXA Equitable, and/or its affiliates, may be subject to conflicts of interest insofar as AXA Equitable may derive greater revenues from the AXA Allocation Portfolios and the EQ/Franklin Templeton Founding Strategy Portfolio than certain other portfolios available to you under your contract. In addition, due to the relative diversification of the underlying portfolios covering various asset classes and categories, the AXA Allocation Portfolios and the EQ/Franklin Templeton Founding Strategy Portfolio may enable AXA Equitable to more efficiently manage AXA Equitable's financial risks associated with certain guaranteed features. Please see "Allocating your contributions" later in this section for more information about your role in managing your allocations. AXA Equitable serves as the investment manager of the portfolios of AXA Premier VIP Trust and EQ Advisors Trust. For some portfolios, AXA Equitable has entered into sub-advisory agreements with investment advisers (the "sub-advisers") to carry out the day-to-day investment decisions for the portfolios. As such, AXA Equitable oversees the activities of the sub-advisers with respect to the Trusts and is responsible for retaining or discontinuing the services of those sub-advisers. The chart below indicates the objective and investment manager or sub-adviser(s), as applicable, for each portfolio. - -------------------------------------------------------------------------------- AXA Premier VIP Trust Portfolio Name Objective - -------------------------------------------------------------------------------- AXA AGGRESSIVE ALLOCATION Seeks long-term capital appreciation. - -------------------------------------------------------------------------------- AXA CONSERVATIVE ALLOCATION Seeks a high level of current income. - -------------------------------------------------------------------------------- AXA CONSERVATIVE-PLUS Seeks current income and growth of capital, with ALLOCATION a greater emphasis on current income. - -------------------------------------------------------------------------------- AXA MODERATE ALLOCATION Seeks long-term capital appreciation and current income. - -------------------------------------------------------------------------------- AXA MODERATE-PLUS Seeks long-term capital appreciation and current ALLOCATION income, with a greater emphasis on capital appreciation. - -------------------------------------------------------------------------------- MULTIMANAGER AGGRESSIVE Long-term growth of capital. EQUITY - -------------------------------------------------------------------------------- MULTIMANAGER CORE BOND To seek a balance of high current income and capital appreciation, consistent with a prudent level of risk. - -------------------------------------------------------------------------------- MULTIMANAGER HEALTH CARE Long-term growth of capital. - -------------------------------------------------------------------------------- MULTIMANAGER HIGH YIELD High total return through a combination of current income and capital appreciation. - -------------------------------------------------------------------------------- MULTIMANAGER INTERNATIONAL Long-term growth of capital. EQUITY - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- AXA Premier VIP Trust Investment Manager (or Sub-Adviser(s), as Portfolio Name applicable) - -------------------------------------------------------------------------------- AXA AGGRESSIVE ALLOCATION o AXA Equitable - -------------------------------------------------------------------------------- AXA CONSERVATIVE ALLOCATION o AXA Equitable - -------------------------------------------------------------------------------- AXA CONSERVATIVE-PLUS o AXA Equitable ALLOCATION - -------------------------------------------------------------------------------- AXA MODERATE ALLOCATION o AXA Equitable - -------------------------------------------------------------------------------- AXA MODERATE-PLUS o AXA Equitable ALLOCATION - -------------------------------------------------------------------------------- MULTIMANAGER AGGRESSIVE o AllianceBernstein L.P. EQUITY o ClearBridge Advisors, LLC o Legg Mason Capital Management, Inc. o Marsico Capital Management, LLC - -------------------------------------------------------------------------------- MULTIMANAGER CORE BOND o BlackRock Financial Management, Inc. o Pacific Investment Management Company LLC - -------------------------------------------------------------------------------- MULTIMANAGER HEALTH CARE o Invesco Aim Capital Management, Inc. o RCM Capital Management LLC o Wellington Management Company, LLP - -------------------------------------------------------------------------------- MULTIMANAGER HIGH YIELD o Pacific Investment Management Company LLC o Post Advisory Group, LLC - -------------------------------------------------------------------------------- MULTIMANAGER INTERNATIONAL o AllianceBernstein L.P. EQUITY o JPMorgan Investment Management Inc. o Marsico Capital Management, LLC - -------------------------------------------------------------------------------- 19 Contract features and benefits - -------------------------------------------------------------------------------- AXA Premier VIP Trust Portfolio Name Objective - -------------------------------------------------------------------------------- MULTIMANAGER LARGE CAP Long-term growth of capital. CORE EQUITY - -------------------------------------------------------------------------------- MULTIMANAGER LARGE CAP Long-term growth of capital. GROWTH - -------------------------------------------------------------------------------- MULTIMANAGER LARGE CAP Long-term growth of capital. VALUE - -------------------------------------------------------------------------------- MULTIMANAGER MID CAP Long-term growth of capital. GROWTH - -------------------------------------------------------------------------------- MULTIMANAGER MID CAP VALUE Long-term growth of capital. - -------------------------------------------------------------------------------- MULTIMANAGER SMALL CAP Long-term growth of capital. GROWTH - -------------------------------------------------------------------------------- MULTIMANAGER SMALL CAP Long-term growth of capital. VALUE - -------------------------------------------------------------------------------- MULTIMANAGER TECHNOLOGY Long-term growth of capital. - -------------------------------------------------------------------------------- TARGET 2015 ALLOCATION Seeks the highest total return over time consistent with its asset mix. Total return includes capital growth and income. - -------------------------------------------------------------------------------- TARGET 2025 ALLOCATION Seeks the highest total return over time consistent with its asset mix. Total return includes capital growth and income. - -------------------------------------------------------------------------------- TARGET 2035 ALLOCATION Seeks the highest total return over time consistent with its asset mix. Total return includes capital growth and income. - -------------------------------------------------------------------------------- TARGET 2045 ALLOCATION Seeks the highest total return over time consistent with its asset mix. Total return includes capital growth and income. - -------------------------------------------------------------------------------- EQ Advisors Trust Portfolio Name Objective - -------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN COM- Seeks to achieve long-term growth of capital. MON STOCK - -------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN INTER- Seeks to achieve high current income consistent MEDIATE GOVERNMENT with relative stability of principal. SECURITIES - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- AXA Premier VIP Trust Investment Manager (or Sub-Adviser(s), as Portfolio Name applicable) - -------------------------------------------------------------------------------- MULTIMANAGER LARGE CAP o AllianceBernstein L.P. CORE EQUITY o Janus Capital Management LLC o Thornburg Investment Management, Inc. - -------------------------------------------------------------------------------- MULTIMANAGER LARGE CAP o RCM Capital Management LLC GROWTH o TCW Investment Management Company o T. Rowe Price Associates, Inc. - -------------------------------------------------------------------------------- MULTIMANAGER LARGE CAP o AllianceBernstein L.P. VALUE o Institutional Capital LLC o MFS Investment Management - -------------------------------------------------------------------------------- MULTIMANAGER MID CAP o AllianceBernstein L.P. GROWTH o Franklin Advisers, Inc. o Provident Investment Counsel, Inc. - -------------------------------------------------------------------------------- MULTIMANAGER MID CAP VALUE o AXA Rosenberg Investment Management LLC o TCW Investment Management Company o Wellington Management Company, LLP - -------------------------------------------------------------------------------- MULTIMANAGER SMALL CAP o Eagle Asset Management, Inc. GROWTH o Wells Capital Management Inc. - -------------------------------------------------------------------------------- MULTIMANAGER SMALL CAP o Franklin Advisory Services, LLC VALUE o Lazard Asset Management LLC - -------------------------------------------------------------------------------- MULTIMANAGER TECHNOLOGY o Firsthand Capital Management, Inc. o RCM Capital Management LLC o Wellington Management Company, LLP - -------------------------------------------------------------------------------- TARGET 2015 ALLOCATION o AXA Equitable - -------------------------------------------------------------------------------- TARGET 2025 ALLOCATION o AXA Equitable - -------------------------------------------------------------------------------- TARGET 2035 ALLOCATION o AXA Equitable - -------------------------------------------------------------------------------- TARGET 2045 ALLOCATION o AXA Equitable - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- EQ Advisors Trust Investment Manager (or Sub-Adviser(s), as Portfolio Name applicable) - -------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN COM- o AllianceBernstein L.P. MON STOCK - -------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN INTER- o AllianceBernstein L.P. MEDIATE GOVERNMENT SECURITIES - -------------------------------------------------------------------------------- Contract features and benefits 20 - -------------------------------------------------------------------------------- EQ Advisors Trust Portfolio Name Objective - -------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN INTER- Seeks to achieve long-term growth of capital. NATIONAL - -------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN LARGE Seeks to achieve long-term growth of capital. CAP GROWTH - -------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN QUALITY Seeks to achieve high current income consistent BOND with moderate risk to capital. - -------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN SMALL Seeks to achieve long-term growth of capital. CAP GROWTH - -------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN VALUE Seeks to achieve capital appreciation. - -------------------------------------------------------------------------------- EQ/BLACKROCK BASIC VALUE Seeks to achieve capital appreciation and EQUITY secondarily, income. - -------------------------------------------------------------------------------- EQ/BLACKROCK INTERNATIONAL Seeks to provide current income and long-term growth of VALUE income, accompanied by growth of capital. - -------------------------------------------------------------------------------- EQ/BOSTON ADVISORS EQUITY Seeks to achieve a combination of growth and INCOME income to achieve an above-average and consistent total return. - -------------------------------------------------------------------------------- EQ/CALVERT SOCIALLY Seeks to achieve long-term capital appreciation. RESPONSIBLE - -------------------------------------------------------------------------------- EQ/CAPITAL GUARDIAN GROWTH Seeks to achieve long-term growth of capital. - -------------------------------------------------------------------------------- EQ/CAPITAL GUARDIAN Seeks to achieve long-term growth of capital. RESEARCH - -------------------------------------------------------------------------------- EQ/CAYWOOD-SCHOLL HIGH Seeks to maximize current income. YIELD BOND - -------------------------------------------------------------------------------- EQ/DAVIS NEW YORK VENTURE Seeks to achieve long-term growth of capital. - -------------------------------------------------------------------------------- EQ/EQUITY 500 INDEX Seeks to achieve a total return before expenses that approximates the total return performance of the S&P 500 Index, including reinvestment of dividends, at a risk level consistent with that of the S&P 500 Index. - -------------------------------------------------------------------------------- EQ/EVERGREEN INTERNATIONAL Seeks to achieve capital growth and current BOND income. - -------------------------------------------------------------------------------- EQ/EVERGREEN OMEGA Seeks to achieve long-term capital growth. - -------------------------------------------------------------------------------- EQ/FI MID CAP Seeks to achieve long-term growth of capital. - -------------------------------------------------------------------------------- EQ/FRANKLIN INCOME Seeks to maximize income while maintaining prospects for capital appreciation. - -------------------------------------------------------------------------------- EQ/FRANKLIN SMALL CAP VALUE Seeks to achieve long-term total return. - -------------------------------------------------------------------------------- EQ/FRANKLIN TEMPLETON Primarily seeks capital appreciation and FOUNDING STRATEGY secondarily seeks income. - -------------------------------------------------------------------------------- EQ/GAMCO MERGERS AND Seeks to achieve capital appreciation. ACQUISITIONS - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- EQ Advisors Trust Investment Manager (or Sub-Adviser(s), as Portfolio Name applicable) - -------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN INTER- o AllianceBernstein L.P. NATIONAL - -------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN LARGE o AllianceBernstein L.P. CAP GROWTH - -------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN QUALITY o AllianceBernstein L.P. BOND - -------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN SMALL o AllianceBernstein L.P. CAP GROWTH - -------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN VALUE o AllianceBernstein L.P. - -------------------------------------------------------------------------------- EQ/BLACKROCK BASIC VALUE o BlackRock Investment Management, LLC EQUITY - -------------------------------------------------------------------------------- EQ/BLACKROCK INTERNATIONAL o BlackRock Investment Management International VALUE Limited - -------------------------------------------------------------------------------- EQ/BOSTON ADVISORS EQUITY o Boston Advisors, LLC INCOME - -------------------------------------------------------------------------------- EQ/CALVERT SOCIALLY o Calvert Asset Management Company, Inc. RESPONSIBLE o Bridgeway Capital Management, Inc. - -------------------------------------------------------------------------------- EQ/CAPITAL GUARDIAN GROWTH o Capital Guardian Trust Company - -------------------------------------------------------------------------------- EQ/CAPITAL GUARDIAN o Capital Guardian Trust Company RESEARCH - -------------------------------------------------------------------------------- EQ/CAYWOOD-SCHOLL HIGH o Caywood-Scholl Capital Management YIELD BOND - -------------------------------------------------------------------------------- EQ/DAVIS NEW YORK VENTURE o Davis Selected Advisers, L.P. - -------------------------------------------------------------------------------- EQ/EQUITY 500 INDEX o AllianceBernstein L.P. - -------------------------------------------------------------------------------- EQ/EVERGREEN INTERNATIONAL o Evergreen Investment Management BOND Company, LLC o First International Advisors, LLC (dba "Evergreen International") - -------------------------------------------------------------------------------- EQ/EVERGREEN OMEGA o Evergreen Investment Management Company, LLC - -------------------------------------------------------------------------------- EQ/FI MID CAP o Fidelity Management & Research Company - -------------------------------------------------------------------------------- EQ/FRANKLIN INCOME o Franklin Advisers, Inc. - -------------------------------------------------------------------------------- EQ/FRANKLIN SMALL CAP VALUE o Franklin Advisory Services, LLC - -------------------------------------------------------------------------------- EQ/FRANKLIN TEMPLETON o AXA Equitable FOUNDING STRATEGY - -------------------------------------------------------------------------------- EQ/GAMCO MERGERS AND o GAMCO Asset Management Inc. ACQUISITIONS - -------------------------------------------------------------------------------- 21 Contract features and benefits - -------------------------------------------------------------------------------- EQ Advisors Trust Portfolio Name Objective - -------------------------------------------------------------------------------- EQ/GAMCO SMALL COMPANY Seeks to maximize capital appreciation. VALUE - -------------------------------------------------------------------------------- EQ/INTERNATIONAL CORE PLUS Seeks to achieve long-term growth of capital. - -------------------------------------------------------------------------------- EQ/INTERNATIONAL GROWTH Seeks to achieve capital appreciation. - -------------------------------------------------------------------------------- EQ/JPMORGAN CORE BOND Seeks to provide a high total return consistent with moderate risk to capital and maintenance of liquidity. - -------------------------------------------------------------------------------- EQ/JPMORGAN VALUE Seeks to achieve long-term capital appreciation. OPPORTUNITIES - -------------------------------------------------------------------------------- EQ/LARGE CAP CORE PLUS Seeks to achieve long-term growth of capital with a sec- ondary objective to seek reasonable current income. For purposes of this Portfolio, the words "reasonable current income" mean moderate income. - -------------------------------------------------------------------------------- EQ/LARGE CAP GROWTH PLUS Seeks to provide long-term capital growth - -------------------------------------------------------------------------------- EQ/LEGG MASON VALUE EQUITY Seeks to achieve long-term growth of capital. - -------------------------------------------------------------------------------- EQ/LONG TERM BOND Seeks to maximize income and capital appreciation through investment in long-maturity debt obligations. - -------------------------------------------------------------------------------- EQ/LORD ABBETT GROWTH AND Seeks to achieve capital appreciation and growth INCOME of income without excessive fluctuation in market value. - -------------------------------------------------------------------------------- EQ/LORD ABBETT LARGE CAP Seeks to achieve capital appreciation and growth CORE of income with reasonable risk. - -------------------------------------------------------------------------------- EQ/LORD ABBETT MID CAP VALUE Seeks to achieve capital appreciation. - -------------------------------------------------------------------------------- EQ/MARSICO Seeks to achieve long-term growth of capital. FOCUS - -------------------------------------------------------------------------------- EQ/MID CAP VALUE PLUS Seeks to achieve long-term capital appreciation. - -------------------------------------------------------------------------------- EQ/MONEY MARKET Seeks to obtain a high level of current income, preserve its assets and maintain liquidity. - -------------------------------------------------------------------------------- EQ/MONTAG & CALDWELL Seeks to achieve capital appreciation. GROWTH - -------------------------------------------------------------------------------- EQ/MUTUAL SHARES Seeks to achieve capital appreciation, which may occasionally be short-term, and secondarily, income. - -------------------------------------------------------------------------------- EQ/OPPENHEIMER GLOBAL Seeks to achieve capital appreciation. - -------------------------------------------------------------------------------- EQ/OPPENHEIMER MAIN Seeks to achieve long-term capital appreciation. STREET OPPORTUNITY - -------------------------------------------------------------------------------- EQ/OPPENHEIMER MAIN STREET Seeks to achieve capital appreciation. SMALL CAP - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- EQ Advisors Trust Investment Manager (or Sub-Adviser(s), as Portfolio Name applicable) - -------------------------------------------------------------------------------- EQ/GAMCO SMALL COMPANY o GAMCO Asset Management Inc. VALUE - -------------------------------------------------------------------------------- EQ/INTERNATIONAL CORE PLUS o AXA Equitable - -------------------------------------------------------------------------------- o Mellon Capital Management Corporation - -------------------------------------------------------------------------------- o Wentworth Hauser and Violich, Inc. - -------------------------------------------------------------------------------- EQ/INTERNATIONAL GROWTH o MFS Investment Management, Inc. - -------------------------------------------------------------------------------- EQ/JPMORGAN CORE BOND o JPMorgan Investment Management Inc. - -------------------------------------------------------------------------------- EQ/JPMORGAN VALUE o JPMorgan Investment Management Inc. OPPORTUNITIES - -------------------------------------------------------------------------------- EQ/LARGE CAP CORE PLUS o AXA Equitable o Institutional Capital LLC o Mellon Capital Management Corporation - -------------------------------------------------------------------------------- EQ/LARGE CAP GROWTH PLUS o AXA Equitable o Marsico Capital Management, LLC o Mellon Capital Management Corporation - -------------------------------------------------------------------------------- EQ/LEGG MASON VALUE EQUITY o Legg Mason Capital Management, Inc. - -------------------------------------------------------------------------------- EQ/LONG TERM BOND o BlackRock Financial Management, Inc. - -------------------------------------------------------------------------------- EQ/LORD ABBETT GROWTH AND o Lord, Abbett & Co. LLC INCOME - -------------------------------------------------------------------------------- EQ/LORD ABBETT LARGE CAP o Lord, Abbett & Co. LLC CORE - -------------------------------------------------------------------------------- EQ/LORD ABBETT MID CAP VALUE o Lord, Abbett & Co. LLC - -------------------------------------------------------------------------------- EQ/MARSICO FOCUS o Marsico Capital Management, LLC - -------------------------------------------------------------------------------- EQ/MID CAP VALUE PLUS o AXA Equitable o Mellon Capital Management Corporation o Wellington Management Company LLP - -------------------------------------------------------------------------------- EQ/MONEY MARKET o The Dreyfus Corporation - -------------------------------------------------------------------------------- EQ/MONTAG & CALDWELL o Montag & Caldwell, Inc. GROWTH - -------------------------------------------------------------------------------- EQ/MUTUAL SHARES o Franklin Mutual Advisers, LLC - -------------------------------------------------------------------------------- EQ/OPPENHEIMER GLOBAL o OppenheimerFunds, Inc. - -------------------------------------------------------------------------------- EQ/OPPENHEIMER MAIN STREET o OppenheimerFunds, Inc. OPPORTUNITY - -------------------------------------------------------------------------------- EQ/OPPENHEIMER MAIN STREET o OppenheimerFunds, Inc. SMALL CAP Contract features and benefits 22 - -------------------------------------------------------------------------------- EQ Advisors Trust Portfolio Name Objective - -------------------------------------------------------------------------------- EQ/PIMCO REAL RETURN Seeks to achieve maximum real return consistent with preservation of real capital and prudent investment man- agement. - -------------------------------------------------------------------------------- EQ/SHORT DURATION BOND Seeks to achieve current income with reduced volatility of principal. - -------------------------------------------------------------------------------- EQ/SMALL COMPANY INDEX Seeks to replicate as closely as possible (before the deduction of Portfolio expenses) the total return of the Russell 2000 Index. - -------------------------------------------------------------------------------- EQ/T. ROWE PRICE GROWTH Seeks to achieve long-term capital appreciation STOCK and secondarily, income. - -------------------------------------------------------------------------------- EQ/TEMPLETON GROWTH Seeks to achieve long-term capital growth. - -------------------------------------------------------------------------------- EQ/UBS GROWTH AND Seeks to achieve total return through capital INCOME appreciation with income as a secondary consideration. - -------------------------------------------------------------------------------- EQ/VAN KAMPEN COMSTOCK Seeks to achieve capital growth and income. - -------------------------------------------------------------------------------- EQ/VAN KAMPEN EMERGING Seeks to achieve long-term capital appreciation. MARKETS EQUITY - -------------------------------------------------------------------------------- EQ/VAN KAMPEN MID CAP Seeks to achieve capital growth. GROWTH - -------------------------------------------------------------------------------- EQ/VAN KAMPEN REAL ESTATE Seeks to provide above average current income and long-term capital appreciation. - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- EQ Advisors Trust Investment Manager (or Sub-Adviser(s), as Portfolio Name applicable) - -------------------------------------------------------------------------------- EQ/PIMCO REAL RETURN o Pacific Investment Management Company, LLC - -------------------------------------------------------------------------------- EQ/SHORT DURATION BOND o BlackRock Financial Management, Inc. - -------------------------------------------------------------------------------- EQ/SMALL COMPANY INDEX o AllianceBernstein L.P. - -------------------------------------------------------------------------------- EQ/T. ROWE PRICE GROWTH o T. Rowe Price Associates, Inc. STOCK - -------------------------------------------------------------------------------- EQ/TEMPLETON GROWTH o Templeton Global Advisors Limited - -------------------------------------------------------------------------------- EQ/UBS GROWTH AND INCOME o UBS Global Asset Management (Americas) Inc. - -------------------------------------------------------------------------------- EQ/VAN KAMPEN COMSTOCK o Morgan Stanley Investment Management Inc. - -------------------------------------------------------------------------------- EQ/VAN KAMPEN EMERGING o Morgan Stanley Investment Management Inc. MARKETS EQUITY - -------------------------------------------------------------------------------- EQ/VAN KAMPEN MID CAP o Morgan Stanley Investment Management Inc. GROWTH - -------------------------------------------------------------------------------- EQ/VAN KAMPEN REAL ESTATE o Morgan Stanley Investment Management Inc. You should consider the investment objectives, risks and charges and expenses of the portfolios carefully before investing. The prospectuses for the Trusts contain this and other important information about the portfolios. The prospectuses should be read carefully before investing. 23 Contract features and benefits GUARANTEED INTEREST OPTION The guaranteed interest option is part of our general account and pays interest at guaranteed rates. We discuss our general account in "More information," later in this prospectus. We credit interest daily to amounts in the guaranteed interest option. There are three levels of interest in effect at the same time in the guaranteed interest option: (1) the minimum interest rate guaranteed over the life of the certificate, (2) the annual minimum guaranteed interest rate for the calendar year, and (3) the current interest rate. We set current interest rates periodically, according to our procedures that we have in effect at the time. All interest rates are effective annual rates, but before deduction of annual administrative charges or any withdrawal charges. We assign an interest rate to each amount allocated to the guaranteed interest option. This rate is guaranteed for a specified period. The annual minimum guaranteed interest rate for 2008 is 3.00%. The lifetime minimum guaranteed interest rate can range from 1.00% to 3.00% depending on the calendar year in which your certificate is issued. The lifetime minimum guaranteed interest rate is shown in your certificate. The annual minimum guaranteed interest rate will never be less than the lifetime minimum guaranteed interest rate. Current interest rates will never be less than the annual minimum guaranteed interest rate. FIXED MATURITY OPTIONS We offer fixed maturity options with maturity dates generally ranging from one to ten years. We will not accept allocations to a fixed maturity option if on the date the contribution or transfer is to be applied the rate to maturity is 3%. This means that at points in time there may be no fixed maturity options available. You can allocate your contributions to one or more of these fixed maturity options. However, you may not allocate more than one contribution to any one fixed maturity option. These amounts become part of a non-unitized separate account. They will accumulate interest at the "rate to maturity" for each fixed maturity option. The total amount you allocate to and accumulate in each fixed maturity option is called the "fixed maturity amount." - -------------------------------------------------------------------------------- Fixed maturity options generally range from one to ten years to maturity. - -------------------------------------------------------------------------------- The rate to maturity you will receive for each fixed maturity option is the rate to maturity in effect for new contributions allocated to that fixed maturity option on the date we apply your contribution. On the maturity date of a fixed maturity option, your fixed maturity amount, assuming you have not made any withdrawals or transfers, will equal your contribution to that fixed maturity option plus interest, at the rate to maturity for that contribution. This is the fixed maturity option's "maturity value." Before maturity, the current value we will report for your fixed maturity amount will reflect a market value adjustment. Your current value will reflect the market value adjustment that we would make if you were to withdraw all of your fixed maturity amounts on the date of the report. We call this your "market adjusted amount." FIXED MATURITY OPTIONS AND MATURITY DATES. As of May 1, we currently offer fixed maturity options ending on June 15th for maturity years ranging from one through ten. Not all of these fixed maturity options will be available for participants ages 76 and older. See "Allocating your contributions." As fixed maturity options expire, we expect to add maturity options so that generally 10 fixed maturity options are available at any time. We will not accept allocations to a fixed maturity option if on the date the contribution is to be applied: o you previously allocated a contribution or made a transfer to the same fixed maturity option; or o the rate to maturity is 3%; or o the fixed maturity option's maturity date is within 45 days; or o the fixed maturity option's maturity date is later than the date annuity payments are to begin. YOUR CHOICES AT THE MATURITY DATE. We will notify you at least 45 days before each of your fixed maturity options is scheduled to mature. At that time, you may choose to have one of the following take place on the maturity date, as long as none of the conditions listed above or in "Allocating your contributions," would apply: (a) transfer the maturity value into another available fixed maturity option, or into any of the variable investment options; or (b) subject to plan restrictions, withdraw the maturity value (there may be a withdrawal charge). If we do not receive your choice on or before the fixed maturity option's maturity date, we will automatically transfer your maturity value into the next available fixed maturity option (or another investment option if we are required to do so by any state regulation). As of February 15, 2008, the next available maturity date was June 15, 2013 (see "About our fixed maturity options" in "More information" later in this prospectus). We may change our procedures in the future. MARKET VALUE ADJUSTMENT. If you make any withdrawals (including transfers, surrender or termination of your certificate or when we make deductions for charges) from a fixed maturity option before it matures, we will make a market value adjustment, which will increase or decrease any fixed maturity amount you have in that fixed maturity option. The market value adjustment, positive or negative, resulting from a withdrawal or transfer of a portion of the amount in the fixed maturity option will be a percentage of the market value adjustment that would apply if you were to withdraw the entire amount in that fixed maturity option. The amount applied to an annuity payout option will reflect the application of any applicable market value adjustment (either positive or negative). We only apply a positive market value adjustment to the amount in the fixed maturity option when calculating any death benefit proceeds under your certificate. The amount of the adjustment will depend on two factors: Contract features and benefits 24 (a) the difference between the rate to maturity that applies to the amount being withdrawn and the rate to maturity in effect at that time for new allocations to that same fixed maturity option, and (b) the length of time remaining until the maturity date. In general, if interest rates rise from the time that you originally allocate an amount to a fixed maturity option to the time that you take a withdrawal, the market value adjustment will be negative. Likewise, if interest rates drop at the end of that time, the market value adjustment will be positive. Also, the amount of the market value adjustment, either up or down, will be greater the longer the time remaining until the fixed maturity option's maturity date. Therefore, it is possible that the market value adjustment could greatly reduce your value in the fixed maturity options, particularly in the fixed maturity options with later maturity dates. We provide an illustration of the market adjusted amount of specified maturity values, an explanation of how we calculate the market value adjustment, and information concerning our general account and investments purchased with amounts allocated to the fixed maturity options, in "More information" later in this prospectus. Appendix II at the end of this prospectus provides an example of how the market value adjustment is calculated. SELECTING YOUR INVESTMENT METHOD Your employer or you must choose one of the following two methods for selecting your investment options: o MAXIMUM INVESTMENT OPTIONS CHOICE. Under this method, you may allocate contributions or transfer funds to any of the available investment options listed in A and B in the investment options chart. You can make transfers whenever you choose. However, there will be restrictions on the amount you can transfer out of the guaranteed interest option listed in A. o MAXIMUM TRANSFER FLEXIBILITY. Under this method, you may allocate contributions or transfer funds to any of the available investment options listed in A in the investment options chart and no transfer restrictions will apply. TEMPORARY REMOVAL OF TRANSFER RESTRICTIONS THAT APPLY TO THE INVESTMENT METHODS. From time to time, we may remove certain restrictions that apply to your investment method. If we do so, we will tell you. For example, if you elect the "Maximum investment options choice" method, for a limited time there will be no restrictions on the amount you could transfer out of the guaranteed interest option listed in group "A." If you elect the "Maximum transfer flexibility" method, for a limited time you will be able to use the fixed income variable investment options listed in group "B" as well as the fixed maturity options. We will also tell you at least 45 days in advance of the day that we intend to reimpose the transfer restrictions. When we reimpose the transfer restrictions, if you elect the "Maximum investment options choice" method, limits on transfers out of the guaranteed interest option will again apply. If you elect the "Maximum transfer flexibility" method, you will no longer be permitted to allocate new contributions to, or transfer amounts into, the variable investment options in group B (including through our rebalancing program) or the fixed maturity options. However, amounts that are in any investment options that are not available under "Maximum transfer flexibility" can remain in these options. - -------------------------------------------------------------------------------- Investment Options - -------------------------------------------------------------------------------- A - -------------------------------------------------------------------------------- o Guaranteed Interest Option - -------------------------------------------------------------------------------- Domestic stocks - -------------------------------------------------------------------------------- o AXA Aggressive Allocation o EQ/Marsico Focus o AXA Moderate-Plus Allocation o EQ/Mid Cap Value PLUS o EQ/AllianceBernstein Common Stock o EQ/Montag & Caldwell Growth o EQ/AllianceBernstein Large Cap o EQ/Mutual Shares Growth o EQ/Oppenheimer Main Street o EQ/AllianceBernstein Small Cap Opportunity Growth o EQ/Oppenheimer Main Street Small o EQ/AllianceBernstein Value Cap o EQ/BlackRock Basic Value Equity o EQ/Small Company Index o EQ/Boston Advisors Equity Income o EQ/T. Rowe Price Growth Stock o EQ/Calvert Socially Responsible o EQ/Templeton Growth o EQ/Capital Guardian Growth o EQ/UBS Growth and Income o EQ/Capital Guardian Research o EQ/Van Kampen Comstock o EQ/Davis New York Venture o EQ/Van Kampen Mid Cap Growth o EQ/Equity 500 Index o EQ/Van Kampen Real Estate o EQ/Evergreen Omega o Multimanager Aggressive Equity o EQ/FI Mid Cap o Multimanager Health Care o EQ/Franklin Small Cap Value o Multimanager Large Cap Core Equity o EQ/Franklin Templeton Founding o Multimanager Large Cap Growth Strategy o Multimanager Large Cap Value o EQ/GAMCO Mergers and Acquisitions o Multimanager Mid Cap Growth o EQ/GAMCO Small Company Value o Multimanager Mid Cap Value o EQ/JPMorgan Value Opportunities o Multimanager Small Cap Growth o EQ/Large Cap Core PLUS o Multimanager Small Cap Value o EQ/Large Cap Growth PLUS o Multimanager Technology o EQ/Legg Mason Value Equity o Target 2015 Allocation(1) o EQ/Lord Abbett Growth and Income o Target 2025 Allocation(1) o EQ/Lord Abbett Large Cap Core o Target 2035 Allocation(1) o EQ/Lord Abbett Mid Cap Value o Target 2045 Allocation(1) - -------------------------------------------------------------------------------- International Stocks - -------------------------------------------------------------------------------- o EQ/AllianceBernstein International o EQ/Oppenheimer Global o EQ/BlackRock International Value o EQ/Van Kampen Emerging Markets o EQ/International Core PLUS Equity o EQ/International Growth o Multimanager International Equity - -------------------------------------------------------------------------------- Balanced/hybrid - -------------------------------------------------------------------------------- o AXA Moderate Allocation - -------------------------------------------------------------------------------- B - -------------------------------------------------------------------------------- Fixed income - -------------------------------------------------------------------------------- o AXA Conservative Allocation o EQ/JPMorgan Core Bond o AXA Conservative-Plus Allocation o EQ/Long Term Bond o EQ/AllianceBernstein Intermediate o EQ/Money Market Government Securities o EQ/PIMCO Real Return o EQ/AllianceBernstein Quality Bond o EQ/Short Duration Bond o EQ/Caywood-Scholl High Yield Bond o Multimanager Core Bond o EQ/Evergreen International Bond o Multimanager High Yield o EQ/Franklin Income - -------------------------------------------------------------------------------- Fixed maturity options - -------------------------------------------------------------------------------- The fixed maturity options are only available in states where approved. Transfer restrictions apply as indicated above under "Fixed maturity options and maturity dates." - -------------------------------------------------------------------------------- (1) Since these investment options, collectively, the "Target Allocation investment options," as they approach their respective target dates, and thereafter, are expected to invest more heavily in fixed income securities, we reserve the right to make them group "B" investment options at or after their respective target dates. Please note that if you select the "Maximum transfer flexibility" method, and have included any of the Target Allocation investment options among your investment options, you will be deemed to have changed to the "maximum investment options choice" method. If you select the "maximum transfer flexibility" method but have not included any of the Target Allocation investment options among your allocations, you will not be changed to the alternate method but those options will no longer be available to you. 25 Contract features and benefits ERISA CONSIDERATIONS FOR EMPLOYERS If the employer's plan is intended to comply with the requirements of the Employee Retirement Income Security Act of 1974 ("ERISA") Section 404(c), the employer or the plan trustee must make sure that the investment options chosen for the plan constitute a broad range of investment choices as required by the Department of Labor's ("DOL") regulation under ERISA Section 404(c). See "Tax information" later in this prospectus. ALLOCATING YOUR CONTRIBUTIONS Once your employer or you, whichever applies, have made your investment method choice, you may allocate your contributions to one or more or all of the investment options that have been chosen, subject to any restrictions under the investment method. However, you may not allocate more than one contribution to any one fixed maturity option. If you are age 76 or older, you may only allocate contributions to fixed maturity options with maturities of five years or less. Allocations must be in whole percentages and you may change your allocation percentages at any time. However, the total of your allocations must equal 100%. Once your contributions are allocated to the investment options, they become a part of your account value. We discuss account value in "Determining your certificate's value" later in this prospectus. After your certificate is issued, either you or your employer may request that we add or eliminate any variable investment options that result in transfer restrictions. We reserve the right to deny such requests. See "Transferring your money among investment options" later in this prospectus. The group annuity contract that covers the qualified plan in which you participate is not an investment advisory account, and AXA Equitable is not providing any investment advice or managing the allocations under this contract. In the absence of a specific written arrangement to the contrary, you, as the participant under this contract, have the sole authority to make investment allocations and other decisions under the contract. Your AXA Advisors financial professional is acting as a broker-dealer registered representative, and is not authorized to act as an investment advisor or to manage the allocations under your contract. If your financial professional is a registered representative with a broker-dealer other than AXA Advisors, you should speak with him/her regarding any different arrangements that may apply. UNALLOCATED ACCOUNT When we receive cash transferred from a prior funding vehicle, the transferred amount will be credited as one lump sum to the plan's unallocated account. Any amount held in the plan's unallocated account becomes part of our guaranteed interest option and will be credited with interest at the rate applicable to amounts held in the guaranteed interest option. The transferred amount will remain in the plan's unallocated account until we have received all the information we require, including properly completed forms, to effect a transfer from the plan's unallocated account to a participant account. With respect to each participant, we will allocate amounts to each participant's account only after the employer provides instructions that are acceptable and necessary in order to complete the allocation process. We reserve the right to limit the period during which such instructions may be received to no more than 10 days from the initial transfer into the plan's unallocated account and to return funds to the employer for which transfer information has not been timely received in good order. In no event will we hold the transferred assets in the unallocated account for more than 105 days from the contract date. Under no circumstances will we be required to transfer to participant accounts an amount in aggregate greater than the amount deposited by the employer plus such interest as we credited to the unallocated account, unless otherwise expressly agreed upon between the employer and us. The employer is solely responsible for effectuating the asset transfers in accordance with all applicable laws and regulations. - -------------------------------------------------------------------------------- The "contract date" is the effective date of a contract. This usually is the business day we receive the properly completed and signed employer application, along with any other required documents. The contract date will be shown in the contract. The 12-month period beginning on the contract date and each 12-month period after that date is a "contract year." The end of each 12-month period is the "contract date anniversary." For example, if your contract date is May 1, your contract date anniversary is April 30. - -------------------------------------------------------------------------------- DEATH BENEFIT Your certificate provides a death benefit. If you do not elect the enhanced death benefit described below, the death benefit is equal to the greater of (i) your account value (less any outstanding loan and accrued loan interest) as of the date we receive satisfactory proof of death, any required instructions for the method of payment, information and forms necessary to effect payment, or (ii) the standard death benefit. Your account value will include any positive market value adjustment but will not include any negative market value adjustment that would apply to a withdrawal. The standard death benefit is equal to your total contributions, adjusted for withdrawals and any withdrawal charges, any taxes that apply and less any outstanding loan balance (including any accrued, but unpaid, interest). ENHANCED DEATH BENEFIT For an additional annual fee you may elect the enhanced death benefit. You may elect the enhanced death benefit only at the time you apply to participate under the EQUI-VEST(SM) Strategies contract. Additionally, to elect this benefit, you must be younger than age 76 when participation under the contract begins. Once you elect this benefit, you may not cancel it as long as you continue participation in the contract. If you elect the enhanced death benefit, the death benefit is equal to the greater of: (a) your account value (without any negative market value adjust ment that would otherwise apply) as of the date we receive satisfactory proof of your death, any required instructions for the method of payment, information and forms necessary to effect payment (less any outstanding loan and accrued loan interest); or (b) the enhanced death benefit as of the date of your death. On the participation date, your enhanced death benefit equals your initial contribution. Then, on each third participation date anniversary until you are age 85, we will determine your enhanced death benefit Contract features and benefits 26 by comparing your current enhanced death benefit to your account value. If your account value is higher than your enhanced death benefit, we will increase your enhanced death benefit to equal your account value. On the other hand, if your account value on any third participation date anniversary is less than your enhanced death benefit, we will not adjust your enhanced death benefit either up or down. If you make additional contributions, we will increase your current enhanced death benefit by the dollar amount of the contribution on the date the contribution is allocated to your investment options. If you take a withdrawal from your account value, we will adjust your enhanced death benefit on the date you take the withdrawal. Appendix III at the end of this prospectus provides an example of how the enhanced death benefit is calculated. HOW WITHDRAWALS AFFECT THE STANDARD DEATH BENEFIT AND THE ENHANCED DEATH BENEFIT Each withdrawal you make will reduce the amount of your current standard death benefit or enhanced death benefit on a pro rata basis. Reduction on a pro rata basis means that we calculate the percentage of your current account value that is being withdrawn and we reduce your current standard death benefit or enhanced death benefit by that same percentage. For example, if your account value is $30,000 and you withdraw $12,000, you have withdrawn 40% of your account value. If your enhanced death benefit was $40,000 before the withdrawal, it would be reduced by $16,000 ($40,000 x .40) and your new enhanced death benefit after the withdrawal would be $24,000 ($40,000-$16,000). Before purchasing certain optional benefits such as the enhanced death benefit for your certificate, you and your tax adviser should carefully consider the following. If you intend to satisfy your lifetime required minimum distribution ("RMD") requirements which begin after age 70-1/2 for this certificate by taking account-based withdrawals (as opposed to receiving annuity payments), you should know that under the terms of the annuity contract such withdrawals will reduce your optional benefits and may have the effect of eliminating your ability to utilize the entire benefit. Also, purchasing certain optional benefits may increase the amount of RMDs you are required to withdraw under the tax rules if you elect withdrawals and not annuity payments. For more information see "Tax information" later in this prospectus. YOUR RIGHT TO CANCEL WITHIN A CERTAIN NUMBER OF DAYS If for any reason you are not satisfied with your certificate, you may return it to us for a refund. To exercise this cancellation right you must mail the certificate directly to our processing office within 10 days after you receive it. In some states, this "free look" period may be longer. For contributions allocated to the variable investment options, your refund will equal the contributions, reflecting any investment gain or loss that also reflects the daily charges we deduct. For contributions allocated to the guaranteed interest option, the refund will equal the amount of the contributions but will not include interest. For contributions allocated to the fixed maturity options, the refund will equal the amount of the contribution allocated to fixed maturity options reflecting any positive or negative market value adjustments. For TSA and EDC contracts, your refund will also be less any amounts in the loan reserve account. Some states require that we refund the full amount of the contribution (not including any investment gain or loss, or interest or market value adjustment). We may require that you wait six months before you apply for a certificate with us again if: o you cancel your certificate during the free look period; or o you change your mind before you receive your certificate whether we have received your contribution or not. In addition to the cancellation right described above, you have the right to surrender your certificate, rather than cancel it. Please see "Surrender of your certificate to receive its cash value," later in this prospectus. Surrendering your certificate may yield results different than canceling your certificate, including a greater potential for taxable income. In some cases, your cash value upon surrender may be greater than your contributions to the certificate. Please see "Tax information," later in this Propectus for possible consequences of cancelling your certificate. 27 Contract features and benefits 2. Determining your certificate's value - -------------------------------------------------------------------------------- YOUR ACCOUNT VALUE AND CASH VALUE Your "account value" is the total of the: (i) values you have allocated to the variable investment options; (ii) the guaranteed interest option; (iii) the market adjusted amounts you have in the fixed maturity options; and (iv) if you have taken a loan, amounts held in your loan reserve account. These amounts are subject to certain fees and charges discussed in "Charges and expenses" later in this prospectus. Your certificate also has a "cash value." At any time before annuity payments begin, your certificate's cash value is equal to the account value, less: (i) any applicable withdrawal charges and (ii) the total amount or a pro rata portion of the annual administrative charge, and (iii) any outstanding loan plus accrued interest. YOUR CERTIFICATE'S VALUE IN THE VARIABLE INVESTMENT OPTIONS Each variable investment option invests in shares of a corresponding portfolio. Your value in each variable investment option is measured by "units." The value of your units will increase or decrease as though you had invested it in the corresponding portfolio's shares directly. Your value, however, will be reduced by the amount of the fees and charges that we deduct under the certificate. - -------------------------------------------------------------------------------- Units measure your value in each variable investment option. - -------------------------------------------------------------------------------- The unit value for each variable investment option depends on the investment performance of that option minus daily charges for mortality and expense risks and other expenses. On any day, your value in any variable investment option equals the number of units credited to that option, adjusted for any units purchased for or deducted from your certificate under that option, multiplied by that day's value for one unit. The number of your certificate units in any variable investment option does not change unless they are increased or decreased to reflect additional contributions, withdrawals, withdrawal charges, transfers and loans. In addition, the annual administrative charge, enhanced death benefit charge or third-party transfer or exchange charge, will reduce the number of units credited to your certificate. A description of how unit values are calculated is found in the SAI. YOUR CERTIFICATE'S VALUE IN THE GUARANTEED INTEREST OPTION Your value in the guaranteed interest option at any time will equal: your contributions and transfers to that option, plus interest, minus withdrawals and transfers out of the option, and charges we deduct. YOUR CERTIFICATE'S VALUE IN THE FIXED MATURITY OPTIONS Your value in each fixed maturity option at any time before the maturity date is the market adjusted amount in each option, which reflects withdrawals out of the option and charges we deduct. This is equivalent to your fixed maturity amount increased or decreased by the market value adjustment. Your value, therefore, may be higher or lower than your contributions (less withdrawals) accumulated at the rate to maturity. At the maturity date, your value in the fixed maturity option will equal its maturity value, provided there have been no withdrawals or transfers. Determining your certificate's value 28 3. Transferring your money among investment options - -------------------------------------------------------------------------------- TRANSFERRING YOUR ACCOUNT VALUE At any time before the date annuity payments are to begin, you can transfer some or all of your account value among the investment options, subject to the following: o You must transfer at least $300 of account value or, if less, the entire amount in the investment option. We may waive the $300 requirement. o You may not transfer to a fixed maturity option in which you already have value. o You may not transfer to a fixed maturity option that has a rate to maturity of 3%. o If you are age 76 or older, you must limit your transfers to fixed maturity options with maturities of five years or less. As of February 15, 2008, not all maturities were available. o You may not transfer to a fixed maturity option if its maturity date is later than the date annuity payments are to begin. o If you make transfers out of a fixed maturity option other than at its maturity date the transfer will cause a market value adjustment. o If your employer or you choose the maximum investment options choice method for selecting investment options (including if you have been deemed to have selected that method as a result of a Target Allocation investment option in which you are invested becoming a group "B" option as described under "Selecting your investment method" in "Contract features and benefits" earlier in this prospectus) the maximum amount you may transfer in any contract year from the guaranteed interest option to any other investment option is (a) 25% of the amount you had in the guaranteed interest option on the last day of the prior participation year or, if greater, (b) the total of all amounts you transferred from the guaranteed interest option to any other investment option in the prior participation year. o If you transfer money from another financial institution into the guaranteed interest option during your first participation year, and if your employer or you have selected the maximum investment options method (including if you have been deemed to have selected that method as a result of a Target Allocation investment option in which you are invested becoming a group "B" option as described under "Selecting your investment method" in "Contract features and benefits" earlier in this prospectus) you may, during the balance of that contract year, transfer up to 25% of such initial guaranteed interest option balance to any other investment option. Upon advance notice we may change or establish additional restrictions on transfers among the investment options, including limitations on the number, frequency, or dollar amount of transfers. A transfer request does not change your percentages for allocating current or future contributions among the investment options. In addition to the restrictions described above, all transfers are subject to our policies and procedures set forth in "Disruptive transfer activity" below. You may request a transfer in writing or by telephone using TOPS or online using EQAccess. You must send all signed written requests directly to our processing office. Transfer requests should specify: (1) the certificate number, (2) the dollar amounts to be transferred, and (3) the investment options to and from which you are transferring. You or the trustee or employer owner, whichever applies, can direct us to transfer among the investment options. We will confirm all transfers in writing. Please see "Allocating your contributions" in "Contract features and benefits" for more information about your role in managing your allocations. DISRUPTIVE TRANSFER ACTIVITY You should note that the contract is not designed for professional "market timing" organizations, or other organizations or individuals engaging in a market timing strategy. The contract is not designed to accommodate programmed transfers, frequent transfers or transfers that are large in relation to the total assets of the underlying portfolio. Frequent transfers, including market timing and other program trading or short-term trading strategies, may be disruptive to the underlying portfolios in which the variable investment options invest. Disruptive transfer activity may adversely affect performance and the interests of long-term investors by requiring a portfolio to maintain larger amounts of cash or to liquidate portfolio holdings at a disadvantageous time or price. For example, when market timing occurs, a portfolio may have to sell its holdings to have the cash necessary to redeem the market timer's investment. This can happen when it is not advantageous to sell any securities, so the portfolio's performance may be hurt. When large dollar amounts are involved, market timing can also make it difficult to use long-term investment strategies because a portfolio cannot predict how much cash it will have to invest. In addition, disruptive transfers or purchases and redemptions of portfolio investments may impede efficient portfolio management and impose increased transaction costs, such as brokerage costs, by requiring the portfolio manager to effect more frequent purchases and sales of portfolio securities. Similarly, a portfolio may bear increased administrative costs as a result of the asset level and investment volatility that accompanies patterns of excessive or short-term trading. Portfolios that invest a significant portion of their assets in foreign securities or the securities of small- and mid-capitalization companies tend to be subject to the risks associated with market timing and short-term trading strategies to a greater extent than portfolios that do not. Securities trading in overseas markets present time zone arbitrage opportunities when events affecting portfolio securities values occur after the close of the overseas market but prior to the close of 29 Transferring your money among investment options the U.S. markets. Securities of small- and mid-capitalization companies present arbitrage opportunities because the market for such securities may be less liquid than the market for securities of larger companies, which could result in pricing inefficiencies. Please see the prospectuses for the underlying portfolios for more information on how portfolio shares are priced. We currently use the procedures described below to discourage disruptive transfer activity. You should understand, however, that these procedures are subject to the following limitations: (1) they primarily rely on the policies and procedures implemented by the underlying portfolios; (2) they do not eliminate the possibility that disruptive transfer activity, including market timing, will occur or that portfolio performance will be affected by such activity; and (3) the design of market timing procedures involves inherently subjective judgments, which we seek to make in a fair and reasonable manner consistent with the interests of all contract owners/participants. We offer investment options with underlying portfolios that are part of AXA Premier VIP Trust and EQ Advisors Trust (together, the "trusts"). The trusts have adopted policies and procedures regarding disruptive transfer activity. They discourage frequent purchases and redemptions of portfolio shares and will not make special arrangements to accommodate such transactions. They aggregate inflows and outflows for each portfolio on a daily basis. On any day when a portfolio's net inflows or outflows exceed an established monitoring threshold, the trust obtains from us owner/participant trading activity. The trusts currently consider transfers into and out of (or vice versa) the same variable investment option within a five business day period as potentially disruptive transfer activity. Each trust reserves the right to reject a transfer that it believes, in its sole discretion, is disruptive (or potentially disruptive) to the management of one of its portfolios. Please see the prospectuses for the trusts for more information. When a contract owner/participant is identified as having engaged in a potentially disruptive transfer under the contract for the first time, a letter is sent to the contract owner/participant explaining that there is a policy against disruptive transfer activity and that if such activity continues certain transfer privileges may be eliminated. If and when the contract owner/participant is identified a second time as engaged in potentially disruptive transfer activity under the contract, we currently prohibit the use of voice, fax and automated transaction services. We currently apply such action for the remaining life of each affected certificate. We or a trust may change the definition of potentially disruptive transfer activity, the monitoring procedures and thresholds, any notification procedures, and the procedures to restrict this activity. Any new or revised policies and procedures will apply to all contract owners/participants uniformly. We do not permit exceptions to our policies restricting disruptive transfer activity. It is possible that the trusts may impose a redemption fee designed to discourage frequent or disruptive trading by contract owners/ participants. As of the date of this prospectus, the trusts had not implemented such a fee. If a redemption fee is implemented by a trust, that fee, like any other trust fee, will be borne by the contract owner/ participant. Contract owners/participants should note that it is not always possible for us and the underlying trusts to identify and prevent disruptive transfer activity. Our ability to monitor potentially disruptive transfer activity is limited in particular with respect to certain group contracts. Group annuity contracts may be owned by retirement plans on whose behalf we provide transfer instructions on an omnibus (aggregate) basis, which may mask the disruptive transfer activity of individual plan participants, and/or interfere with our ability to restrict communication services. In addition, because we do not monitor for all frequent trading at the separate account level, contract owners may engage in frequent trading which may not be detected, for example, due to low net inflows or outflows on the particular day(s). Therefore, no assurance can be given that we or the trusts will successfully impose restrictions on all potentially disruptive transfers. Because there is no guarantee that disruptive trading will be stopped, some contract owners/participants may be treated differently than others, resulting in the risk that some contract owners/participants may be able to engage in frequent transfer activity while others will bear the effect of that frequent transfer activity. The potential effects of frequent transfer activity are discussed above. AUTOMATIC TRANSFER OPTIONS INVESTMENT SIMPLIFIER You may choose from two automatic options for transferring amounts from the guaranteed interest option to the variable investment options. The transfer options are the "fixed-dollar option" and the "interest sweep." You may select one or the other, but not both. If you elect to use rebalancing option II (discussed below), you may not choose either of the investment simplifier options. FIXED-DOLLAR OPTION. Under this option you may elect to have a fixed-dollar amount transferred out of the guaranteed interest option and into the variable investment options of your choice on a monthly basis. You can specify the number of monthly transfers or instruct us to continue to make monthly transfers until all available amounts in the guaranteed interest option have been transferred out. In order to elect the fixed-dollar option, you must have a minimum of $5,000 in the guaranteed interest option on the date we receive your election form at our processing office. You also must elect to transfer at least $50 per month. The fixed-dollar option is subject to the guaranteed interest option transfer limitation described above under "Transferring your account value." INTEREST SWEEP. Under the interest sweep, we will make transfers on a monthly basis from amounts in the guaranteed interest option. The amount we will transfer will be the interest credited to amounts you have in the guaranteed interest option from the last business day of the prior month to the last business day of the current month. You must have at least $7,500 in the guaranteed interest option on the date we receive your election and on the last business day of each month thereafter to participate in the interest sweep option. The fixed-dollar and interest sweep options are forms of dollar-cost averaging. Dollar-cost averaging allows you to gradually allocate amounts to the variable investment options by periodically transferring Transferring your money among investment options 30 approximately the same dollar amount to the variable investment options you select. This will cause you to purchase more units if the unit's value is low and fewer units if the unit's value is high. Therefore, you may get a lower average cost per unit over the long term. This plan of investing, however, does not guarantee that you will earn a profit or be protected against losses. WHEN YOUR PARTICIPATION IN THE INVESTMENT SIMPLIFIER WILL END. Your participation in the investment simplifier will end: o Under the fixed-dollar option, when either the number of designated monthly transfers have been completed or the amount you have available in the guaranteed interest option has been transferred out. o Under the interest sweep, when the amount you have in the guaranteed interest option falls below $7,500 (determined on the last business day of the month) for two months in a row. o Under either option, on the date we receive at our processing office, your written request to cancel automatic transfers, or on the date your certificate terminates. REBALANCING YOUR ACCOUNT VALUE Our rebalancing program offers two options that you can use to automatically reallocate your account value. Option I permits reallocation among the variable investment options only and option II permits reallocation among the variable investment options and the guaranteed interest option. You must tell us: (a) in whole percentages only, the percentage you want invested in each variable investment option (and the guaranteed interest option, if applicable), and (b) how often you want the rebalancing to occur (quarterly, semiannually, or annually). While your rebalancing program is in effect, we will transfer amounts among each variable investment option (and the guaranteed interest option, if applicable), so that the percentage of your account value that you specify is invested in each option at the end of each rebalancing date. Your entire account value in the variable investment options (and guaranteed interest option, if applicable) must be included in the rebalancing program. Transfer restrictions out of the guaranteed interest option may apply in accordance with the last two bullets under "Transferring your account value," above, in this section. The initial transfer under the rebalancing program (based on your account value as of the day before the program is established) is not permitted to cause the transfer restrictions to be violated, and any rebalancing election that would be a violation of the transfer restrictions will not be put into effect. However, if the program can be established, once it is in effect, the transfer restrictions will be waived for the rebalancing transfers. - -------------------------------------------------------------------------------- Rebalancing does not assure a profit or protect against loss. You should periodically review your allocation percentages as your needs change. You may want to discuss the rebalancing program with your financial professional before electing the program. - -------------------------------------------------------------------------------- You may elect the rebalancing program at any time. To be eligible, you must have (i) at least $5,000 of account value in the variable investment options for option I, or (ii) at least $5,000 of account value in the variable investment options and the guaranteed interest option, combined for option II. Rebalancing is not available for amounts you have allocated in the fixed maturity options. If you elect to use option II, you may not choose either of the investment simplifier automatic options. If you request a transfer while the rebalancing program is in effect, we will process the transfer as requested. The rebalancing program will then remain in effect unless you request in writing that it be cancelled. You may change your allocation instructions or cancel the program at any time. For certificates with outstanding loans only, on any rebalancing date where the amount to be transferred from the guaranteed interest option would cause a transfer from the loan reserve account (which is part of the guaranteed interest option), the rebalancing program will be automatically cancelled. (See "Loans" in "Accessing your money," later in this prospectus.) 31 Transferring your money among investment options 4. Accessing your money - -------------------------------------------------------------------------------- WITHDRAWING YOUR ACCOUNT VALUE You have several ways to withdraw your account value before annuity payments begin. The table below shows the methods available. EQUI-VEST(SM) Strategies TSA participants may only withdraw amounts from their account value that are 100% vested, subject to the employer's approval, plan rules and applicable laws. (See "Forfeitures" below.) More information follows the table. For the tax consequences of taking withdrawals, see "Tax information" later in this prospectus. FORFEITURES A 403(b) plan may have a vesting schedule applicable to some or all employer contributions. Forfeitures can arise when a 403(b) plan participant who is not fully vested under a plan separates from service. Plan participants should consult the plan administrator to learn more about the vesting schedule. When a forfeiture occurs, we will withdraw any unvested portion of a plan participant's account value and deposit such amount in a forfeiture account in the contract. The plan administrator must tell us the unvested balance. We allocate amounts in the forfeiture account to the guaranteed interest option, unless otherwise agreed to by the employer/trustee and us. Forfeited account values may be reallocated to active plan participants in accordance with the terms of the plan. Special rules apply to how the withdrawal charge, if any, will apply when forfeitures have occurred. See "Withdrawal charge" under "Charges and expenses" later in this prospectus. METHOD OF WITHDRAWAL - -------------------------------------------------------------------------------- Partial Minimum Contract withdrawal Systematic distribution - -------------------------------------------------------------------------------- TSA yes(1)(2)(3) yes(1)(2)(3) yes(2)(3) - -------------------------------------------------------------------------------- EDC yes(1)(2)(3) yes(1)(2)(3) yes(2)(3) - -------------------------------------------------------------------------------- (1) Only if the certificate is not subject to withdrawal restrictions. (2) Only if there are no outstanding loans. (3) Requires or may require Plan Administrator's approval. See "Tax information" later in this prospectus. PARTIAL WITHDRAWALS AND TERMINATIONS Subject to the terms of your employer's plan, your certificate and any restrictions in federal income tax rules, you may take partial withdrawals from your account value or terminate your certificate at any time while you are living and before annuity payments begin. The minimum amount you may withdraw at any time is $300. If your account value is less than $500 after a withdrawal, we may terminate your certificate and pay you its cash value. Partial withdrawals, or payments of remaining account value in excess of the 10% free withdrawal amount, may be subject to a withdrawal charge. (See "10% free withdrawal amount" in "Charges and expenses" later in this prospectus.) SYSTEMATIC WITHDRAWALS If you have at least $20,000 of account value in the variable investment options and the guaranteed interest option, you may take systematic withdrawals on a monthly or quarterly basis. The minimum amount you may take for each withdrawal is $250. We will make the withdrawal on any day of the month that you select as long as it is not later than the 28th day of the month. If you do not select a date, your withdrawals will be made on the first day of the month. A check for the amount of the withdrawal will be mailed to you or, if you prefer, we will electronically transfer the money to your checking account. You may withdraw either the amount of interest earned in the guaranteed interest option or a fixed-dollar amount from either the variable investment options or the guaranteed interest option. If you elect the interest option, a minimum of $20,000 must be maintained in the guaranteed interest option. If you elect the fixed-dollar option, you do not have to maintain a minimum amount. If you choose to have a fixed dollar amount taken from the variable investment options, you may elect to have the amount of the withdrawal subtracted from your account value in one of three ways: (1) pro rata from more than one variable investment option (without using up your total value in those options); or (2) pro rata from more than one variable investment option (until your value in those options is used up); or (3) you may specify a dollar amount from only one variable investment option. If you choose this option and the value in that variable investment option drops below the requested amount, the requested amount will be taken on a pro rata basis from all of the variable investment options in which you have value. You may elect systematic withdrawals if: o the plan permits it; o your certificate is not subject to withdrawal restrictions; and o your certificate does not have a loan outstanding. You can cancel the systematic withdrawal option at any time. Amounts withdrawn in excess of the 10% free withdrawal amount may be subject to a withdrawal charge. LIFETIME MINIMUM DISTRIBUTION WITHDRAWALS (See "Tax information" later in this prospectus) We offer our "required minimum distribution (RMD) automatic withdrawal option" to help you meet lifetime required minimum distributions under federal income tax rules. This is not the exclusive way for you to meet these rules. After consultation with your tax adviser, you may decide to compute required minimum distributions yourself and request partial withdrawals. In such a case, a withdrawal charge may apply if your withdrawal exceeds the free withdrawal amount. Before electing an account-based withdrawal option, please Accessing your money 32 refer to "Tax information," "Required minimum distributions" later in this prospectus. You may choose instead an annuity payout option. The actuarial present value of additional contract benefits must be added to the account value in calculating required minimum distribution withdrawals from annuity contracts funding 403(b) plans and 457(b) EDC plans. For this purpose additional annuity contract benefits may include enhanced death benefits. You may elect our RMD automatic withdrawal option in the year in which you reach age 70-1/2 or in any later year, subject to the terms of your plan, if applicable. To elect this option, you must have an account value in the variable investment options and the guaranteed interest option of at least $2,000. The minimum amount we will pay out is $300, or if less, your account value. If your account value is less than $500 after the withdrawal, we may terminate your certificate and pay you its cash value. Currently, minimum distribution withdrawal payments will be made annually. See the "Required minimum distributions" section in "Tax information" later in this prospectus for your specific type of retirement arrangement. Currently, we do not impose a withdrawal charge on minimum distribution withdrawals if you are enrolled in our RMD automatic withdrawal option. The minimum distribution withdrawal will be taken into account in determining if any subsequent withdrawal taken in the same participation year exceeds the 10% free withdrawal amount. You may not elect the minimum distribution option if you have an outstanding loan under your certificate. If you purchased your EQUI-VEST(SM) Strategies TSA certificate via a direct transfer of funds from another 403(b) plan or contract and we were informed at the time of your purchase the amount of your December 31, 1986 account balance (if any) you may postpone beginning lifetime required minimum distributions on these pre-1987 funds. Lifetime required minimum distributions on the pre-1987 account balance may be postponed to age 75 rather than having to start following the later of your reaching age 70-1/2 or retiring. - -------------------------------------------------------------------------------- For certificates subject to minimum distribution requirements, we will send a form outlining the distribution options available in the year you reach age 70-1/2 (if you have not begun your annuity payments before that time). - -------------------------------------------------------------------------------- HOW WITHDRAWALS ARE TAKEN FROM YOUR ACCOUNT VALUE Unless you specify otherwise, we will subtract your withdrawals on a pro rata basis from your values in the investment options. A market value adjustment will apply if withdrawals are taken from the fixed maturity options. AUTOMATIC DEPOSIT SERVICE If you are receiving Required Minimum Distribution payments from a TSA certificate you may use our automatic deposit service. Under this service we will automatically deposit the Required Minimum Distribution payment from your TSA certificate directly into an existing EQUI-VEST(SM) NQ or ROTH IRA or an existing EQUI-VEST(SM) Express NQ or ROTH IRA contract according to your allocation instructions. Please note that you must have compensation or earned income for the year of the contribution to make regular contributions to Roth IRAs. LOANS If the plan permits, loans are available under a 403(b) plan or a governmental employer 457(b) EDC plan. Loans are available under the EQUI-VEST(SM) Strategies contract only if requested by the employer. Loans are subject to federal income tax limits and are also subject to the limits of the plan. The loan rules under ERISA may apply to 403(b) plans not sponsored by a governmental employer. Federal income tax rules apply to all plans, even if the plan is not subject to ERISA. We do not permit loans under any TSA or governmental employer EDC certificate when the required minimum distribution automatic withdrawal option has been elected. Before we make a loan, you must properly complete and sign a loan request form. Generally, the approval of the employer, its delegate, or plan administrator must also be demonstrated. Loan processing may not be completed until we receive all information and approvals required to process the loan at our processing office. In the case of certain TSA certificates subject to ERISA, the written consent of your spouse will be required to obtain a loan and the Plan Administrator needs to sign the loan form. In the case of governmental employer EDC certificates, the loan must be approved by your employer, plan trustee, or the plan administrator as authorized under the governmental employer plan. Please see the loan provisions stated in the certificate, read the terms and conditions in the loan request form carefully and consult with a tax adviser before taking a loan. Also, see Appendix IV later in this prospectus for any state restrictions you may be subject to if you take a loan. We permit only one loan to be outstanding at any time. LOAN RESERVE ACCOUNT. When you take a loan, we will transfer to a "loan reserve account", an amount equal to the sum of (a) and (b), where (a) is the loan amount (which will earn interest at the "loan reserve account rate" while your loan is outstanding), and (b) is 10% of the loan amount (which will earn interest at the guaranteed interest rate while your loan is outstanding). We will credit interest to the amount in the loan reserve account at a rate that is 2% lower than the loan interest rate that applies for the time your loan is outstanding. This excess of the interest rate that we charge is also referred to as the "net loan interest charge." See the "Fee Table" for more information. A loan will not be treated as a taxable distribution unless: o it exceeds limits of federal income tax rules; or o interest and principal are not paid when due; or o in some instances, service with the employer terminates. The tax consequences of failure to repay a loan when due are substantial, and may result in severe restrictions on your ability to borrow amounts under any plans of your employer in the future. Loans are discussed further in "Tax information" later in this prospectus. 33 Accessing your money TERMINATION OF PARTICIPATION Your participation under the EQUI-VEST(SM) Strategies contract may be terminated by us and your account value paid to your employer if: (1) your account value is less than $500 and we have not received contributions on your behalf for a period of three years; (2) you request a partial withdrawal that reduces your account value to an amount of less than $500; (3) we have not received any contributions on your behalf within 120 days from your participation date; or (4) the plan is no longer qualified under the Code and the EQUI- VEST(SM) Strategies contract is terminated by us. We will deduct the amount of any outstanding loan balance and any applicable withdrawal charge from the account value when we terminate your certificate. The employer and, under certain circumstances, we may discontinue contributions under the EQUI-VEST(SM) Strategies contract. Such discontinuance means that the employer will not permit any further salary deferral or employer contributions to be made under the contract. All other provisions of the contract remain in effect. The employer may terminate the contract by (i) transferring all the assets to another contract or (ii) withdrawing the forfeiture account and directing us to deal directly with the participants. TEXAS ORP PARTICIPANTS For participants in a Texas Optional Retirement Program, Texas law permits withdrawals only after one of the following distributable events occur: o turning age 70-1/2; or o death; or o retirement; or o termination of employment in all Texas public institutions of higher education. To make a withdrawal, a properly completed written acknowledgment must be received from the employer. If a distributable event occurs prior to your being vested, any amounts provided by an employer's first-year matching contribution will be refunded to the employer. We may change these provisions without your consent, but only to the extent necessary to maintain compliance with any law that applies. WHEN TO EXPECT PAYMENTS Generally, we will fulfill requests for payments out of the variable investment options within seven calendar days after the date of the transaction to which the request relates. These transactions may include applying proceeds to a variable annuity payout option, payment of a death benefit, payment of any amount you withdraw (less any withdrawal charge) and, upon certificate termination, payment of the cash value. We may postpone such payments or applying proceeds for any period during which: (1) the New York Stock Exchange is closed or restricts trading, (2) the SEC determines that an emergency exists as a result of which sales of securities or determination of fair value of a variable investment option's assets is not reasonably practicable, or (3) the SEC, by order, permits us to defer payment to protect people remaining in the variable investment options. We can defer payment of any portion of your values in the guaranteed interest option and the fixed maturity options (other than for death benefits) for up to six months while you are living. We also may defer payments for a reasonable amount of time (not to exceed 15 days) while we are waiting for a contribution check to clear. All payments are made by check and are mailed to you (or the payee named in a tax-free exchange) by U.S. mail, unless you request that we use an express delivery or wire transfer service at your expense. YOUR ANNUITY PAYOUT OPTIONS EQUI-VEST(SM) Strategies offers you several choices of annuity payout options. Some enable you to receive fixed annuity payments and others enable you to receive variable annuity payments. You can choose from among the different forms of annuity payout options listed below. Restrictions may apply, depending on the type of contract or your age at certificate issue. ANNUITY PAYOUT OPTIONS - -------------------------------------------------------------------------------- Fixed annuity payout options o Life annuity o Life annuity with period certain o Life annuity with refund certain o Period certain annuity - -------------------------------------------------------------------------------- Variable Immediate Annuity payout options (as described in a o Life annuity separate prospectus for this option) o Life annuity with period certain - -------------------------------------------------------------------------------- o Life annuity: An annuity that guarantees payments for the rest of your life. Payments end with the last monthly payment before your death. Because there is no continuation of benefits following your death with this payout option, it provides the highest monthly payment of any of the life annuity options, so long as you are living. o Life annuity with period certain: An annuity that guarantees payments for the rest of your life. If you die before the end of a selected period of time ("period certain"), payments continue to the beneficiary for the balance of the period certain. The period certain cannot extend beyond your life expectancy or the joint life expectancy of you and the designated beneficiary. o Life annuity with refund certain: An annuity that guarantees payments for the rest of your life. If you die before the amount applied to purchase the annuity option has been recovered, payments to the beneficiary will continue until that amount has been recovered. This payout option is available only as a fixed annuity. o Period certain annuity: An annuity that guarantees payments for a specific period of time, usually 5, 10, 15, or 20 years. The guarantee period may not exceed your life expectancy. This option does not Accessing your money 34 guarantee payments for the rest of your life. It does not permit any repayment of the unpaid principal, so you cannot elect to receive part of the payments as a single sum payment with the rest paid in monthly annuity payments. Currently, this payout option is available only as a fixed annuity. The life annuity, life annuity with period certain, and life annuity with refund certain payout options are available on a single life or joint and survivor life basis. The joint and survivor life annuity guarantees payments for the rest of your life and, after your death, payments continue to the survivor. Generally, unless you elect otherwise with the written consent of the spouse, this will be the form of annuity payment provided for married participants under certain TSAs. We may offer other payout options not outlined here. Your financial professional can provide details. FIXED ANNUITY PAYOUT OPTION With fixed annuities, we guarantee fixed annuity payments that will be based either on the tables of guaranteed annuity payments in your certificate or on our then current annuity rates, whichever is more favorable for you. VARIABLE IMMEDIATE ANNUITY PAYOUT OPTIONS Variable Immediate Annuities are described in a separate prospectus that is available from your financial professional. Before you select a Variable Immediate Annuity payout option, you should read the prospectus which contains important information that you should know. Variable Immediate Annuities may be funded through your choice of available variable investment options investing in portfolios of AXA Premier VIP Trust and EQ Advisors Trust. The EQUI-VEST(SM) Strategies contract also offers a fixed income annuity payout option that can be elected in combination with the variable income annuity payout option. The amount of each variable income annuity payment will fluctuate, depending upon the performance of the variable investment options and whether the actual rate of investment return is higher or lower than an assumed base rate. We may offer other payout options not outlined here. Your financial professional can provide details. THE AMOUNT APPLIED TO PURCHASE AN ANNUITY PAYOUT OPTION The amount applied to purchase an annuity payout option varies, depending on the annuity payout option that you choose, and the timing of your purchase as it relates to any withdrawal charges. The amount applied to provide an annuity payout option will reflect the application of a withdrawal charge (except in those limited circumstances set forth in "Withdrawal charge," under "Charges and Expenses" later in this prospectus. The amount applied to an annuity payout option will reflect the application of any applicable market value adjustment. See "Market value adjustment" under "Contract features and benefits" earlier in this prospectus. SELECTING AN ANNUITY PAYOUT OPTION When you select a payout option, we will issue you a separate written agreement confirming your right to receive annuity payments. We require you to return your certificate before annuity payments begin. Unless you choose a different payout option, we will pay annuity payments under a life annuity with a period certain of 10 years. You choose whether these payments will be either fixed or variable. You must meet the issue age and payment requirements. You can choose the date annuity payments are to begin, but generally it may not be earlier than thirteen months from the participation date. You can change the date your annuity payments are to begin anytime before that date as long as you do not choose a date later than the 28th day of any month or later than your certificate's maturity date. Your certificate's maturity date is the date by which you must either take a lump sum withdrawal or select an annuity payout option. The maturity date is generally the participation date anniversary that follows your 85th birthday. This may be different in some states. Before your annuity payments are to begin, we will notify you by letter that the annuity payout options are available. Once you have selected a payout option and payments have begun, no change can be made, other than transfers among the variable investment options if a variable annuity is selected. We currently offer different payment frequencies on certain annuity payout options. In general, the total annual payout will be lower for more frequent payouts (such as monthly) because of the increased administrative expenses associated with more frequent payouts. In general, the longer the period over which we expect to make payments, the lower will be your payment for each year. The amount of the annuity payments will depend on: (1) the amount applied to purchase the annuity; (2) the type of annuity chosen, and whether it is fixed or variable; (3) in the case of a life annuity, your age (or your and the designated beneficiary's ages); (4) in the case of a period certain annuity, the period selected; and (5) the frequency of the payments. If, at the time you elect a payout option, the amount to be applied is less than $2,000 or the initial payment under the form elected is less than $20 monthly, we reserve the right to pay the account value in a single sum rather than as payments under the payout option chosen. 35 Accessing your money 5. Charges and expenses - -------------------------------------------------------------------------------- CHARGES UNDER THE CONTRACTS CHARGE AGAINST THE SEPARATE ACCOUNT We deduct this charge against the assets in the separate account to compensate us for mortality and expense risks, as well as administrative and financial accounting expenses under the contract. The charge is deducted daily at an annual rate that can vary by group and by variable investment option between 0.25% to 1.20% of daily net assets attributable to all certificates under the group contract. Contracts will generally have a charge of 1.20%, 0.90%, 0.70%, 0.50% or 0.25%. Charges may be based on: o the factors on which the mortality and expense risks charge and administration charges are based, including the size and type of the group; o the plan provisions which may provide, among other things, the level of contributions including employer contributions and the frequency of benefit payments; o whether we will be the sole contract provider; o the level of services provided by your financial professional; and o our sales-related expenses. The mortality risk we assume is the risk that participants as a group will live for a longer time than our actuarial tables predict. If that happens, we would be paying more in annuity benefits than we planned. We assume a mortality risk to the extent that at the time of death, the guaranteed death benefit exceeds the cash value of the certificate. The expense risk we assume is the risk that our expenses in providing the benefits and administering the contracts will be greater than we expect. To the extent that the mortality and expense risk charges are not needed to cover the actual expenses incurred, they may be considered an indirect reimbursement for certain sales and promotional expenses relating to the contracts. A participant's certificate will set forth the applicable separate account charge. We will determine the separate account charge pursuant to our established actuarial procedures, and will not discriminate unreasonably or unfairly against participants under any EQUI-VEST(SM) Strategies contracts. ANNUAL ADMINISTRATIVE CHARGE We deduct an administrative charge from your account value on the last business day of each participation year. We deduct the charge if your account value on the last business day of the participation year is less than $25,000. If your account value on such date is $25,000 or more, we do not deduct the charge. The charge is equal to $30 or, if less, 2% of your account value plus any amounts previously withdrawn during the participation year. We reserve the right to increase this charge to a maximum of $65. For particular groups, the charge may be waived or reduced for account values of less than $25,000 or the charge may also be waived entirely. We will deduct a pro rata portion of the charge if you surrender your certificate, elect an annuity payout option or you die during the participation year. The charge is deducted pro rata from the variable investment options and the guaranteed interest option. If those amounts are insufficient, we will make up the required amounts from the fixed maturity options to the extent you have value in those options. Charges deducted from the fixed maturity options are considered withdrawals and, as such, will result in a market value adjustment. Differences in this charge are due to variations in group characteristics including the total amount of plan assets. The charge is designed primarily to defray administrative expenses in connection with the issuing and daily administration of the contracts. We will determine the applicability of this charge pursuant to our established procedures, and will not discriminate unreasonably or unfairly against participants under any EQUI-VEST(SM) Strategies contracts. CHARGE FOR THIRD-PARTY TRANSFER OR ROLLOVER We may deduct a charge for third-party transfers. A third party transfer is where you ask us to directly transfer or roll over funds from your certificate to a permissible funding vehicle offered by another provider. The charge is currently $25 ($65 maximum) per occurrence per participant. This charge will also be imposed on each third-party transfer out of the contract's forfeiture account into another permissible funding vehicle. This charge does not apply to reallocations from the forfeiture account to participant certificates under the contract. Transfers are subject to any required employer approval. CHARGE FOR ENHANCED DEATH BENEFIT If you elect the enhanced death benefit we deduct a charge annually from your account value on each anniversary of your participation date. The charge is equal to 0.15% of your account value. The charge is deducted pro rata from the variable investment options and the guaranteed interest option. If those amounts are insufficient, we will make up the required amounts from the fixed maturity options to the extent you have value in those options. Charges deducted from the fixed maturity options are considered withdrawals and, as such, will result in a market value adjustment. If your account value is insufficient to pay this charge, your certificate will terminate without value and you will lose any applicable guaranteed benefits. WITHDRAWAL CHARGE A withdrawal charge of up to 6% may apply for up to the first 10 participation years, as set forth in the contract and participation certificate. Differences in the period for which and circumstances under which this charge applies are due to the total amount of plan assets under the contract, the frequency of the possible benefit payments as provided by the terms of the plan, other charges and fees under the contract and the compensation paid in connection with the Charges and expenses 36 sale of the contract. The period of and circumstances under which the withdrawal charge applies will be determined pursuant to our established procedures, and will not discriminate unreasonably or unfairly against participants under any EQUI-VEST(SM) Strategies contracts. As noted above, the withdrawal charge may vary from group to group. In general, the withdrawal charge schedule is one of three options selected by the group. Under some group contracts, the withdrawal charge is equal to 6% of the amount withdrawn (or the defaulted loan amount, if applicable) from the participant's account value during the first five participation years, 5% of the amount withdrawn during the 6th participation year, 4% of the amount withdrawn during the 7th participation year, 3% of the amount withdrawn during the 8th participation year, 2% of the amount withdrawn during the 9th participation year, and 1% of the amount withdrawn during the 10th participation year. Under some group contracts, the withdrawal charge is equal to 6% of the amount withdrawn (or the defaulted loan amount, if applicable) from the participant's account value during the first four participation years and 5% of the amount withdrawn during the 5th participation year. Under this schedule, there is no withdrawal charge in the 6th and later participation years. Under some group contracts, there is no withdrawal charge. The withdrawal charge percentages may be different for certain group contracts, including group contracts issued to certain schools in Texas and other states. If your group contract is subject to a withdrawal charge, it will not apply under the circumstances described as follows: o each participation year you can withdraw up to 10% of your account value without paying a withdrawal charge (10% free withdrawal amount). The 10% free withdrawal amount is determined using your account value at the time you request a withdrawal, minus any other withdrawals made during the participation year; or o after five participation years and you are at least age 59-1/2; or o you request a refund of an excess contribution within one month of the date on which the contribution is made; or o you die and the death benefit is made available to the beneficiary; or o after five participation years if you are at least age 55 and the amount withdrawn is used to purchase from us a period certain annuity that extends beyond your age 59-1/2 and allows no prepayment; or o after three participation years and the amount withdrawn is used to purchase from us a period certain annuity for a term of at least 10 years, and allows no prepayment; or o the amount withdrawn is applied to the election of a life contingent annuity payout option; or o the amount withdrawn is applied to the election of a period certain annuity of at least 15 years, but not in excess of your life expectancy, that allows no prepayment; or o you have reached age 55 and have separated from service. In addition, particular groups may receive one or more of the following waivers: (1) You sever from employment with your employer. (2) The withdrawal is made to satisfy minimum distribution require ments. (3) You elect a withdrawal that qualifies as a hardship or unforesee able emergency withdrawal under the Code. (4) You have qualified to receive Social Security disability benefits as certified by the Social Security Administration or you are totally disabled. Total disability is your incapacity, resulting from injury or disease, to engage in any occupation for remuneration or profit. Such total disability must be certified as having been continuous for a period of at least six months prior to notice of claim and you must continue to be deemed totally disabled. Written notice of claim must be given to us during your lifetime and during the period of total disability prior to each withdrawal. Along with the Notice of Claim, you must submit acceptable proof of disability. Such proof of disability must be either (a) evidence of Social Security disability determination or (b) a statement from an independent U.S. licensed physician stating that you meet the definition of total disability as stated above. Such certification must be resubmitted every 12 months. Failure to furnish proof of disability within the required time will not reduce any claim if it was not reasonably possible to give proof within such time. Such proof must be furnished as soon as reasonably possible and in no event, except in the absence of legal capacity, later than one year from the time proof is otherwise required. (5) We receive proof satisfactory to us that your life expectancy is six months or less (such proof must include, but is not limited to, certification by a licensed physician). (6) You are confined to a nursing home for more than 90 days (or such other period, as required in your state) as verified by a licensed physician. A nursing home for this purpose means one that 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 custo dial nursing care; -- it provides continuous room and board to three or more per sons; -- 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 resi dents. 37 Charges and expenses (7) The employer elects to move the plan assets to a different funding vehicle after five contract years. (8) The withdrawal is made to provide any annuity benefits that we offer as requested by your employer. The withdrawal charge will apply if the condition as described in items 4 through 6 above existed at the time participation under the contract began or if the condition began within the 12 month period following such participation. See Appendix IV, later in this prospectus for information on state availability and variations with respect to this charge. In instances where a withdrawal charge applies, other than where your participation under the contract is terminated, in order to give you the exact dollar amount of the withdrawal requested, we deduct the amount of the withdrawal and the amount of the withdrawal charges from your account value. Any amount deducted to pay withdrawal charges is also subject to a withdrawal charge. We deduct the amount of the withdrawal and the withdrawal charge pro rata from the variable investment options and from the guaranteed interest option. If these amounts are insufficient we will make up the required amounts from the fixed maturity options to the extent you have values in those options. If we make up the required amounts from the fixed maturity options, a market value adjustment will apply. In the case where you terminate participation under the contract, we will pay your account value after the withdrawal charge has been imposed (cash value). CHARGES FOR STATE PREMIUM AND OTHER APPLICABLE TAXES We deduct a charge designed to approximate certain taxes that may be imposed on us, such as premium taxes in your state. Generally, we deduct the charge from the amount applied to provide an annuity payout option. The current tax charge that might be imposed varies by jurisdiction and ranges from 0% to 1%. VARIABLE IMMEDIATE ANNUITY PAYOUT OPTION ADMINISTRATIVE FEE We deduct a fee of $350 from the amount to be applied to the Variable Immediate Annuity payout option. This option may not be available at the time you elect to begin receiving annuity payouts or it may have a different charge. CHARGES THAT THE TRUSTS DEDUCT The Trusts deduct charges for the following types of fees and expenses: o Management fees ranging from 0.10% to 1.20%. o 12b-1 fees of 0.25% for Class IB/B shares. o Operating expenses, such as trustees' fees, independent auditors' fees, legal counsel fees, administrative service fees, custodian fees, and liability insurance. o Investment-related expenses, such as brokerage commissions. These charges are reflected in the daily share price of each portfolio. Since shares of each Trust are purchased at their net asset value, these fees and expenses are, in effect, passed on to the variable investment options and are reflected in their unit values. Certain portfolios available under the contract in turn invest in shares of other portfolios of AXA Premier VIP Trust and EQ Advisors Trust (collectively, the "underlying portfolios"). The underlying portfolios each have their own fees and expenses, including management fees, operating expenses, and investment related expenses such as brokerage commissions. For more information about these charges, please refer to the prospectuses for the Trusts. VARIATIONS IN CHARGES For certain groups offered the EQUI-VEST(SM) Strategies contract, we may reduce the withdrawal charges and/or separate account charges. We may also reduce or waive the annual administrative charge. We may make other changes to the EQUI-VEST(SM) Strategies contract, including a change in the standard death benefit or the minimum initial contribution requirements; permitting additional circumstances under which the withdrawal charge is waived; and/or establishing different rates to maturity for the fixed maturity options. Our costs for sales, administration and mortality may vary based on a number of factors, including the size and type of group or sponsoring organization; the level of services provided by us or your financial professional; if we will be the sole contract provider; and the compensation we expect to pay the financial professional in connection with the sale of the contract(s). We take all these factors into account when reducing charges. In order for a group to be considered for reduced charges, it generally must meet certain requirements relative to existing and projected plan assets. We determine the applicable charge reductions and benefit adjustments according to our procedures in effect at the time we approve a group. We may change our pricing procedures from time to time or the required level of assets a group must have to be eligible for reduced charges. From time to time, an employer group has an existing arrangement with us, under which plan participants have individual contracts, and subsequently the employer purchases a group contract from us for new contributions and new participants only. Under these circumstances, we may make charge reductions or benefit adjustments under the existing individual contracts in order to reflect the same features, benefits and reduced costs as the group contract. We may also make charge reductions or benefit adjustments under existing individual contracts when an employer qualifies for a group contract but is unable to hold a group contract. Our pricing procedures for new groups may vary from the procedures we use for existing groups. For both new and established groups or sponsored arrangements that have formally requested a contract proposal from us, our prices may be negotiable. Price variations may impact the financial professional's compensation. An employer or plan administrator should ask about possible fee reductions or contract adjustments based on its situation. It would be in your best interest for your employer to formally request a contract proposal from us. Any variation in charges, pricing or benefits will reflect differences in our costs of selling the contracts and/or the contract services we or your financial services professional provide and will not be unfairly discriminatory. Charges and expenses 38 Groups may be governed by federal income tax rules, ERISA or both. We make no representations with regard to the impact of these and other applicable laws on such programs. We recommend that employers, trustees and others purchasing or making contracts available for purchase under such programs seek the advice of their own legal and benefits advisers. 39 Charges and expenses 6. Payment of death benefit - -------------------------------------------------------------------------------- YOUR BENEFICIARY AND PAYMENT OF BENEFIT You designate your beneficiary when you apply for your certificate. You may change your beneficiary at any time. The change will be effective on the date the written request for the change is received in our processing office. We are not responsible for any beneficiary change request that we do not receive. We will send you a written confirmation when we receive your request. EFFECT OF YOUR DEATH If you die before the annuity payments begin, we will pay the death benefit to your beneficiary. HOW DEATH BENEFIT PAYMENT IS MADE We will pay the death benefit to the beneficiary in the form of the annuity payout option you have chosen. If you have not chosen an annuity payout option as of the time of your death, the beneficiary will receive the death benefit in a single sum. However, subject to any exceptions in the contract, our rules and applicable federal income tax rules, the beneficiary may elect to apply the death benefit to one or more annuity payout options we offer at the time. See "Your annuity payout options" under "Accessing your money" earlier in this prospectus. Please note that you may elect only a life annuity or an annuity that does not extend beyond the life expectancy of the beneficiary. Single sum payments generally are paid through the AXA Equitable Access Account, an interest bearing account with check writing privileges. The AXA Equitable Access Account is part of AXA Equitable's general account. Beneficiaries have immediate access to the proceeds by writing a check on the account. We pay interest from the date the single sum is deposited into the Access Account until the account is closed. BENEFICIARY CONTINUATION OPTION Upon your death, your beneficiary may generally elect to keep the certificate in your name and receive distributions under the certificate instead of receiving the death benefit in a single sum. This feature must be elected by September 30th of the year following the calendar year of your death and before any other inconsistent election is made. Beneficiaries who do not make a timely election will not be eligible for this option. If the election is made, then as of the date we receive satisfactory proof of death, any required instructions, information and forms necessary to effect the beneficiary continuation option feature, we will increase the account value to equal the applicable death benefit if such death benefit is greater than such account value. The increase in account value will be allocated to the investment options according to the allocation percentages we have on file for your certificate. Generally, payments will be made once a year to the beneficiary over the beneficiary's life expectancy (determined in the calendar year after your death and determined on a term certain basis). These payments must begin no later than December 31st of the calendar year after the year of your death. For sole spousal beneficiaries, payments may begin by December 31st of the calendar year in which you would have reached age 70-1/2, if such time is later. The determination of spousal status is made under applicable state law; however, in the event of a conflict between federal and state law, we follow federal rules. If you die before your Required Beginning Date for required minimum distributions as discussed in "Tax information" later in this prospectus, the beneficiary may choose the "5-year rule" instead of annual payments over life expectancy. If the beneficiary chooses this option, the beneficiary may take withdrawals as desired, but the entire account value must be fully withdrawn by December 31st of the calendar year which contains the fifth anniversary of your death. Under the beneficiary continuation option: o The certificate continues with your name on it for the benefit of your beneficiary. o This feature is only available if the beneficiary is an individual. Certain trusts with only individual beneficiaries will be treated as individuals for this purpose. o If there is more than one beneficiary, each beneficiary's share will be separately accounted for. It will be distributed over the beneficiary's own life expectancy, if payments over life expectancy are chosen. o The minimum amount that is required in order to elect the beneficiary continuation option is $5,000 for each beneficiary. o The beneficiary may make transfers among the investment options, but no additional contributions will be permitted. o Loans will no longer be available. o The standard death benefit and the enhanced death benefit provisions will no longer be in effect. o The beneficiary may choose at any time to withdraw all or a portion of the account value and no withdrawal charges will apply. o Any partial withdrawal must be at least $300. o Your beneficiary will have the right to name a beneficiary to receive any remaining interest in your certificate. o Upon the death of your beneficiary, the beneficiary he or she has named has the option to either continue taking required minimum distributions based on the remaining life expectancy of the deceased beneficiary or to receive any remaining interest in the certificate in a lump sum. The option elected will be processed when we receive satisfactory proof of death, any required instructions for the method of payment and any required information and forms necessary to effect payment. Payment of death benefit 40 7. Tax information - -------------------------------------------------------------------------------- TAX INFORMATION AND ERISA MATTERS OVERVIEW This section of the prospectus discusses the current federal income tax rules that generally apply to annuity contracts which may be used to fund certain employer-sponsored retirement plans. Federal income tax rules include the United States laws in the Internal Revenue Code, and Treasury Department Regulations and Internal Revenue Service ("IRS") interpretations of the Internal Revenue Code. These tax rules may change without notice. We cannot predict whether, when, or how these rules could change. Any change could affect contracts purchased before the change. Congress may also consider proposals in the future to comprehensively reform or overhaul the United States tax and retirement systems, which if enacted, could affect the tax benefits of a contract. We cannot predict, what, if any, legislation will actually be proposed or enacted. We cannot provide detailed information on all tax aspects of the plans or contracts. Moreover, the tax aspects that apply to a particular employer's plan or contract may vary depending on the facts applicable to that employer. We do not discuss state income and other state taxes, federal income tax and withholding rules for non-U.S. taxpayers, or federal gift and estate taxes. Rights or values under plans or contracts or payments under the contracts, for example, amounts due to beneficiaries, may be subject to federal or state gift, estate or inheritance taxes. Employers should not rely only on this document, but should consult their tax adviser before choosing EQUI-VEST(SM) Strategies. CHOOSING A CONTRACT TO FUND A RETIREMENT ARRANGEMENT Generally, there are two types of funding vehicles that are available for 403(b) plans: a 403(b) TSA annuity contract such as an EQUI-VEST(SM) Strategies TSA or a 403(b)(7) custodial account. An EDC plan may be funded by specified annuity contracts, custodial accounts or trustee arrangements. How these arrangements work, including special rules applicable to each, are described in the specific sections for each type of arrangement below. Employers should be aware that the funding vehicle for a tax-qualified arrangement does not provide any tax deferral benefit beyond that already provided by the Code for all permissible funding vehicles. Before choosing an annuity contract, therefore, employers should consider the annuity's features and benefits, such as EQUI-VEST(SM) Strategies standard death benefit, enhanced death benefit, selection of variable investment options, provision of a guaranteed interest option and fixed maturity options and choices of payout options, as well as the features and benefits of other permissible funding vehicles and the relative costs of annuities and other such arrangements. Employers should be aware that cost may vary depending on the features and benefits made available and the charges and expenses of the portfolios. Certain provisions of the Treasury Regulations on required minimum distributions concerning the actuarial present value of additional contract benefits could increase the amount required to be distributed from annuity contracts funding 403(b) plans and 457(b) plans. For this purpose additional annuity contract benefits may include, but are not limited to, enhanced death benefits. Employers should consider the potential implication of these Regulations before choosing this annuity contract. SPECIAL RULES FOR TAX-FAVORED RETIREMENT PROGRAMS Employer-sponsored retirement plans can use annuity contracts to fund the plan unless the plan specifically prohibits annuity contracts as a funding vehicle. Federal income tax rules prescribe how a retirement plan qualifies for tax-favored status and set requirements for plan features, including: o participation and coverage; o nondiscrimination; o vesting and funding; o limits on contributions, distributions, and benefits; o withholding; o reporting and disclosure; and o penalties. - -------------------------------------------------------------------------------- State income tax rules covering contributions to and distributions from employer-sponsored retirement programs may differ from federal income tax rules. It is the responsibility of the employer, plan trustee and plan administrator to satisfy federal income tax, state income tax and other state rules and ERISA rules. - -------------------------------------------------------------------------------- ADDITIONAL "SAVER'S CREDIT" FOR SALARY REDUCTION CONTRIBUTIONS TO CERTAIN PLANS You may be eligible for a nonrefundable income tax credit for salary reduction contributions you make to a 403(b) plan or governmental employer 457(b) EDC plan as well as contributions you make to other eligible retirement plans or to a traditional IRA or Roth IRA. If you qualify, you may take this credit even though your salary reduction contribution is already excluded from tax. To take advantage of this "saver's credit" you must be age 18 or over before the end of the taxable year for which the contribution is made. You cannot be a full-time student or claimed as a dependent on another's tax return, and your adjusted gross income cannot exceed $50,000 ($53,000, after cost of living adjustment for 2008). The amount of the tax credit you can get varies from 10% of your contribution to 50% of your contribution, and depends on your income tax filing status and your adjusted gross income. The maximum annual contribution eligible for the saver's credit is $2,000. If you and your spouse file a joint return, and each of 41 Tax information you qualifies, each is eligible for a maximum annual contribution of $2,000. Your saver's credit may also be reduced if you take or have taken a taxable distribution from any plan eligible for a saver's credit contribution -- even if you make a contribution to one plan and take the distribution from another plan - -- during the "testing period." The "testing period" begins two years before the year for which you make the contribution and ends when your tax return is due for the year for which you make contribution including extensions TAX-SHELTERED ANNUITY ARRANGEMENTS (TSAS) GENERAL This section of the Prospectus reflects our current understanding of some of the special federal income tax rules applicable to annuity contracts used to fund employer plans under Section 403(b) of the Internal Revenue Code. We refer to these contracts as "403(b) annuity contracts" or "Tax Sheltered Annuity contracts (TSAs)". - -------------------------------------------------------------------------------- The disclosure generally assumes that the TSA has 403(b) contract status or qualifies as a 403(b) contract. Due to Internal Revenue Service and Treasury regulatory changes in 2007 which become fully effective on January 1, 2009, contracts issued prior to September 25, 2007 which qualified as 403(b) contracts under the rules at the time of issue may lose their status as 403(b) contracts or have the availability of transactions under the contract restricted as of January 1, 2009 unless the individual's employer or the individual takes certain actions. Please consult your tax adviser regarding the effect of these rules (which may vary depending on the owner's employment status, plan participation status, and when and how the contract was acquired) on your personal situation. - -------------------------------------------------------------------------------- FINAL REGULATIONS UNDER SECTION 403(B) The IRS and the Treasury Department published final Treasury Regulations under Section 403(b) of the Code (2007 Regulations). As a result, there are significant revisions to the establishment and operation of plans and arrangements under Section 403(b) of the Code, and the contracts issued to fund such plans. These rules become fully effective on January 1, 2009, but various transition rules apply beginning in 2007. There are a number of uncertainties regarding the application of these rules. The 2007 Regulations raise a number of questions as to the effect of the 2007 Regulations on 403(b) TSA contracts issued prior to the effective date of the 2007 Regulations. The IRS has issued guidance intended to clarify some of these questions, and may issue further guidance in future years. EMPLOYER PLAN REQUIREMENT. The thrust of the 2007 Regulations is to require a written plan document for Section 403(b) plans. As of January 1, 2009, employers sponsoring 403(b) plans must have a written plan designating administrative responsibilities for various functions under the plan, and the plan in operation must conform to the plan terms. As part of this process, the sponsoring employer must also designate the insurance companies or mutual fund companies to which it will make contributions to purchase 403(b) annuity contracts or 403(b)(7) custodial accounts under its 403(b) plan. These companies are typically referred to as "approved providers" or "approved vendors" under the employer's 403(b) plan, although such terms are not used in the 2007 Regulations. If AXA Equitable is not an approved provider under an employer's 403(b) plan, active participants in that employer's plan may have to transfer funds from their EQUI-VEST(SM) TSA contracts to another 403(b) plan funding vehicle in a contract exchange under the same plan in order to retain 403(b) status for those funds. GENERAL; SPECIAL EMPLOYER RULES An employer eligible to maintain a 403(b) plan for its employees may make contributions to purchase a 403(b) funding vehicle for the benefit of the employee. These contributions, if properly made, will not be currently taxable compensation to the employee. Moreover, the employee will not be taxed on the earnings in the 403(b) funding vehicle until he/she takes distributions. Generally, there are two types of funding vehicles available to fund 403(b) plans: an annuity contract under Section 403(b)(1) of the Internal Revenue Code or a custodial account that invests only in mutual funds and which is treated as an annuity contract under section 403(b)(7) of the Code. Both types of 403(b) arrangements qualify for tax deferral. Two different types of employers are eligible to maintain 403(b) plans: public schools and specified tax-exempt organizations under Section 501(c)(3) of the Code. CONTRIBUTIONS TO TSAS There are three ways you can make contributions to this EQUI-VEST(SM) Strategies TSA contract: o annual contributions made through the employer's payroll; or o with employer or plan approval, a rollover from another eligible retirement plan; or o with employer or plan approval, a plan-to-plan direct transfer of assets or a contract exchange under the same plan. ANNUAL CONTRIBUTIONS MADE THROUGH THE EMPLOYER'S PAYROLL. Annual contributions to 403(b) TSA contracts made through the employer's payroll are limited. (Tax-free plan to plan direct transfer contributions from another 403(b) plan, contract exchanges under the same plan, and rollover contributions from another eligible retirement plan are not subject to these annual contribution limits.) Commonly, some or all of the contributions made to a TSA are made under a salary reduction agreement between the employee and the employer. These contributions are called "salary reduction contributions" or "elective deferral contributions" and are generally made on a pre-tax basis. However, a TSA can also be wholly or partially funded through non-elective employer contributions or contributions treated as after-tax employee contributions. If the employer's plan permits, and as reported to us by the employer, an employee may designate some or all of salary reduction contributions as "designated Roth contributions" under Section 402A of the Code, which are made on an after-tax basis. Some employer contributions may be subject to vesting under the employer's plan. The annual limit on employer and employee contributions on behalf of an employee to defined contribution plans of an employer for 2008 is Tax information 42 the lesser of $46,000 (after adjustment for cost of living changes) or 100% of compensation. When figuring out the contribution limit you have to: o include reallocated forfeitures and voluntary nondeductible employee contributions; o include compensation from the employer in the form of elective deferrals and excludible contributions under Section 457(b) EDC plans and "cafeteria" plans. These are plans giving employees a choice between cash and deferred benefits or specified excludible health and welfare benefits; and o disregard compensation or earned income of more than a specified amount. This amount is $230,000 for 2008. This amount may be further adjusted for cost of living changes in future years. "Salary reduction" or "elective deferral" contributions made under a 403(b) plan or other cash or deferred arrangement are limited to $15,500 for 2008, and may be further adjusted for cost of living changes in future years. This limit applies to the total of all elective deferrals under all tax-favored plans in which the individual participates, from all employers, for example, also including salary reduction contributions under 401(k) plans. If the plan permits, an individual who is at least age 50 at any time during 2008 can make up to $5,000 additional salary reduction contributions for 2008. Special provisions may allow certain participants with at least 15 years of service to make "catch-up" contributions to compensate for smaller contributions made in previous years. If contributions to a 403(b) TSA contract exceed the applicable limit in any year, the excess will be taxable to the employee as ordinary income. In certain situations, we may distribute excess contributions to avoid tax penalties. Any excess deferral contributions which are not withdrawn by April 15th after the year of the deferral may cause the contract to fail 403(b) rules. ROLLOVER CONTRIBUTIONS. After a TSA contract has been established with 403(b) plan source funds, federal tax law permits rollover contributions to be made to a TSA contract from these sources: qualified plans, governmental employer 457(b) plans and traditional IRAs, as well as other 403(b) plan funding vehicles. The recipient 403(b) plan must allow such contributions to be made. Generally, funds may be rolled over when a plan participant has a distributable event from an eligible retirement plan as a result of: o termination of employment with the employer who provided the funds for the plan; or o reaching age 59-1/2 even if still employed; or o disability (special federal income tax definition). If the source of the rollover contribution is pre-tax funds from a traditional IRA, no specific event is required. You should discuss with your tax adviser whether you should consider rolling over funds from one type of tax-qualified retirement plan to another because the funds will generally be subject to the rules of the recipient plan. For example, funds in a governmental employer 457(b) plan are not subject to the additional 10% federal income tax penalty for premature distributions, but they may become subject to this penalty if you roll the funds to a different type of eligible retirement plan and subsequently take a premature distribution. Further, in light of the restrictions on the ability to take distributions or loans from a 403(b) contract without plan or employer approval under the 2007 Regulations, a plan participant should consider carefully whether to roll an eligible rollover distribution (which is no longer subject to distribution restrictions) to a 403(b) plan funding vehicle, or to traditional IRA instead. If the recipient plan separately accounts for funds rolled over from another eligible retirement plan, the IRS has ruled that an exception is available in certain situations to withdrawal restrictions that would otherwise apply to the rollover contribution funds in the recipient plan. ROLLOVERS OF AFTER-TAX CONTRIBUTIONS FROM CERTAIN ELIGIBLE RETIREMENT PLANS NON-ROTH AFTER-TAX CONTRIBUTIONS. Any non-Roth after-tax contributions you have made to a qualified plan or 403(b) plan (but not a governmental employer 457(b) EDC plan) may be directly rolled over to a 403(b) TSA which agrees to do required separate accounting. This can only be done in a direct rollover, not a rollover you do yourself. Non-Roth after-tax contributions in a traditional IRA cannot be rolled over from the traditional IRA into a TSA. DESIGNATED ROTH CONTRIBUTIONS. If the after-tax contributions are in a "designated Roth account" under a 403(b) plan or a 401(k) plan which permits designated Roth elective deferral contributions to be made, they can be rolled into another "designated Roth account" under a 403(b) plan or a 401(k) plan. They cannot be rolled over to a non-Roth after-tax contribution account. You may not roll over Roth IRA funds into a designated Roth account under a 403(b) plan or a 401(k) plan. We are not currently accepting rollovers of designated Roth account funds from another 403(b) plan or 401(k) plan into an EQUI-VEST(SM) Strategies TSA contract. LIMITATIONS ON INDIVIDUAL INITIATED DIRECT TRANSFERS. The 2007 Regulations revoke Revenue Ruling 90-24 (Rev. Rul. 90-24), effective January 1, 2009. Prior to the 2007 Regulations, Rev. Rul. 90-24 had permitted individual-initiated, tax-free direct transfers of funds from one 403(b) contract to another, without reportable taxable income to the individual. Under transitional rules in the 2007 Regulations and other IRS published guidance, direct transfers made after September 24, 2007 may still be permitted with plan or employer approval as described below. DIRECT TRANSFER CONTRIBUTIONS. A tax-free direct transfer occurs when changing the 403(b) plan funding vehicle, even if there is no distributable event. Under a direct transfer a plan participant does not receive a distribution. The 2007 Regulations provide for two types of direct transfers between 403(b) funding vehicles: "plan-to-plan transfers" and "contract exchanges within the same 403(b) plan". 403(b) plans do not have to offer these options. A "plan-to-plan transfer" must meet the following conditions: (i) both the source 403(b) plan and the recipient 43 Tax information 403(b) plan permit plan-to-plan transfers; (ii) the transfer from one 403(b) plan to another 403(b) plan is made for a participant (or beneficiary of a deceased participant) who is an employee or former employee of the employer sponsoring the recipient 403(b) plan; (iii) immediately after the transfer the accumulated benefit of the participant (or beneficiary) whose assets are being transferred is at least equal to the participant's (or beneficiary's) accumulated benefit immediately before the transfer; (iv) the recipient 403(b) plan imposes distribution restrictions on transferred amounts at least as stringent as those imposed under the source 403(b) plan; and (v) if the plan-to-plan transfer is not a complete transfer of the participant's (or beneficiary's) interest in the source 403(b) plan, the recipient 403(b) plan treats the amount transferred as a continuation of a pro rata portion of the participant's (or beneficiary's) interest in the source 403(b) plan (for example with respect to the participant's interest in any after-tax employee contributions). A "contract exchange within the same 403(b) plan" must meet the following conditions: (i) the 403(b) plan under which the contract is issued must permit contract exchanges; (ii) immediately after the exchange the accumulated benefit of the participant (or beneficiary of a deceased participant) is at least equal to the participant's (or beneficiary's) accumulated benefit immediately before the exchange (taking into account the accumulated benefit of that participant (or beneficiary) under both section 403(b) contracts immediately before the exchange); (iii) the contract issued in the exchange is subject to distribution restrictions with respect to the participant that are not less stringent than those imposed on the contract being exchanged; and (iv) the employer sponsoring the 403(b) plan and the issuer of the contract issued in the exchange agree to provide each other with specified information from time to time in the future ("an information sharing agreement"). The shared information is designed to preserve the requirements of Section 403(b), primarily to comply with loan requirements, hardship withdrawal rules, and distribution restrictions. We currently do not offer a 403(b) contract for a beneficiary of a deceased participant as described above. TSA contracts issued by AXA Equitable pursuant to a Rev. Rul. 90-24 direct transfer where applications and all transfer paperwork were received by our processing office in good order prior to September 25, 2007 are "grandfathered" as to 403(b) status. However, future transactions such as loans and distributions under such "grandfathered" contracts may result in adverse tax consequences to the owner unless the contracts are or become part of the employer's 403(b) plan, or the employer enters into an information sharing agreement with us. We currently do not accept direct transfers of designated Roth account funds under another 403(b) arrangement. SPECIAL RULE FOR ROLLOVER OR DIRECT TRANSFER CONTRIBUTIONS AFTER AGE 70-1/2. The amount of any rollover or direct transfer contributions made to a 403(b) annuity contract must be net of the required minimum distribution for the tax year in which the contract is issued if the owner is at least age 70-1/2 in the calendar year the contribution is made, and has retired from service with the employer who sponsored the plan or provided the funds to purchase the 403(b) annuity contract which is the source of the contribution. DISTRIBUTIONS FROM TSAS GENERAL Generally, after the 2007 Regulations, employer or plan administrator consent is required for loan, withdrawal or distribution transactions under a 403(b) annuity contract. Processing of a requested transaction will not be completed pending receipt of information required to process the transaction under an information sharing agreement between AXA Equitable and the employer sponsoring the plan. Similar rules apply to loan and withdrawal requests for qualified plans. WITHDRAWAL RESTRICTIONS. You generally are not able to withdraw or take payment from your TSA contract unless you reach age 59-1/2, die, become disabled (special federal income tax definition), sever employment with the employer which provided the funds for the TSA contract, or suffer financial hardship (special federal income tax definition). Hardship withdrawals are limited to the amount of your salary reduction contributions without earnings and must be approved by the employer or the plan. The plan may also impose withdrawal restrictions on employer contributions and related earnings. These restrictions do not apply to the amount directly transferred to your TSA certificate that represents your December 31, 1988, account balance attributable to a 403(b) annuity contract and earnings. To take advantage of this grandfathering you must properly notify us in writing at our processing office of your December 31, 1988, account balance if you have qualifying amounts directly transferred to your TSA certificate. If any portion of the funds directly transferred to your TSA certificate is attributable to amounts that you invested in a 403(b)(7) custodial account, such amounts, including earnings, are subject to withdrawal restrictions. With respect to the portion of the funds that were never invested in a 403(b)(7) custodial account, these restrictions apply to the salary reduction (elective deferral) contributions to a TSA annuity contract you made and any earnings on them. Account values attributable to employer contributions properly reported to us at the time of transfer will not be subject to restriction, unless required by the employer's plan. Withdrawals from TSA contracts with designated Roth contribution funds are subject to these restrictions on distributions from TSA contracts. If the recipient plan separately accounts for funds rolled over from another eligible retirement plan, the IRS has ruled that an exception is available in certain situations to withdrawal restrictions that would otherwise apply to the rollover contribution funds in the recipient plan. TAX TREATMENT OF DISTRIBUTIONS FROM TSAS. Amounts held under TSAs are generally not subject to federal income tax until benefits are distributed. Distributions include withdrawals and annuity payments. Death benefits paid to a beneficiary are also taxable distributions unless an exception applies. (For example, there is a limited exclusion from gross income for distributions used to pay qualified health insurance premiums of an eligible retired public safety officer from eligible governmental employer qualified plans, 403(b) plans and 457(b) plans.) Amounts distributed from TSAs are includable in gross income Tax information 44 as ordinary income, not capital gain. Distributions from TSAs may be subject to 20% federal income tax withholding. See "Federal and state income tax withholding and information reporting" below. In addition, TSA distributions may be subject to additional tax penalties. If you have made after-tax contributions, both non-Roth and designated Roth, you will have a tax basis in your TSA certificate, which will be recovered tax-free. Unless we have been provided acceptable documentation for the amounts of any after-tax contributions to your TSA certificate, we assume that all amounts distributed from your TSA certificate are pre-tax, and we withhold tax and report accordingly. DESIGNATED ROTH CONTRIBUTION ACCOUNT. Section 402A of the Code provides that a qualified distribution from a designated Roth account is not includible in income. A qualified distribution can only be made on specified events such as attaining age 59-1/2 or death. Also, because there can be no qualified distribution until after the expiration of a 5-year aging period beginning with the date an individual first makes a designated Roth contribution to a designated Roth account under the applicable retirement plan, the earliest a qualified distribution from a designated Roth contribution account could be made is 2011. Therefore, earnings attributable to a distribution from a designated Roth account may be includible in income. DISTRIBUTIONS BEFORE ANNUITY PAYMENTS BEGIN. On a total surrender, the amount received in excess of the investment in the contract is taxable. We will report the total amount of the distribution. The amount of any partial distribution from a TSA prior to the annuity starting date is generally taxable, except to the extent that the distribution is treated as a withdrawal of after-tax contributions. Distributions are normally treated as pro rata withdrawals of after-tax contributions and earnings on those contributions. This treatment is the same for non-qualified distributions from a designated Roth account under a 403(b) plan. ANNUITY PAYMENTS. If you elect an annuity payout option, the nontaxable portion of each payment is calculated by dividing your investment in the contract by an expected return determined under an IRS table prescribed for qualified annuities. The balance of each payment is fully taxable. The full amount of the payments received after your investment in the contract is recovered is fully taxable. If you (and your beneficiary under a joint and survivor annuity) die before recovering the full investment in the contract, a deduction is allowed on your (or your beneficiary's) final tax return. PAYMENTS TO A BENEFICIARY AFTER YOUR DEATH. Death benefit distributions from a TSA generally receive the same tax treatment as distributions during your lifetime. In some instances, distributions from a TSA made to your surviving spouse may be rolled over to a traditional IRA or other eligible retirement plan. A surviving spouse may also be eligible to roll over a TSA death benefit to a Roth IRA in a taxable conversion rollover, beginning in 2008. A non-spousal death beneficiary may be able to directly roll over death benefits to a new traditional inherited IRA under certain circumstances. LOANS FROM TSAS. The following discussion also applies to loans under governmental employer 457(b) EDC plans. See "Public employee deferred compensation plans (EDC Plans)" later in this prospectus. If the plan permits, loans are available from a 403(b) plan. Loans are subject to federal income tax limits and may also be subject to the limits of the plan from which the funds came. Federal income tax requirements apply even if the plan is not subject to ERISA. Please see Appendix IV later in this prospectus for any state restrictions you may be subject to if you take a loan. EFFECT OF 2007 REGULATIONS ON LOANS FROM TSAS. As a result of the 2007 Regulations loans are not available without employer or plan administrator approval. Loan processing may be delayed pending receipt of information required to process the loan under an information sharing agreement. Processing of a loan request will not be completed pending receipt of information required to process the transaction under an information sharing agreement between AXA Equitable and the employer sponsoring the plan. If loans are available: Loans are generally not treated as a taxable distribution. If the amount of the loan exceeds permissible limits under federal income tax rules when made, the amount of the excess is treated (solely for tax purposes) as a taxable distribution. Additionally, if the loan is not repaid at least quarterly, amortizing (paying down) interest and principal, the amount not repaid when due will be treated as a taxable distribution. Finally, unpaid loans may become taxable when the individual severs from employment with the employer which provided the funds for the contract. In addition, the 10% early distribution penalty tax may apply. We report the entire unpaid balance of the loan (including unpaid interest) as includable in income in the year of the default. The amount of the unpaid loan balance is reported to the IRS on Form 1099-R as a distribution. o The amount of a loan to a participant, when combined with all other loans to the participant from all qualified plans of the employer, cannot exceed the lesser of (1) the greater of $10,000 or 50% of the participant's nonforfeitable accrued benefits; and (2) $50,000 reduced by the excess (if any) of the highest outstanding loan balance over the previous twelve months over the outstanding loan balance of plan loans on the date the loan was made. Governmental employer 457(b) EDC plans and 403(b) plans are included in "all qualified plans of the employer" for this purpose. Also, for the purposes of calculating any subsequent loans which may be made under any plan of the same employer, a defaulted loan is treated as still outstanding even after the default is reported to the IRS. The amount treated as outstanding (which limits any subsequent loan) includes interest on the unpaid balance. o In general, the term of the loan cannot exceed five years unless the loan is used to acquire the participant's primary residence. EQUI-VEST(SM) Strategies TSA contracts have a term limit of 10 years for loans used to acquire the participant's primary residence. o All principal and interest must be amortized in substantially level payments over the term of the loan, with payments being made at least quarterly. In very limited circumstances, the repayment obligation may be temporarily suspended during a leave of absence. TAX-DEFERRED ROLLOVERS AND DIRECT TRANSFERS. If withdrawal restrictions discussed earlier do not apply, you may roll over any "eligible rollover 45 Tax information distribution" from a TSA into another eligible retirement plan which agrees to accept the rollover. The rollover may be a direct rollover or a rollover you do yourself within 60 days after you receive the distribution. To the extent rolled over, it remains tax-deferred. You may roll over a distribution of pre-tax funds from a TSA to any of the following: a qualified plan, a governmental employer 457(b) EDC plan, a traditional IRA or a TSA. A spousal beneficiary may also roll over death benefits to any of these. A non-spousal death beneficiary may be able to directly roll over death benefits to a new traditional inherited IRA under certain circumstances. Effective beginning in 2008, distributions from a 403(b) annuity contract can be rolled over to a Roth IRA. Such conversion rollover transactions are taxable. Any taxable portion of the amount rolled over will be taxed at the time of the rollover. Rollovers are subject to the Roth IRA conversion rules, which restrict conversions of traditional IRAs to Roth IRAs to taxpayers with adjusted gross income of no more than $100,000, whether single or married filing jointly. The recipient plan must agree to take the distribution. If you are rolling over from a 403(b) plan to a governmental employer 457(b) EDC plan, the recipient governmental employer 457(b) EDC plan must agree to separately account for the rolled-over funds. The taxable portion of most distributions will be eligible for rollover. However, federal income tax rules exclude certain distributions from rollover treatment including (1) periodic payments for life or for a period of 10 years or more, (2) hardship withdrawals and (3) any required minimum distributions under federal income tax rules. NON-ROTH AFTER-TAX CONTRIBUTIONS. Any non-Roth after-tax contributions you have made to a TSA only may be directly rolled over to another qualified plan or TSA which agrees to do required separate accounting. This can only be done in a direct rollover, not a rollover you do yourself. You may roll over any after-tax contributions you have made to a TSA to a traditional IRA (either in a direct rollover or a rollover you do yourself). When the recipient plan is a traditional IRA, you are responsible for recordkeeping and calculating the taxable amount of any distributions you take from that traditional IRA. After-tax contributions from a TSA which are rolled into a traditional IRA cannot be rolled back into a qualified plan or TSA. After-tax contributions may not be rolled into a governmental employer EDC plan. ROTH AFTER-TAX CONTRIBUTIONS. Amounts attributable to "designated Roth contributions" under a 403(b) plan may only be rolled over to a designated Roth account under another 403(b) plan or a 401(k) plan or to a Roth IRA. They cannot be rolled over to a non-Roth after-tax contribution account under a 403(b) plan or 401(k) plan. Before you decide to roll over your payment to another employer plan, you should check with the administrator of that plan about whether the plan accepts rollovers and, if so, the types of distributions it accepts. You should also check with the administrator of the receiving plan about any documents required to be completed before it will accept a rollover. You should discuss with your tax adviser the rules which may apply to the rolled over funds. For example, distributions from a governmental employer 457(b) EDC plan are generally not subject to the additional 10% federal income tax penalty for pre-age 59-1/2 distributions, which applies to other types of retirement plans. If you roll over funds from an eligible retirement plan which is not a governmental employer 457(b) EDC plan (qualified plan, 403(b) plan or traditional IRA) into a governmental employer 457(b) EDC plan, and you later take a distribution from the recipient government employer 457(b) EDC plan, those amounts generally remain subject to the penalty. You should check if the recipient plan separately accounts for funds rolled over from another eligible retirement plan, as the IRS has ruled that an exception is available in certain situations to withdrawal restrictions that would otherwise apply to the rollover contribution funds in the recipient plan. Direct 403(b) plan-to-plan transfers or contract exchanges under the same 403(b) plan, transfers of a 403(b) plan from one TSA to another are not distributions. If there is a mandatory distribution provision in your employer's plan for certain small amounts and you do not designate an eligible retirement plan to receive such a mandatory distribution, Treasury Regulations require a traditional IRA to be established on your behalf. DISTRIBUTION REQUIREMENTS TSAs are subject to required minimum distribution rules. See "Required minimum distributions" later in this prospectus. SPOUSAL CONSENT RULES If ERISA rules apply to your TSA you will need to get spousal consent for loans, withdrawals or other distributions if you are married when you request a withdrawal type transaction under the TSA contract. In addition, unless you elect otherwise with the written consent of your spouse, the retirement benefits payable under the plan must be paid in the form of a qualified joint and survivor annuity. A qualified joint and survivor annuity is payable for the life of the participant with a survivor annuity for the life of the spouse in an amount not less than one-half of the amount payable to the participant during his or her lifetime. In addition, if you are married, the beneficiary must be your spouse, unless your spouse consents in writing to the designation of another beneficiary. If you are married and you die before annuity 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 a contrary election was in effect. However, your surviving spouse may elect, before payments begin, to receive payments in any form permitted under the terms of the employer's plan and the contract. EARLY DISTRIBUTION PENALTY TAX A penalty tax of 10% of the taxable portion of a distribution applies to distributions from a TSA before you reach age 59-1/2. This is in addition to any income tax. There are exceptions to the extra penalty tax. Some of the available exceptions to the pre-age 59-1/2 penalty tax include distributions made: o on or after your death; or o because you are disabled (special federal income tax definition); or o to pay for certain extraordinary medical expenses (special federal income tax definition); or Tax information 46 o in any form of payout after you have separated from service (only if the separation occurs during or after the calendar year you reach age 55); or o in a payout in the form of substantially equal periodic payments made at least annually over your life (or your life expectancy), or over the joint lives of you and your beneficiary (or your joint life expectancies) using an IRS-approved distribution method (only after you have separated from service at any age). PUBLIC EMPLOYEE DEFERRED COMPENSATION PLANS (EDC PLANS) SPECIAL EMPLOYER AND OWNERSHIP RULES. Employers eligible to maintain EDC plans under Section 457(b) of the Code include governmental entities such as states, municipalities and state agencies (governmental employer). Since EQUI-VEST(SM) Strategies(SM) is open only to governmental employer EDC plans no rules applicable to tax-exempt employees are discussed. An employer can fund its EDC plan in whole or in part with annuity contracts purchased for participating employees and their beneficiaries. These employees do not have to include in income the employer's contributions to purchase the EDC contracts or any earnings until they actually receive funds from a governmental employer EDC plan. The plan's assets must be held in trust for the exclusive benefit of employees. An annuity contract can be a trust equivalent if the contract includes the trust rules. Regardless of contract ownership, the EDC plan may permit the employee to choose among various investment options. CONTRIBUTION LIMITS. The maximum contribution for 2008 is the lesser of $15,500 or 100% of includible compensation. Special rules may permit "catch-up" contributions during the three years preceding normal retirement age under the EDC plan. If the plan provides for catch-up contributions for any of the 3 years of service preceding the plan retirement age, the maximum contribution for an individual eligible to make such catch-up contributions is twice the otherwise applicable dollar limit, or $31,000 for 2008. If the plan permits, an individual at least age 50 at any time during 2008 may be able to make up to $5,000 additional salary reduction contributions. An individual must coordinate this "age 50" catch-up with the other "last 3 years of service" catch up. ROLLOVER CONTRIBUTIONS. Eligible rollover distributions of pre-tax funds from 403(b) plans, 401(a) qualified plans, other governmental employer EDC plans and traditional IRAs may be rolled over into other such plans. The recipient plan must agree to take the distribution. If the source of the eligible rollover distribution is not a governmental employer EDC plan and the recipient plan is a governmental employer EDC plan, the recipient governmental employer EDC plan must agree to separately account for the rolled-over funds. Before you decide to roll over your payment to another employer plan, you should check with the administrator of that plan about whether the plan accepts rollovers and, if so, the types of distributions it accepts. You should also check with the administrator of the receiving plan about any documents required to be completed before it will accept a rollover. You should discuss with your tax adviser whether you should consider rolling over funds from one type of tax qualified retirement plan to another, because the funds will generally be subject to the rules of the recipient plan. For example, funds in a governmental employer EDC plan are not subject to the additional 10% federal income tax penalty for premature distributions, but they may become subject to this penalty if you roll the funds to a different type of eligible retirement plan and subsequently take a premature distribution. WITHDRAWAL LIMITS. In general, no amounts may be withdrawn from an EDC plan prior to the calendar year in which the employee attains age 70-1/2, severs from employment with the employer or is faced with an unforeseeable emergency. Small amounts (up to $5,000) may be taken out by the plan participant or forced out by the plan under certain circumstances, even though the plan participant may still be working and amounts would not otherwise be made available. Such a mandatory forced-out distribution is an eligible rollover distribution. Treasury Regulations require a direct rollover to a traditional IRA established for a plan participant who does not affirmatively designate an eligible retirement plan to receive such a mandatory distribution. For funds rolled over from another eligible retirement plan, the IRS has ruled that an exception is available in certain situations to withdrawal restrictions that would otherwise apply to the rollover contribution funds in the recipient plan, because the funds are accounted for separately. DISTRIBUTION REQUIREMENTS. EDC plans are subject to minimum distribution rules similar to those that apply to TSAs. See "Required minimum distributions" later in this prospectus. That is, distributions from EDC plans generally must start no later than April 1st of the calendar year following the calendar year in which the employee attains age 70-1/2 or retires from service with the employer maintaining the EDC plan, whichever is later. Failure to make required distributions may cause the disqualification of the EDC plan. Disqualification may result in current taxation of EDC plan benefits. In addition, a 50% penalty tax is imposed on the difference between the required distribution amount and the amount actually distributed, if any. It is the plan administrator's responsibility to see that minimum distributions from an EDC plan are made. If the EDC plan provides, a deceased employee's beneficiary may be able to elect to receive death benefits in installments instead of a lump sum, and the payments will be taxed as they are received. TAX TREATMENT OF DISTRIBUTIONS. The taxation of distributions from a governmental employer EDC plan is generally the same as the tax treatment of distributions from TSAs discussed earlier in this prospectus. That is, amounts are generally not subject to tax until actually distributed and amounts may be subject to 20% federal income tax withholding. See "Federal and State income tax withholding and information reporting" later in this prospectus. However, distributions from a governmental employer EDC plan are generally not subject to the additional 10% federal income tax penalty for pre-age 59-1/2 distributions. TAX-DEFERRED ROLLOVERS. A participant in a governmental employer EDC plan, or in certain cases, a beneficiary, may be able to roll over an eligible rollover distribution from the plan to a traditional IRA, quali- 47 Tax information fied plan or 403(b) plan, as well as to another governmental employer EDC plan. The recipient plan must agree to take the distribution. If you roll over funds from a governmental employer EDC plan into a different type of eligible retirement plan (qualified plan, 403(b) plan, or traditional IRA), any subsequent distributions may be subject to the 10% federal income tax penalty noted above. Before you decide to roll over your payment to another employer plan, you should check with the administrator of that plan about whether the plan accepts rollovers and, if so, the types of distributions it accepts. You should also check with the administrator of the receiving plan about any documents required to be completed before it will accept a rollover. You may roll over a distribution from a governmental employer 457(b) plan to any of the following: a 403(b) plan funding vehicle, a qualified plan, another governmental employer 457(b) plan (separate accounting required) or a traditional IRA. A spousal beneficiary may also roll over death benefits as above. A non-spousal death beneficiary may be able to directly roll over death benefits to a new traditional inherited IRA under certain circumstances. Effective beginning in 2008, distributions from a governmental employer 457(b) plan can be rolled over to a Roth IRA. Such conversion rollover transactions are taxable. Any taxable portion of the amount rolled over will be taxed at the time of the rollover. Rollovers are subject to the Roth IRA conversion rules, which restrict conversions of traditional IRAs to Roth IRAs to taxpayers with adjusted gross income of no more than $100,000, whether single or married filing jointly. LOANS. Same as for TSAs. (See "Loans from TSAs" under "Distributions from TSAs" earlier in this prospectus.) BACKGROUND ON REGULATIONS--REQUIRED MINIMUM DISTRIBUTIONS If you are a participant in a 403(b) plan or a governmental employer EDC plan, the required minimum distribution rules force you to start calculating and taking annual distributions from these tax-favored retirement plans and arrangements by a specified date. The beginning date depends on the type of plan or arrangement, and your age and retirement status. The distribution requirements are designed to use up your interest in the plan over your life expectancy. Whether the correct amount has been distributed is calculated on a year-by-year basis; there are no provisions to allow amounts taken in excess of the required amount to be carried back to other years. Distributions must be made according to rules in the Code and Treasury Regulations and the terms of the plan. Certain provisions of the Treasury Regulations require that the actuarial present value of additional annuity contract benefits must be added to the dollar amount credited for purposes of calculating certain types of required minimum distributions from annuity contracts funding tax qualified retirement plans, including 403(b) plans and 457(b) plans. For this purpose additional annuity contract benefits may include enhanced death benefits. If you take annual withdrawals instead of receiving annuity payments, this could increase the amount required to be distributed from these contracts. LIFETIME REQUIRED MINIMUM DISTRIBUTIONS -- WHEN YOU HAVE TO TAKE THE FIRST REQUIRED MINIMUM DISTRIBUTION Generally, 403(b) plan and 457(b) EDC plan participants must take the first required minimum distribution for the calendar year in which the participant turns age 70-1/2. However, 403(b) plan and 457(b) EDC plan participants may be able to delay the start of required minimum distributions for all or part of the account balance until after age 70-1/2, as follows: o For 403(b) plan and 457(b) EDC plan participants who have not retired from service with the employer who provided the funds for this TSA or EDC contract by the calendar year the participant turns age 70-1/2, the required beginning date for minimum distributions is extended to April 1st following the calendar year of retirement. o 403(b) plan participants may also delay the start of required minimum distributions to age 75 of the portion of their account value attributable to their December 31, 1986 TSA account balance, even if retired at age 70-1/2. The first required minimum distribution is for the calendar year in which you turn age 70-1/2, or the year you retire, if you are eligible for the delayed start rule. You have the choice to take this first required minimum distribution during the calendar year you turn 70-1/2 or retire or to delay taking it until the first three-month period in the next calendar year (January 1 - April 1). Distributions must start no later than your "Required Beginning Date," which is April 1st of the calendar year after the calendar year in which you turn age 70-1/2 or retire if you are eligible for the delayed start rule. If you choose to delay taking the first annual minimum distribution, then you will have to take two minimum distributions in that year -- the delayed one for the first year and the one actually for that year. Once minimum distributions begin, they must be made at some time each year. HOW YOU CALCULATE REQUIRED MINIMUM DISTRIBUTIONS There are two approaches to taking required minimum distributions -- "account-based" or "annuity-based." ACCOUNT-BASED METHOD. If you choose an "account-based" method, you divide the value of your TSA account or EDC account as of December 31st of the past calendar year by a number corresponding to your age from an IRS table to give you the required minimum distribution amount for that particular plan or arrangement for that year. If your spouse is your sole beneficiary and more than 10 years younger than you, the dividing number you use may be from another IRS table and may produce a smaller lifetime required minimum distribution amount. Regardless of the table used, the required minimum distribution amount will vary each year as the account value, the actuarial present value of additional annuity contract benefits, if applicable, and the divisor change. If you initially choose an account-based method, you may be able to later apply your funds to a life annuity-based payout with any certain period not exceeding remaining life expectancy, determined in accordance with IRS tables. ANNUITY-BASED METHOD. If you choose an annuity-based method you do not have to do annual calculations. You apply the account value to an annuity payout for your life or the joint lives of you and a desig- Tax information 48 nated beneficiary, or for a period certain not extending beyond applicable life expectancies, determined in accordance with IRS tables. DO YOU HAVE TO PICK THE SAME METHOD TO CALCULATE YOUR REQUIRED MINIMUM DISTRIBUTIONS FOR ALL OF YOUR RETIREMENT PLANS? No, if you want, you can choose a different method for each of your retirement plans. For example, you can choose an annuity payout from your TSA certificate, a different annuity payout from a qualified plan, and an account-based annual withdrawal from an IRA. WILL WE PAY YOU THE ANNUAL AMOUNT EVERY YEAR FROM YOUR CERTIFICATE BASED ON THE METHOD YOU CHOOSE? We will only pay you automatically if you affirmatively select an annuity payout option or an account-based withdrawal option such as our required minimum distribution (RMD) automatic withdrawal option. Otherwise, you will be responsible each year for asking us to pay the required minimum distribution withdrawal to you. The IRS will let you calculate the required minimum distribution for each TSA that you maintain, using the method that you picked for that particular 403(b) funding vehicle. You can add these required minimum distribution amount calculations together. As long as the total amount you take out every year satisfies your overall 403(b) plan required minimum distribution amount, you may choose to take your annual required minimum distribution from any one or more TSA contracts or custodial accounts that you own. WHAT IF YOU TAKE MORE THAN YOU NEED TO FOR ANY YEAR? The required minimum distribution amount for each of your plans and arrangements is calculated on a year-by-year basis. There are no carry-back or carry-forward provisions. Also, you cannot apply required minimum distribution amounts you take from your qualified plans or TSAs to the amounts you have to take from your traditional IRAs and vice-versa. WHAT IF YOU TAKE LESS THAN YOU NEED TO FOR ANY YEAR? Your plan or arrangement could be disqualified, and you could have to pay tax on the entire value. Even if your plan or arrangement is not disqualified, you could have to pay a 50% penalty tax on the shortfall (required amount less amount actually taken). It is your responsibility to meet the required minimum distribution rules. We will remind you when our records show that you are within the age-group which must take lifetime required minimum distributions. If this is a TSA and you do not select a method with us, we will assume you are taking your required minimum distribution from another TSA contract or custodial account that you own. Note that in the case of an EDC plan the distribution must be taken annually from the EDC contract. WHAT ARE THE REQUIRED MINIMUM DISTRIBUTION PAYMENTS AFTER YOU DIE? These could vary, depending on whether you die before or after your Required Beginning Date for lifetime required minimum distribution payments, and the status of your beneficiary. The following assumes you have not yet elected an annuity-based payout at the time of your death. If you elect an annuity-based payout, payments (if any) after your death must be made at least as rapidly as when you were alive. INDIVIDUAL BENEFICIARY. Regardless of whether your death occurs before or after your Required Beginning Date, an individual death beneficiary calculates annual post-death required minimum distribution payments based on the beneficiary's life expectancy using the "term certain method." That is, he or she determines his or her life expectancy using the IRS-provided life expectancy tables as of the calendar year after the owner's or the participant's death and reduces that number by one each subsequent year. If you die before your Required Beginning Date, the rules permit any individual beneficiary, including a spousal beneficiary, to elect instead to apply the "5-year rule." Under this rule, instead of annual payments having to be made beginning with the first in the year following the owner's death, the entire account must be distributed by the end of the calendar year which contains the fifth anniversary of the owner's death. No distribution is required for a year before that fifth year. SPOUSAL BENEFICIARY. If you die after your Required Beginning Date, and your death beneficiary is your surviving spouse, your spouse has a number of choices. Post-death distributions may be made over your spouse's single life expectancy. Any amounts distributed after that surviving spouse's death are made over the spouse's life expectancy calculated in the year of his/her death, reduced by one for each subsequent year. If you die before your Required Beginning Date, and the death beneficiary is your surviving spouse, the rules permit the spouse to delay starting payments over his/her life expectancy until the year in which you would have attained age 70-1/2. Rollovers to another eligible retirement plan, including a traditional IRA, may be available to a surviving spouse death beneficiary. NON-INDIVIDUAL BENEFICIARY. If you die after your Required Beginning Date, and your death beneficiary is a non-individual such as the estate, the rules permit the beneficiary to calculate the post-death required minimum distribution amounts based on the owner's life expectancy in the year of death. HOWEVER, NOTE THAT WE NEED AN INDIVIDUAL PARTICIPANT TO KEEP AN ANNUITY CONTRACT IN FORCE. IF THE BENEFICIARY IS NOT AN INDIVIDUAL, WE MUST DISTRIBUTE AMOUNTS REMAINING IN THE ANNUITY CONTRACT AFTER THE DEATH OF THE PARTICIPANT. If you die before your Required Beginning Date for lifetime required minimum distribution payments and the death beneficiary is a non-individual such as the estate, the rules continue to apply the 5-year rule discussed above under "Individual beneficiary." PLEASE NOTE THAT WE NEED AN INDIVIDUAL PARTICIPANT TO KEEP AN ANNUITY CONTRACT IN FORCE. IF THE BENEFICIARY IS NOT AN INDIVIDUAL, WE MUST DISTRIBUTE AMOUNTS REMAINING IN THE ANNUITY CONTRACT AFTER THE DEATH OF THE PARTICIPANT. ERISA MATTERS ERISA rules are designed to save and protect qualified retirement plan assets to be paid to plan participants when they retire. Some TSAs may be subject to Title I of ERISA, generally dependent on the level of employer involvement, for example, if the employer makes matching contributions. In addition, certain loan rules apply only to loans under ERISA plans: 49 Tax information o For contracts which are subject to ERISA, the trustee or sponsoring employer is responsible for ensuring that any loan meets applicable DOL requirements. It is the responsibility of the plan administrator, the trustee of the qualified plan and/or the employer, and not AXA Equitable, to properly administer any loan made to plan participants. o With respect to specific loans made by the plan to a plan participant, the plan administrator determines the interest rate, the maximum term consistent with EQUI-VEST(SM) Strategies processing and all other terms and conditions of the loan. o Only 50% of the participant's vested account balance may serve as security for a loan. To the extent that a participant borrows an amount which should be secured by more than 50% of the participant's vested account balance, it is the responsibility of the trustee or plan administrator to obtain the additional security. o Each new or renewed loan must bear a reasonable rate of interest commensurate with the interest rates charged by persons in the business of lending money for loans that would be made under similar circumstances. o Loans must be available to all plan participants, former participants (or death beneficiaries of participants) who still have account balances under the plan, and alternate payees on a reasonably equivalent basis. o Plans subject to ERISA provide that the participant's spouse must consent in writing to the loan. CERTAIN RULES APPLICABLE TO PLANS DESIGNED TO COMPLY WITH SECTION 404(C) OF ERISA Section 404(c) of ERISA, and the related DOL regulation, provide that if a plan participant or beneficiary exercises control over the assets in his or her plan account, plan fiduciaries will not be liable for any loss that is the direct and necessary result of the plan participant's or beneficiary's exercise of control. As a result, if the plan complies with Section 404(c) and the DOL regulation thereunder, the plan participant can make and is responsible for the results of his or her own investment decisions. Section 404(c) plans must provide, among other things, that a broad range of investment choices are available to plan participants and beneficiaries and must provide such plan participants and beneficiaries with enough information to make informed investment decisions. Compliance with the Section 404(c) regulation is completely voluntary by the plan sponsor and the plan sponsor may choose not to comply with Section 404(c). The EQUI-VEST(SM) Strategies TSA contracts provide the broad range of investment choices and information needed in order to meet the requirements of the Section 404(c) regulation. If the plan is intended to be a Section 404(c) plan, it is, however, the plan sponsor's responsibility to see that the requirements of the DOL regulation are met. AXA Equitable and its financial professionals shall not be responsible if a plan fails to meet the requirements of Section 404(c). FEDERAL AND STATE INCOME TAX WITHHOLDING AND INFORMATION REPORTING We must withhold federal income tax from distributions from annuity contracts. You may be able to elect out of this income tax withholding in some cases. Generally, we do not have to withhold if your distributions are not taxable. The rate of withholding will depend on the type of distribution and, in certain cases, the amount of your distribution. Any income tax withheld is a credit against your income tax liability. If you do not have sufficient income tax withheld or do not make sufficient estimated income tax payments, you may incur penalties under the estimated income tax rules. You must file your request not to withhold in writing before the payment or distribution is made. Our processing office will provide forms for this purpose. You cannot elect out of withholding unless you provide us with your correct Taxpayer Identification Number and a United States residence address. You cannot elect out of withholding if we are sending the payment out of the United States. We might have to withhold and/or report on amounts we pay under a free look or cancellation. Special withholding rules apply to foreign recipients and United States citizens residing outside the United States. We do not discuss these rules here in detail. However, we may require additional documentation in the case of payments made to non-United States persons and United States persons living abroad prior to processing any requested transaction. Certain states have indicated that state income tax withholding will also apply to payments from the contracts made to residents. In some states, you may elect out of state withholding, even if federal withholding applies. Generally, an election out of federal withholding will also be considered an election out of state withholding. If you need more information concerning a particular state or any required forms, call our processing office at the toll-free number. FEDERAL INCOME TAX WITHHOLDING ON PERIODIC ANNUITY PAYMENTS We withhold differently on "periodic" and "non-periodic" payments. For a periodic annuity payment, for example, unless you specify a different number of withholding exemptions, we withhold assuming that you are married and claiming three withholding exemptions. If you do not give us your correct Taxpayer Identification Number, we withhold as if you are single with no exemptions. Based on the assumption that you are married and claiming three withholding exemptions, if you receive less than $18,720 in periodic annuity payments in 2008 your payments will generally be exempt from federal income tax withholding. You could specify a different choice of withholding exemption or request that tax be withheld. Your withholding election remains effective unless and until you revoke it. You may revoke or change your withholding election at any time. FEDERAL INCOME TAX WITHHOLDING ON NON-PERIODIC ANNUITY PAYMENTS (WITHDRAWALS) For a non-periodic distribution (total surrender or partial withdrawal), and any distribution from a TSA or governmental employer 457(b) EDC plan which is not an eligible rollover distribution we generally withhold at a flat 10% rate. You cannot elect out of withholding if the payment is an "eligible rollover distribution" from a TSA or governmental employer EDC plan. If a Tax information 50 non-periodic distribution from a TSA or governmental employer EDC plan is not an "eligible rollover distribution" then the 10% withholding rate applies. MANDATORY WITHHOLDING FROM TSA, GOVERNMENTAL EMPLOYER EDC AND QUALIFIED PLAN DISTRIBUTIONS Unless the distribution is directly rolled over to another eligible retirement plan, eligible rollover distributions from governmental employer 457(b) EDC plans and TSAs are subject to mandatory 20% withholding. The plan administrator is responsible for withholding from governmental employer 457(b) EDC plan distributions. An eligible rollover distribution from one of these eligible retirement plans can be rolled over to another one of these eligible retirement plans or a traditional IRA. All distributions from a TSA, governmental employer 457(b) EDC plan or qualified plan are eligible rollover distributions unless they are on the following list of exceptions: o any distributions which are "required minimum distributions" after age 70-1/2 or retirement from service with the employer; or o substantially equal periodic payments made at least annually for the life (or life expectancy) or the joint lives (or joint life expectancies of the plan participant (and designated beneficiary); or o substantially equal periodic payments made for a specified period of 10 years or more; or o hardship withdrawals; or o corrective distributions which fit specified technical tax rules; or o loans that are treated as distributions; or o a death benefit payment to a beneficiary who is not the plan participant surviving spouse; or o a qualified domestic relations order distribution to a beneficiary who is not the plan participant current spouse or former spouse. A death benefit payment to the plan participant surviving spouse, or a qualified domestic relations order distribution to the plan participant current or former spouse, may be a distribution subject to mandatory 20% withholding. IMPACT OF TAXES TO AXA EQUITABLE The contracts provide that we may charge Separate Account A for taxes. We do not now, but may in the future set up reserves for such taxes. 51 Tax information 8. More information - -------------------------------------------------------------------------------- ABOUT OUR SEPARATE ACCOUNT A Each variable investment option is a subaccount of our Separate Account A. We established Separate Account A in 1968 under special provisions of the New York Insurance Law. These provisions prevent creditors from any other business we conduct from reaching the assets we hold in our variable investment options for owners of our variable annuity contracts. We are the legal owner of all of the assets in Separate Account A and may withdraw any amounts that exceed our reserves and other liabilities with respect to variable investment options under our contracts. For example, we may withdraw amounts from Separate Account A that represent our investments in Separate Account A or that represent fees and charges under the contracts that we have earned. The results of Separate Account A's operations are accounted for without regard to AXA Equitable's other operations. The amount of some of our obligations under the contracts and certificates is based on the assets in Separate Account A. However, the obligations themselves are obligations of AXA Equitable. Separate Account A is registered under the Investment Company Act of 1940 and is registered and classified under that act as a "unit investment trust." The SEC, however, does not manage or supervise AXA Equitable or Separate Account A. Although Separate Account A is registered, the SEC does not monitor the activity of Separate Account A on a daily basis. AXA Equitable is not required to register, and is not registered, as an investment company under the Investment Company Act of 1940. Each subaccount (variable investment option) within Separate Account A invests solely in Class IA/A or Class IB/B shares issued by the corresponding portfolio of its Trust. We reserve the right subject to compliance with laws that apply: (1) to add variable investment options to, or to remove variable investment options from, Separate Account A, or to add other separate accounts; (2) to combine any two or more variable investment options; (3) to transfer the assets we determine to be the shares of the class of contracts to which the contracts belong from any variable investment option to another variable investment option; (4) to operate Separate Account A or any variable investment option as a management investment company under the Investment Company Act of 1940 (in which case, charges and expenses that otherwise would be assessed against an underlying mutual fund would be assessed against Separate Account A or a variable investment option directly); (5) to deregister Separate Account A under the Investment Company Act of 1940; (6) to restrict or eliminate any voting rights as to Separate Account A; (7) to cause one or more variable investment options to invest some or all of their assets in one or more other trusts or investment companies; and (8) to unilaterally change the contract and your certificate in order to comply with any applicable laws and regulations, including but not limited to changes in the Internal Revenue Code, in Treasury regulations or in published rulings of the Internal Revenue Service, ERISA and in Department of Labor regulations. Any change in the contract and your certificate must be in writing and made by our authorized officer. We will provide notice of any contract and certificate changes. ABOUT THE TRUSTS The Trusts are registered under the Investment Company Act of 1940. They are classified as "open-end management investment companies," more commonly called mutual funds. Each Trust issues different shares relating to each portfolio. The Trusts do not impose sales charges or "loads" for buying and selling their shares. All dividends and other distributions on the Trusts' shares are reinvested in full. The Board of Trustees or Board of Directors, as applicable, of each Trust may establish additional portfolios or eliminate existing portfolios at any time. More detailed information about each Trust, its portfolio investment objectives, policies, restrictions, risks, expenses, its Rule 12b-1 plan relating to its Class IB/B shares, and other aspects of its operations, appears in the prospectuses for each Trust, which generally accompany this prospectus, or in their respective SAIs, which are available upon request. ABOUT OUR FIXED MATURITY OPTIONS RATES TO MATURITY AND PRICE PER $100 OF MATURITY VALUE We can determine the amount required to be allocated to one or more fixed maturity options in order to produce specified maturity values. For example, we can tell you how much you need to allocate per $100 of maturity value. The rates to maturity are determined weekly. The rates in the table are illustrative only and will most likely differ from the rates applicable at time of purchase. Current rates to maturity can be obtained through TOPS or EQAccess or from your financial professional. The rates to maturity for new allocations as of February 15, 2008 and the related price per $100 of maturity value were as shown below: - -------------------------------------------------------------------------------- Fixed Maturity Options with June 15th Maturity Rate to Maturity as of Price Per $100 of Date of Maturity Year February 15, 2008 Maturity Value - -------------------------------------------------------------------------------- 2008 3.00% ** $ 99.02 2009 3.00% ** $ 96.14 2010 3.00% ** $ 93.34 2011 3.00% ** $ 90.62 2012 3.00% ** $ 87.98 2013 3.20% $ 84.53 2014 3.65% $ 79.69 2015* 4.05% $ 74.74 2016* 4.25% $ 70.68 2017* 4.45% $ 66.60 - -------------------------------------------------------------------------------- More information 52 * Not available in Oregon ** Since these rates to maturity are 3%, no amounts could have been allocated to these options. HOW WE DETERMINE THE MARKET VALUE ADJUSTMENT We use the following procedure to calculate the market value adjustment (up or down) we make if you withdraw all of your value from a fixed maturity option before its maturity date. (1) We determine the market adjusted amount on the date of the withdrawal as follows: (a) We determine the fixed maturity amount that would be payable on the maturity date, using the rate to maturity for the fixed maturity option. (b) We determine the period remaining in your fixed maturity option (based on the withdrawal date) and convert it to fractional years based on a 365-day year. For example, three years and 12 days becomes 3.0329. (c) We determine the current rate to maturity that applies on the withdrawal date to new allocations to the same fixed maturity option. (d) We determine the present value of the fixed maturity amount payable at the maturity date, using the period determined in (b) and the rate determined in (c). (2) We determine the fixed maturity amount as of the current date. (3) We subtract (2) from the result in (1)(d). The result is the market value adjustment applicable to such fixed maturity option, which may be positive or negative. - -------------------------------------------------------------------------------- Your market adjusted amount is the present value of the maturity value discounted at the rate to maturity in effect for new contributions to that same fixed maturity option on the date of the calculation. - -------------------------------------------------------------------------------- If you withdraw only a portion of the amount in a fixed maturity option, the market value adjustment will be a percentage of the market value adjustment that would have applied if you had withdrawn the entire value in that fixed maturity option. This percentage is equal to the percentage of the value in the fixed maturity option that you are withdrawing. Any withdrawal charges that are deducted from a fixed maturity option will result in a market value adjustment calculated in the same way. See Appendix II later in this Prospectus for an example. For purposes of calculating the rate to maturity for new allocations to a fixed maturity option (see (1)(c) above), we use the rate we have in effect for new allocations to that fixed maturity option. We use this rate even if new allocations to that option would not be accepted at that time. This rate will not be less than 3%. If we do not have a rate to maturity in effect for a fixed maturity option to which the "current rate to maturity" in (1)(c) above would apply, we will use the rate at the next closest maturity date. If we are no longer offering new fixed maturity options, the "current rate to maturity" will be determined in accordance with our procedures then in effect. We reserve the right to add up to 0.50% to the current rate in (1)(c) above for purposes of calculating the market value adjustment only. INVESTMENTS UNDER THE FIXED MATURITY OPTIONS Amounts allocated to the fixed maturity options are held in a "nonunitized" separate account we have established under the New York Insurance Law. This separate account provides an additional measure of assurance that we will make full payment of amounts due under the fixed maturity options. Under New York Insurance Law, the portion of the separate account's assets equal to the reserves and other contract liabilities relating to the contracts are not chargeable with liabilities from any other business we may conduct. We own the assets of the separate account, as well as any favorable investment performance on those assets. You do not participate in the performance of the assets held in this separate account. We may, subject to state law that applies, transfer all assets allocated to the separate account to our general account. We guarantee all benefits relating to your value in the fixed maturity options, regardless of whether assets supporting fixed maturity options are held in a separate account or our general account. We have no specific formula for establishing the rates to maturity for the fixed maturity options. We expect the rates to be influenced by, but not necessarily correspond to, among other things, the yields that we can expect to realize on the separate account's investments from time to time. Our current plans are to invest in fixed-income obligations, including corporate bonds, mortgage-backed and asset-backed securities and government and agency issues having durations in the aggregate consistent with those of the fixed maturity options. Although the above generally describes our plans for investing the assets supporting our obligations under the fixed maturity options under the contracts, we are not obligated to invest those assets according to any particular plan except as we may be required to by state insurance laws. We will not determine the rates to maturity we establish by the performance of the nonunitized separate account. ABOUT THE GENERAL ACCOUNT Our general account supports all of our policy and contract guarantees, including those that apply to the guaranteed interest option and the fixed maturity options as well as our general obligations. The general account is subject to regulation and supervision by the Insurance Department of the State of New York and to the insurance laws and regulations of all jurisdictions where we are authorized to do business. The interests under the contract in the general account are issued by AXA Equitable. Interests in the general account have not been registered and are not required to be registered under the Securities Act of 1933 because of exemptions and exclusionary provisions that apply. The general account is not required to register as an investment company under the Investment Company Act of 1940 and it is not registered as an investment company under the Investment Company Act of 1940. The market value adjustment interests under the contracts, which are held in a separate account, are issued by AXA Equitable and are registered under the Securities Act of 1933. The contract is a "covered security" under the federal securities laws. We have been advised that the staff of the SEC has not reviewed the portions of this prospectus that relate to the general account. The disclosure with regard to general accounts, however, may be subject to 53 More information certain provisions of the federal securities laws relating to the accuracy and completeness of statements made in prospectuses. DATES AND PRICES AT WHICH CERTIFICATE EVENTS OCCUR We describe below the general rules for when, and at what prices, events under your certificate will occur. Other portions of this prospectus describe circumstances that may cause exceptions. We generally do not repeat those exceptions below. BUSINESS DAY Our "business day" is generally any day the New York Stock Exchange is open for regular trading and generally ends at 4:00 p.m. Eastern Time (or as of an earlier close of regular trading). A business day does not include a day on which we are not open due to emergency conditions determined by the Securities and Exchange Commission. We may also close early due to such emergency conditions. Contributions will be applied and any other transaction requests will be processed when they are received along with all the required information unless another date applies as indicated below. o If your contribution, transfer or any other transaction request containing all the required information reaches us on any of the following, we will use the next business day: - on a non-business day: - after 4:00 PM, ET on a business day; or - after an early close of regular trading on the NYSE on a business day. o When a charge is to be deducted on a contract date anniversary that is a non-business day, we will deduct the charge on the next business day. o Quarterly rebalancing will be processed on a calendar year basis. Semiannual or annual rebalancing will be processed on the first business day of the month. Rebalancing will not be done retroactively. CONTRIBUTIONS, TRANSFERS, WITHDRAWALS AND SURRENDERS o Contributions allocated to the variable investment options are invested at the unit value next determined after the receipt of the contribution. o Contributions allocated to a fixed maturity option will receive the rate to maturity in effect for that fixed maturity option on that business day. o Contributions allocated to the guaranteed interest option will receive the guaranteed interest rate in effect on that business day. o If a fixed maturity option is scheduled to mature on June 15th and June 15th is a non-business day, that fixed maturity option will mature on the prior business day. o Transfers to or from variable investment options will be made at the unit value next determined after the receipt of the transfer request. o Transfers to the guaranteed interest option will receive the guaranteed interest rate in effect on that business day. o Transfers to a fixed maturity option will receive the rate to maturity in effect for that fixed maturity option on that business day. o Transfers out of a fixed maturity option will be at the market adjusted amount on that business day. o For the fixed-dollar option, the first monthly transfer will occur on the last business day of the month in which we receive your election form at our processing office. o For the interest sweep, the first monthly transfer will occur on the last business day of the month following the month that we receive your election form at our processing office. o Requests for withdrawals or surrenders will occur on the business day that we receive the information that we require. ABOUT YOUR VOTING RIGHTS As the owner of the shares of the Trusts we have the right to vote on certain matters involving the portfolios, such as: o the election of trustees; o the formal approval of independent auditors selected for each Trust; or o any other matters described in each prospectus for the Trusts or requiring a shareholders' vote under the Investment Company Act of 1940. We will give participants the opportunity to instruct us how to vote the number of shares attributable to their certificates if a shareholder vote is taken. If we do not receive instructions in time from all participants, we will vote the shares of a portfolio for which no instructions have been received in the same proportion as we vote shares of that portfolio for which we have received instructions. We will also vote any shares that we are entitled to vote directly because of amounts we have in a portfolio in the same proportions that participants vote. The Trusts sell their shares to AXA Equitable separate accounts in connection with AXA Equitable's variable annuity and/or life insurance products, and to separate accounts of insurance companies, both affiliated and unaffiliated with AXA Equitable. AXA Premier VIP Trust and EQ Advisors Trust also sell their shares to the trustee of a qualified plan for AXA Equitable. We currently do not foresee any disadvantages to our participants arising out of these arrangements. However, the Board of Trustees or Directors of each Trust intend to monitor events to identify any material irreconcilable conflicts that may arise and to determine what action, if any, should be taken in response. If we believe that a Board's response insufficiently protects our participants, we will see to it that appropriate action is taken to do so. SEPARATE ACCOUNT A VOTING RIGHTS If actions relating to Separate Account A require participant approval, participants will be entitled to one vote for each unit they have in the variable investment options. Each participant who has elected a variable annuity payout option may cast the number of votes equal to the dollar amount of reserves we are holding for that annuity in a variable investment option divided by the annuity unit value for that option. We More information 54 will cast votes attributable to any amounts we have in the variable investment options in the same proportion as votes cast by participants. CHANGES IN APPLICABLE LAW The voting rights we describe in this prospectus are created under applicable federal securities laws. To the extent that those laws or the regulations published under those laws eliminate the necessity to submit matters for approval by persons having voting rights in separate accounts of insurance companies, we reserve the right to proceed in accordance with those laws or regulations. ABOUT LEGAL PROCEEDINGS AXA Equitable and its affiliates are parties to various legal proceedings. In our view, none of these proceedings would be considered material with respect to a participant's interest in Separate Account A, nor would any of these proceedings be likely to have a material adverse effect upon Separate Account A, our ability to meet our obligations under the certificates, or the distribution of the certificates. FINANCIAL STATEMENTS The financial statements of Separate Account A, as well as the consolidated financial statements of AXA Equitable, are in the SAI. The SAI is available free of charge. You may request one by writing our processing office or calling 1-800-628-6673. TRANSFERS OF OWNERSHIP, COLLATERAL ASSIGNMENTS, LOANS, AND BORROWING The owner may not assign a contract or certificate for any purpose. You cannot assign a certificate as security for a loan or other obligation. Loans from account value, however, are permitted unless restricted by the employer. FUNDING CHANGES The employer or trustee can change the funding vehicle for the plan. DISTRIBUTION OF THE CONTRACTS The contracts are distributed by both AXA Advisors, LLC ("AXA Advisors") and AXA Distributors, LLC ("AXA Distributors") (together, the "Distributors"). The Distributors serve as principal underwriters of Separate Account A. The offering of the contracts is intended to be continuous. AXA Advisors is an affiliate of AXA Equitable, and AXA Distributors is an indirect wholly owned subsidiary of AXA Equitable. The Distributors are under the common control of AXA Financial, Inc. Their principal business address is 1290 Avenue of the Americas, New York, NY 10104. The Distributors are registered with the SEC as broker-dealers and are members of the Financial Industry Regulatory Authority, Inc. ("FINRA"). Both broker-dealers also act as distributors for other AXA Equitable life and annuity products. The contracts are sold by financial professionals of AXA Advisors and its affiliates. The contracts are also sold by financial professionals of both affiliated and unaffiliated broker-dealers that have entered into selling agreements with the Distributors ("Selling broker-dealers"). AXA Equitable pays compensation to both Distributors based on contracts sold. Compensation paid to AXA Advisors is based on contributions made on the contracts sold through AXA Advisors ("contribution-based compensation") and will generally not exceed 16.0% of total contributions. AXA Advisors, in turn, may pay a portion of the contribution-based compensation received from AXA Equitable on the sale of a contract to the AXA Advisors financial professional and/or Selling broker-dealer making the sale. In some instances, a financial professional or Selling broker-dealer may elect to receive reduced contribution-based compensation on a contract in combination with ongoing annual compensation of up to 0.70% of the account value of the contract sold ("asset-based compensation"). Total compensation paid to a financial professional or a Selling broker-dealer electing to receive both contribution-based and asset-based compensation could over time exceed the total compensation that would otherwise be paid on the basis of contributions alone. The contribution-based and asset-based compensation paid by AXA Advisors varies among financial professionals and among Selling broker-dealers. Contribution-based compensation paid by AXA Equitable to AXA Distributors on sales of AXA Equitable contracts by its Selling broker-dealers will generally not exceed 12.0% of the total contributions made under the contracts. AXA Distributors, in turn, pays the contribution-based compensation it receives on the sale of a contract to the Selling broker-dealer making the sale. In some instances, the Selling broker-dealer may elect to receive reduced contribution-based compensation on the sale of a contract in combination with annual asset-based compensation of up to 0.35% of contract account value. If a Selling broker-dealer elects to receive reduced contribution-based compensation on a contract, the contribution-based compensation which AXA Equitable pays to AXA Distributors will be reduced by the same amount and AXA Equitable will pay AXA Distributors asset-based compensation on the contract equal to the asset-based compensation which AXA Distributors pays to the Selling broker- dealer. Total compensation paid to a Selling broker-dealer electing to receive both contribution-based and asset-based compensation could over time exceed the total compensation that would otherwise be paid on the basis of contributions alone. The contribution-based and asset-based compensation paid by AXA Distributors varies among Selling broker-dealers. AXA Distributors also receives compensation and reimbursement for its marketing services under the terms of its distribution agreement with AXA Equitable. The Distributors may pay certain affiliated and/or unaffiliated Selling broker-dealers and other financial intermediaries additional compensation in recognition of certain expenses that may be incurred by them or on their behalf. The Distributors may also pay certain broker-dealers or other financial intermediaries additional compensation for enhanced marketing opportunities and other services (commonly referred to as "marketing allowances"). Services for which such payments are made may include, but are not limited to, the preferred placement of AXA Equitable and/or EQUI-VEST(SM) Strategies on a company and/or product list; sales personnel training; product training; 55 More information business reporting; technological support; due diligence and related costs; advertising, marketing and related services; conferences; and/or other support services, including some that may benefit the contract owner. Payments may be based on the amount of assets or purchase payments attributable to contracts sold through a Selling broker-dealer or such payments may be a fixed amount. The Distributors may also make fixed payments to Selling broker-dealers in connection with the initiation of a new relationship or the introduction of a new product. These payments may serve as an incentive for Selling broker-dealers to promote the sale of particular products. Additionally, as an incentive for financial professionals of Selling broker-dealers to promote the sale of AXA Equitable products, the Distributors may increase the sales compensation paid to the Selling broker-dealer for a period of time (commonly referred to as "compensation enhancements"). Marketing allowances and sales incentives are made out of the Distributors' assets. Not all Selling broker-dealers receive these kinds of payments. For more information about any such arrangements, ask your financial professional. The Distributors receive 12b-1 fees from certain portfolios for providing certain distribution and/or shareholder support services. The Distributors or their affiliates may also receive payments from the advisers of the portfolios or their affiliates to help defray expenses for sales meetings or seminar sponsorships that may relate to the contracts and/or the advisers' respective portfolios. In an effort to promote the sale of our products, AXA Advisors may provide its financial professionals and managerial personnel with a higher percentage of sales commissions and/or cash compensation for the sale of an affiliated variable product than it would the sale of an unaffiliated product. Such practice is known as providing "differential compensation." In addition, managerial personnel may receive expense reimbursements, marketing allowances and commission-based payments known as "overrides." Certain components of the compensation of financial professionals who are managers are based on the sale of affiliated variable products. Managers earn higher compensation (and credits toward awards and bonuses) if those they manage sell more affiliated variable products. AXA Advisors may provide other forms of compensation to its financial professionals, including health and retirement benefits. For tax reasons, AXA Advisors financial professionals qualify for health and retirement benefits based solely on their sales of our affiliated products. These payments and differential compensation (together, the "payments") can vary in amount based on the applicable product and/or entity or individual involved. As with any incentive, such payments may cause the financial professional to show preference in recommending the purchase or sale of AXA Equitable products. However, under applicable rules of FINRA, AXA Advisors may only recommend to you products that they reasonably believe are suitable for you based on facts that you have disclosed as to your other security holdings, financial situation and needs. In making any recommendation, financial professionals of AXA Advisors may nonetheless face conflicts of interest because of the differences in compensation from one product category to another, and because of differences in compensation between products in the same category. In addition, AXA Advisors may offer sales incentive programs to financial professionals who meet specified production levels for the sale of both affiliated and unaffiliated products which provide non-cash compensation such as stock options awards and/or stock appreciation rights, expense-paid trips, expense-paid educational seminars and merchandise. Although AXA Equitable takes all of its costs into account in establishing the level of fees and expenses in its products, any contribution-based and asset-based compensation paid by AXA Equitable to the Distributors will not result in any separate charge to you under your contract. All payments made will be in compliance with all applicable FINRA rules and other laws and regulations. More information 56 9. Incorporation of certain documents by reference - -------------------------------------------------------------------------------- AXA Equitable's Annual Report on Form 10-K for the period ended December 31, 2007 (the "Annual Report") is considered to be part of this prospectus because it is incorporated by reference. AXA Equitable intends to send owners account statements and other such legally-required reports. AXA Equitable does not anticipate such reports will include periodic financial statements or information concerning AXA Equitable. AXA Equitable files reports and other information with the SEC, as required by law. You may read and copy this information at the SEC's public reference facilities at Room 1580, 100 F Street, NE, Washington, DC 20549, or by accessing the SEC's website at www.sec.gov. The public may obtain information on the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0330. Under the Securities Act of 1933, AXA Equitable has filed with the SEC a registration statement relating to the Market Value Adjustment (the "Registration Statement"). This prospectus has been filed as part of the Registration Statement and does not contain all of the information set forth in the Registration Statement. Please see the Registration Statement for additional information concerning the Market Value Adjustment. The Annual Report includes the audited consolidated financial statements of AXA Equitable at December 31, 2007 and 2006 and for each of the three years in the period ended December 31, 2007 (the "AXA Equitable Financial Statements"). The AXA Equitable Financial Statements are included in the Annual Report and incorporated by reference into this prospectus in reliance on the report of PricewaterhouseCoopers LLP, an independent registered public accounting firm. The AXA Equitable Financial Statements are also included in the Annual Report and incorporated by reference into this prospectus in reliance on the reports of KPMG LLP, an independent registered public accounting firm, on (i) the Consolidated Statements of Income, Changes in Partners' Capital and Comprehensive Income, and Cash Flows of AllianceBernstein L.P. and (ii) the Statements of Income, Changes in Partners' Capital and Comprehensive Income, and Cash Flows of AllianceBernstein Holding L.P. (together "AllianceBernstein", formerly "Alliance") for the year ended December 31, 2005. The reports are given on the authority of said firms as experts in auditing and accounting. KPMG LLP was AllianceBernstein's independent registered public accounting firm for the year ended December 31, 2005. On March 8, 2006, KPMG LLP was terminated, and PricewaterhouseCoopers LLP was appointed as AllianceBernstein's independent registered public accounting firm, as disclosed on AXA Equitable's Report on Form 8-K filed on March 13, 2006. AllianceBernstein Corporation, an indirect wholly owned subsidiary of AXA Equitable, is the general partner of both AllianceBernstein L.P. and AllianceBernstein Holding L.P. Any statement contained in a document that is or becomes part of this prospectus, will be considered changed or replaced for purposes of this prospectus if a statement contained in this prospectus changes or is replaced. Any statement that is considered to be a part of this prospectus because of its incorporation, will be considered changed or replaced for the purpose of this prospectus if a statement contained in any other subsequently filed document that is considered to be part of this prospectus changes or replaces that statement. After that, only the statement that is changed or replaced will be considered to be part of this prospectus. We file our Exchange Act documents and reports, including our annual report on Form 10-K and quarterly reports on Form 10-Q, electronically according to EDGAR under CIK No. 0000727920. The SEC maintains a website that contains reports, proxy and information statements and other information regarding registrants that file electronically with the SEC. The address of the site is www.sec.gov. Upon written or oral request, we will provide, free of charge, to each person to whom this prospectus is delivered a copy of any or all of the documents considered to be part of this prospectus because they are incorporated herein. This does not include exhibits not specifically incorporated by reference into the text of such documents. Requests for documents should be directed to AXA Equitable Life Insurance Company, 1290 Avenue of the Americas, New York, New York 10104. Attention: Corporate Secretary (telephone: (212) 554-1234). 57 Incorporation of certain documents by reference Appendix I: Condensed financial information - -------------------------------------------------------------------------------- The following tables show the accumulation unit values and the number of outstanding units for each variable investment option at the last business day of the periods shown. The unit values and number of units outstanding are for contracts offered under Separate Account A with the same daily asset charge of 1.20% and 0.50%. The unit values and number of units outstanding for contracts offered under Separate Account A with daily asset charges of 0.90% and 0.70% are available in the Statement of Additional Information. To request a copy of the Statement of Additional Information, please contact our Processing Office. At the date of this Prospectus, unit values and number of units outstanding for contracts offered under Separate Account A with an asset based charge of 0.25% did not exist. The information presented is shown for the past ten years, or from the first year the particular contracts were offered if less than ten years ago. THE UNIT VALUES AND NUMBERS OF UNITS OUTSTANDING SHOWN BELOW, AS OF DECEMBER 31, 2007, ARE FOR CONTRACTS OFFERED UNDER SEPARATE ACCOUNT A WITH THE SAME DAILY ASSET CHARGE OF 1.20%.
- ------------------------------------------------------------------------------------------------------------------- For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------- 1998 1999 - ------------------------------------------------------------------------------------------------------------------- AXA Aggressive Allocation - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------- AXA Conservative Allocation - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------- AXA Conservative-Plus Allocation - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------- AXA Moderate Allocation - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------- AXA Moderate-Plus Allocation - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Intermediate Government Securities - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein International - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Large Cap Growth - ------------------------------------------------------------------------------------------------------------------- Unit value -- $ 116.42 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 36 - ------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Quality Bond - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Small Cap Growth - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Value - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/BlackRock Basic Value Equity - ------------------------------------------------------------------------------------------------------------------- Unit value $ 97.91 $ 115.06 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 7 - ------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------- For the years ending December 31, - ----------------------------------------------------------------------------------------------------------------------------- 2000 2001 2002 - ----------------------------------------------------------------------------------------------------------------------------- AXA Aggressive Allocation - ----------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ----------------------------------------------------------------------------------------------------------------------------- AXA Conservative Allocation - ----------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ----------------------------------------------------------------------------------------------------------------------------- AXA Conservative-Plus Allocation - ----------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ----------------------------------------------------------------------------------------------------------------------------- AXA Moderate Allocation - ----------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ----------------------------------------------------------------------------------------------------------------------------- AXA Moderate-Plus Allocation - ----------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ----------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock - ----------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ----------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Intermediate Government Securities - ----------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ----------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein International - ----------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ----------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Large Cap Growth - ----------------------------------------------------------------------------------------------------------------------------- Unit value $ 93.88 $ 70.52 $ 47.97 - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 350 438 383 - ----------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Quality Bond - ----------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ----------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Small Cap Growth - ----------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ----------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Value - ----------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 94.71 $ 80.81 - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 71 173 - ----------------------------------------------------------------------------------------------------------------------------- EQ/BlackRock Basic Value Equity - ----------------------------------------------------------------------------------------------------------------------------- Unit value $ 127.11 $ 132.52 $ 109.12 - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 41 119 183 - ----------------------------------------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------------------------------------------- For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------- 2003 2004 2005 - ------------------------------------------------------------------------------------------------------------------------------- AXA Aggressive Allocation - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 109.19 $ 120.60 $ 128.76 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 1 12 32 - ------------------------------------------------------------------------------------------------------------------------------- AXA Conservative Allocation - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 102.19 $ 107.05 $ 108.35 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 2 31 42 - ------------------------------------------------------------------------------------------------------------------------------- AXA Conservative-Plus Allocation - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 104.18 $ 110.91 $ 113.14 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 3 21 44 - ------------------------------------------------------------------------------------------------------------------------------- AXA Moderate Allocation - ------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 165.24 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- AXA Moderate-Plus Allocation - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 108.00 $ 119.18 $ 125.60 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 2 50 122 - ------------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock - ------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 171.66 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Intermediate Government Securities - ------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 140.78 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein International - ------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 130.98 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Large Cap Growth - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 58.38 $ 62.52 $ 70.99 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 362 311 281 - ------------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Quality Bond - ------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 149.02 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Small Cap Growth - ------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 174.78 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Value - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 102.78 $ 115.20 $ 120.01 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 235 340 396 - ------------------------------------------------------------------------------------------------------------------------------- EQ/BlackRock Basic Value Equity - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 141.44 $ 154.51 $ 157.16 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 219 284 294 - ------------------------------------------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------------------------------- For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------- 2006 2007 - ------------------------------------------------------------------------------------------------------------------- AXA Aggressive Allocation - ------------------------------------------------------------------------------------------------------------------- Unit value $ 149.99 $ 157.32 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 83 150 - ------------------------------------------------------------------------------------------------------------------- AXA Conservative Allocation - ------------------------------------------------------------------------------------------------------------------- Unit value $ 113.87 $ 119.03 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 55 100 - ------------------------------------------------------------------------------------------------------------------- AXA Conservative-Plus Allocation - ------------------------------------------------------------------------------------------------------------------- Unit value $ 121.57 $ 126.70 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 80 145 - ------------------------------------------------------------------------------------------------------------------- AXA Moderate Allocation - ------------------------------------------------------------------------------------------------------------------- Unit value $ 180.56 $ 190.05 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 3 27 - ------------------------------------------------------------------------------------------------------------------- AXA Moderate-Plus Allocation - ------------------------------------------------------------------------------------------------------------------- Unit value $ 142.10 $ 149.35 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 290 487 - ------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock - ------------------------------------------------------------------------------------------------------------------- Unit value $ 188.20 $ 192.89 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 17 - ------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Intermediate Government Securities - ------------------------------------------------------------------------------------------------------------------- Unit value $ 143.80 $ 152.20 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 1 - ------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein International - ------------------------------------------------------------------------------------------------------------------- Unit value $ 160.24 $ 177.32 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 3 16 - ------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Large Cap Growth - ------------------------------------------------------------------------------------------------------------------- Unit value $ 69.76 $ 78.56 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 249 223 - ------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Quality Bond - ------------------------------------------------------------------------------------------------------------------- Unit value $ 153.26 $ 158.68 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 1 - ------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Small Cap Growth - ------------------------------------------------------------------------------------------------------------------- Unit value $ 188.69 $ 218.08 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 1 3 - ------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Value - ------------------------------------------------------------------------------------------------------------------- Unit value $ 143.93 $ 135.87 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 471 42 - ------------------------------------------------------------------------------------------------------------------- EQ/BlackRock Basic Value Equity - ------------------------------------------------------------------------------------------------------------------- Unit value $ 187.75 $ 187.68 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 276 266 - -------------------------------------------------------------------------------------------------------------------
Appendix I: Condensed financial information I-1
THE UNIT VALUES AND NUMBERS OF UNITS OUTSTANDING SHOWN BELOW, AS OF DECEMBER 31, 2007, ARE FOR CONTRACTS OFFERED UNDER SEPARATE ACCOUNT A WITH THE SAME DAILY ASSET CHARGE OF 1.20%. - ------------------------------------------------------------------------------------------------------------------- For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------- 1998 1999 - ------------------------------------------------------------------------------------------------------------------- EQ/BlackRock International Value - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/Boston Advisors Equity Income - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/Calvert Socially Responsible - ------------------------------------------------------------------------------------------------------------------- Unit value -- $ 107.64 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/Capital Guardian Growth - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/Capital Guardian Research - ------------------------------------------------------------------------------------------------------------------- Unit value -- $ 106.84 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 1 - ------------------------------------------------------------------------------------------------------------------- EQ/Caywood-Scholl High Yield Bond - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/Davis New York Venture - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/Equity 500 Index - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/Evergreen International Bond - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/Evergreen Omega - ------------------------------------------------------------------------------------------------------------------- Unit value -- $ 106.63 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/FI Mid Cap - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/Franklin Income - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/Franklin Small Cap Value - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/Franklin Templeton Founding Strategy - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/GAMCO Mergers and Acquisitions - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/GAMCO Small Company Value - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/International Core PLUS - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------ 2000 2001 2002 - ------------------------------------------------------------------------------------------------------------------------------ EQ/BlackRock International Value - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 75.88 - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 74 - ------------------------------------------------------------------------------------------------------------------------------ EQ/Boston Advisors Equity Income - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ EQ/Calvert Socially Responsible - ------------------------------------------------------------------------------------------------------------------------------ Unit value $ 103.26 $ 87.02 $ 63.23 - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 3 - ------------------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Growth - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 54.11 - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 5 - ------------------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Research - ------------------------------------------------------------------------------------------------------------------------------ Unit value $ 111.80 $ 108.22 $ 80.55 - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 9 31 130 - ------------------------------------------------------------------------------------------------------------------------------ EQ/Caywood-Scholl High Yield Bond - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ EQ/Davis New York Venture - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ EQ/Equity 500 Index - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ EQ/Evergreen International Bond - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ EQ/Evergreen Omega - ------------------------------------------------------------------------------------------------------------------------------ Unit value $ 93.02 $ 76.26 $ 57.25 - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 3 10 16 - ------------------------------------------------------------------------------------------------------------------------------ EQ/FI Mid Cap - ------------------------------------------------------------------------------------------------------------------------------ Unit value $ 100.02 $ 85.57 $ 68.93 - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 9 106 195 - ------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Income - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Small Cap Value - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Templeton Founding Strategy - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ EQ/GAMCO Mergers and Acquisitions - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ EQ/GAMCO Small Company Value - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ EQ/International Core PLUS - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 67.97 - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 12 - ------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------ 2003 2004 2005 - ------------------------------------------------------------------------------------------------------------------------------ EQ/BlackRock International Value - ------------------------------------------------------------------------------------------------------------------------------ Unit value $ 96.00 $ 115.37 $ 126.34 - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 85 120 197 - ------------------------------------------------------------------------------------------------------------------------------ EQ/Boston Advisors Equity Income - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 107.01 $ 112.23 - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 6 50 - ------------------------------------------------------------------------------------------------------------------------------ EQ/Calvert Socially Responsible - ------------------------------------------------------------------------------------------------------------------------------ Unit value $ 79.94 $ 81.81 $ 87.90 - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 4 6 8 - ------------------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Growth - ------------------------------------------------------------------------------------------------------------------------------ Unit value $ 66.27 $ 69.10 $ 71.76 - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 11 12 17 - ------------------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Research - ------------------------------------------------------------------------------------------------------------------------------ Unit value $ 104.65 $ 114.66 $ 120.15 - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 142 147 147 - ------------------------------------------------------------------------------------------------------------------------------ EQ/Caywood-Scholl High Yield Bond - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 104.07 - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 11 - ------------------------------------------------------------------------------------------------------------------------------ EQ/Davis New York Venture - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ EQ/Equity 500 Index - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 164.80 - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ EQ/Evergreen International Bond - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 97.53 - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ EQ/Evergreen Omega - ------------------------------------------------------------------------------------------------------------------------------ Unit value $ 78.17 $ 82.67 $ 84.92 - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 26 53 44 - ------------------------------------------------------------------------------------------------------------------------------ EQ/FI Mid Cap - ------------------------------------------------------------------------------------------------------------------------------ Unit value $ 97.80 $ 112.12 $ 117.83 - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 301 399 -- - ------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Income - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Small Cap Value - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Templeton Founding Strategy - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ EQ/GAMCO Mergers and Acquisitions - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 105.14 - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 5 - ------------------------------------------------------------------------------------------------------------------------------ EQ/GAMCO Small Company Value - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 113.27 $ 116.74 - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 7 62 - ------------------------------------------------------------------------------------------------------------------------------ EQ/International Core PLUS - ------------------------------------------------------------------------------------------------------------------------------ Unit value $ 89.06 $ 99.97 $ 115.69 - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 31 75 97 - ------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------ 2006 2007 - ------------------------------------------------------------------------------------------------------------------ EQ/BlackRock International Value - ------------------------------------------------------------------------------------------------------------------ Unit value $ 156.89 $ 170.79 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 231 237 - ------------------------------------------------------------------------------------------------------------------ EQ/Boston Advisors Equity Income - ------------------------------------------------------------------------------------------------------------------ Unit value $ 128.59 $ 131.73 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 67 72 - ------------------------------------------------------------------------------------------------------------------ EQ/Calvert Socially Responsible - ------------------------------------------------------------------------------------------------------------------ Unit value $ 91.39 $ 101.24 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 9 12 - ------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Growth - ------------------------------------------------------------------------------------------------------------------ Unit value $ 76.14 $ 79.35 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 27 43 - ------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Research - ------------------------------------------------------------------------------------------------------------------ Unit value $ 133.03 $ 133.60 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 143 370 - ------------------------------------------------------------------------------------------------------------------ EQ/Caywood-Scholl High Yield Bond - ------------------------------------------------------------------------------------------------------------------ Unit value $ 111.01 $ 112.76 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 27 45 - ------------------------------------------------------------------------------------------------------------------ EQ/Davis New York Venture - ------------------------------------------------------------------------------------------------------------------ Unit value -- $ 97.03 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 8 - ------------------------------------------------------------------------------------------------------------------ EQ/Equity 500 Index - ------------------------------------------------------------------------------------------------------------------ Unit value $ 187.87 $ 195.29 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 2 16 - ------------------------------------------------------------------------------------------------------------------ EQ/Evergreen International Bond - ------------------------------------------------------------------------------------------------------------------ Unit value $ 99.66 $ 107.62 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 14 37 - ------------------------------------------------------------------------------------------------------------------ EQ/Evergreen Omega - ------------------------------------------------------------------------------------------------------------------ Unit value $ 88.82 $ 97.69 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 38 41 - ------------------------------------------------------------------------------------------------------------------ EQ/FI Mid Cap - ------------------------------------------------------------------------------------------------------------------ Unit value $ 129.84 $ 138.57 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 494 531 - ------------------------------------------------------------------------------------------------------------------ EQ/Franklin Income - ------------------------------------------------------------------------------------------------------------------ Unit value $ 104.34 $ 105.20 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 22 149 - ------------------------------------------------------------------------------------------------------------------ EQ/Franklin Small Cap Value - ------------------------------------------------------------------------------------------------------------------ Unit value $ 108.27 $ 97.73 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 2 10 - ------------------------------------------------------------------------------------------------------------------ EQ/Franklin Templeton Founding Strategy - ------------------------------------------------------------------------------------------------------------------ Unit value -- $ 95.25 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 69 - ------------------------------------------------------------------------------------------------------------------ EQ/GAMCO Mergers and Acquisitions - ------------------------------------------------------------------------------------------------------------------ Unit value $ 116.57 $ 119.10 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 12 21 - ------------------------------------------------------------------------------------------------------------------ EQ/GAMCO Small Company Value - ------------------------------------------------------------------------------------------------------------------ Unit value $ 137.07 $ 148.00 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 80 128 - ------------------------------------------------------------------------------------------------------------------ EQ/International Core PLUS - ------------------------------------------------------------------------------------------------------------------ Unit value $ 136.30 $ 155.16 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 121 116 - ------------------------------------------------------------------------------------------------------------------
I-2 Appendix I: Condensed financial information
- ----------------------------------------------------------------------------------------------------------------- THE UNIT VALUES AND NUMBERS OF UNITS OUTSTANDING SHOWN BELOW, AS OF DECEMBER 31, 2007, ARE FOR CONTRACTS OFFERED UNDER SEPARATE ACCOUNT A WITH THE SAME DAILY ASSET CHARGE OF 1.20%. - ----------------------------------------------------------------------------------------------------------------- For the years ending December 31, - ----------------------------------------------------------------------------------------------------------------- 1998 1999 - ----------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------- EQ/International Growth - ----------------------------------------------------------------------------------------------------------------- Unit value -- -- - ----------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ----------------------------------------------------------------------------------------------------------------- EQ/JPMorgan Core Bond - ----------------------------------------------------------------------------------------------------------------- Unit value -- -- - ----------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ----------------------------------------------------------------------------------------------------------------- EQ/JPMorgan Value Opportunities - ----------------------------------------------------------------------------------------------------------------- Unit value $ 100.60 $ 98.04 - ----------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 3 - ----------------------------------------------------------------------------------------------------------------- EQ/Large Cap Core PLUS - ----------------------------------------------------------------------------------------------------------------- Unit value -- $ 104.53 - ----------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 2 - ----------------------------------------------------------------------------------------------------------------- EQ/Large Cap Growth PLUS - ----------------------------------------------------------------------------------------------------------------- Unit value $ 103.53 $ 177.65 - ----------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 36 - ----------------------------------------------------------------------------------------------------------------- EQ/Legg Mason Value Equity - ----------------------------------------------------------------------------------------------------------------- Unit value -- -- - ----------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ----------------------------------------------------------------------------------------------------------------- EQ/Long Term Bond - ----------------------------------------------------------------------------------------------------------------- Unit value -- -- - ----------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ----------------------------------------------------------------------------------------------------------------- EQ/Lord Abbett Growth and Income - ----------------------------------------------------------------------------------------------------------------- Unit value -- -- - ----------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ----------------------------------------------------------------------------------------------------------------- EQ/Lord Abbett Large Cap Core - ----------------------------------------------------------------------------------------------------------------- Unit value -- -- - ----------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ----------------------------------------------------------------------------------------------------------------- EQ/Lord Abbett Mid Cap Value - ----------------------------------------------------------------------------------------------------------------- Unit value -- -- - ----------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ----------------------------------------------------------------------------------------------------------------- EQ/Marsico Focus - ----------------------------------------------------------------------------------------------------------------- Unit value -- -- - ----------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ----------------------------------------------------------------------------------------------------------------- EQ/Mid Cap Value PLUS - ----------------------------------------------------------------------------------------------------------------- Unit value $ 82.88 $ 83.36 - ----------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 1 - ----------------------------------------------------------------------------------------------------------------- EQ/Money Market - ----------------------------------------------------------------------------------------------------------------- Unit value $ 101.68 $ 105.21 - ----------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 17 - ----------------------------------------------------------------------------------------------------------------- EQ/Montag & Caldwell Growth - ----------------------------------------------------------------------------------------------------------------- Unit value -- -- - ----------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ----------------------------------------------------------------------------------------------------------------- EQ/Mutual Shares - ----------------------------------------------------------------------------------------------------------------- Unit value -- -- - ----------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ----------------------------------------------------------------------------------------------------------------- EQ/Oppenheimer Global - ----------------------------------------------------------------------------------------------------------------- Unit value -- -- - ----------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ----------------------------------------------------------------------------------------------------------------- EQ/Oppenheimer Main Street Opportunity - ----------------------------------------------------------------------------------------------------------------- Unit value -- -- - ----------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ----------------------------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------ 2000 2001 2002 - ------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------ EQ/International Growth - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ EQ/JPMorgan Core Bond - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 107.19 - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 45 - ------------------------------------------------------------------------------------------------------------------------------ EQ/JPMorgan Value Opportunities - ------------------------------------------------------------------------------------------------------------------------------ Unit value $ 103.43 $ 95.23 $ 76.16 - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 17 32 35 - ------------------------------------------------------------------------------------------------------------------------------ EQ/Large Cap Core PLUS - ------------------------------------------------------------------------------------------------------------------------------ Unit value $ 102.57 $ 85.14 $ 66.44 - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 17 21 26 - ------------------------------------------------------------------------------------------------------------------------------ EQ/Large Cap Growth PLUS - ------------------------------------------------------------------------------------------------------------------------------ Unit value $ 142.46 $ 92.82 $ 60.23 - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 288 316 265 - ------------------------------------------------------------------------------------------------------------------------------ EQ/Legg Mason Value Equity - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ EQ/Long Term Bond - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Growth and Income - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Large Cap Core - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Mid Cap Value - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ EQ/Marsico Focus - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 105.94 $ 92.57 - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 47 - ------------------------------------------------------------------------------------------------------------------------------ EQ/Mid Cap Value PLUS - ------------------------------------------------------------------------------------------------------------------------------ Unit value $ 86.60 $ 88.97 $ 74.98 - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 14 126 261 - ------------------------------------------------------------------------------------------------------------------------------ EQ/Money Market - ------------------------------------------------------------------------------------------------------------------------------ Unit value $ 110.19 $ 112.74 $ 112.77 - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 57 125 107 - ------------------------------------------------------------------------------------------------------------------------------ EQ/Montag & Caldwell Growth - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ EQ/Mutual Shares - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Global - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Opportunity - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------- For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------- 2003 2004 2005 - ------------------------------------------------------------------------------------------------------------------------------- EQ/International Growth - ------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 115.10 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 3 - ------------------------------------------------------------------------------------------------------------------------------- EQ/JPMorgan Core Bond - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 109.48 $ 112.60 $ 113.71 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 72 95 130 - ------------------------------------------------------------------------------------------------------------------------------- EQ/JPMorgan Value Opportunities - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 95.42 $ 104.53 $ 107.33 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 35 38 39 - ------------------------------------------------------------------------------------------------------------------------------- EQ/Large Cap Core PLUS - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 80.11 $ 88.18 $ 93.39 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 31 32 31 - ------------------------------------------------------------------------------------------------------------------------------- EQ/Large Cap Growth PLUS - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 76.94 $ 85.62 $ 92.23 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 250 232 215 - ------------------------------------------------------------------------------------------------------------------------------- EQ/Legg Mason Value Equity - ------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 106.44 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 6 - ------------------------------------------------------------------------------------------------------------------------------- EQ/Long Term Bond - ------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 100.09 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 20 - ------------------------------------------------------------------------------------------------------------------------------- EQ/Lord Abbett Growth and Income - ------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 106.09 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 3 - ------------------------------------------------------------------------------------------------------------------------------- EQ/Lord Abbett Large Cap Core - ------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 105.72 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 2 - ------------------------------------------------------------------------------------------------------------------------------- EQ/Lord Abbett Mid Cap Value - ------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 111.59 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 14 - ------------------------------------------------------------------------------------------------------------------------------- EQ/Marsico Focus - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 119.93 $ 130.94 $ 143.22 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 133 180 241 - ------------------------------------------------------------------------------------------------------------------------------- EQ/Mid Cap Value PLUS - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 98.72 $ 114.94 $ 126.42 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 291 333 377 - ------------------------------------------------------------------------------------------------------------------------------- EQ/Money Market - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 112.05 $ 111.56 $ 113.12 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 83 75 68 - ------------------------------------------------------------------------------------------------------------------------------- EQ/Montag & Caldwell Growth - ------------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 104.69 $ 109.03 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 6 - ------------------------------------------------------------------------------------------------------------------------------- EQ/Mutual Shares - ------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/Oppenheimer Global - ------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/Oppenheimer Main Street Opportunity - ------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------------------------------- For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------- 2006 2007 - ------------------------------------------------------------------------------------------------------------------- EQ/International Growth - ------------------------------------------------------------------------------------------------------------------- Unit value $ 142.89 $ 164.04 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 14 40 - ------------------------------------------------------------------------------------------------------------------- EQ/JPMorgan Core Bond - ------------------------------------------------------------------------------------------------------------------- Unit value $ 116.91 $ 119.09 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 144 159 - ------------------------------------------------------------------------------------------------------------------- EQ/JPMorgan Value Opportunities - ------------------------------------------------------------------------------------------------------------------- Unit value $ 127.65 $ 124.59 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 39 38 - ------------------------------------------------------------------------------------------------------------------- EQ/Large Cap Core PLUS - ------------------------------------------------------------------------------------------------------------------- Unit value $ 104.21 $ 106.95 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 28 26 - ------------------------------------------------------------------------------------------------------------------- EQ/Large Cap Growth PLUS - ------------------------------------------------------------------------------------------------------------------- Unit value $ 98.21 $ 112.19 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 178 167 - ------------------------------------------------------------------------------------------------------------------- EQ/Legg Mason Value Equity - ------------------------------------------------------------------------------------------------------------------- Unit value $ 112.35 $ 104.42 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 41 49 - ------------------------------------------------------------------------------------------------------------------- EQ/Long Term Bond - ------------------------------------------------------------------------------------------------------------------- Unit value $ 100.69 $ 106.83 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 33 41 - ------------------------------------------------------------------------------------------------------------------- EQ/Lord Abbett Growth and Income - ------------------------------------------------------------------------------------------------------------------- Unit value $ 122.86 $ 125.59 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 10 13 - ------------------------------------------------------------------------------------------------------------------- EQ/Lord Abbett Large Cap Core - ------------------------------------------------------------------------------------------------------------------- Unit value $ 117.71 $ 128.70 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 5 10 - ------------------------------------------------------------------------------------------------------------------- EQ/Lord Abbett Mid Cap Value - ------------------------------------------------------------------------------------------------------------------- Unit value $ 123.96 $ 123.17 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 23 38 - ------------------------------------------------------------------------------------------------------------------- EQ/Marsico Focus - ------------------------------------------------------------------------------------------------------------------- Unit value $ 154.70 $ 174.30 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 295 326 - ------------------------------------------------------------------------------------------------------------------- EQ/Mid Cap Value PLUS - ------------------------------------------------------------------------------------------------------------------- Unit value $ 140.50 $ 136.59 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 382 349 - ------------------------------------------------------------------------------------------------------------------- EQ/Money Market - ------------------------------------------------------------------------------------------------------------------- Unit value $ 127.45 $ 132.18 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 1 - ------------------------------------------------------------------------------------------------------------------- EQ/Montag & Caldwell Growth - ------------------------------------------------------------------------------------------------------------------- Unit value $ 116.29 $ 138.79 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 5 11 - ------------------------------------------------------------------------------------------------------------------- EQ/Mutual Shares - ------------------------------------------------------------------------------------------------------------------- Unit value $ 107.15 $ 107.60 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 8 73 - ------------------------------------------------------------------------------------------------------------------- EQ/Oppenheimer Global - ------------------------------------------------------------------------------------------------------------------- Unit value $ 110.99 $ 115.91 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 3 17 - ------------------------------------------------------------------------------------------------------------------- EQ/Oppenheimer Main Street Opportunity - ------------------------------------------------------------------------------------------------------------------- Unit value -- $ 95.27 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 3 - -------------------------------------------------------------------------------------------------------------------
Appendix I: Condensed financial information I-3
THE UNIT VALUES AND NUMBERS OF UNITS OUTSTANDING SHOWN BELOW, AS OF DECEMBER 31, 2007, ARE FOR CONTRACTS OFFERED UNDER SEPARATE ACCOUNT A WITH THE SAME DAILY ASSET CHARGE OF 1.20%. - ------------------------------------------------------------------------------------------------------------------- For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------- 1998 1999 - ------------------------------------------------------------------------------------------------------------------- EQ/Oppenheimer Main Street Small Cap - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/PIMCO Real Return - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/Short Duration Bond - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/Small Company Index - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/T. Rowe Price Growth Stock - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/Templeton Growth - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/UBS Growth and Income - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/Van Kampen Comstock - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/Van Kampen Emerging Markets Equity - ------------------------------------------------------------------------------------------------------------------- Unit value $ 81.49 $ 157.61 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 5 - ------------------------------------------------------------------------------------------------------------------- EQ/Van Kampen Mid Cap Growth - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------- EQ/Van Kampen Real Estate - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------- Multimanager Aggressive Equity - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------- Multimanager Core Bond - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------- Multimanager Health Care - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------- Multimanager High Yield - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------- Multimanager International Equity - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------- Multimanager Large Cap Core Equity - ------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------------------------------------------------- For the years ending December 31, - -------------------------------------------------------------------------------------------------------------------------------- 2000 2001 2002 - -------------------------------------------------------------------------------------------------------------------------------- EQ/Oppenheimer Main Street Small Cap - -------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- - -------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - -------------------------------------------------------------------------------------------------------------------------------- EQ/PIMCO Real Return - -------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- - -------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - -------------------------------------------------------------------------------------------------------------------------------- EQ/Short Duration Bond - -------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- - -------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - -------------------------------------------------------------------------------------------------------------------------------- EQ/Small Company Index - -------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 81.65 - -------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 18 - -------------------------------------------------------------------------------------------------------------------------------- EQ/T. Rowe Price Growth Stock - -------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- - -------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - -------------------------------------------------------------------------------------------------------------------------------- EQ/Templeton Growth - -------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- - -------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - -------------------------------------------------------------------------------------------------------------------------------- EQ/UBS Growth and Income - -------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- - -------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - -------------------------------------------------------------------------------------------------------------------------------- EQ/Van Kampen Comstock - -------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- - -------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - -------------------------------------------------------------------------------------------------------------------------------- EQ/Van Kampen Emerging Markets Equity - -------------------------------------------------------------------------------------------------------------------------------- Unit value $ 93.36 $ 87.48 $ 81.32 - -------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 42 44 54 - -------------------------------------------------------------------------------------------------------------------------------- EQ/Van Kampen Mid Cap Growth - -------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- - -------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - -------------------------------------------------------------------------------------------------------------------------------- EQ/Van Kampen Real Estate - -------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- - -------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - -------------------------------------------------------------------------------------------------------------------------------- Multimanager Aggressive Equity - -------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- - -------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - -------------------------------------------------------------------------------------------------------------------------------- Multimanager Core Bond - -------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 106.88 - -------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 83 - -------------------------------------------------------------------------------------------------------------------------------- Multimanager Health Care - -------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 79.09 - -------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 17 - -------------------------------------------------------------------------------------------------------------------------------- Multimanager High Yield - -------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- - -------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - -------------------------------------------------------------------------------------------------------------------------------- Multimanager International Equity - -------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 78.18 - -------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 17 - -------------------------------------------------------------------------------------------------------------------------------- Multimanager Large Cap Core Equity - -------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 76.54 - -------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 21 - -------------------------------------------------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------------------------------------------------- For the years ending December 31, - -------------------------------------------------------------------------------------------------------------------------------- 2003 2004 2005 - -------------------------------------------------------------------------------------------------------------------------------- EQ/Oppenheimer Main Street Small Cap - -------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- - -------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - -------------------------------------------------------------------------------------------------------------------------------- EQ/PIMCO Real Return - -------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 99.44 - -------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 35 - -------------------------------------------------------------------------------------------------------------------------------- EQ/Short Duration Bond - -------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 99.89 - -------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 3 - -------------------------------------------------------------------------------------------------------------------------------- EQ/Small Company Index - -------------------------------------------------------------------------------------------------------------------------------- Unit value $ 117.68 $ 136.81 $ 140.93 - -------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 59 104 133 - -------------------------------------------------------------------------------------------------------------------------------- EQ/T. Rowe Price Growth Stock - -------------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 111.26 $ 114.31 - -------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 2 26 - -------------------------------------------------------------------------------------------------------------------------------- EQ/Templeton Growth - -------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- - -------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - -------------------------------------------------------------------------------------------------------------------------------- EQ/UBS Growth and Income - -------------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 109.27 $ 117.68 - -------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 21 - -------------------------------------------------------------------------------------------------------------------------------- EQ/Van Kampen Comstock - -------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 104.39 - -------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 9 - -------------------------------------------------------------------------------------------------------------------------------- EQ/Van Kampen Emerging Markets Equity - -------------------------------------------------------------------------------------------------------------------------------- Unit value $ 125.29 $ 153.09 $ 200.85 - -------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 69 95 144 - -------------------------------------------------------------------------------------------------------------------------------- EQ/Van Kampen Mid Cap Growth - -------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 123.86 - -------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 4 - -------------------------------------------------------------------------------------------------------------------------------- EQ/Van Kampen Real Estate - -------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- - -------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - -------------------------------------------------------------------------------------------------------------------------------- Multimanager Aggressive Equity - -------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 91.83 - -------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - -------------------------------------------------------------------------------------------------------------------------------- Multimanager Core Bond - -------------------------------------------------------------------------------------------------------------------------------- Unit value $ 109.55 $ 112.44 $ 113.04 - -------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 100 106 121 - -------------------------------------------------------------------------------------------------------------------------------- Multimanager Health Care - -------------------------------------------------------------------------------------------------------------------------------- Unit value $ 100.13 $ 110.93 $ 117.23 - -------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 32 49 57 - -------------------------------------------------------------------------------------------------------------------------------- Multimanager High Yield - -------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 123.10 - -------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - -------------------------------------------------------------------------------------------------------------------------------- Multimanager International Equity - -------------------------------------------------------------------------------------------------------------------------------- Unit value $ 103.76 $ 120.87 $ 137.87 - -------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 31 62 71 - -------------------------------------------------------------------------------------------------------------------------------- Multimanager Large Cap Core Equity - -------------------------------------------------------------------------------------------------------------------------------- Unit value $ 96.89 $ 104.99 $ 110.72 - -------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 31 33 31 - -------------------------------------------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------------------------------- For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------- 2006 2007 - ------------------------------------------------------------------------------------------------------------------- EQ/Oppenheimer Main Street Small Cap - ------------------------------------------------------------------------------------------------------------------- Unit value $ 111.04 $ 107.76 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 3 13 - ------------------------------------------------------------------------------------------------------------------- EQ/PIMCO Real Return - ------------------------------------------------------------------------------------------------------------------- Unit value $ 98.64 $ 108.63 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 56 73 - ------------------------------------------------------------------------------------------------------------------- EQ/Short Duration Bond - ------------------------------------------------------------------------------------------------------------------- Unit value $ 102.60 $ 106.75 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 11 19 - ------------------------------------------------------------------------------------------------------------------- EQ/Small Company Index - ------------------------------------------------------------------------------------------------------------------- Unit value $ 163.91 $ 158.96 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 167 193 - ------------------------------------------------------------------------------------------------------------------- EQ/T. Rowe Price Growth Stock - ------------------------------------------------------------------------------------------------------------------- Unit value $ 108.40 $ 114.84 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 30 152 - ------------------------------------------------------------------------------------------------------------------- EQ/Templeton Growth - ------------------------------------------------------------------------------------------------------------------- Unit value $ 107.73 $ 108.55 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 1 54 - ------------------------------------------------------------------------------------------------------------------- EQ/UBS Growth and Income - ------------------------------------------------------------------------------------------------------------------- Unit value $ 132.73 $ 132.66 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 46 65 - ------------------------------------------------------------------------------------------------------------------- EQ/Van Kampen Comstock - ------------------------------------------------------------------------------------------------------------------- Unit value $ 119.54 $ 115.14 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 23 32 - ------------------------------------------------------------------------------------------------------------------- EQ/Van Kampen Emerging Markets Equity - ------------------------------------------------------------------------------------------------------------------- Unit value $ 271.98 $ 381.60 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 181 196 - ------------------------------------------------------------------------------------------------------------------- EQ/Van Kampen Mid Cap Growth - ------------------------------------------------------------------------------------------------------------------- Unit value $ 133.70 $ 161.70 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 12 34 - ------------------------------------------------------------------------------------------------------------------- EQ/Van Kampen Real Estate - ------------------------------------------------------------------------------------------------------------------- Unit value -- $ 82.93 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 244 - ------------------------------------------------------------------------------------------------------------------- Multimanager Aggressive Equity - ------------------------------------------------------------------------------------------------------------------- Unit value $ 95.60 $ 105.47 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 2 - ------------------------------------------------------------------------------------------------------------------- Multimanager Core Bond - ------------------------------------------------------------------------------------------------------------------- Unit value $ 115.90 $ 121.67 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 111 108 - ------------------------------------------------------------------------------------------------------------------- Multimanager Health Care - ------------------------------------------------------------------------------------------------------------------- Unit value $ 121.77 $ 131.09 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 60 63 - ------------------------------------------------------------------------------------------------------------------- Multimanager High Yield - ------------------------------------------------------------------------------------------------------------------- Unit value $ 134.04 $ 136.92 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 2 - ------------------------------------------------------------------------------------------------------------------- Multimanager International Equity - ------------------------------------------------------------------------------------------------------------------- Unit value $ 170.70 $ 189.61 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 89 88 - ------------------------------------------------------------------------------------------------------------------- Multimanager Large Cap Core Equity - ------------------------------------------------------------------------------------------------------------------- Unit value $ 124.24 $ 128.89 - ------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 29 30 - -------------------------------------------------------------------------------------------------------------------
I-4 Appendix I: Condensed financial information
THE UNIT VALUES AND NUMBERS OF UNITS OUTSTANDING SHOWN BELOW, AS OF DECEMBER 31, 2007, ARE FOR CONTRACTS OFFERED UNDER SEPARATE ACCOUNT A WITH THE SAME DAILY ASSET CHARGE OF 1.20%. - ------------------------------------------------------------------------------------------------------------------------- For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------- 1998 1999 2000 2001 - ------------------------------------------------------------------------------------------------------------------------- Multimanager Large Cap Growth - ------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------- Multimanager Large Cap Value - ------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------- Multimanager Mid Cap Growth - ------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------- Multimanager Mid Cap Value - ------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------- Multimanager Small Cap Growth - ------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------- Multimanager Small Cap Value - ------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------- Multimanager Technology - ------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------- Target 2015 Allocation - ------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------- Target 2025 Allocation - ------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------- Target 2035 Allocation - ------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------- Target 2045 Allocation - ------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------- For the years ending December 31, - ----------------------------------------------------------------------------------------------------------------------------- 2002 2003 2004 - ----------------------------------------------------------------------------------------------------------------------------- Multimanager Large Cap Growth - ----------------------------------------------------------------------------------------------------------------------------- Unit value $ 67.96 $ 87.71 $ 92.44 - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 32 53 65 - ----------------------------------------------------------------------------------------------------------------------------- Multimanager Large Cap Value - ----------------------------------------------------------------------------------------------------------------------------- Unit value $ 79.20 $ 102.57 $ 115.96 - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 32 39 51 - ----------------------------------------------------------------------------------------------------------------------------- Multimanager Mid Cap Growth - ----------------------------------------------------------------------------------------------------------------------------- Unit value $ 62.08 $ 86.02 $ 94.96 - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 43 94 125 - ----------------------------------------------------------------------------------------------------------------------------- Multimanager Mid Cap Value - ----------------------------------------------------------------------------------------------------------------------------- Unit value $ 73.80 $ 102.53 $ 116.68 - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 36 66 91 - ----------------------------------------------------------------------------------------------------------------------------- Multimanager Small Cap Growth - ----------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 114.62 - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 1 - ----------------------------------------------------------------------------------------------------------------------------- Multimanager Small Cap Value - ----------------------------------------------------------------------------------------------------------------------------- Unit value $ 112.91 $ 153.26 $ 177.32 - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 27 54 102 - ----------------------------------------------------------------------------------------------------------------------------- Multimanager Technology - ----------------------------------------------------------------------------------------------------------------------------- Unit value $ 56.71 $ 88.33 $ 91.63 - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 9 31 130 - ----------------------------------------------------------------------------------------------------------------------------- Target 2015 Allocation - ----------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ----------------------------------------------------------------------------------------------------------------------------- Target 2025 Allocation - ----------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ----------------------------------------------------------------------------------------------------------------------------- Target 2035 Allocation - ----------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ----------------------------------------------------------------------------------------------------------------------------- Target 2045 Allocation - ----------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ----------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------- For the years ending December 31, - ----------------------------------------------------------------------------------------------------------------------------- 2005 2006 2007 - ----------------------------------------------------------------------------------------------------------------------------- Multimanager Large Cap Growth - ----------------------------------------------------------------------------------------------------------------------------- Unit value $ 98.17 $ 97.10 $ 106.72 - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 65 66 67 - ----------------------------------------------------------------------------------------------------------------------------- Multimanager Large Cap Value - ----------------------------------------------------------------------------------------------------------------------------- Unit value $ 122.70 $ 144.66 $ 148.12 - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 62 87 93 - ----------------------------------------------------------------------------------------------------------------------------- Multimanager Mid Cap Growth - ----------------------------------------------------------------------------------------------------------------------------- Unit value $ 101.69 $ 110.13 $ 121.76 - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 122 116 107 - ----------------------------------------------------------------------------------------------------------------------------- Multimanager Mid Cap Value - ----------------------------------------------------------------------------------------------------------------------------- Unit value $ 123.75 $ 140.28 $ 138.72 - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 89 85 82 - ----------------------------------------------------------------------------------------------------------------------------- Multimanager Small Cap Growth - ----------------------------------------------------------------------------------------------------------------------------- Unit value $ 121.73 $ 132.55 $ 135.77 - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 26 50 72 - ----------------------------------------------------------------------------------------------------------------------------- Multimanager Small Cap Value - ----------------------------------------------------------------------------------------------------------------------------- Unit value $ 183.41 $ 210.41 $ 187.41 - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 120 127 112 - ----------------------------------------------------------------------------------------------------------------------------- Multimanager Technology - ----------------------------------------------------------------------------------------------------------------------------- Unit value $ 100.73 $ 106.79 $ 124.72 - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 128 124 126 - ----------------------------------------------------------------------------------------------------------------------------- Target 2015 Allocation - ----------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 108.37 $ 114.81 - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 5 - ----------------------------------------------------------------------------------------------------------------------------- Target 2025 Allocation - ----------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 109.32 $ 115.96 - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 2 15 - ----------------------------------------------------------------------------------------------------------------------------- Target 2035 Allocation - ----------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 110.21 $ 116.92 - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 1 7 - ----------------------------------------------------------------------------------------------------------------------------- Target 2045 Allocation - ----------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 110.99 $ 118.22 - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 5 - -----------------------------------------------------------------------------------------------------------------------------
Appendix I: Condensed financial information I-5
THE UNIT VALUES AND NUMBERS OF UNITS OUTSTANDING SHOWN BELOW AS OF DECEMBER 31, 2007, ARE FOR CONTRACTS OFFERED UNDER SEPARATE ACCOUNT A WITH THE SAME DAILY ASSET CHARGE OF 0.50%. - ------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------ 2002 2003 2004 - ------------------------------------------------------------------------------------------------------------------------------ AXA Aggressive Allocation - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 109.38 $ 121.67 - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ AXA Conservative Allocation - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 102.37 $ 108.00 - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ AXA Conservative-Plus Allocation - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 104.36 $ 111.89 - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ AXA Moderate Allocation - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ AXA Moderate-Plus Allocation - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 108.19 $ 120.23 - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Common Stock - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Intermediate Government Securities - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein International - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Large Cap Growth - ------------------------------------------------------------------------------------------------------------------------------ Unit value $ 44.22 $ 54.21 $ 58.46 - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Quality Bond - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Small Cap Growth - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Value - ------------------------------------------------------------------------------------------------------------------------------ Unit value $ 89.18 $ 114.24 $ 128.95 - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ EQ/BlackRock Basic Value Equity - ------------------------------------------------------------------------------------------------------------------------------ Unit value $ 88.81 $ 115.93 $ 127.54 - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ EQ/BlackRock International Value - ------------------------------------------------------------------------------------------------------------------------------ Unit value $ 62.51 $ 79.64 $ 96.39 - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ EQ/Boston Advisors Equity Income - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 107.17 - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ EQ/Calvert Socially Responsible - ------------------------------------------------------------------------------------------------------------------------------ Unit value $ 57.22 $ 72.85 $ 75.08 - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Growth - ------------------------------------------------------------------------------------------------------------------------------ Unit value $ 47.88 $ 59.05 $ 62.01 - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------- For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------- 2005 2006 2007 - ------------------------------------------------------------------------------------------------------------------------------- AXA Aggressive Allocation - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 130.82 $ 153.46 $ 162.11 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- AXA Conservative Allocation - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 110.08 $ 116.51 $ 122.65 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- AXA Conservative-Plus Allocation - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 114.94 $ 124.39 $ 130.56 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- AXA Moderate Allocation - ------------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 103.11 $ 109.30 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- AXA Moderate-Plus Allocation - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 127.61 $ 145.39 $ 153.90 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock - ------------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 104.17 $ 107.52 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 2 - ------------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Intermediate Government Securities - ------------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 100.44 $ 107.06 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein International - ------------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 105.97 $ 118.10 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 1 - ------------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Large Cap Growth - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 66.85 $ 66.16 $ 75.03 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Quality Bond - ------------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 100.81 $ 105.12 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Small Cap Growth - ------------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 103.84 $ 120.87 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 1 - ------------------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Value - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 135.28 $ 163.40 $ 155.34 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/BlackRock Basic Value Equity - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 130.65 $ 157.18 $ 158.23 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/BlackRock International Value - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 106.30 $ 132.94 $ 145.75 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/Boston Advisors Equity Income - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 113.20 $ 130.62 $ 134.77 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/Calvert Socially Responsible - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 81.24 $ 85.06 $ 94.90 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/Capital Guardian Growth - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 64.85 $ 69.30 $ 72.73 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - -------------------------------------------------------------------------------------------------------------------------------
I-6 Appendix I: Condensed financial information
THE UNIT VALUES AND NUMBERS OF UNITS OUTSTANDING SHOWN BELOW AS OF DECEMBER 31, 2007, ARE FOR CONTRACTS OFFERED UNDER SEPARATE ACCOUNT A WITH THE SAME DAILY ASSET CHARGE OF 0.50%. - ------------------------------------------------------------------------------------------------------------------------------- For the years ending December 31, 2002 2003 2004 - ------------------------------------------------------------------------------------------------------------------------------- EQ/Capital Guardian Research - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 73.83 $ 96.60 $ 106.60 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/Caywood-Scholl High Yield Bond - ------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/Davis New York Venture - ------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/Equity 500 Index - ------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/Evergreen International Bond - ------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/Evergreen Omega - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 56.66 $ 77.91 $ 82.98 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/FI Mid Cap - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 71.73 $ 102.49 $ 118.33 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/Franklin Income - ------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/Franklin Small Cap Value - ------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/Franklin Templeton Founding Strategy - ------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/GAMCO Mergers and Acquisitions - ------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/GAMCO Small Company Value - ------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 113.44 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/International Core PLUS - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 61.65 $ 81.36 $ 91.97 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/International Growth - ------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/JPMorgan Core Bond - ------------------------------------------------------------------------------------------------------------------------------- Unit value $108.01 $ 111.09 $ 115.07 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/JPMorgan Value Opportunities - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 78.07 $ 98.51 $ 108.69 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/Large Cap Core PLUS - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 64.03 $ 77.76 $ 86.19 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------------------------------------------- For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------- 2005 2006 2007 - ------------------------------------------------------------------------------------------------------------------------------- EQ/Capital Guardian Research - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 112.49 $ 125.42 $ 126.86 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/Caywood-Scholl High Yield Bond - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 104.56 $ 112.32 $ 114.90 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/Davis New York Venture - ------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 97.46 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/Equity 500 Index - ------------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 103.22 $ 108.06 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/Evergreen International Bond - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 97.69 $ 100.53 $ 109.34 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/Evergreen Omega - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 85.83 $ 90.42 $ 100.16 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/FI Mid Cap - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 125.23 $ 138.97 $ 149.37 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/Franklin Income - ------------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 104.56 $ 106.18 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/Franklin Small Cap Value - ------------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 108.50 $ 98.64 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/Franklin Templeton Founding Strategy - ------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 95.67 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/GAMCO Mergers and Acquisitions - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 105.64 $ 117.94 $ 121.36 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/GAMCO Small Company Value - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 117.75 $ 139.23 $ 151.41 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/International Core PLUS - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 107.18 $ 127.17 $ 145.80 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/International Growth - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 115.64 $ 144.57 $ 167.16 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/JPMorgan Core Bond - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 117.03 $ 121.18 $ 124.31 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/JPMorgan Value Opportunities - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 112.39 $ 134.61 $ 132.31 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/Large Cap Core PLUS - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 91.93 $ 103.30 $ 106.78 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - -------------------------------------------------------------------------------------------------------------------------------
Appendix I: Condensed financial information I-7
THE UNIT VALUES AND NUMBERS OF UNITS OUTSTANDING SHOWN BELOW AS OF DECEMBER 31, 2007, ARE FOR CONTRACTS OFFERED UNDER SEPARATE ACCOUNT A WITH THE SAME DAILY ASSET CHARGE OF 0.50%. - ---------------------------------------------------------------------------------------------------------------- For the years ending December 31, - ---------------------------------------------------------------------------------------------------------------- 2002 2003 - ---------------------------------------------------------------------------------------------------------------- EQ/Large Cap Growth PLUS - ---------------------------------------------------------------------------------------------------------------- Unit value $ 35.99 $ 46.31 - ---------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ---------------------------------------------------------------------------------------------------------------- EQ/Legg Mason Value Equity - ---------------------------------------------------------------------------------------------------------------- Unit value -- -- - ---------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ---------------------------------------------------------------------------------------------------------------- EQ/Long Term Bond - ---------------------------------------------------------------------------------------------------------------- Unit value -- -- - ---------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ---------------------------------------------------------------------------------------------------------------- EQ/Lord Abbett Growth and Income - ---------------------------------------------------------------------------------------------------------------- Unit value -- -- - ---------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ---------------------------------------------------------------------------------------------------------------- EQ/Lord Abbett Large Cap Core - ---------------------------------------------------------------------------------------------------------------- Unit value -- -- - ---------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ---------------------------------------------------------------------------------------------------------------- EQ/Lord Abbett Mid Cap Value - ---------------------------------------------------------------------------------------------------------------- Unit value -- -- - ---------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ---------------------------------------------------------------------------------------------------------------- EQ/Marsico Focus - ---------------------------------------------------------------------------------------------------------------- Unit value $ 93.38 $ 121.84 - ---------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ---------------------------------------------------------------------------------------------------------------- EQ/Mid Cap Value PLUS - ---------------------------------------------------------------------------------------------------------------- Unit value $ 95.25 $ 126.30 - ---------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ---------------------------------------------------------------------------------------------------------------- EQ/Money Market - ---------------------------------------------------------------------------------------------------------------- Unit value -- -- - ---------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ---------------------------------------------------------------------------------------------------------------- EQ/Montag & Caldwell Growth - ---------------------------------------------------------------------------------------------------------------- Unit value -- -- - ---------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ---------------------------------------------------------------------------------------------------------------- EQ/Mutual Shares - ---------------------------------------------------------------------------------------------------------------- Unit value -- -- - ---------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ---------------------------------------------------------------------------------------------------------------- EQ/Oppenheimer Global - ---------------------------------------------------------------------------------------------------------------- Unit value -- -- - ---------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ---------------------------------------------------------------------------------------------------------------- EQ/Oppenheimer Main Street Opportunity - ---------------------------------------------------------------------------------------------------------------- Unit value -- -- - ---------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ---------------------------------------------------------------------------------------------------------------- EQ/Oppenheimer Main Street Small Cap - ---------------------------------------------------------------------------------------------------------------- Unit value -- -- - ---------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ---------------------------------------------------------------------------------------------------------------- EQ/PIMCO Real Return - ---------------------------------------------------------------------------------------------------------------- Unit value -- -- - ---------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ---------------------------------------------------------------------------------------------------------------- EQ/Short Duration Bond - ---------------------------------------------------------------------------------------------------------------- Unit value -- -- - ---------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ---------------------------------------------------------------------------------------------------------------- EQ/Small Company Index - ---------------------------------------------------------------------------------------------------------------- Unit value $ 82.28 $ 119.41 - ---------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ---------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------- For the years ending December 31, - ----------------------------------------------------------------------------------------------------------------------------- 2004 2005 2006 - ----------------------------------------------------------------------------------------------------------------------------- EQ/Large Cap Growth PLUS - ----------------------------------------------------------------------------------------------------------------------------- Unit value $ 51.89 $ 56.29 $ 60.37 - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ----------------------------------------------------------------------------------------------------------------------------- EQ/Legg Mason Value Equity - ----------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 106.62 $ 113.34 - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ----------------------------------------------------------------------------------------------------------------------------- EQ/Long Term Bond - ----------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 100.56 $ 101.88 - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ----------------------------------------------------------------------------------------------------------------------------- EQ/Lord Abbett Growth and Income - ----------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 105.59 $ 124.31 - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ----------------------------------------------------------------------------------------------------------------------------- EQ/Lord Abbett Large Cap Core - ----------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 106.21 $ 119.10 - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ----------------------------------------------------------------------------------------------------------------------------- EQ/Lord Abbett Mid Cap Value - ----------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 112.11 $ 125.42 - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ----------------------------------------------------------------------------------------------------------------------------- EQ/Marsico Focus - ----------------------------------------------------------------------------------------------------------------------------- Unit value $ 133.98 $ 147.58 $ 160.53 - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ----------------------------------------------------------------------------------------------------------------------------- EQ/Mid Cap Value PLUS - ----------------------------------------------------------------------------------------------------------------------------- Unit value $ 148.09 $ 164.04 $ 183.59 - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ----------------------------------------------------------------------------------------------------------------------------- EQ/Money Market - ----------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 100.76 - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ----------------------------------------------------------------------------------------------------------------------------- EQ/Montag & Caldwell Growth - ----------------------------------------------------------------------------------------------------------------------------- Unit value $ 104.85 $ 109.97 $ 118.12 - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ----------------------------------------------------------------------------------------------------------------------------- EQ/Mutual Shares - ----------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 107.38 - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ----------------------------------------------------------------------------------------------------------------------------- EQ/Oppenheimer Global - ----------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 111.23 - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ----------------------------------------------------------------------------------------------------------------------------- EQ/Oppenheimer Main Street Opportunity - ----------------------------------------------------------------------------------------------------------------------------- Unit value -- -- -- - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ----------------------------------------------------------------------------------------------------------------------------- EQ/Oppenheimer Main Street Small Cap - ----------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 111.28 - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ----------------------------------------------------------------------------------------------------------------------------- EQ/PIMCO Real Return - ----------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 99.91 $ 99.80 - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ----------------------------------------------------------------------------------------------------------------------------- EQ/Short Duration Bond - ----------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 100.36 $ 103.81 - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ----------------------------------------------------------------------------------------------------------------------------- EQ/Small Company Index - ----------------------------------------------------------------------------------------------------------------------------- Unit value $ 139.82 $ 145.04 $ 169.88 - ----------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ----------------------------------------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------ 2007 - ------------------------------------------------------------------------------------------------------ EQ/Large Cap Growth PLUS - ------------------------------------------------------------------------------------------------------ Unit value $ 69.45 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- - ------------------------------------------------------------------------------------------------------ EQ/Legg Mason Value Equity - ------------------------------------------------------------------------------------------------------ Unit value $ 106.08 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- - ------------------------------------------------------------------------------------------------------ EQ/Long Term Bond - ------------------------------------------------------------------------------------------------------ Unit value $ 108.86 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- - ------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Growth and Income - ------------------------------------------------------------------------------------------------------ Unit value $ 127.98 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- - ------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Large Cap Core - ------------------------------------------------------------------------------------------------------ Unit value $ 131.15 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- - ------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Mid Cap Value - ------------------------------------------------------------------------------------------------------ Unit value $ 125.51 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- - ------------------------------------------------------------------------------------------------------ EQ/Marsico Focus - ------------------------------------------------------------------------------------------------------ Unit value $ 182.16 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- - ------------------------------------------------------------------------------------------------------ EQ/Mid Cap Value PLUS - ------------------------------------------------------------------------------------------------------ Unit value $ 179.75 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- - ------------------------------------------------------------------------------------------------------ EQ/Money Market - ------------------------------------------------------------------------------------------------------ Unit value $ 105.25 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- - ------------------------------------------------------------------------------------------------------ EQ/Montag & Caldwell Growth - ------------------------------------------------------------------------------------------------------ Unit value $ 141.99 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- - ------------------------------------------------------------------------------------------------------ EQ/Mutual Shares - ------------------------------------------------------------------------------------------------------ Unit value $ 108.61 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- - ------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Global - ------------------------------------------------------------------------------------------------------ Unit value $ 116.99 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- - ------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Opportunity - ------------------------------------------------------------------------------------------------------ Unit value $ 95.69 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- - ------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Small Cap - ------------------------------------------------------------------------------------------------------ Unit value $ 108.77 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- - ------------------------------------------------------------------------------------------------------ EQ/PIMCO Real Return - ------------------------------------------------------------------------------------------------------ Unit value $ 110.69 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- - ------------------------------------------------------------------------------------------------------ EQ/Short Duration Bond - ------------------------------------------------------------------------------------------------------ Unit value $ 108.78 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- - ------------------------------------------------------------------------------------------------------ EQ/Small Company Index - ------------------------------------------------------------------------------------------------------ Unit value $ 165.93 - ------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- - ------------------------------------------------------------------------------------------------------
I-8 Appendix I: Condensed financial information
THE UNIT VALUES AND NUMBERS OF UNITS OUTSTANDING SHOWN BELOW AS OF DECEMBER 31, 2007, ARE FOR CONTRACTS OFFERED UNDER SEPARATE ACCOUNT A WITH THE SAME DAILY ASSET CHARGE OF 0.50%. - ------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------ 2002 2003 2004 - ------------------------------------------------------------------------------------------------------------------------------ EQ/T.Rowe Price Growth Stock - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 111.43 - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ EQ/Templeton Growth - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ EQ/UBS Growth and Income - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 109.44 - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Comstock - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Emerging Markets Equity - ------------------------------------------------------------------------------------------------------------------------------ Unit value $ 70.62 $ 109.56 $ 134.82 - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Mid Cap Growth - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Real Estate - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ Multimanager Aggressive Equity - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ Multimanager Core Bond - ------------------------------------------------------------------------------------------------------------------------------ Unit value $107.64 $ 111.11 $ 114.85 - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ Multimanager Health Care - ------------------------------------------------------------------------------------------------------------------------------ Unit value $ 79.66 $ 101.56 $ 113.31 - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ Multimanager High Yield - ------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ Multimanager International Equity - ------------------------------------------------------------------------------------------------------------------------------ Unit value $ 78.74 $ 105.24 $ 123.46 - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Core Equity - ------------------------------------------------------------------------------------------------------------------------------ Unit value $ 77.08 $ 98.27 $ 107.24 - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Growth - ------------------------------------------------------------------------------------------------------------------------------ Unit value $ 68.45 $ 88.96 $ 94.42 - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Value - ------------------------------------------------------------------------------------------------------------------------------ Unit value $ 79.76 $ 104.03 $ 118.45 - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ Multimanager Mid Cap Growth - ------------------------------------------------------------------------------------------------------------------------------ Unit value $ 62.53 $ 87.24 $ 96.99 - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ Multimanager Mid Cap Value - ------------------------------------------------------------------------------------------------------------------------------ Unit value $ 74.33 $ 103.99 $ 119.18 - ------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------- For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------- 2005 2006 2007 - ------------------------------------------------------------------------------------------------------------------------------- EQ/T.Rowe Price Growth Stock - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 115.29 $ 110.11 $ 117.48 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/Templeton Growth - ------------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 107.79 $ 109.56 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/UBS Growth and Income - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 118.70 $ 134.82 $ 135.71 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/Van Kampen Comstock - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 104.88 $ 120.95 $ 117.33 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/Van Kampen Emerging Markets Equity - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 178.13 $ 242.92 $ 343.25 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/Van Kampen Mid Cap Growth - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 124.44 $ 135.28 $ 164.77 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- EQ/Van Kampen Real Estate - ------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 83.23 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- 1 - ------------------------------------------------------------------------------------------------------------------------------- Multimanager Aggressive Equity - ------------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 105.24 $ 116.93 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- Multimanager Core Bond - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 116.28 $ 120.06 $ 126.94 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- Multimanager Health Care - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 120.59 $ 126.14 $ 136.76 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- Multimanager High Yield - ------------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 102.63 $ 105.59 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- Multimanager International Equity - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 141.82 $ 176.83 $ 197.82 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- Multimanager Large Cap Core Equity - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 113.89 $ 128.70 $ 134.47 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- Multimanager Large Cap Growth - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 100.98 $ 100.59 $ 111.34 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- Multimanager Large Cap Value - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 126.22 $ 149.85 $ 154.53 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- Multimanager Mid Cap Growth - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 104.60 $ 114.09 $ 127.03 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- Multimanager Mid Cap Value - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 127.30 $ 145.32 $ 144.72 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - -------------------------------------------------------------------------------------------------------------------------------
Appendix I: Condensed financial information I-9
THE UNIT VALUES AND NUMBERS OF UNITS OUTSTANDING SHOWN BELOW AS OF DECEMBER 31, 2007, ARE FOR CONTRACTS OFFERED UNDER SEPARATE ACCOUNT A WITH THE SAME DAILY ASSET CHARGE OF 0.50%. - ------------------------------------------------------------------------------------------------------------------------------- For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------- 2002 2003 Multimanager Small Cap Growth - ------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------- Multimanager Small Cap Value - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 108.77 $ 148.68 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------- Multimanager Technology - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 57.12 $ 89.59 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------- Target 2015 Allocation - ------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------- Target 2025 Allocation - ------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------- Target 2035 Allocation - ------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------- Target 2045 Allocation - ------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------------------------------------------- For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------- 2004 2005 2006 - ------------------------------------------------------------------------------------------------------------------------------- Multimanager Small Cap Growth - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 114.80 $ 122.78 $ 134.64 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- Multimanager Small Cap Value - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 173.24 $ 180.45 $ 208.48 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- Multimanager Technology - ------------------------------------------------------------------------------------------------------------------------------- Unit value $ 93.59 $ 103.61 $ 110.62 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- Target 2015 Allocation - ------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 108.60 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- Target 2025 Allocation - ------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 109.56 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- Target 2035 Allocation - ------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 110.45 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- Target 2045 Allocation - ------------------------------------------------------------------------------------------------------------------------------- Unit value -- -- $ 111.24 - ------------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------------------------- For the years ending December 31, - -------------------------------------------------------------------------------------------------------- 2007 Multimanager Small Cap Growth - -------------------------------------------------------------------------------------------------------- Unit value $ 138.89 - -------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- - -------------------------------------------------------------------------------------------------------- Multimanager Small Cap Value - -------------------------------------------------------------------------------------------------------- Unit value $ 187.01 - -------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- - -------------------------------------------------------------------------------------------------------- Multimanager Technology - -------------------------------------------------------------------------------------------------------- Unit value $ 130.12 - -------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- - -------------------------------------------------------------------------------------------------------- Target 2015 Allocation - -------------------------------------------------------------------------------------------------------- Unit value $ 115.88 - -------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- - -------------------------------------------------------------------------------------------------------- Target 2025 Allocation - -------------------------------------------------------------------------------------------------------- Unit value $ 117.04 - -------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- - -------------------------------------------------------------------------------------------------------- Target 2035 Allocation - -------------------------------------------------------------------------------------------------------- Unit value $ 118.01 - -------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- - -------------------------------------------------------------------------------------------------------- Target 2045 Allocation - -------------------------------------------------------------------------------------------------------- Unit value $ 119.32 - -------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- - --------------------------------------------------------------------------------------------------------
I-10 Appendix I: Condensed financial information Appendix II: Market value adjustment example - -------------------------------------------------------------------------------- The example below shows how the market value adjustment would be determined and how it would be applied to a withdrawal, assuming that $100,000 was allocated on June 15, 2008 to a fixed maturity option with a maturity date of June 15, 2016 (eight years later) at a hypothetical rate to maturity of 7.00% (h), resulting in a maturity value of $171,882 on the maturity date. We further assume that a withdrawal of $50,000 is made four years later, on June 15, 2012.(a)
- ----------------------------------------------------------------------------------------------- Hypothetical assumed rate to maturity(j) on June 15, 2012 ---------------------------------------------- 5% 9% - ----------------------------------------------------------------------------------------------- As of June 15, 2012 before withdrawal - ----------------------------------------------------------------------------------------------- (1) market adjusted amount(b) $141,389 $121,737 - ----------------------------------------------------------------------------------------------- (2) fixed maturity amount(c) $131,104 $131,104 - ----------------------------------------------------------------------------------------------- (3) market value adjustment: (1) - (2) $ 10,285 $ (9,367) - ----------------------------------------------------------------------------------------------- On June 15, 2012 after $50,000 withdrawal - ----------------------------------------------------------------------------------------------- (4) portion of market value adjustment associated with the withdrawal: (3) x [$50,000/(1)] $ 3,637 $ (3,847) - ----------------------------------------------------------------------------------------------- (5) portion of fixed maturity associated with the withdrawal: $50,000 - (4) $ 46,363 $ 53,847 - ----------------------------------------------------------------------------------------------- (6) market adjusted amount (1) - $50,000 $ 91,389 $ 71,737 - ----------------------------------------------------------------------------------------------- (7) fixed maturity amount: (2) - (5) $ 84,741 $ 77,257 - ----------------------------------------------------------------------------------------------- (8) maturity value (d) $111,099 $101,287 - -----------------------------------------------------------------------------------------------
You should note that in this example, if a withdrawal is made when rates have increased from 7.00% to 9.00% (right column), a portion of a negative market value adjustment is realized. On the other hand, if a withdrawal is made when rates have decreased from 7.00% to 5.00% (left column), a portion of a positive market value adjustment is realized. Notes: (a) Number of days from the withdrawal date to the maturity date = D = 1,461 (b) Market adjusted amount is based on the following calculation: Maturity value $171,882 ---------------- ------------- = where j is either 5% or 9% (1+j)(D/365) (1+j)(1,461/365) (c) Fixed maturity amount is based on the following calculation: Maturity value $171,882 ---------------- ------------- = (1+h)(D/365) (1+0.07)(1,461/365) (d) Maturity value is based on the following calculation: Fixed maturity amount x (1+h)(D/365) = ($84,741 or $77,257)x (1+0.07)(1,461/365) Appendix II: Market value adjustment example II-1 Appendix III: Death benefit example - -------------------------------------------------------------------------------- If you do not elect the enhanced death benefit, the death benefit is equal to (i) your account value (without any negative market value adjustment), or (ii) the standard death benefit, less any outstanding loan balance (including any accrued, but unpaid loan interest). The standard death benefit is equal to your total contributions, adjusted for withdrawals, including any withdrawal charges and taxes that may apply. If you elect the enhanced death benefit, the death benefit is equal to (i) the account value (without any negative market adjustment that would otherwise apply), or (ii) the enhanced death benefit as of the date of your death, whichever provides the highest amount. Please see "Death benefit" under "Contract features and benefits" earlier in this prospectus for more detailed information. The following illustrates the death benefit calculation. Assuming $100,000 is allocated to the variable investment options, no additional contributions, no transfers and no loans or withdrawals, the death benefit for a participant age 45 would be calculated as follows:
- -------------------------------------------------------------------------------------------- End of participation year Account value(1) Contribution Enhanced death benefit - -------------------------------------------------------------------------------------------- 1 $ 105,000(2) $100,000 $ 100,000 - -------------------------------------------------------------------------------------------- 2 $ 115,500(2) $ 100,000 - -------------------------------------------------------------------------------------------- 3 $ 129,360(2) $ 129,360 (2) - -------------------------------------------------------------------------------------------- 4 $ 103,488 $ 129,360(3) - -------------------------------------------------------------------------------------------- 5 $ 113,837 $ 129,360 (3) - -------------------------------------------------------------------------------------------- 6 $ 127,497 $ 129,360(3) - -------------------------------------------------------------------------------------------- 7 $ 127,497 $ 129,360 (3) - -------------------------------------------------------------------------------------------- 8 $ 133,872(2) $ 129,360 - -------------------------------------------------------------------------------------------- 9 $ 147,259 $ 147,259 (4) - --------------------------------------------------------------------------------------------
The account values for participation years 1 through 9 are based on hypothetical rates of return of 5.00%, 10.00%, 12.00%, (20.00)%, 10.00%, 12.00%, 0.00%, 5.00% and 10.00%. We are using these rates solely to illustrate how the benefit is determined. The return rates bear no relationship to past or future investment results. (1) If the enhanced death benefit was not elected, the death benefit on each participation date anniversary would be equal to the account value, since it is higher than the contribution. (2) If the enhanced death benefit was elected, at the end of participation years 1, 2, 3 and 8, the death benefit will be equal to the account value. Also in participation year 3, the enhanced death benefit is increased to equal the account value. (3) At the end of participation years 4, 5, 6 and 7, the death benefit would be equal to the enhanced death benefit since it is higher than the account value. Also, at the end of participation year 6, no adjustment would be made to the enhanced death benefit, since the enhanced death benefit is higher than the account value. (4) At the end of participation year 9, the enhanced death benefit would be increased to the account value, since the account value on the participation date anniversary is higher than the current enhanced death benefit. III-1 Appendix III: Death benefit example Appendix IV: State contract availability and/or variations of certain features and benefits - -------------------------------------------------------------------------------- STATES WHERE CERTAIN EQUI-VEST(R) STRATEGIES EMPLOYER-SPONSORED RETIREMENT PROGRAMS FEATURES AND/OR BENEFITS ARE NOT AVAILABLE OR HAVE CERTAIN VARIATIONS TO FEATURES AND/OR BENEFITS:
- ------------------------------------------------------------------------------------------------------------------------------------ Contract type/Series/ State Features and benefits Effective Date Availability or variation - ------------------------------------------------------------------------------------------------------------------------------------ CALIFORNIA See "Contract features and If you reside in the state of California and you are age benefits"--"Your right to 60 or older at the time the contract is issued, you may cancel within a certain return your variable annuity contract within 30 days from number of days" the date that you receive it and receive a refund as described below. If you allocate your entire initial contribution to the EQ/Money Market option, the amount of your refund will be equal to your contribution less interest, unless you make a transfer, in which case the amount of your refund will be equal to your account value on the date we receive your request to cancel at our processing office. This amount could be less than your initial contribution. If you allocate any portion of your initial contribution to variable investment options other than the EQ/Money Market option, your refund will be equal to your account value on the date we receive your request to cancel at our processing office. - ------------------------------------------------------------------------------------------------------------------------------------ MASSACHUSETTS See "Withdrawal Charge" EDC 457 Contracts Waivers (4), (5), and (6) are not available. in the "Charges under the contract" section under "Charges and expenses" - ------------------------------------------------------------------------------------------------------------------------------------ MISSOURI See "Withdrawal Charge" All contract types and Waiver (4) regarding total disability is not available. in the "Charges under the series. contract" section under "Charges and expenses" - ------------------------------------------------------------------------------------------------------------------------------------ NEW HAMPSHIRE See "Withdrawal Charge" All contract types and Waiver (6) regarding the definition of a nursing home in the "Charges under the series. was changed to "(a) a provider of skilled nursing care ser- contract" section under vice", while it only needs to "provide continuous room and "Charges and expenses" board." - ------------------------------------------------------------------------------------------------------------------------------------ TEXAS See "Loans" in "Accessing TSA 403(b) Contracts Taking a loan in excess of the Internal Revenue Code your money" limits may result in adverse tax consequences. Please consult your tax adviser before taking a loan that exceeds the Internal Revenue Code limits. - ------------------------------------------------------------------------------------------------------------------------------------ VERMONT See "Loans under TSA, Taking a loan in excess of Internal Revenue Code limits governmental employer may result in adverse tax consequences. Please consult EDC and Corporate Trust- your tax adviser before taking a loan that exceeds the eed contracts" in Internal Revenue Code limits. "Accessing your money" - ------------------------------------------------------------------------------------------------------------------------------------
Appendix IV: State contract availability and/or variations of certain features and benefits IV-1
- ------------------------------------------------------------------------------------------------------------------------------------ Contract type/Series/ State Features and benefits Effective Date Availability or variation - ------------------------------------------------------------------------------------------------------------------------------------ WASHINGTON See "Withdrawal Charge" All contract types and Waiver (6) regarding the definition of a nursing home is in the "Charges under the series deleted, and replaced with the following: contract" section under "Charges and expenses" "A nursing home for this purpose means any home, place, or institution which operates or maintains facilities providing convalescent or chronic care, or both, for a period in excess of twenty-four consecutive hours for three or more patients not related by blood or marriage to the operator, who by reasons of illness or infirmity, are unable to properly care for themselves and as further defined in RCW 18.51.010" - ------------------------------------------------------------------------------------------------------------------------------------
IV-2 Appendix IV: State contract availability and/or variations of certain features and benefits Statement of additional information - -------------------------------------------------------------------------------- TABLE OF CONTENTS Page Who is AXA Equitable? 2 Calculation of annuity payments 2 Custodian and independent registered public accounting firm 2 Distribution of the contracts 3 Calculating unit values 3 Condensed financial information 4 Financial statements 13 How to obtain an EQUI-VEST(SM) Strategies Statement of Additional Information for Separate Account A Call (800) 628-6673 or send this request form to: EQUI-VEST(SM) Employer Sponsored Programs Processing Office AXA Equitable P.O. Box 4956 Syracuse, NY 13221-4956 Please send me an EQUI-VEST(SM) Strategies Statement of Additional Information dated May 1, 2008 - -------------------------------------------------------------------------------- Name - -------------------------------------------------------------------------------- Address - -------------------------------------------------------------------------------- City State Zip X02030 EQUI-VEST(SM) At Retirement(SM) A combination variable and fixed deferred annuity contract PROSPECTUS DATED MAY 1, 2008 Please read and keep this prospectus for future reference. It contains important information that you should know before purchasing, or taking any other action under your contract. You should read the prospectuses for each Trust which contain important information about the portfolios. - -------------------------------------------------------------------------------- WHAT IS EQUI-VEST(SM) AT RETIREMENT(SM)? EQUI-VEST(SM) At Retirement(SM) is a deferred annuity contract issued by AXA Equitable Life Insurance Company. It provides for the accumulation of retirement savings and for income. The contract offers income and death benefit protection. It also offers a number of payout options. You invest to accumulate value on a tax-deferred basis in one or more of our variable investment options, the guaranteed interest option or fixed maturity options ("investment options"). There is no withdrawal charge under the contract. Certain features and benefits described in this prospectus may vary in your state; all features and benefits may not be available in all contracts or in all states. Please see Appendix V later in this prospectus for more information on state availability and/or variations of certain features and benefits. - -------------------------------------------------------------------------------- Variable investment options - -------------------------------------------------------------------------------- Fixed income - -------------------------------------------------------------------------------- o AXA Conservative Allocation(1) o EQ/JPMorgan Core Bond o AXA Conservative-Plus Allocation(1) o EQ/Long Term Bond o EQ/AllianceBernstein Intermediate o EQ/Money Market Government Securities o EQ/PIMCO Real Return o EQ/AllianceBernstein Quality Bond o EQ/Short Duration Bond o EQ/Caywood-Scholl High Yield Bond o Multimanager Core Bond o EQ/Evergreen International Bond o Multimanager High Yield o EQ/Franklin Income - -------------------------------------------------------------------------------- Domestic stocks - -------------------------------------------------------------------------------- o AXA Aggressive Allocation(1) o EQ/Lord Abbett Growth and Income o AXA Moderate-Plus Allocation(1) o EQ/Lord Abbett Large Cap Core o EQ/AllianceBernstein Common Stock o EQ/Lord Abbett Mid Cap Value o EQ/AllianceBernstein Large Cap o EQ/Marsico Focus Growth o EQ/Mid Cap Value PLUS(4) o EQ/AllianceBernstein Small Cap o EQ/Montag & Caldwell Growth Growth o EQ/Mutual Shares o EQ/AllianceBernstein Value o EQ/Oppenheimer Main Street o EQ/Ariel Appreciation II(2) Opportunity o EQ/AXA Rosenberg Value Long/Short o EQ/Oppenheimer Main Street Small Equity Cap o EQ/BlackRock Basic Value Equity o EQ/Small Company Index o EQ/Boston Advisors Equity Income o EQ/T. Rowe Price Growth Stock o EQ/Calvert Socially Responsible o EQ/Templeton Growth o EQ/Capital Guardian Growth o EQ/UBS Growth and Income o EQ/Capital Guardian Research o EQ/Van Kampen Comstock o EQ/Davis New York Venture o EQ/Van Kampen Mid Cap Growth o EQ/Equity 500 Index o EQ/Van Kampen Real Estate o EQ/Evergreen Omega o Multimanager Aggressive Equity o EQ/FI Mid Cap o Multimanager Health Care o EQ/Franklin Small Cap Value o Multimanager Large Cap Core Equity o EQ/Franklin Templeton Founding o Multimanager Large Cap Growth Strategy o Multimanager Large Cap Value o EQ/GAMCO Mergers and Acquisitions o Multimanager Mid Cap Growth o EQ/GAMCO Small Company Value o Multimanager Mid Cap Value o EQ/JPMorgan Value Opportunities o Multimanager Small Cap Growth o EQ/Large Cap Core PLUS(2) o Multimanager Small Cap Value o EQ/Large Cap Growth PLUS(3) o Multimanager Technology o EQ/Legg Mason Value Equity - -------------------------------------------------------------------------------- International stocks - -------------------------------------------------------------------------------- o EQ/AllianceBernstein International o EQ/Oppenheimer Global o EQ/BlackRock International Value o EQ/Van Kampen Emerging Markets Equity o EQ/International Core PLUS(5) o Multimanager International Equity o EQ/International Growth - -------------------------------------------------------------------------------- Balanced/hybrid - -------------------------------------------------------------------------------- o AXA Moderate Allocation(1) - -------------------------------------------------------------------------------- (1) The AXA Allocation portfolios (2) Not available for TSA contracts. (3) Formerly named "MarketPLUS Large Cap Core." (4) Formerly named "MarketPLUS Large Cap Growth." (5) Formerly named "MarketPLUS Mid Cap Value." (6) Formerly named "MarketPLUS International Core." You may allocate amounts to any of the variable investment options. Each variable investment option is a subaccount of Separate Account A . Each variable investment option, in turn, invests in a corresponding securities portfolio of either the AXA Premier VIP Trust or EQ Advisors Trust (the "Trusts"). Your investment results in a variable investment option will depend on the investment performance of the related portfolio. You may also allocate amounts to the guaranteed interest option and the fixed maturity options, which are discussed later in this prospectus. TYPES OF CONTRACTS. For existing EQUI-VEST(SM) contract owners, we offer the EQUI-VEST(SM) At Retirement(SM) contract for use as: o A nonqualified annuity ("NQ") for after-tax contributions only. o An individual retirement annuity ("IRA"), either traditional IRA or Roth IRA. o An Internal Revenue Code Section 403(b) Tax-Sheltered Annuity ("TSA") (contract must continue to be part of a 403(b) plan). In order to purchase an EQUI-VEST(SM) At Retirement(SM) contract, your initial contribution must be at least $50,000 and must come from the transfer of the cash value of an EQUI-VEST(SM) series variable annuity contract that you currently own under which withdrawal charges no longer apply. The eligible EQUI-VEST(SM) contract types are traditional IRA (including our product designated QP IRA), Roth IRA, NQ, TSA (contract must continue to be part of a 403(b) plan) and the same type of IRA and NQ offered in EQUI-VEST(SM) Express(SM). The transfer of cash value will constitute a termination of that particular EQUI-VEST(SM) contract. You cannot purchase an EQUI-VEST(SM) At Retirement(SM) contract if a rollover or direct transfer contribution into your eligible EQUI-VEST(SM) contract has occurred within two EQUI-VEST(SM) contract years before your purchase of an EQUI-VEST(SM) At Retirement(SM) contract. Additionally, you must be age 55 or older (subject to maximum issue age limitations) and, for TSA contracts, no longer employed by the employer who provided the funds for the purchase of your EQUI-VEST(SM) contract. However, the contract must continue to be a part of a 403(b) plan. We also intend to offer direct rollovers to IRAs for TSA contracts in 2008. The SEC has not approved or disapproved these securities or determined if this prospectus is accurate or complete. Any representation to the contrary is a criminal offense. The contracts are not insured by the FDIC or any other agency. They are not deposits or other obligations of any bank and are not bank guaranteed. They are subject to investment risks and possible loss of principal. X02037/EQUI-VEST At Retirement(SM) ('04) Subject to certain conditions and contribution limitations as described in the above paragraphs, additional EQUI-VEST(SM) traditional IRA contract types may be eligible for replacement with this contract. The additional eligible EQUI-VEST(SM) contract types are: Employer-funded traditional individual retirement annuities ("IRAs"): o A simplified employee pension plan ("SEP") sponsored by an employer. o SEPs funded by salary reduction arrangements ("SARSEPs") for plans established by employers before January 1, 1997. o SIMPLE IRAs funded by employee salary reduction and employer contributions. - -------------------------------------------------------------------------------- The "contract date" is the effective date of a contract. This is the business day we receive the properly completed and signed application, along with any other required documents, and your initial contribution is transferred from your EQUI-VEST(SM) or EQUI-VEST(SM) Express(SM) contract. Your contract date will be shown in your contract. The 12-month period beginning on your contract date and each 12-month period after that date is a "contract year." The end of each 12-month period is your "contract date anniversary." For example, if your contract date is May 1, your contract date anniversary is April 30. - -------------------------------------------------------------------------------- Registration statements relating to this offering have been filed with the Securities and Exchange Commission ("SEC"). The statement of additional information ("SAI") dated May 1, 2008, is part of the registration statement. The SAI is available free of charge. You may request one by writing to our processing office at P.O. Box 4956, Syracuse, NY 13221-4956 or calling (800) 628-6673. The SAI has been incorporated by reference into this prospectus. This prospectus and the SAI can also be obtained from the SEC's website at www.sec.gov. The table of contents for the SAI appears at the back of this prospectus. Contents of this prospectus - -------------------------------------------------------------------------------- EQUI-VEST(SM) AT RETIREMENT(SM) - -------------------------------------------------------------------------------- Index of key words and phrases 5 Who is AXA Equitable? 6 How to reach us 7 EQUI-VEST(SM) At Retirement(SM) at a glance -- key features 9 - -------------------------------------------------------------------------------- FEE TABLE 11 - -------------------------------------------------------------------------------- Example 14 Condensed financial information 16 - -------------------------------------------------------------------------------- 1. CONTRACT FEATURES AND BENEFITS 17 - -------------------------------------------------------------------------------- How you can purchase and contribute to your contract 17 Owner and annuitant requirements 18 How you can make your contributions 18 What are your investment options under the contract? 18 Portfolios of the Trusts 19 Allocating your contributions 25 Guaranteed minimum death benefit and Guaranteed minimum income benefit base 25 Annuity purchase factors 26 Guaranteed minimum income benefit option ("GMIB") 26 Guaranteed minimum death benefit 29 Your right to cancel within a certain number of days 29 - -------------------------------------------------------------------------------- 2. DETERMINING YOUR CONTRACT'S VALUE 30 - -------------------------------------------------------------------------------- Your account value and cash value 30 Your contract's value in the variable investment options 30 Your contract's value in the guaranteed interest option 30 Your contract's value in the fixed maturity options 30 Insufficient account value 30 - ---------------------- "We," "our," and "us" refer to AXA Equitable. When we address the reader of this prospectus with words such as "you" and "your," we mean the person who has the right or responsibility that the prospectus is discussing at that point. This is usually the contract owner. When we use the word "contract" it also includes certificates that are issued under group contracts in some states. Contents of this prospectus 3 - -------------------------------------------------------------------------------- 3. TRANSFERRING YOUR MONEY AMONG INVESTMENT OPTIONS 31 - -------------------------------------------------------------------------------- Transferring your account value 31 Disruptive transfer activity 31 Dollar cost averaging 32 Rebalancing your account value 33 - -------------------------------------------------------------------------------- 4. ACCESSING YOUR MONEY 34 - -------------------------------------------------------------------------------- Withdrawing your account value 34 How withdrawals are taken from your account value 35 How withdrawals affect your Guaranteed minimum income benefit and Guaranteed minimum death benefit 35 Withdrawals treated as surrenders 35 Loans under TSA contracts 35 Surrendering your contract to receive its cash value 36 When to expect payments 36 Your annuity payout options 36 - -------------------------------------------------------------------------------- 5. CHARGES AND EXPENSES 39 - -------------------------------------------------------------------------------- Charges that AXA Equitable deducts 39 Charges that the Trusts deduct 40 Group or sponsored arrangements 40 Other distribution arrangements 40 - -------------------------------------------------------------------------------- 6. PAYMENT OF DEATH BENEFIT 41 - -------------------------------------------------------------------------------- Your beneficiary and payment of benefit 41 Beneficiary continuation option 42 Spousal protection 42 - -------------------------------------------------------------------------------- 7. TAX INFORMATION 45 - -------------------------------------------------------------------------------- Overview 45 Buying a contract to fund a retirement arrangement 45 Transfers among investment options 45 Taxation of nonqualified annuities 45 Individual retirement arrangements (IRAs) 47 Roth individual retirement annuities (Roth IRAs) 50 Tax-sheltered annuity contracts (TSAs) 51 Federal and state income tax withholding and information reporting 55 Impact of taxes to AXA Equitable 56 - -------------------------------------------------------------------------------- 8. MORE INFORMATION 57 - -------------------------------------------------------------------------------- About Separate Account A 57 About the Trusts 57 About our fixed maturity options 57 About the general account 58 Dates and prices at which contract events occur 59 About your voting rights 59 About legal proceedings 60 Financial statements 60 Transfers of ownership, collateral assignments, loans and borrowing 60 Distribution of the contracts 60 - -------------------------------------------------------------------------------- 9. INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE 62 - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- APPENDICES - -------------------------------------------------------------------------------- I -- Condensed Financial Information A-1 II -- Market value adjustment example B-1 III -- Enhanced death benefit example C-1 IV -- Hypothetical illustrations D-1 V -- State contract availability and/or variations of certain features and benefits E-1 - -------------------------------------------------------------------------------- STATEMENT OF ADDITIONAL INFORMATION TABLE OF CONTENTS - -------------------------------------------------------------------------------- 4 Contents of this prospectus Index of key words and phrases - -------------------------------------------------------------------------------- This index should help you locate more information on the terms used in this prospectus. Page in Term Prospectus 6% Roll-Up to age 85 25 account value 30 administrative charge 39 annual administrative charge 39 Annual Ratchet to age 85 enhanced death benefit 26 annuitant 17 annuitization 36 annuity maturity date 24 annuity payout options 36 annuity purchase factors 26 beneficiary 41 Beneficiary continuation option ("BCO") 42 benefit base 25 business day 59 cash value 30 charges for state premium and other applicable taxes 40 contract date cover contract date anniversary cover contract year cover contributions to Roth IRAs 50 regular contributions 50 conversion contributions 50 contributions to traditional IRAs 47 regular contributions 47 rollovers and transfers 47 disruptive transfer activity 31 distribution charge 39 EQAccess 7 ERISA 35 Fixed-dollar option 32 fixed maturity options 24 free look 29 general account 58 general dollar cost averaging 32 guaranteed interest option 24 Guaranteed minimum death benefit 29 Guaranteed minimum death benefit/guaranteed minimum income benefit roll-up benefit base reset option 26 Guaranteed minimum income benefit 27 Guaranteed minimum income benefit charge 39 Guaranteed minimum income benefit "no lapse guarantee" 27 IRA cover IRS 45 investment options cover Investment Simplifier 32 Lifetime minimum distribution withdrawals 34 loans under TSA 35 lump sum withdrawals 38 market adjusted amount 24 market timing 31 market value adjustment 24 maturity dates 24 maturity value 24 Mortality and expense risks charge 39 NQ cover partial withdrawals 34 portfolio cover processing office 7 rate to maturity 24 Rebalancing 33 Roth IRA cover SAI cover SEC cover self-directed allocation 25 Separate Account A 57 Spousal continuation 42 Standard death benefit 25 Systematic withdrawals 34 TOPS 7 Trusts 57 traditional IRA cover TSA cover unit 30 variable investment options 18 To make this prospectus easier to read, we sometimes use different words than in the contract or supplemental materials. This is illustrated below. Although we use different words, they have the same meaning in this prospectus as in the contract. Your financial professional can provide further explanation about your contract or supplemental materials. - -------------------------------------------------------------------------------- Prospectus Contract or Supplemental Materials - -------------------------------------------------------------------------------- account value Annuity Account Value unit Accumulation Unit - -------------------------------------------------------------------------------- Index of key words and phrases 5 Who is AXA Equitable? - -------------------------------------------------------------------------------- We are AXA Equitable Life Insurance Company ("AXA Equitable") (until 2004, The Equitable Life Assurance Society of the United States), a New York stock life insurance corporation. We have been doing business since 1859. AXA Equitable is an indirect, wholly-owned subsidiary of AXA Financial, Inc., a holding company, which is itself an indirect, wholly-owned subsidiary of AXA SA ("AXA"). AXA is a French holding company for an international group of insurance and related financial services companies. As the ultimate sole shareholder of AXA Equitable, and under its other arrangements with AXA Equitable and AXA Equitable's parent, AXA exercises significant influence over the operations and capital structure of AXA Equitable and its parent. AXA holds its interest in AXA Equitable through a number of other intermediate holding companies, including Oudinot Participations, AXA America Holdings, Inc. and AXA Equitable Financial Services, LLC. AXA Equitable is obligated to pay all amounts that are promised to be paid under the contracts. No company other than AXA Equitable, however, has any legal responsibility to pay amounts that AXA Equitable owes under the contracts. AXA Financial, Inc. and its consolidated subsidiaries managed approximately $888.6 billion in assets as of December 31, 2007. For more than 100 years AXA Equitable has been among the largest insurance companies in the United States. We are licensed to sell life insurance and annuities in all fifty states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. Our home office is located at 1290 Avenue of the Americas, New York, NY 10104. 6 Who is AXA Equitable? HOW TO REACH US You may communicate with our processing office as listed below for the purposes described. Certain methods of contacting us, such as by telephone or electronically, may be unavailable or delayed (for example our facsimile service may not be available at all times and/or we may be unavailable due to emergency closing). In addition, the level and type of service available may be restricted based on criteria established by us. - -------------------------------------------------------------------------------- FOR ALL COMMUNICATIONS (E.G., REQUESTS FOR TRANSFERS, WITHDRAWALS, OR REQUIRED NOTICES) SENT BY REGULAR MAIL: - -------------------------------------------------------------------------------- AXA Equitable EQUI-VEST(SM) Processing Office P.O. Box 4956 Syracuse, NY 13221-4956 - -------------------------------------------------------------------------------- FOR ALL COMMUNICATIONS (E.G., REQUESTS FOR TRANSFERS, WITHDRAWALS, OR REQUIRED NOTICES) SENT BY EXPRESS DELIVERY: - -------------------------------------------------------------------------------- AXA Equitable EQUI-VEST(SM) Processing Office 100 Madison Street Suite 1000 Syracuse, NY 13202 - -------------------------------------------------------------------------------- REPORTS WE PROVIDE: - -------------------------------------------------------------------------------- o written confirmation of financial transactions; o quarterly statements of your contract values at the close of each calendar quarter, and o annual statement of your contract values as of the close of the contract year, including notification of eligibility to exercise the Guaranteed minimum income benefit and/or the benefit base reset option. - -------------------------------------------------------------------------------- TELEPHONE OPERATED PROGRAM SUPPORT ("TOPS") AND EQACCESS SYSTEMS: - -------------------------------------------------------------------------------- TOPS is designed to provide you with up-to-date information via touch-tone telephone. EQAccess is designed to provide this information through the Internet. You can obtain information on: o your current account value; o your current allocation percentages; o the number of units you have in the variable investment options; o rates to maturity for the fixed maturity options; o the daily unit values for the variable investment options; and o performance information regarding the variable investment options (not available through TOPS). You can also: o change your allocation percentages and/or transfer among the variable investment options and the guaranteed interest option (not available for transfers to fixed maturity options); and o change your TOPS personal identification number ("PIN") (through TOPS only) and your EQAccess password (through EQAccess only). Under TOPS only you can: o elect investment simplifier. Under EQAccess only you can: o elect to receive certain contract statements electronically; o change your address; and o access Frequently Asked Questions and Service Forms. TOPS and EQAccess are normally available seven days a week, 24 hours a day. You may use TOPS by calling toll free (800) 755-7777. You may use EQAccess by visiting our website at www.axaonline.com and logging in to access your account. Of course, for reasons beyond our control, these services may sometimes be unavailable. We have established procedures to reasonably confirm that the instructions communicated by telephone or the Internet are genuine. For example, we will require certain personal identification information before we will act on telephone or Internet instructions and we will provide written confirmation of your transfers. If we do not employ reasonable procedures to confirm the genuineness of telephone or Internet instructions, we may be liable for any losses arising out of any act or omission that constitutes negligence, lack of good faith, or willful misconduct. In light of our procedures, we will not be liable for following telephone or Internet instructions we reasonably believe to be genuine. We reserve the right to limit access to these services if we determine that you engaged in a disruptive transfer activity, such as "market timing" (see "Disruptive transfer activity" in "Transferring your money among investment options" later in this prospectus). - -------------------------------------------------------------------------------- CUSTOMER SERVICE REPRESENTATIVE: - -------------------------------------------------------------------------------- You may also use our toll-free number (800) 628-6673 to speak with one of our customer service representatives. Our customer service representatives are available on each business day Monday through Thursday from 8:00 a.m. until 7:00 p.m., and on Friday until 5:00 p.m., Eastern time. Hearing or speech-impaired clients may call the AT&T National Relay Number at (800) 855-2880 for information about your account. If you have a Telecommunications Device for the Deaf (TDD), you may relay messages or questions to our Customer Service Department at (800) 628-6673, Monday through Thursday from 8:00 a.m. to 7:00 p.m., and on Friday until 5:00 p.m. Eastern Time. AT&T personnel will communicate our reply back to you via the TDD. WE REQUIRE THAT THE FOLLOWING TYPES OF COMMUNICATIONS BE ON SPECIFIC FORMS WE PROVIDE FOR THAT PURPOSE: (1) election of dollar cost averaging programs; (2) election of the rebalancing program; Who is AXA Equitable? 7 (3) requests for loans under TSA contracts; (4) election of required minimum distribution automatic withdrawal option; (5) election of the beneficiary continuation option; (6) direct transfers; (7) exercise of the Guaranteed minimum income benefit; (8) requests to reset your Roll-Up benefit base (for contracts that have both the Guaranteed minimum income benefit and the Greater of the 6% Roll-Up to age 85 or the Annual Ratchet to age 85 enhanced death benefit); (9) tax withholding election; (10) death claims; (11) change in ownership (NQ only); and (12) contract surrender and withdrawal requests. WE ALSO HAVE SPECIFIC FORMS THAT WE RECOMMEND YOU USE FOR THE FOLLOWING TYPES OF REQUESTS: (1) address changes; (2) beneficiary changes; and (3) transfers between investment options. TO CANCEL OR CHANGE ANY OF THE FOLLOWING WE REQUIRE WRITTEN NOTIFICATION GENERALLY AT LEAST SEVEN CALENDAR DAYS BEFORE THE NEXT SCHEDULED TRANSACTION: (1) general dollar cost averaging (including the investment simplifier); (2) rebalancing; (3) systematic withdrawals; and (4) the date annuity payments are to begin. You must sign and date all these requests. Any written request that is not on one of our forms must include your name and your contract number along with adequate details about the notice you wish to give or the action you wish us to take. SIGNATURES: The proper person to sign forms, notices and requests would normally be the owner. If there are joint owners both must sign. 8 Who is AXA Equitable? EQUI-VEST(SM) At Retirement(SM) at a glance -- key features - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- Professional investment EQUI-VEST(SM) At Retirement(SM)'s variable management investment options invest in different portfolios sub-advised by professional investment advisers. - -------------------------------------------------------------------------------- Fixed maturity options o Fixed maturity options with maturities ranging from approximately 1 to 10 years (subject to availability). o Each fixed maturity option offers a guarantee of principal and interest rate if you hold it to maturity. ------------------------------------------------------ If you make withdrawals or transfers from a fixed maturity option before maturity, there will be a market value adjustment due to differences in interest rates. If you withdraw or transfer only a portion of the amount in a fixed maturity option, this may increase or decrease any value that you have left in that fixed maturity option. If you surrender your contract, a market value adjustment also applies. - -------------------------------------------------------------------------------- Guaranteed interest o Principal and interest guarantees. option o Interest rates set periodically. - -------------------------------------------------------------------------------- Tax considerations o No tax on earnings inside the contract until you make withdrawals from your contract or receive annuity payments. o No tax on transfers among investment options inside the contract. ------------------------------------------------------ If you are purchasing an annuity contract as an Individual Retirement Annuity (IRA) or tax sheltered annuity (TSA), you should be aware that such contracts do not provide tax deferral benefits beyond those already provided by the Internal Revenue Code for tax-qualified arrangements. Before purchasing one of these contracts, you should consider whether its features and benefits beyond tax deferral meet your needs and goals. You may also want to consider the relative features, benefits and costs of these contracts compared with any other investment that you may use in connection with your retirement plan or arrangement. Depending on your personal situation, the contract's guaranteed benefits may have limited usefulness because of required minimum distributions ("RMDs"). - -------------------------------------------------------------------------------- Guaranteed minimum The Guaranteed minimum income benefit ("GMIB") income benefit provides income protection for you during your life once youelect to annuitize the contract. - -------------------------------------------------------------------------------- Contribution amounts o Your initial contribution must be from the transfer of the cash value of an EQUI-VEST(SM) or EQUI- VEST(SM) Express(SM) contract that you currently own, under which withdrawal charges no longer apply, to an EQUI-VEST(SM) At Retirement(SM) contract of the same type, for example, traditional IRA to traditional IRA, NQ to NQ. Initial minimum: $50,000 ------------------------------------------------------ o There is no minimum dollar amount on subsequent contributions but subsequent contributions must also be a transfer of the total cash value of an EQUI-VEST(SM) or EQUI-VEST(SM) Express(SM) contract that you currently own, under which withdrawal charges no longer apply, to an EQUI- VEST(SM) At Retirement(SM) contract of the same type, for example, traditional IRA to traditional IRA, NQ to NQ. We also intend to offer direct rollovers to IRAs for TSA contracts in 2008. - -------------------------------------------------------------------------------- Access to your money o Partial withdrawals o Several withdrawal options on a periodic basis o Loans under TSA contracts o Contract surrender You may incur income tax and a tax penalty. Certain withdrawals will diminish the value of optional benefits. - -------------------------------------------------------------------------------- Payout options o Fixed annuity payout options o Variable Immediate Annuity payout options (described in a separate prospectus for that option) o Income Manager(SM) payout options (described in a separate prospectus for that option) - -------------------------------------------------------------------------------- EQUI-VEST(SM) At Retirement(SM) at a glance -- key features 9 - -------------------------------------------------------------------------------- Additional features o Guaranteed minimum death benefit options o Dollar cost averaging o Account value rebalancing (quarterly, semiannually and annually) o Free transfers o Spousal protection (NQ contracts only) o Beneficiary continuation option o Guaranteed minimum death benefit/Guaranteed minimum income benefit roll-up benefit base reset. o Guaranteed minimum income benefit no lapse guarantee o Successor/owner annuitant - -------------------------------------------------------------------------------- Fees and charges Please see "Fee table" later in this section for complete details. - -------------------------------------------------------------------------------- Annuitant issue ages o 55-75 - -------------------------------------------------------------------------------- The above is not a complete description of all material provisions of the contract. In some cases, restrictions or exceptions apply. Also, all features of the contract are not necessarily available in your state or at certain ages. Please see Appendix V later in this prospectus for more information on state availability and/or variation of certain features and benefits. For more detailed information, we urge you to read the contents of this prospectus, as well as your contract. This prospectus provides a description of all material provisions of the contract. Please feel free to speak with your financial professional or call us, if you have questions. If for any reason you are not satisfied with your contract, you may return it to us for a refund within a certain number of days. Please see "Your right to cancel within a certain number of days" later in this prospectus for additional information. OTHER CONTRACTS We offer a variety of fixed and variable annuity contracts. While you may not be able to make a direct exchange of your EQUI-VEST(SM) contract value into these other contracts, they may offer features, including investment options, credits, fees and/or charges that are different from those in the contracts offered by this prospectus. Not every contract is offered through the same selling broker-dealer. Some selling broker-dealers may not offer and/or limit the offering of certain features or options, as well as limit the availability of the contracts, based on issue age or other criteria established by the selling broker-dealer. Upon request, your financial professional can show you information regarding other AXA Equitable annuity contracts that he or she distributes. You can also contact us to find out more about the availability of any of the AXA Equitable annuity contracts. You should work with your financial professional to decide whether an optional benefit is appropriate for you based on a thorough analysis of your particular insurance needs, financial objectives, investment goals, time horizons and risk tolerance. Some selling broker-dealers may limit their clients from purchasing optional benefits based upon the client's age. 10 EQUI-VEST(SM) At Retirement(SM) at a glance -- key features Fee table - -------------------------------------------------------------------------------- The following tables describe the fees and expenses that you will pay when buying and owning the contract. Each of the charges and expenses is more fully described in "Charges and expenses" later in this prospectus. No sales charges are imposed at the time of purchase, withdrawal or surrender of the contract. Charges designed to approximate certain taxes that may be imposed on us, such as premium taxes in your state may apply. The first table describes fees and expenses that you will pay if you purchase a Variable Immediate Annuity payout option. Charges designed to approximate certain taxes that may be imposed on us, such as premium taxes in your state, may also apply. Charges for certain features shown in the fee table are mutually exclusive. - ----------------------------------------------------------------------------------------------------------------------------------- Charges we deduct from your account value at the time you request certain transactions - ----------------------------------------------------------------------------------------------------------------------------------- Charge if you elect a variable payout option upon annuitization (which is described in a separate prospectus for that option) $ 350 - ----------------------------------------------------------------------------------------------------------------------------------- The next table describes the fees and expenses that you will pay periodically during the time that you own the contract, not including the underlying trust portfolio fees and expenses. - ----------------------------------------------------------------------------------------------------------------------------------- Charges we deduct from your variable investment options expressed as an annual percentage of daily net assets - ----------------------------------------------------------------------------------------------------------------------------------- SEPARATE ACCOUNT ANNUAL EXPENSES: Mortality and expense risks 0.75% Administrative 0.30% Distribution 0.20% ----- Total Separate account annual expenses 1.25% - ----------------------------------------------------------------------------------------------------------------------------------- Charges we deduct from your account value on each contract date anniversary - ----------------------------------------------------------------------------------------------------------------------------------- Maximum annual administrative charge $ 0 There is no annual administrative charge applicable to your EQUI-VEST(SM) At Retirement(SM) contract. - ----------------------------------------------------------------------------------------------------------------------------------- Charges we deduct from your account value each year for the optional benefit that you elect - ----------------------------------------------------------------------------------------------------------------------------------- Guaranteed minimum death benefit charge (calculated as a percentage of the applicable benefit base. Deducted annually(1) on each contract date anniversary for which the benefit is in effect): o Standard death benefit (available only with the Guaranteed minimum income benefit) 0.00% o Annual Ratchet to age 85 0.25% of the Annual Ratchet to age 85 benefit base o Greater of 6% Roll-Up to age 85 or Annual Ratchet to age 85 0.60% of the greater of 6% Roll-Up to age 85 benefit base or the Annual Ratchet to age 85 benefit base, as applicable - ----------------------------------------------------------------------------------------------------------------------------------- Guaranteed minimum income benefit charge (calculated as a percentage of the applicable benefit base. Deducted annually(1) on each contract date anniversary for which the benefit is in effect.) 0.65% - ----------------------------------------------------------------------------------------------------------------------------------- Net loan interest charge -- TSA contracts only (calculated and deducted daily as a percentage of the outstanding loan amount) 2.00%(2) - -----------------------------------------------------------------------------------------------------------------------------------
You also bear your proportionate share of all fees and expenses paid by a "portfolio" that corresponds to any variable investment option you are using. This table shows the lowest and highest total operating expenses charged by any of the portfolios that you will pay periodically during the time that you own the contract. These fees and expenses are reflected in the portfolio's net asset value each day. Therefore, they reduce the investment return of the portfolio and the related variable investment option. Actual fees and expenses are likely to fluctuate from year to year. More detail concerning each portfolio's fees and expenses is contained in the Trust prospectus for the portfolio. Fee table 11 - ----------------------------------------------------------------------------------------------------------------------------------- Portfolio operating expenses expressed as an annual percentage of daily net assets - ----------------------------------------------------------------------------------------------------------------------------------- Total Annual Portfolio Operating Expenses for 2007 (expenses that are deducted Lowest Highest from Portfolio assets including management fees, 12b-1 fees, service fees, and/or ------ ------- other expenses)(3) 0.63% 3.56%
This table shows the fees and expenses for 2007 as an annual percentage of each portfolio's daily average net assets.
- --------------------------------------------------------------------------------------------- Manage- ment 12b-1 Other Portfolio Name Fees(4) Fees(5) expenses(6) - ---------------------------------------------------------------------------------------------- AXA Premier VIP Trust: - --------------------------------------------------------------------------------------------- AXA Aggressive Allocation 0.10% 0.25% 0.17% AXA Conservative Allocation 0.10% 0.25% 0.21% AXA Conservative-Plus Allocation 0.10% 0.25% 0.19% AXA Moderate Allocation 0.10% 0.25% 0.17% AXA Moderate-Plus Allocation 0.10% 0.25% 0.17% Multimanager Aggressive Equity 0.60% 0.25% 0.19% Multimanager Core Bond 0.58% 0.25% 0.18% Multimanager Health Care 1.20% 0.25% 0.23% Multimanager High Yield 0.57% 0.25% 0.19% Multimanager International Equity 1.00% 0.25% 0.23% Multimanager Large Cap Core Equity 0.89% 0.25% 0.21% Multimanager Large Cap Growth 0.90% 0.25% 0.22% Multimanager Large Cap Value 0.87% 0.25% 0.20% Multimanager Mid Cap Growth 1.10% 0.25% 0.20% Multimanager Mid Cap Value 1.09% 0.25% 0.20% Multimanager Small Cap Growth 1.05% 0.25% 0.27% Multimanager Small Cap Value 1.03% 0.25% 0.18% Multimanager Technology 1.20% 0.25% 0.22% - --------------------------------------------------------------------------------------------- EQ Advisors Trust: - --------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock 0.47% 0.25% 0.13% EQ/AllianceBernstein Intermediate Government Securities 0.50% 0.25% 0.13% EQ/AllianceBernstein International 0.71% 0.25% 0.18% EQ/AllianceBernstein Large Cap Growth 0.90% 0.25% 0.13% EQ/AllianceBernstein Quality Bond 0.50% 0.25% 0.14% EQ/AllianceBernstein Small Cap Growth 0.74% 0.25% 0.13% EQ/AllianceBernstein Value 0.59% 0.25% 0.12% EQ/Ariel Appreciation II 0.75% 0.25% 0.26% EQ/AXA Rosenberg Value Long/Short Equity 1.40% 0.25% 1.91% EQ/BlackRock Basic Value Equity 0.55% 0.25% 0.13% EQ/BlackRock International Value 0.81% 0.25% 0.19% EQ/Boston Advisors Equity Income 0.75% 0.25% 0.14% EQ/Calvert Socially Responsible 0.65% 0.25% 0.23% EQ/Capital Guardian Growth 0.65% 0.25% 0.14% EQ/Capital Guardian Research 0.63% 0.25% 0.13% EQ/Caywood-Scholl High Yield Bond 0.60% 0.25% 0.16% EQ/Davis New York Venture 0.85% 0.25% 0.18% EQ/Equity 500 Index 0.25% 0.25% 0.13% EQ/Evergreen International Bond 0.70% 0.25% 0.17% EQ/Evergreen Omega 0.65% 0.25% 0.25% EQ/FI Mid Cap 0.68% 0.25% 0.13% EQ/Franklin Income 0.90% 0.25% 0.15% EQ/Franklin Small Cap Value 0.90% 0.25% 0.18% EQ/Franklin Templeton Founding Strategy 0.05% 0.25% 0.22% EQ/GAMCO Mergers and Acquisitions 0.90% 0.25% 0.19% EQ/GAMCO Small Company Value 0.76% 0.25% 0.12% EQ/International Core PLUS 0.60% 0.25% 0.30% EQ/International Growth 0.85% 0.25% 0.27% EQ/JPMorgan Core Bond 0.43% 0.25% 0.13% EQ/JPMorgan Value Opportunities 0.60% 0.25% 0.14% EQ/Large Cap Core PLUS 0.50% 0.25% 0.25% - --------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------------------------------- Total Acquired Annual Fee Fund Fees Expenses Waivers Net Annual and (Before and/or Expenses Expenses Expense Expense (After (Underlying Limita- Reimburse- Expense Portfolio Name Portfolios)(7) tions) ments(8) Limitations) - ------------------------------------------------------------------------------------------------------------------- AXA Premier VIP Trust: - ------------------------------------------------------------------------------------------------------------------- AXA Aggressive Allocation 0.92% 1.44% (0.17)% 1.27% AXA Conservative Allocation 0.69% 1.25% (0.21)% 1.04% AXA Conservative-Plus Allocation 0.76% 1.30% (0.19)% 1.11% AXA Moderate Allocation 0.82% 1.34% (0.17)% 1.17% AXA Moderate-Plus Allocation 0.86% 1.38% (0.17)% 1.21% Multimanager Aggressive Equity -- 1.04% - 1.04% Multimanager Core Bond -- 1.01% (0.01)% 1.00% Multimanager Health Care -- 1.68% 0.00% 1.68% Multimanager High Yield -- 1.01% - 1.01% Multimanager International Equity -- 1.48% 0.00% 1.48% Multimanager Large Cap Core Equity -- 1.35% 0.00% 1.35% Multimanager Large Cap Growth -- 1.37% (0.02)% 1.35% Multimanager Large Cap Value -- 1.32% 0.00% 1.32% Multimanager Mid Cap Growth -- 1.55% 0.00% 1.55% Multimanager Mid Cap Value -- 1.54% 0.00% 1.54% Multimanager Small Cap Growth -- 1.57% (0.02)% 1.55% Multimanager Small Cap Value -- 1.46% 0.00% 1.46% Multimanager Technology 0.01% 1.68% 0.00% 1.68% - ------------------------------------------------------------------------------------------------------------------- EQ Advisors Trust: - ------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock -- 0.85% -- 0.85% EQ/AllianceBernstein Intermediate Government Securities -- 0.88% -- 0.88% EQ/AllianceBernstein International -- 1.14% (0.04)% 1.10% EQ/AllianceBernstein Large Cap Growth -- 1.28% (0.23)% 1.05% EQ/AllianceBernstein Quality Bond -- 0.89% -- 0.89% EQ/AllianceBernstein Small Cap Growth -- 1.12% -- 1.12% EQ/AllianceBernstein Value -- 0.96% (0.01)% 0.95% EQ/Ariel Appreciation II -- 1.26% (0.11)% 1.15% EQ/AXA Rosenberg Value Long/Short Equity -- 3.56% 0.00% 3.56% EQ/BlackRock Basic Value Equity -- 0.93% 0.00% 0.93% EQ/BlackRock International Value -- 1.25% 0.00% 1.25% EQ/Boston Advisors Equity Income -- 1.14% (0.09)% 1.05% EQ/Calvert Socially Responsible -- 1.13% (0.08)% 1.05% EQ/Capital Guardian Growth 0.01% 1.05% (0.09)% 0.96% EQ/Capital Guardian Research -- 1.01% (0.06)% 0.95% EQ/Caywood-Scholl High Yield Bond -- 1.01% (0.01)% 1.00% EQ/Davis New York Venture -- 1.28% 0.00% 1.28% EQ/Equity 500 Index -- 0.63% -- 0.63% EQ/Evergreen International Bond -- 1.12% 0.00% 1.12% EQ/Evergreen Omega -- 1.15% 0.00% 1.15% EQ/FI Mid Cap -- 1.06% (0.06)% 1.00% EQ/Franklin Income -- 1.30% 0.00% 1.30% EQ/Franklin Small Cap Value -- 1.33% (0.03)% 1.30% EQ/Franklin Templeton Founding Strategy 1.05% 1.57% (0.12)% 1.45%(9) EQ/GAMCO Mergers and Acquisitions -- 1.34% 0.00% 1.34% EQ/GAMCO Small Company Value -- 1.13% 0.00% 1.13% EQ/International Core PLUS 0.04% 1.19% (0.05)% 1.14% EQ/International Growth -- 1.37% 0.00% 1.37% EQ/JPMorgan Core Bond -- 0.81% 0.00% 0.81% EQ/JPMorgan Value Opportunities -- 0.99% (0.04)% 0.95% EQ/Large Cap Core PLUS 0.02% 1.02% (0.05)% 0.97% - ------------------------------------------------------------------------------------------------------------------
12 Fee table
- ----------------------------------------------------------------------------------------------------------------------------------- Total Acquired Annual Fee Fund Fees Expenses Waivers Net Annual and (Before and/or Expenses Manage- Expenses Expense Expense (After ment 12b-1 Other (Underlying Limita- Reimburse- Expense Portfolio Name Fees(4) Fees(5) expenses(6) Portfolios)(7) tions) ments(8) Limitations) - ----------------------------------------------------------------------------------------------------------------------------------- EQ Advisors Trust: - ----------------------------------------------------------------------------------------------------------------------------------- EQ/Large Cap Growth PLUS 0.50% 0.25% 0.24% 0.02% 1.01% (0.04)% 0.97% EQ/Legg Mason Value Equity 0.65% 0.25% 0.17% -- 1.07% (0.07)% 1.00% EQ/Long Term Bond 0.40% 0.25% 0.13% -- 0.78% 0.00% 0.78% EQ/Lord Abbett Growth and Income 0.65% 0.25% 0.16% -- 1.06% (0.06)% 1.00% EQ/Lord Abbett Large Cap Core 0.65% 0.25% 0.21% -- 1.11% (0.11)% 1.00% EQ/Lord Abbett Mid Cap Value 0.70% 0.25% 0.15% -- 1.10% (0.05)% 1.05% EQ/Marsico Focus 0.85% 0.25% 0.13% -- 1.23% (0.08)% 1.15% EQ/Mid Cap Value PLUS 0.55% 0.25% 0.24% 0.02% 1.06% (0.04)% 1.02% EQ/Money Market 0.32% 0.25% 0.13% -- 0.70% -- 0.70% EQ/Montag & Caldwell Growth 0.75% 0.25% 0.15% -- 1.15% 0.00% 1.15% EQ/Mutual Shares 0.90% 0.25% 0.21% -- 1.36% (0.06)% 1.30% EQ/Oppenheimer Global 0.95% 0.25% 0.51% 0.01% 1.72% (0.36)% 1.36% EQ/Oppenheimer Main Street Opportunity 0.85% 0.25% 0.45% 0.01% 1.56% (0.25)% 1.31% EQ/Oppenheimer Main Street Small Cap 0.90% 0.25% 0.48% 0.01% 1.64% (0.33)% 1.31% EQ/PIMCO Real Return 0.55% 0.25% 0.14% -- 0.94% (0.04)% 0.90% EQ/Short Duration Bond 0.43% 0.25% 0.15% -- 0.83% 0.00% 0.83% EQ/Small Company Index 0.25% 0.25% 0.14% -- 0.64% 0.00% 0.64% EQ/T. Rowe Price Growth Stock 0.79% 0.25% 0.14% -- 1.18% (0.03)% 1.15% EQ/Templeton Growth 0.95% 0.25% 0.20% -- 1.40% (0.05)% 1.35% EQ/UBS Growth and Income 0.75% 0.25% 0.16% -- 1.16% (0.11)% 1.05% EQ/Van Kampen Comstock 0.65% 0.25% 0.15% -- 1.05% (0.05)% 1.00% EQ/Van Kampen Emerging Markets Equity 1.11% 0.25% 0.28% -- 1.64% 0.00% 1.64% EQ/Van Kampen Mid Cap Growth 0.70% 0.25% 0.15% -- 1.10% (0.05)% 1.05% EQ/Van Kampen Real Estate 0.90% 0.25% 0.21% -- 1.36% (0.10)% 1.26% - -----------------------------------------------------------------------------------------------------------------------------------
* The EQ/Ariel Appreciation II variable investment option is not available for TSA contracts. Notes: (1) If the contract is surrendered or annuitized or a death benefit is paid on any date other than the contract date anniversary, we will deduct a pro rata portion of the charge for that contract year. (2) We charge interest on loans under TSA contracts but also credit you interest on your loan reserve account. Our net loan interest charge is determined by the excess between the interest rate we charge over the interest rate we credit. See "Loans under TSA contracts" later in this prospectus for more information on how the loan interest is calculated and for restrictions that may apply. (3) "Total Annual Portfolio Operating Expenses" are based, in part, on estimated amounts for options added during the fiscal year 2007 and for the underlying portfolios. (4) The management fees for each portfolio cannot be increased without a vote of that portfolio's shareholders. See footnote (8) for any expense limitation agreement information. (5) Portfolio shares are all subject to fees imposed under the distribution plans (the "Rule 12b-1 Plan") adopted by the Trusts pursuant to Rule 12b-1 under the Investment Company Act of 1940. For the portfolios of the AXA Premier VIP Trust and the EQ Advisors Trust, the 12b-1 fees will not be increased for the life of the contract. (6) Other expenses shown are those incurred in 2007 or are estimated for the current fiscal period. The amounts shown as "Other Expenses" will fluctuate from year to year depend ing on actual expenses. See footnote (8) for any expense limitation agreement information. (7) Each of these variable investment options invests in a corresponding portfolio of one of the Trusts or other unaffiliated investment companies. Each portfolio, in turn, invests in shares of other portfolios of the Trusts and/or shares of unaffiliated portfolios ("underlying portfolios"). Amounts shown reflect each portfolio's pro rata share of the fees and expenses of the underlying portfolio(s) in which it invests. A "--" indicates that the listed portfolio does not invest in underlying portfolios. (8) The amounts shown reflect any fee waivers and/or expense reimbursements that apply to each portfolio. A "--" indicates that there is no expense limitation in effect, and "0.00%" indicates that the expense limitation arrangement did not result in a fee waiver or reimbursement. AXA Equitable, the investment manager of AXA Premier VIP Trust and EQ Advisors Trust, has entered into expense limitation agreements with respect to certain portfolios, which are effective through April 30, 2009. (unless the Board of Trustees of AXA Premier VIP Trust or EQ Advisors Trust, as applicable, consents to an earlier revision or termination of this arrangement). Under these agreements, AXA Equitable has agreed to waive or limit its fees and assume other expenses of certain portfolios, if necessary, in an amount that limits such portfolio's Total Annual Expenses (exclusive of interest, taxes, brokerage commissions, capitalized expenditures, expenses of the underlying portfolios in which the portfolio invests and extraordinary expenses) to not more than the amounts specified in the agreements. Therefore, each portfolio may at a later date make a reimbursement to AXA Equitable for any of the management fees waived or limited and other expenses assumed and paid by AXA Equitable pursuant to the expense limitation agreements provided that the portfolio's current annual operating expenses do not exceed the operating expense limit determined for such portfolio. See the prospectuses for each applicable underlying Trust for more information about the arrangements. In addition, a portion of the brokerage commissions of certain portfolios of AXA Premier VIP Trust and EQ Advisors Trust is used to reduce the applicable portfolio's expenses. If the above table reflected both the expense limitation arrangements plus the portion of the brokerage commissions used to reduce portfolio expenses, the net expenses would be as shown in the table below: Fee table 13 - -------------------------------------------------------------- Portfolio Name: - -------------------------------------------------------------- Multimanager Aggressive Equity 0.97% - -------------------------------------------------------------- Multimanager Health Care 1.67% - -------------------------------------------------------------- Multimanager Large Cap Core Equity 1.34% - -------------------------------------------------------------- Multimanager Large Cap Growth 1.29% - -------------------------------------------------------------- Multimanager Large Cap Value 1.26% - -------------------------------------------------------------- Multimanager Mid Cap Growth 1.52% - -------------------------------------------------------------- Multimanager Mid Cap Value 1.53% - -------------------------------------------------------------- Multimanager Small Cap Growth 1.35% - -------------------------------------------------------------- Multimanager Small Cap Value 1.45% - -------------------------------------------------------------- Multimanager Technology 1.67% - -------------------------------------------------------------- EQ/AllianceBernstein Common Stock 0.84% - -------------------------------------------------------------- EQ/AllianceBernstein Large Cap Growth 1.03% - -------------------------------------------------------------- EQ/AllianceBernstein Small Cap Growth 1.11% - -------------------------------------------------------------- EQ/AllianceBernstein Value 0.87% - -------------------------------------------------------------- EQ/Ariel Appreciation II 1.09% - -------------------------------------------------------------- EQ/BlackRock Basic Value Equity 0.92% - -------------------------------------------------------------- EQ/Davis New York Venture 1.25% - -------------------------------------------------------------- EQ/Evergreen Omega 1.12% - -------------------------------------------------------------- EQ/GAMCO Mergers and Acquisitions 1.33% - -------------------------------------------------------------- EQ/GAMCO Small Company Value 1.10% - -------------------------------------------------------------- EQ/International Core PLUS 1.05% - -------------------------------------------------------------- EQ/Large Cap Core PLUS 0.83% - -------------------------------------------------------------- EQ/Large Cap Growth PLUS 0.82% - -------------------------------------------------------------- EQ/Legg Mason Value Equity 0.97% - -------------------------------------------------------------- EQ/Lord Abbett Growth and Income 0.98% - -------------------------------------------------------------- EQ/Lord Abbett Large Cap Core 0.99% - -------------------------------------------------------------- EQ/Lord Abbett Mid Cap Value 1.04% - -------------------------------------------------------------- EQ/Mid Cap Value PLUS 0.81% - -------------------------------------------------------------- EQ/Montag & Caldwell Growth 1.13% - -------------------------------------------------------------- EQ/T. Rowe Price Growth Stock 0.87% - -------------------------------------------------------------- EQ/UBS Growth and Income 1.04% - -------------------------------------------------------------- EQ/Van Kampen Comstock 0.99% - -------------------------------------------------------------- EQ/Van Kampen Mid Cap Growth 1.04% - -------------------------------------------------------------- (9) In addition to the fee waiver and/or expense reimbursement discussed in the footnote immediately above, AXA Equitable, voluntarily will waive all its management and adminis tration fees and reimburse all other expenses associated with the EQ/Franklin Templeton Founding Strategy portfolio ("portfolio") (exclusive of taxes, interest, brokerage commissions, capitalized expenses, expenses of the investment companies in which the portfolio invests, Rule 12b-1 fees and extraordinary expenses). Accordingly, the Total Annual Operating Expenses (including Acquired Fund Fees and Expenses), taking into account the voluntary waiver by AXA Equitable, will be 1.30%. The voluntary waiver by AXA Equitable will remain in effect until April 30, 2009. EXAMPLE This example is intended to help you compare the cost of investing in the contract with the cost of investing in other variable annuity contracts. These costs include contract owner transaction expenses, contract fees, separate account annual expenses, and underlying trust fees and expenses (including the underlying portfolio fees and expenses). The example below shows the expenses that a hypothetical contract owner (who has elected the enhanced death benefit that provides for the greater of the 6% Roll-Up to age 85 or the Annual Ratchet to age 85 along with the Guaranteed minimum income benefit) would pay in the situations illustrated. The fixed maturity options and guaranteed interest option are not covered by the example. However, the charge for any optional benefits and the charge if you elect a Variable Immediate Annuity payout option do apply to the fixed maturity options and guaranteed interest option. A market value adjustment (up or down) may apply as a result of a withdrawal, transfer, or surrender of amounts from a fixed maturity option. The example assumes that you invest $10,000 in the contract for the time periods indicated, and that your investment has a 5% return each year. The example also assumes maximum contract charges and total annual expenses of the portfolios (before expense limitations) set forth in the previous charts. This example should not be considered a representation of past or future expenses for each option. Actual expenses may be greater or less than those shown. Similarly, the annual rate of return assumed in the example is not an estimate or guarantee of future investment performance. Although your actual costs may be higher or lower, based on these assumptions, your costs would be: 14 Fee table
- ----------------------------------------------------------------------------------------------------- If you annuitize at the end of the applicable time period - ----------------------------------------------------------------------------------------------------- 1 year 3 years 5 years 10 years - ----------------------------------------------------------------------------------------------------- AXA PREMIER VIP TRUST: - ----------------------------------------------------------------------------------------------------- AXA Aggressive Allocation N/A $ 1,626.00 $ 2,531.00 $ 5,004.00 AXA Conservative Allocation N/A $ 1,567.00 $ 2,435.00 $ 4,825.00 AXA Conservative-Plus Allocation N/A $ 1,583.00 $ 2,461.00 $ 4,872.00 AXA Moderate Allocation N/A $ 1,595.00 $ 2,481.00 $ 4,910.00 AXA Moderate-Plus Allocation N/A $ 1,608.00 $ 2,501.00 $ 4,948.00 Multimanager Aggressive Equity N/A $ 1,502.00 $ 2,329.00 $ 4,622.00 Multimanager Core Bond N/A $ 1,493.00 $ 2,313.00 $ 4,592.00 Multimanager Health Care N/A $ 1,700.00 $ 2,651.00 $ 5,226.00 Multimanager High Yield N/A $ 1,493.00 $ 2,313.00 $ 4,592.00 Multimanager International Equity N/A $ 1,639.00 $ 2,551.00 $ 5,042.00 Multimanager Large Cap Core Equity N/A $ 1,598.00 $ 2,486.00 $ 4,920.00 Multimanager Large Cap Growth N/A $ 1,605.00 $ 2,496.00 $ 4,939.00 Multimanager Large Cap Value N/A $ 1,589.00 $ 2,471.00 $ 4,891.00 Multimanager Mid Cap Growth N/A $ 1,660.00 $ 2,587.00 $ 5,107.00 Multimanager Mid Cap Value N/A $ 1,657.00 $ 2,582.00 $ 5,098.00 Multimanager Small Cap Growth N/A $ 1,666.00 $ 2,597.00 $ 5,125.00 Multimanager Small Cap Value N/A $ 1,632.00 $ 2,541.00 $ 5,023.00 Multimanager Technology N/A $ 1,700.00 $ 2,651.00 $ 5,226.00 - ----------------------------------------------------------------------------------------------------- EQ ADVISORS TRUST: - ----------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock N/A $ 1,443.00 $ 2,231.00 $ 4,434.00 EQ/AllianceBernstein Intermediate Government Securities N/A $ 1,452.00 $ 2,246.00 $ 4,464.00 EQ/AllianceBernstein International N/A $ 1,533.00 $ 2,380.00 $ 4,719.00 EQ/AllianceBernstein Large Cap Growth N/A $ 1,577.00 $ 2,451.00 $ 4,853.00 EQ/AllianceBernstein Quality Bond N/A $ 1,455.00 $ 2,252.00 $ 4,474.00 EQ/AllianceBernstein Small Cap Growth N/A $ 1,527.00 $ 2,369.00 $ 4,700.00 EQ/AllianceBernstein Value N/A $ 1,477.00 $ 2,288.00 $ 4,543.00 EQ/Ariel Appreciation II N/A $ 1,571.00 $ 2,441.00 $ 4,834.00 EQ/AXA Rosenberg Value Long/Short Equity N/A $ 2,266.00 $ 3,549.00 $ 6,781.00 EQ/BlackRock Basic Value Equity N/A $ 1,468.00 $ 2,272.00 $ 4,514.00 EQ/BlackRock International Value N/A $ 1,567.00 $ 2,435.00 $ 4,825.00 EQ/Boston Advisors Equity Income N/A $ 1,533.00 $ 2,380.00 $ 4,719.00 EQ/Calvert Socially Responsible N/A $ 1,530.00 $ 2,374.00 $ 4,709.00 EQ/Capital Guardian Growth N/A $ 1,505.00 $ 2,334.00 $ 4,631.00 EQ/Capital Guardian Research N/A $ 1,493.00 $ 2,313.00 $ 4,592.00 EQ/Caywood-Scholl High Yield Bond N/A $ 1,493.00 $ 2,313.00 $ 4,592.00 EQ/Davis New York Venture N/A $ 1,577.00 $ 2,451.00 $ 4,853.00 EQ/Equity 500 Index N/A $ 1,374.00 $ 2,117.00 $ 4,212.00 EQ/Evergreen International Bond N/A $ 1,527.00 $ 2,369.00 $ 4,700.00 EQ/Evergreen Omega N/A $ 1,536.00 $ 2,385.00 $ 4,729.00 EQ/FI Mid Cap N/A $ 1,508.00 $ 2,339.00 $ 4,641.00 EQ/Franklin Income N/A $ 1,583.00 $ 2,461.00 $ 4,872.00 EQ/Franklin Small Cap Value N/A $ 1,592.00 $ 2,476.00 $ 4,901.00 EQ/Franklin Templeton Founding Strategy N/A $ 1,666.00 $ 2,597.00 $ 5,125.00 EQ/GAMCO Mergers and Acquisitions N/A $ 1,595.00 $ 2,481.00 $ 4,910.00 EQ/GAMCO Small Company Value N/A $ 1,530.00 $ 2,374.00 $ 4,709.00 EQ/International Core PLUS N/A $ 1,549.00 $ 2,405.00 $ 4,767.00 EQ/International Growth N/A $ 1,605.00 $ 2,496.00 $ 4,939.00 EQ/JPMorgan Core Bond N/A $ 1,430.00 $ 2,210.00 $ 4,394.00 EQ/JPMorgan Value Opportunities N/A $ 1,487.00 $ 2,303.00 $ 4,573.00 EQ/Large Cap Core PLUS N/A $ 1,496.00 $ 2,318.00 $ 4,602.00 EQ/Large Cap Growth PLUS N/A $ 1,493.00 $ 2,313.00 $ 4,592.00 EQ/Legg Mason Value Equity N/A $ 1,512.00 $ 2,344.00 $ 4,651.00 EQ/Long Term Bond N/A $ 1,421.00 $ 2,195.00 $ 4,364.00 EQ/Lord Abbett Growth and Income N/A $ 1,508.00 $ 2,339.00 $ 4,641.00 EQ/Lord Abbett Large Cap Core N/A $ 1,524.00 $ 2,364.00 $ 4,690.00 EQ/Lord Abbett Mid Cap Value N/A $ 1,521.00 $ 2,359.00 $ 4,680.00 EQ/Marsico Focus N/A $ 1,561.00 $ 2,425.00 $ 4,806.00 EQ/Mid Cap Value PLUS N/A $ 1,508.00 $ 2,339.00 $ 4,641.00 - ----------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------- If you surrender or do not surrender your contract at the end of the applicable time period - ----------------------------------------------------------------------------------------------------- 1 year 3 years 5 years 10 years - ----------------------------------------------------------------------------------------------------- AXA PREMIER VIP TRUST: - ----------------------------------------------------------------------------------------------------- AXA Aggressive Allocation $ 415.00 $ 1,276.00 $ 2,181.00 $ 4,654.00 AXA Conservative Allocation $ 395.00 $ 1,217.00 $ 2,085.00 $ 4,475.00 AXA Conservative-Plus Allocation $ 400.00 $ 1,233.00 $ 2,111.00 $ 4,522.00 AXA Moderate Allocation $ 404.00 $ 1,245.00 $ 2,131.00 $ 4,560.00 AXA Moderate-Plus Allocation $ 409.00 $ 1,258.00 $ 2,151.00 $ 4,598.00 Multimanager Aggressive Equity $ 373.00 $ 1,152.00 $ 1,979.00 $ 4,272.00 Multimanager Core Bond $ 370.00 $ 1,143.00 $ 1,963.00 $ 4,242.00 Multimanager Health Care $ 440.00 $ 1,350.00 $ 2,301.00 $ 4,876.00 Multimanager High Yield $ 370.00 $ 1,143.00 $ 1,963.00 $ 4,242.00 Multimanager International Equity $ 419.00 $ 1,289.00 $ 2,201.00 $ 4,692.00 Multimanager Large Cap Core Equity $ 405.00 $ 1,248.00 $ 2,136.00 $ 4,570.00 Multimanager Large Cap Growth $ 408.00 $ 1,255.00 $ 2,146.00 $ 4,589.00 Multimanager Large Cap Value $ 402.00 $ 1,239.00 $ 2,121.00 $ 4,541.00 Multimanager Mid Cap Growth $ 427.00 $ 1,310.00 $ 2,237.00 $ 4,757.00 Multimanager Mid Cap Value $ 425.00 $ 1,307.00 $ 2,232.00 $ 4,748.00 Multimanager Small Cap Growth $ 429.00 $ 1,316.00 $ 2,247.00 $ 4,775.00 Multimanager Small Cap Value $ 417.00 $ 1,282.00 $ 2,191.00 $ 4,673.00 Multimanager Technology $ 440.00 $ 1,350.00 $ 2,301.00 $ 4,876.00 - ----------------------------------------------------------------------------------------------------- EQ ADVISORS TRUST: - ----------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock $ 353.00 $ 1,093.00 $ 1,881.00 $ 4,084.00 EQ/AllianceBernstein Intermediate Government Securities $ 356.00 $ 1,102.00 $ 1,896.00 $ 4,114.00 EQ/AllianceBernstein International $ 383.00 $ 1,183.00 $ 2,030.00 $ 4,369.00 EQ/AllianceBernstein Large Cap Growth $ 398.00 $ 1,227.00 $ 2,101.00 $ 4,503.00 EQ/AllianceBernstein Quality Bond $ 357.00 $ 1,105.00 $ 1,902.00 $ 4,124.00 EQ/AllianceBernstein Small Cap Growth $ 381.00 $ 1,177.00 $ 2,019.00 $ 4,350.00 EQ/AllianceBernstein Value $ 365.00 $ 1,127.00 $ 1,938.00 $ 4,193.00 EQ/Ariel Appreciation II $ 396.00 $ 1,221.00 $ 2,091.00 $ 4,484.00 EQ/AXA Rosenberg Value Long/Short Equity $ 638.00 $ 1,916.00 $ 3,199.00 $ 6,431.00 EQ/BlackRock Basic Value Equity $ 361.00 $ 1,118.00 $ 1,922.00 $ 4,164.00 EQ/BlackRock International Value $ 395.00 $ 1,217.00 $ 2,085.00 $ 4,475.00 EQ/Boston Advisors Equity Income $ 383.00 $ 1,183.00 $ 2,030.00 $ 4,369.00 EQ/Calvert Socially Responsible $ 382.00 $ 1,180.00 $ 2,024.00 $ 4,359.00 EQ/Capital Guardian Growth $ 374.00 $ 1,155.00 $ 1,984.00 $ 4,281.00 EQ/Capital Guardian Research $ 370.00 $ 1,143.00 $ 1,963.00 $ 4,242.00 EQ/Caywood-Scholl High Yield Bond $ 370.00 $ 1,143.00 $ 1,963.00 $ 4,242.00 EQ/Davis New York Venture $ 398.00 $ 1,227.00 $ 2,101.00 $ 4,503.00 EQ/Equity 500 Index $ 330.00 $ 1,024.00 $ 1,767.00 $ 3,862.00 EQ/Evergreen International Bond $ 381.00 $ 1,177.00 $ 2,019.00 $ 4,350.00 EQ/Evergreen Omega $ 384.00 $ 1,186.00 $ 2,035.00 $ 4,379.00 EQ/FI Mid Cap $ 375.00 $ 1,158.00 $ 1,989.00 $ 4,291.00 EQ/Franklin Income $ 400.00 $ 1,233.00 $ 2,111.00 $ 4,522.00 EQ/Franklin Small Cap Value $ 403.00 $ 1,242.00 $ 2,126.00 $ 4,551.00 EQ/Franklin Templeton Founding Strategy $ 429.00 $ 1,316.00 $ 2,247.00 $ 4,775.00 EQ/GAMCO Mergers and Acquisitions $ 404.00 $ 1,245.00 $ 2,131.00 $ 4,560.00 EQ/GAMCO Small Company Value $ 382.00 $ 1,180.00 $ 2,024.00 $ 4,359.00 EQ/International Core PLUS $ 389.00 $ 1,199.00 $ 2,055.00 $ 4,417.00 EQ/International Growth $ 408.00 $ 1,255.00 $ 2,146.00 $ 4,589.00 EQ/JPMorgan Core Bond $ 349.00 $ 1,080.00 $ 1,860.00 $ 4,044.00 EQ/JPMorgan Value Opportunities $ 368.00 $ 1,137.00 $ 1,953.00 $ 4,223.00 EQ/Large Cap Core PLUS $ 371.00 $ 1,146.00 $ 1,968.00 $ 4,252.00 EQ/Large Cap Growth PLUS $ 370.00 $ 1,143.00 $ 1,963.00 $ 4,242.00 EQ/Legg Mason Value Equity $ 376.00 $ 1,162.00 $ 1,994.00 $ 4,301.00 EQ/Long Term Bond $ 346.00 $ 1,071.00 $ 1,845.00 $ 4,014.00 EQ/Lord Abbett Growth and Income $ 375.00 $ 1,158.00 $ 1,989.00 $ 4,291.00 EQ/Lord Abbett Large Cap Core $ 380.00 $ 1,174.00 $ 2,014.00 $ 4,340.00 EQ/Lord Abbett Mid Cap Value $ 379.00 $ 1,171.00 $ 2,009.00 $ 4,330.00 EQ/Marsico Focus $ 393.00 $ 1,211.00 $ 2,075.00 $ 4,456.00 EQ/Mid Cap Value PLUS $ 375.00 $ 1,158.00 $ 1,989.00 $ 4,291.00 - -----------------------------------------------------------------------------------------------------
Fee table 15
- ----------------------------------------------------------------------------------------------------- If you annuitize at the end of the applicable time period - ----------------------------------------------------------------------------------------------------- 1 year 3 years 5 years 10 years - ----------------------------------------------------------------------------------------------------- EQ ADVISORS TRUST: - ----------------------------------------------------------------------------------------------------- EQ/Money Market N/A $ 1,396.00 $ 2,153.00 $ 4,283.00 EQ/Montag & Caldwell Growth N/A $ 1,536.00 $ 2,385.00 $ 4,729.00 EQ/Mutual Shares N/A $ 1,601.00 $ 2,491.00 $ 4,929.00 EQ/Oppenheimer Global N/A $ 1,712.00 $ 2,671.00 $ 5,263.00 EQ/Oppenheimer Main Street Opportunity N/A $ 1,663.00 $ 2,592.00 $ 5,116.00 EQ/Oppenheimer Main Street Small Cap N/A $ 1,688.00 $ 2,631.00 $ 5,190.00 EQ/PIMCO Real Return N/A $ 1,471.00 $ 2,277.00 $ 4,523.00 EQ/Short Duration Bond N/A $ 1,437.00 $ 2,221.00 $ 4,414.00 EQ/Small Company Index N/A $ 1,377.00 $ 2,122.00 $ 4,223.00 EQ/T. Rowe Price Growth Stock N/A $ 1,546.00 $ 2,400.00 $ 4,758.00 EQ/Templeton Growth N/A $ 1,614.00 $ 2,511.00 $ 4,967.00 EQ/UBS Growth and Income N/A $ 1,540.00 $ 2,390.00 $ 4,738.00 EQ/Van Kampen Comstock N/A $ 1,505.00 $ 2,334.00 $ 4,631.00 EQ/Van Kampen Emerging Markets Equity N/A $ 1,688.00 $ 2,631.00 $ 5,190.00 EQ/Van Kampen Mid Cap Growth N/A $ 1,521.00 $ 2,359.00 $ 4,680.00 EQ/Van Kampen Real Estate N/A $ 1,601.00 $ 2,491.00 $ 4,929.00 - ----------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------- If you surrender or do not surrender your contract at the end of the applicable time period - ----------------------------------------------------------------------------------------------------- 1 year 3 years 5 years 10 years - ----------------------------------------------------------------------------------------------------- EQ ADVISORS TRUST: - ----------------------------------------------------------------------------------------------------- EQ/Money Market $ 337.00 $ 1,046.00 $ 1,803.00 $ 3,933.00 EQ/Montag & Caldwell Growth $ 384.00 $ 1,186.00 $ 2,035.00 $ 4,379.00 EQ/Mutual Shares $ 407.00 $ 1,251.00 $ 2,141.00 $ 4,579.00 EQ/Oppenheimer Global $ 444.00 $ 1,362.00 $ 2,321.00 $ 4,913.00 EQ/Oppenheimer Main Street Opportunity $ 428.00 $ 1,313.00 $ 2,242.00 $ 4,766.00 EQ/Oppenheimer Main Street Small Cap $ 436.00 $ 1,338.00 $ 2,281.00 $ 4,840.00 EQ/PIMCO Real Return $ 362.00 $ 1,121.00 $ 1,927.00 $ 4,173.00 EQ/Short Duration Bond $ 351.00 $ 1,087.00 $ 1,871.00 $ 4,064.00 EQ/Small Company Index $ 331.00 $ 1,027.00 $ 1,772.00 $ 3,873.00 EQ/T. Rowe Price Growth Stock $ 388.00 $ 1,196.00 $ 2,050.00 $ 4,408.00 EQ/Templeton Growth $ 411.00 $ 1,264.00 $ 2,161.00 $ 4,617.00 EQ/UBS Growth and Income $ 386.00 $ 1,190.00 $ 2,040.00 $ 4,388.00 EQ/Van Kampen Comstock $ 374.00 $ 1,155.00 $ 1,984.00 $ 4,281.00 EQ/Van Kampen Emerging Markets Equity $ 436.00 $ 1,338.00 $ 2,281.00 $ 4,840.00 EQ/Van Kampen Mid Cap Growth $ 379.00 $ 1,171.00 $ 2,009.00 $ 4,330.00 EQ/Van Kampen Real Estate $ 407.00 $ 1,251.00 $ 2,141.00 $ 4,579.00 - -----------------------------------------------------------------------------------------------------
* The EQ/Ariel Appreciation II variable investment option is not available for TSA contracts. For information on how your contract works under certain hypothetical circumstances, please see Appendix III at the end of this prospectus. CONDENSED FINANCIAL INFORMATION Please see Appendix I at the end of this prospectus for the unit values and number of units outstanding as of the periods shown for each of the variable investment options, available as of December 31, 2007. 16 Fee table 1. Contract features and benefits - -------------------------------------------------------------------------------- HOW YOU CAN PURCHASE AND CONTRIBUTE TO YOUR CONTRACT You may purchase a contract by making payments to us that we call "contributions." Your initial contribution must be from the transfer of the cash value of an EQUI-VEST(SM) traditional IRA, Roth IRA, NQ, TSA or the same IRA and NQ contract types offered in an EQUI-VEST(SM) Express(SM) contract that you currently own under which withdrawal charges no longer apply. The contract that you purchase must be the same type of contract (for example, an NQ contract to an NQ contract; or a Roth IRA contract to a Roth IRA contract), except for a SEP, SARSEP or SIMPLE IRA for which an IRA contract will be purchased. We also intend to offer direct rollovers to IRAs for TSA contracts in 2008. We require a minimum initial contribution of $50,000 for you to purchase a contract. Any additional contributions must also be a transfer of the total cash value of an EQUI-VEST(SM) traditional IRA, Roth IRA, NQ, TSA or the same IRA and NQ contract types offered in an EQUI-VEST(SM) Express(SM) contract that you own to a contract of the same type (under which withdrawal charges no longer apply). Additional contributions can be transferred from existing contracts until the annuitant attains age 86. No other contributions are permitted. The following table summarizes our rules regarding contributions to your contract. All ages in the table refer to the age of the annuitant named in the contract. In order to purchase an EQUI-VEST(SM) At Retirement(SM) contract, you must select at least one of the optional benefits available under EQUI-VEST(SM) At Retirement(SM). However, the standard death benefit can only be elected if GMIB is elected. - -------------------------------------------------------------------------------- The "annuitant" is the person who is the measuring life for determining contract benefits. Under NQ contracts, the annuitant is not necessarily the contract owner. - --------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------------- Contract Available for type annuitant ages Source of contributions - ---------------------------------------------------------------------------------------------------------------------------------- NQ* 55 through 75* Transfer from an existing EQUI-VEST(SM) or EQUI-VEST(SM) Express(SM) NQ contract - ---------------------------------------------------------------------------------------------------------------------------------- IRA 55 through 75 Transfer from an existing EQUI-VEST(SM) or EQUI-VEST(SM) Express(SM) IRA (including QP IRA) or SEP, SARSEP or SIMPLE IRA contract - ---------------------------------------------------------------------------------------------------------------------------------- Roth IRA 55 through 75 Transfer from an existing EQUI-VEST(SM) or EQUI-VEST(SM) Express(SM) Roth IRA contract - ---------------------------------------------------------------------------------------------------------------------------------- TSA** 55 through 75 Transfer from an existing EQUI-VEST(SM) TSA contract (employer or plan approval required; contract must continue to be part of a 403(b) plan.) - ----------------------------------------------------------------------------------------------------------------------------------
* If there are more than 2 owners on the existing EQUI-VEST(SM) contract, a change of owner form must be completed so that there are only 2 owners before the transfer to an EQUI- VEST(SM) At Retirement(SM) contract is requested. Joint owners are available for NQ contracts only. ** The following applies only to TSA contracts: EQUI-VEST(SM) At Retirement(SM) is not available if you have made designated Roth contributions to your original EQUI-VEST(SM) contract. Also, due to federal tax law changes, we intend to amend our procedures to permit funds from an EQUI-VEST(SM) TSA contract which would qualify to be transferred to an EQUI-VEST(SM) At Retirement(SM) TSA (or which were transferred to EQUI-VEST(SM) At Retirement(SM) TSA), to be directly rolled over to an EQUI-VEST(SM) At Retirement(SM) IRA instead. This would apply in situations where the EQUI-VEST(SM) At Retirement(SM) TSA would not continue to be part of a 403(b) plan. See the discussion under "Tax information" later in this prospectus. For information on when contributions are credited under your contract see "Dates and prices at which contract events occur" in "More information" later in this prospectus. Contract features and benefits 17 OWNER AND ANNUITANT REQUIREMENTS Under all IRA and TSA contracts, the owner and annuitant must be the same individual. Under NQ contracts, the annuitant can be different from the owner. We do not permit partnerships or limited liability corporations to be owners. We also reserve the right to prohibit the availability of this contract to other non-natural owners. For NQ contracts, we limit ownership to two joint owners. Only natural persons can be joint owners. For the Spousal protection feature to apply, the spouses must be joint owners. If your EQUI-VEST(SM) NQ contract has a spousal joint owner, upon transfer to the EQUI-VEST(SM) At Retirement(SM) contract such joint owner will automatically become the joint owner under the EQUI-VEST(SM) At Retirement(SM) contract. The determination of spousal status is made under applicable state law; however, in the event of a conflict between federal and state law, we follow federal rules. HOW YOU CAN MAKE YOUR CONTRIBUTIONS Except as indicated for TSA contracts below, contributions to your EQUI-VEST(SM) at Retirement(SM) contract can only be made through a direct transfer from an EQUI-VEST(SM) or EQUI-VEST(SM) Express(SM) contract that you own to the same type of contract. That is, a traditional IRA must be transferred to a traditional IRA; a Roth IRA must be transferred to a Roth IRA; an NQ contract must be exchanged for another NQ contract with the same owner(s) and annuitant. In the case of a SEP, SARSEP or SIMPLE IRA, a traditional IRA will be purchased. The following applies only to TSA contracts: EQUI-VEST(SM) At Retirement(SM) is not available if you have made designated Roth contributions to your original EQUI-VEST(SM) contract. A direct TSA to TSA contract transfer (whether a contract exchange under the same 403(b) plan or a 403(b) plan to another 403(b) plan direct transfer) may still be made from an EQUI-VEST(SM) TSA contract, but only with employer or plan approval and only if the contract continues to be part of a 403(b) plan. Also, due to federal tax law changes, we intend to amend our procedures to permit funds from an EQUI-VEST(SM) TSA contract which would qualify to be transferred to an EQUI-VEST(SM) At Retirement(SM) TSA (or which were transferred to EQUI-VEST(SM) At Retirement(SM) TSA), to be directly rolled over to an EQUI-VEST(SM) At Retirement(SM) IRA instead. This would apply in situations where the EQUI-VEST(SM) At Retirement(SM) TSA would not continue to be part of a 403(b) plan. See the discussion under "Tax information" later in this prospectus. WHAT ARE YOUR INVESTMENT OPTIONS UNDER THE CONTRACT? You can choose from among the variable investment options, the guaranteed interest option and the fixed maturity options. Certain investment options may not be available in all states. See Appendix V later in this prospectus for state variations. VARIABLE INVESTMENT OPTIONS Your investment results in any one of the variable investment options will depend on the investment performance of the underlying portfolios. You can lose your principal when investing in the variable investment options. In periods of poor market performance, the net return, after charges and expenses, may result in negative yields, including for the EQ/Money Market variable investment option. Listed below are the currently available portfolios, their investment objectives and their advisers. 18 Contract features and benefits PORTFOLIOS OF THE TRUSTS The AXA Allocation Portfolios and the EQ/Franklin Templeton Founding Strategy Portfolio offer contract owners a convenient opportunity to invest in other portfolios that are managed and have been selected for inclusion in the AXA Allocation Portfolios and the EQ/Franklin Templeton Founding Strategy Portfolio by AXA Equitable. AXA Advisors, LLC, an affiliated broker-dealer of AXA Equitable, may promote the benefits of such portfolios to contract owners and/or suggest, incidental to the sale of this contract, that contract owners consider whether allocating some or all of their account value to such portfolios is consistent with their desired investment objectives. In doing so, AXA Equitable, and/or its affiliates, may be subject to conflicts of interest insofar as AXA Equitable may derive greater revenues from the AXA Allocation Portfolios and the EQ/Franklin Templeton Founding Strategy Portfolio than certain other portfolios available to you under your contract. In addition, due to the relative diversification of the underlying portfolios covering various asset classes and categories, the AXA Allocation Portfolios and the EQ/Franklin Templeton Founding Strategy Portfolio may enable AXA Equitable to more efficiently manage AXA Equitable's financial risks associated with certain guaranteed features including those optional benefits that restrict allocations to the AXA Allocation Portfolios and the EQ/Franklin Templeton Founding Strategy Portfolio. Please see "Allocating your contributions" later in this section for more information about your role in managing your allocations. AXA Equitable serves as the investment manager of the portfolios of AXA Premier VIP Trust and EQ Advisors Trust. For some portfolios, AXA Equitable has entered into sub-advisory agreements with investment advisers (the "sub-advisers") to carry out the day-to-day investment decisions for the portfolios. As such, AXA Equitable oversees the activities of the sub-advisers with respect to the Trusts and is responsible for retaining or discontinuing the services of those sub-advisers. The chart below indicates the objective and investment manager or sub-adviser(s), as applicable, for each portfolio.
- ---------------------------------------------------------------------------------------------------------------------------------- AXA Premier VIP Trust Investment Manager (or Sub-Adviser(s), as Portfolio Name Objective applicable) - ---------------------------------------------------------------------------------------------------------------------------------- AXA AGGRESSIVE ALLOCATION Seeks long-term capital appreciation. o AXA Equitable - ---------------------------------------------------------------------------------------------------------------------------------- AXA CONSERVATIVE ALLOCATION Seeks a high level of current income. o AXA Equitable - ---------------------------------------------------------------------------------------------------------------------------------- AXA CONSERVATIVE-PLUS Seeks current income and growth of capital, with a o AXA Equitable ALLOCATION greater emphasis on current income. - ---------------------------------------------------------------------------------------------------------------------------------- - ---------------------------------------------------------------------------------------------------------------------------------- AXA MODERATE-PLUS Seeks long-term capital appreciation and current income, o AXA Equitable ALLOCATION with a greater emphasis on capital appreciation. - ---------------------------------------------------------------------------------------------------------------------------------- MULTIMANAGER AGGRESSIVE Long-term growth of capital. o AllianceBernstein L.P. EQUITY o ClearBridge Advisors, LLC o Legg Mason Capital Management, Inc. o Marsico Capital Management, LLC - ---------------------------------------------------------------------------------------------------------------------------------- MULTIMANAGER CORE BOND To seek a balance of high current income and capital o BlackRock Financial Management, Inc. appreciation, consistent with a prudent level of risk. o Pacific Investment Management Company LLC - ---------------------------------------------------------------------------------------------------------------------------------- MULTIMANAGER HEALTH CARE Long-term growth of capital. o Invesco Aim Capital Management, Inc. o RCM Capital Management LLC o Wellington Management Company, LLP - ---------------------------------------------------------------------------------------------------------------------------------- MULTIMANAGER HIGH YIELD High total return through a combination of current o Pacific Investment Management Company income and capital appreciation. LLC o Post Advisory Group, LLC - ---------------------------------------------------------------------------------------------------------------------------------- MULTIMANAGER INTERNATIONAL Long-term growth of capital. o AllianceBernstein L.P. EQUITY o JPMorgan Investment Management Inc. o Marsico Capital Management, LLC - ----------------------------------------------------------------------------------------------------------------------------------
Contract features and benefits 19
- ---------------------------------------------------------------------------------------------------------------------------------- AXA Premier VIP Trust Investment Manager (or Sub-Adviser(s), as Portfolio Name Objective applicable) - ---------------------------------------------------------------------------------------------------------------------------------- MULTIMANAGER LARGE CAP Long-term growth of capital. o AllianceBernstein L.P. CORE EQUITY o Janus Capital Management LLC o Thornburg Investment Management, Inc. - ---------------------------------------------------------------------------------------------------------------------------------- MULTIMANAGER LARGE CAP Long-term growth of capital. o RCM Capital Management LLC GROWTH o TCW Investment Management Company o T. Rowe Price Associates, Inc. - ---------------------------------------------------------------------------------------------------------------------------------- MULTIMANAGER LARGE CAP Long-term growth of capital. o AllianceBernstein L.P. VALUE o Institutional Capital LLC o MFS Investment Management - ---------------------------------------------------------------------------------------------------------------------------------- MULTIMANAGER MID CAP Long-term growth of capital. o AllianceBernstein L.P. GROWTH o Franklin Advisers, Inc. o Provident Investment Counsel, Inc. - ---------------------------------------------------------------------------------------------------------------------------------- MULTIMANAGER MID CAP VALUE Long-term growth of capital. o AXA Rosenberg Investment Management LLC o TCW Investment Management Company o Wellington Management Company, LLP - ---------------------------------------------------------------------------------------------------------------------------------- MULTIMANAGER SMALL CAP Long-term growth of capital. o Eagle Asset Management, Inc. GROWTH o Wells Capital Management Inc. - ---------------------------------------------------------------------------------------------------------------------------------- MULTIMANAGER SMALL CAP Long-term growth of capital. o Franklin Advisory Services, LLC VALUE o Lazard Asset Management LLC - ---------------------------------------------------------------------------------------------------------------------------------- MULTIMANAGER TECHNOLOGY Long-term growth of capital. o Firsthand Capital Management, Inc. o RCM Capital Management LLC o Wellington Management Company, LLP - ---------------------------------------------------------------------------------------------------------------------------------- EQ Advisors Trust Investment Manager (or Sub-Adviser(s), as Portfolio Name Objective applicable) - ---------------------------------------------------------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN COM- Seeks to achieve long-term growth of capital. o AllianceBernstein L.P. MON STOCK - ---------------------------------------------------------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN INTER- Seeks to achieve high current income consistent with o AllianceBernstein L.P. MEDIATE GOVERNMENT relative stability of principal. SECURITIES - ---------------------------------------------------------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN INTER- Seeks to achieve long-term growth of capital. o AllianceBernstein L.P. NATIONAL - ---------------------------------------------------------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN LARGE Seeks to achieve long-term growth of capital. o AllianceBernstein L.P. CAP GROWTH - ---------------------------------------------------------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN QUALITY Seeks to achieve high current income consistent with o AllianceBernstein L.P. BOND moderate risk to capital. - ---------------------------------------------------------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN SMALL Seeks to achieve long-term growth of capital. o AllianceBernstein L.P. CAP GROWTH - ---------------------------------------------------------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN VALUE Seeks to achieve capital appreciation. o AllianceBernstein L.P. - ---------------------------------------------------------------------------------------------------------------------------------- EQ/ARIEL APPRECIATION II Seeks to achieve long-term capital appreciation. o Ariel Capital Management, LLC - ----------------------------------------------------------------------------------------------------------------------------------
20 Contract features and benefits
- ---------------------------------------------------------------------------------------------------------------------------------- EQ Advisors Trust Investment Manager (or Sub-Adviser(s), as Portfolio Name Objective applicable) - ---------------------------------------------------------------------------------------------------------------------------------- EQ/AXA ROSENBERG VALUE Seeks to increase value through bull markets and bear o AXA Rosenberg Investment Management LLC LONG/SHORT EQUITY markets using strategies that are designed to limit exposure to general equity market risk. - ---------------------------------------------------------------------------------------------------------------------------------- EQ/BLACKROCK BASIC VALUE Seeks to achieve capital appreciation and secondarily, o BlackRock Investment Management, LLC EQUITY income. - ---------------------------------------------------------------------------------------------------------------------------------- EQ/BLACKROCK INTERNATIONAL Seeks to provide current income and long-term growth o BlackRock Investment Management VALUE of income, accompanied by growth of capital. International Limited - ---------------------------------------------------------------------------------------------------------------------------------- EQ/BOSTON ADVISORS EQUITY Seeks to achieve a combination of growth and income to o Boston Advisors, LLC INCOME achieve an above-average and consistent total return. - ---------------------------------------------------------------------------------------------------------------------------------- EQ/CALVERT SOCIALLY Seeks to achieve long-term capital appreciation. o Calvert Asset Management Company, Inc. RESPONSIBLE o Bridgeway Capital Management, Inc. - ---------------------------------------------------------------------------------------------------------------------------------- EQ/CAPITAL GUARDIAN GROWTH Seeks to achieve long-term growth of capital. o Capital Guardian Trust Company - ---------------------------------------------------------------------------------------------------------------------------------- EQ/CAPITAL GUARDIAN Seeks to achieve long-term growth of capital. o Capital Guardian Trust Company RESEARCH - ---------------------------------------------------------------------------------------------------------------------------------- EQ/CAYWOOD-SCHOLL HIGH Seeks to maximize current income. o Caywood-Scholl Capital Management YIELD BOND - ---------------------------------------------------------------------------------------------------------------------------------- EQ/DAVIS NEW YORK VENTURE Seeks to achieve long-term growth of capital. o Davis Selected Advisers, L.P. - ---------------------------------------------------------------------------------------------------------------------------------- EQ/EQUITY 500 INDEX Seeks to achieve a total return before expenses that o AllianceBernstein L.P. approximates the total return performance of the S&P 500 Index, including reinvestment of dividends, at a risk level consistent with that of the S&P 500 Index. - ---------------------------------------------------------------------------------------------------------------------------------- EQ/EVERGREEN INTERNATIONAL Seeks to achieve capital growth and current income. o Evergreen Investment Management BOND Company, LLC o First International Advisors, LLC (dba "Evergreen International") - ---------------------------------------------------------------------------------------------------------------------------------- EQ/EVERGREEN OMEGA Seeks to achieve long-term capital growth. o Evergreen Investment Management Company, LLC - ---------------------------------------------------------------------------------------------------------------------------------- EQ/FI MID CAP Seeks to achieve long-term growth of capital. o Fidelity Management & Research Company - ---------------------------------------------------------------------------------------------------------------------------------- EQ/FRANKLIN INCOME Seeks to maximize income while maintaining prospects o Franklin Advisers, Inc. for capital appreciation. - ---------------------------------------------------------------------------------------------------------------------------------- EQ/FRANKLIN SMALL CAP VALUE Seeks to achieve long-term total return. o Franklin Advisory Services, LLC - ---------------------------------------------------------------------------------------------------------------------------------- EQ/FRANKLIN TEMPLETON Primarily seeks capital appreciation and secondarily o AXA Equitable FOUNDING STRATEGY seeks income. - ---------------------------------------------------------------------------------------------------------------------------------- EQ/GAMCO MERGERS AND Seeks to achieve capital appreciation. o GAMCO Asset Management Inc. ACQUISITIONS - ---------------------------------------------------------------------------------------------------------------------------------- EQ/GAMCO SMALL COMPANY Seeks to maximize capital appreciation. o GAMCO Asset Management Inc. VALUE - ---------------------------------------------------------------------------------------------------------------------------------- EQ/INTERNATIONAL CORE PLUS Seeks to achieve long-term growth of capital. o AXA Equitable o Mellon Capital Management Corporation o Wentworth Hauser and Violich, Inc. - ---------------------------------------------------------------------------------------------------------------------------------- EQ/INTERNATIONAL GROWTH Seeks to achieve capital appreciation. o MFS Investment Management, Inc. - ----------------------------------------------------------------------------------------------------------------------------------
Contract features and benefits 21
- ---------------------------------------------------------------------------------------------------------------------------------- EQ Advisors Trust Investment Manager (or Sub-Adviser(s), as Portfolio Name Objective applicable) - ---------------------------------------------------------------------------------------------------------------------------------- EQ/JPMORGAN CORE BOND Seeks to provide a high total return consistent with o JPMorgan Investment Management Inc. mod erate risk to capital and maintenance of liquidity. - ---------------------------------------------------------------------------------------------------------------------------------- EQ/JPMORGAN VALUE Seeks to achieve long-term capital appreciation. o JPMorgan Investment Management Inc. OPPORTUNITIES - ---------------------------------------------------------------------------------------------------------------------------------- EQ/LARGE CAP CORE PLUS Seeks to achieve long-term growth of capital with a o AXA Equitable secondary objective to seek reasonable current income. For purposes of this Portfolio, the words o Institutional Capital LLC "reasonable current income" mean moderate income. o Mellon Capital Management Corporation - ---------------------------------------------------------------------------------------------------------------------------------- EQ/LARGE CAP GROWTH PLUS Seeks to provide long-term capital growth o AXA Equitable o Marsico Capital Management, LLC o Mellon Capital Management Corporation - ---------------------------------------------------------------------------------------------------------------------------------- EQ/LEGG MASON VALUE EQUITY Seeks to achieve long-term growth of capital. o Legg Mason Capital Management, Inc. - ---------------------------------------------------------------------------------------------------------------------------------- EQ/LONG TERM BOND Seeks to maximize income and capital appreciation o BlackRock Financial Management, Inc. through investment in long-maturity debt obligations. - ---------------------------------------------------------------------------------------------------------------------------------- EQ/LORD ABBETT GROWTH AND Seeks to achieve capital appreciation and growth of o Lord, Abbett & Co. LLC INCOME income without excessive fluctuation in market value. - ---------------------------------------------------------------------------------------------------------------------------------- EQ/LORD ABBETT LARGE CAP Seeks to achieve capital appreciation and growth of o Lord, Abbett & Co. LLC CORE income with reasonable risk. - ---------------------------------------------------------------------------------------------------------------------------------- EQ/LORD ABBETT MID CAP VALUE Seeks to achieve capital appreciation. o Lord, Abbett & Co. LLC - ---------------------------------------------------------------------------------------------------------------------------------- EQ/MARSICO FOCUS Seeks to achieve long-term growth of capital. o Marsico Capital Management, LLC - ---------------------------------------------------------------------------------------------------------------------------------- EQ/MID CAP VALUE PLUS Seeks to achieve long-term capital appreciation. o AXA Equitable o Mellon Capital Management Corporation o Wellington Management Company LLP - ---------------------------------------------------------------------------------------------------------------------------------- EQ/MONEY MARKET Seeks to obtain a high level of current income, o The Dreyfus Corporation preserve its assets and maintain liquidity. - ---------------------------------------------------------------------------------------------------------------------------------- EQ/MONTAG & CALDWELL Seeks to achieve capital appreciation. o Montag & Caldwell, Inc. GROWTH - ---------------------------------------------------------------------------------------------------------------------------------- EQ/MUTUAL SHARES Seeks to achieve capital appreciation, which may o Franklin Mutual Advisers, LLC occa sionally be short-term, and secondarily, income. - ---------------------------------------------------------------------------------------------------------------------------------- EQ/OPPENHEIMER GLOBAL Seeks to achieve capital appreciation. o OppenheimerFunds, Inc. - ---------------------------------------------------------------------------------------------------------------------------------- EQ/OPPENHEIMER MAIN STREET Seeks to achieve long-term capital appreciation. o OppenheimerFunds, Inc. OPPORTUNITY - ---------------------------------------------------------------------------------------------------------------------------------- EQ/OPPENHEIMER MAIN STREET Seeks to achieve capital appreciation. o OppenheimerFunds, Inc. SMALL CAP - ---------------------------------------------------------------------------------------------------------------------------------- EQ/PIMCO REAL RETURN Seeks to achieve maximum real return consistent with o Pacific Investment Management Company, preservation of real capital and prudent investment LLC man agement. - ---------------------------------------------------------------------------------------------------------------------------------- EQ/SHORT DURATION BOND Seeks to achieve current income with reduced o BlackRock Financial Management, Inc. volatility of principal. - ---------------------------------------------------------------------------------------------------------------------------------- EQ/SMALL COMPANY INDEX Seeks to replicate as closely as possible (before o AllianceBernstein L.P. the deduction of Portfolio expenses) the total return of the Russell 2000 Index. - ----------------------------------------------------------------------------------------------------------------------------------
22 Contract features and benefits
- ---------------------------------------------------------------------------------------------------------------------------------- EQ Advisors Trust Investment Manager (or Sub-Adviser(s), as Portfolio Name Objective applicable) - ---------------------------------------------------------------------------------------------------------------------------------- EQ/T. ROWE PRICE GROWTH Seeks to achieve long-term capital appreciation and o T. Rowe Price Associates, Inc. STOCK secondarily, income. - ---------------------------------------------------------------------------------------------------------------------------------- EQ/TEMPLETON GROWTH Seeks to achieve long-term capital growth. o Templeton Global Advisors Limited - ---------------------------------------------------------------------------------------------------------------------------------- EQ/UBS GROWTH AND INCOME Seeks to achieve total return through capital o UBS Global Asset Management appreciation with income as a secondary consideration. (Americas) Inc. - ---------------------------------------------------------------------------------------------------------------------------------- EQ/VAN KAMPEN COMSTOCK Seeks to achieve capital growth and income. o Morgan Stanley Investment Management Inc. - ---------------------------------------------------------------------------------------------------------------------------------- EQ/VAN KAMPEN EMERGING Seeks to achieve long-term capital appreciation. o Morgan Stanley Investment Management Inc. MARKETS EQUITY - ---------------------------------------------------------------------------------------------------------------------------------- EQ/VAN KAMPEN MID CAP Seeks to achieve capital growth. o Morgan Stanley Investment Management Inc. GROWTH - ---------------------------------------------------------------------------------------------------------------------------------- EQ/VAN KAMPEN REAL ESTATE Seeks to provide above average current income and o Morgan Stanley Investment Management Inc. long-term capital appreciation. - ----------------------------------------------------------------------------------------------------------------------------------
You should consider the investment objectives, risks and charges and expenses of the portfolios carefully before investing. The prospectuses for the Trusts contain this and other important information about the portfolios. The prospectuses should be read carefully before investing. Contract features and benefits 23 GUARANTEED INTEREST OPTION The guaranteed interest option is part of our general account and pays interest at guaranteed rates. We discuss our general account under "More information" later in this prospectus. We assign an interest rate each month to amounts allocated to the guaranteed interest option. We credit interest daily to amounts in the guaranteed interest option. There are three levels of interest in effect at the same time in the guaranteed interest option: (1) the minimum interest rate guaranteed over the life of the contract, (2) the yearly guaranteed interest rate for the calendar year, and (3) the current interest rate. We set current interest rates periodically, according to our procedures that we have in effect at the time. We reserve the right to change these procedures. All interest rates are effective annual rates, but do not reflect the deduction of any optional benefit charges. See Appendix V later in this prospectus for state variations. Depending on the state where your contract is issued, your lifetime minimum rate ranges from 1.00% to 3.00%. The data page for your contract shows the lifetime minimum rate. Check with your financial professional as to which rate applies in your state. The minimum yearly rate will never be less than the lifetime minimum rate. Generally, the minimum yearly rate for 2008 is 2.75%. Current interest rates will never be less than the yearly guaranteed interest rate. Generally, contributions and transfers into and out of the guaranteed interest option are limited. See "Transferring your money among the investment options" later in this prospectus for restrictions on transfers to and from the guaranteed interest option. FIXED MATURITY OPTIONS We offer fixed maturity options with maturity dates generally ranging from one to ten years. We will not accept allocations to a fixed maturity option if on the date the contribution or transfer is to be applied the rate to maturity is 3%. This means that at points in time there may be no fixed maturity options available. You can allocate your contributions to one or more of these fixed maturity options. However, you may not allocate more than one contribution to any one fixed maturity option. These amounts become part of a non-unitized separate account. They will accumulate interest at the "rate to maturity" for each fixed maturity option. The total amount you allocate to and accumulate in each fixed maturity option is called the "fixed maturity amount." - -------------------------------------------------------------------------------- Fixed maturity options generally range from one to ten years to maturity. - -------------------------------------------------------------------------------- The rate to maturity you will receive for each fixed maturity option is the rate to maturity in effect for new contributions allocated to that fixed maturity option on the date we apply your contribution. On the maturity date of a fixed maturity option, your fixed maturity amount, assuming you have not made any withdrawals or transfers, will equal your contribution to that fixed maturity option plus interest, at the rate to maturity for that contribution. This is the fixed maturity option's "maturity value." Before maturity, the current value we will report for your fixed maturity amount will reflect a market value adjustment. Your current value will reflect the market value adjustment that we would make if you were to withdraw all of your fixed maturity amounts on the date of the report. We call this your "market adjusted amount." FIXED MATURITY OPTIONS AND MATURITY DATES. We currently offer fixed maturity options ending on June 15 for maturity years ranging from one through ten. Not all of these fixed maturity options will be available for annuitant ages 76 and above. See "Allocating your contributions" below. As fixed maturity options expire, we expect to add maturity years so that generally 10 fixed maturity options are available at any time. We will not accept allocations to a fixed maturity option if on the date the contribution or transfer is to be applied: o you previously allocated a contribution or made a transfer to the same fixed maturity option; or o the rate to maturity is 3%; or o the fixed maturity option's maturity date is within 45 days; or o the fixed maturity option's maturity date is later than the date annuity payments are to begin. YOUR CHOICES AT THE MATURITY DATE. We will notify you at least 45 days before each of your fixed maturity options is scheduled to mature. At that time, you may choose to have one of the following take place on the maturity date, as long as none of the conditions listed above or in "Allocating your contributions," below would apply: (a) transfer the maturity value into another available fixed maturity option, or into any of the variable investment options; or (b) withdraw the maturity value. If we do not receive your choice on or before the fixed maturity option's maturity date, we will automatically transfer your maturity value into the next available fixed maturity option (or another investment option if we are required to do so by any state regulation). As of February 15, 2008, the next available maturity date was June 15, 2013 (see "About our fixed maturity options" in "More Information," later in this prospectus). We may change our procedures in the future. MARKET VALUE ADJUSTMENT. If you make any withdrawals (including transfers, surrender or termination of your contract, or when we make deductions for charges) from a fixed maturity option before it matures we will make a market value adjustment, which will increase or decrease any fixed maturity amount you have in that fixed maturity option. A market value adjustment will also apply if amounts in a fixed maturity option are used to purchase any annuity payment option prior to the maturity date and may apply on payment of a death benefit. The market value adjustment, positive or negative, resulting from a withdrawal or transfer (including a deduction for charges) of a portion of the amount in the fixed maturity option will be a percentage of the market value adjustment that would apply if you were to withdraw the entire amount in that fixed maturity option. The market value adjustment applies to the amount remaining in a fixed maturity option and does not reduce the actual amount of a withdrawal. The amount 24 Contract features and benefits applied to an annuity payout option will reflect the application of any applicable market value adjustment (either positive or negative). We only apply a positive market value adjustment to the amount in the fixed maturity option when calculating any death benefit proceeds under your contract. The amount of the adjustment will depend on two factors: (a) the difference between the rate to maturity that applies to the amount being withdrawn and the rate to maturity in effect at that time for new allocations to that same fixed maturity option, and (b) the length of time remaining until the maturity date. In general, if interest rates rise from the time that you originally allocate an amount to a fixed maturity option to the time that you take a withdrawal, the market value adjustment will be negative. Likewise, if interest rates drop at the end of that time, the market value adjustment will be positive. Also, the amount of the market value adjustment, either up or down, will be greater the longer the time remaining until the fixed maturity option's maturity date. Therefore, it is possible that the market value adjustment could greatly reduce your value in the fixed maturity options, particularly in the fixed maturity options with later maturity dates. We provide an illustration of the market adjusted amount of specified maturity values, an explanation of how we calculate the market value adjustment, and information concerning our general account and investments purchased with amounts allocated to the fixed maturity options, in "More information" later in this prospectus. Appendix I at the end of this prospectus provides an example of how the market value adjustment is calculated. ALLOCATING YOUR CONTRIBUTIONS You may allocate your contributions to one or more, or all, of the variable investment options, guaranteed interest option and fixed maturity options (subject to availability in certain states--see Appendix IV later in this prospectus for state variations). Allocations must be in whole percentages and you may change your allocations at any time. No more than 25% of any contribution may be allocated to the guaranteed interest option. The total of your allocations into all available investment options must equal 100%. If the annuitant is age 76 or older, you may allocate contributions to fixed maturity options with maturities of five years or less. Only one amount may be allocated to any one fixed maturity option. Also, you may not allocate amounts to fixed maturity options with maturity dates that are later than the date annuity payments are to begin. The contract is between you and AXA Equitable. The contract is not an investment advisory account, and AXA Equitable is not providing any investment advice or managing the allocations under your contract. In the absence of a specific written arrangement to the contrary, you, as the owner of the contract, have the sole authority to make investment allocations and other decisions under the contract. Your AXA Advisors' financial professional is acting as a broker-dealer registered representative, and is not authorized to act as an investment advisor or to manage the allocations under your contract. If your financial professional is a registered representative with a broker-dealer other than AXA Advisors, you should speak with him/her regarding any different arrangements that may apply. GUARANTEED MINIMUM DEATH BENEFIT AND GUARANTEED MINIMUM INCOME BENEFIT BASE The standard death benefit can only be elected with GMIB. Any of the enhanced death benefits can be elected by themselves or with GMIB. The Guaranteed minimum death benefit base and Guaranteed minimum income benefit base (hereinafter, in this section called your "benefit base") are used to calculate the Guaranteed minimum income benefit and the death benefits as described in this section. Your benefit base is not an account value or a cash value. See also "Guaranteed minimum income benefit option" and "Guaranteed minimum death benefit" below. STANDARD DEATH BENEFIT. Your benefit base is equal to: o your initial contribution and any subsequent contributions to the contract; less o a deduction that reflects any withdrawals you make. The amount of the deduction is described under "How withdrawals affect your Guaranteed minimum income benefit and Guaranteed minimum death benefit" in "Accessing your money" later in this prospectus. 6% ROLL-UP TO AGE 85 (USED FOR THE GREATER OF THE 6% ROLL-UP TO AGE 85 OR THE ANNUAL RATCHET TO AGE 85 ENHANCED DEATH BENEFIT AND FOR THE GUARANTEED MINIMUM INCOME BENEFIT). Your benefit base is equal to: o your initial contribution and any subsequent contributions to the contract; plus o daily roll-up; less o a deduction that reflects any withdrawals you make. The amount of the deduction is described under "How withdrawals affect your Guaranteed minimum income benefit and Guaranteed minimum death benefit" in "Accessing your money" and the section entitled "Charges and expenses" later in this prospectus. The effective annual roll-up rate credited to this benefit base is: o 6% with respect to the variable investment options (other than EQ/AllianceBernstein Intermediate Government Securities, EQ/Money Market, and EQ/Short Duration Bond); and o 3% with respect to the EQ/AllianceBernstein Intermediate Government Securities, EQ/Money Market, and EQ/Short Duration Bond, the fixed maturity options, the guaranteed interest option and the loan reserve account under TSA (if applicable). The benefit base stops rolling up after the contract anniversary following the annuitant's 85th birthday. As noted above, the effective annual roll-up rate is either 3% or 6%, depending on the investment option(s) selected. You should consider the difference in the roll-up rate when you select investment option(s) and investment programs, such as dollar cost averaging. Contract features and benefits 25 ANNUAL RATCHET TO AGE 85 (USED FOR THE ANNUAL RATCHET TO AGE 85 ENHANCED DEATH BENEFIT, AND THE GREATER OF THE 6% ROLL-UP TO AGE 85 OR THE ANNUAL RATCHET TO AGE 85 ENHANCED DEATH BENEFIT AND FOR THE GUARANTEED MINIMUM INCOME BENEFIT). Your benefit base is equal to the greater of either: o your initial contribution to the contract (plus any subsequent contributions), or o your highest account value on any contract anniversary up to the contract anniversary following the annuitant's 85th birthday, plus any contributions made since the most recent ratchet occurred, less o a deduction that reflects any withdrawals you make. The amount of the deduction is described under "How withdrawals affect your Guaranteed minimum income benefit and Guaranteed minimum death benefit" in "Accessing your money" later in this prospectus. GREATER OF THE 6% ROLL-UP TO AGE 85 OR THE ANNUAL RATCHET TO AGE 85 ENHANCED DEATH BENEFIT AND FOR THE GUARANTEED MINIMUM INCOME BENEFIT. Your benefit base is equal to the greater of the benefit base computed for the 6% Roll-Up to age 85 or the benefit base computed for the Annual Ratchet to age 85, as described immediately above, on each contract date anniversary. GUARANTEED MINIMUM DEATH BENEFIT/GUARANTEED MINIMUM INCOME BENEFIT ROLL-UP BENEFIT BASE RESET. If both the Guaranteed minimum income benefit AND the Greater of the 6% Roll-Up to age 85 or the Annual Ratchet to age 85 enhanced death benefit (the "Greater of enhanced death benefit") are elected, you may reset the Roll-Up benefit base for these guaranteed benefits to equal the account value as of the 5th or on any later contract date anniversary until age 75. The reset amount would equal the account value as of the contract date anniversary on which you reset your Roll-Up benefit base. The 6% Roll-Up continues to age 85 on any reset benefit base. We will send you a notice in each year that the Roll-Up benefit base is eligible to be reset, and you will have 30 days from your contract date anniversary to reset your Roll-Up benefit base. Each time you reset the Roll-Up benefit base, your Roll-Up benefit base will not be eligible for another reset for five years. If after your death your spouse continues this contract, the benefit base will be eligible to be reset either five years from the contract date or from the last reset date, if applicable. The last age at which the benefit base is eligible to be reset is the annuitant's age 75. It is important to note that once you have reset your Roll-Up benefit base, a new waiting period to exercise the Guaranteed minimum income benefit will apply from the date of the reset; you may not exercise until the tenth contract date anniversary following the date of the reset. See "Guaranteed minimum income benefit option--Exercise rules" below for more information regarding the 10 year waiting period. Please note that resetting your Roll-Up benefit base will lengthen the exercise waiting period. Also, although there is no additional charge when you reset your Roll-Up benefit base, the total dollar amount charged on future contract date anniversaries may increase as a result of the reset since the charges may be applied to a higher benefit base than would have been otherwise applied. See "Charges and expenses" later in this prospectus. Also, owners of IRA and TSA contracts whose lifeline required minimum distributions must begin before the end of the new exercise waiting period should consider carefully before resetting their rollup benefit base. If the required minimum distributions exceed 6% of the reset benefit base, they would cause a pro rata reduction in the benefit base. On the other hand, resetting the benefit base to a larger amount would make it less likely that the required minimum distributions actually exceed the 6% threshold. See "Lifetime require minimum distribution withdrawals" and "How withdrawals affect your Guaranteed minimum income benefit and Guaranteed minimum death benefit" in "Accessing your money" later in this prospectus. The Roll-Up benefit base for both the Greater of enhanced death benefit and the Guaranteed minimum income benefit are reset simultaneously when you request a Roll-Up benefit base reset. You cannot elect a Roll-Up benefit base reset for one benefit and not the other. ANNUITY PURCHASE FACTORS Annuity purchase factors are the factors applied to determine your periodic payments under the Guaranteed minimum income benefit and annuity payout options. The Guaranteed minimum income benefit is discussed in "Guaranteed minimum income benefit option" below and annuity payout options are discussed in "Accessing your money" later in this prospectus. Annuity purchase factors are based on interest rates, mortality tables, frequency of payments, the form of annuity benefit, and the annuitant's age and sex in certain instances. Your contract specifies different guaranteed annuity purchase factors for the Guaranteed minimum income benefit and the annuity payout options. We may provide more favorable current annuity purchase factors for the annuity payout options but we will always use the guaranteed purchase factors to determine your periodic payments under the Guaranteed minimum income benefit. GUARANTEED MINIMUM INCOME BENEFIT OPTION ("GMIB") The Guaranteed minimum income benefit is available if the annuitant is age 55 through 75 at the time the contract is issued. There is an additional charge for the Guaranteed minimum income benefit which is described under "Guaranteed minimum income benefit charge" in "Charges and expenses" later in this prospectus. Once you purchase the Guaranteed minimum income benefit, you may not voluntarily terminate this benefit. If the annuitant was older than age 60 at the time an IRA or TSA contract was issued, the Guaranteed minimum income benefit may not be an appropriate feature because the minimum distributions required by tax law generally must begin before the Guaranteed minimum income benefit can be exercised. If you elect the Guaranteed minimum income benefit option and change ownership of the contract, this benefit will automatically terminate, except under certain circumstances. See "Transfers of ownership, collateral assignments, loans and borrowing" in "More information," later in this prospectus for more information. 26 Contract features and benefits The Guaranteed minimum income benefit guarantees you a minimum amount of fixed income under your choice of a life annuity fixed payout option or a life with a period certain payout option, subject to state availability. You choose which of these payout options you want and whether you want the option to be paid on a single or joint life basis at the time you exercise your Guaranteed minimum income benefit. The maximum period certain available under the life with a period certain payout option is 10 years. This period may be shorter, depending on the annuitant's age as follows: - -------------------------------------------------------------------------------- Level payments - -------------------------------------------------------------------------------- Period certain years ----------------------------------------------------- Annuitant's age at exercise IRAs NQ - -------------------------------------------------------------------------------- 75 and younger 10 10 76 9 10 77 8 10 78 7 10 79 7 10 80 7 10 81 7 9 82 7 8 83 7 7 84 6 6 85 5 5 - -------------------------------------------------------------------------------- We may also make other forms of payout options available. For a description of payout options, see "Your annuity payout options" in "Accessing your money" later in this prospectus. - -------------------------------------------------------------------------------- The Guaranteed minimum income benefit should be regarded as a safety net only. - -------------------------------------------------------------------------------- When you exercise the Guaranteed minimum income benefit, the annual lifetime income that you will receive will be the greater of (i) your Guaranteed minimum income benefit which is calculated by applying your Guaranteed minimum income benefit base at guaranteed annuity purchase factors, or (ii) the income provided by applying your account value at our then current annuity purchase factors. For TSA only, we will subtract from the Guaranteed minimum income benefit base or account value any outstanding loan, including interest accrued but not paid. You may also elect to receive monthly or quarterly payments as an alternative. The payments will be less than 1/12 or 1/4 of the annual payments, respectively, due to the effect of interest compounding. The benefit base is applied only to the guaranteed annuity purchase factors under the Guaranteed minimum income benefit in your contract and not to any other guaranteed or current annuity purchase rates. The amount of income you actually receive will be determined when we receive your request to exercise the benefit. When you elect to receive annual lifetime income, your contract will terminate and you will receive a new contract for the annuity payout option. For a discussion of when your payments will begin and end, see "Exercise of Guaranteed minimum income benefit" below. Before you elect the Guaranteed minimum income benefit, you should consider the fact that it provides a form of insurance and is based on conservative actuarial factors. The guaranteed annuity purchase factors we use to determine your payout annuity benefit under the Guaranteed minimum income benefit are more conservative than the guaranteed annuity purchase factors we use for our standard payout annuity options. This means that, assuming the same amount is applied to purchase the benefit and that we use guaranteed annuity purchase factors to compute the benefit, each periodic payment under the Guaranteed minimum income benefit payout annuity will be smaller than each periodic payment under our standard payout annuity options. Therefore, even if your account value is less than your benefit base, you may generate more income by applying your account value to current annuity purchase factors. We will make this comparison for you when the need arises. GUARANTEED MINIMUM INCOME BENEFIT "NO LAPSE GUARANTEE". In general, if your account value falls to zero (except, as discussed below, if your account value falls to zero due to a withdrawal that causes your total contract year withdrawals to exceed 6% of the Roll-Up benefit base as of the beginning of the contract year or in the first contract year all contributions received in the first 90 days), the Guaranteed minimum income benefit will be exercised automatically, based on the annuitant's current age and benefit base, as follows: o You will be issued a supplementary contract based on a single life with a maximum 10 year period certain. Payments will be made annually starting one year from the date the account value fell to zero. o You will have 30 days from when we notify you to change the payout option and/or the payment frequency. The no lapse guarantee will terminate under the following circumstances: o If your account value falls to zero due to a withdrawal that causes your total contract year withdrawals to exceed 6% of the Roll-Up benefit base (as of the beginning of the contract year); o If your aggregate withdrawals during any contract year exceed 6% of the Roll-Up benefit base (as of the beginning of the contract year) or in the first contract year, all contributions received in the first 90 days; o Upon annuitant reaching age 85. Please note that if you participate in our RMD automatic withdrawal option, an automatic withdrawal under that program will not cause the no lapse guarantee to terminate even if a withdrawal causes your total contract year withdrawals to exceed 6% of your Roll-Up benefit base. ILLUSTRATIONS OF GUARANTEED MINIMUM INCOME BENEFIT. Assuming the 6% Roll-Up to age 85 benefit base, the table below illustrates the Guaranteed minimum income benefit amounts per $100,000 of initial contribution, for a male annuitant age 60 (at issue) on the contract date anniversaries indicated, who has elected the life annuity fixed payout option, using the guaranteed annuity purchase factors as of Contract features and benefits 27 the date of this prospectus, assuming no additional contributions, withdrawals or loans under TSA contracts, and assuming there were no allocations to the EQ/AllianceBernstein Intermediate Government Securities, EQ/Money Market, EQ/Short Duration Bond, the guaranteed interest option, the fixed maturity options or the loan reserve account. - -------------------------------------------------------------------------------- Guaranteed minimum income Contract date benefit -- annual income pay- anniversary at exercise able for life - -------------------------------------------------------------------------------- 10 $11,891 15 $18,597 - -------------------------------------------------------------------------------- EXERCISE OF GUARANTEED MINIMUM INCOME BENEFIT. On each contract date anniversary that you are eligible to exercise the Guaranteed minimum income benefit, we will send you an eligibility notice illustrating how much income could be provided as of the contract date anniversary. You must notify us within 30 days following the contract date anniversary if you want to exercise the Guaranteed minimum income benefit. You must return your contract to us, along with all required information, within 30 days following your contract date anniversary in order to exercise this benefit. You will begin receiving annual payments one year after the annuity payout contract is issued. If you choose monthly or quarterly payments, you will receive your payment one month or one quarter after the annuity payout contract is issued. You may choose to take a withdrawal prior to exercising the Guaranteed minimum income benefit, which will reduce your payments. You may not partially exercise this benefit. See "Accessing your money" under "Withdrawing your account value" later in this prospectus. Payments end with the last payment before the annuitant's (or joint annuitant's, if applicable) death or if later, the end of the period certain (where the payout option chosen includes a period certain). EXERCISE RULES. You are eligible to exercise the Guaranteed minimum income benefit within 30 days following each contract date anniversary beginning with the 10th contract date anniversary. Please note: (i) the latest date you may exercise the Guaranteed minimum income benefit is within 30 days following the contract date anniversary following the annuitant's 85th birthday; (ii) if the annuitant was age 75 when the contract was issued or the Roll-Up benefit base was reset, the only time you may exercise the Guaranteed minimum income benefit is within 30 days following the contract date anniversary which follows the annuitant's attainment of age 85; (iii) for EQUI-VEST(SM) At Retirement(SM) TSA contracts, you may exercise the Guaranteed minimum income benefit only if you effect a rollover of the TSA contract to an EQUI-VEST(SM) At Retirement(SM) IRA. This process must be completed within the 30-day timeframe following the contract date anniversary in order for you to be eligible to exercise; (iv) if you reset the Roll-Up benefit base (as described earlier in this section), your new exercise date will be the tenth contract date anniversary following the date of the reset. Please note that resetting your Roll-Up benefit base will lengthen the waiting period; (v) a successor owner/annuitant may only continue the Guaranteed minimum income benefit if the contract is not past the last date on which the original annuitant could have exercised the benefit. In addition, the spouse beneficiary or younger spouse joint owner must be eligible to continue the benefit and to exercise the benefit under the applicable exercise rule (described in the above bullets) using the following additional rules. The successor owner/annuitant's age on the date of the annuitant's death replaces the annuitant's age at issue for purposes of determining the availability of the benefit and which of the exercise rules applies. The original contract issue date will continue to apply for purposes of the exercise rules; (vi) if you are the owner but not the annuitant and you die prior to exercise, then the following applies: o A successor owner who is not the annuitant may not be able to exercise the guaranteed minimum income benefit without causing a tax problem. You should consider naming the annuitant as successor owner, or if you do not name a successor owner, as the sole primary beneficiary. You should carefully review your successor owner and/or beneficiary designations at least one year prior to the first contract anniversary on which you could exercise the benefit. o If the successor owner is the annuitant, the guaranteed minimum income benefit continues only if the benefit could be exercised under the rules described above on a contract anniversary that is within one year following the owner's death. This would be the only opportunity for the successor owner to exercise. If the guaranteed minimum income benefit cannot be exercised within this timeframe, the benefit will terminate and the charge for it will no longer apply as of the date we receive proof of your death and any required information. o If you designate your surviving spouse as successor owner, the guaranteed minimum income benefit continues and your surviving spouse may exercise the benefit according to the rules described above even if your spouse is not the annuitant and even if the benefit is exercised more than one year after your death. If your surviving spouse dies prior to exercise, the rule described in the previous bullet applies. o A successor owner or beneficiary that is a trust or other non- natural person may not exercise the benefit; in this case, the benefit will terminate and the charge for it will no longer apply as of the date we receive proof of your death and any required information. See "When an NQ contract owner dies before the annuitant" under "Payment of death benefit" later in this prospectus for more information. Please see both "Insufficient account value" in "Determining your contract value" and "How withdrawals affect your Guaranteed minimum 28 Contract features and benefits income benefit and Guaranteed minimum death benefit" in "Accessing your money" and the section entitled "Charges and expenses" later in this prospectus for more information on these guaranteed benefits. GUARANTEED MINIMUM DEATH BENEFIT Your contract provides a death benefit. If you do not elect one of the enhanced death benefits described below, the death benefit is equal to your account value (without adjustment for any otherwise applicable negative market value adjustment) as of the date we receive satisfactory proof of death, any required instructions for the method of payment, information and forms necessary to effect payment, OR the standard death benefit, whichever provides the higher amount. The standard death benefit is equal to your total contributions adjusted for any withdrawals. The standard death benefit, available at no additional charge, may be elected only in conjunction with the Guaranteed minimum income benefit. Either one of the enhanced death benefits can be elected by itself or with the Guaranteed minimum income benefit. Once your contract is issued, you may not change or voluntarily terminate your death benefit. For an additional charge, you may elect one of the enhanced death benefits. If you elect one of the enhanced death benefits, the death benefit is equal to your account value (without adjustment for any otherwise applicable negative market value adjustment) as of the date we receive satisfactory proof of the annuitant's death, any required instructions for the method of payment, information and forms necessary to effect payment, OR your elected enhanced death benefit on the date of the annuitant's death adjusted for any subsequent withdrawals, whichever provides the higher amount. See "Payment of death benefit" later in this prospectus for more information. If you elect one of the enhanced death benefit options described below and change ownership of the contract, generally the benefit will automatically terminate, except under certain circumstances. If this occurs, any enhanced death benefit elected will be replaced with the standard death benefit. See "Transfers of ownership, collateral assignments, loans and borrowing" in "More information," later in this prospectus for more information. OPTIONAL ENHANCED DEATH BENEFITS APPLICABLE FOR ANNUITANT AGES 55 THROUGH 75 AT ISSUE. Subject to state availability, you may elect one of the following enhanced death benefits (see Appendix V later in this prospectus for state availability of these benefits): o Annual Ratchet to age 85. o The greater of the 6% Roll-Up to age 85 or the Annual Ratchet to age 85. Each enhanced death benefit is equal to its corresponding benefit base described earlier in "Guaranteed minimum death benefit and Guaranteed minimum income benefit base." Once you have made your enhanced death benefit election, you may not change it. Please see both "Insufficient account value" in "Determining your contract value" and "How withdrawals affect your Guaranteed minimum income benefit and Guaranteed minimum death benefit " in "Accessing your money" later in this prospectus for more information on these guaranteed benefits. See Appendix III later in this prospectus for an example of how we calculate an enhanced death benefit. YOUR RIGHT TO CANCEL WITHIN A CERTAIN NUMBER OF DAYS If for any reason you are not satisfied with your contract, you may return it to us for a refund or reinstate your original EQUI-VEST(SM) or EQUI-VEST(SM) Express(SM) contract. To exercise this cancellation right you must mail the contract, with a signed letter of instruction electing this right, to our processing office within 10 days after you receive it. If state law requires, this "free look" period may be longer. Other state variations may apply. For contributions allocated to the variable investment options, your refund will equal your contributions, reflecting any investment gain or loss that also reflects the daily charges we deduct. For contributions allocated to the guaranteed interest option, your refund will equal the amount of the contributions but will not include interest. For contributions allocated to the fixed maturity options, your refund will equal the amount of the contribution allocated to the fixed maturity options reflecting any positive or negative market value adjustments. Some states require that we refund the full amount of your contribution (not including any investment gain or loss, interest, or market value adjustment). For an IRA contract returned to us within seven days after you receive it, we are required to refund the full amount of your contribution. We may require that you wait six months before you may apply for a contract with us again if: o you cancel your contract during the free look period; or o you change your mind before you receive your contract. If you cancel your EQUI-VEST(SM) At Retirement(SM) contract during the free look period and choose to reinstate your EQUI-VEST(SM) or EQUI-VEST(SM) Express(SM) contract, the death benefit under your EQUI-VEST(SM) contract will be restored to its value before the transfer to the EQUI-VEST(SM) At Retirement(SM) contract occurred. Please see "Tax information" later in this prospectus for possible consequences of cancelling your contract. In addition to the cancellation right described above, you have the right to surrender your contract, rather than cancel it. Please see "Surrender of your contract to receive its cash value," later in this prospectus. Surrendering your contract may yield results different than canceling your contract, including a greater potential for taxable income. In some cases, your cash value upon surrender may be greater than your contributions to the contract. Please see "Tax information," later in this prospectus for possible consequences of cancelling your contract. Our processing office, or your financial professional, can provide you with the cancellation instructions. Contract features and benefits 29 2. Determining your contract's value - -------------------------------------------------------------------------------- YOUR ACCOUNT VALUE AND CASH VALUE Your "account value" is the total of the values you have in: (i) the variable investment options; (ii) the guaranteed interest option; (iii) market adjusted amounts in the fixed maturity options; and (iv) the loan reserve account (applicable to TSA contracts only). Your contract also has a "cash value." At any time before annuity payments begin, your contract's cash value is equal to the account value, less: (i) the total amount or a pro rata portion of optional benefit charges; and (ii) the amount of any outstanding loan plus accrued interest (applicable to TSA contracts only). Please see "Surrendering your contract to receive its cash value" in "Accessing your money" later in this prospectus. YOUR CONTRACT'S VALUE IN THE VARIABLE INVESTMENT OPTIONS Each variable investment option invests in shares of a corresponding portfolio. Your value in each variable investment option is measured by "units." The value of your units will increase or decrease as though you had invested it in the corresponding portfolio's shares directly. Your value, however, will be reduced by the amount of the fees and charges that we deduct under the contract. The unit value for each variable investment option depends on the investment performance of that option, less daily charges for: (i) mortality and expense; (ii) administrative expenses; and (iii) distribution charges. On any day, your value in any variable investment option equals the number of units credited to that option, adjusted for any units purchased for or deducted from your contract under that option, multiplied by that day's value for one unit. The number of your contract units in any variable investment option does not change unless they are: (i) increased to reflect subsequent contributions; (ii) decreased to reflect a withdrawal; (iii) increased to reflect a transfer into, or decreased to reflect a transfer out of, a variable investment option; or (iv) increased or decreased to reflect a transfer of your loan amount from or to the loan reserve account under a TSA contract. In addition, when we deduct the enhanced death benefit and/or Guaranteed minimum income benefit charges, the number of units credited to your contract will be reduced. A description of how unit values are calculated is found in the SAI. YOUR CONTRACT'S VALUE IN THE GUARANTEED INTEREST OPTION Your value in the guaranteed interest option at any time will equal: your contributions and transfers to that option, plus interest, minus withdrawals out of the option, and charges we deduct. YOUR CONTRACT'S VALUE IN THE FIXED MATURITY OPTIONS Your value in each fixed maturity option at any time before the maturity date is the market adjusted amount in each option, which reflects withdrawals out of the option and charges we deduct. This is equivalent to your fixed maturity amount increased or decreased by the market value adjustment. Your value, therefore, may be higher or lower than your contributions (less withdrawals) accumulated at the rate to maturity. At the maturity date, your value in the fixed maturity option will equal its maturity value, provided there have been no withdrawals or transfers. INSUFFICIENT ACCOUNT VALUE Your contract will terminate without value if your account value is insufficient to pay any applicable charges when due. Your account value could become insufficient due to withdrawals and/or poor market performance. Upon such termination, you will lose all your rights under your contract and any applicable guaranteed benefits, except as discussed below. See Appendix V later in this prospectus for any state variations with regard to terminating your contract. GUARANTEED MINIMUM INCOME BENEFIT NO LAPSE GUARANTEE. In certain circumstances, even if your account value falls to zero, your Guaranteed minimum income benefit will still have value. Please see "Contract features and benefits" earlier in this prospectus for information on this feature. 30 Determining your contract's value 3. Transferring your money among investment options - -------------------------------------------------------------------------------- TRANSFERRING YOUR ACCOUNT VALUE At any time before the date annuity payments are to begin, you can transfer some or all of your account value among the investment options, subject to the following: o If the annuitant is age 76 or older, you must limit your transfers to fixed maturity options with maturities of five years or less. o We will not accept allocations to a fixed maturity option if on the date the contribution or transfer is to be applied, the rate to maturity is 3%. Also, the maturity dates may be no later than the date annuity payments are to begin. o If you already have an amount in a fixed maturity option, you may not add additional amounts to that same option. o If you make transfers out of a fixed maturity option other than at its maturity date, the transfer may cause a market value adjustment. o A transfer into the guaranteed interest option will not be permitted if such transfer would result in more than 25% of the account value being allocated to the guaranteed interest option, based on the account value as of the previous business day. In addition, we reserve the right to restrict transfers among variable investment options including limitations on the number, frequency or dollar amount of transfers. Our current transfer restrictions are set forth in the "Disruptive transfer activity" section below. The maximum amount that may be transferred from the guaranteed interest option to any investment option (including amounts transferred pursuant to the fixed-dollar option and interest sweep option dollar cost averaging programs described under "Dollar Cost Averaging" below in this section) in any contract year is the greatest of: (a) 25% of the amount you have in the guaranteed interest option on the last day of the prior contract year; or (b) the total of all amounts transferred at your request from the guaranteed interest option to any of the investment options in the prior contract year; or (c) 25% of amounts transferred or allocated to the guaranteed interest option during the current contract year. From time to time, we may remove the restrictions regarding transferring amounts out of the guaranteed interest option. If we do so, we will tell you. We will also tell you at least 45 days in advance of the day that we intend to reimpose the transfer restrictions. When we reimpose the transfer restrictions, if any dollar cost averaging transfer out of the guaranteed interest option causes a violation of the 25% outbound restriction, that dollar cost averaging program will be terminated for the current contract year. A new dollar cost averaging program can be started in the next or subsequent contract years. You may request a transfer in writing, by telephone using TOPS or through EQAccess. You must send in all written transfer requests directly to our processing office. Transfer requests should specify: (1) the contract number, (2) the dollar amounts or percentages of your current account value to be transferred, and (3) the investment options to and from which you are transferring. We will confirm all transfers in writing. Please see "Allocating your contributions" in "Contract features and benefits" for more information about your role in managing your allocations. DISRUPTIVE TRANSFER ACTIVITY You should note that the contract is not designed for professional "market timing" organizations, or other organizations or individuals engaging in a market timing strategy. The contract is not designed to accommodate programmed transfers, frequent transfers or transfers that are large in relation to the total assets of the underlying portfolio. Frequent transfers, including market timing and other program trading or short-term trading strategies, may be disruptive to the underlying portfolios in which the variable investment options invest. Disruptive transfer activity may adversely affect performance and the interests of long-term investors by requiring a portfolio to maintain larger amounts of cash or to liquidate portfolio holdings at a disadvantageous time or price. For example, when market timing occurs, a portfolio may have to sell its holdings to have the cash necessary to redeem the market timer's investment. This can happen when it is not advantageous to sell any securities, so the portfolio's performance may be hurt. When large dollar amounts are involved, market timing can also make it difficult to use long-term investment strategies because a portfolio cannot predict how much cash it will have to invest. In addition, disruptive transfers or purchases and redemptions of portfolio investments may impede efficient portfolio management and impose increased transaction costs, such as brokerage costs, by requiring the portfolio manager to effect more frequent purchases and sales of portfolio securities. Similarly, a portfolio may bear increased administrative costs as a result of the asset level and investment volatility that accompanies patterns of excessive or short-term trading. Portfolios that invest a significant portion of their assets in foreign securities or the securities of small- and mid-capitalization companies tend to be subject to the risks associated with market timing and short-term trading strategies to a greater extent than portfolios that do not. Securities trading in overseas markets present time zone arbitrage opportunities when events affecting portfolio securities values occur after the close of the overseas market but prior to the close of the U.S. markets. Securities of small- and mid-capitalization companies present arbitrage opportunities because the market for such securities may be less liquid than the market for securities of larger companies, which could result in pricing inefficiencies. Please see the prospectuses for the underlying portfolios for more information on how portfolio shares are priced. Transferring your money among investment options 31 We currently use the procedures described below to discourage disruptive transfer activity. You should understand, however, that these procedures are subject to the following limitations: (1) they primarily rely on the policies and procedures implemented by the underlying portfolios; (2) they do not eliminate the possibility that disruptive transfer activity, including market timing, will occur or that portfolio performance will be affected by such activity; and (3) the design of market timing procedures involves inherently subjective judgments, which we seek to make in a fair and reasonable manner consistent with the interests of all contract owners. We offer investment options with underlying portfolios that are part of AXA Premier VIP Trust and EQ Advisors Trust (together, the "trusts"). The trusts have adopted policies and procedures regarding disruptive transfer activity. They discourage frequent purchases and redemptions of portfolio shares and will not make special arrangements to accommodate such transactions. They aggregate inflows and outflows for each portfolio on a daily basis. On any day when a portfolio's net inflows or outflows exceed an established monitoring threshold, the trust obtains from us contract owner trading activity. The trusts currently consider transfers into and out of (or vice versa) the same variable investment option within a five business day period as potentially disruptive transfer activity. Each trust reserves the right to reject a transfer that it believes, in its sole discretion, is disruptive (or potentially disruptive) to the management of one of its portfolios. Please see the prospectuses for the trusts for more information. When a contract owner is identified as having engaged in a potentially disruptive transfer under the contract for the first time, a letter is sent to the contract owner explaining that there is a policy against disruptive transfer activity and that if such activity continues certain transfer privileges may be eliminated. If and when the contract owner is identified a second time as engaged in potentially disruptive transfer activity under the contract, we currently prohibit the use of voice, fax and automated transaction services. We currently apply such action for the remaining life of each affected contract. We or a trust may change the definition of potentially disruptive transfer activity, the monitoring procedures and thresholds, any notification procedures, and the procedures to restrict this activity. Any new or revised policies and procedures will apply to all contract owners uniformly. We do not permit exceptions to our policies restricting disruptive transfer activity. It is possible that a trust may impose a redemption fee designed to discourage frequent or disruptive trading by contract owners. As of the date of this prospectus, the trusts had not implemented such a fee. If a redemption fee is implemented by a trust, that fee, like any other trust fee, will be borne by the contract owner. Contract owners should note that it is not always possible for us and the underlying trusts to identify and prevent disruptive transfer activity. In addition, because we do not monitor for all frequent trading at the separate account level, contract owners may engage in frequent trading which may not be detected, for example, due to low net inflows or outflows on the particular day(s). Therefore, no assurance can be given that we or the trusts will successfully impose restrictions on all potentially disruptive transfers. Because there is no guarantee that disruptive trading will be stopped, some contract owners may be treated differently than others, resulting in the risk that some contract owners may be able to engage in frequent transfer activity while others will bear the effect of that frequent transfer activity. The potential effects of frequent transfer activity are discussed above. DOLLAR COST AVERAGING We offer a variety of dollar cost averaging programs. You may only participate in one program at a time. Each program allows you to gradually allocate amounts to available investment options by periodically transferring approximately the same dollar amount to the investment options you select. Regular allocations to the variable investment options will cause you to purchase more units if the unit value is low and fewer units if the unit value is high. Therefore, you may get a lower average cost per unit over the long term. These plans of investing, however, do not guarantee that you will earn a profit or be protected against losses. You may not make transfers to the fixed maturity options or the guaranteed interest option under a dollar cost averaging program. - -------------------------------------------------------------------------------- Units measure your value in each variable investment option. - -------------------------------------------------------------------------------- For information on how the dollar cost averaging program you select may affect certain guaranteed benefits see "Guaranteed minimum death benefit and Guaranteed minimum income benefit base" under "Contract features and benefits" earlier in the prospectus. GENERAL DOLLAR COST AVERAGING PROGRAM. If your value in the EQ/Money Market option is at least $2,000, you may choose, at any time, to have amounts transferred from that option to the other variable investment options on a monthly basis. You can also specify the number of transfers or instruct us to continue making the transfers until all amounts in the EQ/Money Market option have been transferred out. The minimum amount that we will transfer each time is $50. The maximum amount we will transfer is equal to your value in the EQ/Money Market option at the time the program is elected, divided by the number of transfers scheduled to be made. If, on any transfer date, your value in the EQ/Money Market option is equal to or less than the amount you have elected to have transferred, the entire amount will be transferred. The general dollar cost averaging program will then end. You may change the transfer amount once each contract year or cancel this program at any time. INVESTMENT SIMPLIFIER You may choose from two automatic options for transferring amounts from the guaranteed interest option to the variable investment options. The transfer options are the "fixed-dollar option" and the "interest sweep." You may select one or the other, but not both. Election of either option does not change the general limitation under your contract that no more than 25% of any contribution may be allocated to the guaranteed interest option described above under "Allocating your contributions." If you elect to use rebalancing option II (discussed below), you may not choose either of the investment simplifier options. FIXED-DOLLAR OPTION. Under this option you may elect to have a fixed-dollar amount transferred out of the guaranteed interest option and into the variable investment options of your choice. Transfers will be made on a monthly basis. You can specify the number of monthly 32 Transferring your money among investment options transfers or instruct us to continue to make monthly transfers until all available amounts in the guaranteed interest option have been transferred out. In order to elect the fixed-dollar option, you must have a minimum of $5,000 in the guaranteed interest option on the date we receive your election form at our processing office. You also must elect to transfer at least $50 per month. The fixed-dollar option is subject to the guaranteed interest option transfer limitation described above under "Transferring your account value." Election of the option does not change the general limitation under your contract that no more than 25% of any contribution may be allocated to the guaranteed interest option described above under "Allocating your contributions." INTEREST SWEEP. Under the interest sweep, we will make transfers on a monthly basis from amounts in the guaranteed interest option into the variable investment options of your choice. The amount we will transfer will be the interest credited to amounts you have in the guaranteed interest option from the last business day of the prior month to the last business day of the current month. You must have at least $7,500 in the guaranteed interest option on the date we receive your election and on the last business day of each month thereafter to participate in the interest sweep option. Election of the option does not change the general limitation under your contract that no more than 25% of any contribution may be allocated to the guaranteed interest option described above under "Allocating your contributions." WHEN YOUR PARTICIPATION IN THE INVESTMENT SIMPLIFIER WILL END. Your participation in the investment simplifier will end: o Under the fixed-dollar option, when either the number of designated monthly transfers have been completed or the amount you have available in the guaranteed interest option has been transferred out. o Under the interest sweep, when the amount you have in the guaranteed interest option falls below $7,500 (determined on the last business day of the month) for two months in a row. o Under either option, on the date we receive at our processing office, your written request to cancel automatic transfers, or on the date your contract terminates. REBALANCING YOUR ACCOUNT VALUE Our rebalancing program offers two options that you can use to automatically reallocate your account value. Option I permits reallocation among the variable investment options only and option II permits reallocation among the variable investment options and the guaranteed interest option. Election of either option does not change the general limitation under your contract that no more than 25% of any contribution may be allocated to the guaranteed interest option described above under "Allocating your contributions." You must tell us: (a) in whole percentages only, the percentage you want invested in each variable investment option (and the guaranteed interest option, if applicable), and (b) how often you want the rebalancing to occur (quarterly, semian nually, or annually). While your rebalancing program is in effect, we will transfer amounts among each variable investment option (and the guaranteed interest option, if applicable), so that the percentage of your account value that you specify is invested in each option at the end of each rebalancing date. Your entire account value in the variable investment options (and guaranteed interest option, if applicable) must be included in the rebalancing program. Election of option II is subject to the 25% allocation restriction into the guaranteed interest option described above under "Transferring your account value," in this section. Transfer restrictions out of the guaranteed interest option may apply in accordance with (a), (b) and (c) under "Transferring your account value," above, in this section. The initial transfer under the rebalancing program (based on your account value as of the day before the program is established) is not permitted to cause the transfer restrictions to be violated, and any rebalancing election that would be a violation of the transfer restrictions will not be put into effect. However, if the program can be established, once it is in effect, the transfer restrictions will be waived for the rebalancing transfers. - -------------------------------------------------------------------------------- Rebalancing does not assure a profit or protect against loss. You should periodically review your allocation percentages as your needs change. You may want to discuss the rebalancing program with your financial professional before electing the program. - -------------------------------------------------------------------------------- You may elect the rebalancing program at any time. To be eligible, you must have (i) at least $5,000 of account value in the variable investment options for option I, or (ii) at least $5,000 of account value in the variable investment options and the guaranteed interest option, combined for option II. Rebalancing is not available for amounts you have allocated in the fixed maturity options. If you elect to use option II, you may not choose either of the investment simplifier automatic options. If you request a transfer while the rebalancing program is in effect, we will process the transfer as requested. The rebalancing program will then remain in effect unless you request in writing that it be cancelled. You may change your allocation instructions or cancel the program at any time. For TSA contracts with outstanding loans only, on any rebalancing date where the amount to be transferred from the guaranteed interest option would cause a transfer from the Loan Reserve Account (which is part of the guaranteed interest option), the rebalancing program will be automatically cancelled. (See "Loans under TSA contracts" in "Accessing your money," later in this prospectus.) Transferring your money among investment options 33 4. Accessing your money - -------------------------------------------------------------------------------- WITHDRAWING YOUR ACCOUNT VALUE You have several ways to withdraw your account value before annuity payments begin. The table below shows the methods available under each type of contract. More information follows the table. Please see "Insufficient account value" in "Determining your contract value" earlier in this prospectus and "How withdrawals affect your Guaranteed minimum income benefit and Guaranteed minimum death benefit" below for more information on how withdrawals affect your guaranteed benefits and could potentially cause your contract to terminate. - -------------------------------------------------------------------------------- Method of withdrawal ------------------------------------------------------------ Lifetime required minimum Contract Partial Systematic distribution - -------------------------------------------------------------------------------- NQ Yes Yes No - -------------------------------------------------------------------------------- IRA Yes Yes Yes - -------------------------------------------------------------------------------- Roth IRA Yes Yes No - -------------------------------------------------------------------------------- TSA Yes Yes Yes - -------------------------------------------------------------------------------- PARTIAL WITHDRAWALS You may take partial withdrawals from your account value at any time. The minimum amount you may withdraw is $300. SYSTEMATIC WITHDRAWALS If you have at least $20,000 of account value in the variable investment options and the guaranteed interest option, you may take systematic withdrawals on a monthly or quarterly basis. The minimum amount you may take for each withdrawal is $250. We will make the withdrawals on any day of the month that you select as long as it is not later than the 28th day of the month. If you do not select a date, your withdrawals will be made on the first day of the month. A check for the amount of the withdrawal will be mailed to you or, if you prefer, we will electronically transfer the money to your checking or savings account. You may withdraw either the amount of interest earned in the guaranteed interest option or a fixed-dollar amount from either the variable investment options or the guaranteed interest option. If you elect the interest option, a minimum of $20,000 must be maintained in the guaranteed interest option. If you elect the fixed-dollar option, you do not have to maintain a minimum amount. If you choose to have a fixed dollar amount taken from the variable investment options, you may elect to have the amount of the withdrawal subtracted from your account value in one of three ways: (1) pro rata from more than one variable investment option (without using up your total value in those options); or (2) pro rata from more than one variable investment option (until your value in those options is used up); or (3) you may specify a dollar amount from only one variable investment option. You can cancel the systematic withdrawal option at any time. You may elect to take systematic withdrawals at any time. If you own a TSA contract, you may not elect systematic withdrawals if you have a loan outstanding. LIFETIME REQUIRED MINIMUM DISTRIBUTION WITHDRAWALS (IRA and TSA contracts only -- See "Tax information" later in this prospectus) We offer our "required minimum distribution (RMD) automatic withdrawal option" to help you meet lifetime required minimum distributions under federal income tax rules. This is not the exclusive way for you to meet these rules. After consultation with your tax adviser, you may decide to compute required minimum distributions yourself and request partial withdrawals. Before electing this account based withdrawal option, you should consider whether annuitization might be better in your situation. If you have elected certain additional benefits, such as the Guaranteed minimum death benefit, amounts withdrawn from the contract to meet required minimum distributions will reduce the benefit base and may limit the utility of the benefit. Also, the actuarial present value of additional contract benefits must be added to the account value in calculating required minimum distribution withdrawals from annuity contracts funding TSAs and IRAs, which could increase the amount required to be withdrawn. Please refer to "Tax information" later in this prospectus. You may elect this option in the year in which you reach age 70-1/2 or in any later year. To elect this option, you must have account value in the variable investment options and the guaranteed interest option of at least $2,000. The minimum amount we will pay out is $300 or your account value, whichever is less. If your account value is less than $500 after the withdrawal, we may terminate your contract and pay you its cash value. Currently, minimum distribution withdrawal payments will be made annually. See "Required minimum distributions" in "Tax information" later in this prospectus for your specific type of retirement arrangement. - -------------------------------------------------------------------------------- For IRA and TSA contracts, we will send a form outlining the distribution options available in the year you reach age 70-1/2 (if you have not begun your annuity payments before that time). - -------------------------------------------------------------------------------- Under TSA contracts, you may not elect our RMD automatic withdrawal option if a loan is outstanding. FOR CONTRACTS WITH THE GUARANTEED MINIMUM INCOME BENEFIT. The no lapse guarantee will not be terminated if a required minimum distribution payment using our RMD automatic withdrawal option causes your cumulative withdrawals in the contract year to exceed 6% of the Roll-Up benefit base (as of the beginning of the contract year or in the first contract year, all contributions received within the first 90 days). 34 Accessing your money Owners of IRA and TSA contracts generally should not reset the Roll-Up benefit base if lifetime required minimum distributions must begin before the end of the new exercise waiting period. See "Guaranteed minimum death benefit/guaranteed minimum income benefit roll-up benefit base reset" in "Contract features and benefits" earlier in this prospectus. HOW WITHDRAWALS ARE TAKEN FROM YOUR ACCOUNT VALUE Unless you specify otherwise, we will subtract your withdrawals on a pro rata basis from your value in the variable investment options and the guaranteed interest option. If there is insufficient value or no value in the variable investment options and the guaranteed interest option, any additional amount of the withdrawal required or the total amount of the withdrawal will be withdrawn from the fixed maturity options in the order of the earliest maturity date(s) first. If the contract is surrendered or annuitized or a death benefit is paid, we will deduct a pro rata portion of the charge for that year. A market value adjustment will apply to withdrawals from the fixed maturity options. AUTOMATIC DEPOSIT SERVICE If you are receiving Required Minimum Distribution payments from an IRA or TSA contract, you may use our automatic deposit service. Under this service we will automatically deposit the Required Minimum Distribution payment from your TSA or IRA contract directly into an existing EQUI-VEST(SM) or EQUI-VEST(SM) Express(SM) NQ or Roth IRA contract according to your allocation instructions. Please note that you must have compensation or earned income for the year of the contribution to make regular contributions to Roth IRAs. HOW WITHDRAWALS AFFECT YOUR GUARANTEED MINIMUM INCOME BENEFIT AND GUARANTEED MINIMUM DEATH BENEFIT In general, withdrawals (including required minimum distributions) will reduce your guaranteed benefits on a pro rata basis. Reduction on a pro rata basis means that we calculate the percentage of your current account value that is being withdrawn and we reduce your current benefit by the same percentage. For example, if your account value is $30,000 and you withdraw $12,000, you have withdrawn 40% of your account value. If your benefit was $40,000 before the withdrawal, it would be reduced by $16,000 ($40,000 X .40) and your new benefit after the withdrawal would be $24,000 ($40,000 - $16,000). With respect to the Guaranteed minimum income benefit and the greater of 6% Roll-Up to age 85 or the Annual Ratchet to age 85 enhanced death benefit, withdrawals will reduce each of the benefits' 6% Roll-Up to age 85 benefit base on a dollar-for-dollar basis, as long as the sum of withdrawals in a contract year is 6% or less of the 6% Roll-Up benefit base on the contract issue date or the most recent contract date anniversary, if later. For this purpose, in the first contract year, all contributions received in the first 90 days after contract issue will be considered to have been received on the first day of the contract year. In subsequent contract years, additional contributions made during the contract year do not affect the amount of withdrawals that can be taken on a dollar-for-dollar basis in that contract year. Once a withdrawal is taken that causes the sum of withdrawals in a contract year to exceed 6% of the benefit base on the most recent anniversary, that entire withdrawal (including required minimum distributions) and any subsequent withdrawals in that same contract year will reduce the benefit base pro rata. Reduction on a dollar-for-dollar basis means that your 6% Roll-Up to age 85 benefit base will be reduced by the dollar amount of the withdrawal for each Guaranteed benefit. The Annual Ratchet to age 85 benefit base will always be reduced on a pro rata basis. WITHDRAWALS TREATED AS SURRENDERS If you request to withdraw more than 90% of a contract's current cash value, we will treat it as a request to surrender the contract for its cash value. In addition, we have the right to pay the cash value and terminate this contract if the account value is less than $500, or if you make a withdrawal that would result in a cash value of less than $500. The rules in the preceding sentence do not apply if the Guaranteed minimum income benefit no lapse guarantee is in effect on your contract. See "Surrendering your contract to receive its cash value" below. For the tax consequences of withdrawals, see "Tax information" later in this prospectus. LOANS UNDER TSA CONTRACTS As a result of Federal Tax law changes beginning in 2007, loans are not available under an EQUI-VEST(SM) At Retirement(SM) TSA contract without employer or plan administrator approval. Loan processing may not be completed until we receive all information and approvals required to process the loan at our processing office. If loans are available, you should read the terms and conditions on our loan request form carefully before taking out a loan. Your contract contains further details of the loan provision. We will not permit you to take a loan while you are enrolled in our "required minimum distribution (RMD) automatic withdrawal option." We may also restrict the availability of loans if you have not fully repaid the entire outstanding balance of any prior loan. If you exercise the GMIB option, any outstanding loan amount must be repaid or the loan will be defaulted. We permit only one loan to be outstanding at any time. When you take a loan we will transfer certain amounts to a loan reserve account. A loan with respect to an EQUI-VEST(SM) At Retirement(SM) TSA contract, will not be treated as a taxable distribution unless: o it exceeds limits of federal income tax rules; or o interest and principal are not paid when due. Loans under TSA contracts are discussed further in "Tax information" later in this prospectus. The tax consequences of failure to repay a loan when due are substantial and may result in severe restrictions on your ability to borrow amounts. Also, see "Tax information" later in this prospectus for general rules applicable to loans. LOAN RESERVE ACCOUNT. On the date your loan is processed, we will transfer to a "loan reserve account" an amount equal to the sum of (1) Accessing your money 35 the loan amount, which will earn interest at the "loan reserve account rate" during the loan term and (2) 10% of the loan amount, which will earn interest at the guaranteed interest rate. You may not make any withdrawals or transfers among investment options or any other transaction from the loan reserve account until after repayment of the principal amount then due. You may specify on the 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 minus a maximum rate of 2%. SURRENDERING YOUR CONTRACT TO RECEIVE ITS CASH VALUE You may surrender your contract to receive its cash value at any time while the annuitant is living and before you begin to receive annuity payments. For a surrender to be effective, we must receive your written request and your contract at our processing office. We will determine your cash value on the date we receive the required information. All benefits under the contract will terminate as of the date we receive the required information. Also, if the Guaranteed minimum income benefit no lapse guarantee is in effect, the benefit will terminate without value if your cash value plus any other withdrawals taken in the contract year exceed 6% of the Roll-Up benefit base (as of the beginning of the contract year). For more information, please see "Insufficient account value" in "Determining your contract value" in "Contract features and benefits" earlier in this prospectus. You may receive your cash value in a single sum payment or apply it to one or more of the annuity payout options. See "Your annuity payout options" below. For the tax consequences of surrenders, see "Tax information" later in this prospectus. WHEN TO EXPECT PAYMENTS Generally, we will fulfill requests for payments out of the variable investment options within seven calendar days after the date of the transaction to which the request relates. These transactions may include applying proceeds to a variable annuity, payment of a death benefit, payment of any amount you withdraw and, upon surrender, payment of the cash value. We may postpone such payments or applying proceeds for any period during which: (1) the New York Stock Exchange is closed or restricts trading, (2) the SEC determines that an emergency exists as a result of which sales of securities or determination of fair value of a variable investment option's assets is not reasonably practicable, or (3) the SEC, by order, permits us to defer payment to protect people remaining in the variable investment options. We can defer payment of any portion of your value in the guaranteed interest option and fixed maturity options (other than for death benefits) for up to six months while you are living. All payments are made by check and are mailed to you (or the payee named in a tax-free exchange) by U.S. mail, unless you request that we use an express delivery or wire transfer service at your expense. YOUR ANNUITY PAYOUT OPTIONS Deferred annuity contracts such as EQUI-VEST(SM) At Retirement(SM) provide for conversion to payout status at or before the contract's "maturity date." This is called annuitization. When you annuitize your EQUI-VEST(SM) At Retirement(SM) contract, all its benefits will terminate and you will receive a supplemental annuity payout contract ("payout option") that provides periodic payments for life or for a specified period of time. In general, the periodic payment amount is determined by the account value or cash value of your EQUI-VEST(SM) At Retirement(SM) contract at the time of annuitization and the annuity purchase factor to which that value is applied, as described below. Alternatively, if you have a Guaranteed minimum income benefit, you may exercise your benefit in accordance with its terms. Your EQUI-VEST(SM) At Retirement(SM) contract guarantees that upon annuitization, your annuity account value will be applied to a guaranteed annuity purchase factor for a life annuity payout option. In addition, you may apply your account value or cash value, whichever is applicable, to any other annuity payout option that we may offer at the time of annuitization. We currently offer you several choices of annuity payout options. Some enable you to receive fixed annuity payments, which can be either level or increasing, and others enable you to receive variable annuity payments. Please see Appendix V later in this prospectus for variations that may apply in your state. You can choose from among the annuity payout options listed below. Restrictions may apply, depending on the type of contract you own or the annuitant's age at contract issue. In addition, if you are exercising your Guaranteed minimum income benefit, your choice of payout options are those that are available under the Guaranteed minimum income benefit (see "Guaranteed minimum income benefit option" in "Contract features and benefits" earlier in this prospectus). - -------------------------------------------------------------------------------- Fixed annuity payout options Life annuity Life annuity with period certain Life annuity with refund certain Period certain annuity - -------------------------------------------------------------------------------- Variable Immediate Annuity Life annuity payout options (as described in Life annuity with period certain a separate prospectus for this option) - -------------------------------------------------------------------------------- Income Manager(SM) payout options Life annuity with period certain (available for annuitants age 83 Period certain annuity or less at contract issue) (as described in a separate prospec- tus for this option) - -------------------------------------------------------------------------------- o Life annuity: An annuity that guarantees payments for the rest of the annuitant's life. Payments end with the last monthly payment before the annuitant's death. Because there is no continuation of benefits following the annuitant's death with this payout option, it provides the highest monthly payment of any of the life annuity options, so long as the annuitant is living. o Life annuity with period certain: An annuity that guarantees payments for the rest of the annuitant's life. If the annuitant dies before the end of a selected period of time ("period certain"), payments continue to the beneficiary for the balance of the period certain. The 36 Accessing your money period certain cannot extend beyond the annuitant's life expectancy. A life annuity with a period certain is the form of annuity under the contracts that you will receive if you do not elect a different payout option. In this case, the period certain will be based on the annuitant's age and will not exceed 10 years. o Life annuity with refund certain: An annuity that guarantees payments for the rest of the annuitant's life. If the annuitant dies before the amount applied to purchase the annuity option has been recovered, payments to the beneficiary will continue until that amount has been recovered. This payout option is available only as a fixed annuity. o Period certain annuity: An annuity that guarantees payments for a specific period of time, usually 5, 10, 15, or 20 years. This guaranteed period may not exceed the annuitant's life expectancy. This option does not guarantee payments for the rest of the annuitant's life. It does not permit any repayment of the unpaid principal, so you cannot elect to receive part of the payments as a single sum payment with the rest paid in monthly annuity payments. This payout option is available only as a fixed annuity. The life annuity, life annuity with period certain, and life annuity with refund certain payout options are available on a single life or joint and survivor life basis. The joint and survivor life annuity guarantees payments for the rest of the annuitant's life and, after the annuitant's death, payments continue to the survivor. We may offer other payout options not outlined here. Your financial professional can provide details. FIXED ANNUITY PAYOUT OPTIONS With fixed annuities, we guarantee fixed annuity payments will be based either on the tables of guaranteed annuity purchase factors in your contract or on our then current annuity purchase factors, whichever is more favorable for you. VARIABLE IMMEDIATE ANNUITY PAYOUT OPTIONS Variable Immediate Annuities are described in a separate prospectus that is available from your financial professional. Before you select a Variable Immediate Annuity payout option, you should read the prospectus which contains important information that you should know. Variable Immediate Annuities may be funded through your choice of available variable investment options investing in portfolios of AXA Premier VIP Trust and EQ Advisors Trust. The contract also offers a fixed income annuity payout option that can be elected in combination with the variable annuity payout option. The amount of each variable income annuity payment will fluctuate, depending upon the performance of the variable investment options, and whether the actual rate of investment return is higher or lower than an assumed base rate. INCOME MANAGER(SM) PAYOUT OPTIONS The Income Manager(SM) payout annuity contracts differ from the other payout annuity contracts. The other payout annuity contracts may provide higher or lower income levels, but do not have all the features of the Income Manager(SM) payout annuity contract. You may request an illustration of the Income Manager(SM) payout annuity contract from your financial professional. Income Manager(SM) payout options are described in a separate prospectus that is available from your financial professional. Before you select an Income Manager(SM) payout option, you should read the prospectus which contains important information that you should know. Both NQ and IRA Income Manager(SM) payout options provide guaranteed level payments. The Income Manager(SM) (life annuity with period certain) also provides guaranteed increasing payments (NQ contracts only). For TSA contracts, if you want to elect an Income Manager(SM) payout option, we will first roll over amounts in such contract to an IRA contract. You may choose to apply only part of the account value of your EQUI-VEST(SM) At Retirement(SM) contract to an Income Manager(SM) payout annuity. In this case, we will consider any amounts applied as a withdrawal from your EQUI-VEST(SM) At Retirement(SM) contract. For the tax consequences of withdrawals, see "Tax information" later in this prospectus. The Income Manager(SM) payout options are not available in all states. THE AMOUNT APPLIED TO PURCHASE AN ANNUITY PAYOUT OPTION The amount applied to purchase an annuity payout option varies, depending on the payout option that you choose, and the timing of your purchase as it relates to any market value adjustments. If amounts in a fixed maturity option are used to purchase any annuity payout option, prior to the maturity date, a market value adjustment will apply. SELECTING AN ANNUITY PAYOUT OPTION When you select a payout option, we will issue you a separate written agreement confirming your right to receive annuity payments. We require you to return your contract before annuity payments begin. The contract owner and annuitant must meet the issue age and payment requirements. You can choose the date annuity payments begin but it may not be earlier than thirteen months from the EQUI-VEST(SM) At Retirement(SM) contract date. Except with respect to the Income Manager(SM) annuity payout options, where payments are made on the 15th day of each month, you can change the date your annuity payments are to begin anytime before that date as long as you do not choose a date later than the 28th day of any month. Also, that date may not be later than the annuity maturity date described below. The amount of the annuity payments will depend on the amount applied to purchase the annuity and the applicable annuity purchase factors, discussed earlier. The amount of each annuity payment will decrease if you increase the duration or frequency of a non-life contingent annuity or the certain period of a life contingent annuity. Once elected, the frequency with which you receive payments cannot be changed. If, at the time you elect a payout option, the amount to be applied is less than $2,000 or the initial payment under the form elected is less than $20 monthly, we reserve the right to pay the account value in a single sum rather than as payments under the payout option chosen. Accessing your money 37 If you select an annuity payout option and payments have begun, no change can be made other than: (i) transfers (if permitted in the future) among the variable investment options if a Variable Immediate Annuity payout option is selected; and (ii) withdrawals or contract surrender (subject to a market value adjustment) if an Income Manager(SM) payout option is chosen. ANNUITY MATURITY DATE Your contract has a maturity date by which you must either take a lump sum withdrawal or select an annuity payout option. The maturity date is based on the age of the original annuitant at contract issue and cannot be changed even if you name a new annuitant. The maturity date is generally the contract date anniversary that follows the annuitant's 95th birthday. We will send a notice with the annual statement one year prior to the maturity age. Please see Appendix V later in this prospectus for variations that may apply in your state. 38 Accessing your money 5. Charges and expenses - -------------------------------------------------------------------------------- CHARGES THAT AXA EQUITABLE DEDUCTS We deduct the following charges each day from the net assets of each variable investment option. These charges are reflected in the unit values of each variable investment option: o A mortality and expense risks charge o An administrative charge o A distribution charge We deduct the following charges from your account value. When we deduct these charges from your variable investment options, we reduce the number of units credited to your contract: o On each contract date anniversary, a charge for each optional benefit that you elect: a death benefit (other than the Standard death benefit); and the Guaranteed minimum income benefit. o At the time annuity payments are to begin -- charges designed to approximate certain taxes that may be imposed on us, such as premium taxes in your state. A variable immediate annuity administrative fee may also apply. More information about these charges appears below. We will not increase these charges for the life of your contract, except as noted. The charges under the contracts are designed to cover, in the aggregate, our direct and indirect costs of selling, administering and providing benefits under the contracts. They are also designed, in the aggregate, to compensate us for the risks of loss we assume pursuant to the contracts. If, as we expect, the charges that we collect from the contracts exceed our total costs in connection with the contracts, we will earn a profit. Otherwise, we will incur a loss. The rates of certain of our charges have been set with reference to estimates of the amount of specific types of expenses or risks that we will incur. In most cases, this prospectus identifies such expenses or risks in the name of the charge; however, the fact that any charge bears the name of, or is designed primarily to defray, a particular expense or risk does not mean that the amount we collect from that charge will never be more than the amount of such expense or risk. Nor does it mean that we may not also be compensated for such expense or risk out of any other charges we are permitted to deduct by the terms of the contract. MORTALITY AND EXPENSE RISKS CHARGE We deduct a daily charge from the net assets in each variable investment option to compensate us for mortality and expense risks, including the Standard minimum death benefit. The daily charge is equivalent to an annual rate of 0.75% of the net assets in each variable investment option. The mortality risk we assume is the risk that annuitants as a group will live for a longer time than our actuarial tables predict. If that happens, we would be paying more in annuity income than we planned. We also assume a risk that the mortality assumptions reflected in our guaranteed annuity payment tables, shown in each contract, will differ from actual mortality experience. Lastly, we assume a mortality risk to the extent that at the time of death, the guaranteed minimum death benefit exceeds the cash value of the contract. The expense risk we assume is the risk that our expenses in providing the benefits and administering the contracts will be greater than we expect. ADMINISTRATIVE CHARGE We deduct a daily charge from the net assets in each variable investment option to compensate us for administrative expenses under the contracts. The daily charge is equivalent to an annual rate of 0.30% of the net assets in each variable investment option. DISTRIBUTION CHARGE We deduct a daily charge from the net assets in each variable investment option to compensate us for a portion of our sales expenses under the contracts. The daily charge is equivalent to an annual rate of 0.20% of the net assets in each variable investment option. ANNUAL ADMINISTRATIVE CHARGE There is no annual administrative charge for your EQUI-VEST(SM) At Retirement(SM) contract. GUARANTEED MINIMUM DEATH BENEFIT CHARGE ANNUAL RATCHET TO AGE 85. If you elect the Annual Ratchet to age 85 enhanced death benefit, we deduct a charge annually from your account value on each contract date anniversary for which it is in effect. The charge is equal to 0.25% of the Annual Ratchet to age 85 benefit base. GREATER OF 6% ROLL-UP TO AGE 85 OR ANNUAL RATCHET TO AGE 85. If you elect this enhanced death benefit, we deduct a charge annually from your account value on each contract date anniversary for which it is in effect. The charge is equal to 0.60% of the greater of the 6% Roll-Up to age 85 or the Annual Ratchet to age 85 benefit base. We will deduct this charge from your value in the variable investment options and the guaranteed interest option on a pro rata basis (see Appendix V later in this prospectus to see if deducting this charge from the guaranteed interest option is permitted in your state). If those amounts are insufficient, we will deduct all or a portion of the charge from the fixed maturity options (if available) in the order of the earliest maturity date(s) first. If the contract is surrendered or annuitized or a death benefit is paid, on other than a contract date anniversary, we will deduct a pro rata portion of the charge for that year (please see the definition of "contract date anniversary" under "What is EQUI-VEST(SM) At Retirement(SM)?" on page 1). A market value adjustment will apply to deductions from the fixed maturity options. Charges and expenses 39 If your account value is insufficient to pay this charge, your contract will terminate without value and you will lose any applicable guaranteed benefits except as noted under "Insufficient account value" in "Determining your contract value" earlier in this prospectus. STANDARD DEATH BENEFIT. There is no additional charge for the standard death benefit. GUARANTEED MINIMUM INCOME BENEFIT CHARGE If you elect the Guaranteed minimum income benefit, we deduct a charge annually from your account value on each contract date anniversary until such time as you exercise the Guaranteed minimum income benefit, elect another annuity payout option, or the contract date anniversary after the annuitant reaches age 85, whichever occurs first. The charge is equal to 0.65% of the applicable benefit base in effect on the contract date anniversary. We will deduct this charge from your value in the variable investment options and the guaranteed interest option (see Appendix V later in this prospectus to see if deducting this charge from the guaranteed interest option is permitted in your state) on a pro rata basis. If those amounts are still insufficient, we will deduct all or a portion of the charge from the fixed maturity options in the order of the earliest maturity date(s) first. If the contract is surrendered or annuitized or a death benefit is paid on other than a contract date anniversary, we will deduct a pro rata portion of the charge for that year. A market value adjustment will apply to deductions from the fixed maturity options. If your account value is insufficient to pay this charge, your contract will terminate without value and you will lose any applicable guaranteed benefits except as noted under "Insufficient account value" in "Determining your contract value" earlier in this prospectus. CHARGES FOR STATE PREMIUM AND OTHER APPLICABLE TAXES We deduct a charge designed to approximate certain taxes that may be imposed on us, such as premium taxes in your state. Generally, we deduct the charge from the amount applied to provide an annuity payout option. The current tax charge that might be imposed varies by jurisdiction and ranges from 0% to 3.5%. VARIABLE IMMEDIATE ANNUITY ANNUITIZATION PAYOUT OPTION ADMINISTRATIVE FEE We deduct a fee of $350 from the amount to be applied to the Variable Immediate Annuity annuitization payout option. This option may not be available at the time you elect to annuitize or it may have a different charge. CHARGES THAT THE TRUSTS DEDUCT The Trusts deduct charges for the following types of fees and expenses: o Management fees ranging from 0.10% to 1.40%. o 12b-1 fees of 0.25%. o Operating expenses, such as trustees' fees, independent public accounting firms' fees, legal counsel fees, administrative service fees, custodian fees and liability insurance. o Investment-related expenses, such as brokerage commissions. These charges are reflected in the daily share price of each portfolio. Since shares of each Trust are purchased at their net asset value, these fees and expenses are, in effect, passed on to the variable investment options and are reflected in their unit values. Certain portfolios available under the contract in turn invest in shares of other portfolios of AXA Premier VIP Trust and EQ Advisors Trust (collectively, the "underlying portfolios"). The underlying portfolios each have their own fees and expenses, including management fees, operating expenses, and investment related expenses such as brokerage commissions. For more information about these charges, please refer to the prospectuses for the Trusts. GROUP OR SPONSORED ARRANGEMENTS For certain group or sponsored arrangements, we may reduce the mortality and expense risks charge or change the minimum initial contribution requirements. We also may change the Guaranteed minimum income benefit or the Guaranteed minimum death benefit, or offer variable investment options that invest in shares of the Trusts that are not subject to the 12b-1 fee. Group arrangements include those in which a trustee or an employer, for example, purchases contracts covering a group of individuals on a group basis. Group arrangements are not available for IRA and Roth IRA contracts. Sponsored arrangements include those in which an employer allows us to sell contracts to its employees or retirees on an individual basis. Our costs for sales, administration and mortality generally vary with the size and stability of the group or sponsoring organization, among other factors. We take all these factors into account when reducing charges. To qualify for reduced charges, a group or sponsored arrangement must meet certain requirements, such as requirements for size and number of years in existence. Group or sponsored arrangements that have been set up solely to buy contracts or that have been in existence less than six months will not qualify for reduced charges. We also may establish different rates to maturity for the fixed maturity options under different classes of contracts for group or sponsored arrangements. We will make these and any similar reductions according to our rules in effect when we approve a contract for issue. We may change these rules from time to time. Any variation will reflect differences in costs or services and will not be unfairly discriminatory. Group or sponsored arrangements may be governed by federal income tax rules, ERISA or both. We make no representations with regard to the impact of these and other applicable laws on such programs. We recommend that employers, trustees, and others purchasing or making contracts available for purchase under such programs seek the advice of their own legal and benefits advisers. OTHER DISTRIBUTION ARRANGEMENTS We may reduce or eliminate charges when sales are made in a manner that results in savings of sales and administrative expenses, such as sales through persons who are compensated by clients for recommending investments and who receive no commission or reduced commissions in connection with the sale of the contracts. We will not permit a reduction or elimination of charges where it would be unfairly discriminatory. 40 Charges and expenses 6. Payment of death benefit - -------------------------------------------------------------------------------- YOUR BENEFICIARY AND PAYMENT OF BENEFIT You designate your beneficiary when you apply for your contract. You may change your beneficiary at any time. The change will be effective as of the date the written request for the change is received in our processing office. We are not responsible for any beneficiary change request that we do not receive. We will send you a written confirmation when we receive your request. Under NQ jointly owned contracts, the surviving owner is considered the beneficiary, and will take the place of any other beneficiary. The death benefit is equal to your account value (without adjustment for any otherwise applicable negative market value adjustment) or, if greater, the applicable Guaranteed minimum death benefit. We determine the amount of the death benefit (other than the applicable Guaranteed minimum death benefit) as of the date we receive satisfactory proof of the annuitant's death, any required instructions for the method of payment, forms necessary to effect payment and any other information we may require. The amount of the applicable Guaranteed minimum death benefit will be such Guaranteed minimum death benefit as of the date of the annuitant's death adjusted for any subsequent withdrawals. For TSA contracts with outstanding loans, we will reduce the amount of the death benefit by the amount of the outstanding loan, including any accrued but unpaid interest on the date that the death benefit payment is made. EFFECT OF THE ANNUITANT'S DEATH If the annuitant dies before the annuity payments begin, we will pay the death benefit to your beneficiary. Generally, the death of the annuitant terminates the contract. However, a surviving spouse, who is the sole primary beneficiary, of a deceased owner/annuitant can choose to be treated as the successor owner/annuitant and continue the contract. The successor owner/ annuitant feature is only available under NQ and IRA contracts. The determination of spousal status is made under applicable state law; however, in the event of a conflict between federal and state law, we follow federal rules. For NQ, TSA and IRA contracts, a beneficiary may be able to have limited ownership as discussed under "Beneficiary continuation option" below. WHEN AN NQ CONTRACT OWNER DIES BEFORE THE ANNUITANT Under certain conditions the owner changes after the original owner's death for purposes of receiving required distributions from the contract. When you are not the annuitant under an NQ contract and you die before annuity payments begin, unless you specify otherwise, the beneficiary named to receive this death benefit upon the annuitant's death will become the successor owner. If you do not want this beneficiary to be the successor owner, you should name a specific successor owner. You may name a successor owner at any time during your life by sending satisfactory notice to our processing office. If the contract is jointly owned and the first owner to die is not the annuitant, the surviving owner becomes the sole contract owner. This person will be considered the successor owner for purposes of the distribution rules described in this section. The surviving owner automatically takes the place of any other beneficiary designation. You should carefully consider the following if you have elected the Guaranteed minimum income benefit and you are the owner, but not the annuitant. Because the payments under the Guaranteed minimum income benefit are based on the life of the annuitant, and the federal tax law required distributions described below are based on the life of the successor owner, a successor owner who is not also the annuitant may not be able to exercise the Guaranteed minimum income benefit, if you die before annuity payments begin. Therefore, one year before you become eligible to exercise the Guaranteed minimum income benefit, you should consider the effect of your beneficiary designations on potential payments after your death. For more information, see "Exercise rules," under "Guaranteed minimum income benefit option," in "Contract features and benefits" earlier in this prospectus. Unless the surviving spouse of the owner who has died (or in the case of a joint ownership situation, the surviving spouse of the first owner to die) is the successor owner for this purpose, the entire interest in the contract must be distributed under the following rules: o The cash value of the contract must be fully paid to the successor owner (new owner) within five years after your death (the "5-year rule"), or in a joint ownership situation, the death of the first owner to die. o The successor owner may instead elect to receive the cash value as a life annuity (or payments for a period certain of not longer than the successor owner's life expectancy). Payments must begin within one year after the non-annuitant owner's death. Unless this alternative is elected, we will pay any cash value five years after your death (or the death of the first owner to die). o A successor owner should consider naming a new beneficiary. If the surviving spouse is the successor owner or joint owner, the spouse may elect to continue the contract. No distributions are required as long as the surviving spouse and annuitant are living. An eligible successor owner, including a surviving joint owner after the first owner dies, may elect the beneficiary continuation option for NQ contracts discussed in "Beneficiary continuation option" below. The determination of spousal status is made under applicable state law; however, in the event of a conflict between federal and state law, we follow federal rules. SUCCESSOR OWNER AND ANNUITANT If you are both the contract owner and the annuitant, and your spouse is the sole primary beneficiary or the joint owner, then your spouse may elect to receive the death benefit or continue the contract as successor Payment of death benefit 41 owner/annuitant. The successor owner/annuitant must be age 85 or younger as of the date of the non-surviving spouse's death. If your surviving spouse decides to continue the contract, then as of the date we receive satisfactory proof of your death, any required instructions, information and forms necessary to effect the Successor owner/annuitant feature, we will increase the account value to equal your elected Guaranteed minimum death benefit as of the date of your death if such death benefit is greater than such account value, adjusted for any subsequent withdrawals. The increase in the account value will be allocated to the investment options according to the allocation percentages we have on file for your contract. We will determine whether your applicable Guaranteed minimum death benefit option will continue as follows: o If the successor owner/annuitant is age 75 or younger on the date of the original owner/annuitant's death, and the original owner/ annuitant was age 84 or younger at death, the guaranteed minimum death benefit continues based upon the option that was elected by the original owner/annuitant and will continue to grow according to its terms until the contract date anniversary following the date the successor owner/annuitant reaches age 85. o If the successor owner/annuitant is age 75 or younger on the date of the original owner/annuitant's death, and the original owner/ annuitant was age 85 or older at death, we will reinstate the Guaranteed minimum death benefit that was elected by the original owner/annuitant. The benefit will continue to grow according to its terms until the contract date anniversary following the date the successor owner/annuitant reaches age 85. o If the successor owner/annuitant is age 76 or over on the date of the original owner/annuitant's death, the Guaranteed minimum death benefit will no longer grow, and we will no longer charge for the benefit. For information on the operation of the successor owner/annuitant feature with the Guaranteed minimum income benefit, see "Exercise of Guaranteed minimum income benefit" under "Guaranteed minimum income benefit option" in "Contract features and benefits," earlier in this prospectus. SPOUSAL PROTECTION SPOUSAL PROTECTION OPTION FOR NQ CONTRACTS ONLY. This feature permits spouses who are joint contract owners to increase the account value to equal the guaranteed minimum death benefit, if higher, upon the death of either spouse. This account value "step up" occurs even if the surviving spouse was the named annuitant. If you and your spouse jointly own the contract and one of you is the named annuitant, you may elect the Spousal protection option at the time you purchase your contract at no additional charge. Both spouses must be between the ages of 55 and 70 at the time the contract is issued and must each be named the primary beneficiary in the event of the other's death. The annuitant's age is generally used for the purpose of determining contract benefits. However, for the Annual Ratchet to age 85 and the Greater of 6% Roll-Up to age 85 or the Annual Ratchet to age 85 guaranteed minimum death benefits, the benefit is based on the older spouse's age. The older spouse may or may not be the annuitant. However, for purposes of the Guaranteed minimum death benefit/ guaranteed minimum income benefit roll-up benefit base reset option, the last age at which the benefit base may be reset is based on the annuitant's age, not the older spouse's age. If the annuitant dies prior to annuitization, the surviving spouse may elect to receive the death benefit, or, if eligible, continue the contract as the sole owner/annuitant by electing the successor owner/ annuitant option. If the non-annuitant spouse dies prior to annuitization, the surviving spouse continues the contract automatically as the sole owner/annuitant. In either case, the contract would continue, as follows: o As of the date we receive due proof of the spouse's death, the account value will be reset to equal the Guaranteed minimum death benefit as of the date of the non-surviving spouse's death, if higher. o The Guaranteed minimum death benefit continues to be based on the older spouse's age for the life of the contract, even if the younger spouse is originally or becomes the sole owner/annuitant. o The Guaranteed minimum income benefit may continue if the benefit had not already terminated and the benefit will be based on the successor owner/annuitant, if applicable. See "Guaranteed minimum income benefit" in "Contract features and benefits" earlier in this prospectus. We will not allow Spousal protection to be added after contract issue. If there is a change in owner or primary beneficiary, the Spousal protection benefit will be terminated. If you divorce but do not change the owner or primary beneficiary, Spousal protection continues. BENEFICIARY CONTINUATION OPTION This feature permits a designated individual, on the contract owner's death, to maintain a contract in the deceased contract owner's name and receive distributions under the contract, instead of receiving the death benefit in a single sum. We make this option available to beneficiaries under traditional IRA, Roth IRA, TSA and NQ contracts. BENEFICIARY CONTINUATION OPTION FOR TRADITIONAL IRA, ROTH IRA AND TSA CONTRACTS ONLY. The beneficiary continuation option must be elected by September 30th of the year following the calendar year of your death and before any other inconsistent election is made. Beneficiaries who do not make a timely election will not be eligible for this option. If the election is made, then, as of the date we receive satisfactory proof of death, any required instructions, information and forms necessary to effect the beneficiary continuation option feature, we will increase the account value to equal the applicable death benefit if such death benefit is greater than such account value adjusted for any subsequent withdrawals. Generally, payments will be made once a year to the beneficiary over the beneficiary's life expectancy (determined in the calendar year after your death and determined on a term certain basis). These payments must begin no later than December 31st of the calendar year after the year of your death. For sole spousal beneficiaries, payments may begin by December 31st of the calendar year in which you would have reached age 70-1/2, if such time is later. For traditional IRA and TSA contracts, if you die before your Required Beginning Date for Required 42 Payment of death benefit Minimum Distributions, as discussed later in this prospectus in "Tax information" under "Individual retirement arrangements (IRAs)," the beneficiary may choose the "5-year rule" option instead of annual payments over life expectancy. The 5-year rule is always available to beneficiaries under Roth IRA contracts. If the beneficiary chooses this option, the beneficiary may take withdrawals as desired, but the entire account value must be fully withdrawn by December 31st of the calendar year which contains the fifth anniversary of your death. Under the beneficiary continuation option for IRA, Roth IRA, and TSA contracts: o The contract continues with your name on it for the benefit of your beneficiary. o This feature is only available if the beneficiary is an individual. Certain trusts with only individual beneficiaries will be treated as individuals for this purpose. o If there is more than one beneficiary, each beneficiary's share will be separately accounted for. It will be distributed over the beneficiary's own life expectancy, if payments over life expectancy are chosen. o The minimum amount that is required in order to elect the beneficiary continuation option is $5,000 for each beneficiary. o The beneficiary may make transfers among the investment options but no subsequent contributions will be permitted. o If you had elected the Guaranteed minimum income benefit or an optional enhanced death benefit, they will no longer be in effect and charges for such benefits will stop. Also, any Guaranteed minimum death benefit feature will no longer be in effect. o Loans will no longer be available for TSA contracts. o The beneficiary may choose at any time to withdraw all or a portion of the account value. o Any partial withdrawal must be at least $300. o Your beneficiary will have the right to name a beneficiary to receive any remaining interest in the contract. o Upon the death of your beneficiary, the beneficiary he or she has named has the option to either continue taking required minimum distributions based on the remaining life expectancy of the deceased beneficiary or to receive any remaining interest in the contract in a lump sum. The option elected will be processed when we receive satisfactory proof of death, any required instructions for the method of payment and any required information and forms necessary to effect payment. BENEFICIARY CONTINUATION OPTION FOR NQ CONTRACTS ONLY. This feature, also known as Inherited annuity, may only be elected when the NQ contract owner dies before the annuity maturity date, whether or not the owner and the annuitant are the same person. For purposes of this discussion, "beneficiary" refers to the successor owner. This feature must be elected within 9 months following the date of your death and before any other inconsistent election is made. Beneficiaries who do not make a timely election will not be eligible for this option. Generally, payments will be made once a year to the beneficiary over the beneficiary's life expectancy, determined on a term certain basis and in the year payments start. These payments must begin no later than one year after the date of your death and are referred to as "scheduled payments." The beneficiary may choose the "5-year rule" instead of scheduled payments over life expectancy. If the beneficiary chooses the 5-year rule, there will be no scheduled payments. Under the 5-year rule, the beneficiary may take withdrawals as desired, but the entire account value must be fully withdrawn by the fifth anniversary of your death. Under the beneficiary continuation option for NQ contracts: o This feature is only available if the beneficiary is an individual. It is not available for any entity such as a trust, even if all of the beneficiaries of the trust are individuals. o The contract continues with your name on it for the benefit of your beneficiary. o If there is more than one beneficiary, each beneficiary's share will be separately accounted for. It will be distributed over the respective beneficiary's own life expectancy, if scheduled payments are chosen. o The minimum amount that is required in order to elect the beneficiary continuation option is $5,000 for each beneficiary. o The beneficiary may make transfers among the investment options but no subsequent contributions will be permitted. o If you had elected the Guaranteed minimum income benefit or an optional enhanced death benefit, they will no longer be in effect and charges for such benefits will stop. Also, any Guaranteed minimum death benefit feature will no longer be in effect. o If the beneficiary chooses the "5-year rule," withdrawals may be made at any time. If the beneficiary instead chooses scheduled payments, the beneficiary must also choose between two potential withdrawal options at the time of election. If the beneficiary chooses "Withdrawal Option 1", the beneficiary cannot later withdraw funds in addition to the scheduled payments the beneficiary is receiving; "Withdrawal Option 1" permits total surrender only. "Withdrawal Option 2" permits the beneficiary to take withdrawals, in addition to scheduled payments, at any time. However, the scheduled payments under "Withdrawal Option 1" are afforded favorable tax treatment as "annuity payments." See "Taxation of nonqualified annuities" in "Tax Information" later in this prospectus. o Any partial withdrawals must be at least $300. o Your beneficiary will have the right to name a beneficiary to receive any remaining interest in the contract on the beneficiary's death. o Upon the death of your beneficiary, the beneficiary he or she has named has the option to either continue taking scheduled payments based on the remaining life expectancy of the deceased beneficiary (if scheduled payments were chosen) or to receive any remaining interest in the contract in a lump sum. We will pay any remaining interest in the contract in a lump sum if your beneficiary elects the 5-year rule. The option elected will be processed when we Payment of death benefit 43 receive satisfactory proof of death, any required instructions for the method of payment and any required information and forms necessary to effect payment. If you are both the owner and annuitant: o As of the date we receive satisfactory proof of death, any required instructions, information and forms necessary to effect the beneficiary continuation option feature, we will increase the annuity account value to equal the applicable death benefit if such death benefit is greater than such account value, adjusted for any subsequent withdrawals. If the owner and annuitant are not the same person: o If the beneficiary continuation option is elected, the beneficiary automatically becomes the new annuitant of the contract, replacing the existing annuitant. o The annuity account value will not be reset to the death benefit amount. If a contract is jointly owned: o The surviving owner supersedes any other named beneficiary and may elect the beneficiary continuation option. o If the deceased joint owner was also the annuitant, see "If you are both the owner and annuitant" earlier in this section. o If the deceased joint owner was not the annuitant, see "If the owner and annuitant are not the same person" earlier in this section. 44 Payment of death benefit 7. Tax information - -------------------------------------------------------------------------------- OVERVIEW In this part of the prospectus, we discuss the current federal income tax rules that generally apply to EQUI-VEST(SM) At Retirement(SM) contracts owned by United States individual taxpayers. The tax rules can differ, depending on the type of contract, whether NQ, traditional IRA, Roth IRA or TSA. Therefore, we discuss the tax aspects of each type of contract separately. Federal income tax rules include the United States laws in the Internal Revenue Code, and Treasury Department Regulations and Internal Revenue Service ("IRS") interpretations of the Internal Revenue Code. These tax rules may change without notice. We cannot predict whether, when, or how these rules could change. Any change could affect contracts purchased before the change. Congress may also consider proposals in the future to comprehensively reform or overhaul the United States tax and retirement systems, which if enacted, could affect the tax benefits of a contract. We cannot predict what, if any, legislation will actually be proposed or enacted. We cannot provide detailed information on all tax aspects of the contracts. Moreover, the tax aspects that apply to a particular person's contract may vary depending on the facts applicable to that person. We do not discuss state income and other state taxes, federal income tax, and withholding rules for non-U.S. taxpayers, or federal gift and estate taxes. Transfers of the contract, rights or values under the contract, or payments under the contract, for example, the amounts due to beneficiaries, may be subject to federal or state gift, estate, or inheritance taxes. You should not rely only on this document, but should consult your tax adviser before your purchase. BUYING A CONTRACT TO FUND A RETIREMENT ARRANGEMENT Generally, there are two types of funding vehicles that are available for Individual Retirement Arrangements ("IRAs"): an individual retirement annuity contract such as the ones offered in this Prospectus, or a custodial or trusteed individual retirement account. Similarly, a 403(b) plan can be funded through a 403(b) annuity contract or a 403(b)(7) custodial account. How these arrangements work, including special rules applicable to each, are described in the specific sections for each type of arrangement, below. You should be aware that the funding vehicle for a tax-qualified arrangement does not provide any tax deferral benefit beyond that already provided by the Code for all permissible funding vehicles. Before choosing an annuity contract, therefore, you should consider the annuity's features and benefits, such as EQUI-VEST(SM) At Retirement(SM)'s choice of death benefits, the Guaranteed minimum income benefit, selection of variable investment options, guaranteed interest option, fixed maturity options and its choices of pay-out options, as well as the features and benefits of other permissible funding vehicles and the relative costs of annuities and other arrangements. You should be aware that cost may vary depending on the features and benefits made available and the charges and expenses of the portfolios that you elect. Certain provisions of the Treasury Regulations on required minimum distributions concerning the actuarial present value of additional contract benefits could increase the amount required to be distributed from annuity contracts funding 403(b) plans and IRAs. For this purpose additional annuity contract benefits may include, but are not limited to, guaranteed minimum income benefits and enhanced death benefits. You should consider the potential implication of these Regulations before you purchase this annuity contract or purchase additional features under this annuity contract. TRANSFERS AMONG INVESTMENT OPTIONS You can make transfers among investment options inside the contract without triggering taxable income. TAXATION OF NONQUALIFIED ANNUITIES CONTRIBUTIONS You may not deduct the amount of your contributions to a nonqualified annuity contract. CONTRACT EARNINGS Generally, you are not taxed on contract earnings until you receive a distribution from your contract, whether as a withdrawal or as an annuity payment. However, earnings are taxable, even without a distribution: o if a contract fails investment diversification requirements as specified in federal income tax rules (these rules are based on or are similar to those specified for mutual funds under the securities laws); o if you transfer a contract, for example, as a gift to someone other than your spouse (or former spouse); o if you use a contract as security for a loan (in this case, the amount pledged will be treated as a distribution); and o if the owner is other than an individual (such as a corporation, partnership, trust, or other non-natural person). This provision does not apply to a trust which is a mere agent or nominee for an individual, such as a grantor trust. All nonqualified deferred annuity contracts that AXA Equitable and its affiliates issue to you during the same calendar year are linked together and treated as one contract for calculating the taxable amount of any distribution from any of those contracts. ANNUITY PAYMENTS GMIB and other annuitization payments that are based on life or life expectancy are considered annuity payments for tax purposes. Once Tax information 45 annuity payments begin, a portion of each payment is taxable as ordinary income. You get back the remaining portion without paying taxes on it. This is your unrecovered investment in the contract. Generally, your investment in the contract equals the contributions you made, less any amounts you previously withdrew that were not taxable. For fixed annuity payments, the tax-free portion of each payment is determined by (1) dividing your investment in the contract by the total amount you are expected to receive out of the contract, and (2) multiplying the result by the amount of the payment. For variable annuity payments, your tax-free portion of each payment is your investment in the contract divided by the number of expected payments. In order to get annuity payment tax treatment described here, all amounts under the contract must be applied to an annuity payout option; we do not "partially annuitize" nonqualified deferred annuity contracts. Once you have received the amount of your investment in the contract, all payments after that are fully taxable. If payments under a life annuity stop because the annuitant dies, there is an income tax deduction for any unrecovered investment in the contract. PAYMENTS MADE BEFORE ANNUITY PAYMENTS BEGIN If you make withdrawals before annuity payments begin under your contract, they are taxable to you as ordinary income if there are earnings in the contract. Generally, earnings are your account value less your investment in the contract. If you withdraw an amount which is more than the earnings in the contract as of the date of the withdrawal, the balance of the distribution is treated as a return of your investment in the contract and is not taxable. CONTRACTS PURCHASED THROUGH EXCHANGES The sole way to purchase an EQUI-VEST(SM) At Retirement(SM) NQ contract is through a transfer of funds from the original EQUI-VEST(SM) contract which is the source contract. Normally, exchanges of contracts are taxable events. The transfer will be a tax deferred exchange under Section 1035 of the Internal Revenue Code if: o The contract that is the source of the funds you are using to purchase the NQ contract is another nonqualified deferred annuity contract. o The owner and the annuitant are the same under the original EQUI-VEST(SM) contract and the EQUI-VEST(SM) At Retirement(SM) NQ contract. The tax basis, also referred to as your investment in the contract, of the original EQUI-VEST(SM) contract carries over to the EQUI-VEST(SM) At Retirement(SM) NQ contract. Section 1035 exchanges are generally not available after the death of the owner, or annuitant, as applicable. Partial 1035 exchanges are not available to purchase an EQUI-VEST(SM) At Retirement(SM) contract. SURRENDERS If you surrender or cancel the contract, the distribution is taxable as ordinary income (not capital gain) to the extent it exceeds your investment in the contract. DEATH BENEFIT PAYMENTS MADE TO A BENEFICIARY AFTER YOUR DEATH For the rules applicable to death benefits, see "Payment of death benefit" earlier in this prospectus. The tax treatment of a death benefit taken as a single sum is generally the same as the tax treatment of a withdrawal from or surrender of your contract. The tax treatment of a death benefit taken as annuity payments is generally the same as the tax treatment of annuity payments under your contract. BENEFICIARY CONTINUATION OPTION We have received a private letter ruling from the IRS regarding certain tax consequences of scheduled payments under the beneficiary continuation option for a prior similar version of the NQ contract. See the discussion "Beneficiary continuation option for NQ Contracts only" in "Payment of death benefit" earlier in this prospectus. Among other things, the IRS rules that: o scheduled payments under the beneficiary continuation option for NQ contracts satisfy the death of owner rules of Section 72(s)(2) of the Code, regardless of whether the beneficiary elects "Withdrawal Option 1" or "Withdrawal Option 2"; o scheduled payments, any additional withdrawals under "Withdrawal Option 2", or contract surrenders under "Withdrawal Option 1" will only be taxable to the beneficiary when amounts are actually paid, regardless of the Withdrawal Option selected by the beneficiary; o a beneficiary who irrevocably elects scheduled payments with "Withdrawal Option 1" will receive "excludable amount" tax treatment on scheduled payments. See "Annuity payments" earlier in this section. If the beneficiary elects to surrender the contract before all scheduled payments are paid, the amount received upon surrender is a non-annuity payment taxable to the extent it exceeds any remaining investment in the contract. The ruling specifically does not address the taxation of any payments received by a beneficiary electing "Withdrawal Option 2" (whether scheduled payments or any withdrawal that might be taken). The tax treatment of a withdrawal after the death of the owner taken as a single sum or taken as withdrawals under the 5-year rule is generally the same as the tax treatment of a withdrawal from or surrender of your contract. EARLY DISTRIBUTION PENALTY TAX If you take distributions before you are age 59-1/2 a penalty tax of 10% of the taxable portion of your distribution applies in addition to the income tax. Some of the available exceptions to the pre-age 59-1/2 penalty tax include distributions made: o on or after your death; or o because you are disabled (special federal income tax definition); or o in the form of substantially equal periodic annuity payments for your life (or life expectancy), or the joint lives (or joint life expectancy) of you and a beneficiary, in accordance with IRS formulas. 46 Tax information INVESTOR CONTROL ISSUES Under certain circumstances, the IRS has stated that you could be treated as the owner (for tax purposes) of the assets of Separate Account A. If you were treated as the owner, you would be taxed on income and gains attributable to the shares of the underlying portfolios. The circumstances that would lead to this tax treatment would be that, in the opinion of the IRS, you could control the underlying investment of Separate Account A. The IRS has said that the owners of variable annuities will not be treated as owning the separate account assets provided the underlying portfolios are restricted to variable life and annuity assets. The variable annuity owners must have the right only to choose among the portfolios, and must have no right to direct the particular investment decisions within the portfolios. Although we believe that, under current IRS guidance, you would not be treated as the owner of the assets of Separate Account A, there are some issues that remain unclear. For example, the IRS has not issued any guidance as to whether having a larger number of portfolios available, or an unlimited right to transfer among them, could cause you to be treated as the owner. We do not know whether the IRS will ever provide such guidance or whether such guidance, if unfavorable, would apply retroactively to your contract. Furthermore, the IRS could reverse its current guidance at any time. We reserve the right to modify your contract as necessary to prevent you from being treated as the owner of the assets of Separate Account A. INDIVIDUAL RETIREMENT ARRANGEMENTS (IRAS) GENERAL "IRA" stands for individual retirement arrangement. There are two basic types of such arrangements, individual retirement accounts and individual retirement annuities. In an individual retirement account, a trustee or custodian holds the assets for the benefit of the IRA owner. The assets funding the account typically include mutual funds and/or individual stocks and/or securities in a custodial account and bank certificates of deposit in a trusteed account. In an individual retirement annuity, an insurance company issues an annuity contract that serves as the IRA. There are two basic types of IRAs, as follows: o Traditional IRAs, typically funded on a pre-tax basis, including SEP-IRAs and SIMPLE IRAs issued and funded in connection with employer-sponsored retirement plans; and o Roth IRAs, funded on an after-tax basis. Regardless of the type of IRA, your ownership interest in the IRA cannot be forfeited. You or your beneficiaries who survive you are the only ones who can receive the IRA's benefits or payments. All types of IRAs qualify for tax deferral regardless of the funding vehicle selected. You can hold your IRA assets in as many different accounts and annuities as you would like, as long as you meet the rules for setting up and making contributions to IRAs. However, if you own multiple IRAs, you may be required to combine IRA values or contributions for tax purposes. For further information about individual retirement arrangements, you can read Internal Revenue Service Publication 590 ("Individual Retirement Arrangements (IRAs)"). This publication is usually updated annually, and can be obtained from any IRS district office or the IRS website (www.irs.gov). AXA Equitable designs its IRA contracts to qualify as individual retirement annuities under Section 408(b) of the Internal Revenue Code. You may purchase the contract as a traditional IRA or Roth IRA. This prospectus contains the information that the IRS requires you to have before you purchase an IRA. The first section covers some of the special tax rules that apply to traditional IRAs. The next section covers Roth IRAs. We describe the amount and types of charges that may apply to your contributions under "Charges and expenses" earlier in this prospectus. We describe the method of calculating payments under "Accessing your money" earlier in this prospectus. We do not guarantee or project growth in any variable income annuitization option payments (as opposed to payments from a fixed income annuitization option). We have not applied for an opinion letter from the IRS to approve the respective forms of the EQUI-VEST(SM) At Retirement(SM) traditional and Roth IRA contracts for use as a traditional and Roth IRA, respectively. Such IRS approval is a determination only as to the form of the annuity and does not represent a determination of the merits of the annuity as an investment. YOUR RIGHT TO CANCEL WITHIN A CERTAIN NUMBER OF DAYS You can cancel any version of the EQUI-VEST(SM) At Retirement(SM) IRA contract (traditional IRA or Roth IRA) by following the directions in "Your right to cancel within a certain number of days" under "Contract features and benefits" earlier in this prospectus. If you cancel a traditional IRA contract, we may have to withhold tax, and we must report the transaction to the IRS. A contract cancellation could have an unfavorable tax impact. TRADITIONAL INDIVIDUAL RETIREMENT ANNUITIES (TRADITIONAL IRAS) CONTRIBUTIONS TO TRADITIONAL IRAS. Generally, individuals may make three different types of contributions to purchase a traditional IRA or as subsequent contributions to an existing IRA: o "regular" contributions out of earned income or compensation; or o tax-free "rollover" contributions; or o direct custodian-to-custodian transfers from other traditional IRAs ("direct transfers"). This IRA may be funded through direct transfer of funds only and not through regular or rollover contributions. WITHDRAWALS, PAYMENTS AND TRANSFERS OF FUNDS OUT OF TRADITIONAL IRAS NO FEDERAL INCOME TAX LAW RESTRICTIONS ON WITHDRAWALS. You can withdraw any or all of your funds from a traditional IRA at any time. You do not need to wait for a special event like retirement. TAXATION OF PAYMENTS. Earnings in traditional IRAs are not subject to federal income tax until you or your beneficiary receive them. Taxable payments or distributions include withdrawals from your contract, surrender of your contract and annuity payments from your contract. Death benefits are also taxable. Tax information 47 Except as discussed below, the total amount of any distribution from a traditional IRA must be included in your gross income as ordinary income. We report all payments from traditional IRA contracts on IRS Form 1099-R as fully taxable. If you have ever made nondeductible IRA contributions to any traditional IRA (it does not have to be to this particular traditional IRA contract), those contributions are recovered tax free when you get distributions from any traditional IRA. It is your responsibility to keep permanent tax records of all of your nondeductible contributions to traditional IRAs so that you can correctly report the taxable amount of any distribution on your own tax return. At the end of any year in which you have received a distribution from any traditional IRA, you calculate the ratio of your total nondeductible traditional IRA contributions (less any amounts previously withdrawn tax free) to the total account balances of all traditional IRAs you own at the end of the year plus all traditional IRA distributions made during the year. Multiply this by all distributions from the traditional IRA during the year to determine the nontaxable portion of each distribution. A distribution from a traditional IRA is not taxable if: o the amount received is a withdrawal of excess contributions, under technical income tax rules; or o the entire amount received is rolled over to another traditional IRA or other eligible retirement plan which agrees to accept the funds. ROLLOVERS FROM TRADITIONAL IRAS TO TRADITIONAL IRAS You may roll over amounts from one traditional IRA to one or more of your other traditional IRAs if you complete the transaction within 60 days after you receive the funds. You may make such a rollover only once in every 12-month period for the same funds. Trustee-to-trustee or custodian-to-custodian direct transfers are not rollover transactions. You can make these more frequently than once in every 12-month period. SPOUSAL ROLLOVER AND DIVORCE-RELATED DIRECT TRANSFERS The surviving spouse beneficiary of a deceased individual can roll over funds from, or directly transfer funds from, an inherited traditional IRA to one or more other traditional IRAs. Also, in some cases, traditional IRAs can be transferred on a tax-free basis between spouses or former spouses as a result of a court ordered divorce or separation decree. ROLLOVERS TO ELIGIBLE RETIREMENT PLANS The following are eligible to receive rollovers of distributions from a traditional IRA: a qualified plan, a 403(b) plan or a governmental employer 457(b) plan. After-tax contributions in a traditional IRA cannot be rolled from your traditional IRA into, or back into, a qualified plan, TSA or governmental employer 457(b) plan. Before you decide to roll over a distribution from a traditional IRA to another eligible retirement plan, you should check with the administrator of that plan about whether the plan accepts rollovers and, if so, the types it accepts. You should also check with the administrator of the receiving plan about any documents required to be completed before it will accept a rollover. Distributions from a traditional IRA are not eligible for favorable ten-year averaging and long-term capital gain treatment available under limited circumstances for certain distributions from qualified plans. If you might be eligible for such tax treatment from your qualified plan, you may be able to preserve such tax treatment even though an eligible rollover from a qualified plan is temporarily rolled into a "conduit IRA" before being rolled back into a qualified plan. See your tax adviser. REQUIRED MINIMUM DISTRIBUTIONS BACKGROUND ON REGULATIONS -- REQUIRED MINIMUM DISTRIBUTIONS Distributions must be made from traditional IRAs according to rules contained in the Code and Treasury Regulations. Certain provisions of the Treasury Regulations require that the actuarial present value of additional annuity contract benefits must be added to the dollar amount credited for purposes of calculating certain types of required minimum distributions from individual retirement annuity contracts. For this purpose additional annuity contract benefits may include, but are not limited to, guaranteed minimum income benefits and enhanced death benefits. This could increase the amount required to be distributed from these contracts if you take annual withdrawals instead of annuitizing. Please consult your tax adviser concerning applicability of these complex rules to your situation. LIFETIME REQUIRED MINIMUM DISTRIBUTIONS. You must start taking annual distributions from your traditional IRAs for the year in which you turn age 70-1/2. WHEN YOU HAVE TO TAKE THE FIRST LIFETIME REQUIRED MINIMUM DISTRIBUTION. The first required minimum distribution is for the calendar year in which you turn age 70-1/2. You have the choice to take this first required minimum distribution during the calendar year you actually reach age 70-1/2, or to delay taking it until the first three-month period in the next calendar year (January 1 - April 1). Distributions must start no later than your "Required Beginning Date," which is April 1st of the calendar year after the calendar year in which you turn age 70-1/2. If you choose to delay taking the first annual minimum distribution, then you will have to take two minimum distributions in that year--the delayed one for the first year and the one actually for that year. Once minimum distributions begin, they must be made at some time each year. HOW YOU CAN CALCULATE REQUIRED MINIMUM DISTRIBUTIONS. There are two approaches to taking required minimum distributions -- "account-based" or "annuity-based." ACCOUNT-BASED METHOD. If you choose an account-based method, you divide the value of your traditional IRA as of December 31st of the past calendar year by a number corresponding to your age from an IRS table. This gives you the required minimum distribution amount for that particular IRA for that year. If your spouse is your sole beneficiary and more than 10 years younger than you, the dividing number you use may be from another IRS table and may produce a smaller lifetime required minimum distribution amount. Regardless of the table used, the required minimum distribution amount will vary each year as the account value, the actuarial present value of additional annuity contract benefits, if applicable, and the divisor change. If you initially 48 Tax information choose an account-based method, you may later apply your traditional IRA funds to a life annuity-based payout with any certain period not exceeding remaining life expectancy, determined in accordance with IRS tables. ANNUITY-BASED METHOD. If you choose an annuity-based method, you do not have to do annual calculations. You apply the account value to an annuity payout for your life or the joint lives of you and a designated beneficiary or for a period certain not extending beyond applicable life expectancies, determined in accordance with IRS tables. DO YOU HAVE TO PICK THE SAME METHOD TO CALCULATE YOUR REQUIRED MINIMUM DISTRIBUTIONS FOR ALL OF YOUR TRADITIONAL IRAS AND OTHER RETIREMENT PLANS? No. If you want, you can choose a different method for each of your traditional IRAs and other retirement plans. For example, you can choose an annuity payout from one IRA, a different annuity payout from a qualified plan and an account-based annual withdrawal from another IRA. WILL WE PAY YOU THE ANNUAL AMOUNT EVERY YEAR FROM YOUR TRADITIONAL IRA BASED ON THE METHOD YOU CHOOSE? We will only pay you automatically if you affirmatively select an annuity payout option or an account-based withdrawal option such as our "required minimum distribution (RMD) automatic withdrawal option." Even if you do not enroll in our service, we will calculate the amount of the required minimum distribution withdrawal for you, if you so request in writing. However, in that case you will be responsible for asking us to pay the required minimum distribution withdrawal to you. Also, the IRS will let you calculate the required minimum distribution for each traditional IRA that you maintain, using the method that you picked for that particular IRA. You can add these required minimum distribution amount calculations together. As long as the total amount you take out every year satisfies your overall traditional IRA required minimum distribution amount, you may choose to take your annual required minimum distribution from any one or more traditional IRAs that you own. WHAT IF YOU TAKE MORE THAN YOU NEED TO FOR ANY YEAR? The required minimum distribution amount for your traditional IRAs is calculated on a year-by-year basis. There are no carry-back or carry-forward provisions. Also, you cannot apply required minimum distribution amounts you take from your qualified plans to the amounts you have to take from your traditional IRAs and vice versa. WHAT IF YOU TAKE LESS THAN YOU NEED TO FOR ANY YEAR? Your IRA could be disqualified, and you could have to pay tax on the entire value. Even if your IRA is not disqualified, you could have to pay a 50% penalty tax on the shortfall (required amount for traditional IRAs less amount actually taken). It is your responsibility to meet the required minimum distribution rules. We will remind you when our records show that you are within the age group which must take lifetime required minimum distributions. If you do not select a method with us, we will assume you are taking your required minimum distribution from another traditional IRA that you own. WHAT ARE THE REQUIRED MINIMUM DISTRIBUTION PAYMENTS AFTER YOU DIE? These could vary depending on whether you die before or after your Required Beginning Date for lifetime required minimum distribution payments, and the status of your beneficiary. The following assumes that you have not yet elected an annuity-based payout at the time of your death. If you elect an annuity-based payout, payments (if any) after your death must be made at least as rapidly as when you were alive. INDIVIDUAL BENEFICIARY. Regardless of whether your death occurs before or after your Required Beginning Date, an individual death beneficiary calculates annual post-death required minimum distribution payments based on the beneficiary's life expectancy using the "term certain method." That is, he or she determines his or her life expectancy using the IRS-provided life expectancy tables as of the calendar year after the owner's death and reduces that number by one each subsequent year. If you die before your Required Beginning Date, the rules permit any individual beneficiary, including a spousal beneficiary, to elect instead to apply the "5-year rule." Under this rule, instead of annual payments having to be made beginning with the first in the year following the owner's death, the entire account must be distributed by the end of the calendar year which contains the fifth anniversary of the owner's death. No distribution is required before that fifth year. SPOUSAL BENEFICIARY. If you die after your Required Beginning Date, and your death beneficiary is your surviving spouse, your spouse has a number of choices. Post-death distributions may be made over your spouse's single life expectancy. Any amounts distributed after that surviving spouse's death are made over the spouse's life expectancy calculated in the year of his/her death, reduced by one for each subsequent year. In some circumstances, your surviving spouse may elect to become the owner of the traditional IRA and halt distributions until he or she reaches age 70-1/2, or roll over amounts from your traditional IRA into his/her own traditional IRA or other eligible retirement plan. If you die before your Required Beginning Date, and the death beneficiary is your surviving spouse, the rules permit the spouse to delay starting payments over his/her life expectancy until the year in which you would have attained age 70-1/2. NON-INDIVIDUAL BENEFICIARY. If you die after your Required Beginning Date, and your death beneficiary is a non-individual, such as the estate, the rules permit the beneficiary to calculate post-death required minimum distribution amounts based on the owner's life expectancy in the year of death. However, note that we need an individual annuitant to keep an annuity contract in force. If the beneficiary is not an individual, we must distribute amounts remaining in the annuity contract after the death of the annuitant. If you die before your Required Beginning Date for lifetime required minimum distribution payments, and the death beneficiary is a non-individual, such as the estate, the rules continue to apply the 5-year rule discussed earlier under "Individual beneficiary." Please note that we need an individual annuitant to keep an annuity contract in force. If the beneficiary is not an individual, we must distribute amounts remaining in the annuity contract after the death of the annuitant. SUCCESSOR OWNER AND ANNUITANT If your spouse is the sole primary beneficiary and elects to become the successor owner and annuitant, no death benefit is payable until your Tax information 49 surviving spouse's death. The required minimum distribution rules are applied as if your surviving spouse is the contract owner. PAYMENTS TO A BENEFICIARY AFTER YOUR DEATH IRA death benefits are taxed the same as IRA distributions. BORROWING AND LOANS ARE PROHIBITED TRANSACTIONS You cannot get loans from a traditional IRA. You cannot use a traditional IRA as collateral for a loan or other obligation. If you borrow against your IRA or use it as collateral, its tax-favored status will be lost as of the first day of the tax year in which this prohibited event occurs. If this happens, you must include the value of the traditional IRA in your federal gross income. Also, the early distribution penalty tax of 10% may apply if you have not reached age 59-1/2 before the first day of that tax year. EARLY DISTRIBUTION PENALTY TAX A penalty tax of 10% of the taxable portion of a distribution applies to distributions from a traditional IRA made before you reach age 59-1/2. Some of the available exceptions to the pre-age 59-1/2 penalty tax include distributions made: o on or after your death; or o because you are disabled (special federal income tax definition); or o used to pay certain extraordinary medical expenses (special federal income tax definition); or o used to pay medical insurance premiums for unemployed individuals (special federal income tax definition); or o used to pay certain first-time home buyer expenses (special federal income tax definition; $10,000 lifetime total limit for these distributions from all your traditional and Roth IRAs); or o used to pay certain higher education expenses (special federal income tax definition); or o in the form of substantially equal periodic payments made at least annually over your life (or your life expectancy) or over the joint lives of you and your beneficiary (or your joint life expectancies using an IRS-approved distribution method). ROTH INDIVIDUAL RETIREMENT ANNUITIES (ROTH IRAS) This section of the prospectus covers some of the special tax rules that apply to Roth IRAs. If the rules are the same as those that apply to the traditional IRA, we will refer you to the same topic under "traditional IRAs." The EQUI-VEST(SM) At Retirement(SM) Roth IRA contract is designed to qualify as a Roth individual retirement annuity under Sections 408A(b) and 408(b) of the Internal Revenue Code. CONTRIBUTIONS TO ROTH IRAS Generally, individuals may make four different types of contributions to purchase a Roth IRA or as later additions to an existing Roth IRA: o regular after-tax contributions out of earnings; or o taxable rollover contributions from traditional IRAs or other eligible retirement plans ("conversion rollover" contributions); or o tax-free rollover contributions from other Roth individual retirement arrangements; or o tax-free direct custodian-to-custodian transfers from other Roth IRAs ("direct transfers"). This Roth IRA may be funded only through direct transfer of funds and not through regular Roth IRA contributions or rollover contributions. Also, if the funds are originally in a traditional IRA, you must convert to Roth IRA in your original EQUI-VEST(SM) contract before you apply the funds to an EQUI-VEST(SM) At Retirement(SM) contract. RECHARACTERIZATIONS Generally, you may be able to treat a contribution made to one type of IRA as having been made to a different type of IRA. This is called recharacterizing the contribution. Any recharacterization of a Roth IRA contribution to a traditional IRA contribution, if available, must be done in the original EQUI-VEST(SM) Roth IRA contract and not in the EQUI-VEST(SM) At Retirement(SM) contract. WITHDRAWALS, PAYMENTS AND TRANSFERS OF FUNDS OUT OF ROTH IRAS NO FEDERAL INCOME TAX LAW RESTRICTIONS ON WITHDRAWALS. You can withdraw any or all of your funds from a Roth IRA at any time; you do not need to wait for a special event like retirement. DISTRIBUTIONS FROM ROTH IRAS Distributions include withdrawals from your contract, surrender of your contract and annuity payments from your contract. Death benefits are also distributions. You must keep your own records of regular and conversion contributions to all Roth IRAs to assure appropriate taxation. You may have to file information on your contributions to and distributions from any Roth IRA on your tax return. You may have to retain all income tax returns and records pertaining to such contributions and distributions until your interests in all Roth IRAs are distributed. Like traditional IRAs, taxable distributions from a Roth IRA are not entitled to special favorable ten-year averaging and long-term capital gain treatment available in limited cases to certain distributions from qualified plans. The following distributions from Roth IRAs are free of income tax: o rollovers from a Roth IRA to another Roth IRA; o direct transfers from a Roth IRA to another Roth IRA; o qualified distributions from a Roth IRA; and o return of excess contributions or amounts recharacterized to a traditional IRA. You may roll over amounts from one Roth IRA to another Roth IRA if you complete the transaction within 60 days of when you receive the funds. This can be accomplished on a completely tax-free basis. However, you may make Roth IRA to Roth IRA rollover transactions only once in any 12-month period for the same funds. Trustee-to-trustee or custodian-to-custodian direct transfers can be made more frequently than once a year. The surviving spouse beneficiary of a deceased individual can roll over or directly transfer an inherited Roth IRA to one or more other Roth 50 Tax information IRAs. In some cases, Roth IRAs can be transferred on a tax-free basis between spouses or former spouses as a result of a court-ordered divorce or separation decree. QUALIFIED DISTRIBUTIONS FROM ROTH IRAS. Qualified distributions from Roth IRAs made because of one of the following four qualifying events or reasons are not includable in income: o you are age 59-1/2 or older; or o you die; or o you become disabled (special federal income tax definition); or o your distribution is a "qualified first-time homebuyer distribution" (special federal income tax definition; $10,000 lifetime total limit for these distributions from all of your traditional and Roth IRAs). You also have to meet a five-year aging period. A qualified distribution is any distribution made after the five-taxable-year period beginning with the first taxable year for which you made any contribution to any Roth IRA (whether or not the one from which the distribution is being made). NONQUALIFIED DISTRIBUTIONS FROM ROTH IRAS. Nonqualified distributions from Roth IRAs are distributions that do not meet both the qualifying event and five-year aging period tests described above. If you receive such a distribution, part of it may be taxable. For purposes of determining the correct tax treatment of distributions (other than the withdrawal of excess contributions and the earnings on them), there is a set order in which contributions (including conversion contributions) and earnings are considered to be distributed from your Roth IRA. The order of distributions is as follows: (1) Regular contributions. (2) Conversion contributions, on a first-in-first-out basis (generally, total conversions from the earliest year first). These conversion contributions are taken into account as follows: (a) Taxable portion (the amount required to be included in gross income because of conversion) first, and then the (b) Nontaxable portion. (3) Earnings on contributions. Rollover contributions from other Roth IRAs are disregarded for this purpose. To determine the taxable amount distributed, distributions and contributions are aggregated or grouped together as follows: (1) All distributions made during the year from all Roth IRAs you maintain -- with any custodian or issuer -- are added together. (2) All regular contributions made during and for the year (contributions made after the close of the year, but before the due date of your return) are added together. This total is added to the total undistributed regular contributions made in prior years. (3) All conversion contributions made during the year are added together. For purposes of the ordering rules, in the case of any conversion in which the conversion distribution is made in 2008 and the conversion contribution is made in 2009, the conversion contribution is treated as contributed prior to other conversion contributions made in 2009. Any recharacterized contributions that end up in a Roth IRA are added to the appropriate contribution group for the year that the original contribution would have been taken into account if it had been made directly to the Roth IRA. Any recharacterized contribution that ends up in an IRA other than a Roth IRA is disregarded for the purpose of grouping both contributions and distributions. Any amount withdrawn to correct an excess contribution (including the earnings withdrawn) is also disregarded for this purpose. REQUIRED MINIMUM DISTRIBUTIONS DURING LIFE Lifetime required minimum distributions do not apply. REQUIRED MINIMUM DISTRIBUTIONS AT DEATH Same as traditional IRA under "What are the required minimum distribution payments after you die?", assuming death before the Required Beginning Date. PAYMENTS TO A BENEFICIARY AFTER YOUR DEATH Distributions to a beneficiary generally receive the same tax treatment as if the distribution had been made to you. BORROWING AND LOANS ARE PROHIBITED TRANSACTIONS Same as traditional IRA. EARLY DISTRIBUTION PENALTY TAX Same as traditional IRA. TAX-SHELTERED ANNUITY CONTRACTS (TSAS) GENERAL This section of the Prospectus reflects our current understanding of some of the special federal income tax rules applicable to annuity contracts used to fund employer plans under Section 403(b) of the Internal Revenue Code. We refer to these contracts as "403(b) annuity contracts" or "Tax Sheltered Annuity contracts (TSAs)". If the rules are the same as those that apply to another kind of contract, for example, traditional IRA contracts, we will refer you to the same topic under "traditional IRAs." - -------------------------------------------------------------------------------- The disclosure generally assumes that the TSA has 403(b) contract status or qualifies as a 403(b) contract. Due to Internal Revenue Service and Treasury regulatory changes in 2007 which become fully effective on January 1, 2009, contracts issued prior to September 25, 2007 which qualified as 403(b) contracts under the rules at the time of issue may lose their status as 403(b) contracts or have the availability of transactions under the contract restricted as of January 1, 2009 unless the individual's employer or the individual take certain actions. Please consult your tax adviser regarding the effect of these rules (which may vary depending on the owner's employment status, plan participation status, and when and how the contract was acquired) on your personal situation. - -------------------------------------------------------------------------------- FINAL REGULATIONS UNDER SECTION 403(B) The IRS and the Treasury Department published final Treasury Regulations under Section 403(b) of the Code (2007 Regulations). As a result, there are significant revisions to the establishment and opera- Tax information 51 tion of plans and arrangements under Section 403(b) of the Code, and the contracts issued to fund such plans. These rules become fully effective on January 1, 2009, but various transition rules apply beginning in 2007. There are a number of uncertainties regarding the application of these rules. The 2007 Regulations raise a number of questions as to the effect of the 2007 Regulations on 403(b) TSA contracts issued prior to the effective date of the 2007 Regulations. The IRS has issued guidance intended to clarify some of these questions, and may issue further guidance in future years. PERMISSIBLE INVESTMENTS. The 2007 Regulations retain the rule that there are generally two types of investments available to fund 403(b) plans -- an annuity contract under Section 403(b)(1) of the Internal Revenue Code or a custodial account that invests only in mutual funds and which is treated as an annuity contract under Section 403(b)(7) of the Code. Both types of 403(b) funding vehicles qualify for tax deferral. EMPLOYER PLAN REQUIREMENT. The thrust of the 2007 Regulations is to require a written plan document for Section 403(b) plans. As of January 1, 2009, employers sponsoring 403(b) plans must have a written plan designating administrative responsibilities for various functions under the plan, and the plan in operation must conform to the plan terms. As part of this process, the sponsoring employer must also designate the insurance companies or mutual fund companies to which it will make contributions to purchase 403(b) annuity contracts or 403(b)(7) custodial accounts under its 403(b) plan. These companies are typically referred to as "approved providers" or "approved vendors" under the employer's 403(b) plan, although such terms are not used in the 2007 Regulations. If AXA Equitable is not an approved provider under an employer's 403(b) plan, active participants in that employer's plan may have to transfer funds from their EQUI-VEST(SM) TSA contracts to another 403(b) plan funding vehicle in a contract exchange under the same plan in order to retain 403(b) status for those funds. Although it is not clear under the 2007 Regulations, it appears that (i) annuity contracts issued to employees terminating employment or retiring from service with the employer which provided the funds may not be considered as 403(b) annuity contracts if no longer part of the employer's plan, or (ii) even if such contracts retain 403(b) status (so that amounts can be rolled over into another eligible retirement plan which agrees to accept the funds), loans are not available. For this reason you should discuss with your tax adviser whether you should purchase an EQUI-VEST(SM) at Retirement(SM) TSA contract or retain a previously-purchased contract, or instead roll it over into another eligible retirement plan which will accept the funds, such as a traditional IRA. LIMITATIONS ON INDIVIDUAL INITIATED DIRECT TRANSFERS. The 2007 Regulations revoke Revenue Ruling 90-24 (Rev. Rul. 90-24), effective January 1, 2009. Prior to the 2007 Regulations, Rev. Rul. 90-24 had permitted individual-initiated, tax-free direct transfers of funds from one 403(b) contract to another, without reportable taxable income to the individual. Under transitional rules in the 2007 Regulations and other IRS published guidance, direct transfers made after September 24, 2007 may still be permitted with plan or employer approval as described below. EFFECT OF THE 2007 REGULATIONS ON CONTRIBUTIONS TO THE EQUI-VEST(SM) AT RETIREMENT(SM) TSA CONTRACT Because the EQUI-VEST(SM) at Retirement(SM) TSA contract (i) was designed to be purchased through an individual-initiated, Rev. Rul. 90-24 tax-free direct transfer of funds from one 403(b) arrangement to another and (ii) does not accept employer-remitted contributions, contributions after September 24, 2007 to an EQUI-VEST(SM) at Retirement(SM) TSA contract are extremely limited as described below. EQUI-VEST(SM) at Retirement(SM) TSA contracts issued pursuant to a Rev. Rul. 90-24 direct transfer where applications and all transfer paperwork were received by our processing office in good order prior to September 25, 2007 are "grandfathered" as to 403(b) status. However, future transactions such as loans and distributions under such "grandfathered" contracts may result in adverse tax consequences to the owner unless the contracts are or become part of the employer's 403(b) plan, or the employer enters into an information sharing agreement with us. Contributions after September 24, 2007 to an EQUI-VEST(SM) at Retirement(SM) TSA contract may only be made where AXA Equitable is an "approved vendor" under an employer's 403(b) plan in that participants in that 403(b) plan are currently contributing to another AXA Equitable 403(b) contract, and the employer agrees to enter into an information sharing agreement by January 1, 2009 with AXA Equitable with respect to the EQUI-VEST(SM) at Retirement(SM) TSA contract. DIRECT TRANSFER CONTRIBUTIONS A tax-free direct transfer occurs when changing the 403(b) plan funding vehicle, even if there is no distributable event. Under a direct transfer a plan participant does not receive a distribution. The 2007 Regulations provide for two types of direct transfers between 403(b) funding vehicles: "plan-to-plan transfers" and "contract exchanges within the same 403(b) plan". 403(b) plans do not have to offer these options. A "plan-to-plan transfer" must meet the following conditions: (i) both the source 403(b) plan and the recipient 403(b) plan permit plan-to-plan transfers; (ii) the transfer from one 403(b) plan to another 403(b) plan is made for a participant (or beneficiary of a deceased participant) who is an employee or former employee of the employer sponsoring the recipient 403(b) plan; (iii) immediately after the transfer the accumulated benefit of the participant (or beneficiary) whose assets are being transferred is at least equal to the participant's (or beneficiary's) accumulated benefit immediately before the transfer; (iv) the recipient 403(b) plan imposes distribution restrictions on transferred amounts at least as stringent as those imposed under the source 403(b) plan; and (v) if the plan-to-plan transfer is not a complete transfer of the participant's (or beneficiary's) interest in the source 403(b) plan, the recipient 403(b) plan treats the amount transferred as a continuation of a pro rata portion of the participant's (or beneficiary's) interest in the source 403(b) plan (for example with respect to the participant's interest in any after-tax employee contributions). A "contract exchange within the same 403(b) plan" must meet the following conditions: (i) the 403(b) plan under which the contract is 52 Tax information issued must permit contract exchanges; (ii) immediately after the exchange the accumulated benefit of the participant (or beneficiary of a deceased participant) is at least equal to the participant's (or beneficiary's) accumulated benefit immediately before the exchange (taking into account the accumulated benefit of that participant (or beneficiary) under both section 403(b) contracts immediately before the exchange); (iii) the contract issued in the exchange is subject to distribution restrictions with respect to the participant that are not less stringent than those imposed on the contract being exchanged; and (iv) the employer sponsoring the 403(b) plan and the issuer of the contract issued in the exchange agree to provide each other with specified information from time to time in the future ("an information sharing agreement"). The shared information is designed to preserve the requirements of Section 403(b), primarily to comply with loan requirements, hardship withdrawal rules, and distribution restrictions. The amount of any direct transfer contributions made to a 403(b) annuity contract must be net of the required minimum distribution for the tax year in which the contract is issued if the owner is at least age 70-1/2 in the calendar year the contribution is made, and has retired from service with the employer who sponsored the plan or provided the funds to purchase the 403(b) annuity contract which is the source of the contribution. DISTRIBUTIONS FROM TSAS GENERAL. Certain amounts under a 403(b) TSA contract may be restricted from withdrawal but these restrictions do not apply after severance from employment with the employer who provided the funds to purchase the contract. The EQUI-VEST(SM) At Retirement(SM) TSA contract is available for purchase only to TSA participants who are no longer employed with the employer who provided the funds for the purchase of the original EQUI-VEST(SM) TSA contract. Prior to the 2007 Regulations, restrictions on distributions which generally apply to certain amounts in TSAs did not apply to loans, withdrawals or other payments for such severed-from-employment individuals. Generally, after the 2007 Regulations, employer or plan administrator consent is required for loan, withdrawal or distribution transactions under a 403(b) annuity contract. It is not clear how the 2007 Regulations affect post-separation from service contract withdrawals from the At Retirement(SM) TSA. Processing of a requested transaction will not be completed pending receipt of information required to process the transaction under an information sharing agreement between AXA Equitable and the employer sponsoring the plan. TAX TREATMENT OF DISTRIBUTIONS. Amounts held under TSAs are generally not subject to federal income tax until benefits are distributed. Distributions include withdrawals from your TSA contract and annuity payments from your TSA contract. Death benefits paid to a beneficiary are also taxable distributions. Unless an exception applies, amounts distributed from TSAs are includable in gross income as ordinary income. (For example, there is a limited exclusion from gross income for distributions used to pay qualified health insurance premiums of an eligible retired public safety officer from eligible governmental employer, 403(b) plans.) Distributions from TSAs may be subject to 20% federal income tax withholding. See "Federal and state income tax withholding and information reporting" later in this section. In addition, TSA distributions may be subject to additional tax penalties. If you have made after-tax contributions, you will have a tax basis in your TSA contract, which will be recovered tax-free. Since we currently do not accept after-tax funds, we do not track your investment in the contract, if any. We will report all distributions from this TSA as fully taxable. It is your responsibility to determine how much of the distribution is taxable. EQUI-VEST(SM)At Retirement(SM) is not available if you have made designated Roth contributions to your original EQUI-VEST(SM) contract. DISTRIBUTIONS BEFORE ANNUITY PAYMENTS BEGIN. On a total surrender, the amount received in excess of the investment in the contract is taxable. The amount of any partial distribution from a TSA prior to the annuity starting date is generally taxable, except to the extent that the distribution is treated as a withdrawal of after-tax contributions. Distributions are normally treated as pro rata withdrawals of any after-tax contributions and earnings on those contributions. ANNUITY PAYMENTS. GMIB and other annuitization payments that are based on the annuitant's life or life expectancy are considered annuity payments for tax purposes. If you elect an annuity payout option, you will recover any investment in the contract as each payment is received by dividing the investment in the contract by an expected return determined under an IRS table prescribed for qualified annuities. The amount of each payment not excluded from income under this exclusion ratio is fully taxable. The full amount of the payments received after your investment in the contract is recovered is fully taxable. If you (and your beneficiary under a joint and survivor annuity) die before recovering the full investment in the contract, a deduction is allowed on your (or your beneficiary's) final tax return. PAYMENTS TO A BENEFICIARY AFTER YOUR DEATH. Death benefit distributions from a TSA generally receive the same tax treatment as distributions during your lifetime. In some instances, distributions from a TSA made to your surviving spouse may be rolled over to a traditional IRA or other eligible retirement plan. A surviving spouse might also be eligible to roll over a TSA death benefit to a Roth IRA in a taxable conversion rollover, beginning in 2008. A non-spousal death beneficiary may be able to directly roll over death benefits to a new traditional inherited IRA under certain circumstances. EFFECT OF 2007 REGULATIONS ON LOANS FROM TSAS. As a result of the 2007 Regulations loans are not available without employer or plan administrator approval. Loan processing may be delayed pending receipt of information required to process the loan under an information sharing agreement. Processing of a loan request will not be completed pending receipt of information required to process the transaction under an information sharing agreement between AXA Equitable and the employer sponsoring the plan. If loans are available: Loans are generally not treated as a taxable distribution. If the amount of the loan exceeds permissible limits under federal income tax rules when made, the amount of the excess is treated (solely for tax purposes) as a taxable distribution. Additionally, if the loan is not repaid at least quarterly, amortizing (paying down) interest and principal, the amount not repaid when due will be treated as a taxable distribution. Tax information 53 The entire unpaid balance of the loan, including unpaid interest, is includable in income in the year of the default. TSA loans are subject to federal income tax limits and may also be subject to the limits of the plan from which the funds came. Federal income tax rule requirements apply even if the plan is not subject to ERISA. For example, loans offered by TSAs are subject to the following conditions: o The amount of a loan to a participant, when combined with all other loans to the participant from all qualified plans of the employer, cannot exceed the lesser of (1) the greater of $10,000 or 50% of the participant's nonforfeitable accrued benefits and, (2) $50,000 reduced by the excess (if any) of the highest outstanding loan balance over the previous twelve months over the outstanding loan balance of plan loans on the date the loan was made. 403(b) plans are included in "all qualified plans of the employer" for this purpose. Also, for the purposes of calculating any subsequent loans which may be made under any plan of the same employer, a defaulted loan is treated as still outstanding even after the default is reported to the IRS. The amount treated as outstanding (which limits any subsequent loan) includes interest on the unpaid balance. o In general, the term of the loan cannot exceed five years unless the loan is used to acquire the participant's primary residence. EQUI-VEST(SM) At Retirement(SM) TSA contracts have a term limit of 10 years for loans used to acquire the participant's primary residence. o All principal and interest must be amortized in substantially level payments over the term of the loan, with payments being made at least quarterly. In very limited circumstances, the repayment obligation may be temporarily suspended during a leave of absence. The amount borrowed with respect to an EQUI-VEST(SM) At Retirement(SM) TSA contract and not repaid may be treated as a distribution if: o the loan does not qualify under the conditions above; or o the participant fails to repay the interest or principal when due. In this case, the participant may have to include the unpaid amount due as ordinary income. In addition, the 10% early distribution penalty tax may apply. The amount of the unpaid loan balance is reported to the IRS on Form 1099-R as a distribution. TAX-DEFERRED ROLLOVERS AND FUNDING VEHICLE TRANSFERS. You may roll over an "eligible rollover distribution" from a 403(b) annuity contract into another eligible retirement plan which agrees to accept the rollover. The rollover may be a direct rollover or one you do yourself within 60 days after you receive the distribution. To the extent rolled over, a distribution remains tax-deferred. You may roll over a distribution from a 403(b) annuity contract to any of the following: another 403(b) plan funding vehicle, a qualified plan, a governmental employer 457(b) plan (separate accounting required) or a traditional IRA. A spousal beneficiary may also roll over death benefits as above. A non-spousal death beneficiary may be able to directly roll over death benefits to a new traditional inherited IRA under certain circumstances. Effective beginning in 2008, distributions from a 403(b) annuity contract can be rolled over to a Roth IRA. Any taxable portion of the amount rolled over will be taxed at the time of the rollover. Rollovers are subject to the Roth IRA conversion rules, which restrict conversions of traditional IRAs to Roth IRAs to taxpayers with adjusted gross income of no more than $100,000, whether single or married filing jointly. The taxable portion of most distributions will be eligible for rollover, except as specifically excluded under federal income tax rules. Distributions that you cannot roll over generally include periodic payments for life or for a period of 10 years or more, hardship withdrawals and required minimum distributions under federal income tax rules. Direct transfers from one 403(b) annuity contract to another (whether under a plan-to-plan transfer, contract exchange under the same 403(b) plan, or under Rev. Rul. 90-24 prior to the 2007 Regulations, are not distributions. REQUIRED MINIMUM DISTRIBUTIONS Generally the same as traditional IRA with these differences: WHEN YOU HAVE TO TAKE THE FIRST REQUIRED MINIMUM DISTRIBUTION. The minimum distribution rules force 403(b) plan participants to start calculating and taking annual distributions from their TSAs by a required date. Generally, you must take the first required minimum distribution for the calendar year in which you turn age 70-1/2. You may be able to delay the start of required minimum distributions for all or part of your account balance until after age 70-1/2, as follows: o For 403(b) plan participants who have not retired from service with the employer who provided the funds for the TSA by the calendar year the participant turns age 70-1/2, the required beginning date for minimum distributions is extended to April 1 following the calendar year of retirement. (This exception is unlikely to apply as severance from employment from the employer who provided the funds to purchase the original EQUI-VEST(SM) TSA contract is a condition for purchasing the EQUI-VEST(SM) At Retirement(SM) TSA contract.) o 403(b) plan participants may also delay the start of required minimum distributions to age 75 of the portion of their account value attributable to their December 31, 1986 TSA account balance, even if retired at age 70-1/2. We will know whether or not you qualify for this exception because it applies only to people who purchase their EQUI-VEST(SM) At Retirement(SM) TSA contract by direct Revenue Ruling 90-24 transfers. The information from your original EQUI-VEST(SM) contract carries over. SPOUSAL CONSENT RULES If your original EQUI-VEST(SM) TSA contract is subject to ERISA, your purchase of EQUI-VEST(SM) At Retirement(SM) TSA contract is subject to prior spousal consent. Your spouse must sign the Conversion Acknowledgement Form. In addition, unless you elect otherwise with the written consent of your spouse, the retirement benefits payable under the plan must be paid in the form of a qualified joint and survivor annuity. A qualified joint and survivor annuity is payable for the life of the annuitant with a survivor annuity for the life of the spouse in an amount not less than one-half of the amount payable to the annuitant during his or her lifetime. In addition, if you are married, the beneficiary must be your spouse, unless your spouse consents in writing to the designation of another beneficiary. 54 Tax information If you are married and you die before annuity 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 a contrary election was in effect. However, your surviving spouse may elect, before payments begin, to receive payments in any form permitted under the terms of the TSA contract and the plan of the employer who provided the funds for the TSA. EARLY DISTRIBUTION PENALTY TAX A penalty tax of 10% of the taxable portion of a distribution applies to distributions from a TSA before you reach age 59-1/2. This is in addition to any income tax. There are exceptions to the extra penalty tax. Some of the available exceptions to the pre-age 59-1/2 penalty tax include distributions made: o on or after your death; or o because you are disabled (special federal income tax definition); or o to pay for certain extraordinary medical expenses (special federal income tax definition); or o in any form of payout after you have separated from service (only if the separation occurs during or after the calendar year you reach age 55); or o in a payout in the form of substantially equal periodic payments made at least annually over your life (or your life expectancy), or over the joint lives of you and your beneficiary (or your joint life expectancies) using an IRS-approved distribution method (only after you have separated from service at any age). FEDERAL AND STATE INCOME TAX WITHHOLDING AND INFORMATION REPORTING We must withhold federal income tax from distributions from annuity contracts. You may be able to elect out of this income tax withholding in some cases. Generally, we do not have to withhold if your distributions are not taxable. The rate of withholding will depend on the type of distribution and, in certain cases, the amount of your distribution. Any income tax withheld is a credit against your income tax liability. If you do not have sufficient income tax withheld or do not make sufficient estimated income tax payments, you may incur penalties under the estimated income tax rules. You must file your request not to withhold in writing before the payment or distribution is made. Our processing office will provide forms for this purpose. You cannot elect out of withholding unless you provide us with your correct Taxpayer Identification Number and a United States residence address. You cannot elect out of withholding if we are sending the payment out of the United States. You should note the following special situations: o We might have to withhold and/or report on amounts we pay under a free look or cancellation. o We are required to withhold on the gross amount of a distribution from a Roth IRA to the extent it is reasonable for us to believe that a distribution is includable in your gross income. This may result in tax being withheld even though the Roth IRA distribution is ultimately not taxable. You can elect out of withholding as described below. Special withholding rules apply to foreign recipients and United States citizens residing outside the United States. We do not discuss these rules here in detail. However we may require additional documentation in the case of payments made to non United States persons and United States persons living abroad prior to processing any requested transaction. Certain states have indicated that state income tax withholding will also apply to payments from the contracts made to residents. In some states, you may elect out of state withholding, even if federal withholding applies. Generally, an election out of federal withholding will also be considered an election out of state withholding. If you need more information concerning a particular state or any required forms, call our processing office at the toll-free number. FEDERAL INCOME TAX WITHHOLDING ON PERIODIC ANNUITY PAYMENTS We withhold differently on "periodic" and "non-periodic" payments. For a periodic annuity payment, for example, unless you specify a different number of withholding exemptions, we withhold assuming that you are married and claiming three withholding exemptions. If you do not give us your correct Taxpayer Identification Number, we withhold as if you are single with no exemptions. Based on the assumption that you are married and claiming three withholding exemptions, if you receive less than $18,720 in periodic annuity payments in 2008, your payments will generally be exempt from federal income tax withholding. You could specify a different choice of withholding exemption or request that tax be withheld. Your withholding election remains effective unless and until you revoke it. You may revoke or change your withholding election at anytime. FEDERAL INCOME TAX WITHHOLDING ON NON-PERIODIC ANNUITY PAYMENTS (WITHDRAWALS) For a non-periodic distribution (total surrender or partial withdrawal), we generally withhold at a flat 10% rate. We apply that rate to the taxable amount in the case of nonqualified contracts, and to the payment amount in the case of traditional IRAs and Roth IRAs, where it is reasonable to assume an amount is includable in gross income. You cannot elect out of withholding if the payment is an eligible rollover distribution from a TSA. If a non-periodic distribution from a TSA is not an eligible rollover distribution then the 10% withholding rate applies. MANDATORY WITHHOLDING FROM TSA DISTRIBUTIONS Unless the distribution is directly rolled over to another eligible retirement plan, eligible rollover distributions from TSAs are subject to mandatory 20% withholding. An eligible rollover distribution from a TSA can be rolled over to another eligible retirement plan. All distributions from a TSA are eligible rollover distributions unless they are on the following list of exceptions: o any distributions which are required minimum distributions after age 70-1/2 or retirement from service with the employer; or Tax information 55 o substantially equal periodic payments made at least annually for the life (or life expectancy) or the joint lives (or joint life expectancies) of the plan participant (and your designated beneficiary); or o substantially equal periodic payments made for a specified period of 10 years or more; or o hardship withdrawals; or o corrective distributions that fit specified technical tax rules; or o a death benefit payment to a beneficiary who is not the plan participant's surviving spouse; or o a qualified domestic relations order distribution to a beneficiary who is not the plan participant's current spouse or former spouse. A death benefit payment to the plan participant's surviving spouse, or a qualified domestic relations order distribution to the plan participant's current or former spouse, may be a distribution subject to mandatory 20% withholding. IMPACT OF TAXES TO AXA EQUITABLE The contracts provide that we may charge Separate Account A for taxes. We do not now, but may in the future set up reserves for such taxes. 56 Tax information 8. More information - -------------------------------------------------------------------------------- ABOUT OUR SEPARATE ACCOUNT A Each variable investment option is a subaccount of our Separate Account A. We established Separate Account A in 1968 under special provisions of the New York Insurance Law. These provisions prevent creditors from any other business we conduct from reaching the assets we hold in our variable investment options for owners of our variable annuity contracts. We are the legal owner of all of the assets in Separate Account A and may withdraw any amounts that exceed our reserves and other liabilities with respect to variable investment options under our contracts. For example, we may withdraw amounts from Separate Account A that represent our investments in Separate Account A or that represent fees and charges under the contracts that we have earned. The results of Separate Account A's operations are accounted for without regard to AXA Equitable's other operations. The amount of some of our obligations under the contracts is based on the assets in Separate Account A. However, the obligations themselves are obligations of AXA Equitable. Separate Account A is registered under the Investment Company Act of 1940 and is registered and classified under that act as a "unit investment trust." The SEC, however, does not manage or supervise AXA Equitable or Separate Account A. Although Separate Account A is registered, the SEC does not monitor the activity of Separate Account A on a daily basis. AXA Equitable is not required to register, and is not registered, as an investment company under the Investment Company Act of 1940. Each subaccount (variable investment option) within Separate Account A that is available under the contract invests solely in Class IB/B shares issued by the corresponding portfolio of its Trust. We reserve the right subject to compliance with laws that apply: (1) to add variable investment options to, or to remove variable investment options from, Separate Account A, or to add other separate accounts; (2) to combine any two or more variable investment options; (3) to transfer the assets we determine to be the shares of the class of contracts to which the contracts belong from any variable investment option to another variable investment option; (4) to operate Separate Account A or any variable investment option as a management investment company under the Investment Company Act of 1940 (in which case, charges and expenses that otherwise would be assessed against an underlying mutual fund would be assessed against Separate Account A or a variable investment option directly); (5) to deregister Separate Account A under the Investment Company Act of 1940; (6) to restrict or eliminate any voting rights as to Separate Account A; (7) to cause one or more variable investment options to invest some or all of their assets in one or more other trusts or investment companies; and (8) to unilaterally change your contract in order to comply with any applicable laws and regulations, including but not limited to changes in the Internal Revenue Code, in Treasury Regulations or in published rulings of the Internal Revenue Service and in Department of Labor regulations. Any change in the contract must be in writing and made by our authorized officer. We will provide notice of any contract change. ABOUT THE TRUSTS The Trusts are registered under the Investment Company Act of 1940. They are classified as "open-end management investment companies," more commonly called mutual funds. Each Trust issues different shares relating to each portfolio. The Trusts do not impose sales charges or "loads" for buying and selling its shares. All dividends and other distributions on Trust shares are reinvested in full. The Board of Trustees of the Trusts may establish additional portfolios or eliminate existing portfolios at any time. More detailed information about each Trust, its portfolio investment objectives, policies, restrictions, risks, expenses, its Rule 12b-1 Plan and other aspects of its operations, appears in the prospectuses for each Trust which generally accompany this prospectus, or in their respective SAIs which are available upon request. ABOUT OUR FIXED MATURITY OPTIONS RATES TO MATURITY AND PRICE PER $100 OF MATURITY VALUE We can determine the amount required to be allocated to one or more fixed maturity options in order to produce specified maturity values. For example, we can tell you how much you need to allocate per $100 of maturity value. The rates to maturity are determined weekly. The rates in the table below are illustrative only and will most likely differ from the rates applicable at time of purchase. Current rates to maturity can be obtained from TOPS or EQAccess or your financial professional. The rates to maturity for new allocations as of February 15, 2008 and the related price per $100 of maturity value were as shown below: - -------------------------------------------------------------------------------- Fixed Maturity Options with June 15th Rate to Price Maturity Date of Maturity as of Per $100 of Maturity Year February 15, 2008 Maturity Value - -------------------------------------------------------------------------------- 2008 3.00%** $ 99.02 2009 3.00%** $ 96.14 2010 3.00%** $ 93.34 2011 3.00%** $ 90.62 2012 3.00%** $ 87.98 2013 3.20% $ 84.53 2014 3.65% $ 79.69 2015* 4.05% $ 74.74 2016* 4.25% $ 70.68 2017* 4.45% $ 66.60 - -------------------------------------------------------------------------------- More information 57 * Not available in Oregon ** Since these rates to maturity are 3%, no amounts could have been allocated to these options. HOW WE DETERMINE THE MARKET VALUE ADJUSTMENT We use the following procedure to calculate the market value adjustment (up or down) we make if you withdraw all of your value from a fixed maturity option before its maturity date. (1) We determine the market adjusted amount on the date of the withdrawal as follows: (a) We determine the fixed maturity amount that would be payable on the maturity date, using the rate to maturity for the fixed maturity option. (b) We determine the period remaining in your fixed maturity option (based on the withdrawal date) and convert it to fractional years based on a 365-day year. For example, three years and 12 days becomes 3.0329. (c) We determine the current rate to maturity that applies on the withdrawal date to new allocations to the same fixed maturity option. (d) We determine the present value of the fixed maturity amount payable at the maturity date, using the period determined in (b) and the rate determined in (c). (2) We determine the fixed maturity amount as of the current date. (3) We subtract (2) from the result in (1)(d). The result is the market value adjustment applicable to such fixed maturity option, which may be positive or negative. - -------------------------------------------------------------------------------- Your market adjusted amount is the present value of the maturity value discounted at the rate to maturity in effect for new contributions to that same fixed maturity option on the date of the calculation. - -------------------------------------------------------------------------------- If you withdraw only a portion of the amount in a fixed maturity option, the market value adjustment will be a percentage of the market value adjustment that would have applied if you had withdrawn the entire value in that fixed maturity option. This percentage is equal to the percentage of the value in the fixed maturity option that you are withdrawing. See Appendix I at the end of this prospectus for an example. For purposes of calculating the rate to maturity for new allocations to a fixed maturity option (see (1)(c) above), we use the rate we have in effect for new allocations to that fixed maturity option. We use this rate even if new allocations to that option would not be accepted at that time. This rate will not be less than 3%. If we do not have a rate to maturity in effect for a fixed maturity option to which the "current rate to maturity" in (1)(c) above would apply, we will use the rate at the next closest maturity date. If we are no longer offering new fixed maturity options, the "current rate to maturity" will be determined in accordance with our procedures then in effect. We reserve the right to add up to 0.50% to the current rate in (1)(c) above for purposes of calculating the market value adjustment only. INVESTMENTS UNDER THE FIXED MATURITY OPTIONS Amounts allocated to the fixed maturity options are held in a "nonunitized" separate account we have established under the New York Insurance Law. This separate account provides an additional measure of assurance that we will make full payment of amounts due under the fixed maturity options. Under New York Insurance Law, the portion of the separate account's assets equal to the reserves and other contract liabilities relating to the contracts are not chargeable with liabilities from any other business we may conduct. We own the assets of the separate account, as well as any favorable investment performance on those assets. You do not participate in the performance of the assets held in this separate account. We may, subject to state law that applies, transfer all assets allocated to the separate account to our general account. We guarantee all benefits relating to your value in the fixed maturity options, regardless of whether assets supporting fixed maturity options are held in a separate account or our general account. We have no specific formula for establishing the rates to maturity for the fixed maturity options. We expect the rates to maturity for the fixed maturity options to be influenced by, but not necessarily correspond to, among other things, the yields that we can expect to realize on the separate account's investments from time to time. Our current plans are to invest in fixed-income obligations, including corporate bonds, mortgage-backed and asset-backed securities, and government and agency issues having durations in the aggregate consistent with those of the fixed maturity options. Although the above generally describes our plans for investing the assets supporting our obligations under the fixed maturity options under the contracts, we are not obligated to invest those assets according to any particular plan except as we may be required to by state insurance laws. We will not determine the rates to maturity we establish by the performance of the nonunitized separate account. ABOUT THE GENERAL ACCOUNT Our general account supports all of our policy and contract guarantees, including those that apply to the guaranteed interest option and fixed maturity options, as well as our general obligations. The general account is subject to regulation and supervision by the Insurance Department of the State of New York and to the insurance laws and regulations of all jurisdictions where we are authorized to do business. Interests under the contracts in the general account have not been registered and are not required to be registered under the Securities Act of 1933 because of exemptions and exclusionary provisions that apply. The general account is not required to register as an investment company under the Investment Company Act of 1940 and it is not registered as an investment company under the Investment Company Act of 1940. The market value adjustment interests under the contracts, which are held in a separate account, are issued by AXA Equitable and are registered under the Securities Act of 1933. The contract is a "covered security" under the federal securities laws. We have been advised that the staff of the SEC has not reviewed the portions of this prospectus that relate to the general account. The disclosure with regard to the general account, however, may be subject to 58 More information certain provisions of the federal securities laws relating to the accuracy and completeness of statements made in prospectuses. DATES AND PRICES AT WHICH CONTRACT EVENTS OCCUR We describe below the general rules for when, and at what prices, events under your contract will occur. Other portions of this prospectus describe circumstances that may cause exceptions. We generally do not repeat those exceptions below. BUSINESS DAY Our "business day" is generally any day the New York Stock Exchange is open for regular trading and generally ends at 4:00 p.m. Eastern Time (or as of an earlier close of regular trading). A business day does not include a day on which we are not open due to emergency conditions determined by the Securities and Exchange Commission. We may also close early due to such emergency conditions. Contributions will be applied and any other transaction requests will be processed when they are received along with all the required information unless another date applies as indicated below. o If your contribution, transfer or any other transaction request containing all the required information reaches us on any of the following, we will use the next business day: - on a non-business day: - after 4:00 p.m., Eastern Time on a business day; or - after an early close of regular trading on the NYSE on a business day. o A loan request under your TSA contract will be processed on the first business day of the month following the date on which the properly completed loan request form is received. o If your transaction is set to occur on the same day of the month as the contract date and that date is the 29th, 30th or 31st of the month, then the transaction will occur on the 1st day of the next month. o When a charge is to be deducted on a contract date anniversary that is a non-business day, we will deduct the charge on the next business day. CONTRIBUTIONS AND TRANSFERS o Contributions allocated to the variable investment options are invested at the unit value next determined after the receipt of the contribution. o Contributions allocated to the guaranteed interest option will receive the crediting rate in effect on that business day for the specified time period. o Contributions allocated to a fixed maturity option will receive the rate to maturity in effect for that fixed maturity option on that business day. o If a fixed maturity option is scheduled to mature on June 15th and June 15th is a non-business day, that fixed maturity option will mature on the prior business day. o Transfers to or from variable investment options will be made at the unit value next determined after the receipt of the transfer request. o Transfers to a fixed maturity option will receive the rate to maturity in effect for that fixed maturity option on that business day. o Transfers to the guaranteed interest option will receive the crediting rate in effect on that business day for the specified time period. o Transfers out of a fixed maturity option will be at the market adjusted amount on that business day. o For the fixed-dollar option, the first monthly transfer will occur on the last business day of the month in which we receive your election form at our processing office. o For the interest sweep, the first monthly transfer will occur on the last business day of the month following the month that we receive your election form at our processing office. o Quarterly rebalancing will be processed on a calendar year basis. Semiannual or annual rebalancing will be processed on the first business day of the month. Rebalancing will not be done retroactively. o Requests for withdrawals or surrenders will occur on the business day that we receive the information that we require. ABOUT YOUR VOTING RIGHTS As the owner of the shares of the Trusts we have the right to vote on certain matters involving the portfolios, such as: o the election of trustees; or o the formal approval of independent public accounting firms selected for each Trust; or o any other matters described in each prospectus for the Trusts or requiring a shareholders' vote under the Investment Company Act of 1940. We will give contract owners the opportunity to instruct us how to vote the number of shares attributable to their contracts if a shareholder vote is taken. If we do not receive instructions in time from all contract owners, we will vote the shares of a portfolio for which no instructions have been received in the same proportion as we vote shares of that portfolio for which we have received instructions. We will also vote any shares that we are entitled to vote directly because of amounts we have in a portfolio in the same proportions that contract owners vote. The Trusts sell their shares to AXA Equitable separate accounts in connection with AXA Equitable's variable annuity and/or life insurance products, and to separate accounts of insurance companies, both affiliated and unaffiliated with AXA Equitable. AXA Premier VIP Trust and EQ Advisors Trust also sell their shares to the trustee of a qualified plan for AXA Equitable. We currently do not foresee any disadvantages to our policyowners arising out of these arrangements. However, the Board of Trustees or Directors of each Trust intend to monitor events to identify any material irreconcilable conflicts that may arise and to determine what action, if any, should be taken in response. If we believe that a Board's response insufficiently protects our policyowners, we will see to it that appropriate action is taken to do so. More information 59 SEPARATE ACCOUNT A VOTING RIGHTS If actions relating to the separate account require contract owner approval, contract owners will be entitled to one vote for each unit they have in the variable investment options. Each contract owner who has elected a variable annuity payout option may cast the number of votes equal to the dollar amount of reserves we are holding for that annuity in a variable investment option divided by the annuity unit value for that option. We will cast votes attributable to any amounts we have in the variable investment options in the same proportion as votes cast by contract owners. CHANGES IN APPLICABLE LAW The voting rights we describe in this prospectus are created under applicable federal securities laws. To the extent that those laws or the regulations published under those laws eliminate the necessity to submit matters for approval by persons having voting rights in separate accounts of insurance companies, we reserve the right to proceed in accordance with those laws or regulations. ABOUT LEGAL PROCEEDINGS AXA Equitable and its affiliates are parties to various legal proceedings. In our view, none of these proceedings would be considered material with respect to a contract owner's interest in Separate Account A, nor would any of these proceedings be likely to have a material adverse effect upon the separate account, our ability to meet our obligations under the contracts, or the distribution of the contracts. FINANCIAL STATEMENTS The financial statements of Separate Account A, as well as the consolidated financial statements of AXA Equitable, are in the SAI. The SAI is available free of charge. You may request one by writing to our processing office or calling 800-628-6673. TRANSFERS OF OWNERSHIP, COLLATERAL ASSIGNMENTS, LOANS AND BORROWING You can transfer ownership of an NQ contract at any time before annuity payments begin. We will continue to treat you as the owner until we receive written notification of any change at our processing office. You cannot assign your NQ contract as collateral or security for a loan. Loans are also not available under your NQ contract. In some cases, an assignment or change of ownership may have adverse tax consequences. See "Tax information" earlier in this prospectus. For NQ contracts only, subject to regulatory approval, if you elected the Guaranteed minimum death benefit and/or Guaranteed minimum income benefit ("Benefit"), generally the Benefit will automatically terminate if you change ownership of the contract or if you assign the owner's right to change the beneficiary or person to whom annuity payments will be made. However, the Benefit will not terminate if the ownership of the contract is transferred from a non-natural owner to an individual but the contract will continue to be based on the annuitant's life. Please speak with your financial professional for further information. See Appendix IV later in this prospectus for any state variations with regard to terminating any benefits under your contract. You cannot assign or transfer ownership of IRA or TSA contracts except by surrender to us. Loans are not available and you cannot assign IRA contracts as security for a loan or other obligation. Loans are generally available under a TSA contract. For limited transfers of ownership after the owner's death see "Beneficiary continuation option" in "Payment of death benefit" earlier in this prospectus. You may direct the transfer of the values under your IRA or TSA contract to another similar arrangement under federal income tax rules. DISTRIBUTION OF THE CONTRACTS The contracts are distributed by AXA Advisors, LLC ("AXA Advisors"). AXA Advisors serves as a principal underwriter of Separate Account A. The offering of the contracts is intended to be continuous. AXA Advisors is an affiliate of AXA Equitable and under common control of AXA Financial, Inc. AXA Advisors is registered with the SEC as a broker-dealer and is a member of the Financial Industry Regulatory Authority, Inc. ("FINRA"). Its principal business address is 1290 Avenue of the Americas, New York, NY 10104. AXA Advisors also acts as a distributor for other AXA Equitable life and annuity products. The contracts are sold by financial professionals of AXA Advisors and its affiliates. The contracts are also sold by financial professionals of both affiliated and unaffiliated broker-dealers that have entered into selling agreements with AXA Advisors ("Selling broker-dealers"). AXA Advisors is under the common control of AXA Financial, Inc. AXA Equitable pays compensation to AXA Advisors based on contracts sold. Sales compensation paid to AXA Advisors will be asset-based and will generally not exceed 0.10% of the account value of the contract on an ongoing annual basis. AXA Advisors, in turn, may pay a portion of the asset-based compensation received from AXA Equitable to the AXA Advisors financial professional and/or Selling broker-dealer making the sale. The asset-based compensation paid by AXA Advisors varies among financial professionals and among Selling broker-dealers. AXA Advisors may pay certain affiliated and/or unaffiliated Selling broker-dealers and other financial intermediaries additional compensation in recognition of certain expenses that may be incurred by it or on its behalf. AXA Advisors may also pay certain broker-dealers or other financial intermediaries additional compensation for enhanced marketing opportunities and other services (commonly referred to as "marketing allowances"). Services for which such payments are made may include, but are not limited to, the preferred placement of AXA Equitable and/or EQUI-VEST(SM) At Retirement(SM) on a company and/or product list; sales personnel training; product training; business reporting; technological support; due diligence and related costs; advertising, marketing and related services; conferences; and/or other support services, including some that may benefit the contract owner. Payments may be based on the amount of assets or purchase payments attributable to contracts sold through a Selling broker-dealer or such payments may be a fixed amount. AXA Advisors may also make fixed payments to Selling broker-dealers in connection with the initiation of a new relationship or the introduction of a new product. These 60 More information payments may serve as an incentive for Selling broker-dealers to promote the sale of particular products. Additionally, as an incentive for financial professionals of Selling broker-dealers to promote the sale of AXA Equitable products, AXA Advisors may increase the sales compensation paid to the Selling broker-dealer for a period of time (commonly referred to as "compensation enhancements"). Marketing allowances and sales incentives are made out of AXA Advisors' assets. Not all Selling broker-dealers receive these kinds of payments. For more information about any such arrangements, ask your financial professional. AXA Advisors will receive 12b-1 fees from certain portfolios for providing certain distribution and/or shareholder support services. AXA Advisors or its affiliates may also receive payments from the advisers of the portfolios or their affiliates to help defray expenses for sales meetings or seminar sponsorships that may relate to the contracts and/or the advisers' respective portfolios. In an effort to promote the sale of our products, AXA Advisors may provide its financial professionals and managerial personnel with a higher percentage of sales commissions and/or cash compensation for the sale of an affiliated variable product than it would the sale of an unaffiliated product. Such practice is known as providing "differential compensation." In addition, managerial personnel may receive expense reimbursements, marketing allowances and commission-based payments known as "overrides." Certain components of the compensation of financial professionals who are managers are based on the sale of affiliated variable products. Managers earn higher compensation (and credits toward awards and bonuses) if those they manage sell more affiliated variable products. AXA Advisors may provide other forms of compensation to its financial professionals, including health and retirement benefits. For tax reasons, AXA Advisors financial professionals qualify for health and retirement benefits based solely on their sales of our affiliated products. These payments and differential compensation (together, the "payments") can vary in amount based on the applicable product and/or entity or individual involved. As with any incentive, such payments may cause the financial professional to show preference in recommending the purchase or sale of AXA Equitable products. However, under applicable rules of FINRA, AXA Advisors may only recommend to you products that they reasonably believe are suitable for you based on facts that you have disclosed as to your other security holdings, financial situation and needs. In making any recommendation, financial professionals of AXA Advisors may nonetheless face conflicts of interest because of the differences in compensation from one product category to another, and because of differences in compensation between products in the same category. In addition, AXA Advisors may offer sales incentive programs to financial professionals who meet specified production levels for the sale of both affiliated and unaffiliated products which provide non-cash compensation such as stock options awards and/or stock appreciation rights, expense-paid trips, expense-paid educational seminars and merchandise. Although AXA Equitable takes all of its costs into account in establishing the level of fees and expenses in its products, any asset-based compensation paid by AXA Equitable to AXA Advisors will not result in any separate charge to you under your contract. All payments made will be in compliance with all applicable FINRA rules and other laws and regulations. More information 61 9. Incorporation of certain documents by reference - -------------------------------------------------------------------------------- AXA Equitable's Annual Report on Form 10-K for the period ended December 31, 2007 (the "Annual Report") is considered to be part of this prospectus because it is incorporated by reference. AXA Equitable intends to send owners account statements and other such legally-required reports. AXA Equitable does not anticipate such reports will include periodic financial statements or information concerning AXA Equitable. AXA Equitable files reports and other information with the SEC, as required by law. You may read and copy this information at the SEC's public reference facilities at Room 1580, 100 F Street, NE, Washington, DC 20549, or by accessing the SEC's website at www.sec.gov. The public may obtain information on the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0330. Under the Securities Act of 1933, AXA Equitable has filed with the SEC a registration statement relating to the Market Value Adjustment (the "Registration Statement"). This prospectus has been filed as part of the Registration Statement and does not contain all of the information set forth in the Registration Statement. Please see the Registration Statement for additional information concerning the Market Value Adjustment. The Annual Report includes the audited consolidated financial statements of AXA Equitable at December 31, 2007 and 2006 and for each of the three years in the period ended December 31, 2007 (the "AXA Equitable Financial Statements"). The AXA Equitable Financial Statements are included in the Annual Report and incorporated by reference into this prospectus in reliance on the report of PricewaterhouseCoopers LLP, an independent registered public accounting firm. The AXA Equitable Financial Statements are also included in the Annual Report and incorporated by reference into this prospectus in reliance on the reports of KPMG LLP, an independent registered public accounting firm, on (i) the Consolidated Statements of Income, Changes in Partners' Capital and Comprehensive Income, and Cash Flows of AllianceBernstein L.P. and (ii) the Statements of Income, Changes in Partners' Capital and Comprehensive Income, and Cash Flows of AllianceBernstein Holding L.P. (together "AllianceBernstein", formerly "Alliance") for the year ended December 31, 2005. The reports are given on the authority of said firms as experts in auditing and accounting. KPMG LLP was AllianceBernstein's independent registered public accounting firm for the year ended December 31, 2005. On March 8, 2006, KPMG LLP was terminated, and PricewaterhouseCoopers LLP was appointed as AllianceBernstein's independent registered public accounting firm, as disclosed on AXA Equitable's Report on Form 8-K filed on March 13, 2006. AllianceBernstein Corporation, an indirect wholly owned subsidiary of AXA Equitable, is the general partner of both AllianceBernstein L.P. and AllianceBernstein Holding L.P. Any statement contained in a document that is or becomes part of this prospectus, will be considered changed or replaced for purposes of this prospectus if a statement contained in this prospectus changes or is replaced. Any statement that is considered to be a part of this prospectus because of its incorporation will be considered changed or replaced for the purpose of this prospectus if a statement contained in any other subsequently filed document that is considered to be part of this prospectus changes or replaces that statement. After that, only the statement that is changed or replaced will be considered to be part of this prospectus. We file our Exchange Act documents and reports, including our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, electronically according to EDGAR under CIK No. 0000727920. The SEC maintains a website that contains reports, proxy and information statements, and other information regarding registrants that file electronically with the SEC. The address of the website is www.sec.gov. Upon written or oral request, we will provide, free of charge, to each person to whom this prospectus is delivered, a copy of any or all of the documents considered to be part of this prospectus because they are incorporated herein. This does not include exhibits not specifically incorporated by reference into the text of such documents. Requests for documents should be directed to AXA Equitable Life Insurance Company, 1290 Avenue of the Americas, New York, New York 10104. Attention: Corporate Secretary (telephone: (212) 554-1234). 62 Incorporation of certain documents by reference Appendix I: Condensed financials - -------------------------------------------------------------------------------- The following tables show the accumulation unit values and the number of outstanding units for each variable investment option on the last business day of the periods shown. The information presented is shown for the past ten years, or from the first year the particular contracts were offered if less than ten years ago. THE UNIT VALUES AND NUMBERS OF UNITS OUTSTANDING SHOWN BELOW ARE FOR CONTRACTS OFFERED UNDER SEPARATE ACCOUNT A WITH THE SAME DAILY ASSET CHARGE OF 1.25%. UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007. - -------------------------------------------------------------------------------- For the years ending December 31, --------------------- 2007 2006 - -------------------------------------------------------------------------------- AXA Aggressive Allocation - -------------------------------------------------------------------------------- Unit value $ 97.11 $ 104.54 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- AXA Conservative Allocation - -------------------------------------------------------------------------------- Unit value $102.82 $ 101.50 - -------------------------------------------------------------------------------- Number of units outstanding (000's) 1 -- - -------------------------------------------------------------------------------- AXA Conservative-Plus Allocation - -------------------------------------------------------------------------------- Unit value $100.87 $ 102.29 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- AXA Moderate Allocation - -------------------------------------------------------------------------------- Unit value $ 99.38 $ 102.92 - -------------------------------------------------------------------------------- Number of units outstanding (000's) 3 -- - -------------------------------------------------------------------------------- AXA Moderate-Plus Allocation - -------------------------------------------------------------------------------- Unit value $ 98.88 $ 103.68 - -------------------------------------------------------------------------------- Number of units outstanding (000's) 13 -- - -------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock - -------------------------------------------------------------------------------- Unit value $ 95.05 $ 103.98 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/AllianceBernstein Intermediate Government Securities - -------------------------------------------------------------------------------- Unit value $105.16 $ 100.25 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/AllianceBernstein International - -------------------------------------------------------------------------------- Unit value $ 96.39 $ 105.78 - -------------------------------------------------------------------------------- Number of units outstanding (000's) 1 -- - -------------------------------------------------------------------------------- EQ/AllianceBernstein Large Cap Growth - -------------------------------------------------------------------------------- Unit value $104.11 $ 103.07 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/AllianceBernstein Quality Bond - -------------------------------------------------------------------------------- Unit value $103.54 $ 100.62 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/AllianceBernstein Small Cap Growth - -------------------------------------------------------------------------------- Unit value $ 99.28 $ 103.66 - -------------------------------------------------------------------------------- Number of units outstanding (000's) 1 -- - -------------------------------------------------------------------------------- EQ/AllianceBernstein Value - -------------------------------------------------------------------------------- Unit value $ 88.84 $ 104.11 - -------------------------------------------------------------------------------- Number of units outstanding (000's) 1 -- - -------------------------------------------------------------------------------- EQ/Ariel Appreciation II - -------------------------------------------------------------------------------- Unit value $ 88.34 $ 103.36 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- Appendix I: Condensed financials A-1 THE UNIT VALUES AND NUMBERS OF UNITS OUTSTANDING SHOWN BELOW ARE FOR CONTRACTS OFFERED UNDER SEPARATE ACCOUNT A WITH THE SAME DAILY ASSET CHARGE OF 1.25%. UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007. - -------------------------------------------------------------------------------- For the years ending December 31, --------------------- 2007 2006 - -------------------------------------------------------------------------------- EQ/AXA Rosenberg Value Long/Short Equity - -------------------------------------------------------------------------------- Unit value $ 100.29 $ 99.01 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/BlackRock Basic Value Equity - -------------------------------------------------------------------------------- Unit value $ 91.70 $ 104.24 - -------------------------------------------------------------------------------- Number of units outstanding (000's) 1 -- - -------------------------------------------------------------------------------- EQ/BlackRock International Value - -------------------------------------------------------------------------------- Unit value $ 98.44 $ 104.70 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/Boston Advisors Equity Income - -------------------------------------------------------------------------------- Unit value $ 94.66 $ 104.50 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/Calvert Socially Responsible - -------------------------------------------------------------------------------- Unit value $ 101.62 $ 101.26 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/Capital Guardian Growth - -------------------------------------------------------------------------------- Unit value $ 97.10 $ 101.69 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/Capital Guardian Research - -------------------------------------------------------------------------------- Unit value $ 93.93 $ 102.34 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/Caywood-Scholl High Yield Bond - -------------------------------------------------------------------------------- Unit value $ 100.04 $ 102.26 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/Davis New York Venture - -------------------------------------------------------------------------------- Unit value $ 95.94 $ -- - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/Equity 500 Index - -------------------------------------------------------------------------------- Unit value $ 95.03 $ 103.03 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/Evergreen International Bond - -------------------------------------------------------------------------------- Unit value $ 108.14 $ 101.77 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/Evergreen Omega - -------------------------------------------------------------------------------- Unit value $ 99.32 $ 103.62 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/FI Mid Cap - -------------------------------------------------------------------------------- Unit value $ 95.26 $ 104.66 - -------------------------------------------------------------------------------- Number of units outstanding (000's) 1 -- - -------------------------------------------------------------------------------- EQ/Franklin Income - -------------------------------------------------------------------------------- Unit value $ 96.80 $ 102.67 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/Franklin Small Cap Value - -------------------------------------------------------------------------------- Unit value $ 81.76 $ 103.24 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/Franklin Templeton Founding Strategy - -------------------------------------------------------------------------------- Unit value $ 94.37 $ -- - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/GAMCO Mergers and Acquisitions - -------------------------------------------------------------------------------- Unit value $ 95.62 $ 102.27 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- A-2 Appendix I: Condensed financials THE UNIT VALUES AND NUMBERS OF UNITS OUTSTANDING SHOWN BELOW ARE FOR CONTRACTS OFFERED UNDER SEPARATE ACCOUNT A WITH THE SAME DAILY ASSET CHARGE OF 1.25%. UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007. - -------------------------------------------------------------------------------- For the years ending December 31, --------------------- 2007 2006 - -------------------------------------------------------------------------------- EQ/GAMCO Small Company Value - -------------------------------------------------------------------------------- Unit value $ 94.52 $ 103.86 - -------------------------------------------------------------------------------- Number of units outstanding (000's) 1 -- - -------------------------------------------------------------------------------- EQ/International Core PLUS - -------------------------------------------------------------------------------- Unit value $102.01 $ 104.12 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/International Growth - -------------------------------------------------------------------------------- Unit value $101.57 $ 105.82 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/JPMorgan Core Bond - -------------------------------------------------------------------------------- Unit value $102.18 $ 100.66 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/JPMorgan Value Opportunities - -------------------------------------------------------------------------------- Unit value $ 90.10 $ 104.18 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/Large Cap Core PLUS - -------------------------------------------------------------------------------- Unit value $ 95.91 $ 102.43 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/Large Cap Growth PLUS - -------------------------------------------------------------------------------- Unit value $103.08 $ 104.10 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/Legg Mason Value Equity - -------------------------------------------------------------------------------- Unit value $ 87.93 $ 104.08 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/Long Term Bond - -------------------------------------------------------------------------------- Unit value $109.49 $ 100.40 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/Lord Abbett Growth and Income - -------------------------------------------------------------------------------- Unit value $ 96.60 $ 103.02 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/Lord Abbett Large Cap Core - -------------------------------------------------------------------------------- Unit value $101.27 $ 103.63 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/Lord Abbett Mid Cap Value - -------------------------------------------------------------------------------- Unit value $ 88.65 $ 103.83 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/Marsico Focus - -------------------------------------------------------------------------------- Unit value $108.07 $ 105.05 - -------------------------------------------------------------------------------- Number of units outstanding (000's) 1 -- - -------------------------------------------------------------------------------- EQ/Mid Cap Value PLUS - -------------------------------------------------------------------------------- Unit value $ 87.71 $ 103.66 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/Money Market - -------------------------------------------------------------------------------- Unit value $101.55 $ 100.60 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/Montag & Caldwell Growth - -------------------------------------------------------------------------------- Unit value $109.93 $ 101.82 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/Mutual Shares - -------------------------------------------------------------------------------- Unit value $ 92.28 $ 103.66 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- Appendix I: Condensed financials A-3 THE UNIT VALUES AND NUMBERS OF UNITS OUTSTANDING SHOWN BELOW ARE FOR CONTRACTS OFFERED UNDER SEPARATE ACCOUNT A WITH THE SAME DAILY ASSET CHARGE OF 1.25%. UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007. - -------------------------------------------------------------------------------- For the years ending December 31, --------------------- 2007 2006 - -------------------------------------------------------------------------------- EQ/Oppenheimer Global - -------------------------------------------------------------------------------- Unit value $ 95.47 $ 105.12 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/Oppenheimer Main Opportunity - -------------------------------------------------------------------------------- Unit value $ 94.35 $ -- - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/Oppenheimer Main Street Small Cap - -------------------------------------------------------------------------------- Unit value $ 87.42 $ 102.70 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/PIMCO Real Return - -------------------------------------------------------------------------------- Unit value $109.88 $ 99.43 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/Short Duration Bond - -------------------------------------------------------------------------------- Unit value $103.00 $ 100.49 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/Small Company Index - -------------------------------------------------------------------------------- Unit value $ 90.40 $ 102.91 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/T. Rowe Price Growth Stock - -------------------------------------------------------------------------------- Unit value $ 97.66 $ 100.02 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/Templeton Growth - -------------------------------------------------------------------------------- Unit value $ 93.60 $ 104.20 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/UBS Growth and Income - -------------------------------------------------------------------------------- Unit value $ 92.64 $ 102.89 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/Van Kampen Comstock - -------------------------------------------------------------------------------- Unit value $ 90.49 $ 102.92 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/Van Kampen Emerging Markets Equity - -------------------------------------------------------------------------------- Unit value $115.64 $ 113.12 - -------------------------------------------------------------------------------- Number of units outstanding (000's) 1 -- - -------------------------------------------------------------------------------- EQ/Van Kampen Mid Cap Growth - -------------------------------------------------------------------------------- Unit value $105.71 $ 103.78 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/Van Kampen Real Estate - -------------------------------------------------------------------------------- Unit value $ 82.82 $ -- - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- Multimanager Aggressive Equity - -------------------------------------------------------------------------------- Unit value $ 99.59 $ 105.05 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- Multimanager Core Bond - -------------------------------------------------------------------------------- Unit value $106.02 $ 100.50 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- Multimanager Health Care - -------------------------------------------------------------------------------- Unit value $101.64 $ 100.02 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- Multimanager High Yield - -------------------------------------------------------------------------------- Unit value $ 99.91 $ 102.45 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- A-4 Appendix I: Condensed financials THE UNIT VALUES AND NUMBERS OF UNITS OUTSTANDING SHOWN BELOW ARE FOR CONTRACTS OFFERED UNDER SEPARATE ACCOUNT A WITH THE SAME DAILY ASSET CHARGE OF 1.25%. UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007. - -------------------------------------------------------------------------------- For the years ending December 31, --------------------- 2007 2006 - -------------------------------------------------------------------------------- Multimanager International Equity - -------------------------------------------------------------------------------- Unit value $ 100.71 $ 105.91 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- Multimanager Large Cap Core Equity - -------------------------------------------------------------------------------- Unit value $ 95.23 $ 102.93 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- Multimanager Large Cap Growth - -------------------------------------------------------------------------------- Unit value $ 102.03 $ 101.24 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- Multimanager Large Cap Value - -------------------------------------------------------------------------------- Unit value $ 94.15 $ 103.97 - -------------------------------------------------------------------------------- Number of units outstanding (000's) 1 -- - -------------------------------------------------------------------------------- Multimanager Mid Cap Growth - -------------------------------------------------------------------------------- Unit value $ 98.14 $ 103.27 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- Multimanager Mid Cap Value - -------------------------------------------------------------------------------- Unit value $ 88.13 $ 102.93 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- Multimanager Small Cap Growth - -------------------------------------------------------------------------------- Unit value $ 92.33 $ 103.48 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- Multimanager Small Cap Value - -------------------------------------------------------------------------------- Unit value $ 84.78 $ 104.20 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- Multimanager Technology - -------------------------------------------------------------------------------- Unit value $ 103.56 $ 104.68 - -------------------------------------------------------------------------------- Number of units outstanding (000's) 1 -- - -------------------------------------------------------------------------------- Appendix I: Condensed financials A-5 Appendix II: Market value adjustment example - -------------------------------------------------------------------------------- The example below shows how the market value adjustment would be determined and how it would be applied to a withdrawal, assuming that $100,000 was allocated on June 15, 2008 to a fixed maturity option with a maturity date of June 15, 2016 (eight years later) at a hypothetical rate to maturity of 7.00% (h), resulting in a maturity value of $171,882 on the maturity date. We further assume that a withdrawal of $50,000 is made four years later, on June 15, 2012.(a) - -------------------------------------------------------------------------------- Hypothetical assumed rate to maturity(j) on June 15, 2012 --------------------- 5% 9% - -------------------------------------------------------------------------------- As of June 15, 2012 before withdrawal - -------------------------------------------------------------------------------- (1) market adjusted amount(b) $141,389 $121,737 - -------------------------------------------------------------------------------- (2) fixed maturity amount(c) $131,104 $131,104 - -------------------------------------------------------------------------------- (3) market value adjustment: (1) - (2) $ 10,285 $ (9,367) - -------------------------------------------------------------------------------- On June 15, 2012 after $50,000 withdrawal - -------------------------------------------------------------------------------- (4) portion of market value adjustment associated with the withdrawal: (3) x [$50,000/(1)] $ 3,637 $ (3,847) - -------------------------------------------------------------------------------- (5) portion of fixed maturity associated with the withdrawal: $50,000 - (4) $ 46,363 $ 53,847 - -------------------------------------------------------------------------------- (6) market adjusted amount (1) - $50,000 $ 91,389 $ 71,737 - -------------------------------------------------------------------------------- (7) fixed maturity amount: (2) - (5) $ 84,741 $ 77,257 - -------------------------------------------------------------------------------- (8) maturity value (d) $111,099 $101,287 - -------------------------------------------------------------------------------- You should note that in this example, if a withdrawal is made when rates have increased from 7.00% to 9.00% (right column), a portion of a negative market value adjustment is realized. On the other hand, if a withdrawal is made when rates have decreased from 7.00% to 5.00% (left column), a portion of a positive market value adjustment is realized. Notes: (a) Number of days from the withdrawal date to the maturity date = D = 1,461 (b) Market adjusted amount is based on the following calculation: Maturity value $171,882 ________________ ________________ = where j is either 5% or 9% (1+j)(D/365) (1+j)(1,461/365) (c) Fixed maturity amount is based on the following calculation: Maturity value $171,882 ________________ __________________ = (1+h)(D/365) (1+0.07)(1,461/365) (d) Maturity value is based on the following calculation: Fixed maturity amount x (1+h)(D/365) = ($84,741 or $77,257) x (1+0.07)(1,461/365)
B-1 Appendix II: Market value adjustment example Appendix III: Enhanced death benefit example - -------------------------------------------------------------------------------- The death benefit under the contracts is equal to the account value or, if greater, the enhanced death benefit if elected. The following illustrates the enhanced death benefit calculation. Assuming $100,000 is allocated to the variable investment options (with no allocation to the EQ/AllianceBernstein Intermediate Government Securities, EQ/Money Market, EQ/Short Duration Bond, the guaranteed interest option or the fixed maturity options, no subsequent contributions, no transfers, no withdrawals and no loans under a TSA contract, the enhanced death benefit for an annuitant age 55 would be calculated as follows: - -------------------------------------------------------------------------------- End of contract 6% Roll-Up to age 85 Annual Ratchet to age 85 year Account value benefit base benefit base - -------------------------------------------------------------------------------- 1 105,000 106,000 105,000 - -------------------------------------------------------------------------------- 2 115,500 112,360 115,500 - -------------------------------------------------------------------------------- 3 129,360 119,102 129,360 - -------------------------------------------------------------------------------- 4 103,488 126,248 129,360 - -------------------------------------------------------------------------------- 5 113,837 133,823 129,360 - -------------------------------------------------------------------------------- 6 127,497 141,852 129,360 - -------------------------------------------------------------------------------- 7 127,497 150,363 129,360 - -------------------------------------------------------------------------------- The account values for contract years 1 through 7 are based on hypothetical rates of return of 5.00%, 10.00%, 12.00%, (20.00)%, 10.00%, 12.00% and 0.00%. We are using these rates solely to illustrate how the benefit is determined. The return rates bear no relationship to past or future investment results. ANNUAL RATCHET TO AGE 85 (1) At the end of contract years 1 through 3, the death benefit is the current account value. (2) At the end of contract years 4 through 7, the death benefit is the enhanced death benefit at the end of the prior year since it is equal to or higher than the current account value. GREATER OF 6% ROLL-UP TO AGE 85 OR THE ANNUAL RATCHET TO AGE 85 The enhanced death benefit under this option for each year shown would be the greater of the amounts shown under the 6% Roll-Up to age 85 or the Annual Ratchet to age 85.* * At the end of contract years 4 through 7, the death benefit will be the enhanced death benefit. At the end of contract years 1, 2 and 3, the death benefit will be the current account value. Appendix III: Enhanced death benefit example C-1 Appendix IV: Hypothetical illustrations - -------------------------------------------------------------------------------- ILLUSTRATION OF ACCOUNT VALUES, CASH VALUES AND CERTAIN GUARANTEED MINIMUM BENEFITS The following tables illustrate the changes in account value, cash value and the values of the "greater of 6% Roll-Up to Age 85 or the Annual Ratchet to age 85" guaranteed minimum death benefit and the Guaranteed minimum income benefit under certain hypothetical circumstances for an EQUI-VEST(SM) At Retirement(SM) contract. The table illustrates the operation of a contract based on a male, issue age 60, who makes a single $100,000 contribution and takes no withdrawals. The amounts shown are for the beginning of each contract year and assume that all of the account value is invested in portfolios that achieve investment returns at constant gross annual rates of 0% and 6% (i.e., before any investment management fees, 12b-1 fees or other expenses are deducted from the underlying portfolio assets). After the deduction of the arithmetic average of the investment management fees, 12b-1 fees and other expenses of all of the underlying portfolios (as described below), the corresponding net annual rates of return would be (2.48)%, 3.52% for the EQUI-VEST(SM) At Retirement(SM) contract, at the 0% and 6% gross annual rates, respectively. These net annual rates of return reflect the trust and separate account level charges but they do not reflect the charges we deduct from your account value annually for the optional Guaranteed minimum death benefit and the Guaranteed minimum income benefit features. If the net annual rates of return did reflect these charges, the net annual rates of return would be lower; however, the values shown in the following tables reflect the following contract charges: the greater of 6% Roll-Up to age 85 and the Annual Ratchet to age 85 Guaranteed minimum death benefit charge and the Guaranteed minimum income benefit charge. The values shown under "Lifetime annual guaranteed minimum income benefit" reflect the lifetime income that would be guaranteed if the Guaranteed minimum income benefit is selected at that contract anniversary. An "N/A" in these columns indicates that the benefit is not exercisable in that year. A "0" under any of the death benefit and/or "Lifetime annual guaranteed minimum income benefit" columns indicates that the contract has terminated due to insufficient account value. However, the Guaranteed minimum income benefit has been automatically exercised and the owner is receiving lifetime payments. With respect to fees and expenses deducted from assets of the underlying portfolios, the amounts shown in all tables reflect (1) investment management fees equivalent to an effective annual rate of 0.69%, and (2) an assumed average asset charge for all other expenses of the underlying portfolios equivalent to an effective annual rate of 0.29% and (3) 12b-1 fees equivalent to an effective annual rate of 0.25%. These rates are the arithmetic average for all portfolios that are available as investment options. In other words, they are based on the hypothetical assumption that account values are allocated equally among the variable investment options. The actual rates associated with any contract will vary depending upon the actual allocation of contract values among the investment options. These rates do not reflect expense limitation arrangements in effect with respect to certain of the underlying portfolios as described in the footnotes to the fee table for the underlying portfolios in "Fee Table" earlier in this prospectus. With these arrangements, the charges shown above would be lower. This would result in higher values than those shown in the following tables. Because your circumstances will no doubt differ from those in the illustrations that follow, values under your contract will differ, in most cases substantially. Upon request, we will furnish you with a personalized illustration. D-1 Appendix IV: Hypothetical illustrations Variable deferred annuity EQUI-VEST(SM) At Retirement(SM) $100,000 Single contribution and no withdrawals Male, issue age 60 Benefits: Greater of 6% Roll-Up to age 85 or the Annual Ratchet to age 85 Guaranteed minimum death benefit Guaranteed minimum income benefit
Greater of 6% Roll- Up to age 85 or the Lifetime Annual Annual Ratchet to Guaranteed Minimum Income Benefit age 85 Guaranteed ---------------------------------- Minimum Guaranteed Hypothetical Account Value Cash Value Death Benefit Total Death Benefit Income Income Contract ------------------- ------------------- ------------------- ------------------- ----------------- ---------------- Age Year 0% 6% 0% 6% 0% 6% 0% 6% 0% 6% 0% 6% - ----- --------- --------- --------- --------- --------- --------- --------- --------- --------- -------- -------- -------- ------- 60 1 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 N/A N/A N/A N/A 61 2 96,195 102,195 96,195 102,195 106,000 106,000 106,000 106,000 N/A N/A N/A N/A 62 3 92,405 104,388 92,405 104,388 112,360 112,360 112,360 112,360 N/A N/A N/A N/A 63 4 88,624 106,573 88,624 106,573 119,102 119,102 119,102 119,102 N/A N/A N/A N/A 64 5 84,848 108,747 84,848 108,747 126,248 126,248 126,248 126,248 N/A N/A N/A N/A 65 6 81,071 110,902 81,071 110,902 133,823 133,823 133,823 133,823 N/A N/A N/A N/A 66 7 77,288 113,032 77,288 113,032 141,852 141,852 141,852 141,852 N/A N/A N/A N/A 67 8 73,491 115,132 73,491 115,132 150,363 150,363 150,363 150,363 N/A N/A N/A N/A 68 9 69,677 117,192 69,677 117,192 159,385 159,385 159,385 159,385 N/A N/A N/A N/A 69 10 65,837 119,205 65,837 119,205 168,948 168,948 168,948 168,948 N/A N/A N/A N/A 74 15 46,024 128,231 46,024 128,231 226,090 226,090 226,090 226,090 14,266 14,266 14,266 14,266 79 20 24,477 134,399 24,477 134,399 302,560 302,560 302,560 302,560 20,393 20,393 20,393 20,393 84 25 20 135,629 20 135,629 404,893 404,893 404,893 404,893 34,821 34,821 34,821 34,821 89 30 0 144,223 0 144,223 0 429,187 0 429,187 N/A N/A N/A N/A 94 35 0 157,642 0 157,642 0 429,187 0 429,187 N/A N/A N/A N/A 95 36 0 160,616 0 160,616 0 429,187 0 429,187 N/A N/A N/A N/A
The hypothetical investment results are illustrative only and should not be deemed a representation of past or future investment results. Actual investment results may be more or less than those shown and will depend on a number of factors, including investment allocations made by the owner. The account value, cash value and guaranteed benefits for a contract would be different from the ones shown if the actual gross rate of investment return averaged 0% or 6% over a period of years, but also fluctuated above or below the average for individual contract years. We can make no representation that these hypothetical investment results can be achieved for any one year or continued over any period of time. In fact, for any given period of time, the investment results could be negative. Appendix IV: Hypothetical illustrations D-2 Appendix V: State contract availability and/or variations of certain features and benefits - -------------------------------------------------------------------------------- The following information is a summary of the states where the EQUI-VEST(SM) At RetirementSM contract or certain features and/or benefits are either not available as of the date of this prospectus or vary from the contract's features and benefits as previously described in this prospectus. STATES WHERE CERTAIN EQUI-VEST(SM) AT RETIREMENTSM FEATURES AND/OR BENEFITS ARE NOT AVAILABLE OR HAS CERTAIN VARIATIONS TO FEATURES AND/OR BENEFITS:
- ----------------------------------------------------------------------------------------------------------------------------------- State Features and Benefits Availability or Variation - ----------------------------------------------------------------------------------------------------------------------------------- MASSACHUSETTS Guaranteed minimum death benefit/Guaranteed Not Available minimum income benefit roll-up benefit base reset Guaranteed minimum income benefit Not Available "no lapse guarantee" - ----------------------------------------------------------------------------------------------------------------------------------- MINNESOTA Guaranteed minimum death benefit/Guaranteed Not Available minimum income benefit roll-up benefit base reset Guaranteed minimum income benefit "no lapse Not Available guarantee" - ----------------------------------------------------------------------------------------------------------------------------------- NEW YORK Converting your EQUI-VEST(SM) contract to an All references to converting your EQUI-VEST(SM) contract to EQUI-VEST(SM) At Retirement(SM) contract EQUI-VEST(SM) At RetirementSM is changed to: exchanging your EQUI-VEST(SM) contract for an EQUI-VEST(SM) At RetirementSM contract. Greater of the 6% Roll-Up to age 85 or the Not Available Annual Ratchet to age 85 enhanced death benefit Guaranteed minimum death benefit/ Not Available Guaranteed minimum income benefit roll-up benefit base reset Guaranteed minimum income benefit Not Available "no lapse guarantee" Deduction of Charges for optional benefits With regard to the Guaranteed minimum income benefit charge and the Annual ratchet to age 85 enhanced death benefit charge, we will deduct the related charge as follows: we will deduct the charge from your value in the variable investment options on a pro rata basis. If those amounts are insufficient, we will deduct all or a portion of the charge from the fixed maturity options in order of the earliest maturity date(s) first. If the contract is surrendered or annuitized or a death benefit is paid, we will deduct a pro rata portion of the charge for that year. A market value adjustment will apply to deductions from the fixed maturity options. Deductions from the fixed maturity options cannot cause the net interest credited for the contract year to fall below 3.0%. Insufficient Account Value If the account value in the variable investment options and the fixed maturity options is insufficient to pay the enhanced death benefit charge and/or the guaranteed minimum income benefit charge, and there is no account value in the guaranteed interest option, the contract will terminate with- out value, and you will lose any applicable benefits. Annuity maturity date The maturity date is the contract date anniversary that fol- lows the annuitant's 90th birthday. Variable Immediate Annuity Payout Options -- Not available on a Single life basis. Life Annuity Contracts - ----------------------------------------------------------------------------------------------------------------------------------- OREGON Fixed maturity options Not Available - -----------------------------------------------------------------------------------------------------------------------------------
E-1 Appendix V: State contract availability and/or variations of certain features and benefits Statement of additional information - -------------------------------------------------------------------------------- TABLE OF CONTENTS Page Who is AXA Equitable? 2 Calculating unit values 2 Custodian and independent registered public accounting firm 2 Distribution of the contracts 2 Financial statements 2 How to obtain an EQUI-VEST(SM) At Retirement(SM) Statement of Additional Information for Separate Account A Call (800) 628-6673 or send this request form to: EQUI-VEST(SM) At Retirement(SM) P.O. Box 4956 Syracuse, NY 13221-4956 Please send me an EQUI-VEST(SM) At Retirement(SM) SAI for Separate Account A dated May 1, 2008. - -------------------------------------------------------------------------------- Name - -------------------------------------------------------------------------------- Address - -------------------------------------------------------------------------------- City State Zip X02026 EQUI-VEST(SM) At Retirement(SM) ('04) EQUI-VEST(SM) A combination variable and fixed deferred annuity contract PROSPECTUS DATED MAY 1, 2008 Please read and keep this prospectus for future reference. It contains important information that you should know before purchasing or taking any other action under your contract. You should read the prospectuses for each Trust which contain important information about the portfolios. - -------------------------------------------------------------------------------- WHAT IS EQUI-VEST(SM)? EQUI-VEST(SM) is a deferred annuity contract issued by AXA Equitable Life Insurance Company. It provides for the accumulation of retirement savings and for income. The contract also offers death benefit protection and a number of payout options. You invest to accumulate value on a tax-deferred basis in one or more of our variable investment options, our guaranteed interest option or in our fixed maturity options ("investment options"). This contract may not currently be available in all states.
- -------------------------------------------------------------------------------- Variable investment options - -------------------------------------------------------------------------------- Fixed income - -------------------------------------------------------------------------------- o AXA Conservative Allocation(*) o EQ/JPMorgan Core Bond o AXA Conservative-Plus Allocation(*) o EQ/Long Term Bond o EQ/AllianceBernstein Intermediate o EQ/Money Market Government Securities o EQ/PIMCO Real Return o EQ/AllianceBernstein Quality Bond o EQ/Short Duration Bond o EQ/Caywood-Scholl High Yield Bond o Multimanager Core Bond o EQ/Evergreen International Bond o Multimanager High Yield o EQ/Franklin Income - -------------------------------------------------------------------------------- Domestic stocks - -------------------------------------------------------------------------------- o AXA Aggressive Allocation(*) o EQ/Lord Abbett Mid Cap Value o AXA Moderate-Plus Allocation(*) o EQ/Marsico Focus o EQ/AllianceBernstein Common Stock o EQ/Mid Cap Value PLUS(3) o EQ/AllianceBernstein Large Cap o EQ/Montag & Caldwell Growth Growth o EQ/Mutual Shares o EQ/AllianceBernstein Small Cap o EQ/Oppenheimer Main Street Growth Opportunity o EQ/AllianceBernstein Value o EQ/Oppenheimer Main Street o EQ/Ariel Appreciation II Small Cap o EQ/AXA Rosenberg Value Long/Short o EQ/Small Company Index Equity o EQ/T. Rowe Price Growth Stock o EQ/BlackRock Basic Value Equity o EQ/Templeton Growth o EQ/Boston Advisors Equity Income o EQ/UBS Growth and Income o EQ/Calvert Socially Responsible o EQ/Van Kampen Comstock o EQ/Capital Guardian Growth o EQ/Van Kampen Mid Cap Growth o EQ/Capital Guardian Research o EQ/Van Kampen Real Estate o EQ/Davis New York Venture o Multimanager Aggressive Equity o EQ/Equity 500 Index o Multimanager Health Care o EQ/Evergreen Omega o Multimanager Large Cap Core Equity o EQ/FI Mid Cap o Multimanager Large Cap Growth o EQ/Franklin Small Cap Value o Multimanager Large Cap Value o EQ/Franklin Templeton Founding o Multimanager Mid Cap Growth Strategy o Multimanager Mid Cap Value o EQ/GAMCO Mergers and Acquisitions o Multimanager Small Cap Growth o EQ/GAMCO Small Company Value o Multimanager Small Cap Value o EQ/JPMorgan Value Opportunities o Multimanager Technology o EQ/Large Cap Core PLUS(1) o Target 2015 Allocation o EQ/Large Cap Growth PLUS(2) o Target 2025 Allocation o EQ/Legg Mason Value Equity o Target 2035 Allocation o EQ/Lord Abbett Growth and Income o Target 2045 Allocation o EQ/Lord Abbett Large Cap Core - -------------------------------------------------------------------------------- International stocks - -------------------------------------------------------------------------------- o EQ/AllianceBernstein International o EQ/Van Kampen Emerging Markets o EQ/BlackRock International Value Equity o EQ/International Core PLUS(4) o MarketPLUS International Core o EQ/International Growth o Multimanager International Equity o EQ/Oppenheimer Global - -------------------------------------------------------------------------------- Balanced/hybrid - -------------------------------------------------------------------------------- o AXA Moderate Allocation(*) - --------------------------------------------------------------------------------
(*) The AXA Allocation portfolios. (1) Formerly named "MarketPLUS Large Cap Core." (2) Formerly named "MarketPLUS Large Cap Growth." (3) Formerly named "MarketPLUS Mid Cap Value." (4) Formerly named "MarketPLUS International Core." You may allocate amounts to the variable investment options under your choice of investment method subject to any restrictions. Each variable investment option is a subaccount of Separate Account A. Each variable investment option, in turn, invests in a corresponding securities portfolio of either the EQ Advisors Trust or AXA Premier VIP Trust (the "Trusts"). Your investment results in a variable investment option will depend on the investment performance of the related portfolio. You may also allocate amounts to the guaranteed interest option and the fixed maturity options, which are discussed later in this prospectus. TYPES OF CONTRACTS. For existing and new contract owners, we offer the contracts for use as: o A nonqualified annuity ("NQ") for after-tax contributions only. o An individual retirement annuity ("IRA"), any of traditional IRA, Roth IRA or Inherited IRA beneficiary continuation contracts ("Inherited IRA"). A minimum contribution of $50 for IRAs ($5,000 for Inherited IRA) and $1,000 for NQ is required to purchase a contract. For existing contract owners only: o QP IRA (please see Appendix I -- these contracts are no longer available for new purchasers). Unless otherwise indicated, information for QP IRA is the same as traditional IRA. Registration statements relating to this offering have been filed with the Securities and Exchange Commission ("SEC"). The statement of additional information ("SAI") dated May 1, 2008, is a part of one of the registration statements. The SAI is available free of charge. You may request one by writing to our processing office at P.O. Box 4956, Syracuse, NY 13221-4956 or calling (800) 628-6673. The SAI has been incorporated by reference into this prospectus. This prospectus and the SAI can also be obtained from the SEC's website at www.sec.gov. The table of contents for the SAI appears at the back of this prospectus. The SEC has not approved or disapproved these securities or determined if this prospectus is accurate or complete. Any representation to the contrary is a criminal offense. The contracts are not insured by the FDIC or any other agency. They are not deposits or other obligations of any bank and are not bank guaranteed. They are subject to investment risks and possible loss of principal. X02039 Series 800 Although this prospectus is primarily designed for potential purchasers of the contract, you may have previously purchased a contract and are receiving this prospectus as a current contract owner. If you are a current contract owner, you should note that the options, features and charges of the contract may have varied over time and may vary depending on your state. For more information about the particular options, features and charges applicable to you, please contact your financial professional and/or refer to your contract and/or see Appendices I and V. Contents of this prospectus - -------------------------------------------------------------------------------- EQUI-VEST(SM) - -------------------------------------------------------------------------------- Index of key words and phrases 5 Who is AXA Equitable? 6 How to reach us 7 EQUI-VEST(SM) at a glance -- key features 9 - -------------------------------------------------------------------------------- FEE TABLE 12 - -------------------------------------------------------------------------------- Examples 15 Condensed financial information 18 - -------------------------------------------------------------------------------- 1. CONTRACT FEATURES AND BENEFITS 19 - -------------------------------------------------------------------------------- How you can purchase and contribute to your contract 19 Owner and annuitant requirements 21 How you can make your contributions 21 What are your investment options under the contract? 21 Portfolios of the Trusts 22 Selecting your investment method 28 Allocating your contributions 29 Your right to cancel within a certain number of days 29 Death benefit 29 Inherited IRA beneficiary continuation contract 30 - -------------------------------------------------------------------------------- 2. DETERMINING YOUR CONTRACT'S VALUE 32 - -------------------------------------------------------------------------------- Your account value and cash value 32 Your contract's value in the variable investment options 32 Your contract's value in the guaranteed interest option 32 Your contract's value in the fixed maturity options 32 - ---------------------- "We," "our" and "us" refer to AXA Equitable. When we use the word "contract" it also includes certificates that are issued under group contracts in some states. When we address the reader of this prospectus with words such as "you" and "your," we mean the person who has the right or responsi bility that the prospectus is discussing at that point. This is usually the contract owner. Contents of this prospectus 3 - -------------------------------------------------------------------------------- 3. TRANSFERRING YOUR MONEY AMONG INVESTMENT OPTIONS 33 - -------------------------------------------------------------------------------- Transferring your account value 33 Disruptive transfer activity 33 Automatic transfer options 34 Investment simplifier 34 Rebalancing your account value 35 - -------------------------------------------------------------------------------- 4. ACCESSING YOUR MONEY 36 - -------------------------------------------------------------------------------- Withdrawing your account value 36 How withdrawals are taken from your account value 37 Surrender of your contract to receive its cash value 37 Termination 37 When to expect payments 37 Your annuity payout options 37 - -------------------------------------------------------------------------------- 5. CHARGES AND EXPENSES 40 - -------------------------------------------------------------------------------- Charges that AXA Equitable deducts 40 Charges under the contracts 40 Charges that the Trusts deduct 43 Group or sponsored arrangements 43 Other distribution arrangements 43 - -------------------------------------------------------------------------------- 6. PAYMENT OF DEATH BENEFIT 44 - -------------------------------------------------------------------------------- Your beneficiary and payment of benefit 44 How death benefit payment is made 44 Beneficiary continuation option 45 - -------------------------------------------------------------------------------- 7. TAX INFORMATION 47 - -------------------------------------------------------------------------------- Overview 47 Buying a contract to fund a retirement arrangement 47 Transfers among investment options 47 Taxation of nonqualified annuities 47 Individual retirement arrangements ("IRAs") 49 Roth individual retirement annuities ("Roth IRAs") 55 Federal and state income tax withholding and information reporting 60 Impact of taxes to AXA Equitable 60 - -------------------------------------------------------------------------------- 8. MORE INFORMATION 61 - -------------------------------------------------------------------------------- About Separate Account A 61 About the Trusts 61 About our fixed maturity options 61 About the general account 62 About other methods of payment 63 Dates and prices at which contract events occur 63 About your voting rights 63 About legal proceedings 64 Financial statements 64 Transfers of ownership, collateral assignments, loans, and borrowing 64 Distribution of the contracts 64 - -------------------------------------------------------------------------------- 9. INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE 66 - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- APPENDICES - -------------------------------------------------------------------------------- I -- QP IRA contracts I-1 II -- Condensed financial information II-1 III -- Market value adjustment example III-1 IV -- Death benefit example IV-1 V -- State contract availability and/or variations of certain features and benefits V-1 - -------------------------------------------------------------------------------- STATEMENT OF ADDITIONAL INFORMATION TABLE OF CONTENTS - -------------------------------------------------------------------------------- 4 Contents of this prospectus Index of key words and phrases - -------------------------------------------------------------------------------- This index should help you locate more information on the terms used in this prospectus.
Page account value 32 annuitant 19 annuity payout options 37 beneficiary 44 beneficiary continuation option 45 business day 63 cash value 32 conduit IRA 53 contract date 10 contract date anniversary 10 contract year 10 contributions 19 Contributions to Roth IRAs 55 regular contribution 55 rollovers and direct transfers 55 conversion contributions 56 direct transfers 55 Contributions to traditional IRAs 49 regular contribution 49 rollovers and transfers 51 Disruptive transfer activity 33 EQAccess 7 fixed maturity amount 27 fixed maturity options 27 guaranteed interest option 27 IRA cover, 48 IRS 47 Inherited IRA cover, 31 investment options cover, 21 market adjusted amount 27 market timing 34 market value adjustment 28 maturity value 27 NQ cover partial withdrawals 36 portfolio cover processing office 7 QP IRA Appendix I ratcheted death benefit 30 rate to maturity 27 Required Beginning Date 54 Roth IRA cover, 50 SAI cover SEC cover TOPS 7 traditional IRA cover, 50 Trusts cover, 62 unit 32 unit investment trust 61 variable investment options cover, 21
To make this prospectus easier to read, we sometimes use different words than in the contract or supplemental materials. This is illustrated below. Although we do use different words, they have the same meaning in this prospectus as in the contract or supplemental materials. Your financial professional can provide further explanation about your contract.
- -------------------------------------------------------------------------------- Prospectus Contract or Supplemental Materials - -------------------------------------------------------------------------------- fixed maturity options Guarantee Periods or Fixed Maturity Accounts variable investment options Investment Funds or Investment Divisions account value Annuity Account Value rate to maturity Guaranteed Rates guaranteed interest option Guaranteed Interest Account unit Accumulation unit unit value Accumulation unit value
Index of key words and phrases 5 Who is AXA Equitable? - -------------------------------------------------------------------------------- We are AXA Equitable Life Insurance Company ("AXA Equitable") (until 2004, The Equitable Life Assurance Society of the United States), a New York stock life insurance corporation. We have been doing business since 1859. AXA Equitable is an indirect, wholly-owned subsidiary of AXA Financial, Inc., a holding company, which is itself an indirect, wholly-owned subsidiary of AXA SA ("AXA"). AXA is a French holding company for an international group of insurance and related financial services companies. As the ultimate sole shareholder of AXA Equitable, and under its other arrangements with AXA Equitable and AXA Equitable's parent, AXA exercises significant influence over the operations and capital structure of AXA Equitable and its parent. AXA holds its interest in AXA Equitable through a number of other intermediate holding companies, including Oudinot Participations, AXA America Holdings, Inc. and AXA Equitable Financial Services, LLC. AXA Equitable is obligated to pay all amounts that are promised to be paid under the contracts. No company other than AXA Equitable, however, has any legal responsibility to pay amounts that AXA Equitable owes under the contracts. AXA Financial, Inc. and its consolidated subsidiaries managed approximately $888.6 billion in assets as of December 31, 2007. For more than 100 years AXA Equitable has been among the largest insurance companies in the United States. We are licensed to sell life insurance and annuities in all fifty states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. Our home office is located at 1290 Avenue of the Americas, New York, NY 10104. 6 Who is AXA Equitable? HOW TO REACH US Please communicate with us at the mailing addresses listed below for the purposes described. Certain methods of contacting us, such as by telephone or electronically, may be unavailable or delayed. For example, our facsimile service may not be available at all times and/or we may be unavailable due to emergency closing. In addition, the level and type of service available may be restricted based on criteria established by us. In order to avoid delays in processing, please send your correspondence and check to the appropriate location, as follows: For correspondence with checks: - -------------------------------------------------------------------------------- FOR NQ AND IRA OWNERS WHO SEND CONTRIBUTIONS INDIVIDUALLY BY REGULAR MAIL: - -------------------------------------------------------------------------------- AXA Equitable EQUI-VEST(SM) Individual Collections P.O. Box 13459 Newark, NJ 07188-0459 - -------------------------------------------------------------------------------- FOR NQ AND IRA OWNERS WHO SEND CONTRIBUTIONS INDIVIDUALLY BY EXPRESS DELIVERY: - -------------------------------------------------------------------------------- JPMorganChase EQUI-VEST(SM) Lockbox #13459 4 Chase Metrotech Center (7th Floor) Brooklyn, NY 11245-0001 Telephone number to be used on express mail packages Attn: Extraction Supervisor, (718) 242-2992 - -------------------------------------------------------------------------------- FOR NQ AND IRA CONTRIBUTIONS REMITTED BY EMPLOYERS AND SENT BY REGULAR MAIL: - -------------------------------------------------------------------------------- AXA Equitable EQUI-VEST(SM) Unit Annuity Collections P.O. Box 13463 Newark, NJ 07188-0463 - -------------------------------------------------------------------------------- FOR NQ AND IRA CONTRIBUTIONS REMITTED BY EMPLOYERS AND SENT BY EXPRESS DELIVERY: - -------------------------------------------------------------------------------- AXA Equitable JPMorganChase EQUI-VEST(SM) Lockbox #13463 4 Chase Metrotech Center (7th Floor) Brooklyn, NY 11245-0001 Telephone number to be used on express mail packages Attn: Extraction Supervisor, (718) 242-2992 For correspondence without checks: - -------------------------------------------------------------------------------- FOR ALL OTHER COMMUNICATIONS (E.G., REQUESTS FOR TRANSFERS, WITHDRAWALS, OR REQUIRED NOTICES) SENT BY REGULAR MAIL: - -------------------------------------------------------------------------------- AXA Equitable EQUI-VEST(SM) Processing Office P.O. Box 4956 Syracuse, NY 13221-4956 - -------------------------------------------------------------------------------- FOR ALL OTHER COMMUNICATIONS (E.G., REQUESTS FOR TRANSFERS, WITHDRAWALS, OR REQUIRED NOTICES) SENT BY EXPRESS DELIVERY: - -------------------------------------------------------------------------------- AXA Equitable EQUI-VEST(SM) Processing Office 100 Madison Street, Suite 1000 Syracuse, NY 13202 ---------------------------------- Your correspondence will be picked up at the mailing address noted above and delivered to the appropriate processing office. Your correspondence, however, is not considered received by us until it is received at one of our processing offices. Our processing office for correspondence with checks is 4 Chase Metrotech Center, 7th Floor, Brooklyn, NY. Our processing office for all other communications is 100 Madison Street, Suite 100, Syracuse, NY. - -------------------------------------------------------------------------------- REPORTS WE PROVIDE: - -------------------------------------------------------------------------------- o written confirmation of financial transactions; o quarterly statements of your contract values as of the close of each calendar quarter; and o annual statement of your contract values as of the contract date anniversary. - -------------------------------------------------------------------------------- TELEPHONE OPERATED PROGRAM SUPPORT ("TOPS") AND EQACCESS SYSTEMS: - -------------------------------------------------------------------------------- TOPS is designed to provide you with up-to-date information via touch-tone telephone. EQAccess is designed to provide this information through the Internet. You can obtain information on: o your current account value; o your current allocation percentages; o the number of units you have in the variable investment options; o rates to maturity for the fixed maturity options; o the daily unit values for the variable investment options; and o performance information regarding the variable investment options (not available through TOPS). You can also: o change your allocation percentages and/or transfer among the variable investment options (not available for transfers to fixed maturity options) and the guaranteed interest option; and o change your TOPS personal identification number ("PIN") (through TOPS only) and your EQAccess password (through EQAccess only). Under TOPS only you can: o elect the investment simplifier. Under EQAccess only you can: o make a contribution to your IRA or NQ annuity contract; Who is AXA Equitable? 7 o elect to receive certain contract statements electronically; o change your address; and o access "Frequently Asked Questions" and certain service forms. TOPS and EQAccess are normally available seven days a week, 24 hours a day. You can use TOPS by calling toll-free (800) 755-7777. You may use EQAccess by visiting our website at www.axaonline.com and logging in to access your account. Of course, for reasons beyond our control, these services may sometimes be unavailable. We have established procedures to reasonably confirm that the instructions communicated by telephone or the Internet are genuine. For example, we will require certain personal identification information before we will act on telephone or Internet instructions and we will provide written confirmation of your transfers. If we do not employ reasonable procedures to confirm the genuineness of telephone or Internet instructions, we may be liable for any losses arising out of any act or omission that constitutes negligence, lack of good faith, or willful misconduct. In light of our procedures, we will not be liable for following telephone or Internet instructions we reasonably believe to be genuine. We reserve the right to limit access to these services if we determine that you engaged in a disruptive transfer activity such as "market timing." (See "Disruptive transfer activity" in "Transferring your money among investment options" later in this prospectus.) - -------------------------------------------------------------------------------- CUSTOMER SERVICE REPRESENTATIVE: - -------------------------------------------------------------------------------- You may also use our toll-free number (800) 628-6673 to speak with one of our customer service representatives. Our customer service representatives are available on each business day Monday through Thursday from 8:00 a.m. to 7:00 p.m., and on Friday until 5:00 p.m., Eastern Time. Hearing or speech-impaired clients may call the AT&T National Relay Number at (800) 855-2880 for information about your account. If you have a Telecommunications Device for the Deaf (TDD), you may relay messages or questions to our Customer Service Department at (800) 628-6673, Monday through Thursday from 8:00 a.m. to 7:00 p.m., and on Friday until 5:00 p.m. Eastern Time. AT&T personnel will communicate our reply back to you, via the TDD. - -------------------------------------------------------------------------------- TOLL FREE TELEPHONE SERVICE: - -------------------------------------------------------------------------------- You may reach us toll-free by calling (800) 841-0801 for a recording of daily unit values for the variable investment options. WE REQUIRE THAT THE FOLLOWING TYPES OF COMMUNICATIONS BE ON SPECIFIC FORMS WE PROVIDE FOR THAT PURPOSE: (1) conversion of your traditional IRA contract to a Roth IRA contract; (2) cancellation of your Roth IRA contract and return to a traditional IRA contract; (3) election of the automatic investment program; (4) election of the investment simplifier; (5) election of the automatic deposit service; (6) election of the rebalancing program; (7) election of the required minimum distribution automatic withdrawal option; (8) election of the beneficiary continuation option; (9) request for a transfer/rollover of assets or 1035 exchange to another carrier; (10) election of the principal assurance allocation; (11) purchase by, or change of ownership to, a non-natural owner; and (12) contract surrender and withdrawal requests. WE ALSO HAVE SPECIFIC FORMS THAT WE RECOMMEND YOU USE FOR THE FOLLOWING TYPES OF REQUESTS: (1) address changes; (2) beneficiary changes; (3) transfers among investment options; and (4) change of ownership. TO CHANGE OR CANCEL ANY OF THE FOLLOWING WE REQUIRE WRITTEN NOTIFICATION GENERALLY AT LEAST SEVEN CALENDAR DAYS BEFORE THE NEXT SCHEDULED TRANSACTION: (1) automatic investment program; (2) investment simplifier; (3) rebalancing program; (4) systematic withdrawals; and (5) the date annuity payments are to begin. You must sign and date all these requests. Any written request that is not on one of our forms must include your name and your contract number along with adequate details about the notice you wish to give or the action you wish us to take. SIGNATURES: The proper person to sign forms, notices and requests would normally be the owner. If there are joint owners, all must sign. 8 Who is AXA Equitable? EQUI-VEST(SM) at a glance -- key features
- ------------------------------------------------------------------------------------------------------------------------------------ Professional investment EQUI-VEST(SM) variable investment options invest in different portfolios sub-advised by professional management investment advisers. - ------------------------------------------------------------------------------------------------------------------------------------ Guaranteed interest o Principal and interest guarantees option o Interest rates set periodically - ------------------------------------------------------------------------------------------------------------------------------------ Fixed maturity options o 10 fixed maturity options with maturities ranging from approximately 1 to 10 years. o Each fixed maturity option offers a guarantee of principal and interest rate if you hold it to maturity. --------------------------------------------------------------------------------------------------------- If you make any withdrawals (including transfers, surrender or termination of your contract or when we make deductions for charges) from a fixed maturity option before it matures, we will make a market value adjustment, which will increase or decrease any fixed maturity amount you have in that fixed maturity option. - ------------------------------------------------------------------------------------------------------------------------------------ Tax advantages o On earnings inside the No tax until you make withdrawals from your contract or receive annuity contract payments. o On transfers inside the No tax on transfers among investment options. contract --------------------------------------------------------------------------------------------------------- If you are purchasing an annuity contract as an Individual Retirement Annuity (IRA), you should be aware that such annuities do not provide tax deferral benefits beyond those already provided by the Internal Revenue Code for individual retirement arrangements. Before purchasing one of these contracts, you should consider whether its features and benefits beyond tax deferral meet your needs and goals. You may also want to consider the relative features, benefits and costs of these contracts with any other investment that you may use in connection with your retirement plan or arrangement. (For more information, see "Tax information" later in this prospectus.) - ------------------------------------------------------------------------------------------------------------------------------------ Contribution amounts o NQ: -- $1,000 (initial) or $50 (minimum initial for payroll deduction); $50 (minimum additional). o Traditional IRA and Roth IRA: -- $50 (minimum initial and minimum additional). o For NQ, traditional IRA, and Roth IRA: $20 under our automatic investment program. o Inherited IRA -- $5,000 (minimum) $1,000 (minimum additional). Maximum contribution limitations may apply. In general, contributions are limited to $1.5 million under all EQUI-VEST(SM) series and EQUI-VEST(SM) At Retirement(SM) contracts with the same owner or annuitant ($500,000 for owners or annuitants who are age 81 and older at contract issue). - ------------------------------------------------------------------------------------------------------------------------------------ Death benefit protection The contract provides a death benefit for the beneficiary should the annuitant die. The death benefit is equal to the account value or the standard death benefit, whichever is higher. However, if you elect the ratcheted death benefit, the death benefit is equal to the account value or the ratcheted death benefit, whichever is higher. - ------------------------------------------------------------------------------------------------------------------------------------ Access to your money o Partial withdrawals o Several withdrawal options on a periodic basis o Contract surrender You may incur a withdrawal charge for certain withdrawals or if you surrender your contract. You may also incur income tax and a penalty tax. - ------------------------------------------------------------------------------------------------------------------------------------ Payout options o Fixed annuity payout options o Variable Immediate Annuity payout options (described in a separate prospectus for that option) - ------------------------------------------------------------------------------------------------------------------------------------
EQUI-VEST(SM) at a glance -- key features 9
- ------------------------------------------------------------------------------------------------------------------------------------ Additional features o Dollar-cost averaging by automatic transfers -- Interest sweep option -- Fixed-dollar option o Automatic investment program o Account value rebalancing (quarterly, semiannually, and annually) o Principal assurance allocation o No charge on transfers among investment options o Waiver of withdrawal charge under certain circumstances - ------------------------------------------------------------------------------------------------------------------------------------ Fees and charges o Daily charges on amounts invested in the variable investment options for mortality and expense risks and other expenses at an annual rate of 1.20% (2.00% maximum). o $30 ($65 maximum) or during the first two contract years 2% of your account value plus any amounts previously withdrawn during the contract year, if less; thereafter, $30 per year. If your account value is $25,000 or more for NQ contracts (or $20,000 or more for IRA contracts), we will not deduct the charge. For individuals who own multiple contracts with combined account values of over $100,000, this charge may be waived. See "Annual administrative charge" in "Charges and expenses," later in this prospectus. o Charge for third-party transfer (such as in the case of a trustee-to-trustee transfer for an IRA contract) or exchange (if your contract is exchanged for a contract issued by another insurance company) -- $25 current ($65 maximum) per occurrence. o No sales charge deducted at the time you make contributions. o We deduct a charge equal to 6% of contributions withdrawn if such contributions were made in the current and five prior contract years. There is no charge in any contract year in which the amount of the withdrawal does not exceed 15% of your account value as of the date of the withdrawal minus prior withdrawals in that contract year. Under certain circumstances the withdrawal charge will be waived. They are discussed in "Charges and expenses" later in this prospectus. --------------------------------------------------------------------------------------------------------- The "contract date" is the effective date of a contract. This usually is the business day we receive the properly completed and signed application, along with other required documents, and your initial contribution. Your contract date will be shown in your contract. The 12-month period beginning on your contract date and each 12-month period after that date is a "contract year." The end of each 12-month period is your "contract date anniversary." For example, if your contract date is May 1, your contract date anniversary is April 30." --------------------------------------------------------------------------------------------------------- o We deduct an annual charge equal to 0.15% of the account value on each contract date anniversary if you elect the optional ratcheted death benefit. o We deduct a charge designed to approximate certain taxes that may be imposed on us, such as premium taxes in your state. The charge is generally deducted from the amount applied to an annuity payout option. o We deduct an annuity administrative fee of $350 from amounts applied to a Variable Immediate Annuity payout option. This option is described in a separate prospectus that is available from your financial professional. o Annual expenses of the Trusts' portfolios are calculated as a percentage of the average daily net assets invested in each portfolio. Please see "Fee table" later in this prospectus for details. - ------------------------------------------------------------------------------------------------------------------------------------ Annuitant issue ages 0 - 85 (0 - 70 for Inherited IRA) - ------------------------------------------------------------------------------------------------------------------------------------
THE ABOVE IS NOT A COMPLETE DESCRIPTION OF ALL MATERIAL PROVISIONS OF THE CONTRACT. IN SOME CASES RESTRICTIONS OR EXCEPTIONS APPLY. RIGHTS ARE RESERVED TO CHANGE OR WAIVE CERTAIN CHARGES WITHIN SPECIFIED LIMITS. ALSO, ALL FEATURES OF THE CONTRACT, INCLUDING ALL VARIABLE INVESTMENT OPTIONS, ARE NOT NECESSARILY AVAILABLE IN YOUR STATE OR AT CERTAIN AGES OR UNDER YOUR INVESTMENT METHOD (SEE "SELECTING YOUR INVESTMENT METHOD" LATER IN THIS PROSPECTUS). For more detailed information we urge you to read the contents of this prospectus, as well as your contract. This prospectus provides a description of all material provisions of the contract. Please feel free to speak with your financial professional or call us, if you have any questions. If for any reason you are not satisfied with your contract, you may return it to us for a refund within a certain number of days. Please see "Your right to cancel within a certain number of days" later in this prospectus for additional information. 10 EQUI-VEST(SM) at a glance -- key features OTHER CONTRACTS We offer a variety of fixed and variable annuity contracts. They may offer features, including investment options, credits, fees and/or charges that are different from those in the contracts offered by this prospectus. Not every contract is offered through the same Selling broker-dealer. Some Selling broker-dealers may not offer and/or limit the offering of certain features or options, as well as limit the availability of the contracts, based on issue age or other criteria established by the Selling broker-dealer. Upon request, your financial professional can show you information regarding other AXA Equitable annuity contracts that he or she distributes. You can also contact us to find out more about the availability of any of the AXA Equitable annuity contracts. You should work with your financial professional to decide whether an optional benefit is appropriate for you based on a thorough analysis of your particular insurance needs, financial objectives, investment goals, time horizons and risk tolerance. Some Selling broker-dealers may limit their clients from purchasing some optional benefits based upon the client's age. EQUI-VEST(SM) at a glance -- key features 11 Fee table - -------------------------------------------------------------------------------- The following tables describe the fees and expenses that you will pay when buying, owning, and surrendering the contract. Each of the charges and expenses is more fully described in "Charges and expenses" later in this prospectus. The first table describes fees and expenses that you will pay at the time that you surrender the contract, make certain withdrawals, purchase a Variable Immediate Annuity payout option or make certain transfers and exchanges. Charges designed to approximate certain taxes that may be imposed on us, such as premium taxes in your state, may also apply. Charges for certain features shown in the fee table are mutually exclusive.
- ------------------------------------------------------------------------------------------------------------------------------------ Charges we deduct from your account value at the time you request certain transactions - ------------------------------------------------------------------------------------------------------------------------------------ Maximum withdrawal charge as a percentage of contributions withdrawn (deducted if you surrender your contract or make certain withdrawals).(1) 6.00% Charge if you elect a Variable Immediate Annuity payout option (which is described in a separate prospectus for that option) $350 Charge for third-party transfer or exchange $65 maximum for each occurrence; currently $25 for each occurrence. The next table describes the fees and expenses that you will pay periodically during the time that you own the contract, not including underlying Trust portfolio fees and expenses. - ------------------------------------------------------------------------------------------------------------------------------------ Charges we deduct from your account value on each contract date anniversary - ------------------------------------------------------------------------------------------------------------------------------------ Maximum annual administrative charge: If your account value is less than $25,000 for NQ contracts (or less than $20,000 for IRA contracts) on the last day of your contract year $65 ($30 current)(2) If your account value is $25,000 or more for NQ contracts (or $20,000 or more for IRA contracts) on the last day of your contract year $0 - ------------------------------------------------------------------------------------------------------------------------------------ Charges we deduct from your variable investment options expressed as an annual percentage of daily net assets - ------------------------------------------------------------------------------------------------------------------------------------ Separate account annual expenses: Maximum Current ------- ------- Mortality and expense risks(3) 1.65% 0.95% Other expenses 0.35% 0.25% ----- ----- Total separate account annual expenses 2.00% 1.20% - ------------------------------------------------------------------------------------------------------------------------------------ Charges we deduct from your account value each year if you elect the optional benefit - ------------------------------------------------------------------------------------------------------------------------------------ Ratcheted death benefit charge (as a percentage of your account value). (This charge is deducted annually on each contract date anniversary.) 0.15% - ------------------------------------------------------------------------------------------------------------------------------------ You also bear your proportionate share of all fees and expenses paid by a "portfolio" that corresponds to any variable investment option you are using. This table shows the lowest and highest total operating expenses charged by any of the portfolios that you will pay periodically during the time that you own the contract. These fees and expenses are reflected in the portfolio's net asset value each day. Therefore, they reduce the investment return of the portfolio and the related variable investment option. Actual fees and expenses are likely to fluctuate from year to year. More detail concerning each portfolio's fees and expenses is contained in the Trust prospectus for the portfolio. - ------------------------------------------------------------------------------------------------------------------------------------ Portfolio operating expenses expressed as an annual percentage of daily net assets - ------------------------------------------------------------------------------------------------------------------------------------ Total Annual Portfolio Operating Expenses for 2007 (expenses that are deducted Lowest Highest from portfolio assets including management fees, 12b-1 fees, service fees, and/or ------ ------- other expenses)(4) 0.63% 3.71%
12 Fee table This table shows the fees and expenses for 2007 as an annual percentage of each portfolio's daily average net assets.
- --------------------------------------------------------------------------------------------- Manage- ment 12b-1 Other Portfolio Name Fees(5) Fees(6) expenses(7) - --------------------------------------------------------------------------------------------- AXA Premier VIP Trust: - --------------------------------------------------------------------------------------------- AXA Aggressive Allocation 0.10% 0.25% 0.17% AXA Conservative Allocation 0.10% 0.25% 0.21% AXA Conservative-Plus Allocation 0.10% 0.25% 0.19% AXA Moderate Allocation 0.10% 0.25% 0.17% AXA Moderate-Plus Allocation 0.10% 0.25% 0.17% Multimanager Aggressive Equity 0.60% 0.25% 0.19% Multimanager Core Bond 0.58% 0.25% 0.18% Multimanager Health Care 1.20% 0.25% 0.23% Multimanager High Yield 0.57% 0.25% 0.19% Multimanager International Equity 1.00% 0.25% 0.23% Multimanager Large Cap Core Equity 0.89% 0.25% 0.21% Multimanager Large Cap Growth 0.90% 0.25% 0.22% Multimanager Large Cap Value 0.87% 0.25% 0.20% Multimanager Mid Cap Growth 1.10% 0.25% 0.20% Multimanager Mid Cap Value 1.09% 0.25% 0.20% Multimanager Small Cap Growth 1.05% 0.25% 0.27% Multimanager Small Cap Value 1.03% 0.25% 0.18% Multimanager Technology 1.20% 0.25% 0.22% Target 2015 Allocation 0.10% 0.25% 1.71% Target 2025 Allocation 0.10% 0.25% 1.41% Target 2035 Allocation 0.10% 0.25% 2.38% Target 2045 Allocation 0.10% 0.25% 2.81% - --------------------------------------------------------------------------------------------- EQ Advisors Trust: - --------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock 0.47% 0.25% 0.13% EQ/AllianceBernstein Intermediate Government Securities 0.50% 0.25% 0.13% EQ/AllianceBernstein International 0.71% 0.25% 0.18% EQ/AllianceBernstein Large Cap Growth 0.90% 0.25% 0.13% EQ/AllianceBernstein Quality Bond 0.50% 0.25% 0.14% EQ/AllianceBernstein Small Cap Growth 0.74% 0.25% 0.13% EQ/AllianceBernstein Value 0.59% 0.25% 0.12% EQ/Ariel Appreciation II 0.75% 0.25% 0.26% EQ/AXA Rosenberg Value Long/Short Equity 1.40% 0.25% 1.91% EQ/BlackRock Basic Value Equity 0.55% 0.25% 0.13% EQ/BlackRock International Value 0.81% 0.25% 0.19% EQ/Boston Advisors Equity Income 0.75% 0.25% 0.14% EQ/Calvert Socially Responsible 0.65% 0.25% 0.23% EQ/Capital Guardian Growth 0.65% 0.25% 0.14% EQ/Capital Guardian Research 0.63% 0.25% 0.13% EQ/Caywood-Scholl High Yield Bond 0.60% 0.25% 0.16% EQ/Davis New York Venture 0.85% 0.25% 0.18% EQ/Equity 500 Index 0.25% 0.25% 0.13% EQ/Evergreen International Bond 0.70% 0.25% 0.17% EQ/Evergreen Omega 0.65% 0.25% 0.25% EQ/FI Mid Cap 0.68% 0.25% 0.13% EQ/Franklin Income 0.90% 0.25% 0.15% EQ/Franklin Small Cap Value 0.90% 0.25% 0.18% EQ/Franklin Templeton Founding Strategy 0.05% 0.25% 0.22% EQ/GAMCO Mergers and Acquisitions 0.90% 0.25% 0.19% EQ/GAMCO Small Company Value 0.76% 0.25% 0.12% EQ/International Core PLUS 0.60% 0.25% 0.30% EQ/International Growth 0.85% 0.25% 0.27% EQ/JPMorgan Core Bond 0.43% 0.25% 0.13% EQ/JPMorgan Value Opportunities 0.60% 0.25% 0.14% EQ/Large Cap Core PLUS 0.50% 0.25% 0.25% EQ/Large Cap Growth PLUS 0.50% 0.25% 0.24% EQ/Legg Mason Value Equity 0.65% 0.25% 0.17% - --------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------- Total Annual Fee Acquired Expenses Waivers Net Annual Fund Fees (Before and/or Expenses and Expenses Expense Expense (After (Underlying Limita- Reimburse- Expense Portfolio Name Portfolios)(8) tions) ments(9) Limitations) - ----------------------------------------------------------------------------------------------------------------------- AXA Premier VIP Trust: - ----------------------------------------------------------------------------------------------------------------------- AXA Aggressive Allocation 0.92% 1.44% (0.17)% 1.27% AXA Conservative Allocation 0.69% 1.25% (0.21)% 1.04% AXA Conservative-Plus Allocation 0.76% 1.30% (0.19)% 1.11% AXA Moderate Allocation 0.82% 1.34% (0.17)% 1.17% AXA Moderate-Plus Allocation 0.86% 1.38% (0.17)% 1.21% Multimanager Aggressive Equity -- 1.04% -- 1.04% Multimanager Core Bond -- 1.01% (0.01)% 1.00% Multimanager Health Care -- 1.68% 0.00% 1.68% Multimanager High Yield -- 1.01% -- 1.01% Multimanager International Equity -- 1.48% 0.00% 1.48% Multimanager Large Cap Core Equity -- 1.35% 0.00% 1.35% Multimanager Large Cap Growth -- 1.37% (0.02)% 1.35% Multimanager Large Cap Value -- 1.32% 0.00% 1.32% Multimanager Mid Cap Growth -- 1.55% 0.00% 1.55% Multimanager Mid Cap Value -- 1.54% 0.00% 1.54% Multimanager Small Cap Growth -- 1.57% (0.02)% 1.55% Multimanager Small Cap Value -- 1.46% 0.00% 1.46% Multimanager Technology 0.01% 1.68% 0.00% 1.68% Target 2015 Allocation 0.55% 2.61% (1.46)% 1.15% Target 2025 Allocation 0.55% 2.31% (1.16)% 1.15% Target 2035 Allocation 0.55% 3.28% (2.13)% 1.15% Target 2045 Allocation 0.55% 3.71% (2.56)% 1.15% - ----------------------------------------------------------------------------------------------------------------------- EQ Advisors Trust: - ----------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock -- 0.85% -- 0.85% EQ/AllianceBernstein Intermediate Government Securities -- 0.88% -- 0.88% EQ/AllianceBernstein International -- 1.14% (0.04)% 1.10% EQ/AllianceBernstein Large Cap Growth -- 1.28% (0.23)% 1.05% EQ/AllianceBernstein Quality Bond -- 0.89% -- 0.89% EQ/AllianceBernstein Small Cap Growth -- 1.12% -- 1.12% EQ/AllianceBernstein Value -- 0.96% (0.01)% 0.95% EQ/Ariel Appreciation II -- 1.26% (0.11)% 1.15% EQ/AXA Rosenberg Value Long/Short Equity -- 3.56% 0.00% 3.56% EQ/BlackRock Basic Value Equity -- 0.93% 0.00% 0.93% EQ/BlackRock International Value -- 1.25% 0.00% 1.25% EQ/Boston Advisors Equity Income -- 1.14% (0.09)% 1.05% EQ/Calvert Socially Responsible -- 1.13% (0.08)% 1.05% EQ/Capital Guardian Growth 0.01% 1.05% (0.09)% 0.96% EQ/Capital Guardian Research -- 1.01% (0.06)% 0.95% EQ/Caywood-Scholl High Yield Bond -- 1.01% (0.01)% 1.00% EQ/Davis New York Venture -- 1.28% 0.00% 1.28% EQ/Equity 500 Index -- 0.63% -- 0.63% EQ/Evergreen International Bond -- 1.12% 0.00% 1.12% EQ/Evergreen Omega -- 1.15% 0.00% 1.15% EQ/FI Mid Cap -- 1.06% (0.06)% 1.00% EQ/Franklin Income -- 1.30% 0.00% 1.30% EQ/Franklin Small Cap Value -- 1.33% (0.03)% 1.30% EQ/Franklin Templeton Founding Strategy 1.05% 1.57% (0.12)% 1.45%(10) EQ/GAMCO Mergers and Acquisitions -- 1.34% 0.00% 1.34% EQ/GAMCO Small Company Value -- 1.13% 0.00% 1.13% EQ/International Core PLUS 0.04% 1.19% (0.05)% 1.14% EQ/International Growth -- 1.37% 0.00% 1.37% EQ/JPMorgan Core Bond -- 0.81% 0.00% 0.81% EQ/JPMorgan Value Opportunities -- 0.99% (0.04)% 0.95% EQ/Large Cap Core PLUS 0.02% 1.02% (0.05)% 0.97% EQ/Large Cap Growth PLUS 0.02% 1.01% (0.04)% 0.97% EQ/Legg Mason Value Equity -- 1.07% (0.07)% 1.00% - -----------------------------------------------------------------------------------------------------------------------
Fee table 13
- ------------------------------------------------------------------------------------------------------------------------------------ Total Annual Fee Acquired Expenses Waivers Net Annual Fund Fees (Before and/or Expenses Manage- and Expenses Expense Expense (After ment 12b-1 Other (Underlying Limita- Reimburse- Expense Portfolio Name Fees(5) Fees(6) expenses(7) Portfolios)(8) tions) ments(9) Limitations) - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Long Term Bond 0.40% 0.25% 0.13% -- 0.78% 0.00% 0.78% EQ/Lord Abbett Growth and Income 0.65% 0.25% 0.16% -- 1.06% (0.06)% 1.00% EQ/Lord Abbett Large Cap Core 0.65% 0.25% 0.21% -- 1.11% (0.11)% 1.00% EQ/Lord Abbett Mid Cap Value 0.70% 0.25% 0.15% -- 1.10% (0.05)% 1.05% EQ/Marsico Focus 0.85% 0.25% 0.13% -- 1.23% (0.08)% 1.15% EQ/Mid Cap Value PLUS 0.55% 0.25% 0.24% 0.02% 1.06% (0.04)% 1.02% EQ/Money Market 0.32% 0.25% 0.13% -- 0.70% -- 0.70% EQ/Montag & Caldwell Growth 0.75% 0.25% 0.15% -- 1.15% 0.00% 1.15% EQ/Mutual Shares 0.90% 0.25% 0.21% -- 1.36% (0.06)% 1.30% EQ/Oppenheimer Global 0.95% 0.25% 0.51% 0.01% 1.72% (0.36)% 1.36% EQ/Oppenheimer Main Street Opportunity 0.85% 0.25% 0.45% 0.01% 1.56% (0.25)% 1.31% EQ/Oppenheimer Main Street Small Cap 0.90% 0.25% 0.48% 0.01% 1.64% (0.33)% 1.31% EQ/PIMCO Real Return 0.55% 0.25% 0.14% -- 0.94% (0.04)% 0.90% EQ/Short Duration Bond 0.43% 0.25% 0.15% -- 0.83% 0.00% 0.83% EQ/Small Company Index 0.25% 0.25% 0.14% -- 0.64% 0.00% 0.64% EQ/T. Rowe Price Growth Stock 0.79% 0.25% 0.14% -- 1.18% (0.03)% 1.15% EQ/Templeton Growth 0.95% 0.25% 0.20% -- 1.40% (0.05)% 1.35% EQ/UBS Growth and Income 0.75% 0.25% 0.16% -- 1.16% (0.11)% 1.05% EQ/Van Kampen Comstock 0.65% 0.25% 0.15% -- 1.05% (0.05)% 1.00% EQ/Van Kampen Emerging Markets Equity 1.11% 0.25% 0.28% -- 1.64% 0.00% 1.64% EQ/Van Kampen Mid Cap Growth 0.70% 0.25% 0.15% -- 1.10% (0.05)% 1.05% EQ/Van Kampen Real Estate 0.90% 0.25% 0.21% -- 1.36% (0.10)% 1.26% - ------------------------------------------------------------------------------------------------------------------------------------
Notes: (1) This charge applies to any contribution withdrawn attributable to the current and five prior contract years measured from the date of the withdrawal. This charge is deducted upon a withdrawal of amounts in excess of the 15% free withdrawal amount. Important exceptions and limitations may eliminate or reduce this charge. (2) During the first two contract years, this charge, if it applies, is equal to the lesser of $30 or 2% of your account value plus any amount previously withdrawn during the contract year. (3) A portion of this charge is for providing the standard death benefit. (4) "Total Annual Portfolio Operating Expenses" are based, in part, on estimated amounts for options added during the fiscal year 2007 and for the underlying portfolios. (5) The management fees for each portfolio cannot be increased without a vote of that portfolio's shareholders. See footnote (9) for any expense limitation agreement information. (6) Portfolio shares are all subject to fees imposed under the distribution plans (the "Rule 12b-1 Plan") adopted by the Trusts pursuant to Rule 12b-1 under the Investment Company Act of 1940. For the portfolios of the AXA Premier VIP Trust and the EQ Advisors Trust, the 12b-1 fees will not be increased for the life of the contract. (7) The amounts shown as "Other Expenses" will fluctuate from year to year depending on actual expenses. See footnote (9) for any expense limitation agreement information. (8) Each of these variable investment options invests in a corresponding portfolio of one of the Trusts or other unaffiliated investment companies. Each portfolio, in turn, invests in shares of other portfolios of the Trusts and/or shares of unaffiliated portfolios ("underlying portfolios"). Amounts shown reflect each portfolio's pro rata share of the fees and expenses of the underlying portfolio(s) in which it invests. A "--" indicates that the listed portfolio does not invest in underlying portfolios. (9) The amounts shown reflect any fee waivers and/or expense reimbursements that apply to each portfolio. A "--" indicates that there is no expense limitation in effect, and "0.00%" indicates that the expense limitation arrangement did not result in a fee waiver or reimbursement. AXA Equitable, the investment manager of AXA Premier VIP Trust and EQ Advisors Trust, has entered into expense limitation agreements with respect to certain portfolios, which are effective through April 30, 2009 for AXA Premier VIP Trust and for EQ Advisors Trust (unless the Board of Trustees of AXA Premier VIP Trust or EQ Advisors Trust, as applicable, consents to an earlier revision or termination of this arrangement). Under these agreements, AXA Equitable has agreed to waive or limit its fees and assume other expenses of certain portfolios, if necessary, in an amount that limits such portfolio's Total Annual Expenses (exclusive of interest, taxes, brokerage commissions, capitalized expenditures, expenses of the underlying portfolios in which the portfolio invests and extraordinary expenses) to not more than the amounts specified in the agreements. Therefore, each portfolio may at a later date make a reimbursement to AXA Equitable for any of the management fees waived or limited and other expenses assumed and paid by AXA Equitable pursuant to the expense limitation agreements provided that the portfolio's current annual operating expenses do not exceed the operating expense limit determined for such portfolio. See the prospectuses for each applicable underlying Trust for more information about the arrangements. In addition, a portion of the brokerage commissions of certain portfolios of AXA Premier VIP Trust and EQ Advisors Trust is used to reduce the applicable portfolio's expenses. If the above table reflected both the expense limitation arrangements plus the portion of the brokerage commissions used to reduce portfolio expenses, the net expenses would be as shown in the table below:
- ---------------------------------------------- Portfolio Name: - ---------------------------------------------- Multimanager Aggressive Equity 0.97% - ---------------------------------------------- Multimanager Health Care 1.67% - ---------------------------------------------- Multimanager Large Cap Core Equity 1.34% - ---------------------------------------------- Multimanager Large Cap Growth 1.29% - ---------------------------------------------- Multimanager Large Cap Value 1.26% - ---------------------------------------------- Multimanager Mid Cap Growth 1.52% - ---------------------------------------------- Multimanager Mid Cap Value 1.53% - ---------------------------------------------- Multimanager Small Cap Growth 1.35% - ---------------------------------------------- Multimanager Small Cap Value 1.45% - ---------------------------------------------- Multimanager Technology 1.67% - ---------------------------------------------- EQ/AllianceBernstein Common Stock 0.84% - ----------------------------------------------
14 Fee table
- ---------------------------------------------- Portfolio Name: - ---------------------------------------------- EQ/AllianceBernstein Large Cap Growth 1.03% - ---------------------------------------------- EQ/AllianceBernstein Small Cap Growth 1.11% - ---------------------------------------------- EQ/AllianceBernstein Value 0.87% - ---------------------------------------------- EQ/Ariel Appreciation II 1.09% - ---------------------------------------------- EQ/BlackRock Basic Value Equity 0.92% - ---------------------------------------------- EQ/Davis New York Venture 1.25% - ---------------------------------------------- EQ/Evergreen Omega 1.12% - ---------------------------------------------- EQ/GAMCO Mergers and Acquisitions 1.33% - ---------------------------------------------- EQ/GAMCO Small Company Value 1.10% - ---------------------------------------------- EQ/International Core PLUS 1.05% - ---------------------------------------------- EQ/Large Cap Core PLUS 0.83% - ---------------------------------------------- EQ/Large Cap Growth PLUS 0.82% - ---------------------------------------------- EQ/Legg Mason Value Equity 0.97% - ---------------------------------------------- EQ/Lord Abbett Growth and Income 0.98% - ---------------------------------------------- EQ/Lord Abbett Large Cap Core 0.99% - ---------------------------------------------- EQ/Lord Abbett Mid Cap Value 1.04% - ---------------------------------------------- EQ/Mid Cap Value PLUS 0.81% - ---------------------------------------------- EQ/Montag & Caldwell Growth 1.13% - ---------------------------------------------- EQ/T. Rowe Price Growth Stock 0.87% - ---------------------------------------------- EQ/UBS Growth and Income 1.04% - ---------------------------------------------- EQ/Van Kampen Comstock 0.99% - ---------------------------------------------- EQ/Van Kampen Mid Cap Growth 1.04% - ----------------------------------------------
(10) In addition to the fee waiver and/or expense reimbursement discussed in the footnote immediately above, AXA Equitable, voluntarily will waive all its management and adminis tration fees and reimburse all other expenses associated with the EQ/Franklin Templeton Founding Strategy Portfolio ("Portfolio") (exclusive of taxes, interest, brokerage commissions, capitalized expenses, expenses of the investment companies in which the Portfolio invests, Rule 12b-1 fees and extraordinary expenses). Accordingly, the Total Annual Operating Expenses (including Acquired Fund Fees and Expenses), taking into account the voluntary waiver by AXA Equitable, will be 1.30%. The voluntary waiver by AXA Equitable will remain in effect until April 30, 2009. EXAMPLES These examples are intended to help you compare the cost of investing in the contract with the cost of investing in other variable annuity contracts. These costs include contract owner transaction expenses, contract fees, separate account annual expenses, and underlying Trust fees and expenses (including underlying portfolio fees and expenses). For a complete description of portfolio charges and expenses, please see the prospectus for each Trust. The examples below show the expenses that a hypothetical contract owner would pay in the situations illustrated. The examples use an average annual administrative charge based on charges paid in 2007, which results in an estimated annual charge of 0.0520% of contract value. The fixed maturity options and the guaranteed interest option are not covered by the fee table and examples. However, the annual administrative charge, the withdrawal charge, the third-party transfer or exchange charge, and the charge if you elect a Variable Immediate Annuity payout option do apply to the fixed maturity options and the guaranteed interest option. A market value adjustment (up or down) will apply as a result of a withdrawal, transfer, or surrender of amounts from a fixed maturity option. These examples should not be considered a representation of past or future expenses for any option. 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. The examples assume that you invest $10,000 in the contract for the time periods indicated and that your investment has a 5% return each year. The examples also assume (i) maximum contract charges rather than the lower current expenses discussed in "Charges and expenses" later in this prospectus (except the annual administrative charge which is described above); (ii) the total annual expenses of the portfolios (before expense limitations) set forth in the previous tables; (iii) that the ratcheted death benefit has been elected; and (iv) there is no waiver of the withdrawal charge. Although your actual costs may be higher or lower, based on these assumptions, your costs would be: Fee table 15
- --------------------------------------------------------------------------------------------------------- If you surrender your contract at the end of the applicable time period - --------------------------------------------------------------------------------------------------------- 1 year 3 years 5 years 10 years - --------------------------------------------------------------------------------------------------------- AXA PREMIER VIP TRUST: - --------------------------------------------------------------------------------------------------------- AXA Aggressive Allocation $ 898 $1,688 $2,497 $4,031 AXA Conservative Allocation $ 879 $1,633 $2,408 $3,856 AXA Conservative-Plus Allocation $ 884 $1,648 $2,432 $3,902 AXA Moderate Allocation $ 888 $1,659 $2,450 $3,939 AXA Moderate-Plus Allocation $ 892 $1,671 $2,469 $3,976 Multimanager Aggressive Equity $ 858 $1,572 $2,308 $3,658 Multimanager Core Bond $ 855 $1,563 $2,294 $3,629 Multimanager Health Care $ 922 $1,758 $2,609 $4,248 Multimanager High Yield $ 855 $1,563 $2,294 $3,629 Multimanager International Equity $ 902 $1,700 $2,516 $4,068 Multimanager Large Cap Core Equity $ 889 $1,662 $2,455 $3,949 Multimanager Large Cap Growth $ 891 $1,668 $2,465 $3,967 Multimanager Large Cap Value $ 886 $1,654 $2,441 $3,921 Multimanager Mid Cap Growth $ 909 $1,720 $2,549 $4,131 Multimanager Mid Cap Value $ 908 $1,717 $2,544 $4,122 Multimanager Small Cap Growth $ 911 $1,726 $2,558 $4,149 Multimanager Small Cap Value $ 900 $1,694 $2,507 $4,050 Multimanager Technology $ 922 $1,758 $2,609 $4,248 Target 2015 Allocation $1,015 $2,023 $3,031 $5,039 Target 2025 Allocation $ 985 $1,938 $2,897 $4,792 Target 2035 Allocation $1,081 $2,212 $3,325 $5,562 Target 2045 Allocation $1,124 $2,331 $3,508 $5,879 - --------------------------------------------------------------------------------------------------------- EQ ADVISORS TRUST: - --------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock $ 839 $1,516 $2,218 $3,475 EQ/AllianceBernstein Intermediate Government Securities $ 842 $1,525 $2,232 $3,504 EQ/AllianceBernstein International $ 868 $1,601 $2,356 $3,753 EQ/AllianceBernstein Large Cap Growth $ 882 $1,642 $2,422 $3,884 EQ/AllianceBernstein Quality Bond $ 843 $1,528 $2,237 $3,514 EQ/AllianceBernstein Small Cap Growth $ 866 $1,595 $2,347 $3,734 EQ/AllianceBernstein Value $ 850 $1,549 $2,270 $3,581 EQ/Ariel Appreciation II $ 880 $1,636 $2,413 $3,865 EQ/AXA Rosenberg Value Long/Short Equity $1,109 $2,289 $3,445 $5,770 EQ/BlackRock Basic Value Equity $ 847 $1,540 $2,256 $3,552 EQ/BlackRock International Value $ 879 $1,633 $2,408 $3,856 EQ/Boston Advisors Equity Income $ 868 $1,601 $2,356 $3,753 EQ/Calvert Socially Responsible $ 867 $1,598 $2,351 $3,743 EQ/Capital Guardian Growth $ 859 $1,575 $2,313 $3,667 EQ/Capital Guardian Research $ 855 $1,563 $2,294 $3,629 EQ/Caywood-Scholl High Yield Bond $ 855 $1,563 $2,294 $3,629 EQ/Davis New York Venture $ 882 $1,642 $2,422 $3,884 EQ/Equity 500 Index $ 818 $1,451 $2,111 $3,259 EQ/Evergreen International Bond $ 866 $1,595 $2,347 $3,734 EQ/Evergreen Omega $ 869 $1,604 $2,361 $3,762 EQ/FI Mid Cap $ 860 $1,578 $2,318 $3,677 EQ/Franklin Income $ 884 $1,648 $2,432 $3,902 - --------------------------------------------------------------------------------------------------------- - --------------------------------------------------------------------------------------------------------- If you annuitize at the end of the applicable time period and select a non-life contingent period certain annuity option with less than ten years. - --------------------------------------------------------------------------------------------------------- 1 year 3 years 5 years 10 years - --------------------------------------------------------------------------------------------------------- AXA PREMIER VIP TRUST: - --------------------------------------------------------------------------------------------------------- AXA Aggressive Allocation N/A $1,688 $2,497 $4,031 AXA Conservative Allocation N/A $1,633 $2,408 $3,856 AXA Conservative-Plus Allocation N/A $1,648 $2,432 $3,902 AXA Moderate Allocation N/A $1,659 $2,450 $3,939 AXA Moderate-Plus Allocation N/A $1,671 $2,469 $3,976 Multimanager Aggressive Equity N/A $1,572 $2,308 $3,658 Multimanager Core Bond N/A $1,563 $2,294 $3,629 Multimanager Health Care N/A $1,758 $2,609 $4,248 Multimanager High Yield N/A $1,563 $2,294 $3,629 Multimanager International Equity N/A $1,700 $2,516 $4,068 Multimanager Large Cap Core Equity N/A $1,662 $2,455 $3,949 Multimanager Large Cap Growth N/A $1,668 $2,465 $3,967 Multimanager Large Cap Value N/A $1,654 $2,441 $3,921 Multimanager Mid Cap Growth N/A $1,720 $2,549 $4,131 Multimanager Mid Cap Value N/A $1,717 $2,544 $4,122 Multimanager Small Cap Growth N/A $1,726 $2,558 $4,149 Multimanager Small Cap Value N/A $1,694 $2,507 $4,050 Multimanager Technology N/A $1,758 $2,609 $4,248 Target 2015 Allocation N/A $2,023 $3,031 $5,039 Target 2025 Allocation N/A $1,938 $2,897 $4,792 Target 2035 Allocation N/A $2,212 $3,325 $5,562 Target 2045 Allocation N/A $2,331 $3,508 $5,879 - --------------------------------------------------------------------------------------------------------- EQ ADVISORS TRUST: - --------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock N/A $1,516 $2,218 $3,475 EQ/AllianceBernstein Intermediate Government Securities N/A $1,525 $2,232 $3,504 EQ/AllianceBernstein International N/A $1,601 $2,356 $3,753 EQ/AllianceBernstein Large Cap Growth N/A $1,642 $2,422 $3,884 EQ/AllianceBernstein Quality Bond N/A $1,528 $2,237 $3,514 EQ/AllianceBernstein Small Cap Growth N/A $1,595 $2,347 $3,734 EQ/AllianceBernstein Value N/A $1,549 $2,270 $3,581 EQ/Ariel Appreciation II N/A $1,636 $2,413 $3,865 EQ/AXA Rosenberg Value Long/Short Equity N/A $2,289 $3,445 $5,770 EQ/BlackRock Basic Value Equity N/A $1,540 $2,256 $3,552 EQ/BlackRock International Value N/A $1,633 $2,408 $3,856 EQ/Boston Advisors Equity Income N/A $1,601 $2,356 $3,753 EQ/Calvert Socially Responsible N/A $1,598 $2,351 $3,743 EQ/Capital Guardian Growth N/A $1,575 $2,313 $3,667 EQ/Capital Guardian Research N/A $1,563 $2,294 $3,629 EQ/Caywood-Scholl High Yield Bond N/A $1,563 $2,294 $3,629 EQ/Davis New York Venture N/A $1,642 $2,422 $3,884 EQ/Equity 500 Index N/A $1,451 $2,111 $3,259 EQ/Evergreen International Bond N/A $1,595 $2,347 $3,734 EQ/Evergreen Omega N/A $1,604 $2,361 $3,762 EQ/FI Mid Cap N/A $1,578 $2,318 $3,677 EQ/Franklin Income N/A $1,648 $2,432 $3,902 - --------------------------------------------------------------------------------------------------------- - --------------------------------------------------------------------------------------------------------- If you do not surrender your contract at the end of the applicable time period - --------------------------------------------------------------------------------------------------------- 1 year 3 years 5 years 10 years - --------------------------------------------------------------------------------------------------------- AXA PREMIER VIP TRUST: - --------------------------------------------------------------------------------------------------------- AXA Aggressive Allocation $382 $1,160 $1,957 $4,031 AXA Conservative Allocation $362 $1,102 $1,862 $3,856 AXA Conservative-Plus Allocation $368 $1,117 $1,887 $3,902 AXA Moderate Allocation $372 $1,130 $1,907 $3,939 AXA Moderate-Plus Allocation $376 $1,142 $1,927 $3,976 Multimanager Aggressive Equity $340 $1,037 $1,756 $3,658 Multimanager Core Bond $337 $1,028 $1,741 $3,629 Multimanager Health Care $407 $1,234 $2,075 $4,248 Multimanager High Yield $337 $1,028 $1,741 $3,629 Multimanager International Equity $386 $1,172 $1,976 $4,068 Multimanager Large Cap Core Equity $373 $1,133 $1,912 $3,949 Multimanager Large Cap Growth $375 $1,139 $1,922 $3,967 Multimanager Large Cap Value $370 $1,123 $1,897 $3,921 Multimanager Mid Cap Growth $394 $1,194 $2,011 $4,131 Multimanager Mid Cap Value $393 $1,191 $2,006 $4,122 Multimanager Small Cap Growth $396 $1,200 $2,021 $4,149 Multimanager Small Cap Value $384 $1,166 $1,967 $4,050 Multimanager Technology $407 $1,234 $2,075 $4,248 Target 2015 Allocation $505 $1,514 $2,522 $5,039 Target 2025 Allocation $474 $1,424 $2,380 $4,792 Target 2035 Allocation $575 $1,713 $2,834 $5,562 Target 2045 Allocation $620 $1,839 $3,028 $5,879 - --------------------------------------------------------------------------------------------------------- EQ ADVISORS TRUST: - --------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock $320 $ 978 $1,660 $3,475 EQ/AllianceBernstein Intermediate Government Securities $323 $ 988 $1,675 $3,504 EQ/AllianceBernstein International $351 $1,068 $1,807 $3,753 EQ/AllianceBernstein Large Cap Growth $365 $1,111 $1,877 $3,884 EQ/AllianceBernstein Quality Bond $324 $ 991 $1,680 $3,514 EQ/AllianceBernstein Small Cap Growth $349 $1,062 $1,797 $3,734 EQ/AllianceBernstein Value $332 $1,012 $1,716 $3,581 EQ/Ariel Appreciation II $363 $1,105 $1,867 $3,865 EQ/AXA Rosenberg Value Long/Short Equity $605 $1,795 $2,961 $5,770 EQ/BlackRock Basic Value Equity $329 $1,003 $1,701 $3,552 EQ/BlackRock International Value $362 $1,102 $1,862 $3,856 EQ/Boston Advisors Equity Income $351 $1,068 $1,807 $3,753 EQ/Calvert Socially Responsible $350 $1,065 $1,802 $3,743 EQ/Capital Guardian Growth $341 $1,040 $1,761 $3,667 EQ/Capital Guardian Research $337 $1,028 $1,741 $3,629 EQ/Caywood-Scholl High Yield Bond $337 $1,028 $1,741 $3,629 EQ/Davis New York Venture $365 $1,111 $1,877 $3,884 EQ/Equity 500 Index $297 $ 910 $1,548 $3,259 EQ/Evergreen International Bond $349 $1,062 $1,797 $3,734 EQ/Evergreen Omega $352 $1,071 $1,812 $3,762 EQ/FI Mid Cap $342 $1,043 $1,767 $3,677 EQ/Franklin Income $368 $1,117 $1,887 $3,902 - 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16 Fee table
- ------------------------------------------------------------------------------------------------------------------------------------ If you annuitize at the end of the applicable time period and select a non-life contingent period If you surrender your contract at the end certain annuity option with less than of the applicable time period ten years. - ------------------------------------------------------------------------------------------------------------------------------------ 1 year 3 years 5 years 10 years 1 year 3 years 5 years 10 years EQ ADVISORS TRUST: - ---------------------------------------------------------------------------------------------------------------------------------- EQ/Franklin Small Cap Value $887 $1,657 $2,446 $3,930 N/A $1,657 $2,446 $3,930 EQ/Franklin Templeton Founding Strategy $911 $1,726 $2,558 $4,149 N/A $1,726 $2,558 $4,149 EQ/GAMCO Mergers and Acquisitions $888 $1,659 $2,450 $3,939 N/A $1,659 $2,450 $3,939 EQ/GAMCO Small Company Value $867 $1,598 $2,351 $3,743 N/A $1,598 $2,351 $3,743 EQ/International Core PLUS $873 $1,616 $2,380 $3,800 N/A $1,616 $2,380 $3,800 EQ/International Growth $891 $1,668 $2,465 $3,967 N/A $1,668 $2,465 $3,967 EQ/JPMorgan Core Bond $835 $1,505 $2,198 $3,436 N/A $1,505 $2,198 $3,436 EQ/JPMorgan Value Opportunities $853 $1,557 $2,285 $3,610 N/A $1,557 $2,285 $3,610 EQ/Large Cap Core PLUS $856 $1,566 $2,299 $3,639 N/A $1,566 $2,299 $3,639 EQ/Large Cap Growth PLUS $855 $1,563 $2,294 $3,629 N/A $1,563 $2,294 $3,629 EQ/Legg Mason Value Equity $861 $1,581 $2,323 $3,686 N/A $1,581 $2,323 $3,686 EQ/Long Term Bond $832 $1,496 $2,184 $3,407 N/A $1,496 $2,184 $3,407 EQ/Lord Abbett Growth and Income $860 $1,578 $2,318 $3,677 N/A $1,578 $2,318 $3,677 EQ/Lord Abbett Large Cap Core $865 $1,592 $2,342 $3,724 N/A $1,592 $2,342 $3,724 EQ/Lord Abbett Mid Cap Value $864 $1,589 $2,337 $3,715 N/A $1,589 $2,337 $3,715 EQ/Marsico Focus $877 $1,627 $2,399 $3,837 N/A $1,627 $2,399 $3,837 EQ/Mid Cap Value PLUS $860 $1,578 $2,318 $3,677 N/A $1,578 $2,318 $3,677 EQ/Money Market $825 $1,472 $2,145 $3,328 N/A $1,472 $2,145 $3,328 EQ/Montag & Caldwell Growth $869 $1,604 $2,361 $3,762 N/A $1,604 $2,361 $3,762 EQ/Mutual Shares $890 $1,665 $2,460 $3,958 N/A $1,665 $2,460 $3,958 EQ/Oppenheimer Global $926 $1,769 $2,628 $4,284 N/A $1,769 $2,628 $4,284 EQ/Oppenheimer Main Street Opportunity $910 $1,723 $2,553 $4,140 N/A $1,723 $2,553 $4,140 EQ/Oppenheimer Main Street Small Cap $918 $1,746 $2,591 $4,212 N/A $1,746 $2,591 $4,212 EQ/PIMCO Real Return $848 $1,543 $2,261 $3,562 N/A $1,543 $2,261 $3,562 EQ/Short Duration Bond $837 $1,510 $2,208 $3,455 N/A $1,510 $2,208 $3,455 EQ/Small Company Index $819 $1,454 $2,116 $3,268 N/A $1,454 $2,116 $3,268 EQ/T. Rowe Price Growth Stock $872 $1,613 $2,375 $3,790 N/A $1,613 $2,375 $3,790 EQ/Templeton Growth $894 $1,677 $2,479 $3,995 N/A $1,677 $2,479 $3,995 EQ/UBS Growth and Income $870 $1,607 $2,366 $3,771 N/A $1,607 $2,366 $3,771 EQ/Van Kampen Comstock $859 $1,575 $2,313 $3,667 N/A $1,575 $2,313 $3,667 EQ/Van Kampen Emerging Markets Equity $918 $1,746 $2,591 $4,212 N/A $1,746 $2,591 $4,212 EQ/Van Kampen Mid Cap Growth $864 $1,589 $2,337 $3,715 N/A $1,589 $2,337 $3,715 EQ/Van Kampen Real Estate $890 $1,665 $2,460 $3,958 N/A $1,665 $2,460 $3,958 - ------------------------------------------------------------------------------------------------------------------------------------ - -------------------------------------------------------------------------------------------- If you do not surrender your contract at the end of the applicable time period - -------------------------------------------------------------------------------------------- 1 year 3 years 5 years 10 years - -------------------------------------------------------------------------------------------- EQ ADVISORS TRUST: - -------------------------------------------------------------------------------------------- EQ/Franklin Small Cap Value $371 $1,126 $1,902 $3,930 EQ/Franklin Templeton Founding Strategy $396 $1,200 $2,021 $4,149 EQ/GAMCO Mergers and Acquisitions $372 $1,130 $1,907 $3,939 EQ/GAMCO Small Company Value $350 $1,065 $1,802 $3,743 EQ/International Core PLUS $356 $1,083 $1,832 $3,800 EQ/International Growth $375 $1,139 $1,922 $3,967 EQ/JPMorgan Core Bond $316 $ 966 $1,640 $3,436 EQ/JPMorgan Value Opportunities $335 $1,022 $1,731 $3,610 EQ/Large Cap Core PLUS $338 $1,031 $1,746 $3,639 EQ/Large Cap Growth PLUS $337 $1,028 $1,741 $3,629 EQ/Legg Mason Value Equity $343 $1,046 $1,772 $3,686 EQ/Long Term Bond $313 $ 957 $1,624 $3,407 EQ/Lord Abbett Growth and Income $342 $1,043 $1,767 $3,677 EQ/Lord Abbett Large Cap Core $348 $1,059 $1,792 $3,724 EQ/Lord Abbett Mid Cap Value $347 $1,056 $1,787 $3,715 EQ/Marsico Focus $360 $1,096 $1,852 $3,837 EQ/Mid Cap Value PLUS $342 $1,043 $1,767 $3,677 EQ/Money Market $305 $ 932 $1,583 $3,328 EQ/Montag & Caldwell Growth $352 $1,071 $1,812 $3,762 EQ/Mutual Shares $374 $1,136 $1,917 $3,958 EQ/Oppenheimer Global $412 $1,246 $2,095 $4,284 EQ/Oppenheimer Main Street Opportunity $395 $1,197 $2,016 $4,140 EQ/Oppenheimer Main Street Small Cap $403 $1,221 $2,055 $4,212 EQ/PIMCO Real Return $330 $1,006 $1,706 $3,562 EQ/Short Duration Bond $318 $ 972 $1,650 $3,455 EQ/Small Company Index $298 $ 913 $1,553 $3,268 EQ/T. Rowe Price Growth Stock $355 $1,080 $1,827 $3,790 EQ/Templeton Growth $378 $1,148 $1,937 $3,995 EQ/UBS Growth and Income $353 $1,074 $1,817 $3,771 EQ/Van Kampen Comstock $341 $1,040 $1,761 $3,667 EQ/Van Kampen Emerging Markets Equity $403 $1,221 $2,055 $4,212 EQ/Van Kampen Mid Cap Growth $347 $1,056 $1,787 $3,715 EQ/Van Kampen Real Estate $374 $1,136 $1,917 $3,958 - --------------------------------------------------------------------------------------------
Fee table 17 CONDENSED FINANCIAL INFORMATION Please see Appendix II at the end of this prospectus for the unit values and the number of units outstanding as of the end of the periods shown for each of the variable investment options available as of December 31, 2007. 18 Fee table 1. Contract features and benefits - -------------------------------------------------------------------------------- HOW YOU CAN PURCHASE AND CONTRIBUTE TO YOUR CONTRACT You may purchase a contract by making payments to us that we call "contributions." We require a minimum contribution amount for each type of contract purchased. The minimum contribution amount under our automatic investment program is $20. We discuss the automatic investment program under "About other methods of payment" in "More information" later in this prospectus. The following table summarizes our rules regarding contributions to your contract. All ages in the table refer to the age of the annuitant named in the contract. - -------------------------------------------------------------------------------- The "annuitant" is the person who is the measuring life for determining contract benefits. The annuitant is not necessarily the contract owner. - --------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------- Available for annuitant issue Minimum Contract type ages contributions - ----------------------------------------------------------------------------------------------------------------- NQ 0 through 85 $1,000 (initial) $50 (additional) - ----------------------------------------------------------------------------------------------------------------- Traditional IRA 0 through 85 $50 (initial and additional) - ----------------------------------------------------------------------------------------------------------------- Source of Limitations on Contract type contributions contributions - ----------------------------------------------------------------------------------------------------------------- NQ o After-tax money. o For annuitants up to age 83 at contract issue, additional contributions may be o Paid to us by check or transfer of con- made up to age 84. tract value in a tax deferred exchange under Section 1035 of the Internal Rev- o For annuitants age 84 through 85 at enue Code. contract issue, additional contributions may be made up to one year beyond the o Paid to us by an employer who estab- annuitant's issue age. lishes a payroll deduction program. - ----------------------------------------------------------------------------------------------------------------- Traditional IRA o "Regular" traditional IRA contributions o For annuitants up to age 83 at contract either made by you or paid to us by an issue, additional contributions (rollover or employer who establishes a payroll direct transfer) may be made up to age deduction program. 84. o Additional catch-up o For annuitants age 84 through 85 at contributions. contract issue, additional contributions (rollover or direct transfer) may be made o Eligible rollover distributions from 403(b) up to one year beyond the annuitant's plans, qualified plans and governmental issue age. employer EDC plans. o Regular IRA contributions may not exceed o Rollovers from another traditional indi- $ 5,000. vidual retirement arrangement. o No regular IRA contributions in the calen- o Direct custodian-to-custodian transfers dar year you turn age 70-1/2 and from other traditional individual retire- thereafter. ment arrangements. o Rollover and direct transfer contributions after age 70-1/2 must be net of required minimum distributions. o Additional catch-up contributions of up to $1,000 per calendar year if the owner is at least age 50 but under age 70-1/2 at any time during the calendar year for which the contribution is made. - -----------------------------------------------------------------------------------------------------------------
Contract features and benefits 19
- ----------------------------------------------------------------------------------------------------------------- Available for annuitant issue Minimum Contract type ages contributions - ----------------------------------------------------------------------------------------------------------------- Roth IRA 0 through 85 $50 (initial and additional) - ----------------------------------------------------------------------------------------------------------------- Inherited IRA 0 through 70 o $5,000 (initial) (traditional IRA or Roth IRA) o $1,000 (additional) - ----------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------- Source of Limitations on Contract type contributions contributions - ----------------------------------------------------------------------------------------------------------------- Roth IRA o Regular Roth IRA contributions either o For annuitants up to age 83 at contract made by you or paid to us by an issue, additional contributions may be employer who establishes a payroll made up to age 84. deduction program. o For annuitants age 84 through 85 at o Additional catch-up contributions. contract issue, additional contributions may be made up to one year beyond the o Rollovers from another Roth IRA. annuitant's issue age. o Rollovers from a "designated Roth con- tribution account" under a 401(k) plan o Regular Roth IRA contributions may not or 403(b) plan. exceed $5,000. o Conversion rollovers from a traditional o Contributions are subject to income lim- IRA or other eligible retirement plan. its and other tax rules. See "Contributions to Roth IRAs -- Tax information" later in o Direct transfers from another Roth IRA. this prospectus. o Additional catch-up contributions of up to $1,000 per calendar year if the owner is at least age 50 at any time during the calendar year for which the contribution is made. - ----------------------------------------------------------------------------------------------------------------- Inherited IRA o Direct custodian-to-custodian transfers o Any additional contributions must be (traditional IRA of your interest as death beneficiary of from the same type of IRA of the same or Roth IRA) the deceased owner's traditional indi- deceased owner. vidual retirement arrangement or Roth IRA to an IRA of the same type. o Non-spousal beneficiary direct rollover contributions from qualified plans, 403(b) plans and governmental employer 457(b) plans may be made to a traditional inher- ited IRA contract under specified circumstances. - -----------------------------------------------------------------------------------------------------------------
See "Tax information" later in this prospectus for a more detailed discussion of sources of contributions and certain contribution limitations. We may refuse to accept any contribution if the sum of all contributions under all EQUI-VEST(SM) series and EQUI-VEST(SM) At Retirement(SM) contracts with the same owner or annuitant would then total more than $1,500,000 ($500,000 for owners or annuitants who are 81 and older at contract issue). We may also refuse to accept any contribution if the sum of all contributions under all AXA Equitable annuity accumulation contracts with the same owner or annuitant would then total more than $2,500,000. For information on when contributions are credited, see "Dates and prices at which contract events occur" under "More information" later in this prospectus. 20 Contract features and benefits OWNER AND ANNUITANT REQUIREMENTS Under NQ contracts, the annuitant can be different than the owner. A joint owner may also be named. Only natural persons can be joint owners. This means that an entity such as a corporation cannot be a joint owner. Under traditional and Roth IRA contracts, the owner and annuitant must be the same person. For owner and annuitant requirements for Inherited IRA, see "Inherited IRA beneficiary continuation contract" later in this prospectus. HOW YOU CAN MAKE YOUR CONTRIBUTIONS Except as noted below, contributions must be made by check drawn on a U.S. bank, in U.S. dollars, and made payable to AXA Equitable. We may also apply contributions made pursuant to a 1035 tax-free exchange or a direct transfer. We do not accept third-party checks endorsed to us except for rollover contributions, tax-free exchanges or trustee checks that involve no refund. All checks are subject to our ability to collect the funds. We reserve the right to reject a payment if it is received in an unacceptable form. Additional contributions may also be made by wire transfer or our automatic investment program. The methods of payment are discussed in detail under "About other methods of payment" in "More information" later in this prospectus. Your initial contribution must generally be accompanied by an application and any other form we need to process the contribution. If any information is missing or unclear, we will hold the contribution, whether received via check or wire, in a non-interest bearing suspense account while we try to obtain that information. If we are unable to obtain all of the information we require within five business days after we receive an incomplete application or form, we will inform the financial professional submitting the application on your behalf. We will then return the contribution to you unless you specifically direct us to keep your contribution until we receive the required information. Generally, you may make additional contributions at any time. You may do so in single sum amounts, on a regular basis, or as your financial situation permits. - -------------------------------------------------------------------------------- Our "business day" is generally any day the New York Stock Exchange is open for regular trading and generally ends at 4:00 p.m. Eastern Time (or as of an earlier close of regular trading). A business day does not include a day on which we are not open due to emergency conditions determined by the Securities and Exchange Commission. We may also close early due to such emergency conditions. For more information about our business day and our pricing of transactions, please see "Dates and prices at which contract events occur." - -------------------------------------------------------------------------------- WHAT ARE YOUR INVESTMENT OPTIONS UNDER THE CONTRACT? Your investment options are the variable investment options, the guaranteed interest option and the fixed maturity options. VARIABLE INVESTMENT OPTIONS Your investment results in any one of the variable investment options will depend on the investment performance of the underlying portfolios. You can lose your principal when investing in the variable investment options. In periods of poor market performance, the net return, after charges and expenses, may result in negative yields, including for the EQ/Money Market variable investment option. Listed below are the currently available portfolios, their investment objectives, and their advisers. - -------------------------------------------------------------------------------- You can choose from among the variable investment options, the guaranteed interest option and the fixed maturity options. - -------------------------------------------------------------------------------- Contract features and benefits 21 PORTFOLIOS OF THE TRUSTS The AXA Allocation Portfolios and the EQ/Franklin Templeton Founding Strategy Portfolio offer contract owners a convenient opportunity to invest in other portfolios that are managed and have been selected for inclusion in the AXA Allocation Portfolios and the EQ/Franklin Templeton Founding Strategy Portfolio by AXA Equitable. AXA Advisors, LLC, an affiliated broker-dealer of AXA Equitable, may promote the benefits of such portfolios to contract owners and/or suggest, incidental to the sale of this contract, that contract owners consider whether allocating some or all of their account value to such portfolios is consistent with their desired investment objectives. In doing so, AXA Equitable, and/or its affiliates, may be subject to conflicts of interest insofar as AXA Equitable may derive greater revenues from the AXA Allocation Portfolios and the EQ/Franklin Templeton Founding Strategy Portfolio than certain other portfolios available to you under your contract. In addition, due to the relative diversification of the underlying portfolios covering various asset classes and categories, the AXA Allocation Portfolios and the EQ/Franklin Templeton Founding Strategy Portfolio may enable AXA Equitable to more efficiently manage AXA Equitable's financial risks associated with certain guaranteed features. Please see "Allocating your contributions" later in this section for more information about your role in managing your allocations. AXA Equitable serves as the investment manager of the portfolios of AXA Premier VIP Trust and EQ Advisors Trust. For some portfolios, AXA Equitable has entered into sub-advisory agreements with investment advisers (the "sub-advisers") to carry out the day-to-day investment decisions for the portfolios. As such, AXA Equitable oversees the activities of the sub-advisers with respect to the Trusts and is responsible for retaining or discontinuing the services of those sub-advisers. The chart below indicates the objective and investment manager or sub-adviser(s), as applicable, for each portfolio.
- ------------------------------------------------------------------------------------------------------------------------------------ AXA Premier VIP Trust Investment Manager (or Sub-Adviser(s), as Portfolio Name Objective applicable) - ------------------------------------------------------------------------------------------------------------------------------------ AXA AGGRESSIVE ALLOCATION Seeks long-term capital appreciation. o AXA Equitable - ------------------------------------------------------------------------------------------------------------------------------------ AXA CONSERVATIVE ALLOCATION Seeks a high level of current income. o AXA Equitable - ------------------------------------------------------------------------------------------------------------------------------------ AXA CONSERVATIVE-PLUS Seeks current income and growth of capital, with a o AXA Equitable ALLOCATION greater emphasis on current income. - ------------------------------------------------------------------------------------------------------------------------------------ AXA MODERATE ALLOCATION Seeks long-term capital appreciation and current income. o AXA Equitable - ------------------------------------------------------------------------------------------------------------------------------------ AXA MODERATE-PLUS Seeks long-term capital appreciation and current income, o AXA Equitable ALLOCATION with a greater emphasis on capital appreciation. - ------------------------------------------------------------------------------------------------------------------------------------ MULTIMANAGER AGGRESSIVE Long-term growth of capital. o AllianceBernstein L.P. EQUITY o ClearBridge Advisors, LLC o Legg Mason Capital Management, Inc. o Marsico Capital Management, LLC - ------------------------------------------------------------------------------------------------------------------------------------ MULTIMANAGER CORE BOND To seek a balance of high current income and capital o BlackRock Financial Management, Inc. appreciation, consistent with a prudent level of risk. o Pacific Investment Management Company LLC - ------------------------------------------------------------------------------------------------------------------------------------ MULTIMANAGER HEALTH CARE Long-term growth of capital. o Invesco Aim Capital Management, Inc. o RCM Capital Management LLC o Wellington Management Company, LLP - ------------------------------------------------------------------------------------------------------------------------------------ MULTIMANAGER HIGH YIELD High total return through a combination of current o Pacific Investment Management Company LLC income and capital appreciation. o Post Advisory Group, LLC - ------------------------------------------------------------------------------------------------------------------------------------ MULTIMANAGER INTERNATIONAL Long-term growth of capital. o AllianceBernstein L.P. EQUITY o JPMorgan Investment Management Inc. o Marsico Capital Management, LLC - ------------------------------------------------------------------------------------------------------------------------------------ MULTIMANAGER LARGE CAP Long-term growth of capital. o AllianceBernstein L.P. CORE EQUITY o Janus Capital Management LLC o Thornburg Investment Management, Inc. - ------------------------------------------------------------------------------------------------------------------------------------
22 Contract features and benefits
- ------------------------------------------------------------------------------------------------------------------------------------ AXA Premier VIP Trust Investment Manager (or Sub-Adviser(s), as Portfolio Name Objective applicable) - ------------------------------------------------------------------------------------------------------------------------------------ MULTIMANAGER LARGE CAP Long-term growth of capital. o RCM Capital Management LLC GROWTH o TCW Investment Management Company o T. Rowe Price Associates, Inc. - ------------------------------------------------------------------------------------------------------------------------------------ MULTIMANAGER LARGE CAP Long-term growth of capital. o AllianceBernstein L.P. VALUE o Institutional Capital LLC o MFS Investment Management - ------------------------------------------------------------------------------------------------------------------------------------ MULTIMANAGER MID CAP Long-term growth of capital. o AllianceBernstein L.P. GROWTH o Franklin Advisers, Inc. o Provident Investment Counsel, Inc. - ------------------------------------------------------------------------------------------------------------------------------------ MULTIMANAGER MID CAP VALUE Long-term growth of capital. o AXA Rosenberg Investment Management LLC o TCW Investment Management Company o Wellington Management Company, LLP - ------------------------------------------------------------------------------------------------------------------------------------ MULTIMANAGER SMALL CAP Long-term growth of capital. o Eagle Asset Management, Inc. GROWTH o Wells Capital Management Inc. - ------------------------------------------------------------------------------------------------------------------------------------ MULTIMANAGER SMALL CAP Long-term growth of capital. o Franklin Advisory Services, LLC VALUE o Lazard Asset Management LLC - ------------------------------------------------------------------------------------------------------------------------------------ MULTIMANAGER TECHNOLOGY Long-term growth of capital. o Firsthand Capital Management, Inc. o RCM Capital Management LLC o Wellington Management Company, LLP - ------------------------------------------------------------------------------------------------------------------------------------ TARGET 2015 ALLOCATION Seeks the highest total return over time consistent with o AXA Equitable its asset mix. Total return includes capital growth and income. - ------------------------------------------------------------------------------------------------------------------------------------ TARGET 2025 ALLOCATION Seeks the highest total return over time consistent with o AXA Equitable its asset mix. Total return includes capital growth and income. - ------------------------------------------------------------------------------------------------------------------------------------ TARGET 2035 ALLOCATION Seeks the highest total return over time consistent with o AXA Equitable its asset mix. Total return includes capital growth and income. - ------------------------------------------------------------------------------------------------------------------------------------ TARGET 2045 ALLOCATION Seeks the highest total return over time consistent with o AXA Equitable its asset mix. Total return includes capital growth and income. - ------------------------------------------------------------------------------------------------------------------------------------ EQ Advisors Trust Investment Manager (or Sub-Adviser(s), as Portfolio Name Objective applicable) - ------------------------------------------------------------------------------------------------------------------------------------ EQ/ALLIANCEBERNSTEIN COM- Seeks to achieve long-term growth of capital. o AllianceBernstein L.P. MON STOCK - ------------------------------------------------------------------------------------------------------------------------------------ EQ/ALLIANCEBERNSTEIN INTER- Seeks to achieve high current income consistent with o AllianceBernstein L.P. MEDIATE GOVERNMENT relative stability of principal. SECURITIES - ------------------------------------------------------------------------------------------------------------------------------------ EQ/ALLIANCEBERNSTEIN INTER- Seeks to achieve long-term growth of capital. o AllianceBernstein L.P. NATIONAL - ------------------------------------------------------------------------------------------------------------------------------------
Contract features and benefits 23
- ------------------------------------------------------------------------------------------------------------------------------------ EQ Advisors Trust Investment Manager (or Sub-Adviser(s), as Portfolio Name Objective applicable) - ------------------------------------------------------------------------------------------------------------------------------------ EQ/ALLIANCEBERNSTEIN LARGE Seeks to achieve long-term growth of capital. o AllianceBernstein L.P. CAP GROWTH - ------------------------------------------------------------------------------------------------------------------------------------ EQ/ALLIANCEBERNSTEIN QUALITY Seeks to achieve high current income consistent with o AllianceBernstein L.P. BOND moderate risk to capital. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/ALLIANCEBERNSTEIN SMALL Seeks to achieve long-term growth of capital. o AllianceBernstein L.P. CAP GROWTH - ------------------------------------------------------------------------------------------------------------------------------------ EQ/ALLIANCEBERNSTEIN VALUE Seeks to achieve capital appreciation. o AllianceBernstein L.P. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/ARIEL APPRECIATION II Seeks to achieve long-term capital appreciation. o Ariel Capital Management, LLC - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AXA ROSENBERG VALUE Seeks to increase value through bull markets and bear o AXA Rosenberg Investment Management LLC LONG/SHORT EQUITY markets using strategies that are designed to limit expo- sure to general equity market risk. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/BLACKROCK BASIC VALUE Seeks to achieve capital appreciation and secondarily, o BlackRock Investment Management, LLC EQUITY income. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/BLACKROCK INTERNATIONAL Seeks to provide current income and long-term growth of o BlackRock Investment Management VALUE income, accompanied by growth of capital. International Limited - ------------------------------------------------------------------------------------------------------------------------------------ EQ/BOSTON ADVISORS EQUITY Seeks to achieve a combination of growth and income to o Boston Advisors, LLC INCOME achieve an above-average and consistent total return. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/CALVERT SOCIALLY Seeks to achieve long-term capital appreciation. o Calvert Asset Management Company, Inc. RESPONSIBLE o Bridgeway Capital Management, Inc. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/CAPITAL GUARDIAN GROWTH Seeks to achieve long-term growth of capital. o Capital Guardian Trust Company - ------------------------------------------------------------------------------------------------------------------------------------ EQ/CAPITAL GUARDIAN Seeks to achieve long-term growth of capital. o Capital Guardian Trust Company RESEARCH - ------------------------------------------------------------------------------------------------------------------------------------ EQ/CAYWOOD-SCHOLL HIGH Seeks to maximize current income. o Caywood-Scholl Capital Management YIELD BOND - ------------------------------------------------------------------------------------------------------------------------------------ EQ/DAVIS NEW YORK VENTURE Seeks to achieve long-term growth of capital. o Davis Selected Advisers, L.P. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/EQUITY 500 INDEX Seeks to achieve a total return before expenses that o AllianceBernstein L.P. approximates the total return performance of the S&P 500 Index, including reinvestment of dividends, at a risk level consistent with that of the S&P 500 Index. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/EVERGREEN INTERNATIONAL Seeks to achieve capital growth and current income. o Evergreen Investment Management BOND Company, LLC o First International Advisors, LLC (dba "Evergreen International") - ------------------------------------------------------------------------------------------------------------------------------------ EQ/EVERGREEN OMEGA Seeks to achieve long-term capital growth. o Evergreen Investment Management Company, LLC - ------------------------------------------------------------------------------------------------------------------------------------ EQ/FI MID CAP Seeks to achieve long-term growth of capital. o Fidelity Management & Research Company - ------------------------------------------------------------------------------------------------------------------------------------ EQ/FRANKLIN INCOME Seeks to maximize income while maintaining prospects o Franklin Advisers, Inc. for capital appreciation. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/FRANKLIN SMALL CAP VALUE Seeks to achieve long-term total return. o Franklin Advisory Services, LLC - ------------------------------------------------------------------------------------------------------------------------------------ EQ/FRANKLIN TEMPLETON Primarily seeks capital appreciation and secondarily o AXA Equitable FOUNDING STRATEGY seeks income. - ------------------------------------------------------------------------------------------------------------------------------------
24 Contract features and benefits
- ------------------------------------------------------------------------------------------------------------------------------------ EQ Advisors Trust Investment Manager (or Sub-Adviser(s), as Portfolio Name Objective applicable) - ------------------------------------------------------------------------------------------------------------------------------------ EQ/GAMCO MERGERS AND Seeks to achieve capital appreciation. o GAMCO Asset Management Inc. ACQUISITIONS - ------------------------------------------------------------------------------------------------------------------------------------ EQ/GAMCO SMALL COMPANY Seeks to maximize capital appreciation. o GAMCO Asset Management Inc. VALUE - ------------------------------------------------------------------------------------------------------------------------------------ EQ/INTERNATIONAL CORE PLUS Seeks to achieve long-term growth of capital. o AXA Equitable o Mellon Capital Management Corporation o Wentworth Hauser and Violich, Inc. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/INTERNATIONAL GROWTH Seeks to achieve capital appreciation. o MFS Investment Management, Inc. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/JPMORGAN CORE BOND Seeks to provide a high total return consistent with mod- o JPMorgan Investment Management Inc. erate risk to capital and maintenance of liquidity. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/JPMORGAN VALUE Seeks to achieve long-term capital appreciation. o JPMorgan Investment Management Inc. OPPORTUNITIES - ------------------------------------------------------------------------------------------------------------------------------------ EQ/LARGE CAP CORE PLUS Seeks to achieve long-term growth of capital with a sec- o AXA Equitable ondary objective to seek reasonable current income. For o Institutional Capital LLC purposes of this Portfolio, the words "reasonable current o Mellon Capital Management Corporation income" mean moderate income. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/LARGE CAP GROWTH PLUS Seeks to provide long-term capital growth o AXA Equitable o Marsico Capital Management, LLC o Mellon Capital Management Corporation - ------------------------------------------------------------------------------------------------------------------------------------ EQ/LEGG MASON VALUE EQUITY Seeks to achieve long-term growth of capital. o Legg Mason Capital Management, Inc. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/LONG TERM BOND Seeks to maximize income and capital appreciation o BlackRock Financial Management, Inc. through investment in long-maturity debt obligations. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/LORD ABBETT GROWTH AND Seeks to achieve capital appreciation and growth of o Lord, Abbett & Co. LLC INCOME income without excessive fluctuation in market value. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/LORD ABBETT LARGE CAP Seeks to achieve capital appreciation and growth of o Lord, Abbett & Co. LLC CORE income with reasonable risk. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/LORD ABBETT MID CAP VALUE Seeks to achieve capital appreciation. o Lord, Abbett & Co. LLC - ------------------------------------------------------------------------------------------------------------------------------------ EQ/MARSICO FOCUS Seeks to achieve long-term growth of capital. o Marsico Capital Management, LLC - ------------------------------------------------------------------------------------------------------------------------------------ EQ/MID CAP VALUE PLUS Seeks to achieve long-term capital appreciation. o AXA Equitable o Mellon Capital Management Corporation o Wellington Management Company LLP - ------------------------------------------------------------------------------------------------------------------------------------ EQ/MONEY MARKET Seeks to obtain a high level of current income, preserve o The Dreyfus Corporation its assets and maintain liquidity. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/MONTAG & CALDWELL Seeks to achieve capital appreciation. o Montag & Caldwell, Inc. GROWTH - ------------------------------------------------------------------------------------------------------------------------------------ EQ/MUTUAL SHARES Seeks to achieve capital appreciation, which may occa- o Franklin Mutual Advisers, LLC sionally be short-term, and secondarily, income. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/OPPENHEIMER GLOBAL Seeks to achieve capital appreciation. o OppenheimerFunds, Inc. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/OPPENHEIMER MAIN STREET Seeks to achieve long-term capital appreciation. o OppenheimerFunds, Inc. OPPORTUNITY - ------------------------------------------------------------------------------------------------------------------------------------
Contract features and benefits 25
- ------------------------------------------------------------------------------------------------------------------------------------ EQ Advisors Trust Investment Manager (or Sub-Adviser(s), as Portfolio Name Objective applicable) - ------------------------------------------------------------------------------------------------------------------------------------ EQ/OPPENHEIMER MAIN STREET Seeks to achieve capital appreciation. o OppenheimerFunds, Inc. SMALL CAP - ------------------------------------------------------------------------------------------------------------------------------------ EQ/PIMCO REAL RETURN Seeks to achieve maximum real return consistent with o Pacific Investment Management Company, preservation of real capital and prudent investment LLC management. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/SHORT DURATION BOND Seeks to achieve current income with reduced volatility o BlackRock Financial Management, Inc. of principal. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/SMALL COMPANY INDEX Seeks to replicate as closely as possible (before the o AllianceBernstein L.P. deduction of Portfolio expenses) the total return of the Russell 2000 Index. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/T. ROWE PRICE GROWTH Seeks to achieve long-term capital appreciation and o T. Rowe Price Associates, Inc. STOCK secondarily, income. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/TEMPLETON GROWTH Seeks to achieve long-term capital growth. o Templeton Global Advisors Limited - ------------------------------------------------------------------------------------------------------------------------------------ EQ/UBS GROWTH AND INCOME Seeks to achieve total return through capital appreciation o UBS Global Asset Management with income as a secondary consideration. (Americas) Inc. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/VAN KAMPEN COMSTOCK Seeks to achieve capital growth and income. o Morgan Stanley Investment Management Inc. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/VAN KAMPEN EMERGING Seeks to achieve long-term capital appreciation. o Morgan Stanley Investment Management Inc. MARKETS EQUITY - ------------------------------------------------------------------------------------------------------------------------------------ EQ/VAN KAMPEN MID CAP Seeks to achieve capital growth. o Morgan Stanley Investment Management Inc. GROWTH - ------------------------------------------------------------------------------------------------------------------------------------ EQ/VAN KAMPEN REAL ESTATE Seeks to provide above average current income and long- o Morgan Stanley Investment Management Inc. term capital appreciation. - ------------------------------------------------------------------------------------------------------------------------------------
You should consider the investment objectives, risks and charges and expenses of the portfolios carefully before investing. The prospectuses for the Trusts contain this and other important information about the portfolios. The prospectuses should be read carefully before investing. 26 Contract features and benefits GUARANTEED INTEREST OPTION The guaranteed interest option is part of our general account and pays interest at guaranteed rates. We discuss our general account under "More information" later in this prospectus. We assign an interest rate to each amount allocated to the guaranteed interest option. This rate is guaranteed for a specified period. Therefore, different interest rates may apply to different amounts in the guaranteed interest option. We credit interest daily to amounts in the guaranteed interest option. There are three levels of interest in effect at the same time in the guaranteed interest option: (1) the minimum interest rate guaranteed over the life of the contract, (2) the annual minimum guaranteed interest rate for the calendar year, and (3) the current interest rate. We set current interest rates periodically, according to our procedures that we have in effect at the time. All interest rates are effective annual rates, but before deduction of annual administrative charges or any withdrawal charges. The annual minimum guaranteed interest rate for 2008 is either 2.75% or 3.0%. Depending on the state where your contract is issued, the lifetime minimum guaranteed interest rate ranges from 1.0% to 3.0%. The lifetime minimum guaranteed interest rate is shown in your contract. The annual minimum guaranteed interest rate will never be less than the lifetime minimum guaranteed interest rate. Check with your financial professional as to which rate applies in your state. Current rates will never be less than the annual minimum guaranteed interest rate. FIXED MATURITY OPTIONS We offer fixed maturity options with maturity dates generally ranging from one to ten years. We will not accept allocations to a fixed maturity option if on the date the contribution or transfer is to be applied the rate to maturity is 3%. This means that at points in time there may be no fixed maturity options available. You can allocate your contributions to one or more of these fixed maturity options. However, you may not allocate more than one contribution to any one fixed maturity option. These amounts become part of a non-unitized separate account. They will accumulate interest at the "rate to maturity" for each fixed maturity option. The total amount you allocate to and accumulate in each fixed maturity option is called the "fixed maturity amount." The fixed maturity options are not available in contracts issued on or after August 13, 2001 in Washington. For contracts issued in New York, see "Charges and expenses" for information on withdrawal charges when amounts are allocated to the fixed maturity options. - -------------------------------------------------------------------------------- Fixed maturity options generally range from one to ten years to maturity. - -------------------------------------------------------------------------------- The rate to maturity you will receive for each fixed maturity option is the rate to maturity in effect for new contributions allocated to that fixed maturity option on the date we apply your contribution. On the maturity date of a fixed maturity option, your fixed maturity amount, assuming you have not made any withdrawals or transfers, will equal your contribution to that fixed maturity option plus interest, at the rate to maturity for that contribution. This is the fixed maturity option's "maturity value." Before maturity, the current value we will report for your fixed maturity amount will reflect a market value adjustment. Your current value will reflect the market value adjustment that we would make if you were to withdraw all of your fixed maturity amounts on the date of the report. We call this your "market adjusted amount." FIXED MATURITY OPTIONS AND MATURITY DATES. We currently offer fixed maturity options ending on June 15 for maturity years ranging from one through ten. Not all of these fixed maturity options will be available for annuitant ages 76 and above. See "Allocating your contributions" below. As fixed maturity options expire, we expect to add maturity years so that generally 10 fixed maturity options are available at any time. We will not accept allocations to a fixed maturity option if on the date the contribution is to be applied: o you previously allocated a contribution or made a transfer to the same fixed maturity option; or o the rate to maturity is 3%; or o the fixed maturity option's maturity date is within 45 days; or o the fixed maturity option's maturity date is later than the date annuity payments are to begin. YOUR CHOICES AT THE MATURITY DATE. We will notify you at least 45 days before each of your fixed maturity options is scheduled to mature. At that time, you may choose to have one of the following take place on the maturity date, as long as none of the conditions listed above or in "Allocating your contributions," below would apply: (a) transfer the maturity value into another available fixed maturity option, or into any of the variable investment options; or (b) withdraw the maturity value (there may be a withdrawal charge). If we do not receive your choice on or before the fixed maturity option's maturity date, we will automatically transfer your maturity value into the next available fixed maturity option (or another investment option if we are required to do so by any state regulation). As of February 15, 2008, the next available maturity date was June 15, 2013 (see "About our fixed maturity options" in "More Information," later in this prospectus). We may change our procedures in the future. MARKET VALUE ADJUSTMENT. If you make any withdrawals (including transfers, surrender or termination of your contract, or when we make deductions for charges) from a fixed maturity option before it matures we will make a market value adjustment, which will increase or decrease any fixed maturity amount you have in that fixed maturity option. The amount of the adjustment will depend on two factors: (a) the difference between the rate to maturity that applies to the amount being withdrawn and the rate to maturity in effect at that time for new allocations to that same fixed maturity option, and (b) the length of time remaining until the maturity date. Contract features and benefits 27 In general, if interest rates rise from the time that you originally allocate an amount to a fixed maturity option to the time that you take a withdrawal, the market value adjustment will be negative. Likewise, if interest rates drop at the end of that time, the market value adjustment will be positive. Also, the amount of the market value adjustment, either up or down, will be greater the longer the time remaining until the fixed maturity option's maturity date. Therefore, it is possible that the market value adjustment could greatly reduce your value in the fixed maturity options, particularly in the fixed maturity options with later maturity dates. We provide an illustration of the market adjusted amount of specified maturity values, an explanation of how we calculate the market value adjustment, and information concerning our general account and investments purchased with amounts allocated to the fixed maturity options, in "More information" later in this prospectus. Appendix III at the end of this prospectus provides an example of how the market value adjustment is calculated. SELECTING YOUR INVESTMENT METHOD You must choose one of the following methods for selecting your investment options: o MAXIMUM INVESTMENT OPTIONS CHOICE. Under this method, you may allocate contributions or transfer funds to any of the available investment options listed in A and B in the investment options chart. You can make transfers whenever you choose. However, there will be restrictions on the amount you can transfer out of the guaranteed interest option listed in A. o MAXIMUM TRANSFER FLEXIBILITY. Under this method, you may allocate contributions or transfer funds to any of the available investment options listed in A in the investment options chart and no transfer restrictions will apply. TEMPORARY REMOVAL OF TRANSFER RESTRICTIONS THAT APPLY TO THE INVESTMENT METHODS. From time to time, we may remove certain restrictions that apply to your investment method. If we do so, we will tell you. For example, if you elect the "Maximum investment options choice" method, for a limited time there will be no restrictions on the amount you can transfer out of the guaranteed interest option listed in group "A." If you elect the "Maximum transfer flexibility" method, for a limited time you will be able to use the fixed income variable investment options listed in group "B" as well as the fixed maturity options. We will also tell you at least 45 days in advance of the day that we intend to reimpose the transfer restrictions. When we reimpose the transfer restrictions, if you elect the "Maximum investment options choice" method, limits on transfers out of the guaranteed interest option will again apply. If you elect the "Maximum transfer flexibility" method, you will no longer be permitted to allocate contributions to or transfer amounts into the variable investment options in group "B" (including through our rebalancing program) or the fixed maturity options. However, amounts that are in any investment options that are not available under "Maximum transfer flexibility" can remain in these options.
- ------------------------------------------------------------------------------------------------------------------- Investment Options - ------------------------------------------------------------------------------------------------------------------- A - ------------------------------------------------------------------------------------------------------------------- o Guaranteed Interest Option - ------------------------------------------------------------------------------------------------------------------- Domestic stocks - ------------------------------------------------------------------------------------------------------------------- o AXA Aggressive Allocation o EQ/Lord Abbett Mid Cap Value o AXA Moderate-Plus Allocation o EQ/Marsico Focus o EQ/AllianceBernstein Common Stock o EQ/Mid Cap Value Plus o EQ/AllianceBernstein Large Cap o EQ/Montag & Caldwell Growth Growth o EQ/Mutual Shares o EQ/AllianceBernstein Small Cap o EQ/Oppenheimer Main Street Growth Opportunity o EQ/AllianceBernstein Value o EQ/Oppenheimer Main Street Small o EQ/Ariel Appreciation II Cap o EQ/AXA Rosenberg Value Long/Short o EQ/Small Company Index Equity o EQ/T. Rowe Price Growth Stock o EQ/BlackRock Basic Value Equity o EQ/Templeton Growth o EQ/Boston Advisors Equity Income o EQ/UBS Growth and Income o EQ/Calvert Socially Responsible o EQ/Van Kampen Comstock o EQ/Capital Guardian Growth o EQ/Van Kampen Mid Cap Growth o EQ/Capital Guardian Research o EQ/Van Kampen Real Estate o EQ/Davis New York Venture o Multimanager Aggressive Equity o EQ/Equity 500 Index o Multimanager Health Care o EQ/Evergreen Omega o Multimanager Large Cap Core Equity o EQ/FI Mid Cap o Multimanager Large Cap Growth o EQ/Franklin Small Cap Value o Multimanager Large Cap Value o EQ/Franklin Templeton Founding o Multimanager Mid Cap Growth Strategy o Multimanager Mid Cap Value o EQ/GAMCO Mergers and Acquisitions o Multimanager Small Cap Growth o EQ/GAMCO Small Company Value o Multimanager Small Cap Value o EQ/JPMorgan Value Opportunities o Multimanager Technology o EQ/Large Cap Core PLUS o Target 2015 Allocation(1) o EQ/Large Cap Growth PLUS o Target 2025 Allocation(1) o EQ/Legg Mason Value Equity o Target 2035 Allocation(1) o EQ/Lord Abbett Growth and Income o Target 2045 Allocation(1) o EQ/Lord Abbett Large Cap Core - ------------------------------------------------------------------------------------------------------------------- International stocks - ------------------------------------------------------------------------------------------------------------------- o EQ/AllianceBernstein International o EQ/Van Kampen Emerging Markets Equity o EQ/BlackRock International Value o EQ/International Core PLUS o EQ/International Growth o Multimanager International Equity o EQ/Oppenheimer Global - ------------------------------------------------------------------------------------------------------------------- Balanced/hybrid - ------------------------------------------------------------------------------------------------------------------- o AXA Moderate Allocation - ------------------------------------------------------------------------------------------------------------------- B - ------------------------------------------------------------------------------------------------------------------- Fixed income - ------------------------------------------------------------------------------------------------------------------- o AXA Conservative Allocation o EQ/JPMorgan Core Bond o AXA Conservative-Plus Allocation o EQ/Long Term Bond o EQ/AllianceBernstein Intermediate o EQ/Money Market Government Securities o EQ/PIMCO Real Return o EQ/AllianceBernstein Quality Bond o EQ/Short Duration Bond o EQ/Caywood-Scholl High Yield Bond o Multimanager Core Bond o EQ/Evergreen International Bond o Multimanager High Yield o EQ/Franklin Income - ------------------------------------------------------------------------------------------------------------------- Fixed maturity options - ------------------------------------------------------------------------------------------------------------------- Transfer restrictions apply as indicated above under "Fixed maturity options and maturity dates." Fixed maturity options are only available in states where approved. - -------------------------------------------------------------------------------------------------------------------
(1) Since these investment options, collectively, the "Target Allocation investment options," as they approach their respective target dates, and thereafter, are expected to invest more heavily in fixed income securities, we reserve the right to make them group "B" investment options at or after their respective target dates. Please note that if you select the "Maximum transfer flexibility" method, and have included any of the Target Allocation investment options among your investment options, you will be deemed to have changed to the "maximum investment options choice" method. If you select the "maximum transfer flexibility" method but have not included any of the Target Allocation investment options among your allocations, you will not be changed to the alternate method but those options will no longer be available to you. 28 Contract features and benefits ALLOCATING YOUR CONTRIBUTIONS Once you have made your investment method choice, you may allocate your contributions to one or more, or all, of the investment options that you have chosen, subject to any restrictions under the investment method you chose. However, you may not allocate more than one contribution to any one fixed maturity option. If the annuitant is age 76 or older, you may only allocate contributions to fixed maturity options with maturities of five years or less. Allocations must be in whole percentages and you may change your allocation percentages at any time. However, the total of your allocations must equal 100%. Once your contributions are allocated to the investment options they become part of your account value. We discuss account value in "Determining your contract's value," later in this prospectus. After your contract is issued, you may request that we add or eliminate any variable investment options that result in transfer restrictions. We reserve the right to deny your request. See "Transferring your money among investment options" later in this prospectus. The contract is between you and AXA Equitable. The contract is not an investment advisory account, and AXA Equitable is not providing any investment advice or managing the allocations under your contract. In the absence of a specific written arrangement to the contrary, you, as the owner of the contract, have the sole authority to make investment allocations and other decisions under the contract. Your AXA Advisors financial professional is acting as a broker-dealer registered representative, and is not authorized to act as an investment advisor or to manage the allocations under your contract. If your financial professional is a registered representative with a broker-dealer other than AXA Advisors, you should speak with him/her regarding any different arrangements that may apply. o PRINCIPAL ASSURANCE ALLOCATION. Under this allocation program, you select a fixed maturity option. We specify the portion of your initial contribution to be allocated to that fixed maturity option in an amount that will cause the maturity value to equal the amount of your entire initial contribution on the fixed maturity option's maturity date. The maturity date you select generally may not be later than 10 years, or earlier than 6 years from your contract date. You allocate the rest of your contribution to the variable investment options however you choose. For example, if your initial contribution is $10,000, and on February 15, 2008 you chose the fixed maturity option with a maturity date of June 15, 2017, since the rate to maturity was 4.45% on February 15, 2008, we would have allocated $6,660 to that fixed maturity option and the balance to your choice of variable investment options. On the maturity date your value in the fixed maturity option would be $10,000. The principal assurance allocation is only available for annuitant ages 75 or younger when the contract is issued. If you are purchasing an EQUI-VEST(SM) traditional IRA contract, before you select a maturity year that would extend beyond the year in which you will reach age 70-1/2, you should consider whether your value in the variable investment options, or your other traditional IRA funds are sufficient to meet your required minimum distributions. See "Tax information" later in this prospectus. YOUR RIGHT TO CANCEL WITHIN A CERTAIN NUMBER OF DAYS If for any reason you are not satisfied with your contract, you may return it to us for a refund. To exercise this cancellation right you must mail the contract directly to our processing office within 10 days after you receive it. If state law requires, this "free look" period may be longer. For contributions allocated to the variable investment options, your refund will equal your contributions, reflecting any investment gain or loss that also reflects the daily charges we deduct. For contributions allocated to the guaranteed interest option, your refund will equal the amount of the contributions but will not include interest. For contributions allocated to the fixed maturity options, your refund will equal the amount of the contribution allocated to the fixed maturity options reflecting any positive or negative market value adjustments. Some states require that we refund the full amount of your contribution (not including any investment gain or loss, interest, or market value adjustment). For an IRA contract returned to us within seven days after you receive it, we are required to refund the full amount of your contribution. We may require that you wait six months before you apply for a contract with us again if: o you cancel your contract during the free look period; or o you change your mind before you receive your contract whether we have received your contribution or not. Also, if you fully or partially convert an existing traditional IRA contract to a Roth IRA contract, you may cancel your Roth IRA contract and return to a traditional IRA contract. Our processing office, or your financial professional, can provide you with the cancellation instructions. Ask for the form entitled "EQUI-VEST(SM) Roth IRA Re-Characterization Form." In addition to the cancellation right described above, you have the right to surrender your contract, rather than cancel it. Please see "Surrender of your contract to receive its cash value," later in this prospectus. Surrendering your contract may yield results different than canceling your contract, including a greater potential for taxable income. In some cases, your cash value upon surrender may be greater than your contributions to the contract. Please see "Tax information," later in this Propectus for possible consequences of cancelling your contract. DEATH BENEFIT Your contract provides a death benefit. If you do not elect the ratcheted death benefit described below, the death benefit is equal to the greater of (i) the account value (without adjustment for any otherwise applicable negative market value adjustment) as of the date we receive satisfactory proof of death, any required instructions for the method of payment, information and forms necessary to effect payment or (ii) the "standard death benefit." The standard death benefit is equal to your total contributions, adjusted for withdrawals and any withdrawal charges, and any taxes that apply. Depending upon the state where your contract is issued, each withdrawal you make will Contract features and benefits 29 reduce the amount of your current standard death benefit on a pro rata basis, in the same manner as described under "Ratcheted death benefit" below. If you elect the ratcheted death benefit, the death benefit is equal to the greater of: (a) your account value (without any negative market value adjustment that would otherwise apply) as of the date we receive satisfactory proof of the annuitant's death, any required instructions for the method of payment, information and forms necessary to effect payments or (b) the ratcheted death benefit on the date of the annuitant's death, less any subsequent withdrawals, withdrawal charges and taxes that apply. RATCHETED DEATH BENEFIT For an additional fee, you may elect the ratcheted death benefit. On the contract date, your ratcheted death benefit equals your initial contribution. Then, on each third contract date anniversary, until the annuitant is age 85, we will determine your ratcheted death benefit by comparing your current ratcheted death benefit to your account value on that third contract date anniversary. If your account value is higher than your ratcheted death benefit, we will increase your ratcheted death benefit to equal your account value. On the other hand, if your account value on the third contract date anniversary is less than your ratcheted death benefit, we will not adjust your ratcheted death benefit either up or down. If you make additional contributions, we will increase your current ratcheted death benefit by the dollar amount of the contribution on the date the contribution is allocated to your investment options. If you take a withdrawal from your contract, we will adjust your death benefit on the date you take the withdrawal. Each withdrawal you make will reduce the amount of your current ratcheted death benefit on a pro rata basis. Reduction on a pro rata basis means that we calculate the percentage of your current account value that is being withdrawn and we reduce your current ratcheted death benefit by that same percentage. For example, if your account value is $30,000 and you withdraw $12,000, you have withdrawn 40% of your account value. If your ratcheted death benefit was $40,000 before the withdrawal, it would be reduced by $16,000 ($40,000 x .40) and your new ratcheted death benefit after the withdrawal would be $24,000 ($40,000 - $16,000). You may only elect the ratcheted death benefit at the time you apply for a contract if the annuitant is not older than age 75 when the contract is issued. Once you elect this benefit, you may not cancel it as long as the contract is in effect. See Appendix IV at the end of this prospectus for an example of how we calculate the death benefit. Before purchasing the ratcheted death benefit for your IRA contract, you and your tax adviser should carefully consider the following. If you intend to satisfy your lifetime Required Minimum Distribution ("RMD") requirements which begin after age 70-1/2 for this contract by taking account-based withdrawals (as opposed to receiving annuity payments), you should know that under the terms of the annuity contract such withdrawals will reduce your ratcheted death benefit and may have the effect of eliminating your ability to utilize the entire benefit. Also, purchasing the ratcheted death benefit may increase the amount of RMDs you are required to withdraw under the tax rules if you elect withdrawals and not annuity payments. For more information see "Contract features and benefits" and "Tax information" later in this prospectus. INHERITED IRA BENEFICIARY CONTINUATION CONTRACT This contract is available to an individual beneficiary of a traditional IRA or a Roth IRA where the deceased owner held the individual retirement account or annuity (or Roth individual retirement account or annuity) with an insurance company or financial institution other than AXA Equitable. The purpose of the inherited IRA beneficiary continuation contract is to permit the beneficiary to change the funding vehicle that the deceased owner selected ("original IRA") while taking the required minimum distribution payments that must be made to the beneficiary after the deceased owner's death. See the discussion of required minimum distributions under "Tax Information." This contract is intended only for beneficiaries who want to take payments at least annually over their life expectancy. These payments generally must begin (or must have begun) no later than December 31 of the calendar year following the year the deceased owner died. This contract is not suitable for beneficiaries electing the "5-year rule." See "Beneficiary continuation option for traditional IRA and Roth IRA contracts" in "Payment of the death benefit" later in this prospectus. You should discuss with your tax adviser your own personal situation. The Inherited traditional IRA is also available to non-spousal beneficiaries of deceased plan participants in qualified plans, 403(b) plans and governmental employer 457(b) plans ("Applicable Plan(s)"). In this discussion, unless otherwise indicated, references to "deceased owner" include "deceased plan participant"; references to "original IRA" include "the deceased plan participant's interest or benefit under the Applicable Plan", and references to "individual beneficiary of a traditional IRA" include "individual non-spousal beneficiary under an Applicable Plan." The inherited IRA beneficiary continuation contract can only be purchased by a direct transfer of the beneficiary's interest under the deceased owner's original IRA. In the case of a non-spousal beneficiary under a deceased plan participant's Applicable Plan, the Inherited traditional IRA can only be purchased by a direct rollover of the death benefit under the Applicable Plan. The owner of the inherited IRA beneficiary continuation contract is the individual who is the beneficiary of the original IRA. (Certain trusts with only individual beneficiaries will be treated as individuals for this purpose). The contract must also contain the name of the deceased owner. In this discussion, "you" refers to the owner of the inherited IRA beneficiary continuation contract. The inherited IRA beneficiary continuation contract can be purchased whether or not the deceased owner had begun taking required minimum distribution payments during his or her life from the original IRA or whether you had already begun taking required minimum distribution payments of your interest as a beneficiary from the deceased 30 Contract features and benefits owner's original IRA. You should discuss with your own tax adviser when payments must begin or must be made. Under the inherited IRA beneficiary continuation contract: o You must receive payments at least annually (but can elect to receive payments monthly or quarterly). Payments are generally made over your life expectancy determined in the calendar year after the deceased owner's death and determined on a term certain basis. o The beneficiary of the original IRA will be the annuitant under the inherited IRA beneficiary continuation contract. In the case where the beneficiary is a "see-through trust," the oldest beneficiary of the trust will be the annuitant. o An inherited IRA beneficiary continuation contract is not available for annuitants over age 70. o The initial contribution must be a direct transfer from the deceased owner's original IRA and must be at least $5,000. o Additional contributions of at least $1,000 are permitted, but must be direct transfers of your interest as a beneficiary from another IRA with a financial institution other than AXA Equitable, where the deceased owner is the same as under the original IRA contract. o A non-spousal beneficiary under an Applicable Plan cannot make additional contributions to an Inherited traditional IRA contract. o You may make transfers among the investment options. o You may choose at any time to withdraw all or a portion of the account value. Any partial withdrawal must be at least $300. Withdrawal charges will apply as described under "Withdrawal charge" in "Charges and expenses," later in this prospectus. o The following features mentioned in the prospectus are not available under the inherited IRA beneficiary continuation contract: successor owner/annuitant, automatic investment program and systematic withdrawals. o If you die, we will pay to a beneficiary that you choose the greater of the account value or the applicable death benefit. o Upon your death, your beneficiary has the option to continue taking required minimum distributions based on your remaining life expectancy or to receive any remaining interest in the contract in a lump sum. The option elected will be processed when we receive satisfactory proof of death, any required instructions for the method of payment and any required information and forms necessary to effect payment. If your beneficiary elects to continue to take distributions, we will increase the account value to equal the applicable death benefit if such death benefit is greater than such account value as of the date we receive satisfactory proof of death and any required instructions, information and forms. The increase in account value will be allocated to the investment options according to the allocation percentages we have on file for your contract. Thereafter, withdrawal charges will no longer apply. If you had elected the ratcheted death benefit, it will no longer be in effect and charges for such benefit will stop. Contract features and benefits 31 2. Determining your contract's value - -------------------------------------------------------------------------------- YOUR ACCOUNT VALUE AND CASH VALUE Your "account value" is the total of the: (i) values you have in the variable investment options; (ii) guaranteed interest option; and (iii) market adjusted amounts you have in the fixed maturity options. These amounts are subject to certain fees and charges discussed under "Charges and expenses" later in this prospectus. Your contract also has a "cash value." At any time before annuity payments begin, your contract's cash value is equal to the account value less (i) any withdrawal charge that may apply and (ii) the total amount or a pro rata portion of the annual administrative charge. Please see "Surrender of your contract to receive its cash value" in "Accessing your money" later in this prospectus. YOUR CONTRACT'S VALUE IN THE VARIABLE INVESTMENT OPTIONS Each variable investment option invests in shares of a corresponding portfolio. Your value in each variable investment option is measured by "units." The value of your units will increase or decrease as though you had invested it in the corresponding portfolio's shares directly. Your value, however, will be reduced by the amount of the fees and charges that we deduct under the contract. - -------------------------------------------------------------------------------- Units measure your value in each variable investment option. - -------------------------------------------------------------------------------- The unit value for each variable investment option depends on the investment performance of that option minus daily charges for mortality and expense risks and other expenses. On any day, your value in any variable investment option equals the number of units credited to that option, adjusted for any units purchased for or deducted from your contract under that option, multiplied by that day's value for one unit. The number of your contract units in any variable investment option does not change unless they are: (i) increased to reflect additional contributions; (ii) decreased to reflect a withdrawal (plus applicable withdrawal charges); or (iii) increased to reflect a transfer into, or decreased to reflect a transfer out of a variable investment option. In addition, when we deduct the annual administrative charge, third-party transfer or exchange charge, or the ratcheted death benefit charge, we will reduce the number of units credited to your contract. A description of how unit values are calculated is found in the SAI. YOUR CONTRACT'S VALUE IN THE GUARANTEED INTEREST OPTION Your value in the guaranteed interest option at any time will equal: your contributions and transfers to that option, plus interest, minus withdrawals and transfers out of the option, and charges we deduct. YOUR CONTRACT'S VALUE IN THE FIXED MATURITY OPTIONS Your value in each fixed maturity option at any time before the maturity date is the market adjusted amount in each option, which reflects withdrawals out of the option and charges we deduct. This is equivalent to your fixed maturity amount increased or decreased by the market value adjustment. Your value, therefore, may be higher or lower than your contributions (less withdrawals) accumulated at the rate to maturity. At the maturity date, your value in a fixed maturity option will equal its maturity value, provided there have been no withdrawals or transfers. 32 Determining your contract's value 3. Transferring your money among investment options - -------------------------------------------------------------------------------- TRANSFERRING YOUR ACCOUNT VALUE At any time before the date annuity payments are to begin, you can transfer some or all of your account value among the investment options, subject to the following: o You must transfer at least $300 of account value or, if less, the entire amount in the investment option. We may waive the $300 requirement. o You may not transfer to a fixed maturity option in which you already have value. o You may not transfer to a fixed maturity option that has a rate to maturity of 3%. o If the annuitant is age 76 or older, you must limit your transfers to fixed maturity options to those with maturities of five years or less. As of February 15, 2008, not all maturities were available. You may not transfer to a fixed maturity option if its maturity date is later than the date annuity payments are to begin. o If you make transfers out of a fixed maturity option other than at its maturity date the transfer will cause a market value adjustment. o If you choose the maximum investment options choice method for selecting investment options (including if you have been deemed to have selected that method as a result of a Target Allocation investment option in which you are invested becoming a group "B" option as described under "Selecting your investment method" in "Contract features and benefits" earlier in this prospectus) the maximum amount you may transfer in any contract year from the guaranteed interest option to any other investment option is (a) 25% of the amount you had in the guaranteed interest option on the last day of the prior contract year or, if greater, (b) the total of all amounts you transferred from the guaranteed interest option to any other investment option in the prior contract year. o If you transfer money from another financial institution into the guaranteed interest option during your first contract year, and if you have selected the maximum investment options method (including if you have been deemed to have selected that method as a result of a Target Allocation investment option in which you are invested becoming a group "B" option as described under "Selecting your investment method" in "Contract features and benefits" earlier in this prospectus) you may, during the balance of that contract year, transfer up to 25% of such initial guaranteed interest option balance to any other investment option. Upon advance notice to you, we may change or establish additional restrictions on transfers among the investment options, including limitations on the number, frequency, or dollar amount of transfers. A transfer request does not change your percentages for allocating current or future contributions among the investment options. Our current transfer restrictions are set forth in the "Disruptive transfer activity" section below. You may request a transfer in writing or by telephone using TOPS or online using EQAccess. You must send in all signed written requests directly to our processing office. Transfer requests should specify: (1) the contract number, (2) the dollar amounts to be transferred, and (3) the investment options to and from which you are transferring. We will confirm all transfers in writing. Please see "Allocating your contributions" in "Contract features and benefits" for more information about your role in managing your allocations. DISRUPTIVE TRANSFER ACTIVITY You should note that the contract is not designed for professional "market timing" organizations, or other organizations or individuals engaging in a market timing strategy. The contract is not designed to accommodate programmed transfers, frequent transfers or transfers that are large in relation to the total assets of the underlying portfolio. Frequent transfers, including market timing and other program trading or short-term trading strategies, may be disruptive to the underlying portfolios in which the variable investment options invest. Disruptive transfer activity may adversely affect performance and the interests of long-term investors by requiring a portfolio to maintain larger amounts of cash or to liquidate portfolio holdings at a disadvantageous time or price. For example, when market timing occurs, a portfolio may have to sell its holdings to have the cash necessary to redeem the market timer's investment. This can happen when it is not advantageous to sell any securities, so the portfolio's performance may be hurt. When large dollar amounts are involved, market timing can also make it difficult to use long-term investment strategies because a portfolio cannot predict how much cash it will have to invest. In addition, disruptive transfers or purchases and redemptions of portfolio investments may impede efficient portfolio management and impose increased transaction costs, such as brokerage costs, by requiring the portfolio manager to effect more frequent purchases and sales of portfolio securities. Similarly, a portfolio may bear increased administrative costs as a result of the asset level and investment volatility that accompanies patterns of excessive or short-term trading. Portfolios that invest a significant portion of their assets in foreign securities or the securities of small- and mid-capitalization companies tend to be subject to the risks associated with market timing and short-term trading strategies to a greater extent than portfolios that do not. Securities trading in overseas markets present time zone arbitrage opportunities when events affecting portfolio securities values occur after the close of the overseas market but prior to the close of the U.S. markets. Securities of small- and mid-capitalization companies present arbitrage opportunities because the market for such securities may be less liquid than the market for securities of larger companies, Transferring your money among investment options 33 which could result in pricing inefficiencies. Please see the prospectuses for the underlying portfolios for more information on how portfolio shares are priced. We currently use the procedures described below to discourage disruptive transfer activity. You should understand, however, that these procedures are subject to the following limitations: (1) they primarily rely on the policies and procedures implemented by the underlying portfolios; (2) they do not eliminate the possibility that disruptive transfer activity, including market timing, will occur or that portfolio performance will be affected by such activity; and (3) the design of market timing procedures involves inherently subjective judgments, which we seek to make in a fair and reasonable manner consistent with the interests of all contract owners. We offer investment options with underlying portfolios that are part of AXA Premier VIP Trust and EQ Advisors Trust (together, the "trusts"). The trusts have adopted policies and procedures regarding disruptive transfer activity. They discourage frequent purchases and redemptions of portfolio shares and will not make special arrangements to accommodate such transactions. They aggregate inflows and outflows for each portfolio on a daily basis. On any day when a portfolio's net inflows or outflows exceed an established monitoring threshold, the trust obtains from us contract owner trading activity. The trusts currently consider transfers into and out of (or vice versa) the same variable investment option within a five business day period as potentially disruptive transfer activity. Each trust reserves the right to reject a transfer that it believes, in its sole discretion, is disruptive (or potentially disruptive) to the management of one of its portfolios. Please see the prospectuses for the trusts for more information. When a contract owner is identified as having engaged in a potentially disruptive transfer under the contract for the first time, a letter is sent to the contract owner explaining that there is a policy against disruptive transfer activity and that if such activity continues certain transfer privileges may be eliminated. If and when the contract owner is identified a second time as engaged in potentially disruptive transfer activity under the contract, we currently prohibit the use of voice, fax and automated transaction services. We currently apply such action for the remaining life of each affected contract. We or a trust may change the definition of potentially disruptive transfer activity, the monitoring procedures and thresholds, any notification procedures, and the procedures to restrict this activity. Any new or revised policies and procedures will apply to all contract owners uniformly. We do not permit exceptions to our policies restricting disruptive transfer activity. It is possible that a trust may impose a redemption fee designed to discourage frequent or disruptive trading by contract owners. As of the date of this prospectus, the trusts had not implemented such a fee. If a redemption fee is implemented by a trust, that fee, like any other trust fee, will be borne by the contract owner. Contract owners should note that it is not always possible for us and the underlying trusts to identify and prevent disruptive transfer activity. In addition, because we do not monitor for all frequent trading at the separate account level, contract owners may engage in frequent trading which may not be detected, for example, due to low net inflows or outflows on the particular day(s). Therefore, no assurance can be given that we or the trusts will successfully impose restrictions on all potentially disruptive transfers. Because there is no guarantee that disruptive trading will be stopped, some contract owners may be treated differently than others, resulting in the risk that some contract owners may be able to engage in frequent transfer activity while others will bear the effect of that frequent transfer activity. The potential effects of frequent transfer activity are discussed above. AUTOMATIC TRANSFER OPTIONS INVESTMENT SIMPLIFIER You may choose from two automatic options for transferring amounts from the guaranteed interest option to the variable investment options. The transfer options are the "fixed-dollar option" and the "interest sweep." You may select one or the other, but not both. If you elect to use rebalancing option II (discussed below), you may not choose either of the investment simplifier options. FIXED-DOLLAR OPTION. Under this option you may elect to have a fixed-dollar amount transferred out of the guaranteed interest option and into the variable investment options of your choice on a monthly basis. You can specify the number of monthly transfers or instruct us to continue to make monthly transfers until all available amounts in the guaranteed interest option have been transferred out. In order to elect the fixed-dollar option, you must have a minimum of $5,000 in the guaranteed interest option on the date we receive your election form at our processing office. You also must elect to transfer at least $50 per month. The fixed-dollar option is subject to the guaranteed interest option transfer limitation described above. INTEREST SWEEP. Under the interest sweep, we will make transfers on a monthly basis from amounts in the guaranteed interest option. The amount we will transfer will be the interest credited to amounts you have in the guaranteed interest option from the last business day of the prior month to the last business day of the current month. You must have at least $7,500 in the guaranteed interest option on the date we receive your election and on the last business day of each month thereafter to participate in the interest sweep option. The fixed-dollar and the interest sweep options are forms of dollar-cost averaging. Dollar-cost averaging allows you to gradually allocate amounts to the variable investment options by periodically transferring approximately the same dollar amount to the variable investment options you select. This will cause you to purchase more units if the unit's value is low and fewer units if the unit's value is high. Therefore, you may get a lower average cost per unit over the long term. This plan of investing, however, does not guarantee that you will earn a profit or be protected against losses. WHEN YOUR PARTICIPATION IN THE INVESTMENT SIMPLIFIER WILL END. Your participation in the investment simplifier will end: o Under the fixed-dollar option, when either the number of designated monthly transfers have been completed or the amount you have available in the guaranteed interest option has been transferred out. 34 Transferring your money among investment options o Under the interest sweep, when the amount you have in the guaranteed interest option falls below $7,500 (determined on the last business day of the month) for two months in a row. o Under either option, on the date we receive at our processing office, your written request to cancel automatic transfers, or on the date your contract terminates. REBALANCING YOUR ACCOUNT VALUE Our rebalancing program offers two options that you can use to automatically reallocate your account value. Option I permits reallocation among the variable investment options only and option II permits reallocation among the variable investment options and the guaranteed interest option. You must tell us: (a) in whole percentages only, the percentage you want invested in each variable investment option (and the guaranteed interest option, if applicable), and (b) how often you want the rebalancing to occur (quarterly, semiannually, or annually). While your rebalancing program is in effect, we will transfer amounts among the variable investment options (and the guaranteed interest option, if applicable), so that the percentage of your account value that you specify is invested in each option at the end of each rebalancing date. Your entire account value in the variable investment options (and guaranteed interest option, if applicable) must be included in the rebalancing program. Transfer restrictions out of the guaranteed interest option may apply in accordance with the last two bullets under "Transferring your account value," above, in this section. The initial transfer under the rebalancing program (based on your account value as of the day before the program is established) is not permitted to cause the transfer restrictions to be violated, and any rebalancing election that would be a violation of the transfer restrictions will not be put into effect. However, if the program can be established, once it is in effect the transfer restrictions will be waived for the rebalancing transfers. - -------------------------------------------------------------------------------- Rebalancing does not assure a profit or protect against loss. You should periodically review your allocation percentages as your needs change. You may want to discuss the rebalancing program with your financial professional and/or financial adviser before electing the program. - -------------------------------------------------------------------------------- You may elect the rebalancing program at any time. To be eligible, you must have (i) at least $5,000 of account value in the variable investment options for option I, or (ii) at least $5,000 of account value in the variable investment options and the guaranteed interest option, combined for option II. Rebalancing is not available for amounts you have allocated in the fixed maturity options. If you elect to use option II, you may not choose either of the investment simplifier automatic options. If you request a transfer while the rebalancing program is in effect, we will process the transfer as requested. The rebalancing program will then remain in effect unless you request in writing that it be cancelled. You may change your allocation instructions or cancel the program at any time. Transferring your money among investment options 35 4. Accessing your money - -------------------------------------------------------------------------------- WITHDRAWING YOUR ACCOUNT VALUE You have several ways to withdraw your account value before annuity payments begin. The table below shows the methods available under each type of contract. More information follows the table. For the tax consequences of taking withdrawals, see "Tax information" later in this prospectus.
- -------------------------------------------------------------------------------- Method of Withdrawal - -------------------------------------------------------------------------------- Minimum Contract Partial Systematic distribution - -------------------------------------------------------------------------------- NQ Yes Yes No - -------------------------------------------------------------------------------- traditional IRA Yes Yes Yes - -------------------------------------------------------------------------------- Roth IRA Yes Yes No - --------------------------------------------------------------------------------
PARTIAL WITHDRAWALS (All Contracts) You may take partial withdrawals from your account value at any time while the annuitant is living and before annuity payments begin. The minimum amount you may withdraw at any time is $300. If you request a withdrawal that leaves you with an account value of less than $500, we may treat it as a request to surrender the contract for its cash value. See "Surrender of your contract to receive its cash value" below. Partial withdrawals in excess of the 15% free withdrawal amount may be subject to a withdrawal charge (see "15% free withdrawal amount" in "Charges and expenses" later in this prospectus). SYSTEMATIC WITHDRAWALS (All Contracts except inherited IRA) If you have at least $20,000 of account value in the variable investment options and the guaranteed interest option, you may take systematic withdrawals on a monthly or quarterly basis. The minimum amount you may take for each withdrawal is $250. We will make the withdrawals on any day of the month that you select as long as it is not later than the 28th day of the month. If you do not select a date, your withdrawals will be made on the first day of the month. A check for the amount of the withdrawal will be mailed to you or, if you prefer, we will electronically transfer the money to your checking or savings account. You may withdraw either the amount of interest earned in the guaranteed interest option or a fixed-dollar amount from either the variable investment options or the guaranteed interest option. If you elect the interest option, a minimum of $20,000 must be maintained in the guaranteed interest option. If you elect the fixed-dollar option, you do not have to maintain a minimum amount. If you choose to have a fixed dollar amount taken from the variable investment options, you may elect to have the amount of the withdrawal subtracted from your account value in one of three ways: (1) pro rata from more than one variable investment option (without using up your total value in those options); or (2) pro rata from more than one variable investment option (until your value in those options is used up); or (3) you may specify a dollar amount from only one variable investment option. If you choose this option and the value in that variable investment option drops below the requested amount, the requested amount will be taken on a pro rata basis from all of the variable investment options in which you have value. You can cancel the systematic withdrawal option at any time. Amounts withdrawn in excess of the 15% free withdrawal amount may be subject to a withdrawal charge. LIFETIME MINIMUM DISTRIBUTION WITHDRAWALS (Traditional IRA contracts -- See "Tax information" later in this prospectus) We offer our "required minimum distribution (RMD) automatic withdrawal option" to help you meet lifetime required minimum distributions under federal income tax rules. This is not the exclusive way for you to meet these rules. After consultation with your tax adviser, you may decide to compute required minimum distributions yourself and request partial withdrawals. In such a case, a withdrawal charge may apply if your withdrawal exceeds the free withdrawal amount. You may choose instead an annuity payout option. Before electing an account-based withdrawal option, please refer to "Required minimum distributions" under "Individual retirement arrangements ("IRAs")" in "Tax information" later in this prospectus. Also, the actuarial present value of additional contract benefits must be added to the account value in calculating required minimum distribution withdrawals, which could increase the amount required to be withdrawn. For this purpose additional annuity contract benefits may include enhanced death benefits. You may elect our RMD automatic withdrawal option in the year in which you reach age 70-1/2 or in any later year. To elect this option, you must have account value in the variable investment options and the guaranteed interest option of at least $2,000. The minimum amount we will pay out is $300, or if less, your account value. If your account value is less than $500 after the withdrawal, we may terminate your contract and pay you its cash value. Currently, minimum distribution withdrawal payments will be made annually. 36 Accessing your money Currently, we do not impose a withdrawal charge on minimum distribution withdrawals if you are enrolled in our RMD automatic withdrawal option. The minimum distribution withdrawal will be taken into account in determining if any subsequent withdrawal taken in the same contract year exceeds the 15% free withdrawal amount. - -------------------------------------------------------------------------------- We will send to traditional IRA owners a form outlining the minimum distribution options available in the year you reach age 70-1/2 (if you have not begun your annuity payments before that time). - -------------------------------------------------------------------------------- HOW WITHDRAWALS ARE TAKEN FROM YOUR ACCOUNT VALUE Unless you specify otherwise, we will subtract your withdrawals on a pro rata basis from your values in the investment options. A market value adjustment will apply if withdrawals are taken from the fixed maturity options. AUTOMATIC DEPOSIT SERVICE If you are receiving Required Minimum Distribution payments from a traditional IRA contract, you may use our automatic deposit service. Under this service we will automatically deposit the Required Minimum Distribution payment from your traditional IRA contract directly into an existing EQUI-VEST(SM) NQ or Roth IRA or an existing EQUI-VEST(SM) Express(SM) NQ or Roth IRA contract according to your allocation instructions. Please note that you must have compensation or earned income for the year of the contribution to make regular contributions to Roth IRAs. See "Tax information" later in this prospectus. DEPOSIT OPTION FOR NQ CONTRACTS ONLY You can elect the deposit option for your benefit while you are alive, or for the benefit of your beneficiary. Proceeds from your NQ contract can be deposited with us for a period you select (including one for as long as the annuitant lives). We will hold the amounts in our general account. We will credit interest on the amounts at a guaranteed rate for the specified period. We will pay out the interest on the amount deposited at least once each year. If you elect this option for your benefit, you deposit the amount with us that you would otherwise apply to an annuity payout option. If you elect this option for your beneficiary before the annuitant's death, death benefit proceeds can be left on deposit with us subject to certain restrictions, instead of being paid out to the beneficiary. Other restrictions apply to the deposit option. Your financial professional can provide more information about this option, or you may call our processing office. SURRENDER OF YOUR CONTRACT TO RECEIVE ITS CASH VALUE You may surrender your contract to receive its cash value at any time while the annuitant is living and before you begin to receive annuity payments. For a surrender to be effective, we must receive your written request and your contract at our processing office. We will determine your cash value on the date we receive the required information. All benefits under the contract will terminate as of that date. You may receive your cash value in a single sum payment or apply it to one or more of the annuity payout options. See "Your annuity payout options" below. We will usually pay the cash value within seven calendar days, but we may delay payment as described in "When to expect payments" below. For the tax consequences of surrenders, see "Tax information" later in this prospectus. TERMINATION We may terminate your contract and pay you the cash value if: (1) your account value is less than $500 and you have not made contributions to your contract for a period of three years; or (2) you request a partial withdrawal that reduces your account value to an amount less than $500; or (3) you have not made any contributions within 120 days from your contract date. WHEN TO EXPECT PAYMENTS Generally, we will fulfill requests for payments out of the variable investment options within seven calendar days after the date of the transaction to which the request relates. These transactions may include applying proceeds to a variable annuity payout option, payment of a death benefit, payment of any amount you withdraw (less any withdrawal charge) and, upon surrender or termination, payment of the cash value. We may postpone such payments or applying proceeds for any period during which: (1) the New York Stock Exchange is closed or restricts trading, (2) the SEC determines that an emergency exists as a result of which sales of securities or determination of fair value of a variable investment option's assets is not reasonably practicable, or (3) the SEC, by order, permits us to defer payment to protect people remaining in the variable investment options. We can defer payment of any portion of your values in the guaranteed interest option and the fixed maturity options (other than for death benefits) for up to six months while you are living. We also may defer payments for a reasonable amount of time (not to exceed 15 days) while we are waiting for a contribution check to clear. All payments are made by check and are mailed to you (or the payee named in a tax-free exchange) by U.S. mail, unless you request that we use an express delivery or wire transfer service at your expense. YOUR ANNUITY PAYOUT OPTIONS EQUI-VEST(SM) offers you several choices of annuity payout options. Some enable you to receive fixed annuity payments, and others enable you to receive variable annuity payments. You can choose from among the annuity payout options listed below. Restrictions may apply, depending on the type of contract you own or the annuitant's age at contract issue. Accessing your money 37 ANNUITY PAYOUT OPTIONS
- -------------------------------------------------------------------------------- Fixed annuity payout options o Life annuity o Life annuity with period certain o Life annuity with refund certain o Period certain annuity - -------------------------------------------------------------------------------- Variable Immediate Annuity payout o Life annuity (not available in options (as described in a sepa- New York) rate prospectus for this option) o Life annuity with period certain - --------------------------------------------------------------------------------
o Life annuity: An annuity that guarantees payments for the rest of the annuitant's life. Payments end with the last monthly payment before the annuitant's death. Because there is no continuation of benefits following the annuitant's death with this payout option, it provides the highest monthly payment of any of the life annuity options, so long as the annuitant is living. o Life annuity with period certain: An annuity that guarantees payments for the rest of the annuitant's life. If the annuitant dies before the end of a selected period of time ("period certain"), payments continue to the beneficiary for the balance of the period certain. The period certain cannot extend beyond the annuitant's life expectancy or the joint life expectancy of the annuitant and the joint annuitant. A life annuity with a period certain is the form of annuity under the contracts that you will receive if you do not elect a different payout option. In this case, the period certain will be based on the annuitant's age and will not exceed 10 years or the annuitant's life expectancy. o Life annuity with refund certain: An annuity that guarantees payments for the rest of the annuitant's life. If the annuitant dies before the amount applied to purchase the annuity option has been recovered, payments to the beneficiary will continue until that amount has been recovered. This payout option is available only as a fixed annuity. o Period certain annuity: An annuity that guarantees payments for a specific period of time, usually 5, 10, 15, or 20 years. This guarantee period may not exceed the annuitant's life expectancy. This option does not guarantee payments for the rest of the annuitant's life. It does not permit any repayment of the unpaid principal, so you cannot elect to receive part of the payments as a single sum payment with the rest paid in monthly annuity payments. This payout option is available only as a fixed annuity. The life annuity, life annuity with period certain, and life annuity with refund certain payout options are available on a single life or joint and survivor life basis. The joint and survivor life annuity guarantees payments for the rest of the annuitant's life and, after the annuitant's death, payments continue to the survivor. We may offer other payout options not outlined here. Your financial professional can provide details. FIXED ANNUITY PAYOUT OPTIONS With fixed annuities, we guarantee fixed annuity payments that will be based either on the tables of guaranteed annuity purchase factors in your contract or on our then current annuity purchase factors, whichever is more favorable for you. VARIABLE IMMEDIATE ANNUITY PAYOUT OPTIONS Variable Immediate Annuities are described in a separate prospectus that is available from your financial professional. Before you select a Variable Immediate Annuity payout option, you should read the prospectus which contains important information that you should know. Variable Immediate Annuities may be funded through your choice of available variable investment options investing in portfolios of EQ Advisors Trust and AXA Premier VIP Trust. The contract also offers a fixed income annuity payout option that can be elected in combination with the variable income annuity payout option. The amount of each variable income annuity payment will fluctuate, depending upon the performance of the variable investment options, and whether the actual rate of investment return is higher or lower than an assumed base rate. We may offer other payout options not outlined here. Your financial professional can provide details. SELECTING AN ANNUITY PAYOUT OPTION When you select a payout option, we will issue you a separate written agreement confirming your right to receive annuity payments. We require you to return your contract before annuity payments begin. Unless you choose a different payout option, we will pay annuity payments under a life annuity with a period certain of 10 years. You choose whether these payments will be fixed or variable. The contract owner and annuitant must meet the issue age and payment requirements. You can choose the date annuity payments are to begin, but generally it may not be earlier than thirteen months from the EQUI-VEST(SM) contract date. You can change the date your annuity payments are to begin any time before that date as long as you do not choose a date later than the 28th day of any month or later than your contract's maturity date. Your contract's maturity date is the date by which you must either take a lump sum withdrawal or select an annuity payout option. The maturity date is generally the contract date anniversary that follows the annuitant's 95th birthday and for contracts issued in New York is: (i) The contract date anniversary that follows the annuitant's 90th birthday if the annuitant was not older than age 80 when the contract was issued; and (ii) The contract date anniversary that is 10 years after the date the contract was issued if the annuitant was ages 81 through 85 when the contract was issued. Before the last date by which your annuity payments must begin, we will notify you by letter. Once you have selected an annuity payout option and payments have begun, no change can be made other than transfers among the variable investment options if a variable annuity is selected. We currently offer different payment frequencies on certain annuity payout options. In general, the total annual payout will be lower for more frequent payouts such (as monthly) because of the increased administrative expenses associated with more frequent payouts. Also, 38 Accessing your money in general, the longer the period over which we expect to make payments, the lower will be your payment each year. The amount of the annuity payments will depend on: (1) the amount applied to purchase the annuity; (2) the type of annuity chosen, and whether it is fixed or variable; (3) in the case of a life annuity, the annuitant's age (or the annuitant's and joint annuitant's ages); and (4) in certain instances, the sex of the annuitant(s). If, at the time you elect a payout option, the amount to be applied is less than $2,000 or the initial payment under the form elected is less than $20 monthly, we reserve the right to pay the account value in a single sum rather than as payments under the payout option chosen. Please see Appendix V later in this prospectus for state variations. EQUI-VEST(SM) AT RETIREMENT(SM) If you have a traditional IRA, Roth IRA, QP IRA, or NQ contract, you may be eligible to convert your EQUI-VEST(SM) contract to a new EQUI-VEST(SM) At Retirement(SM) contract. EQUI-VEST(SM) At Retirement(SM) is a deferred variable annuity contract that offers living benefits (Guaranteed withdrawal benefit for life or Guaranteed minimum income benefit) and enhanced death benefits. The EQUI-VEST(SM) At Retirement(SM) contract has no withdrawal charges. At the time of conversion, you must meet the following conditions in order to qualify for this conversion offer. You must be between the ages of 55 and 85, your contract must have an account value of at least $50,000, you must purchase at least one of the living or enhanced death benefits, there can be no withdrawal charges applicable under your existing EQUI-VEST(SM) contract, and no rollover/direct transfer contributions can have been made to the existing contract in the two contract years prior to the date you apply for the new contract. The written application for the new EQUI-VEST(SM) At Retirement(SM) contract must be received by our Processing Office no later than the close of business on December 31, 2016 or such later date as we state in writing to you. The EQUI-VEST(SM) At Retirement(SM) contract and its benefits, including the charges for such benefits are described in a separate prospectus. Accessing your money 39 5. Charges and expenses - -------------------------------------------------------------------------------- CHARGES THAT AXA EQUITABLE DEDUCTS We deduct the following charges each day from the net assets of each variable investment option. These charges are reflected in the unit values of each variable investment option: o A mortality and expense risks charge o A charge for other expenses We deduct the following charges from your account value. When we deduct these charges from your variable investment options, we reduce the number of units credited to your contract: o On the last day of the contract year -- an annual administrative charge, if applicable o Charge for third-party transfer or exchange o At the time you make certain withdrawals or surrender your contract, or your contract is terminated -- a withdrawal charge, if applicable o A ratcheted death benefit charge, if you elect the benefit o At the time annuity payments are to begin -- charges designed to approximate certain taxes that may be imposed on us, such as premium taxes in your state. A variable immediate annuity administrative fee may also apply. More information about these charges appears below. We will not increase these charges for the life of your contract, except as noted. We may reduce certain charges under group or sponsored arrangements. See "Group or sponsored arrangements" below. To help with your retirement planning, we may offer other annuities with different charges, benefits and features. Please contact your financial professional for more information. CHARGES UNDER THE CONTRACTS MORTALITY AND EXPENSE RISKS CHARGE We deduct a daily charge from the net assets in each variable investment option to compensate us for mortality and expense risks, including the standard death benefit. The daily charge is currently equivalent to an annual rate of 0.95% (1.65% maximum) of the net assets in each variable investment option. The mortality risk we assume is that annuitants (as a group) will live for a longer time than our actuarial tables predict. If that happens, we would be paying more in annuity benefits than we planned. We also assume a risk that the mortality assumptions reflected in our guaranteed annuity payment tables, shown in each contract, will differ from actual mortality experience. We may change the actuarial basis for our guaranteed annuity payment tables, but only for new contributions and only at five year intervals from the contract date. Lastly, we assume a mortality risk to the extent that at the time of death, the guaranteed death benefit exceeds the cash value of the contract. The expense risk we assume is that our expenses in providing the benefits and administering the contracts will be greater than we expect. To the extent that the mortality and expense risk charges are not needed to cover the actual expenses incurred, they may be considered an indirect reimbursement for certain sales and promotional expenses relating to the contracts. CHARGE FOR OTHER EXPENSES We deduct this daily charge from the net assets in each variable investment option. This charge, together with the annual administrative charge described below, is for providing administrative and financial accounting services under the contracts. The daily charge is currently equivalent to an annual rate of 0.25% (0.35% maximum) of net assets in each variable investment option. TOTAL MAXIMUM SEPARATE ACCOUNT A CHARGES The current total annual rate for Separate Account A charges is 1.20%. We may increase or decrease this total annual rate, but we may not increase it above a maximum rate of 2.00%. Any increase will apply only after the date of the change. Any changes we make will reflect differences in costs and anticipated expenses, and will not be unfair or discriminatory. ANNUAL ADMINISTRATIVE CHARGE We deduct an administrative charge from your account value on the last business day of each contract year. We will deduct a pro rata portion of the charge if you surrender your contract, elect an annuity payout option, or the annuitant dies during the contract year. We deduct the charge if your account value on the last business day of the contract year, is less than $25,000 under NQ contracts and $20,000 under IRA contracts. If your account value on such date is $25,000 or more for NQ ($20,000 or more for IRA) contracts, we do not deduct the charge. During the first two contract years, the charge is equal to $30 or, if less, 2% of your current account value plus any amount previously withdrawn during the contract year. The charge is currently $30 for contract years three or later. We may increase this charge if our administrative costs rise, but the charge will never exceed $65 annually. We reserve the right to deduct this charge on a quarterly, rather than annual, basis. The charge is deducted pro rata from the variable investment options and the guaranteed interest option. If those amounts are insufficient, we will make up the required amounts from the fixed maturity options to the extent you have value in those options. Charges deducted from the fixed maturity options are considered withdrawals and, as such, will result in a market value adjustment. We currently waive the annual administrative charge that would otherwise be deducted in the next contract year under any individually 40 Charges and expenses owned EQUI-VEST(SM) contract/certificate having an account value that, when combined with the account value of other EQUI-VEST(SM) contracts/certificates owned by the same person, exceeds $100,000 in the aggregate (as determined in January of each year). This does not apply to EQUI-VEST(SM) contracts/certificates owned by different members of the same household. We may change or discontinue this practice at any time without prior notice. CHARGE FOR THIRD-PARTY TRANSFER OR EXCHANGE We impose a charge for making a direct transfer of amounts from your contract to a third party, such as in the case of a trustee-to-trustee transfer for an IRA contract, or if you request that your contract be exchanged for a contract issued by another insurance company. In either case, we will deduct from your account value any withdrawal charge that applies and a charge of $25 for each direct transfer or exchange. We reserve the right to increase this charge to a maximum of $65. WITHDRAWAL CHARGE A withdrawal charge may apply in three circumstances: (1) you make one or more withdrawals during a contract year; (2) you surrender your contract to receive its cash value; or (3) we terminate your contract. The amount of the charge will depend on whether the free withdrawal amount applies, and the availability of one or more exceptions. In order to give you the exact dollar amount of the withdrawal you request, we deduct the amount of the withdrawal and the amount of the withdrawal charge from your account value. Any amount deducted to pay withdrawal charges is also subject to a withdrawal charge. We deduct the withdrawal amount and the withdrawal charge pro rata from the variable investment options and the guaranteed interest option. If those amounts are insufficient, we will make up the required amounts from the fixed maturity options. If we deduct all or a portion of the withdrawal charge from the fixed maturity options, a market value adjustment will apply. See "About our fixed maturity options" in "More information" later in this prospectus. The amount of the withdrawal charge we deduct is equal to 6% of any contribution withdrawn attributable to contributions made during the current and five prior contract years measured from the date of the withdrawal. In the case of surrenders, we will pay you the greater of the following up to a maximum of the account value: o the account value after any withdrawal charge has been imposed (cash value), or o the 15% free withdrawal amount plus the contributions made before the current and five prior participation years that have not been previously withdrawn plus 94% of (a) the remaining account value, minus (b) any administrative fees. For purposes of calculating the withdrawal charge, amounts withdrawn up to the free withdrawal amount are not considered a withdrawal of any contribution. We also treat contributions that have been invested the longest as being withdrawn first. We treat contributions as withdrawn before earnings for purposes of calculating the withdrawal charge. However, the federal income tax rules treat earnings under most NQ contracts as withdrawn first. See "Tax information" later in this prospectus. We may reduce the withdrawal charge in order to comply with any state law requirement. See "Contracts issued in New York -- fixed maturity options" below. The withdrawal charge does not apply in the circumstances described below. 15% FREE WITHDRAWAL AMOUNT. Each contract year you can withdraw up to 15% of your account value without paying a withdrawal charge. The 15% free withdrawal amount is determined using your account value at the time you request a withdrawal, minus any other withdrawals made during the contract year. DEATH OR PURCHASE OF ANNUITY. The withdrawal charge does not apply if: o the annuitant dies and a death benefit is payable to the beneficiary. o we receive a properly completed election form providing for the account value to be used to buy a life contingent annuity or a non-life annuity with a period certain for a term of at least ten years. DISABILITY, TERMINAL ILLNESS, OR CONFINEMENT TO NURSING HOME. The withdrawal charge also does not apply if: (i) The annuitant has qualified to receive Social Security disability benefits as certified by the Social Security Administration; or (ii) We receive proof satisfactory to us (including certification by a licensed physician) that the annuitant's life expectancy is six months or less; or (iii) The annuitant has been confined to a nursing home for more than 90 days (or such other period, as required in your state) as verified by a licensed physician. A nursing home for this purpose means one that 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. We reserve the right to impose a withdrawal charge, in accordance with your contract and applicable state law, with respect to a contribution if the condition as described in (i), (ii) or (iii) above existed at the time the contribution was remitted, or if the condition began within the 12 month period following remittance. Some states may not permit us to waive the withdrawal charge in the above circumstances, or may limit the circumstances for which the withdrawal charge may Charges and expenses 41 be waived. Your financial professional can provide more information or you may contact our processing office. For traditional IRA and Roth IRA contracts, the withdrawal charge also does not apply: o after six contract years and the annuitant is at least age 59-1/2; or o if you request a refund of a contribution in excess of amounts allowed to be contributed under the federal income tax rules within one month of the date on which you made the contribution. CONTRACTS ISSUED IN NEW YORK -- FIXED MATURITY OPTIONS For contracts issued in New York, the withdrawal charge that applies to withdrawals taken from amounts in the fixed maturity options will never exceed 6% and will be determined by applying the New York Declining Scale ("declining scale"). If you withdraw amounts that have been transferred from one fixed maturity option to another, we use the New York Alternative Scale ("alternative scale") if it produces a higher charge than the declining scale.
- -------------------------------------------------------------------------------- Declining scale Alternative scale - -------------------------------------------------------------------------------- Year of investment Year of transfer within fixed in fixed maturity maturity option* option* - -------------------------------------------------------------------------------- Within year 1 6% Within year 1 5% - -------------------------------------------------------------------------------- 2 6% 2 4% - -------------------------------------------------------------------------------- 3 5% 3 3% - -------------------------------------------------------------------------------- 4 4% 4 2% - -------------------------------------------------------------------------------- 5 3% 5 1% - -------------------------------------------------------------------------------- 6 2% After year 5 0% - -------------------------------------------------------------------------------- After year 6 0% Not to exceed 1% times the number of years remaining in the fixed maturity option, rounded to the higher number of years. In other words, if 4.3 years remain, it would be a 5% charge. - --------------------------------------------------------------------------------
* Measured from the contract date anniversary prior to the date of the contribution or transfer. In the following example we compare the withdrawal charge that would apply to a withdrawal from a NQ or traditional IRA contract that has an account value of $10,000; $8,000 from a contribution made three years ago and $2,000 from positive investment performance. o If you were to withdraw the total amount of the contribution within the first six years after it was made, the withdrawal charge that generally applies would be $480 (6% of $8,000). However, if when you made your contribution you allocated it to a fixed maturity option, the withdrawal charge would be lower. According to the declining scale method described above, the withdrawal charge would be limited to 5% of the $8,000, or $400 in the third year. o The withdrawal charge may be different if when you made your contribution three years ago, you allocated it to a fixed maturity option and then in the third year, you transfer the amounts that apply to such contribution to a new fixed maturity option. In this example we assume that there is one year remaining in the new fixed maturity option. Because you made a transfer among the fixed maturity options, the alternative scale may now apply. Based on this alternative scale, a contribution that is transferred will be subject to a 5% withdrawal charge if you withdraw that contribution in the same year that you make the transfer. However, the withdrawal charge may not exceed 1% for each year remaining in the new fixed maturity option. Since, in this example, the time remaining in the new fixed maturity option is one year, the withdrawal charge under the alternative scale would be limited to 1%. Because New York regulations permit us to use the greater of the declining scale or the alternative scale, the withdrawal charge would be 5%, or $400, based on the declining scale. o The withdrawal charge may not exceed the charge that would normally apply under the contract. Use of a New York scale can only result in a lower charge. If your contribution has been in the contract for more than six years and therefore would not have a withdrawal charge associated with it, no withdrawal charge would apply. o If you take a withdrawal from an investment option other than the fixed maturity options, the amount available for withdrawal without a withdrawal charge is reduced. It will be reduced by the amount of the contribution in the fixed maturity options to which no withdrawal charge applies. o As of any date on which 50% or more of your account value is held in fixed maturity options, the free withdrawal amount is zero. For contracts issued in New York, you should consider that on the maturity date of a fixed maturity option if we have not received your instructions for allocation of your maturity value, we will transfer your maturity value to the fixed maturity option scheduled to mature next. If we are not offering other fixed maturity options, we will transfer your maturity value to the EQ/Money Market option. The potential for lower withdrawal charges for withdrawals from the fixed maturity options and the potential for a lower free withdrawal amount than those that would normally apply, should be taken into account when deciding whether to allocate amounts to, or transfer amounts to or from, the fixed maturity options. CHARGES FOR STATE PREMIUM AND OTHER APPLICABLE TAXES We deduct a charge designed to approximate certain taxes that may be imposed on us, such as premium taxes in your state. Generally, we deduct the charge from the amount applied to provide an annuity payout option. The current tax charge that might be imposed varies by jurisdiction and ranges from 0% to 3.5%. VARIABLE IMMEDIATE ANNUITY PAYOUT OPTION ADMINISTRATIVE FEE We deduct a fee of $350 from the amount to be applied to purchase a Variable Immediate Annuity payout option. This option may not be available at the time you elect to begin receiving annuity payouts or it may have a different charge. OPTIONAL RATCHETED DEATH BENEFIT CHARGE If you elect the optional ratcheted death benefit, we deduct a charge annually from your account value on each contract date anniversary. The charge is equal to 0.15% of your account value on the contract date anniversary. 42 Charges and expenses The charge is deducted pro rata from the variable investment options and the guaranteed interest option. If those amounts are insufficient, we will make up the required amounts from the fixed maturity options to the extent you have value in those options. Charges deducted from the fixed maturity options are considered withdrawals and, as such, will result in a market value adjustment. See "About our fixed maturity options" in "More information" later in this prospectus. CHARGES THAT THE TRUSTS DEDUCT The Trusts deduct charges for the following types of fees and expenses: o Management fees ranging from 0.10% to 1.40%. o 12b-1 fees of 0.25%. o Operating expenses, such as trustees' fees, independent auditors' fees, legal counsel fees, administrative service fees, custodian fees, and liability insurance. o Investment-related expenses, such as brokerage commissions. These charges are reflected in the daily share price of each portfolio. Since shares of each Trust are purchased at their net asset value, these fees and expenses are, in effect, passed on to the variable investment options and are reflected in their unit values. Certain portfolios available under the contract in turn invest in shares of other portfolios of AXA Premier VIP Trust and EQ Advisors Trust (collectively, the "underlying portfolios"). The underlying portfolios each have their own fees and expenses, including management fees, operating expenses, and investment related expenses such as brokerage commissions. For more information about these charges, please refer to the prospectuses for the Trusts. For more information about these charges, please refer to the prospectuses for the Trusts. GROUP OR SPONSORED ARRANGEMENTS For certain group or sponsored arrangements, we may reduce the withdrawal charge or the mortality and expense risks charge, or change the minimum contribution requirements. We also may change the minimum death benefit or offer variable investment options that invest in shares of a Trust that are not subject to the 12b-1 fee. Group arrangements include those in which a trustee or an employer, for example, purchases contracts covering a group of individuals on a group basis. Group arrangements are not available for traditional IRA and Roth IRA contracts. Sponsored arrangements include those in which an employer allows us to sell contracts to its employees or retirees on an individual basis. Our costs for sales, administration, and mortality generally vary with the size and stability of the group or sponsoring organization, among other factors. We take all these factors into account when reducing charges. To qualify for reduced charges, a group or sponsored arrangement must meet certain requirements, such as requirements for size and number of years in existence. Group or sponsored arrangements that have been set up solely to buy contracts or that have been in existence less than six months will not qualify for reduced charges. We also may establish different rates to maturity for the fixed maturity options under different classes of contracts for group or sponsored arrangements. We will make these and any similar reductions according to our rules in effect when we approve a contract for issue. We may change these rules from time to time. Any variation will reflect differences in costs or services and will not be unfairly discriminatory. Group or sponsored arrangements may be governed by federal income tax rules, the Employee Retirement Income Security Act of 1974, or both. We make no representations with regard to the impact of these and other applicable laws on such programs. We recommend that employers, trustees, and others purchasing or making contracts available for purchase under such programs seek the advice of their own legal and benefits advisers. OTHER DISTRIBUTION ARRANGEMENTS We may reduce or eliminate charges when sales are made in a manner that results in savings of sales and administrative expenses, such as sales through persons who are compensated by clients for recommending investments and who receive no commission or reduced commissions in connection with the sale of the contracts. We will not permit a reduction or elimination of charges where it will be unfairly discriminatory. Charges and expenses 43 6. Payment of death benefit - -------------------------------------------------------------------------------- YOUR BENEFICIARY AND PAYMENT OF BENEFIT You designate your beneficiary when you apply for your contract. You may change your beneficiary at any time. The change will be effective on the date the written request for the change is received in our processing office. We are not responsible for any beneficiary change request that we do not receive. We will send you a written confirmation when we receive your request. Under jointly owned contracts, the surviving owner is considered the beneficiary, and will take the place of any other beneficiary. We determine the amount of the death benefit as of the date we receive satisfactory proof of the annuitant's death, any required instructions for the method of payment, information and forms necessary to effect payment. We describe the death benefit in "Contract features and benefits" earlier in this prospectus. EFFECT OF THE ANNUITANT'S DEATH If the annuitant dies before the annuity payments begin, we will pay the death benefit to your beneficiary. Generally, the death of the annuitant terminates the contract. However, if you are both the owner and the annuitant and your spouse is the sole primary beneficiary or the joint owner, the contract can be continued as discussed below under "Successor owner and annuitant." Only a spouse who is the sole primary beneficiary can be a successor owner/annuitant. The determination of spousal status is made under applicable state law; however, in the event of a conflict between federal and state law, we follow federal rules. A beneficiary may be able to have limited ownership as discussed under "Beneficiary continuation option" below. SUCCESSOR OWNER AND ANNUITANT. For all contracts, your spouse can elect upon your death to continue the contract as the owner/annuitant and no death benefit is payable until the surviving spouse's death. If your surviving spouse decides to continue the contract, then as of the date we receive satisfactory proof of death, any required instructions, information and forms necessary to effect the successor owner and annuitant feature, we will increase the account value to equal your ratcheted (or minimum) death benefit, if such death benefit is greater than such account value. The increase in the account value will be allocated to the investment options according to the allocation percentages we have on file for your contract. Thereafter, withdrawal charges will no longer apply to contributions made before your death. Withdrawal charges will apply if additional contributions are made. These additional contributions will be withdrawn only after all other amounts have been withdrawn. The minimum death benefit will continue to apply. In determining whether the ratcheted death benefit, if elected, will continue to grow, and to determine if contributions are permitted we will use your surviving spouse's age as of the date the successor owner and annuitant feature is effected. WHEN AN NQ CONTRACT OWNER DIES BEFORE THE ANNUITANT Under certain conditions the owner changes after the original owner's death for purposes of receiving federal tax law required distributions from the contract. When you are not the annuitant under an NQ contract and you die before annuity payments begin, unless you specify otherwise, we will automatically make the beneficiary you name to receive the death benefit upon the annuitant's death your successor owner. If you do not want this beneficiary also to be the successor owner, you should name a specific successor owner. You may name a successor owner at any time by sending satisfactory notice to our processing office. If the contract is jointly owned and the first owner to die is not the annuitant, the surviving owner becomes the sole contract owner. This person will be considered the successor owner for purposes of the distribution rules described in this section. Unless the surviving spouse of the owner who has died (or in the case of a joint ownership situation, the surviving spouse of the first owner to die) is the successor owner for this purpose, the entire interest in the contract must be distributed under the following rules: o The cash value of the contract must be fully paid to the successor owner (new owner) within five years after your death (or in a joint ownership situation, the death of the first owner to die). o The successor owner may instead elect to receive the cash value as a life annuity (or payments for a period certain of not longer than the new owner's life expectancy). Payments must begin within one year after the non-annuitant owner's death. Unless this alternative is elected, we will pay any cash value five years after your death (or the death of the first owner to die). If the surviving spouse is the successor owner, the spouse may elect to continue the contract. No distributions are required as long as the surviving spouse and annuitant are living. An eligible successor owner, including a surviving joint owner after the first owner dies, may elect the beneficiary continuation option for NQ contracts discussed under "Beneficiary continuation option" below. The account value must be distributed no later than 5 years after the spouse's death. HOW DEATH BENEFIT PAYMENT IS MADE We will pay the death benefit to the beneficiary in the form of the annuity payout option you have chosen. If you have not chosen an annuity payout option as of the time of the annuitant's death, the beneficiary will receive the death benefit in a single sum. However, subject to any exceptions in the contract, our rules and any applicable requirements under federal income tax rules, the beneficiary may elect to apply the death benefit to one or more annuity payout options we offer at the time. See "Your annuity payout options" in "Accessing your money" earlier in this prospectus. Please note that any annuity payout option chosen may not extend beyond the life expectancy of the beneficiary. 44 Payment of death benefit Single sum payments generally are paid through the AXA Equitable Access Account, an interest bearing account with check writing privileges. The AXA Equitable Access Account is part of AXA Equitable's general account. Beneficiaries have immediate access to the proceeds by writing a check on the account. We pay interest from the date the single sum is deposited into the Access Account until the account is closed. BENEFICIARY CONTINUATION OPTION This feature permits a designated individual, on the contract owner's death, to maintain a contract in the deceased contract owner's name and receive distributions under the contract, instead of receiving the death benefit in a single sum. We make this option available to beneficiaries under traditional IRA, Roth IRA and NQ contracts. BENEFICIARY CONTINUATION OPTION FOR TRADITIONAL IRA AND ROTH IRA CONTRACTS ONLY. The beneficiary must elect this feature by September 30th of the year following the calendar year of your death and before any other inconsistent election is made. Beneficiaries who do not make a timely election will not be eligible for this option. If the election is made, then, as of the date we receive satisfactory proof of death, any required instructions, information and forms necessary to effect the beneficiary continuation option feature, we will increase the account value to equal the applicable death benefit if such death benefit is greater than such account value. The increase in account value will be allocated to the investment options according to the allocation percentages we have on file for your contract. Generally, payments will be made once a year to the beneficiary over the beneficiary's life expectancy (determined in the calendar year after your death and determined on a term certain basis). These payments must begin no later than December 31st of the calendar year after the year of your death. For sole spousal beneficiaries, payments may begin by December 31st of the calendar year in which you would have reached age 70-1/2, if such time is later. For traditional IRA contracts only, if you die before your Required Beginning Date for required minimum distributions as discussed in "Tax information" later in this prospectus, the beneficiary may choose the "5-year rule" instead of annual payments over life expectancy. The 5-year rule is always available to beneficiaries under Roth IRA contracts. If the beneficiary chooses this option, the beneficiary may take withdrawals as desired, but the entire account value must be fully withdrawn by December 31st of the calendar year which contains the fifth anniversary of your death. Under the beneficiary continuation option for IRA and Roth IRA contracts: o The contract continues with your name on it for the benefit of your beneficiary. o This feature is only available if the beneficiary is an individual. Certain trusts with only individual beneficiaries will be treated as individuals for this purpose. o If there is more than one beneficiary, each beneficiary's share will be separately accounted for. It will be distributed over the beneficiary's own life expectancy, if payments over life expectancy are chosen. o The minimum amount that is required in order to elect the beneficiary continuation option is $5,000 for each beneficiary. o The beneficiary may make transfers among the investment options but no additional contributions will be permitted. o The minimum death benefit or the ratcheted death benefit, if applicable under the contract, will no longer be in effect and the charge for the ratcheted death benefit will stop. o The beneficiary may choose at any time to withdraw all or a portion of the account value and no withdrawal charges will apply. o Any partial withdrawal must be at least $300. o Your beneficiary will have the right to name a beneficiary to receive any remaining interest in the contract. o Upon the death of your beneficiary, the beneficiary he or she has named has the option to either continue taking required minimum distributions based on the remaining life expectancy of the deceased beneficiary or to receive any remaining interest in the contract in a lump sum. The option elected will be processed when we receive satisfactory proof of death, any required instructions for the method of payment and any required information and forms necessary to effect payment. BENEFICIARY CONTINUATION OPTION FOR NQ CONTRACTS ONLY. This feature, also known as the inherited annuity, may only be elected when the NQ contract owner dies before the date annuity payments are to begin, whether or not the owner and the annuitant are the same person. If the owner and annuitant are different and the owner dies before the annuitant, for purposes of this discussion, "beneficiary" refers to the successor owner. For a discussion of successor owner, see "When an NQ contract owner dies before the annuitant" earlier in this section. This feature must be elected within 9 months following the date of your death and before any other inconsistent election is made. Beneficiaries who do not make a timely election will not be eligible for this option. Generally, payments will be made once a year to the beneficiary over the beneficiary's life expectancy, determined on a term certain basis and in the year payments start. These payments must begin no later than one year after the date of your death and are referred to as "scheduled payments." The beneficiary may choose the "5-year rule" instead of scheduled payments over life expectancy. If the beneficiary chooses the 5-year rule, there will be no scheduled payments. Under the 5-year rule, the beneficiary may take withdrawals as desired, but the entire account value must be fully withdrawn by the fifth anniversary of your death. Under the beneficiary continuation option for NQ contracts (regardless of whether the owner and annuitant are the same person): o This feature is only available if the beneficiary is an individual. It is not available for any entity such as a trust, even if all of the beneficiaries of the trust are individuals. o The contract continues with your name on it for the benefit of your beneficiary. o If there is more than one beneficiary, each beneficiary's share will be separately accounted for. It will be distributed over the respective beneficiary's own life expectancy, if scheduled payments are chosen. Payment of death benefit 45 o The minimum amount that is required in order to elect the beneficiary continuation option is $5,000 for each beneficiary. o The beneficiary may make transfers among the investment options but no additional contributions will be permitted. o The minimum death benefit or the ratcheted death benefit, if applicable under your contract, will no longer be in effect and the charge for the ratcheted death benefit will stop. o If the beneficiary chooses the "5-year rule," withdrawals may be made at any time. If the beneficiary chooses scheduled payments, the beneficiary must also choose between two potential withdrawal options at the time of election. "Withdrawal Option 1" permits total surrender only. "Withdrawal Option 2" permits the beneficiary to take withdrawals, in addition to scheduled payments, at any time. See "Taxation of nonqualified annuities" in "Tax information" later in this prospectus. o Any partial withdrawal must be at least $300. o Your beneficiary will have the right to name a beneficiary to receive any remaining interest in the contract on the beneficiary's death. o Upon the death of your beneficiary, the beneficiary that he or she has named has the option to either continue taking scheduled payments based on the remaining life expectancy of the deceased beneficiary (if scheduled payments were chosen) or to receive any remaining interest in the contract in a lump sum. We will pay any remaining interest in the contract in a lump sum if your beneficiary elects the 5-year rule. The option elected will be processed when we receive satisfactory proof of death, any required instructions for the method of payment and any required information and forms necessary to effect payment. If you are both the owner and annuitant: o As of the date we receive satisfactory proof of death, any required instructions, information and forms necessary to effect the beneficiary continuation option feature, we will increase the account value to equal the applicable death benefit if such death benefit is greater than such account value. The increase in account value will be allocated to the investment options according to the allocation percentages we have on file for your contract. o No withdrawal charges will apply to any withdrawals by the beneficiary. If the owner and annuitant are not the same person: o If the beneficiary continuation option is elected, the beneficiary automatically becomes the new annuitant of the contract, replacing the existing annuitant. o The account value will not be reset to the death benefit amount. o The withdrawal charge schedule and free corridor amount on the contract will continue to be applied to any withdrawal or surrender other than scheduled payments. o We do not impose a withdrawal charge on scheduled payments except if, when added to any withdrawals previously taken in the same contract year, including for this purpose a contract surrender, the total amount of withdrawals and scheduled payments exceeds the free corridor amount. See "Withdrawal charge" in "Charges and expenses" earlier in this prospectus. If a contract is jointly owned: o The surviving owner supersedes any other named beneficiary and may elect the beneficiary continuation option. o If the deceased joint owner was also the annuitant, see "If you are both the owner and annuitant" above. o If the deceased joint owner was not the annuitant, see "If the owner and annuitant are not the same person" above. 46 Payment of death benefit 7. Tax information - -------------------------------------------------------------------------------- OVERVIEW In this part of the prospectus, we discuss the current federal income tax rules that generally apply to EQUI-VEST(SM) contracts owned by United States individual taxpayers. The tax rules can differ, depending on the type of contract, whether NQ, traditional IRA or Roth IRA. Therefore, we discuss the tax aspects of each type of contract separately. Federal income tax rules include the United States laws in the Internal Revenue Code, and Treasury Department Regulations and Internal Revenue Service ("IRS") interpretations of the Internal Revenue Code. These tax rules may change without notice. We cannot predict whether, when, or how these rules could change. Any change could affect contracts purchased before the change. Congress may also consider proposals in the future to comprehensively reform or overhaul the United States tax and retirement systems, which if enacted, could affect the tax benefits of a contract. We cannot predict what, if any legislation will actually be proposed or enacted. We cannot provide detailed information on all tax aspects of the contracts. Moreover, the tax aspects that apply to a particular person's contract may vary depending on the facts applicable to that person. We do not discuss state income and other state taxes, federal income tax and withholding rules for non-U.S. taxpayers, or federal gift and estate taxes. Transfers of the contract, rights or values under the contract, or payments under the contract, for example, amounts due to beneficiaries, may be subject to federal or state gift, estate or inheritance taxes. You should not rely only on this document, but should consult your tax adviser before your purchase. BUYING A CONTRACT TO FUND A RETIREMENT ARRANGEMENT Generally, there are two types of funding vehicles that are available for Individual Retirement Arrangements ("IRAs"): an individual retirement annuity contract such as the ones offered in this prospectus, or a custodial or trusteed individual retirement account. How these arrangements work, including special rules applicable to each, are described in the specific sections for each type of arrangement, below. You should be aware that the funding vehicle for a tax-qualified arrangement does not provide any tax deferral beyond that already provided by the Code for all permissible funding vehicles. Before choosing an annuity contract, therefore, you should consider the annuity's features and benefits, such as the choice of death benefits, selection of variable investment options, provision of a guaranteed interest option and choices of payout options, as well as the features and benefits of other permissible funding vehicles and the relative costs of annuities and other such arrangements. You should be aware that cost may vary depending on the features and benefits made available and the charges and expenses of the portfolios. Certain provisions of the Treasury Regulations on required minimum distributions concerning the actuarial present value of additional contract benefits could increase the amount required to be distributed from individual retirement annuity contracts. For this purpose, additional annuity contract benefits may include enhanced death benefits. You should consider the potential implication of these Regulations before you purchase this annuity contract or purchase additional features under this annuity contract. TRANSFERS AMONG INVESTMENT OPTIONS You can make transfers among investment options inside the contract without triggering taxable income. TAXATION OF NONQUALIFIED ANNUITIES CONTRIBUTIONS You may not deduct the amount of your contributions to a nonqualified annuity contract. CONTRACT EARNINGS Generally, you are not taxed on contract earnings until you receive a distribution from your contract, whether as a withdrawal or as an annuity payment. However, earnings are taxable, even without a distribution: o if a contract fails investment diversification requirements as specified in federal income tax rules (these rules are based on or are similar to those specified for mutual funds under securities laws); o if you transfer a contract, for example, as a gift to someone other than your spouse (or former spouse); o if you use a contract as security for a loan (in this case, the amount pledged will be treated as a distribution); and o if the owner is other than an individual (such as a corporation, partnership, trust, or other non-natural person). This provision does not apply to a trust which is a mere agent or nominee for an individual, such as a grantor trust. All nonqualified deferred annuity contracts that AXA Equitable and its affiliates issue to you during the same calendar year are linked together and treated as one contract for calculating the taxable amount of any distribution from any of those contracts. ANNUITY PAYMENTS Once annuity payments begin, a portion of each payment is taxable as ordinary income. You get back the remaining portion without paying taxes on it. This is your "investment in the contract." Generally, your investment in the contract equals the contributions you made, less any amounts you previously withdrew that were not taxable. For fixed annuity payments, the tax-free portion of each payment is determined by (1) dividing your investment in the contract by the total amount you are expected to receive out of the contract, and (2) multi- Tax information 47 plying the result by the amount of the payment. For variable annuity payments, your tax-free portion of each payment is your investment in the contract divided by the number of expected payments. Once you have received the amount of your investment in the contract, all payments after that are fully taxable. If payments under a life annuity stop because the annuitant dies, there is an income tax deduction for any unrecovered investment in the contract. In order to get annuity payment tax treatment, all amounts under the contract must be applied to the annuity payout option; we do not "partially annuitize" nonqualified deferred annuity contracts. WITHDRAWALS MADE BEFORE ANNUITY PAYMENTS BEGIN If you make withdrawals before annuity payments begin under your contract, they are taxable to you as ordinary income if there are earnings in the contract. Generally, earnings are your account value less your investment in the contract. If you withdraw an amount which is more than the earnings in the contract as of the date of the withdrawal, the balance of the distribution is treated as a return of your investment in the contract and is not taxable. CONTRACTS PURCHASED THROUGH EXCHANGES You may purchase your NQ contract through an exchange of another contract. Normally, exchanges of contracts are taxable events. The exchange will not be taxable under Section 1035 of the Internal Revenue Code if: o The contract that is the source of the funds you are using to purchase the NQ contract is another nonqualified deferred annuity contract (or life insurance or endowment contract). o The owner and the annuitant are the same under the source contract and the EQUI-VEST(SM) NQ contract. If you are using a life insurance or endowment contract the owner and the insured must be the same on both sides of the exchange transaction. The tax basis, also referred to as your investment in the contract, of the source contract carries over to the EQUI-VEST(SM) NQ contract. An owner may direct the proceeds of a partial withdrawal from one nonqualified deferred annuity contract to a different insurer to purchase a new nonqualified deferred annuity contract on a tax-deferred basis. Special forms, agreement between the carriers, and provision of cost basis information may be required to process this type of an exchange. Section 1035 exchanges are generally not available after the death of an owner. SURRENDERS If you surrender or cancel the contract, the distribution is taxable as ordinary income (not capital gain) to the extent it exceeds your investment in the contract. DEATH BENEFIT PAYMENTS MADE TO A BENEFICIARY AFTER YOUR DEATH For the rules applicable to death benefits, see "Payment of death benefit" earlier in this prospectus. The tax treatment of a death benefit taken as a single sum is generally the same as the tax treatment of a withdrawal from or surrender of your contract. The tax treatment of a death benefit taken as annuity payments is generally the same as the tax treatment of annuity payments under your contract. BENEFICIARY CONTINUATION OPTION We have received a private letter ruling from the IRS regarding certain tax consequences of scheduled payments under the beneficiary continuation option for NQ contracts. See the discussion of the beneficiary continuation option for NQ contracts earlier in this prospectus. Among other things, the IRS rules that: o scheduled payments under the beneficiary continuation option for NQ contracts satisfy the death of owner rules of Section 72(s)(2) of the Code, regardless of whether the beneficiary elects Withdrawal Option 1 or Withdrawal Option 2; o scheduled payments, any additional withdrawals under Withdrawal Option 2, or contract surrenders under Withdrawal Option 1 will only be taxable to the beneficiary when amounts are actually paid, regardless of the Withdrawal Option selected by the beneficiary; o a beneficiary who irrevocably elects scheduled payments with Withdrawal Option 1 will receive "excludable amount" tax treatment on scheduled payments. See "Annuity payments" earlier in this section. If the beneficiary elects to surrender the contract before all scheduled payments are paid, the amount received upon surrender is a non-annuity payment taxable to the extent it exceeds any remaining investment in the contract. The ruling specifically does not address the taxation of any payments received by a beneficiary electing Withdrawal Option 2 (whether scheduled payments or any withdrawal that might be taken). The tax treatment of a withdrawal after the death of the owner taken as a single sum or taken as withdrawals under the 5-year rule is generally the same as the tax treatment of a withdrawal from or surrender of your contract. EARLY DISTRIBUTION PENALTY TAX If you take distributions before you are age 59-1/2 a penalty tax of 10% of the taxable portion of your distribution applies in addition to the income tax. Some of the available exceptions to the pre-age 59-1/2 penalty tax include distributions made: o on or after your death; or o because you are disabled (special federal income tax definition); or o in the form of substantially equal periodic annuity payments for your life (or life expectancy) or the joint lives (or joint life expectancy) of you and a beneficiary, in accordance with IRS formulas. INVESTOR CONTROL ISSUES Under certain circumstances, the IRS has stated that you could be treated as the owner (for tax purposes) of the assets of Separate Account A. If you were treated as the owner, you would be taxed on income and gains attributable to the shares of the underlying portfolios. 48 Tax information The circumstances that would lead to this tax treatment would be that, in the opinion of the IRS, you could control the underlying investment of Separate Account A. The IRS has said that the owners of variable annuities will not be treated as owning the separate account assets provided the underlying portfolios are restricted to variable life and annuity assets. The variable annuity owners must have the right only to choose among the portfolios, and must have no right to direct the particular investment decisions within the portfolios. Although we believe that, under current IRS guidance, you would not be treated as the owner of the assets of Separate Account A, there are some issues that remain unclear. For example, the IRS has not issued any guidance as to whether having a large number of portfolios available, or an unlimited right to transfer among them, could cause you to be treated as the owner. We do not know whether the IRS will ever provide such guidance or whether such guidance, if unfavorable, would apply retroactively to your contract. Furthermore, the IRS could reverse its current guidance at any time. We reserve the right to modify your contract as necessary to prevent you from being treated as the owner of the assets of Separate Account A. INDIVIDUAL RETIREMENT ARRANGEMENTS ("IRAS") GENERAL "IRA" stands for individual retirement arrangement. There are two basic types of such arrangements, individual retirement accounts and individual retirement annuities. In an individual retirement account, a trustee or custodian holds the assets funding the account for the benefit of the IRA owner. The assets typically include mutual funds and/ or individual stocks and securities in a custodial account, and bank certificates of deposit in a trusteed account. In an individual retirement annuity, an insurance company issues an annuity contract that serves as the IRA. There are two basic types of IRAs, as follows: o "traditional IRAs," typically funded on a pre-tax basis, including SEP-IRAs and SIMPLE IRAs issued and funded in connection with employer-sponsored retirement plans. o Roth IRAs, funded on an after-tax basis. Regardless of the type of IRA, your ownership interest in the IRA cannot be forfeited. You or your beneficiaries who survive you are the only ones who can receive the IRA's benefits or payments. All types of IRAs qualify for tax deferral, regardless of the funding vehicle selected. You can hold your IRA assets in as many different accounts and annuities as you would like, as long as you meet the rules for setting up and making contributions to IRAs. However, if you own multiple IRAs, you may be required to combine IRA values or contributions for tax purposes. For further information about individual retirement arrangements, you can read Internal Revenue Service Publication 590 ("Individual Retirement Arrangements (IRAs)"). This publication is usually updated annually, and can be obtained from any IRS district office or the IRS website (www.irs.gov). AXA Equitable designs its IRA contracts to qualify as "individual retirement annuities" under Section 408(b) of the Internal Revenue Code. We offer the EQUI-VEST(SM) contract in both traditional IRA and Roth IRA versions. This prospectus contains the information that the IRS requires you to have before you purchase an IRA. The first section covers some of the special tax rules that apply to traditional IRAs. The next section covers Roth IRAs. The disclosure generally assumes direct ownership of the individual retirement annuity contracts. We describe the amount and types of charges that may apply to your contributions under "Charges and expenses" earlier in this prospectus. We describe the method of calculating payments under "Accessing your money" earlier in this prospectus. We do not guarantee or project growth in variable income annuitization option payments (as opposed to payments from a fixed income annuitization option). We have received an opinion letter from the IRS approving the respective forms of the EQUI-VEST(SM) traditional and Roth IRA contracts for use as a traditional IRA and a Roth IRA, respectively. We may no longer rely on the opinion letter for the Roth IRA. This IRS approval is a determination only as to the form of the annuity. It does not represent a determination of the merits of the annuity as an investment. The contracts submitted for IRS approval do not include every feature possibly available under the EQUI-VEST(SM) traditional and Roth IRA contracts. AXA Equitable has applied for opinion letters from the IRS to approve the respective forms of nearly identical versions of the Inherited IRA beneficiary continuation contract for use as a traditional and Roth IRA, respectively. We do not know if and when any such approval may be granted. YOUR RIGHT TO CANCEL WITHIN A CERTAIN NUMBER OF DAYS You can cancel any version of the EQUI-VEST(SM) IRA contract (traditional IRA or Roth IRA) by following the directions under "Your right to cancel within a certain number of days" under "Contract features and benefits" earlier in this prospectus. You can cancel an EQUI-VEST(SM) Roth IRA contract issued as a result of a full or partial conversion of any EQUI-VEST(SM) traditional IRA contract by following the instructions in the "EQUI-VEST(SM) Roth IRA Re-Characterization Form." The form is available from our processing office or your financial professional. If you cancel a traditional IRA or Roth IRA contract, we may have to withhold tax, and we must report the transaction to the IRS. A contract cancellation could have an unfavorable tax impact. TRADITIONAL INDIVIDUAL RETIREMENT ANNUITIES (TRADITIONAL IRAS) CONTRIBUTIONS TO TRADITIONAL IRAS. Generally, individuals may make three different types of contributions to purchase a traditional IRA or as additional contributions to an existing IRA: o "regular" contributions out of earned income or compensation; or o tax-free "rollover" contributions; or o direct custodian-to-custodian transfers from other traditional IRAs ("direct transfers"). REGULAR CONTRIBUTIONS TO TRADITIONAL IRAS. LIMITS ON CONTRIBUTIONS. The "maximum regular contribution amount" for any taxable year is the most that can be contributed to all of your IRAs (traditional and Roth) as regular contributions for the particular taxable year. The maximum regular contribution amount Tax information 49 depends on age, earnings, and year, among other things. Generally, $5,000 is the maximum amount that you may contribute to all IRAs (including Roth IRAs). When your earnings are below $5,000, your earned income or compensation for the year is the most you can contribute. This limit does not apply to rollover contributions or direct custodian-to-custodian transfers into a traditional IRA. You cannot make regular traditional IRA contributions for the taxable year in which you reach age 70-1/2 or any taxable year after that. If you are at least age 50 at any time during the taxable year for which you are making a regular contribution to your IRA, you may be eligible to make additional "catch up contributions" of up to $1,000 to your traditional IRA for the taxable year. SPECIAL RULES FOR SPOUSES. If you are married and file a joint income tax return, you and your spouse may combine your compensation to determine the amount of regular contributions you are permitted to make to traditional IRAs (and Roth IRAs discussed below). Even if one spouse has no compensation, or compensation under $5,000, married individuals filing jointly can contribute up to $10,000 per year to any combination of traditional IRAs and Roth IRAs. Any contributions to Roth IRAs reduce the ability to contribute to traditional IRAs and vice versa. The maximum amount may be less if earned income is less and the other spouse has made IRA contributions. No more than a combined total of $5,000 can be contributed annually to either spouse's traditional and Roth IRAs. Each spouse owns his or her traditional IRAs and Roth IRAs even if the other spouse funded the contributions. A working spouse age 70-1/2 or over can contribute up to the lesser of $5,000 or 100% of "earned income" to a traditional IRA for a nonworking spouse until the year in which the nonworking spouse reaches age 70-1/2. Catch-up contributions may be made as described above for spouses who are at least age 50 but under age 70-1/2 at any time during the taxable year for which the contribution is being made. DEDUCTIBILITY OF CONTRIBUTIONS. The amount of traditional IRA contributions that you can deduct for a taxable year depends on whether you are covered by an employer-sponsored-tax-favored retirement plan, as defined under special federal income tax rules. Your Form W-2 will indicate whether or not you are covered by such a retirement plan. If you are not covered by a retirement plan during any part of the year, you can make fully deductible contributions to your traditional IRAs for the taxable year up to the maximum amount discussed above under "Limits on contributions." That is, your fully deductible contribution can be up to $5,000, or if less, your earned income. The dollar limit is $6,000 for people eligible to make age 50-70-1/2 catch-up contributions. If you are covered by a retirement plan during any part of the year, and your adjusted gross income (AGI) is below the lower dollar figure in a phase-out range, you can make fully deductible contributions to your traditional IRAs. If you are covered by a retirement plan during any part of the year, and your AGI falls within a phase-out range, you can make partially deductible contributions to your traditional IRAs. If you are covered by a retirement plan during any part of the year, and your AGI falls above the higher figure in the phase-out range, you may not deduct any of your regular contributions to your traditional IRAs. Cost of living adjustments apply to the income limits on deductible contributions. If you are single and covered by a retirement plan during any part of the taxable year, the deduction for traditional IRA contributions phases out with AGI between $50,000 and $60,000 (for 2008, AGI between $53,000 and $63,000 after adjustment.) If you are married and file a joint return, and you are covered by a retirement plan during any part of the taxable year, the deduction for traditional IRA contributions phases out with AGI between $80,000 and $100,000 (for 2008, AGI between $85,000 and $105,000 after adjustment). Married individuals filing separately and living apart at all times are not considered married for purposes of this deductible contribution calculation. Generally, the active participation in an employer-sponsored retirement plan of an individual is determined independently for each spouse. Where spouses have "married filing jointly" status, however, the maximum deductible traditional IRA contribution for an individual who is not an active participant (but whose spouse is an active participant) is phased out for taxpayers with AGI of between $150,000 and $160,000 (for 2008, AGI between $159,000 and $169,000 after adjustment.) To determine the deductible amount of the contribution for 2008, for example, you determine AGI and subtract $53,000 if you are single, or $85,000 if you are married and file a joint return with your spouse. The resulting amount is your excess AGI. You then determine the limit on the deduction for traditional IRA contributions using the following formula: ($10,000-excess AGI) times the maximum equals the adjusted - ---------------------- x regular = deductible divided by $10,000 contribution amount contribution for the year limit discussed above ADDITIONAL "SAVER'S CREDIT" FOR CONTRIBUTIONS TO A TRADITIONAL IRA OR ROTH IRA You may be eligible for a nonrefundable income tax credit for contributions you make to a traditional IRA or Roth IRA. If you qualify, you may take this credit even though your traditional IRA contribution is already fully or partially deductible. To take advantage of this "saver's credit" you must be age 18 or over before the end of the taxable year for which the contribution is made. You cannot be a full-time student or claimed as a dependent on another's tax return, and your adjusted gross income cannot exceed $50,000 ($53,000 after cost of living adjustment for 2008). The amount of the tax credit you can get varies from 10% of your contribution to 50% of your contribution, and depends on your income tax filing status and your adjusted gross income. The maximum annual contribution eligible for the saver's credit is $2,000. If you and your spouse file a joint return, and each of you qualifies, each is eligible for a maximum annual contribution of $2,000. Your saver's credit may also be reduced if you take or have taken a taxable distribution from any plan eligible for a saver's credit contribution -- even if you make a contribution to one plan and take the distribution from another plan -- during the "testing period." The "testing period" begins two years before the year for which you make the contribution and ends when your tax return is due for the year for 50 Tax information which you make the contribution including extensions. Saver's-credit-eligible contributions may be made to a 401(k) plan, 403(b) plan, governmental employer 457(b) plan, SIMPLE IRA, or SARSEP IRA, as well as a traditional IRA or Roth IRA. NONDEDUCTIBLE REGULAR CONTRIBUTIONS. If you are not eligible to deduct part or all of the traditional IRA contribution, you may still make nondeductible contributions on which earnings will accumulate on a tax-deferred basis. The combined deductible and nondeductible contributions to your traditional IRA (or the nonworking spouse's traditional IRA) may not, however, exceed the maximum $5,000 per person limit for the applicable taxable year. The dollar limit is $6,000 for people eligible to make age 50-70-1/2 catch-up contributions. See "Excess contributions" below. You must keep your own records of deductible and nondeductible contributions in order to prevent double taxation on the distribution of previously taxed amounts. See "Withdrawals, payments and transfers of funds out of traditional IRAs" below. If you are making nondeductible contributions in any taxable year, or you have made nondeductible contributions to a traditional IRA in prior years and are receiving distributions from any traditional IRA, you must file the required information with the IRS. Moreover, if you are making nondeductible traditional IRA contributions, you must retain all income tax returns and records pertaining to such contributions until interests in all traditional IRAs are fully distributed. WHEN YOU CAN MAKE REGULAR CONTRIBUTIONS. If you file your tax returns on a calendar year basis like most taxpayers, you have until the April 15 return filing deadline (without extensions) of the following calendar year to make your regular traditional IRA contributions for a tax year. ROLLOVER AND TRANSFER CONTRIBUTIONS TO TRADITIONAL IRAS Rollover contributions may be made to a traditional IRA from these "eligible retirement plans": o qualified plans; o governmental employer 457(b) plans, also referred to as "governmental employer EDC plans"; o 403(b) plans; and o other traditional IRAs. Direct transfer contributions may only be made directly from one traditional IRA to another. Any amount contributed to a traditional IRA after you reach age 70-1/2 must be net of your required minimum distribution for the year in which the rollover or direct transfer contribution is made. ROLLOVERS FROM "ELIGIBLE RETIREMENT PLANS" OTHER THAN TRADITIONAL IRAS Your plan administrator will tell you whether or not your distribution is eligible to be rolled over. Spousal beneficiaries and spousal alternate payees under qualified domestic relations orders may roll over funds on the same basis as the plan participant. A non-spousal death beneficiary may also be able to make a direct rollover to an inherited traditional IRA under certain circumstances. There are two ways to do rollovers: o Do it yourself: You actually receive a distribution that can be rolled over and you roll it over to a traditional IRA within 60 days after the date you receive the funds. The distribution from your eligible retirement plan will be net of 20% mandatory federal income tax withholding. If you want, you can replace the withheld funds yourself and roll over the full amount. o Direct rollover: You tell the trustee or custodian of the eligible retirement plan to send the distribution directly to your traditional IRA issuer. Direct rollovers are not subject to mandatory federal income tax withholding. All distributions from a qualified plan, 403(b) plan or governmental employer 457(b) plan are eligible rollover distributions, unless the distribution is: o "a required minimum distribution" after age 70-1/2 or retirement; or o one of a series of substantially equal periodic payments made at least annually for your life (or life expectancy) or the joint lives (or joint life expectancies) of you and your designated beneficiary; or o one of a series of substantially equal periodic payments made for a specified period of 10 years or more; or o a hardship withdrawal; or o a corrective distribution which fits specified technical tax rules; or o a loan that is treated as a distribution; or o a death benefit payment to a beneficiary who is not your surviving spouse; or o a qualified domestic relations order distribution to a beneficiary who is not your current or former spouse. You should discuss with your tax adviser whether you should consider rolling over funds from one type of tax qualified retirement plan to another, because the funds will generally be subject to the rules of the recipient plan. For example, funds in a governmental employer 457(b) plan are not subject to the additional 10% federal income tax penalty for premature distributions, but they may become subject to this penalty if you roll the funds to a different type of eligible retirement plan, such as a traditional IRA, and subsequently take a premature distribution. ROLLOVERS OF AFTER-TAX CONTRIBUTIONS FROM ELIGIBLE RETIREMENT PLANS OTHER THAN TRADITIONAL IRAS Any non-Roth after-tax contributions you have made to a qualified plan or 403(b) plan (but not a governmental employer 457(b) plan) may be rolled over to a traditional IRA (either in a direct rollover or a rollover you do yourself). When the recipient plan is a traditional IRA, you are responsible for recordkeeping and calculating the taxable Tax information 51 amount of any distributions you take from that traditional IRA. See "Taxation of payments" later in this prospectus under "Withdrawals, payments and transfers of funds out of traditional IRAs." After-tax contributions in a traditional IRA cannot be rolled over from your traditional IRA into, or back into, a qualified plan, 403(b) plan or governmental employer 457(b) plan. ROLLOVERS FROM TRADITIONAL IRAS TO TRADITIONAL IRAS You may roll over amounts from one traditional IRA to one or more of your other traditional IRAs if you complete the transaction within 60 days after you receive the funds. You may make such a rollover only once in every 12-month period for the same funds. Trustee-to-trustee or custodian-to-custodian direct transfers are not rollover transactions. You can make these more frequently than once in every 12-month period. SPOUSAL ROLLOVER AND DIVORCE-RELATED DIRECT TRANSFERS The surviving spousal beneficiary of a deceased individual can roll over funds from, or directly transfer funds from, an inherited traditional IRA to one or more other traditional IRAs. A non-spousal death beneficiary may also be able to make a direct rollover to an inherited traditional IRA under certain circumstances. Also, in some cases, traditional IRAs can be transferred on a tax-free basis between spouses or former spouses as a result of a court ordered divorce or separation decree. EXCESS CONTRIBUTIONS Excess contributions to IRAs are subject to a 6% excise tax for the year in which made and for each year after until withdrawn. The following are excess contributions to IRAs: o regular contributions of more than the maximum regular contribution amount for the applicable taxable year; or o regular contributions to a traditional IRA made after you reach age 70-1/2; or o rollover contributions of amounts which are not eligible to be rolled over, for example, minimum distributions required to be made after age 70-1/2. You can avoid the excise tax by withdrawing an excess contribution (rollover or regular) before the due date (including extensions) for filing your federal income tax return for the year. If it is an excess regular traditional IRA contribution, you cannot take a tax deduction for the amount withdrawn. You do not have to include the excess contribution withdrawn as part of your income. It is also not subject to the 10% additional penalty tax on early distributions, discussed below under "Early distribution penalty tax." You do have to withdraw any earnings that are attributed to the excess contribution. The withdrawn earnings would be included in your gross income and could be subject to the 10% penalty tax. Even after the due date for filing your return, you may withdraw an excess rollover contribution, without income inclusion or 10% penalty, if: (1) the rollover was from an eligible retirement plan to a traditional IRA; (2) the excess contribution was due to incorrect information that the plan provided; and (3) you took no tax deduction for the excess contribution. RECHARACTERIZATIONS Amounts that have been contributed as traditional IRA funds may subsequently be treated as Roth IRA funds. Special federal income tax rules allow you to change your mind again and have amounts that are subsequently treated as Roth IRA funds, once again treated as traditional IRA funds. You do this by using the forms we prescribe. This is referred to as having "recharacterized" your contribution. WITHDRAWALS, PAYMENTS AND TRANSFERS OF FUNDS OUT OF TRADITIONAL IRAS NO FEDERAL INCOME TAX LAW RESTRICTIONS ON WITHDRAWALS. You can withdraw any or all of your funds from a traditional IRA at any time. You do not need to wait for a special event like retirement. TAXATION OF PAYMENTS. Earnings in traditional IRAs are not subject to federal income tax until you or your beneficiary receive them. Taxable payments or distributions include withdrawals from your contract, surrender of your contract, and annuity payments from your contract. Death benefits are also taxable. Except as discussed below, the total amount of any distribution from a traditional IRA must be included in your gross income as ordinary income. We report all payments from traditional IRA contracts on IRS Form 1099-R as fully taxable. If you have ever made nondeductible IRA contributions to any traditional IRA (it does not have to be to this particular traditional IRA contract), those contributions are recovered tax free when you get distributions from any traditional IRA. It is your responsibility to keep permanent tax records of all of your nondeductible contributions to traditional IRAs so that you can correctly report the taxable amount of any distribution on your own tax return. At the end of any year in which you have received a distribution from any traditional IRA, you calculate the ratio of your total nondeductible traditional IRA contributions (less any amounts previously withdrawn tax free) to the total account balances of all traditional IRAs you own at the end of the year plus all traditional IRA distributions made during the year. Multiply this by all distributions from the traditional IRA during the year to determine the nontaxable portion of each distribution. A distribution from a traditional IRA is not taxable if: o the amount received is a withdrawal of excess contributions, as described under "Excess contributions" above; or o the entire amount received is rolled over to another traditional IRA or other eligible retirement plan which agrees to accept the funds. (See "Rollovers from eligible retirement plans other than traditional IRAs" under "Rollover and transfer contributions to traditional IRAs" above.) The following are eligible to receive rollovers of distributions from a traditional IRA: a qualified plan, a 403(b) plan or a governmental employer 457(b) plan. After-tax contributions in a traditional IRA cannot be rolled from your traditional IRA into, or back into, a qualified 52 Tax information plan, 403(b) plan or governmental employer 457(b) plan. Before you decide to roll over a distribution from a traditional IRA to another eligible retirement plan, you should check with the administrator of that plan about whether the plan accepts rollovers and, if so, the types it accepts. You should also check with the administrator of the receiving plan about any documents required to be completed before it will accept a rollover. Distributions from a traditional IRA are not eligible for favorable ten-year averaging and long-term capital gain treatment available under limited circumstances for certain distributions from qualified plans. If you might be eligible for such tax treatment from your qualified plan, you may be able to preserve such tax treatment even though an eligible rollover from a qualified plan is temporarily rolled into a "conduit IRA" before being rolled back into a qualified plan. See your tax adviser. REQUIRED MINIMUM DISTRIBUTIONS BACKGROUND ON REGULATIONS -- REQUIRED MINIMUM DISTRIBUTIONS. Distributions must be made from traditional IRAs according to rules contained in the Code and Treasury Regulations. Certain provisions of the Treasury Regulations require that the actuarial present value of additional annuity contract benefits must be added to the dollar amount credited for purposes of calculating certain types of required minimum distributions from individual retirement annuity contracts. For this purpose additional annuity contract benefits may include enhanced death benefits. This could increase the amount required to be distributed from these contracts. LIFETIME REQUIRED MINIMUM DISTRIBUTIONS. You must start taking annual distributions from your traditional IRAs for the year in which you turn age 70-1/2. WHEN YOU HAVE TO TAKE THE FIRST LIFETIME REQUIRED MINIMUM DISTRIBUTION. The first required minimum distribution is for the calendar year in which you turn age 70-1/2. You have the choice to take this first required minimum distribution during the calendar year you actually reach age 70-1/2, or to delay taking it until the first three-month period in the next calendar year (January 1 - April 1). Distributions must start no later than your "Required Beginning Date," which is April 1st of the calendar year after the calendar year in which you turn age 70-1/2. If you choose to delay taking the first annual minimum distribution, then you will have to take two minimum distributions in that year -- the delayed one for the first year and the one actually for that year. Once minimum distributions begin, they must be made at some time each year. HOW YOU CAN CALCULATE REQUIRED MINIMUM DISTRIBUTIONS. There are two approaches to taking required minimum distributions -- "account-based" or "annuity-based." ACCOUNT-BASED METHOD. If you choose an account-based method, you divide the value of your traditional IRA as of December 31st of the past calendar year by a number corresponding to your age from an IRS table. This gives you the required minimum distribution amount for that particular IRA for that year. If your spouse is your sole beneficiary and more than 10 years younger than you, the dividing number you use may be from another IRS table and may produce a smaller lifetime required minimum distribution amount. Regardless of the table used, the required minimum distribution amount will vary each year as the account value, the actuarial present value of additional annuity contract benefits, if applicable, and the divisor change. If you initially choose an account-based method, you may later apply your traditional IRA funds to a life annuity-based payout with any certain period not exceeding remaining life expectancy, determined in accordance with IRS tables. ANNUITY-BASED METHOD. If you choose an annuity-based method, you do not have to do annual calculations. You apply the account value to an annuity payout for your life or the joint lives of you and a designated beneficiary, or for a period certain not extending beyond applicable life expectancies, determined in accordance with IRS tables. DO YOU HAVE TO PICK THE SAME METHOD TO CALCULATE YOUR REQUIRED MINIMUM DISTRIBUTIONS FOR ALL OF YOUR TRADITIONAL IRAS AND OTHER RETIREMENT PLANS? No. If you want, you can choose a different method for each of your traditional IRAs and other retirement plans. For example, you can choose an annuity payout from one IRA, a different annuity payout from a qualified plan, and an account-based annual withdrawal from another IRA. WILL WE PAY YOU THE ANNUAL AMOUNT EVERY YEAR FROM YOUR TRADITIONAL IRA BASED ON THE METHOD YOU CHOOSE? We will only pay you automatically if you affirmatively select an annuity payout option or an account-based withdrawal option such as our minimum distribution withdrawal option. If you do not elect one of these options, we will calculate the amount of the required minimum distribution withdrawal for you, if you so request in writing. However, in that case you will be responsible for asking us to pay the required minimum distribution withdrawal to you. Also, the IRS will let you calculate the required minimum distribution for each traditional IRA that you maintain, using the method that you picked for that particular IRA. You can add these required minimum distribution amount calculations together. As long as the total amount you take out every year satisfies your overall traditional IRA required minimum distribution amount, you may choose to take your annual required minimum distribution from any one or more traditional IRAs that you own. WHAT IF YOU TAKE MORE THAN YOU NEED TO FOR ANY YEAR? The required minimum distribution amount for your traditional IRAs is calculated on a year-by-year basis. There are no carry-back or carry-forward provisions. Also, you cannot apply required minimum distribution amounts you take from your qualified plans to the amounts you have to take from your traditional IRAs and vice versa. WHAT IF YOU TAKE LESS THAN YOU NEED TO FOR ANY YEAR? Your IRA could be disqualified, and you could have to pay tax on the entire value. Even if your IRA is not disqualified, you could have to pay a 50% penalty tax on the shortfall (required amount for traditional IRAs less amount actually taken). It is your responsibility to meet the required minimum distribution rules. We will remind you when our records show that you are within the age group which must take lifetime required minimum distributions. If you do not select a method with us, we will assume you are taking your required minimum distribution from another traditional IRA that you own. Tax information 53 WHAT ARE THE REQUIRED MINIMUM DISTRIBUTION PAYMENTS AFTER YOU DIE? These could vary depending on whether you die before or after your Required Beginning Date for lifetime required minimum distribution payments, and the status of your beneficiary. The following assumes that you have not yet elected an annuity-based payout at the time of your death. If you elect an annuity-based payout, payments (if any) after your death must be made at least as rapidly as when you were alive. INDIVIDUAL BENEFICIARY. Regardless of whether your death occurs before or after your Required Beginning Date, an individual death beneficiary calculates annual post-death required minimum distribution payments based on the beneficiary's life expectancy using the "term certain method." That is, he or she determines his or her life expectancy using the IRS-provided life expectancy tables as of the calendar year after the owner's death and reduces that number by one each subsequent year. If you die before your Required Beginning Date, the rules permit any individual beneficiary, including a spousal beneficiary, to elect instead to apply the "5-year rule." Under this rule, instead of annual payments having to be made beginning with the first in the year following the owner's death, the entire account must be distributed by the end of the calendar year which contains the fifth anniversary of the owner's death. No distribution is required before that fifth year. SPOUSAL BENEFICIARY. If you die after your Required Beginning Date, and your death beneficiary is your surviving spouse, your spouse has a number of choices. Post-death distributions may be made over your spouse's single life expectancy. Any amounts distributed after that surviving spouse's death are made over the spouse's life expectancy calculated in the year of his/her death, reduced by one for each subsequent year. In some circumstances, your surviving spouse may elect to become the owner of the traditional IRA and halt distributions until he or she reaches age 70-1/2, or roll over amounts from your traditional IRA into his/her own traditional IRA or other eligible retirement plan. If you die before your Required Beginning Date, and the death beneficiary is your surviving spouse, the rules permit the spouse to delay starting payments over his/her life expectancy until the year in which you would have attained age 70-1/2. NON-INDIVIDUAL BENEFICIARY. If you die after your Required Beginning Date, and your death beneficiary is a non-individual, such as the estate, the rules permit the beneficiary to calculate post-death required minimum distribution amounts based on the owner's life expectancy in the year of death. However, note that we need an individual annuitant to keep an annuity contract in force. If the beneficiary is not an individual, we must distribute amounts remaining in the annuity contract after the death of the annuitant. If you die before your Required Beginning Date for lifetime required minimum distribution payments, and the death beneficiary is a non-individual, such as the estate, the rules continue to apply the 5-year rule discussed above under "Individual beneficiary." Please note that we need an individual annuitant to keep an annuity contract in force. If the beneficiary is not an individual, we must distribute amounts remaining in the annuity contract after the death of the annuitant. SUCCESSOR ANNUITANT AND OWNER If your spouse is the sole primary beneficiary and elects to become the successor annuitant and owner, no death benefit is payable until your surviving spouse's death. The required minimum distribution rules are applied as if your surviving spouse is the contract owner. PAYMENTS TO A BENEFICIARY AFTER YOUR DEATH IRA death benefits are taxed the same as IRA distributions. BORROWING AND LOANS ARE PROHIBITED TRANSACTIONS You cannot get loans from a traditional IRA. You cannot use a traditional IRA as collateral for a loan or other obligation. If you borrow against your IRA or use it as collateral, its tax-favored status will be lost as of the first day of the tax year in which this prohibited event occurs. If this happens, you must include the value of the traditional IRA in your federal gross income. Also, the early distribution penalty tax of 10% may apply if you have not reached age 59-1/2 before the first day of that tax year. EARLY DISTRIBUTION PENALTY TAX A penalty tax of 10% of the taxable portion of a distribution applies to distributions from a traditional IRA made before you reach age 59-1/2. Some of the available exceptions to the pre-age 59-1/2 penalty tax include distributions made: o on or after your death; or o because you are disabled (special federal income tax definition); or o used to pay certain extraordinary medical expenses (special federal income tax definition); or o used to pay medical insurance premiums for unemployed individuals (special federal income tax definition); or o used to pay certain first-time home buyer expenses (special federal income tax definition; $10,000 lifetime total limit for these distributions from all your traditional and Roth IRAs); or o used to pay certain higher education expenses (special federal income tax definition); or o in the form of substantially equal periodic payments made at least annually over your life (or your life expectancy), or over the joint lives of you and your beneficiary (or your joint life expectancy) using an IRS-approved distribution method. 54 Tax information ROTH INDIVIDUAL RETIREMENT ANNUITIES ("ROTH IRAS") This section of the prospectus covers some of the special tax rules that apply to Roth IRAs. If the rules are the same as those that apply to the traditional IRA, we will refer you to the same topic under "Traditional IRAs." The EQUI-VEST(SM) Roth IRA contracts are designed to qualify as Roth individual retirement annuities under Sections 408A(b) and 408(b) of the Internal Revenue Code. CONTRIBUTIONS TO ROTH IRAS Individuals may make four different types of contributions to a Roth IRA: o regular after-tax contributions out of earnings; or o taxable rollover contributions from traditional IRAs or other eligible retirement plans ("conversion" rollover contributions); or o tax-free rollover contributions from other Roth individual retirement arrangements; or o tax-free direct custodian-to-custodian transfers from other Roth IRAs ("direct transfers"). If you use the forms we require, we will also accept traditional IRA funds which are subsequently recharacterized as Roth IRA funds following special federal income tax rules. REGULAR CONTRIBUTIONS TO ROTH IRAS LIMITS ON REGULAR CONTRIBUTIONS. The "maximum regular contribution amount" for any taxable year is the most that can be contributed to all of your IRAs (traditional and Roth) as regular contributions for the particular taxable year. The maximum regular contribution amount depends on age, earnings, and year, among other things. Generally, $5,000 is the maximum amount that you may contribute to all IRAs (including Roth IRAs). This limit does not apply to rollover contributions or direct custodian-to-custodian transfers into a Roth IRA. Any contributions to Roth IRAs reduce your ability to contribute to traditional IRAs and vice versa. When your earnings are below $5,000, your earned income or compensation for the year is the most you can contribute. If you are married and file a joint income tax return, you and your spouse may combine your compensation to determine the amount of regular contributions you are permitted to make to Roth IRAs and traditional IRAs. See the discussion above under "Special rules for spouses" earlier in this section under traditional IRAs. If you or your spouse are at least age 50 at any time during the taxable year for which you are making a regular contribution, you may be eligible to make additional catch-up contributions of up to $1,000. With a Roth IRA, you can make regular contributions when you reach 70-1/2, as long as you have sufficient earnings. But, you cannot make contributions, regardless of your age, for any year that your modified adjusted gross income exceeds the following amounts (indexed for cost of living adjustment): o your federal income tax filing status is "married filing jointly" and your modified adjusted gross income is over $160,000 (for 2008, $169,000 after adjustment); or, o your federal income tax filing status is "single" and your modified adjusted gross income is over $110,000 (for 2008, $116,000 after adjustment). However, you can make regular Roth IRA contributions in reduced amounts when: o your federal income tax filing status is "married filing jointly" and your modified adjusted gross income is between $150,000 and $160,000 (for 2008, between $159,000 and $169,000 after adjustment); or o your federal income tax filing status is "single" and your modified adjusted gross income is between $95,000 and $110,000 (for 2008, between $101,000 and $116,000 after adjustment). If you are married and filing separately and your modified adjusted gross income is between $0 and $10,000 the amount of regular contribution you are permitted to make is phased out. If your modified adjusted gross income is more than $10,000 you cannot make a regular Roth IRA contribution. WHEN CAN YOU MAKE CONTRIBUTIONS? Same as traditional IRAs. DEDUCTIBILITY OF CONTRIBUTIONS. Roth IRA contributions are not tax deductible. ROLLOVERS AND DIRECT TRANSFERS WHAT IS THE DIFFERENCE BETWEEN ROLLOVER AND DIRECT TRANSFER TRANSACTIONS? The difference between a rollover transaction and a direct transfer transaction is the following: in a rollover transaction you actually take possession of the funds rolled over, or are considered to have received them under tax law in the case of a change from one type of plan to another. In a direct transfer transaction, you never take possession of the funds, but direct the first Roth IRA custodian, trustee, or issuer to transfer the first Roth IRA funds directly to the recipient Roth IRA custodian, trustee or issuer. You can make direct transfer transactions only between identical plan types (for example, Roth IRA to Roth IRA). You can also make rollover transactions between identical plan types. However, you can only make rollovers between different plan types (for example, traditional IRA to Roth IRA). You may make rollover contributions to a Roth IRA from these sources only: o another Roth IRA; o a traditional IRA, including a SEP-IRA or SIMPLE IRA (after a two-year rollover limitation period for SIMPLE IRA funds), in a taxable conversion rollover ("conversion rollover"); o a "designated Roth contribution account" under a 401(k) plan or a 403(b) plan (direct or 60-day); or Tax information 55 o from non-Roth accounts under another eligible retirement plan subject to limits specified below under "Conversion rollover contributions to Roth IRAs." You may make direct transfer contributions to a Roth IRA only from another Roth IRA. You may make both Roth IRA to Roth IRA rollover transactions and Roth IRA to Roth IRA direct transfer transactions. This can be accomplished on a completely tax-free basis. However, you may make Roth IRA to Roth IRA rollover transactions only once in any 12-month period for the same funds. Trustee-to-trustee or custodian-to-custodian direct transfers can be made more frequently than once a year. Also, if you send us the rollover contribution to apply it to a Roth IRA, you must do so within 60 days after you receive the proceeds from the original IRA to get rollover treatment. The surviving spousal beneficiary of a deceased individual can roll over or directly transfer an inherited Roth IRA to one or more other Roth IRAs. In some cases, Roth IRAs can be transferred on a tax-free basis between spouses or former spouses as a result of a court-ordered divorce or separation decree. CONVERSION ROLLOVER CONTRIBUTIONS TO ROTH IRAS In a conversion rollover transaction, you withdraw (or are considered to have withdrawn) all or a portion of funds from a traditional IRA you maintain and convert it to a Roth IRA within 60 days after you receive (or are considered to have received) the traditional IRA proceeds. Beginning in 2008 amounts can also be rolled over from non-Roth accounts under another eligible retirement plan, including a Code Section 401(a) qualified plan, a 403(b) plan, and a governmental employer Section 457(b) plan. You must meet AGI limits specified below. Unlike a rollover from a traditional IRA to another traditional IRA, a conversion rollover transaction from a traditional IRA or other eligible retirement plan to a Roth IRA is not tax-free. Instead, the distribution from the traditional IRA or other eligible retirement plan is generally fully taxable. In the case of a traditional IRA conversion rollover for example, we are required to withhold 10% federal income tax from the amount treated as converted unless you properly elect out of such withholding. If you are converting all or part of a traditional IRA, and you have ever made nondeductible regular contributions to any traditional IRA -- whether or not it is the traditional IRA you are converting -- a pro rata portion of the distribution is tax free. Even if you are under age 59-1/2, the early distribution penalty tax does not apply to conversion rollover contributions to a Roth IRA. The following rules apply until 2010: You cannot make conversion rollover contributions to a Roth IRA for any taxable year in which your modified adjusted gross income exceeds $100,000. (For this purpose, your modified adjusted gross income is computed without the gross income stemming from the conversion rollover. Modified adjusted gross income for this purpose excludes any lifetime required minimum distribution from a traditional IRA or other eligible retirement plan.) You also cannot make conversion contributions to a Roth IRA for any taxable year in which your federal income tax filing status is "married filing separately." You cannot make conversion contributions to a Roth IRA to the extent that the funds in your traditional IRA or other eligible retirement plan are subject to the lifetime annual required minimum distribution rules. You cannot convert and reconvert an amount during the same taxable year, or if later, during the 30-day period following a recharacterization. If you reconvert during either of these periods, it will be a failed Roth IRA conversion. The IRS and Treasury have issued Proposed and Temporary Treasury Regulations addressing the valuation of annuity contracts funding traditional IRAs in the conversion to Roth IRAs. Although these Regulations are not clear, they could require an individual's gross income on the conversion of a traditional IRA to a Roth IRA to be measured using various actuarial methods and not as if the annuity contract funding the traditional IRA had been surrendered at the time of conversion. This could increase the amount reported as includible in certain circumstances. RECHARACTERIZATIONS You may be able to treat a contribution made to one type of IRA as having been made to a different type of IRA. This is called recharacterizing the contribution. HOW TO RECHARACTERIZE. To recharacterize a contribution, you generally must have the contribution transferred from the first IRA (the one to which it was made) to the second IRA in a deemed trustee-to-trustee transfer. If the transfer is made by the due date (including extensions) for your tax return for the year during which the contribution was made, you can elect to treat the contribution as having been originally made to the second IRA instead of to the first IRA. It will be treated as having been made to the second IRA on the same date that it was actually made to the first IRA. You must report the recharacterization, and must treat the contribution as having been made to the second IRA, instead of the first IRA, on your tax return for the year during which the contribution was made. The contribution will not be treated as having been made to the second IRA unless the transfer includes any net income allocable to the contribution. You can take into account any loss on the contribution while it was in the IRA when calculating the amount that must be transferred. If there was a loss, the net income you must transfer may be a negative amount. No deduction is allowed for the contribution to the first IRA and any net income transferred with the recharacterized contribution is treated as earned in the second IRA. The contribution will not be treated as having been made to the second IRA to the extent any deduction was allowed with respect to the contribution to the first IRA. For recharacterization purposes, a distribution from a traditional IRA that is received in one tax year and rolled over into a Roth IRA in the next year, but still within 60 days of the distribution from the traditional IRA, is treated as a contribution to the Roth IRA in the year of the distribution from the traditional IRA. Roth IRA conversion contributions from a SEP-IRA or SIMPLE IRA can be recharacterized to a SEP-IRA or SIMPLE IRA (including the original 56 Tax information SEP-IRA or SIMPLE IRA). You cannot recharacterize back to the original plan a contribution directly rolled over from an eligible retirement plan which is not a traditional IRA. The recharacterization of a contribution is not treated as a rollover for purposes of the 12 month limitation period described above. This rule applies even if the contribution would have been treated as a rollover contribution by the second IRA if it had been made directly to the second IRA rather than as a result of a recharacterization of a contribution to the first IRA. To recharacterize a contribution you must use our forms. WITHDRAWALS, PAYMENTS AND TRANSFERS OF FUNDS OUT OF ROTH IRAS NO FEDERAL INCOME TAX LAW RESTRICTIONS ON WITHDRAWALS. You can withdraw any or all of your funds from a Roth IRA at any time; you do not need to wait for a special event like retirement. DISTRIBUTIONS FROM ROTH IRAS Distributions include withdrawals from your contract, surrender and termination of your contract and annuity payments from your contract. Death benefits are also distributions. You must keep your own records of regular and conversion contributions to all Roth IRAs to assure appropriate taxation. You may have to file information on your contributions to and distributions from any Roth IRA on your tax return. You may have to retain all income tax returns and records pertaining to such contributions and distributions until your interests in all Roth IRAs are distributed. Like traditional IRAs, taxable distributions from a Roth IRA are not entitled to the special favorable ten-year averaging and long-term capital gain treatment available in limited cases to certain distributions from qualified plans. The following distributions from Roth IRAs are free of income tax: o Rollovers from a Roth IRA to another Roth IRA; o Direct transfers from a Roth IRA to another Roth IRA; o Qualified distributions from a Roth IRA; and o Return of excess contributions or amounts recharacterized to a traditional IRA. QUALIFIED DISTRIBUTIONS FROM ROTH IRAS Qualified distributions from Roth IRAs made because of one of the following four qualifying events or reasons are not includable in income: o you are age 59-1/2 or older; or o you die; or o you become disabled (special federal income tax definition); or o your distribution is a "qualified first-time homebuyer distribution" (special federal income tax definition; $10,000 lifetime total limit for these distributions from all of your traditional and Roth IRAs). You also have to meet a five-year aging period. A qualified distribution is any distribution made after the five-taxable-year period beginning with the first taxable year for which you made any contribution to any Roth IRA (whether or not the one from which the distribution is being made). NONQUALIFIED DISTRIBUTIONS FROM ROTH IRAS Nonqualified distributions from Roth IRAs are distributions that do not meet both the qualifying event and five-year aging period tests described above. If you receive such a distribution, part of it may be taxable. For purposes of determining the correct tax treatment of distributions (other than the withdrawal of excess contributions and the earnings on them), there is a set order in which contributions (including conversion contributions) and earnings are considered to be distributed from your Roth IRA. The order of distributions is as follows: (1) Regular contributions. (2) Conversion contributions, on a first-in-first-out basis (generally, total conversions from the earliest year first). These conversion contributions are taken into account as follows: (a) Taxable portion (the amount required to be included in gross income because of conversion) first, and then the (b) Nontaxable portion. (3) Earnings on contributions. Rollover contributions from other Roth IRAs are disregarded for this purpose. To determine the taxable amounts distributed, distributions and contributions are aggregated or grouped and added together as follows: (1) All distributions made during the year from all Roth IRAs you maintain - with any custodian or issuer - are added together. (2) All regular contributions made during and for the year (contributions made after the close of the year, but before the due date of your return) are added together. This total is added to the total undistributed regular contributions made in prior years. (3) All conversion contributions made during the year are added together. For purposes of the ordering rules, in the case of any conversion in which the conversion distribution is made in 2008 and the conversion contribution is made in 2009, the conversion contribution is treated as contributed prior to the other conversion contributions made in 2009. Any recharacterized contributions that end up in a Roth IRA are added to the appropriate contribution group for the year that the original contribution would have been taken into account if it had been made directly to the Roth IRA. Any recharacterized contribution that ends up in an IRA other than a Roth IRA is disregarded for the purpose of grouping both contributions and distributions. Any amount withdrawn to correct an excess contribution (including the earnings withdrawn) is also disregarded for this purpose. REQUIRED MINIMUM DISTRIBUTIONS Lifetime required minimum distributions do not apply. Tax information 57 REQUIRED MINIMUM DISTRIBUTION AT DEATH Same as traditional IRA under "What are the required minimum distribution payments after you die?", assuming death before the Required Beginning Date. PAYMENTS TO A BENEFICIARY AFTER YOUR DEATH Distributions to a beneficiary generally receive the same tax treatment as if the distribution had been made to you. BORROWING AND LOANS ARE PROHIBITED TRANSACTIONS Same as traditional IRA. EXCESS CONTRIBUTIONS Generally, the same as traditional IRA, except that regular contributions made after age 70-1/2 are not "excess contributions." Excess rollover contributions to Roth IRAs are contributions not eligible to be rolled over (for example, conversion contributions from a traditional IRA if your modified adjusted gross income is in excess of $100,000 in the conversion year). You can withdraw or recharacterize any contribution to a Roth IRA before the due date (including extensions) for filing your federal income tax return for the tax year. If you do this, you must also withdraw or recharacterize any earnings attributable to the contribution. EARLY DISTRIBUTION PENALTY TAX Same as traditional IRA. ILLUSTRATION OF GUARANTEED INTEREST RATES In the following two tables, we provide information that the IRS requires us to furnish to prospective IRA contract owners. In the tables we illustrate the 1.00% minimum guaranteed interest rate for contributions we assume are allocated entirely to the guaranteed interest option. (The rate may be higher in your state.) In Table I we assume a $1,000 contribution made annually on the contract date and on each anniversary after that. In Table II we assume a single initial contribution of $1,000, and no additional contributions. The guaranteed interest rate, which can range from 1.00% to 3.00%, is in the contract. The account values shown reflect no withdrawal charges. The cash values shown reflect the withdrawal charge that applies if you surrender your contract for its cash value. In all cases we assume no transfers. These values reflect the effect of the annual administrative charge deducted at the end of each contract year in which the account value is less than $20,000. To find the appropriate value for the end of the contract year at any particular age, you subtract the age (nearest birthday) at issue of the contract from the current age and find the corresponding year in the table. Years that correspond to a current age over 70, should be ignored, unless the contract is a Roth IRA. You should consider the information shown in the tables in light of your present age. Also, with respect to Table I, you should consider your ability to contribute $1,000 annually. Any change in the amounts contributed annually in Table I, or in the amount of the single contribution in Table II would, of course, change the results shown. 58 Tax information Table I at the guaranteed minimum rate of 1.00% (the rate may be higher in your state) TABLE I ACCOUNT VALUES AND CASH VALUES (ASSUMING $1,000 CONTRIBUTIONS MADE ANNUALLY AT THE BEGINNING OF THE CONTRACT YEAR)
- -------------------------------------------------------------------------------- 1.00% Minimum Guarantee 1.00% Minimum Guarantee - -------------------------------------------------------------------------------- Contract Account Cash Contract Account Cash Year End Value Value Year End Value Value - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 1 $ 989.80 $ 936.35 26 $ 29,196.26 $ 28,836.26 - -------------------------------------------------------------------------------- 2 $ 1,979.70 $ 1,872.79 27 $ 30,498.22 $ 30,138.22 - -------------------------------------------------------------------------------- 3 $ 2,979.49 $ 2,818.60 28 $ 31,813.20 $ 31,453.20 - -------------------------------------------------------------------------------- 4 $ 3,989.29 $ 3,773.87 29 $ 33,141.33 $ 32,781.33 - -------------------------------------------------------------------------------- 5 $ 5,009.18 $ 4,738.69 30 $ 34,482.75 $ 34,122.75 - -------------------------------------------------------------------------------- 6 $ 6,039.27 $ 5,713.15 31 $ 35,837.57 $ 35,477.57 - -------------------------------------------------------------------------------- 7 $ 7,079.67 $ 6,719.67 32 $ 37,205.95 $ 36,845.95 - -------------------------------------------------------------------------------- 8 $ 8,130.46 $ 7,770.46 33 $ 38,588.01 $ 38,228.01 - -------------------------------------------------------------------------------- 9 $ 9,191.77 $ 8,831.77 34 $ 39,983.89 $ 39,623.89 - -------------------------------------------------------------------------------- 10 $ 10,263.69 $ 9,903.69 35 $ 41,393.73 $ 41,033.73 - -------------------------------------------------------------------------------- 11 $ 11,346.32 $ 10,986.32 36 $ 42,817.67 $ 42,457.67 - -------------------------------------------------------------------------------- 12 $ 12,439.79 $ 12,079.79 37 $ 44,255.84 $ 43,895.84 - -------------------------------------------------------------------------------- 13 $ 13,544.18 $ 13,184.18 38 $ 45,708.40 $ 45,348.40 - -------------------------------------------------------------------------------- 14 $ 14,659.63 $ 14,299.63 39 $ 47,175.49 $ 46,815.49 - -------------------------------------------------------------------------------- 15 $ 15,786.22 $ 15,426.22 40 $ 48,657.24 $ 48,297.24 - -------------------------------------------------------------------------------- 16 $ 16,924.08 $ 16,564.08 41 $ 50,153.81 $ 49,793.81 - -------------------------------------------------------------------------------- 17 $ 18,073.33 $ 17,713.33 42 $ 51,665.35 $ 51,305.35 - -------------------------------------------------------------------------------- 18 $ 19,234.06 $ 18,874.06 43 $ 53,192.00 $ 52,832.00 - -------------------------------------------------------------------------------- 19 $ 20,436.40 $ 20,076.40 44 $ 54,733.92 $ 54,373.92 - -------------------------------------------------------------------------------- 20 $ 21,650.76 $ 21,290.76 45 $ 56,291.26 $ 55,931.26 - -------------------------------------------------------------------------------- 21 $ 22,877.27 $ 22,517.27 46 $ 57,864.18 $ 57,504.18 - -------------------------------------------------------------------------------- 22 $ 24,116.04 $ 23,756.04 47 $ 59,452.82 $ 59,092.82 - -------------------------------------------------------------------------------- 23 $ 25,367.20 $ 25,007.20 48 $ 61,057.35 $ 60,697.35 - -------------------------------------------------------------------------------- 24 $ 26,630.88 $ 26,270.88 49 $ 62,677.92 $ 62,317.92 - -------------------------------------------------------------------------------- 25 $ 27,907.18 $ 27,547.18 50 $ 64,314.70 $ 63,954.70 - --------------------------------------------------------------------------------
Table II at the guaranteed minimum rate of 1.00% (the rate may be higher in your state) TABLE II ACCOUNT VALUES AND CASH VALUES (ASSUMING A SINGLE CONTRIBUTION OF $1,000 AND NO FURTHER CONTRIBUTION)
- -------------------------------------------------------------------------------- 1.00% Minimum Guarantee 1.00% Minimum Guarantee - -------------------------------------------------------------------------------- Contract Account Cash Contract Account Cash Year End Value Value Year End Value Value - -------------------------------------------------------------------------------- 1 $ 989.80 $ 936.35 26 $ 434.76 $ 434.76 - -------------------------------------------------------------------------------- 2 $ 979.70 $ 926.80 27 $ 409.11 $ 409.11 - -------------------------------------------------------------------------------- 3 $ 959.50 $ 907.69 28 $ 383.20 $ 383.20 - -------------------------------------------------------------------------------- 4 $ 939.10 $ 888.38 29 $ 357.03 $ 357.03 - -------------------------------------------------------------------------------- 5 $ 918.49 $ 868.89 30 $ 330.60 $ 330.60 - -------------------------------------------------------------------------------- 6 $ 897.67 $ 849.20 31 $ 303.91 $ 303.91 - -------------------------------------------------------------------------------- 7 $ 876.65 $ 876.65 32 $ 276.95 $ 276.95 - -------------------------------------------------------------------------------- 8 $ 855.42 $ 855.42 33 $ 249.72 $ 249.72 - -------------------------------------------------------------------------------- 9 $ 833.97 $ 833.97 34 $ 222.21 $ 222.21 - -------------------------------------------------------------------------------- 10 $ 812.31 $ 812.31 35 $ 194.44 $ 194.44 - -------------------------------------------------------------------------------- 11 $ 790.43 $ 790.43 36 $ 166.38 $ 166.38 - -------------------------------------------------------------------------------- 12 $ 768.34 $ 768.34 37 $ 138.04 $ 138.04 - -------------------------------------------------------------------------------- 13 $ 746.02 $ 746.02 38 $ 109.42 $ 109.42 - -------------------------------------------------------------------------------- 14 $ 723.48 $ 723.48 39 $ 80.52 $ 80.52 - -------------------------------------------------------------------------------- 15 $ 700.71 $ 700.71 40 $ 51.32 $ 51.32 - -------------------------------------------------------------------------------- 16 $ 677.72 $ 677.72 41 $ 21.84 $ 21.84 - -------------------------------------------------------------------------------- 17 $ 654.50 $ 654.50 42 $ 0.00 $ 0.00 - -------------------------------------------------------------------------------- 18 $ 631.04 $ 631.04 43 $ 0.00 $ 0.00 - -------------------------------------------------------------------------------- 19 $ 607.35 $ 607.35 44 $ 0.00 $ 0.00 - -------------------------------------------------------------------------------- 20 $ 583.43 $ 583.43 45 $ 0.00 $ 0.00 - -------------------------------------------------------------------------------- 21 $ 559.26 $ 559.26 46 $ 0.00 $ 0.00 - -------------------------------------------------------------------------------- 22 $ 534.85 $ 534.85 47 $ 0.00 $ 0.00 - -------------------------------------------------------------------------------- 23 $ 510.20 $ 510.20 48 $ 0.00 $ 0.00 - -------------------------------------------------------------------------------- 24 $ 485.31 $ 485.31 49 $ 0.00 $ 0.00 - -------------------------------------------------------------------------------- 25 $ 460.16 $ 460.16 50 $ 0.00 $ 0.00 - --------------------------------------------------------------------------------
Tax information 59 FEDERAL AND STATE INCOME TAX WITHHOLDING AND INFORMATION REPORTING We must withhold federal income tax from distributions from annuity contracts. You may be able to elect out of this income tax withholding in some cases. Generally, we do not have to withhold if your distributions are not taxable. The rate of withholding will depend on the type of distribution and, in certain cases, the amount of your distribution. Any income tax withheld is a credit against your income tax liability. If you do not have sufficient income tax withheld or do not make sufficient estimated income tax payments, you may incur penalties under the estimated income tax rules. You must file your request not to withhold in writing before the payment or distribution is made. Our processing office will provide forms for this purpose. You cannot elect out of withholding unless you provide us with your correct Taxpayer Identification Number and a United States residence address. You cannot elect out of withholding if we are sending the payment out of the United States. You should note the following special situations: o We might have to withhold and/or report on amounts we pay under a free look or cancellation. o We are generally required to withhold on conversion rollovers of traditional IRAs to Roth IRAs, as it is considered a withdrawal from the traditional IRA and is taxable. o We are required to withhold on the gross amount of a distribution from a Roth IRA to the extent it is reasonable for us to believe that a distribution is includable in your gross income. This may result in tax being withheld even though the Roth IRA distribution is ultimately not taxable. You can elect out of withholding as described below. Special withholding rules apply to foreign recipients and United States citizens residing outside the United States. We do not discuss these rules here in detail. However, we may require additional documentation in the case of payments made to non-United States persons and United States persons living abroad prior to processing any required transaction. Certain states have indicated that state income tax withholding will also apply to payments from the contracts made to residents. In some states, you may elect out of state withholding, even if federal withholding applies. Generally, an election out of federal withholding will also be considered an election out of state withholding. If you need more information concerning a particular state or any required forms, call our processing office at the toll-free number. FEDERAL INCOME TAX WITHHOLDING ON PERIODIC ANNUITY PAYMENTS We withhold differently on "periodic" and "non-periodic" payments. For a periodic annuity payment, for example, unless you specify a different number of withholding exemptions, we withhold assuming that you are married and claiming three withholding exemptions. If you do not give us your correct Taxpayer Identification Number, we withhold as if you are single with no exemptions. Based on the assumption that you are married and claiming three withholding exemptions, if you receive less than $18,720 in periodic annuity payments in 2008 your payments will generally be exempt from federal income tax withholding. You could specify a different choice of withholding exemption or request that tax be withheld. Your withholding election remains effective unless and until you revoke it. You may revoke or change your withholding election at any time. FEDERAL INCOME TAX WITHHOLDING ON NON-PERIODIC ANNUITY PAYMENTS (WITHDRAWALS) For a non-periodic distribution (total surrender, termination, or partial withdrawal), we generally withhold at a flat 10% rate. We apply that rate to the taxable amount in the case of nonqualified contracts, and to the payment amount in the case of traditional IRAs and Roth IRAs, where it is reasonable to assume an amount is includable in gross income. IMPACT OF TAXES TO AXA EQUITABLE The contracts provide that we may charge Separate Account A for taxes. We do not now, but may in the future set up reserves for such taxes. 60 Tax information 8. More information - -------------------------------------------------------------------------------- ABOUT OUR SEPARATE ACCOUNT A Each variable investment option is a subaccount of our Separate Account A. We established Separate Account A in 1968 under special provisions of the New York Insurance Law. These provisions prevent creditors from any other business we conduct from reaching the assets we hold in our variable investment options for owners of our variable annuity contracts. We are the legal owner of all of the assets in Separate Account A and may withdraw any amounts that exceed our reserves and other liabilities with respect to variable investment options under our contracts. For example, we may withdraw amounts from Separate Account A that represent our investments in Separate Account A or that represent fees and charges under the contracts that we have earned. The results of Separate Account A's operations are accounted for without regard to AXA Equitable's other operations. The amount of some of our obligations under the contracts is based on the assets in Separate Account A. However, the obligations themselves are obligations of AXA Equitable. Separate Account A is registered under the Investment Company Act of 1940 and is registered and classified under that act as a "unit investment trust." The SEC, however, does not manage or supervise AXA Equitable or Separate Account A. Although Separate Account A is registered, the SEC does not monitor the activity of Separate Account A on a daily basis. AXA Equitable is not required to register, and is not registered, as an investment company under the Investment Company Act of 1940. Each subaccount (variable investment option) within Separate Account A that is available under the contract invests solely in Class IB/B shares issued by the corresponding portfolio of its Trust. We reserve the right subject to compliance with laws that apply: (1) to add variable investment options to, or to remove variable investment options from, Separate Account A, or to add other separate accounts; (2) to combine any two or more variable investment options; (3) to transfer the assets we determine to be the shares of the class of contracts to which the contracts belong from any variable investment option to another variable investment option; (4) to operate Separate Account A or any variable investment option as a management investment company under the Investment Company Act of 1940 (in which case, charges and expenses that otherwise would be assessed against an underlying mutual fund would be assessed against Separate Account A or a variable investment option directly); (5) to deregister Separate Account A under the Investment Company Act of 1940; (6) to restrict or eliminate any voting rights as to Separate Account A; (7) to cause one or more variable investment options to invest some or all of their assets in one or more other trusts or investment companies; and (8) to unilaterally change your contract in order to comply with any applicable laws and regulations, including but not limited to changes in the Internal Revenue Code, in Treasury Regulations or in published rulings of the Internal Revenue Service and in Department of Labor regulations. Any change in the contract must be in writing and made by our authorized officer. We will provide notice of any contract change. ABOUT THE TRUSTS The Trusts are registered under the Investment Company Act of 1940. They are classified as "open-end management investment companies," more commonly called mutual funds. Each Trust issues different shares relating to each of its portfolios. The Trusts do not impose sales charges or "loads" for buying and selling their shares. All dividends and other distributions on the Trusts' shares are reinvested in full. The Board of Trustees or Board of Directors, as applicable, of each Trust may establish additional portfolios or eliminate existing portfolios at any time. More detailed information about each Trust, its portfolio investment objectives, policies, restrictions, risks, expenses, its Rule 12b-1 Plan relating to the Class IB/B shares, and other aspects of its operations, appears in the prospectuses for each Trust, which generally accompany this prospectus, or in their respective SAIs, which are available upon request. ABOUT OUR FIXED MATURITY OPTIONS RATES TO MATURITY AND PRICE PER $100 OF MATURITY VALUE We can determine the amount required to be allocated to one or more fixed maturity options in order to produce specified maturity values. For example, we can tell you how much you need to allocate per $100 of maturity value. The rates to maturity are determined weekly. The rates in the table below are illustrative only and will most likely differ from the rates applicable at time of purchase. Current rates to maturity can be obtained through TOPS or EQAccess or from your financial professional. The rates to maturity for new allocations as of February 15, 2008 and the related price per $100 of maturity value were as shown below.
- -------------------------------------------------------------------------------- Fixed Maturity Options With June 15th Maturity Date of Rate to Maturity as of Price Per $100 of Maturity Year February 15, 2008 Maturity Value - -------------------------------------------------------------------------------- 2008 3.00%* $ 99.02 2009 3.00%* $ 96.14 2010 3.00%* $ 93.34 2011 3.00%* $ 90.62 2012 3.00%* $ 87.98 2013 3.20% $ 84.53 2014 3.65% $ 79.69 - --------------------------------------------------------------------------------
More information 61
- -------------------------------------------------------------------------------- Fixed Maturity Options With June 15th Maturity Date of Rate to Maturity as of Price Per $100 of Maturity Year February 15, 2008 Maturity Value - -------------------------------------------------------------------------------- 2015 4.05% $ 74.74 2016 4.25% $ 70.68 2017 4.45% $ 66.60 - --------------------------------------------------------------------------------
* Since these rates to maturity are 3%, no amounts could have been allocated to these options. HOW WE DETERMINE THE MARKET VALUE ADJUSTMENT We use the following procedure to calculate the market value adjustment (up or down) we make if you withdraw all of your value from a fixed maturity option before its maturity date. (1) We determine the market adjusted amount on the date of the withdrawal as follows: (a) We determine the fixed maturity amount that would be payable on the maturity date, using the rate to maturity for the fixed maturity option. (b) We determine the period remaining in your fixed maturity option (based on the withdrawal date) and convert it to fractional years based on a 365-day year. For example, three years and 12 days becomes 3.0329. (c) We determine the current rate to maturity that applies on the withdrawal date to new allocations to the same fixed maturity option. (d) We determine the present value of the fixed maturity amount payable at the maturity date, using the period determined in (b) and the rate determined in (c). (2) We determine the fixed maturity amount as of the current date. (3) We subtract (2) from the result in (1)(d). The result is the market value adjustment applicable to such fixed maturity option, which may be positive or negative. - -------------------------------------------------------------------------------- Your market adjusted amount is the present value of the maturity value discounted at the rate to maturity in effect for new contributions to that same fixed maturity option on the date of the calculation. - -------------------------------------------------------------------------------- If you withdraw only a portion of the amount in a fixed maturity option, the market value adjustment will be a percentage of the market value adjustment that would have applied if you had withdrawn the entire value in that fixed maturity option. This percentage is equal to the percentage of the value in the fixed maturity option that you are withdrawing. Any withdrawal charges that are deducted from a fixed maturity option will result in a market value adjustment calculated in the same way. See Appendix III at the end of this prospectus for an example. For purposes of calculating the rate to maturity for new allocations to a fixed maturity option (see (1)(c) above), we use the rate we have in effect for new allocations to that fixed maturity option. We use this rate even if new allocations to that option would not be accepted at that time. This rate will not be less than 3%. If we do not have a rate to maturity in effect for a fixed maturity option to which the "current rate to maturity" in (1)(c) above would apply, we will use the rate at the next closest maturity date. If we are no longer offering new fixed maturity options, the "current rate to maturity" will be determined in accordance with our procedures then in effect. We reserve the right to add up to 0.50% to the current rate in (1)(c) above for purposes of calculating the market value adjustment only. INVESTMENTS UNDER THE FIXED MATURITY OPTIONS Amounts allocated to the fixed maturity options are held in a "nonunitized" separate account we have established under the New York Insurance Law. This separate account provides an additional measure of assurance that we will make full payment of amounts due under the fixed maturity options. Under New York Insurance Law, the portion of the separate account's assets equal to the reserves and other contract liabilities relating to the contracts are not chargeable with liabilities from any other business we may conduct. We own the assets of the separate account, as well as any favorable investment performance on those assets. You do not participate in the performance of the assets held in this separate account. We may, subject to state law that applies, transfer all assets allocated to the separate account to our general account. We guarantee all benefits relating to your value in the fixed maturity options, regardless of whether assets supporting fixed maturity options are held in a separate account or our general account. We have no specific formula for establishing the rates to maturity for the fixed maturity options. We expect the rates to be influenced by, but not necessarily correspond to, among other things, the yields that we can expect to realize on the separate account's investments from time to time. Our current plans are to invest in fixed-income obligations, including corporate bonds, mortgage-backed and asset-backed securities and government and agency issues having durations in the aggregate consistent with those of the fixed maturity options. Although the above generally describes our plans for investing the assets supporting our obligations under the fixed maturity options under the contracts, we are not obligated to invest those assets according to any particular plan except as we may be required to by state insurance laws. We will not determine the rates to maturity we establish by the performance of the nonunitized separate account. ABOUT THE GENERAL ACCOUNT Our general account supports all of our policy and contract guarantees, including those that apply to the guaranteed interest option and the fixed maturity options, as well as our general obligations. The general account is subject to regulation and supervision by the Insurance Department of the State of New York and to the insurance laws and regulations of all jurisdictions where we are authorized to do business. Interests under the contracts in the general account have not been registered and are not required to be registered under the Securities Act of 1933 because of exemptions and exclusionary provisions that apply. The general account is not required to register as an investment company under the Investment Company Act of 1940 and it is not registered as an investment company under the Investment Company Act of 1940. The market value adjustment interests under the contracts, which are held in a separate account, are issued by AXA Equitable and are registered under the Securities Act of 1933. The contract is a "covered security" under the federal securities laws. 62 More information We have been advised that the staff of the SEC has not reviewed the portions of this prospectus that relate to the general account. The disclosure with regard to the general account, however, may be subject to certain provisions of the federal securities laws relating to the accuracy and completeness of statements made in prospectuses. ABOUT OTHER METHODS OF PAYMENT AUTOMATIC INVESTMENT PROGRAM -- FOR NQ, TRADITIONAL IRA, AND ROTH IRA CONTRACTS You may use our automatic investment program, or "AIP," to have a specified amount automatically deducted from a bank checking or savings account, money market checking or savings account, or credit union checking or savings account and contributed as an additional contribution into an NQ, traditional IRA, or Roth IRA contract on a monthly basis. For all forms of IRAs, your contributions are subject to the limits and conditions on contributions described in "Tax information" earlier in this prospectus. AIP additional contributions may be allocated to any of the variable investment options and the guaranteed interest option, but not the fixed maturity options. Our minimum contribution amount requirement is $20. You choose the day of the month you wish to have your account debited. However, you may not choose a date later than the 28th day of the month. You may cancel AIP at any time by notifying our processing office. We are not responsible for any debits made to your account before the time written notice of cancellation is received at our processing office. PAYROLL DEDUCTION PROGRAM. You can authorize your employer to remit your NQ, traditional IRA or Roth IRA contributions to us if your employer has a payroll deduction program. Those contributions are still your contributions, not your employer's. WIRE TRANSFERS. You may also send your contributions by wire transfer from your bank. DATES AND PRICES AT WHICH CONTRACT EVENTS OCCUR We describe below the general rules for when, and at what prices, events under your contract will occur. Other portions of this prospectus describe circumstances that may cause exceptions. We generally do not repeat those exceptions below. BUSINESS DAY Our "business day" is generally any day the New York Stock Exchange ("NYSE") is open for regular trading and generally ends at 4:00 p.m. Eastern Time (or as of an earlier close of regular trading). A business day does not include a day on which we are not open due to emergency conditions determined by the Securities and Exchange Commission. We may also close early due to such emergency conditions. Contributions will be applied and any other transaction requests will be processed when they are received along with all the required information unless another date applies as indicated below. o If your contribution, transfer or any other transaction request containing all the required information reaches us on any of the following, we will use the next business day: - on a non-business day; - after 4:00 p.m. Eastern Time on a business day; or - after an early close of regular trading on the NYSE on a business day. o When a charge is to be deducted on a contract date anniversary that is a non-business day, we will deduct the charge on the next business day. CONTRIBUTIONS, TRANSFERS, WITHDRAWALS AND SURRENDERS o Contributions allocated to the variable investment options are invested at the unit value next determined after the receipt of the contribution. o Contributions allocated to a fixed maturity option will receive the rate to maturity in effect for that fixed maturity option on that business day. o Contributions allocated to the guaranteed interest option will receive the guaranteed interest rate in effect on that business day. o If a fixed maturity option is scheduled to mature on June 15th and June 15th is a non-business day, that fixed maturity option will mature on the prior business day. o Transfers to or from variable investment options will be made at the unit value next determined after the receipt of the transfer request. o Transfers to the guaranteed interest option will receive the guaranteed interest rate in effect on that business day. o Transfers to a fixed maturity option will receive the rate to maturity in effect for that fixed maturity option on that business day. o Transfers out of a fixed maturity option will be at the market adjusted amount on that business day. o For the fixed-dollar option, the first monthly transfer will occur on the last business day of the month in which we receive your election form at our processing office. o For the interest sweep, the first monthly transfer will occur on the last business day of the month following the month that we receive your election form at our processing office. o Quarterly rebalancing will be processed on a calendar year basis. Semiannual or annual rebalancing will be processed on the first business day of the month. Rebalancing will not be done retroactively. o Requests for withdrawals or surrenders will occur on the business day that we receive the information that we require. ABOUT YOUR VOTING RIGHTS As the owner of shares of the Trusts we have the right to vote on certain matters involving the portfolios, such as: o the election of trustees; o the formal approval of independent auditors selected for each Trust; or o any other matters described in each prospectus for the Trusts or requiring a shareholders' vote under the Investment Company Act of 1940. More information 63 We will give contract owners the opportunity to instruct us how to vote the number of shares attributable to their contracts if a shareholder vote is taken. If we do not receive instructions in time from all contract owners, we will vote the shares of a portfolio for which no instructions have been received in the same proportion as we vote shares of that portfolio for which we have received instructions. We will also vote any shares that we are entitled to vote directly because of amounts we have in a portfolio in the same proportions that contract owners vote. The Trusts sell their shares to AXA Equitable separate accounts in connection with AXA Equitable's variable annuity and/or life insurance products, and to separate accounts of insurance companies, both affiliated and unaffiliated with AXA Equitable. AXA Premier VIP Trust and EQ Advisors Trust also sell their shares to the trustee of a qualified plan for AXA Equitable. We currently do not foresee any disadvantages to our contract owners arising out of these arrangements. However, the Board of Trustees or Directors of each Trust intend to monitor events to identify any material irreconcilable conflicts that may arise and to determine what action, if any, should be taken in response. If we believe that a Board's response insufficiently protects our contract owners, we will see to it that appropriate action is taken to do so. SEPARATE ACCOUNT A VOTING RIGHTS If actions relating to Separate Account A require contract owner approval, contract owners will be entitled to one vote for each unit they have in the variable investment options. Each contract owner who has elected a variable annuity payout option may cast the number of votes equal to the dollar amount of reserves we are holding for that annuity in a variable investment option divided by the annuity unit value for that option. We will cast votes attributable to any amounts we have in the variable investment options in the same proportion as votes cast by contract owners. CHANGES IN APPLICABLE LAW The voting rights we describe in this prospectus are created under applicable federal securities laws. To the extent that those laws or the regulations published under those laws eliminate the necessity to submit matters for approval by persons having voting rights in separate accounts of insurance companies, we reserve the right to proceed in accordance with those laws or regulations. ABOUT LEGAL PROCEEDINGS AXA Equitable and its affiliates are parties to various legal proceedings. In our view, none of these proceedings would be considered material with respect to a contract owner's interest in Separate Account A, nor would any of these proceedings be likely to have a material adverse effect upon Separate Account A, our ability to meet our obligations under the contracts, or the distribution of the contracts. FINANCIAL STATEMENTS The financial statements of Separate Account A, as well as the consolidated financial statements of AXA Equitable, are in the SAI. The SAI is available free of charge. You may request one by writing to our processing office or calling 1 (800) 628-6673. TRANSFERS OF OWNERSHIP, COLLATERAL ASSIGNMENTS, LOANS, AND BORROWING You can transfer ownership of an NQ contract at any time before annuity payments begin. We will continue to treat you as the owner until we receive written notification of any change at our processing office. In some cases, an assignment or change of ownership may have adverse tax consequences. See "Tax information" earlier in this prospectus. You cannot assign or transfer ownership of a traditional IRA or Roth IRA contract except by surrender to us. You cannot assign your contract as collateral or security for a loan. Loans are also not available under your contract. For limited transfers of ownership after the owner's death see "Beneficiary continuation option" in "Payment of death benefit" earlier in this prospectus. You may direct the transfer of the values under your traditional IRA or Roth IRA contract to another similar arrangement, under federal income tax rules. In the case of such a transfer, we will impose a withdrawal charge if one applies. DISTRIBUTION OF THE CONTRACTS The contracts are distributed by both AXA Advisors, LLC ("AXA Advisors") and AXA Distributors, LLC ("AXA Distributors") (together, the "Distributors"). The Distributors serve as principal underwriters of Separate Account A The offering of the contracts is intended to be continuous. AXA Advisors is an affiliate of AXA Equitable, and AXA Distributors is an indirect wholly owned subsidiary of AXA Equitable. The Distributors are under the common control of AXA Financial, Inc. Their principal business address is 1290 Avenue of the Americas, New York, NY 10104. The Distributors are registered with the SEC as broker-dealers and are members of the Financial Industry Regulatory Authority, Inc. ("FINRA"). Both broker-dealers also act as distributors for other AXA Equitable life and annuity products. The contracts are sold by financial professionals of AXA Advisors and its affiliates. The contracts are also sold by financial professionals of both affiliated and unaffiliated broker-dealers that have entered into selling agreements with the Distributors ("Selling broker-dealers"). AXA Equitable pays compensation to both Distributors based on contracts sold. Compensation paid to AXA Advisors is based on contributions made on the contracts sold through AXA Advisors ("contribution-based compensation") and will generally not exceed 8.5% of total contributions. AXA Advisors, in turn, may pay a portion of the contribution-based compensation received from AXA Equitable on the sale of a contract to the AXA Advisors financial professional and/or Selling broker-dealer making the sale. In some instances, a financial professional or Selling broker-dealer may elect to receive reduced contribution-based compensation on a contract in combination with ongoing annual compensation of up to 0.60% of the account value of the contract sold ("asset-based compensation"). Total compensation paid to a financial professional or a Selling broker-dealer electing to receive both contribution-based and asset-based compensation could over time exceed the total compensation that would otherwise be paid 64 More information on the basis of contributions alone. The contribution-based and asset-based compensation paid by AXA Advisors varies among financial professionals and among Selling broker-dealers. Contribution-based compensation paid by AXA Equitable to AXA Distributors on sales of AXA Equitable contracts by its Selling broker-dealers will generally not exceed 6.5% of the total contributions made under the contracts. AXA Distributors, in turn, pays the contribution-based compensation it receives on the sale of a contract to the Selling broker-dealer making the sale. In some instances, the Selling broker-dealer may elect to receive reduced contribution-based compensation on the sale of a contract in combination with annual asset-based compensation of up to 0.60% of contract account value. If a Selling broker-dealer elects to receive reduced contribution-based compensation on a contract, the contribution-based compensation which AXA Equitable pays to AXA Distributors will be reduced by the same amount and AXA Equitable will pay AXA Distributors asset-based compensation on the contract equal to the asset-based compensation which AXA Distributors pays to the Selling broker-dealer. Total compensation paid to a Selling broker-dealer electing to receive both contribution-based and asset-based compensation could over time exceed the total compensation that would otherwise be paid on the basis of contributions alone. The contribution-based and asset-based compensation paid by AXA Distributors varies among Selling broker-dealers. AXA Distributors also receives compensation and reimbursement for its marketing services under the terms of its distribution agreement with AXA Equitable. The Distributors may pay certain affiliated and/or unaffiliated Selling broker-dealers and other financial intermediaries additional compensation in recognition of certain expenses that may be incurred by them or on their behalf. The Distributors may also pay certain broker-dealers or other financial intermediaries additional compensation for enhanced marketing opportunities and other services (commonly referred to as "marketing allowances"). Services for which such payments are made may include, but are not limited to, the preferred placement of AXA Equitable and/or EQUI-VEST(SM) on a company and/or product list; sales personnel training; product training; business reporting; technological support; due diligence and related costs; advertising, marketing and related services; conferences; and/or other support services, including some that may benefit the contract owner. Payments may be based on the amount of assets or purchase payments attributable to contracts sold through a Selling broker-dealer or such payments may be a fixed amount. The Distributors may also make fixed payments to Selling broker-dealers in connection with the initiation of a new relationship or the introduction of a new product. These payments may serve as an incentive for Selling broker-dealers to promote the sale of particular products. Additionally, as an incentive for financial professionals of Selling broker-dealers to promote the sale of AXA Equitable products, the Distributors may increase the sales compensation paid to the Selling broker-dealer for a period of time (commonly referred to as "compensation enhancements"). Marketing allowances and sales incentives are made out of the Distributors' assets. Not all Selling broker-dealers receive these kinds of payments. For more information about any such arrangements, ask your financial professional. The Distributors receive 12b-1 fees from certain portfolios for providing certain distribution and/or shareholder support services. The Distributors or their affiliates may also receive payments from the advisers of the portfolios or their affiliates to help defray expenses for sales meetings or seminar sponsorships that may relate to the contracts and/or the advisers' respective portfolios. In an effort to promote the sale of our products, AXA Advisors may provide its financial professionals and managerial personnel with a higher percentage of sales commissions and/or cash compensation for the sale of an affiliated variable product than it would the sale of an unaffiliated product. Such practice is known as providing "differential compensation." In addition, managerial personnel may receive expense reimbursements, marketing allowances and commission-based payments known as "overrides." Certain components of the compensation of financial professionals who are managers are based on the sale of affiliated variable products. Managers earn higher compensation (and credits toward awards and bonuses) if those they manage sell more affiliated variable products. AXA Advisors may provide other forms of compensation to its financial professionals, including health and retirement benefits. For tax reasons, AXA Advisors financial professionals qualify for health and retirement benefits based solely on their sales of our affiliated products. These payments and differential compensation (together, the "payments") can vary in amount based on the applicable product and/or entity or individual involved. As with any incentive, such payments may cause the financial professional to show preference in recommending the purchase or sale of AXA Equitable products. However, under applicable rules of FINRA, AXA Advisors may only recommend to you products that they reasonably believe are suitable for you based on facts that you have disclosed as to your other security holdings, financial situation and needs. In making any recommendation, financial professionals of AXA Advisors may nonetheless face conflicts of interest because of the differences in compensation from one product category to another, and because of differences in compensation between products in the same category. In addition, AXA Advisors may offer sales incentive programs to financial professionals who meet specified production levels for the sale of both affiliated and unaffiliated products which provide non-cash compensation such as stock options awards and/or stock appreciation rights, expense-paid trips, expense-paid educational seminars and merchandise. Although AXA Equitable takes all of its costs into account in establishing the level of fees and expenses in its products, any contribution-based and asset-based compensation paid by AXA Equitable to the Distributors will not result in any separate charge to you under your contract. All payments made will be in compliance with all applicable FINRA rules and other laws and regulations. More information 65 9. Incorporation of certain documents by reference - -------------------------------------------------------------------------------- AXA Equitable's Annual Report on Form 10-K for the period ended December 31, 2007 (the "Annual Report") is considered to be part of this Prospectus because it is incorporated by reference. AXA Equitable intends to send owners account statements and other such legally-required reports. AXA Equitable does not anticipate such reports will include periodic financial statements or information concerning AXA Equitable. AXA Equitable files reports and other information with the SEC, as required by law. You may read and copy this information at the SEC's public reference facilities at Room 1580, 100 F Street, NE, Washington, DC 20549, or by accessing the SEC's website at www.sec.gov. The public may obtain information on the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0330. Under the Securities Act of 1933, AXA Equitable has filed with the SEC a registration statement relating to the Market Value Adjustment (the "Registration Statement"). This prospectus has been filed as part of the Registration Statement and does not contain all of the information set forth in the Registration Statement. Please see the Registration Statement for additional information concerning the Market Value Adjustment. The Annual Report includes the audited consolidated financial statements of AXA Equitable at December 31, 2007 and 2006 and for each of the three years in the period ended December 31, 2007 (the "AXA Equitable Financial Statements"). The AXA Equitable Financial Statements are included in the Annual Report and incorporated by reference into this prospectus in reliance on the report of PricewaterhouseCoopers LLP, an independent registered public accounting firm. The AXA Equitable Financial Statements are also included in the Annual Report and incorporated by reference into this prospectus in reliance on the reports of KPMG LLP, an independent registered public accounting firm, on (i) the Consolidated Statements of Income, Changes in Partners' Capital and Comprehensive Income, and Cash Flows of AllianceBernstein L.P. and (ii) the Statements of Income, Changes in Partners' Capital and Comprehensive Income, and Cash Flows of AllianceBernstein Holding L.P. (together "AllianceBernstein", formerly "Alliance") for the year ended December 31, 2005. The reports are given on the authority of said firms as experts in auditing and accounting. KPMG LLP was AllianceBernstein's independent registered public accounting firm for the year ended December 31, 2005. On March 8, 2006, KPMG LLP was terminated, and PricewaterhouseCoopers LLP was appointed as AllianceBernstein's independent registered public accounting firm, as disclosed on AXA Equitable's Report on Form 8-K filed on March 13, 2006. AllianceBernstein Corporation, an indirect wholly owned subsidiary of AXA Equitable, is the general partner of both AllianceBernstein L.P. and AllianceBernstein Holding L.P. Any statement contained in a document that is or becomes part of this prospectus, will be considered changed or replaced for purposes of this prospectus if a statement contained in this prospectus changes or is replaced. Any statement that is considered to be a part of this prospectus because of its incorporation, will be considered changed or replaced for the purpose of this prospectus if a statement contained in any other subsequently filed document that is considered to be part of this prospectus changes or replaces that statement. After that, only the statement that is changed or replaced will be considered to be part of this prospectus. We file our Exchange Act documents and reports, including our annual Report on Form 10-K and quarterly reports on Form 10-Q, electronically according to EDGAR under CIK No. 0000727920. The SEC maintains a website that contains reports, proxy and information statements and other information regarding registrants that file electronically with the SEC. The address of the site is www.sec.gov. Upon written or oral request, we will provide, free of charge, to each person to whom this prospectus is delivered a copy of any or all of the documents considered to be part of this prospectus because they are incorporated herein. This does not include exhibits not specifically incorporated by reference into the text of such documents. Requests for documents should be directed to AXA Equitable Life Insurance Company, 1290 Avenue of the Americas, New York, New York 10104. Attention: Corporate Secretary (telephone: (212) 554-1234). 66 Incorporation of certain documents by reference Appendix I: QP IRA contracts - -------------------------------------------------------------------------------- The following provides information on the features and benefits of QP IRA contracts that are different than the features and benefits described in the prospectus for traditional IRA contracts under EQUI-VEST(SM). QP IRA contracts are not available to new purchasers and this information is applicable to existing contract holders only.
- ------------------------------------------------------------------------------------------------------------------------------------ Features and benefits Availability or variation - ------------------------------------------------------------------------------------------------------------------------------------ Source of contributions o Rollovers from a qualified plan. o Rollovers from a TSA. o The QP IRA contract is intended to be a conduit IRA to be used primarily for rollover contributions from a qualified plan or TSA, although we accept regular IRA contributions (limits are described earlier in this prospectus under "Traditional individual retirement annuities (traditional IRAs)"). - ------------------------------------------------------------------------------------------------------------------------------------ Minimum contributions $2,500 each rollover amount. - ------------------------------------------------------------------------------------------------------------------------------------ Limitations on contributions Rollover contributions after age 70-1/2 must be net of required minimum distributions. - ------------------------------------------------------------------------------------------------------------------------------------ Taxation of payments The QP IRA is used as a conduit IRA so that amounts are not commingled. If you are Federal income tax withholding eligible for ten year averaging and long term capital gains treatment of distributions from a qualified plan, you may be able to preserve such treatment even though an eligible rollover from a qualified plan is temporarily rolled into a conduit IRA, such as a QP IRA, before rolling it back into a qualified plan. See your tax adviser. - ------------------------------------------------------------------------------------------------------------------------------------
Appendix I: QP IRA contracts I-1 Appendix II: Condensed financial information - -------------------------------------------------------------------------------- The unit values and number of units outstanding shown below, as of December 31, 2007, are for contracts offered under Separate Account A with the same daily asset charge of 1.20%.
UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS BEING OFFERED FOR THE FIRST TIME AFTER DECEMBER 31, 2007. - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, ---------------------------------------------------- 1998 1999 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Aggressive Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ AXA Conservative Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ AXA Conservative-Plus Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ AXA Moderate Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 102.39 $ 118.86 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 11 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Moderate-Plus Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Common Stock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 102.87 $ 126.92 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 105 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Intermediate Government Securities - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 103.32 $ 101.97 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein International - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 93.00 $ 126.30 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 3 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Large Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 116.42 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 36 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Quality Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 103.62 $ 100.07 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 4 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Small Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 86.94 $ 109.62 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 2 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Ariel Appreciation II - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AXA Rosenberg Value Long/Short Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, ---------------------------------------------------- 2000 2001 2002 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Aggressive Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ AXA Conservative Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ AXA Conservative-Plus Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ AXA Moderate Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 115.59 $ 111.79 $ 96.39 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 101 287 488 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Moderate-Plus Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Common Stock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 107.54 $ 94.83 $ 62.46 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 702 944 905 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Intermediate Government Securities - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 109.71 $ 116.93 $ 125.45 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 16 112 193 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein International - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 95.90 $ 72.66 $ 64.53 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 36 45 272 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Large Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 93.88 $ 70.52 $ 47.97 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 350 438 383 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Quality Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 110.03 $ 117.42 $ 124.90 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 27 112 158 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Small Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 123.09 $ 105.51 $ 72.72 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 98 166 206 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 94.71 $ 80.81 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 71 173 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Ariel Appreciation II - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AXA Rosenberg Value Long/Short Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, ---------------------------------------------------- 2003 2004 2005 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Aggressive Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 109.19 $ 120.60 $ 128.76 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 12 32 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Conservative Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 102.19 $ 107.05 $ 108.35 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 2 31 42 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Conservative-Plus Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 104.18 $ 110.91 $ 113.14 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 3 21 44 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Moderate Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 113.46 $ 121.88 $ 126.19 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 503 565 647 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Moderate-Plus Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 108.00 $ 119.18 $ 125.60 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 2 50 122 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Common Stock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 92.29 $ 104.06 $ 107.24 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1,026 1,206 1,254 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Intermediate Government Securities - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 126.60 $ 127.50 $ 127.54 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 185 163 153 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein International - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 86.19 $ 100.63 $ 114.63 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 302 335 398 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Large Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 58.38 $ 62.52 $ 70.99 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 362 311 281 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Quality Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 127.77 $ 130.97 $ 131.99 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 142 135 136 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Small Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 101.26 $ 114.03 $ 125.63 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 238 247 253 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 102.78 $ 115.20 $ 120.01 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 235 340 396 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Ariel Appreciation II - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 103.66 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AXA Rosenberg Value Long/Short Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 99.49 $ 101.87 $ 108.21 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 3 14 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, ---------------------------------------------------- 2006 2007 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Aggressive Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 149.99 $ 157.32 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 83 150 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Conservative Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 113.87 $ 119.03 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 55 100 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Conservative-Plus Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 121.57 $ 126.70 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 80 145 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Moderate Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 137.55 $ 144.41 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 699 821 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Moderate-Plus Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 142.10 $ 149.35 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 290 487 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Common Stock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 117.28 $ 119.90 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1,179 1,018 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Intermediate Government Securities - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 129.94 $ 137.19 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 138 124 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein International - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 139.89 $ 154.42 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 454 488 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Large Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 69.76 $ 78.56 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 249 223 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Quality Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 135.39 $ 139.83 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 130 124 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Small Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 135.30 $ 155.98 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 245 215 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 143.93 $ 135.72 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 471 1,183 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Ariel Appreciation II - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 113.85 $ 111.16 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 12 11 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AXA Rosenberg Value Long/Short Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 108.46 $ 110.68 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 20 17 - ------------------------------------------------------------------------------------------------------------------------------------
II-1 Appendix II: Condensed financial information
UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS BEING OFFERED FOR THE FIRST TIME AFTER DECEMBER 31, 2007. - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, ---------------------------------------------------- 1998 1999 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/BlackRock Basic Value Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 97.91 $ 115.06 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 7 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/BlackRock International Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Boston Advisors Equity Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Calvert Socially Responsible - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 107.64 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Research - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 106.84 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Caywood-Scholl High Yield Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Davis New York Venture - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Equity 500 Index - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 103.69 $ 123.02 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 50 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Evergreen International Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Evergreen Omega - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 106.63 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/FI Mid Cap - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Small Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Templeton Founding Strategy - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/GAMCO Mergers and Acquisitions - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/GAMCO Small Company Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, ---------------------------------------------------- 2000 2001 2002 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/BlackRock Basic Value Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 127.11 $ 132.52 $ 109.12 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 41 119 183 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/BlackRock International Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 75.88 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 74 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Boston Advisors Equity Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Calvert Socially Responsible - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 103.26 $ 87.02 $ 63.23 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 3 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 54.11 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 5 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Research - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 111.80 $ 108.22 $ 80.55 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 9 31 130 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Caywood-Scholl High Yield Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Davis New York Venture - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Equity 500 Index - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 109.63 $ 95.13 $ 72.94 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 258 367 451 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Evergreen International Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Evergreen Omega - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 93.02 $ 76.26 $ 57.25 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 3 10 16 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/FI Mid Cap - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 100.02 $ 85.57 $ 68.93 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 9 106 195 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Small Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Templeton Founding Strategy - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/GAMCO Mergers and Acquisitions - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/GAMCO Small Company Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, ---------------------------------------------------- 2003 2004 2005 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/BlackRock Basic Value Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 141.44 $ 154.51 $ 158.36 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 219 284 294 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/BlackRock International Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 96.00 $ 115.37 $ 126.34 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 85 120 197 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Boston Advisors Equity Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 107.01 $ 112.23 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 6 50 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Calvert Socially Responsible - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 79.94 $ 81.81 $ 87.90 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 4 6 8 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 66.27 $ 69.10 $ 71.76 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 11 12 17 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Research - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 104.65 $ 114.66 $ 120.15 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 142 147 147 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Caywood-Scholl High Yield Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 104.07 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 11 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Davis New York Venture - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Equity 500 Index - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 91.12 $ 100.33 $ 103.49 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 536 628 666 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Evergreen International Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 97.53 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 468 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Evergreen Omega - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 78.17 $ 82.67 $ 84.92 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 26 53 44 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/FI Mid Cap - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 97.80 $ 112.12 $ 117.83 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 301 399 468 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Small Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Templeton Founding Strategy - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/GAMCO Mergers and Acquisitions - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 105.14 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 5 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/GAMCO Small Company Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 113.27 $ 116.74 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 7 62 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------------ 2006 2007 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/BlackRock Basic Value Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 187.75 $ 187.68 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 276 266 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/BlackRock International Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 156.89 $ 170.79 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 231 237 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Boston Advisors Equity Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 128.59 $ 131.73 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 67 72 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Calvert Socially Responsible - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 91.38 $ 101.24 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 9 12 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 76.14 $ 79.35 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 27 43 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Research - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 133.03 $ 133.60 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 143 370 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Caywood-Scholl High Yield Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 111.01 $ 112.76 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 27 45 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Davis New York Venture - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 97.03 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 8 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Equity 500 Index - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 117.68 $ 122.02 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 652 649 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Evergreen International Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 99.66 $ 107.62 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 14 37 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Evergreen Omega - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 88.82 $ 97.69 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 38 41 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/FI Mid Cap - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 129.84 $ 138.57 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 494 531 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 104.34 $ 105.20 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 22 149 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Small Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 108.27 $ 97.73 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 2 10 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Templeton Founding Strategy - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 95.25 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 69 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/GAMCO Mergers and Acquisitions - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 116.57 $ 119.10 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 12 21 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/GAMCO Small Company Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 137.07 $ 148.00 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 80 128 - ------------------------------------------------------------------------------------------------------------------------------------
Appendix II: Condensed financial information II-2
UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS BEING OFFERED FOR THE FIRST TIME AFTER DECEMBER 31, 2007. - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, ---------------------------------------------------- 1998 1999 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/International Core PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/International Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/JPMorgan Core Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/JPMorgan Value Opportunities - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 100.60 $ 98.04 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 3 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Large Cap Core PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 104.53 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 2 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Large Cap Growth PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 103.53 $ 177.65 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 36 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Legg Mason Value Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Long Term Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Growth and Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Large Cap Core - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Mid Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Marsico Focus - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Mid Cap Value PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 82.88 $ 83.36 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Money Market - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 101.68 $ 105.21 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 17 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Montag & Caldwell Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Mutual Shares - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Global - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, ---------------------------------------------------- 2000 2001 2002 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/International Core PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 67.97 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 12 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/International Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/JPMorgan Core Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 107.19 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 45 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/JPMorgan Value Opportunities - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 103.43 $ 95.23 $ 76.16 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 17 32 35 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Large Cap Core PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 102.57 $ 85.14 $ 66.44 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 17 21 26 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Large Cap Growth PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 142.46 $ 92.82 $ 60.23 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 288 316 265 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Legg Mason Value Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Long Term Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Growth and Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Large Cap Core - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Mid Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Marsico Focus - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 105.94 $ 92.57 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 47 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Mid Cap Value PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 86.60 $ 88.97 $ 74.98 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 14 126 261 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Money Market - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 110.19 $ 112.74 $ 112.77 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 57 125 107 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Montag & Caldwell Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Mutual Shares - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Global - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, ---------------------------------------------------- 2003 2004 2005 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/International Core PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 89.06 $ 99.97 $ 115.69 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 31 75 97 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/International Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 115.10 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 3 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/JPMorgan Core Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 109.48 $ 112.60 $ 113.71 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 72 95 130 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/JPMorgan Value Opportunities - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 95.42 $ 104.53 $ 107.33 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 35 38 39 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Large Cap Core PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 80.11 $ 88.18 $ 93.39 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 31 32 31 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Large Cap Growth PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 76.94 $ 85.62 $ 92.23 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 250 232 215 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Legg Mason Value Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 106.44 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 6 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Long Term Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 100.09 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 20 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Growth and Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 106.09 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 3 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Large Cap Core - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 105.72 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 2 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Mid Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 111.59 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 14 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Marsico Focus - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 119.93 $ 130.94 $ 143.22 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 133 180 241 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Mid Cap Value PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 98.72 $ 114.94 $ 126.42 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 291 333 377 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Money Market - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 112.05 $ 111.56 $ 113.12 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 83 75 68 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Montag & Caldwell Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 104.69 $ 109.03 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 6 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Mutual Shares - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Global - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, ---------------------------------------------------- 2006 2007 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/International Core PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 136.30 $ 155.16 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 121 116 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/International Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 142.89 $ 164.04 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 14 40 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/JPMorgan Core Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 116.91 $ 119.09 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 144 159 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/JPMorgan Value Opportunities - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 127.65 $ 124.59 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 39 38 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Large Cap Core PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 104.21 $ 106.95 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 28 26 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Large Cap Growth PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 98.21 $ 112.19 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 178 167 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Legg Mason Value Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 112.35 $ 104.42 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 41 49 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Long Term Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 100.69 $ 106.83 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 33 41 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Growth and Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 122.86 $ 125.59 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 10 13 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Large Cap Core - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 117.71 $ 128.70 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 5 10 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Mid Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 123.96 $ 123.17 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 23 38 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Marsico Focus - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 154.70 $ 174.30 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 295 326 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Mid Cap Value PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 140.50 $ 136.59 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 382 349 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Money Market - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 116.78 $ 120.81 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 103 133 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Montag & Caldwell Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 116.29 $ 138.79 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 5 11 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Mutual Shares - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 107.15 $ 107.60 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 8 73 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Global - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 110.99 $ 115.91 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 3 17 - ------------------------------------------------------------------------------------------------------------------------------------
II-3 Appendix II: Condensed financial information
UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS BEING OFFERED FOR THE FIRST TIME AFTER DECEMBER 31, 2007. - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, ---------------------------------------------------- 1998 1999 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Opportunity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Small Cap - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/PIMCO Real Return - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Short Duration Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Small Company Index - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/T.Rowe Price Growth Stock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Templeton Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/UBS Growth and Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Comstock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Emerging Markets Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 81.49 $ 157.61 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 5 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Mid Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Real Estate - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Aggressive Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 90.25 $ 105.70 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 17 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Core Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Health Care - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager High Yield - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 89.20 $ 84.97 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 5 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager International Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, ---------------------------------------------------- 2000 2001 2002 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Opportunity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Small Cap - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/PIMCO Real Return - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Short Duration Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Small Company Index - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 81.65 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 18 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/T.Rowe Price Growth Stock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Templeton Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/UBS Growth and Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Comstock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Emerging Markets Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 93.36 $ 87.48 $ 81.32 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 42 44 54 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Mid Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Real Estate - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Aggressive Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 90.50 $ 66.90 $ 47.01 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 71 100 95 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Core Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 106.88 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 83 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Health Care - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 79.09 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 17 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager High Yield - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 76.49 $ 76.09 $ 72.96 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 28 49 69 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager International Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 78.18 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 17 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, ---------------------------------------------------- 2003 2004 2005 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Opportunity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Small Cap - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/PIMCO Real Return - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 99.44 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 35 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Short Duration Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 99.89 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 3 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Small Company Index - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 117.68 $ 136.81 $ 140.93 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 59 104 133 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/T.Rowe Price Growth Stock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 111.26 $ 114.31 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 2 26 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Templeton Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/UBS Growth and Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 109.27 $ 117.68 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 21 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Comstock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 104.39 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 9 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Emerging Markets Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 125.29 $ 153.09 $ 200.85 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 69 95 144 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Mid Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 123.86 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 4 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Real Estate - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Aggressive Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 63.88 $ 70.75 $ 75.63 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 106 123 122 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Core Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 109.55 $ 112.44 $ 113.04 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 100 106 121 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Health Care - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 100.13 $ 110.93 $ 117.23 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 32 49 57 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager High Yield - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 88.34 $ 94.85 $ 96.58 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 130 179 218 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager International Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 103.76 $ 120.87 $ 137.87 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 31 62 71 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, ---------------------------------------------------- 2006 2007 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Opportunity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 95.27 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 3 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Small Cap - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 111.04 $ 107.76 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 3 13 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/PIMCO Real Return - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 98.64 $ 108.63 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 56 73 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Short Duration Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 102.60 $ 106.75 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 11 19 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Small Company Index - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 163.91 $ 158.96 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 167 193 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/T.Rowe Price Growth Stock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 108.40 $ 114.84 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 30 152 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Templeton Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 107.63 $ 108.55 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 11 54 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/UBS Growth and Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 132.73 $ 132.66 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 46 65 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Comstock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 119.54 $ 115.14 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 23 32 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Emerging Markets Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 271.98 $ 381.60 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 180 196 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Mid Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 133.70 $ 161.70 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 12 34 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Real Estate - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 82.93 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 244 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Aggressive Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 78.55 $ 86.44 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 112 98 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Core Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 115.90 $ 121.67 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 111 108 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Health Care - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 121.77 $ 131.09 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 60 63 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager High Yield - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 104.90 $ 106.89 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 218 211 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager International Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 170.70 $ 189.61 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 89 88 - ------------------------------------------------------------------------------------------------------------------------------------
Appendix II: Condensed financial information II-4
UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS BEING OFFERED FOR THE FIRST TIME AFTER DECEMBER 31, 2007. - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, ---------------------------------------------------- 1998 1999 2000 2001 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Core Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Mid Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Mid Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Small Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Small Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Technology - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Target 2015 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Target 2025 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Target 2035 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Target 2045 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, ---------------------------------------------------- 2002 2003 2004 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Core Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 76.54 $ 96.89 $ 104.99 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 21 31 33 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 67.96 $ 87.71 $ 92.44 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 32 53 65 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 79.20 $ 102.57 $ 115.96 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 32 39 51 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Mid Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 62.08 $ 86.02 $ 94.96 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 43 94 125 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Mid Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 73.80 $ 102.53 $ 116.68 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 36 66 91 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Small Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 114.62 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Small Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 112.91 $ 153.26 $ 177.32 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 27 54 102 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Technology - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 56.71 $ 88.33 $ 91.63 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 9 31 130 - ------------------------------------------------------------------------------------------------------------------------------------ Target 2015 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Target 2025 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Target 2035 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Target 2045 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, ---------------------------------------------------- 2005 2006 2007 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Core Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 110.72 $ 124.24 $ 128.89 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 31 29 30 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 98.17 $ 97.10 $ 106.72 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 65 66 67 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 122.70 $ 144.66 $ 148.12 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 62 87 93 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Mid Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 101.69 $ 110.13 $ 121.76 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 122 116 107 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Mid Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 123.75 $ 140.28 $ 138.72 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 89 85 82 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Small Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 121.73 $ 132.55 $ 135.77 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 26 50 72 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Small Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 183.41 $ 210.41 $ 187.41 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 120 127 112 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Technology - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 100.73 $ 106.79 $ 124.72 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 128 124 126 - ------------------------------------------------------------------------------------------------------------------------------------ Target 2015 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 108.37 $ 114.81 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 5 - ------------------------------------------------------------------------------------------------------------------------------------ Target 2025 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 109.32 $ 115.96 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 2 15 - ------------------------------------------------------------------------------------------------------------------------------------ Target 2035 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 110.21 $ 116.92 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 7 - ------------------------------------------------------------------------------------------------------------------------------------ Target 2045 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 110.99 $ 118.22 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 5 - ------------------------------------------------------------------------------------------------------------------------------------
II-5 Appendix II: Condensed financial information Appendix III: Market value adjustment example - -------------------------------------------------------------------------------- The example below shows how the market value adjustment would be determined and how it would be applied to a withdrawal, assuming that $100,000 was allocated on June 15, 2008 to a fixed maturity option with a maturity date of June 15, 2016 (eight years later) at a hypothetical rate to maturity of 7.00% (h), resulting in a maturity value of $171,882 on the maturity date. We further assume that a withdrawal of $50,000 is made four years later, on June 15, 2012.(a)
- ----------------------------------------------------------------------------------------- Hypothetical assumed rate to maturity(j) on June 15, 2012 ----------------------------- 5% 9% - ----------------------------------------------------------------------------------------- As of June 15, 2012 before withdrawal - ----------------------------------------------------------------------------------------- (1) market adjusted amount(b) $141,389 $121,737 - ----------------------------------------------------------------------------------------- (2) fixed maturity amount(c) $131,104 $131,104 - ----------------------------------------------------------------------------------------- (3) market value adjustment: (1) - (2) $ 10,285 $ (9,367) On June 15, 2012 after $50,000 withdrawal - ----------------------------------------------------------------------------------------- (4) portion of market value adjustment associated with the withdrawal: (3) x [$50,000/(1)] $ 3,637 $ (3,847) - ----------------------------------------------------------------------------------------- (5) portion of fixed maturity associated with the withdrawal: $50,000 - (4) $ 46,363 $ 53,847 - ----------------------------------------------------------------------------------------- (6) market adjusted amount (1) - $50,000 $ 91,389 $ 71,737 - ----------------------------------------------------------------------------------------- (7) fixed maturity amount: (2) - (5) $ 84,741 $ 77,257 - ----------------------------------------------------------------------------------------- (8) maturity value (d) $111,099 $101,287 - -----------------------------------------------------------------------------------------
You should note that in this example, if a withdrawal is made when rates have increased from 7.00% to 9.00% (right column), a portion of a negative market value adjustment is realized. On the other hand, if a withdrawal is made when rates have decreased from 7.00% to 5.00% (left column), a portion of a positive market value adjustment is realized. Notes: (a) Number of days from the withdrawal date to the maturity date = D = 1,461 (b) Market adjusted amount is based on the following calculation: Maturity value $171,882 ------------------ = ----------------------- where j is either 5% or 9% (1+j)(D/365) (1+j)(1,461/365) (c) Fixed maturity amount is based on the following calculation: Maturity value $171,882 ------------------ = ----------------------- (1+h)(D/365) (1+0.07)(1,461/365) (d) Maturity value is based on the following calculation: Fixed maturity amount x (1+h)(D/365) = ($84,741 or $77,257)x(1+0.07)(1,461/365)
Appendix III: Market value adjustment example III-1 Appendix IV: Death benefit example - -------------------------------------------------------------------------------- If you do not elect the ratcheted death benefit, the death benefit is equal to the account value or the standard death benefit (contributions, adjusted for withdrawals, and any withdrawal charges and taxes that may apply), whichever provides the highest amount. If you elect the ratcheted death benefit, the death benefit is equal to the account value or the ratcheted death benefit, whichever provides the highest amount. The following illustrates the death benefit calculation. Assuming $100,000 is allocated to the variable investment options, no additional contributions, no transfers and no withdrawals, the death benefit for an annuitant age 45 would be calculated as follows:
- ---------------------------------------------------------------------------------------------- End of contract year Account value(1) Contribution Ratcheted death benefit - ---------------------------------------------------------------------------------------------- 1 $105,000(2) $100,000 $100,000 - ---------------------------------------------------------------------------------------------- 2 $115,500(2) $100,000 - ---------------------------------------------------------------------------------------------- 3 $129,360(2) $129,360 (2) - ---------------------------------------------------------------------------------------------- 4 $103,488 $129,360(3) - ---------------------------------------------------------------------------------------------- 5 $113,837 $129,360 (3) - ---------------------------------------------------------------------------------------------- 6 $127,497 $129,360(3) - ---------------------------------------------------------------------------------------------- 7 $127,497 $129,360 (3) - ---------------------------------------------------------------------------------------------- 8 $133,872(2) $129,360 - ---------------------------------------------------------------------------------------------- 9 $147,259 $147,259 (4) - ----------------------------------------------------------------------------------------------
The account values for contract years 1 through 9 are based on hypothetical rates of return of 5.00%, 10.00%, 12.00%, (20.00)%, 10.00%, 12.00%, 0.00%, 5.00% and 10.00%. We are using these rates solely to illustrate how the benefit is determined. The return rates bear no relationship to past or future investment results. (1) If the ratcheted death benefit was not elected, the death benefit on each contract date anniversary would be equal to the account value, since it is higher than the contribution. (2) If the ratcheted death benefit was elected, at the end of contract years 1, 2, 3 and 8, the death benefit will be equal to the account value. Also in year 3, the ratcheted death benefit is increased to equal the account value. (3) At the end of contract years 4, 5, 6 and 7, the death benefit would be equal to the ratcheted death benefit since it is higher than the account value. Also, at the end of contract year six, no adjustment would be made to the ratcheted death benefit, since the ratcheted death benefit is higher than the account value. (4) At the end of contract year 9, the ratcheted death benefit would be increased to the account value, since the account value on the contract date anniversary is higher than the current ratcheted death benefit. IV-1 Appendix IV: Death benefit example Appendix V: State contract availability and/or variations of certain features and benefits - -------------------------------------------------------------------------------- STATES WHERE CERTAIN EQUI-VEST(SM) FEATURES AND/OR BENEFITS ARE NOT AVAILABLE OR HAVE CERTAIN VARIATIONS TO FEATURES AND/OR BENEFITS:
- ------------------------------------------------------------------------------------------------------------------------------------ State Features / benefits / charges Availability / variation - ------------------------------------------------------------------------------------------------------------------------------------ California See "Contract features and benefits"--"Your right If you reside in the state of California and you are to cancel within a certain number of days" age 60 or older at the time the contract is issued, you may return your variable annuity contract within 30 days from the date that you receive it and receive a refund as described below. If you allocate your entire initial contribution to the EQ/Money Market option (and/or the guaranteed interest option), the amount of your refund will be equal to your contribution less interest, unless you make a transfer, in which case the amount of your refund will be equal to your account value on the date we receive your request to cancel at our processing office. This amount could be less than your initial contribution. If you allocate any portion of your initial contribution to variable investment options other than the EQ/Money Market option (and/or the fixed maturity options), your refund will be equal to your account value on the date we receive your request to cancel at our processing office. - ------------------------------------------------------------------------------------------------------------------------------------ Connecticut Withdrawal charge During the first six contract years following a The following See "Charges under the contracts -- withdrawal contribution, a withdrawal charge will be deducted change applies to charge" in "Charges and expenses." from amounts you with- draw that exceed 15% of your contracts issued account value (the free withdrawal amount). The on or after withdrawal charge is equal to a percentage of each March 3, 2004. contribution. The percentage that applies depends on how long each contribution has been invested in the contract. We determine the withdrawal charge separately for each contribution according to the following schedule: ---------------------------------------------------- Contract year ---------------------------------------------------- 1 2 3 4 5 6 7 and later ---------------------------------------------------- Percentage of 6 6 6 6 6 5 0 contribution Certain other exemptions apply. - ------------------------------------------------------------------------------------------------------------------------------------ Illinois Withdrawal charge. During the first six contract years following a For IRA and NQ See "Fees and charges" under contribution, a withdrawal charge will be deducted Contract Series "EQUI-VEST(SM) at a glance -- Key features;" and from amounts you with- draw that exceed 15% of your 800 issued on or "Charges under the contracts -- with- drawal account value (the free withdrawal amount). The after September charge" in "Charges and expenses." withdrawal charge is equal to a percentage of each 24, 2007. contribution. The percentage that applies depends on how long each contribution has been invested in the contract. We determine the withdrawal charge separately for each contribution according to the following schedule. Contract year ---------------------------------------------------- 1 2 3 4 5 6 7 and later ---------------------------------------------------- Percentage of 6 6 6 6 6 5 0 contribution - ------------------------------------------------------------------------------------------------------------------------------------
Appendix V: State contract availability and/or variations of certain features and benefits V-1
- ------------------------------------------------------------------------------------------------------------------------------------ State Features / benefits / charges Availability / variation - ------------------------------------------------------------------------------------------------------------------------------------ Massachusetts See "Disability, terminal illness or confinement to The disability, terminal illness or confinement to The following nursing home" under "Withdrawal charge" in "Charges a nursing home withdrawal charge waiver is not change applies to and expenses" available. Traditional IRA, Roth IRA and NQ contracts issued on or after November 27, 2006. - ------------------------------------------------------------------------------------------------------------------------------------ New York See "Selecting an annuity payout option" in "Your In the second to last paragraph in this section, annuity payout option" under "Accessing your money" the second line in the paragraph "(1) the amount applied to purchase the annuity;" is deleted in its entirety and replaced with the following: (1) The amount applied to provide the annuity will be: (a) the account value for any life annuity form or (b) the cash value for any period certain annuity form except that, if the period certain is more than five years, the amount applied will be no less than 95% of the account value. - ------------------------------------------------------------------------------------------------------------------------------------ Puerto Rico See "Taxation of nonqualified annuities" under "Tax Income from NQ contracts we issue is U.S. source. information." A Puerto Rico resident is subject to U.S. taxation on such U.S. source income. Only Puerto Rico source income of Puerto Rico resi- dents is excludable from U.S. taxation. Income from NQ contracts is also subject to Puerto Rico tax. The calculation of the taxable portion of amounts distributed from a contract may differ in the two jurisdictions. Therefore, you might have to file both U.S. and Puerto Rico tax returns, showing different amounts of income from the contract for each tax return. Puerto Rico generally provides a credit against Puerto Rico tax for U.S. tax paid. Depending on your personal situation and the timing of the different tax liabilities, you may not be able to take full advantage of this credit. - ------------------------------------------------------------------------------------------------------------------------------------ Utah Withdrawal charge. During the first six contract years following a For non-qualified contribution, a withdrawal charge will be deducted annuities, IRA, See "Charges under the contracts--withdrawal charge" from amounts you with- draw that exceed 15% of Roth IRA, Inherited in "Charges and expenses." your account value (the free withdrawal amount). IRA and Roth The withdrawal charge is equal to a percentage of Inherited IRA con- each contribution. The percentage that applies tracts issued on or depends on how long each contribution has been after November invested in the contract. We determine the 27, 2006. withdrawal charge separately for each contribution Contract year ---------------------------------------------------- 1 2 3 4 5 6 7 and later ---------------------------------------------------- Percentage of 6 6 6 6 6 5 0 contribution - ------------------------------------------------------------------------------------------------------------------------------------
V-2 Appendix V: State contract availability and/or variations of certain features and benefits
- ------------------------------------------------------------------------------------------------------------------------------------ State Features / benefits / charges Availability / variation - ------------------------------------------------------------------------------------------------------------------------------------ Washington Fixed Maturity Option Not available The following changes apply to Ratcheted Death Benefit Not available contracts issued on or after See "Selecting an annuity payout option" in "Accessing In the third paragraph, "New York" is replaced August 13, 2001. your money" with "Washington" and paragraph (ii) is deleted and replaced with: (ii) if the annuitant was age 81-85 when the contract was issued, the contract anniversary that follows the annuitant's 95th birthday. See "Annual administrative charge" in "Charges and The second paragraph is deleted and replaced with: Expenses" "The charge is deducted pro rata from the variable investment options. If your account value is allocated 100% to the guar- anteed interest option, the charge will be waived. See "Withdrawal charge" in "Charges and expenses" The second sentence of the third paragraph is replaced with: "In the case of surrenders, we will pay you the greater of (i) the cash value or (ii) the free withdrawal amount plus 94% (95% in the fifth contract year if the annuitant was age 60 or over when the contract was issued) of the remaining account value. See "Disability, terminal illness, or confinement to The last paragraph and its first bullet are nursing home" in "Charges and expenses" replaced with the following: "For NQ, traditional IRA and Roth IRA contracts, the with- drawal charge also does not apply in the following circumstances: o After five contract years and the annuitant is at least age 59-1/2; or" - ------------------------------------------------------------------------------------------------------------------------------------
Appendix V: State contract availability and/or variations of certain features and benefits V-3 Statement of additional information - -------------------------------------------------------------------------------- TABLE OF CONTENTS Page Who is AXA Equitable? 2 Calculation of annuity payments 2 Custodian and independent registered public accounting firm 2 Distribution of the contracts 3 Calculating unit values 3 Financial statements 3 HOW TO OBTAIN AN EQUI-VEST(SM) STATEMENT OF ADDITIONAL INFORMATION FOR SEPARATE ACCOUNT A Call (800) 628-6673 or send this request form to: EQUI-VEST(SM) Processing Office AXA Equitable P.O. Box 4956 Syracuse, NY 13221-4956 - -------------------------------------------------------------------------------- Please send me an EQUI-VEST(SM) Statement of Additional Information dated May 1, 2008. (Combination variable and fixed deferred annuity) - -------------------------------------------------------------------------------- Name - -------------------------------------------------------------------------------- Address - -------------------------------------------------------------------------------- City State Zip X02029 EQUI-VEST(SM) Express(SM) A combination variable and fixed deferred annuity contract PROSPECTUS DATED MAY 1, 2008 Please read and keep this prospectus for future reference. It contains important information that you should know before purchasing or taking any other action under your contract. You should read the prospectuses for each Trust which contain important information about the portfolios. - -------------------------------------------------------------------------------- WHAT IS EQUI-VEST(SM) EXPRESS(SM)? EQUI-VEST(SM) Express(SM) is a deferred annuity contract issued by AXA Equitable Life Insurance Company. It provides for the accumulation of retirement savings and for income. The contract also offers death benefit protection and a number of payout options. You invest to accumulate value on a tax-deferred basis in one or more of our variable investment options or in our fixed maturity options ("investment options"). This contract may not currently be available in all states.
- -------------------------------------------------------------------------------- Variable investment options - -------------------------------------------------------------------------------- Fixed income - -------------------------------------------------------------------------------- o AXA Conservative Allocation(1) o EQ/JPMorgan Core Bond o AXA Conservative-Plus Allocation(1) o EQ/Long Term Bond o EQ/AllianceBernstein Intermediate o EQ/Money Market Government Securities o EQ/PIMCO Real Return o EQ/AllianceBernstein Quality Bond o EQ/Short Duration Bond o EQ/Caywood-Scholl High Yield Bond o Multimanager Core Bond o EQ/Evergreen International Bond o Multimanager High Yield o EQ/Franklin Income - -------------------------------------------------------------------------------- Domestic stocks - -------------------------------------------------------------------------------- o AXA Aggressive Allocation(1) o EQ/Lord Abbett Mid Cap Value o AXA Moderate-Plus Allocation(1) o EQ/Marsico Focus o EQ/AllianceBernstein Common Stock o EQ/Mid Cap Value PLUS(4) o EQ/AllianceBernstein Large Cap o EQ/Montag & Caldwell Growth Growth o EQ/Mutual Shares o EQ/AllianceBernstein Small Cap o EQ/Oppenheimer Main Street Growth Opportunity o EQ/AllianceBernstein Value o EQ/Oppenheimer Main Street o EQ/Ariel Appreciation II Small Cap o EQ/AXA Rosenberg Value Long/Short o EQ/Small Company Index Equity o EQ/T. Rowe Price Growth Stock o EQ/BlackRock Basic Value Equity o EQ/Templeton Growth o EQ/Boston Advisors Equity Income o EQ/UBS Growth and Income o EQ/Calvert Socially Responsible o EQ/Van Kampen Comstock o EQ/Capital Guardian Growth o EQ/Van Kampen Mid Cap Growth o EQ/Capital Guardian Research o EQ/Van Kampen Real Estate o EQ/Davis New York Venture o Multimanager Aggressive Equity o EQ/Equity 500 Index o Multimanager Health Care o EQ/Evergreen Omega o Multimanager Large Cap Core Equity o EQ/FI Mid Cap o Multimanager Large Cap Growth o EQ/Franklin Small Cap Value o Multimanager Large Cap Value o EQ/Franklin Templeton Founding o Multimanager Mid Cap Growth Strategy o Multimanager Mid Cap Value o EQ/GAMCO Mergers and Acquisitions o Multimanager Small Cap Growth o EQ/GAMCO Small Company Value o Multimanager Small Cap Value o EQ/JPMorgan Value Opportunities o Multimanager Technology o EQ/Large Cap Core PLUS(2) o Target 2015 Allocation o EQ/Large Cap Growth PLUS(3) o Target 2025 Allocation o EQ/Legg Mason Value Equity o Target 2035 Allocation o EQ/Lord Abbett Growth and Income o Target 2045 Allocation o EQ/Lord Abbett Large Cap Core - -------------------------------------------------------------------------------- International stocks - -------------------------------------------------------------------------------- o EQ/AllianceBernstein International o EQ/Oppenheimer Global o EQ/BlackRock International Value o EQ/Van Kampen Emerging Markets Equity o EQ/International Core PLUS(5) o Multimanager International Equity o EQ/International Growth - -------------------------------------------------------------------------------- Balanced/hybrid - -------------------------------------------------------------------------------- o AXA Moderate Allocation(1) - --------------------------------------------------------------------------------
(1) The AXA Allocation portfolios. (2) Formerly named "MarketPLUS Large Cap Core." (3) Formerly named "MarketPLUS Large Cap Growth." (4) Formerly named "MarketPLUS Mid Cap Value." (5) Formerly named "MarketPLUS International Core." You may allocate amounts to any of the variable investment options. Each variable investment option is a subaccount of Separate Account A. Each variable investment option, in turn, invests in a corresponding securities portfolio of either AXA Premier VIP Trust or the EQ Advisors Trust (the "Trusts"). Your investment results in a variable investment option will depend on the investment performance of the related portfolio. You may also allocate amounts to the fixed maturity options, which are discussed later in this prospectus. TYPES OF CONTRACTS. For existing and new contract owners, we offer the contracts for use as: o A nonqualified annuity ("NQ") for after-tax contributions only o An individual retirement annuity ("IRA"), any of traditional IRA, Roth IRA or Inherited IRA beneficiary continuation contracts ("Inherited IRA"). A minimum contribution of $50 ($5,000 for Inherited IRA) is required to purchase a contract. For existing contract owners only: o QP IRA (Please see Appendix I -- these contracts are no longer available for new purchasers.) Unless otherwise indicated, information for QP IRA is the same as traditional IRA. Registration statements relating to this offering have been filed with the Securities and Exchange Commission ("SEC"). The statement of additional information ("SAI") dated May 1, 2008, is a part of one of the registration statements. The SAI is available free of charge. You may request one by writing to our processing office at P.O. Box 4956, Syracuse, NY 13221-4956 or calling (800) 628-6673. The SAI has been incorporated by reference into this prospectus. This prospectus and the SAI can also be obtained from the SEC's website at www.sec.gov. The table of contents for the SAI appears at the back of this prospectus. The SEC has not approved or disapproved these securities or determined if this prospectus is accurate or complete. Any representation to the contrary is a criminal offense. The contracts are not insured by the FDIC or any other agency. They are not deposits or other obligations of any bank and are not bank guaranteed. They are subject to investment risks and possible loss of principal. X02040 Series 700 (R-4/15) Although this prospectus is primarily designed for potential purchasers of the contract, you may have previously purchased a contract and are receiving this prospectus as a current contract owner. If you are a current contract owner, you should note that the options, features and charges of the contract may have varied over time and may vary depending on your state. For more information about the particular options, features and charges applicable to you, please contact your financial professional and/or refer to your contract and/or see Appendix IV. Contents of this prospectus - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- EQUI-VEST(SM) EXPRESS(SM) - -------------------------------------------------------------------------------- Index of key words and phrases 5 Who is AXA Equitable? 6 How to reach us 7 EQUI-VEST(SM) Express(SM) at a glance -- key features 9 - -------------------------------------------------------------------------------- FEE TABLE 11 - -------------------------------------------------------------------------------- Examples 14 Condensed financial information 17 - -------------------------------------------------------------------------------- 1. CONTRACT FEATURES AND BENEFITS 18 - -------------------------------------------------------------------------------- How you can purchase and contribute to your contract 18 Owner and annuitant requirements 20 How you can make your contributions 20 What are your investment options under the contract? 20 Portfolios of the Trusts 21 Allocating your contributions 26 Your right to cancel within a certain number of days 27 Inherited IRA beneficiary continuation contract 27 - -------------------------------------------------------------------------------- 2. DETERMINING YOUR CONTRACT'S VALUE 29 - -------------------------------------------------------------------------------- Your account value and cash value 29 Your contract's value in the variable investment options 29 Your contract's value in the fixed maturity options 29 - -------------------------------------------------------------------------------- 3. TRANSFERRING YOUR MONEY AMONG INVESTMENT OPTIONS 30 - -------------------------------------------------------------------------------- Transferring your account value 30 Disruptive transfer activity 30 Automatic transfer options 31 Rebalancing your account value 31 - ---------------------- "We," "our" and "us" refer to AXA Equitable. When we address the reader of this prospectus with words such as "you" and "your," we mean the person who has the right or responsibility that the prospectus is discussing at that point. This is usually the contract owner. When we use the word "contract" it also includes certificates that are issued under group contracts in some states. Contents of this prospectus 3 - -------------------------------------------------------------------------------- 4. ACCESSING YOUR MONEY 32 - -------------------------------------------------------------------------------- Withdrawing your account value 32 How withdrawals are taken from your account value 32 Surrender of your contract to receive its cash value 33 Termination 33 When to expect payments 33 Your annuity payout options 33 - -------------------------------------------------------------------------------- 5. CHARGES AND EXPENSES 36 - -------------------------------------------------------------------------------- Charges that AXA Equitable deducts 36 Charges under the contracts 36 Charges that the Trusts deduct 37 Group or sponsored arrangements 37 Other distribution arrangements 38 - -------------------------------------------------------------------------------- 6. PAYMENT OF DEATH BENEFIT 39 - -------------------------------------------------------------------------------- Your beneficiary and payment of benefit 39 How death benefit payment is made 40 Beneficiary continuation option 40 - -------------------------------------------------------------------------------- 7. TAX INFORMATION 42 - -------------------------------------------------------------------------------- Overview 42 Buying a contract to fund a retirement arrangement 42 Transfers among investment options 42 Taxation of nonqualified annuities 42 Individual retirement arrangements ("IRAs") 44 Roth individual retirement annuities ("Roth IRAs") 50 Federal and state income tax withholding and information reporting 53 Impact of taxes to AXA Equitable 54 - -------------------------------------------------------------------------------- 8. MORE INFORMATION 55 - -------------------------------------------------------------------------------- About our Separate Account A 55 About the Trusts 55 About our fixed maturity options 55 About the general account 56 About other methods of payment 57 Dates and prices at which contract events occur 57 About your voting rights 57 About legal proceedings 58 Financial statements 58 Transfers of ownership, collateral assignments, loans, and borrowing 58 Distribution of the contracts 58 - -------------------------------------------------------------------------------- 9. INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE 60 - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- APPENDICES - -------------------------------------------------------------------------------- I -- QP IRA contracts I-1 II -- Condensed financial information II-1 III -- Market value adjustment example III-1 IV -- State contract availability and/or variations of certain features and benefits IV-1 - -------------------------------------------------------------------------------- STATEMENT OF ADDITIONAL INFORMATION TABLE OF CONTENTS - -------------------------------------------------------------------------------- 4 Contents of this prospectus Index of key words and phrases - -------------------------------------------------------------------------------- This index should help you locate more information on the terms used in this prospectus.
Page - -------------------------------------------------------------------------------- account value 29 annuitant 18 annuity payout options 33 beneficiary 39 beneficiary continuation option 40 business day 57 cash value 29 conduit IRA 48 contract date 10 contract date anniversary 10 contract year 10 contributions 18 contributions to Roth IRAs 50 regular contributions 50 rollovers and direct transfers 50 conversion contributions 51 contributions to traditional IRAs 44 regular contributions 45 rollovers and transfers 46 disruptive transfer activity 30 EQAccess 7 fixed maturity amount 26 fixed maturity options 26 IRA cover, 42 IRS 42 Inherited IRA cover, 27 investment options cover, 20 market adjusted amount 26 market timing 30 market value adjustment 26 maturity value 26 NQ cover, 39 partial withdrawals 32 portfolio cover principal assurance allocation 26 processing office 7 QP IRA Appendix I rate to maturity 26 regular contribution 45 Required Beginning Date 48 Roth IRA cover, 49 SAI cover SEC cover TOPS 7 traditional IRA cover, 44 Trusts cover, 55 unit 29 unit investment trust 55 variable investment options cover, 20
To make this prospectus easier to read, we sometimes use different words than in the contract or supplemental materials. This is illustrated below. Although we do use different words, they have the same meaning in this prospectus as in the contract or supplemental materials. Your financial professional can provide further explanation about your contract.
- -------------------------------------------------------------------------------- Prospectus Contract or Supplemental Materials - -------------------------------------------------------------------------------- fixed maturity options Guarantee Periods or Fixed Maturity Accounts variable investment options Investment Funds or Investment Divisions account value Annuity Account Value rate to maturity Guaranteed Rates unit Accumulation unit unit value Accumulation unit value - --------------------------------------------------------------------------------
Index of key words and phrases 5 Who is AXA Equitable? - -------------------------------------------------------------------------------- We are AXA Equitable Life Insurance Company ("AXA Equitable") (until 2004, The Equitable Life Assurance Society of the United States), a New York stock life insurance corporation. We have been doing business since 1859. AXA Equitable is an indirect, wholly-owned subsidiary of AXA Financial, Inc., a holding company, which is itself an indirect, wholly-owned subsidiary of AXA SA ("AXA"). AXA is a French holding company for an international group of insurance and related financial services companies. As the ultimate sole shareholder of AXA Equitable, and under its other arrangements with AXA Equitable and AXA Equitable's parent, AXA exercises significant influence over the operations and capital structure of AXA Equitable and its parent. AXA holds its interest in AXA Equitable through a number of other intermediate holding companies, including Oudinot Participations, AXA America Holdings, Inc. and AXA Equitable Financial Services, LLC. AXA Equitable is obligated to pay all amounts that are promised to be paid under the contracts. No company other than AXA Equitable, however, has any legal responsibility to pay amounts that AXA Equitable owes under the contracts. AXA Financial, Inc. and its consolidated subsidiaries managed approximately $888.6 billion in assets as of December 31, 2007. For more than 100 years AXA Equitable has been among the largest insurance companies in the United States. We are licensed to sell life insurance and annuities in all fifty states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. Our home office is located at 1290 Avenue of the Americas, New York, NY 10104. 6 Who is AXA Equitable? HOW TO REACH US Please communicate with us at the mailing addresses listed below for the purposes described. Certain methods of contacting us, such as by telephone or electronically, may be unavailable or delayed. For example, our facsimile service may not be available at all times and/or we may be unavailable due to emergency closing. In addition, the level and type of service available may be restricted based on criteria established by us. In order to avoid delays in processing, please send your correspondence and check to the appropriate location, as follows: For correspondence with checks: - ------------------------------------------------------------- FOR NQ AND IRA OWNERS WHO SEND CONTRIBUTIONS INDIVIDUALLY BY REGULAR MAIL: - ------------------------------------------------------------- AXA Equitable EQUI-VEST(SM) Express(SM) Individual Collections P.O. Box 13459 Newark, NJ 07188-0459 - ------------------------------------------------------------- FOR NQ AND IRA OWNERS WHO SEND CONTRIBUTIONS INDIVIDUALLY BY EXPRESS DELIVERY: - ------------------------------------------------------------- AXA Equitable JPMorganChase EQUI-VEST(SM) Lockbox #13459 4 Chase Metrotech Center (7th Floor) Brooklyn, NY 11245-0001 Telephone number to be listed on express mail package Attn: Extraction Supervisor, (718) 242-2992 - ------------------------------------------------------------- FOR NQ AND IRA CONTRIBUTIONS REMITTED BY EMPLOYERS AND SENT BY REGULAR MAIL: - ------------------------------------------------------------- AXA Equitable EQUI-VEST(SM) Express(SM) Unit Annuity Collections P.O. Box 13463 Newark, NJ 07188-0463 - ------------------------------------------------------------- FOR NQ AND IRA CONTRIBUTIONS REMITTED BY EMPLOYERS AND SENT BY EXPRESS DELIVERY: - ------------------------------------------------------------- AXA Equitable JPMorganChase EQUI-VEST(SM) Lockbox #13463 4 Chase Metrotech Center (7th Floor) Brooklyn, NY 11245-0001 Telephone number to be listed on express mail package Attn: Extraction Supervisor, (718) 242-2992 For correspondence without checks: - ------------------------------------------------------------- FOR ALL OTHER COMMUNICATIONS (E.G., REQUESTS FOR TRANSFERS, WITHDRAWALS, OR REQUIRED NOTICES) SENT BY REGULAR MAIL: - ------------------------------------------------------------- AXA Equitable EQUI-VEST(SM) Processing Office P.O. Box 4956 Syracuse, NY 13221-4956 - ------------------------------------------------------------- FOR ALL OTHER COMMUNICATIONS (E.G., REQUESTS FOR TRANSFERS, WITHDRAWALS, OR REQUIRED NOTICES) SENT BY EXPRESS DELIVERY: - ------------------------------------------------------------- AXA Equitable EQUI-VEST(SM) Processing Office 100 Madison Street, Suite 1000 Syracuse, NY 13202 ---------------------------------- Your correspondence will be picked up at the mailing address noted above and delivered to the appropriate processing office. Your correspondence, however, is not considered received by us until it is received at one of our processing offices. Our processing office for correspondence with checks is 4 Chase Metrotech Center, 7th Floor, Brooklyn, NY. Our processing office for all other communications is 100 Madison Street, Suite 100, Syracuse, NY. - ------------------------------------------------------------- REPORTS WE PROVIDE: - ------------------------------------------------------------- o written confirmation of financial transactions; o quarterly statements of your contract values as of the close of each calendar quarter; and o annual statement of your contract values as of your contract date anniversary. - ------------------------------------------------------------- TELEPHONE OPERATED PROGRAM SUPPORT ("TOPS") AND EQACCESS SYSTEMS: - ------------------------------------------------------------- TOPS is designed to provide you with up-to-date information via touch-tone telephone. EQAccess is designed to provide this information through the Internet. You can obtain information on: o your current account value; o your current allocation percentages; o the number of units you have in the variable investment options; o rates to maturity for fixed maturity options; o the daily unit values for the variable investment options; and o performance information regarding the variable investment options (not available through TOPS). You can also: o change your allocation percentages and/or transfer among the variable investment options (not available for transfers to fixed maturity options); and o change your TOPS personal identification number ("PIN") (through TOPS only) and your EQAccess password (through EQAccess only). Under EQAccess only you can: o make a contribution to your IRA or NQ annuity contract; o elect to receive certain contract statements electronically; o change your address; and o access "Frequently Asked Questions" and certain service forms. TOPS and EQAccess are normally available seven days a week, 24 hours a day. You may use TOPS by calling toll-free (800) 755-7777. Who is AXA Equitable? 7 You may use EQAccess by visiting our website at www.axaonline.com and clicking on EQAccess. Of course, for reasons beyond our control, these services may sometimes be unavailable. We have established procedures to reasonably confirm that the instructions communicated by telephone or the Internet are genuine. For example, we will require certain personal identification information before we will act on telephone or Internet instructions and we will provide written confirmation of your transfers. If we do not employ reasonable procedures to confirm the genuineness of telephone or Internet instructions, we may be liable for any losses arising out of any act or omission that constitutes negligence, lack of good faith, or willful misconduct. In light of our procedures, we will not be liable for following telephone or Internet instructions we reasonably believe to be genuine. We reserve the right to limit access to these services if we determine that you engaged in a disruptive transfer activity such as "market timing" (see "Disruptive transfer activity" in "Transferring your money among investment options" later in this prospectus). - ------------------------------------------------------------- CUSTOMER SERVICE REPRESENTATIVE: - ------------------------------------------------------------- You may also use our toll-free number (800) 628-6673 to speak with one of our customer service representatives. Our customer service representatives are available on each business day Monday through Thursday from 8:00 a.m. to 7:00 p.m., and on Friday until 5:00 p.m., Eastern Time. Hearing or speech-impaired clients may call the AT&T National Relay Number at (800) 855-2880 for information about your account. If you have a Telecommunications Device for the Deaf (TDD), you may relay messages or questions to our Customer Service Department at (800) 628-6673, Monday through Thursday from 8:00 a.m. to 7:00 p.m., and on Friday until 5:00 p.m. Eastern Time. AT&T personnel will communicate our reply back to you, via the TDD. - ------------------------------------------------------------- TOLL-FREE TELEPHONE SERVICE: - ------------------------------------------------------------- You may reach us toll-free by calling (800) 841-0801 for a recording of daily unit values for the variable investment options. WE REQUIRE THAT THE FOLLOWING TYPES OF COMMUNICATIONS BE ON SPECIFIC FORMS WE PROVIDE FOR THAT PURPOSE: (1) conversion of your traditional IRA contract to a Roth IRA contract; (2) cancellation of your Roth IRA contract and return to a traditional IRA contract; (3) election of the automatic investment program; (4) election of general dollar-cost averaging; (5) election of the rebalancing program; (6) election of the automatic deposit service; (7) election of the required minimum distribution automatic withdrawal option; (8) election of the beneficiary continuation option; (9) election of the principal assurance allocation; (10) request for a transfer/rollover of assets or 1035 exchange to another carrier; (11) purchase by, or change of ownership to, a non-natural owner; and (12) contract surrender and withdrawal requests. WE ALSO HAVE SPECIFIC FORMS THAT WE RECOMMEND YOU USE FOR THE FOLLOWING TYPES OF REQUESTS: (1) address changes; (2) beneficiary changes; (3) transfers among investment options; and (4) change of ownership. TO CHANGE OR CANCEL ANY OF THE FOLLOWING WE REQUIRE WRITTEN NOTIFICATION GENERALLY AT LEAST SEVEN CALENDAR DAYS BEFORE THE NEXT SCHEDULED TRANSACTION: (1) automatic investment program; (2) general dollar-cost averaging; (3) rebalancing program; (4) systematic withdrawals; and (5) the date annuity payments are to begin. You must sign and date all these requests. Any written request that is not on one of our forms must include your name and your contract number along with adequate details about the notice you wish to give or the action you wish us to take. SIGNATURES: The proper person to sign forms, notices and requests would normally be the owner. If there are joint owners, all must sign. 8 Who is AXA Equitable? EQUI-VEST(SM) Express(SM) at a glance -- key features
- ------------------------------------------------------------------------------------------------------------------------------------ Professional investment EQUI-VEST(SM) Express(SM) variable investment options invest in different portfolios sub-advised by management professional investment advisers. - ------------------------------------------------------------------------------------------------------------------------------------ Fixed maturity options o 10 fixed maturity options with maturities ranging from approximately 1 to 10 years. o Each fixed maturity option offers a guarantee of principal and interest rate if you hold it to maturity. ---------------------------------------------------------------------------------------------------------- If you make any withdrawals (including transfers, surrender or termination of your contract or when we make deductions for charges) from a fixed maturity option before it matures, we will make a market value adjustment, which will increase or decrease any fixed maturity amount you have in that fixed maturity option. - ------------------------------------------------------------------------------------------------------------------------------------ Tax advantages o On earnings inside the No tax until you make withdrawals from your contract or receive annuity contract payments. o On transfers inside the No tax on transfers among investment options. contract - ------------------------------------------------------------------------------------------------------------------------------------ If you are purchasing an annuity contract as an Individual Retirement Annuity (IRA), you should be aware that such annuities do not provide tax deferral benefits beyond those already provided by the Internal Revenue Code for individual retirement arrangements. Before purchasing one of these contracts, you should consider whether its features and benefits beyond tax deferral meet your needs and goals. You may also want to consider the relative features, benefits and costs of these contracts with any other investment that you may use in connection with your retirement plan or arrangement. (For more information, see "Tax information" later in this prospectus.) - ------------------------------------------------------------------------------------------------------------------------------------ Contribution amounts o NQ, traditional IRA and Roth IRA: Minimum: $50 initial and additional ($20 under our automatic investment program) o Inherited IRA $5,000 (initial) (minimum) $1,000 (additional) (minimum) o Maximum contribution limitations may apply. In general, contributions are limited to $1.5 million under all EQUI-VEST(SM) series and EQUI-VEST(SM) At Retirement(SM) contracts with the same owner or annuitant ($500,000 for owners or annuitants who are age 81 and older at contract issue) - ------------------------------------------------------------------------------------------------------------------------------------ Access to your money o Partial withdrawals o Several withdrawal options on a periodic basis o Contract surrender You may incur a withdrawal charge for certain withdrawals or if you surrender your contract. You may also incur income tax and a penalty tax. - ------------------------------------------------------------------------------------------------------------------------------------ Payout options o Fixed annuity payout options o Variable Immediate Annuity payout options (as described in a separate prospectus for that option) - ------------------------------------------------------------------------------------------------------------------------------------ Additional features o General dollar-cost averaging o Automatic investment program o Account value rebalancing (quarterly, semiannually and annually) o Principal assurance allocation o No charge on transfers among investment options o Minimum death benefit - ------------------------------------------------------------------------------------------------------------------------------------
EQUI-VEST(SM) Express(SM) at a glance -- key features 9
- ------------------------------------------------------------------------------------------------------------------------------------ Fees and charges o Daily charges on amounts invested in the variable investment options for mortality and expense risks and other expenses at an annual rate of 0.95% (2.00% maximum). o $30 ($65 maximum), or, during the first two contract years, 2% of your account value plus any amounts previously withdrawn during the contract year, if less; thereafter, $30 per year. If your account value is $25,000 or more for NQ contracts (or $20,000 or more for IRA contracts), we will not deduct the charge. For individuals who own multiple contracts with combined account values of over $100,000, this charge may be waived. See "Annual administrative charge" in "Charges and expenses" later in this prospectus. o Charge for third-party transfer (such as in the case of a trustee-to-trustee transfer for an IRA contract) or exchange (if your contract is exchanged for a contract issued by another insurance company): $25 currently ($65 maximum) per occurrence. o No sales charge deducted at the time you make contributions. o During the first seven contract years following each contribution, a charge will be deducted from amounts that you withdraw that exceed 10% of your account value as of the date of the withdrawal, minus prior withdrawals in that contract year. The charge begins at 7% in the first contract year following each contribution. It declines each year to 1% in the seventh contract year. There is no withdrawal charge in the eighth and later contract years following a contribution. Under certain circumstances, the withdrawal charge will not apply. They are discussed in "Charges and expenses" later in this prospectus. ---------------------------------------------------------------------------------------------------------- The "contract date" is the effective date of a contract. This usually is the business day we receive the properly completed and signed application, along with any other required documents, and your initial contribution. Your contract date will be shown in your contract. The 12-month period beginning on your contract date and each 12-month period after that date is a "contract year." The end of each 12-month period is your "contract date anniversary." For example, if your contract date is May 1, your contract date anniversary is April 30. ---------------------------------------------------------------------------------------------------------- o We deduct a charge designed to approximate certain taxes that may be imposed on us, such as premium taxes in your state. The charge is generally deducted from the amount applied to an annuity payout option. o We deduct a $350 annuity administrative fee from amounts applied to purchase a Variable Immediate Annuity payout option. This option is described in a separate prospectus that is available from your financial professional. o Annual expenses of the Trusts' portfolios are calculated as a percentage of the average daily net assets invested in each portfolio. Please see "Fee table" later in this prospectus for details. - ------------------------------------------------------------------------------------------------------------------------------------ Annuitant issue ages 0-83 (0-70 for Inherited IRA) - ------------------------------------------------------------------------------------------------------------------------------------
THE ABOVE IS NOT A COMPLETE DESCRIPTION OF ALL MATERIAL PROVISIONS OF THE CONTRACT. IN SOME CASES RESTRICTIONS OR EXCEPTIONS APPLY. RIGHTS ARE RESERVED TO CHANGE OR WAIVE CERTAIN CHARGES WITHIN SPECIFIED LIMITS. ALSO, ALL FEATURES OF THE CONTRACT, INCLUDING ALL VARIABLE INVESTMENT OPTIONS, ARE NOT NECESSARILY AVAILABLE IN YOUR STATE OR AT CERTAIN AGES. For more detailed information we urge you to read the contents of this prospectus, as well as your contract. This prospectus provides a description of all material provisions of the contract. Please feel free to speak with your financial professional or call us, if you have any questions. If for any reason you are not satisfied with your contract, you may return it to us for a refund within a certain number of days. Please see "Your right to cancel within a certain number of days" later in this prospectus for additional information. OTHER CONTRACTS We offer a variety of fixed and variable annuity contracts. They may offer features, including investment options, credits, fees and/or charges that are different from those in the contracts offered by this prospectus. Not every contract is offered through the same Selling broker-dealer. Some Selling broker-dealers may not offer and/or limit the offering of certain features or options, as well as limit the availability of the contracts, based on issue age or other criteria established by the Selling broker-dealer. Upon request, your financial professional can show you information regarding other AXA Equitable annuity contracts that he or she distributes. You can also contact us to find out more about the availability of any of the AXA Equitable annuity contracts. You should work with your financial professional to decide whether an optional benefit is appropriate for you based on a thorough analysis of your particular insurance needs, financial objectives, investment goals, time horizons and risk tolerance. Some Selling broker-dealers may limit their clients from purchasing some optional benefits based upon the client's age. 10 EQUI-VEST(SM) Express(SM) at a glance -- key features Fee table - -------------------------------------------------------------------------------- The following tables describe the fees and expenses that you will pay when buying, owning, and surrendering the contract. Each of the charges and expenses is more fully described in "Charges and expenses" later in this prospectus. The first table describes fees and expenses that you will pay at the time that you surrender the contract, make certain withdrawals, purchase a Variable Immediate Annuity payout option or make certain transfers and exchanges. Charges designed to approximate certain taxes that may be imposed on us, such as premium taxes in your state, may also apply. Charges for certain features shown in the fee table are mutually exclusive.
- ------------------------------------------------------------------------------------------------------------------------------------ Charges we deduct from your account value at the time you request certain transactions - ------------------------------------------------------------------------------------------------------------------------------------ Maximum withdrawal charge as a percentage of contributions withdrawn (deducted if you surrender your contract or make certain withdrawals).(1) 7.00% Charge if you elect a Variable Immediate Annuity payout option (which is described in a separate prospectus for that option) $350 Charge for third-party transfer or exchange $65 maximum for each occurrence; currently $25 for each occurrence. The next table describes the fees and expenses that you will pay periodically during the time that you own the contract, not including underlying Trust portfolio fees and expenses. - ------------------------------------------------------------------------------------------------------------------------------------ Charges we deduct from your account value on each contract date anniversary - ------------------------------------------------------------------------------------------------------------------------------------ Maximum annual administrative charge: If your account value on the last day of your contract year is less than $25,000 for NQ contracts (or less than $20,000 for IRA contracts) $65($30 current)(2) If your account value on the last day of your contract year is $25,000 or more for NQ contracts (or $20,000 or more for IRA contracts) $0 - ------------------------------------------------------------------------------------------------------------------------------------ Charges we deduct from your variable investment options expressed as an annual percentage of daily net assets Separate account annual expenses: - ------------------------------------------------------------------------------------------------------------------------------------ Maximum Current ------- ------- Mortality and expense risks(3) 1.65% 0.70% Other expenses 0.35% 0.25% ---- ---- Total Separate Account A annual expenses 2.00% 0.95% - ------------------------------------------------------------------------------------------------------------------------------------ You also bear your proportionate share of all fees and expenses paid by a "portfolio" that corresponds to any variable investment option you are using. This table shows the lowest and highest total operating expenses charged by any of the portfolios that you will pay periodically during the time that you own the contract. These fees and expenses are reflected in the portfolio's net asset value each day. Therefore, they reduce the investment return of the portfolio and the related variable investment option. Actual fees and expenses are likely to fluctuate from year to year. More detail concerning each portfolio's fees and expenses is contained in the Trust prospectus for the portfolio. - ------------------------------------------------------------------------------------------------------------------------------------ Portfolio operating expenses expressed as an annual percentage of daily net assets - ------------------------------------------------------------------------------------------------------------------------------------ Total Annual Portfolio Operating Expenses for 2007 (expenses that are deducted Lowest Highest from portfolio assets including management fees, 12b-1 fees, service fees, and/or ------ ------- other expenses)(4) 0.63% 3.71%
Fee table 11 This table shows the fees and expenses for 2007 as an annual percentage of each portfolio's daily average net assets.
- --------------------------------------------------------------------------------------------- Manage- ment 12b-1 Other Portfolio Name Fees(5) Fees(6) Expenses(7) - --------------------------------------------------------------------------------------------- AXA Premier VIP Trust: - --------------------------------------------------------------------------------------------- AXA Aggressive Allocation 0.10% 0.25% 0.17% AXA Conservative Allocation 0.10% 0.25% 0.21% AXA Conservative-Plus Allocation 0.10% 0.25% 0.19% AXA Moderate Allocation 0.10% 0.25% 0.17% AXA Moderate-Plus Allocation 0.10% 0.25% 0.17% Multimanager Aggressive Equity 0.60% 0.25% 0.19% Multimanager Core Bond 0.58% 0.25% 0.18% Multimanager Health Care 1.20% 0.25% 0.23% Multimanager High Yield 0.57% 0.25% 0.19% Multimanager International Equity 1.00% 0.25% 0.23% Multimanager Large Cap Core Equity 0.89% 0.25% 0.21% Multimanager Large Cap Growth 0.90% 0.25% 0.22% Multimanager Large Cap Value 0.87% 0.25% 0.20% Multimanager Mid Cap Growth 1.10% 0.25% 0.20% Multimanager Mid Cap Value 1.09% 0.25% 0.20% Multimanager Small Cap Growth 1.05% 0.25% 0.27% Multimanager Small Cap Value 1.03% 0.25% 0.18% Multimanager Technology 1.20% 0.25% 0.22% Target 2015 Allocation 0.10% 0.25% 1.71% Target 2025 Allocation 0.10% 0.25% 1.41% Target 2035 Allocation 0.10% 0.25% 2.38% Target 2045 Allocation 0.10% 0.25% 2.81% - --------------------------------------------------------------------------------------------- EQ Advisors Trust: - --------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock 0.47% 0.25% 0.13% EQ/AllianceBernstein Intermediate Government Securities 0.50% 0.25% 0.13% EQ/AllianceBernstein International 0.71% 0.25% 0.18% EQ/AllianceBernstein Large Cap Growth 0.90% 0.25% 0.13% EQ/AllianceBernstein Quality Bond 0.50% 0.25% 0.14% EQ/AllianceBernstein Small Cap Growth 0.74% 0.25% 0.13% EQ/AllianceBernstein Value 0.59% 0.25% 0.12% EQ/Ariel Appreciation II 0.75% 0.25% 0.26% EQ/AXA Rosenberg Value Long/Short Equity 1.40% 0.25% 1.91% EQ/BlackRock Basic Value Equity 0.55% 0.25% 0.13% EQ/BlackRock International Value 0.81% 0.25% 0.19% EQ/Boston Advisors Equity Income 0.75% 0.25% 0.14% EQ/Calvert Socially Responsible 0.65% 0.25% 0.23% EQ/Capital Guardian Growth 0.65% 0.25% 0.14% EQ/Capital Guardian Research 0.63% 0.25% 0.13% EQ/Caywood-Scholl High Yield Bond 0.60% 0.25% 0.16% EQ/Davis New York Venture 0.85% 0.25% 0.18% EQ/Equity 500 Index 0.25% 0.25% 0.13% EQ/Evergreen International Bond 0.70% 0.25% 0.17% EQ/Evergreen Omega 0.65% 0.25% 0.25% EQ/FI Mid Cap 0.68% 0.25% 0.13% EQ/Franklin Income 0.90% 0.25% 0.15% EQ/Franklin Small Cap Value 0.90% 0.25% 0.18% EQ/Franklin Templeton Founding Strategy 0.05% 0.25% 0.22% EQ/GAMCO Mergers and Acquisitions 0.90% 0.25% 0.19% EQ/GAMCO Small Company Value 0.76% 0.25% 0.12% EQ/International Core PLUS 0.60% 0.25% 0.30% EQ/International Growth 0.85% 0.25% 0.27% EQ/JPMorgan Core Bond 0.43% 0.25% 0.13% EQ/JPMorgan Value Opportunities 0.60% 0.25% 0.14% EQ/Large Cap Core PLUS 0.50% 0.25% 0.25% EQ/Large Cap Growth PLUS 0.50% 0.25% 0.24% EQ/Legg Mason Value Equity 0.65% 0.25% 0.17% - --------------------------------------------------------------------------------------------- - --------------------------------------------------------------------------------------------------------------------- Total Acquired Annual Net Fund Expenses Fee Waiv- Annual Fees and (Before ers and/or Expenses Expenses Expense Expense (After (Underlying Limita- Reimburse- Expense Portfolio Name Portfolios)(8) tions) ments(9) Limitations) - --------------------------------------------------------------------------------------------------------------------- AXA Premier VIP Trust: - --------------------------------------------------------------------------------------------------------------------- AXA Aggressive Allocation 0.92% 1.44% (0.17)% 1.27% AXA Conservative Allocation 0.69% 1.25% (0.21)% 1.04% AXA Conservative-Plus Allocation 0.76% 1.30% (0.19)% 1.11% AXA Moderate Allocation 0.82% 1.34% (0.17)% 1.17% AXA Moderate-Plus Allocation 0.86% 1.38% (0.17)% 1.21% Multimanager Aggressive Equity -- 1.04% -- 1.04% Multimanager Core Bond -- 1.01% (0.01)% 1.00% Multimanager Health Care -- 1.68% 0.00% 1.68% Multimanager High Yield -- 1.01% -- 1.01% Multimanager International Equity -- 1.48% 0.00% 1.48% Multimanager Large Cap Core Equity -- 1.35% 0.00% 1.35% Multimanager Large Cap Growth -- 1.37% (0.02)% 1.35% Multimanager Large Cap Value -- 1.32% 0.00% 1.32% Multimanager Mid Cap Growth -- 1.55% 0.00% 1.55% Multimanager Mid Cap Value -- 1.54% 0.00% 1.54% Multimanager Small Cap Growth -- 1.57% (0.02)% 1.55% Multimanager Small Cap Value -- 1.46% 0.00% 1.46% Multimanager Technology 0.01% 1.68% 0.00% 1.68% Target 2015 Allocation 0.55% 2.61% (1.46)% 1.15% Target 2025 Allocation 0.55% 2.31% (1.16)% 1.15% Target 2035 Allocation 0.55% 3.28% (2.13)% 1.15% Target 2045 Allocation 0.55% 3.71% (2.56)% 1.15% - --------------------------------------------------------------------------------------------------------------------- EQ Advisors Trust: - --------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock -- 0.85% -- 0.85% EQ/AllianceBernstein Intermediate Government Securities -- 0.88% -- 0.88% EQ/AllianceBernstein International -- 1.14% (0.04)% 1.10% EQ/AllianceBernstein Large Cap Growth -- 1.28% (0.23)% 1.05% EQ/AllianceBernstein Quality Bond -- 0.89% -- 0.89% EQ/AllianceBernstein Small Cap Growth -- 1.12% -- 1.12% EQ/AllianceBernstein Value -- 0.96% (0.01)% 0.95% EQ/Ariel Appreciation II -- 1.26% (0.11)% 1.15% EQ/AXA Rosenberg Value Long/Short Equity -- 3.56% 0.00% 3.56% EQ/BlackRock Basic Value Equity -- 0.93% 0.00% 0.93% EQ/BlackRock International Value -- 1.25% 0.00% 1.25% EQ/Boston Advisors Equity Income -- 1.14% (0.09)% 1.05% EQ/Calvert Socially Responsible -- 1.13% (0.08)% 1.05% EQ/Capital Guardian Growth 0.01% 1.05% (0.09)% 0.96% EQ/Capital Guardian Research -- 1.01% (0.06)% 0.95% EQ/Caywood-Scholl High Yield Bond -- 1.01% (0.01)% 1.00% EQ/Davis New York Venture -- 1.28% 0.00% 1.28% EQ/Equity 500 Index -- 0.63% -- 0.63% EQ/Evergreen International Bond -- 1.12% 0.00% 1.12% EQ/Evergreen Omega -- 1.15% 0.00% 1.15% EQ/FI Mid Cap -- 1.06% (0.06)% 1.00% EQ/Franklin Income -- 1.30% 0.00% 1.30% EQ/Franklin Small Cap Value -- 1.33% (0.03)% 1.30% EQ/Franklin Templeton Founding Strategy 1.05% 1.57% (0.12)% 1.45%(10) EQ/GAMCO Mergers and Acquisitions -- 1.34% 0.00% 1.34% EQ/GAMCO Small Company Value -- 1.13% 0.00% 1.13% EQ/International Core PLUS 0.04% 1.19% (0.05)% 1.14% EQ/International Growth -- 1.37% 0.00% 1.37% EQ/JPMorgan Core Bond -- 0.81% 0.00% 0.81% EQ/JPMorgan Value Opportunities -- 0.99% (0.04)% 0.95% EQ/Large Cap Core PLUS 0.02% 1.02% (0.05)% 0.97% EQ/Large Cap Growth PLUS 0.02% 1.01% (0.04)% 0.97% EQ/Legg Mason Value Equity -- 1.07% (0.07)% 1.00% - ---------------------------------------------------------------------------------------------------------------------
12 Fee table
- ------------------------------------------------------------------------------------------------------------------------------------ Total Acquired Annual Net Fund Expenses Fee Waiv- Annual Fees and (Before ers and/or Expenses Manage- Expenses Expense Expense (After ment 12b-1 Other (Underlying Limita- Reimburse- Expense Portfolio Name Fees(5) Fees(6) Expenses(7) Portfolios)(8) tions) ments(9) Limitations) - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Long Term Bond 0.40% 0.25% 0.13% -- 0.78% 0.00% 0.78% EQ/Lord Abbett Growth and Income 0.65% 0.25% 0.16% -- 1.06% (0.06)% 1.00% EQ/Lord Abbett Large Cap Core 0.65% 0.25% 0.21% -- 1.11% (0.11)% 1.00% EQ/Lord Abbett Mid Cap Value 0.70% 0.25% 0.15% -- 1.10% (0.05)% 1.05% EQ/Marsico Focus 0.85% 0.25% 0.13% -- 1.23% (0.08)% 1.15% EQ/Mid Cap Value PLUS 0.55% 0.25% 0.24% 0.02% 1.06% (0.04)% 1.02% EQ/Money Market 0.32% 0.25% 0.13% -- 0.70% -- 0.70% EQ/Montag & Caldwell Growth 0.75% 0.25% 0.15% -- 1.15% 0.00% 1.15% EQ/Mutual Shares 0.90% 0.25% 0.21% -- 1.36% (0.06)% 1.30% EQ/Oppenheimer Global 0.95% 0.25% 0.51% 0.01% 1.72% (0.36)% 1.36% EQ/Oppenheimer Main Street Opportunity 0.85% 0.25% 0.45% 0.01% 1.56% (0.25)% 1.31% EQ/Oppenheimer Main Street Small Cap 0.90% 0.25% 0.48% 0.01% 1.64% (0.33)% 1.31% EQ/PIMCO Real Return 0.55% 0.25% 0.14% -- 0.94% (0.04)% 0.90% EQ/Short Duration Bond 0.43% 0.25% 0.15% -- 0.83% 0.00% 0.83% EQ/Small Company Index 0.25% 0.25% 0.14% -- 0.64% 0.00% 0.64% EQ/T. Rowe Price Growth Stock 0.79% 0.25% 0.14% -- 1.18% (0.03)% 1.15% EQ/Templeton Growth 0.95% 0.25% 0.20% -- 1.40% (0.05)% 1.35% EQ/UBS Growth and Income 0.75% 0.25% 0.16% -- 1.16% (0.11)% 1.05% EQ/Van Kampen Comstock 0.65% 0.25% 0.15% -- 1.05% (0.05)% 1.00% EQ/Van Kampen Emerging Markets Equity 1.11% 0.25% 0.28% -- 1.64% 0.00% 1.64% EQ/Van Kampen Mid Cap Growth 0.70% 0.25% 0.15% -- 1.10% (0.05)% 1.05% EQ/Van Kampen Real Estate 0.90% 0.25% 0.21% -- 1.36% (0.10)% 1.26% - ------------------------------------------------------------------------------------------------------------------------------------
Notes: (1) Deducted upon a withdrawal of amounts in excess of the 10% free withdrawal amount. Important exceptions and limitations may eliminate or reduce this charge.
The withdrawal charge percentage we use is determined by the contract year in which you Contract make the withdrawal or surrender your contract. For each contribution, we consider Year the contract year in which we receive that contribution to be "contract year 1". 1 .................7.00% 2 .................6.00% 3 .................5.00% 4 .................4.00% 5 .................3.00% 6 .................2.00% 7 .................1.00% 8+ ................0.00%
(2) During the first two contract years, this charge is equal to the lesser of 2% of your account value plus any prior withdrawals during the Contract year or $30, if this charge applies. (3) A portion of this charge is for providing the death benefit. (4) "Total Annual Portfolio Operating Expenses" are based, in part, on estimated amounts for options added during the fiscal year 2007 and for the underlying portfolios. (5) The management fees for each portfolio cannot be increased without a vote of that portfolio's shareholders. See footnote (9) for any expense limitation agreement information. (6) Portfolio shares are all subject to fees imposed under the distribution plans (the "Rule 12b-1 Plan") adopted by the Trusts pursuant to Rule 12b-1 under the Investment Company Act of 1940. For the portfolios of the AXA Premier VIP Trust and the EQ Advisors Trust, the 12b-1 fees will not be increased for the life of the contract. (7) The amounts shown as "Other Expenses" will fluctuate from year to year depending on actual expenses. See footnote (9) for any expense limitation agreement information. (8) Each of these variable investment options invests in a corresponding portfolio of one of the Trusts or other unaffiliated investment companies. Each portfolio, in turn, invests in shares of other portfolios of the Trusts and/or shares of unaffiliated portfolios ("underlying portfolios"). Amounts shown reflect each portfolio's pro rata share of the fees and expenses of the underlying portfolio(s) in which it invests. A "--" indicates that the listed portfolio does not invest in underlying portfolios. (9) The amounts shown reflect any fee waivers and/or expense reimbursements that apply to each portfolio. A "--" indicates that there is no expense limitation in effect, and "0.00%" indicates that the expense limitation arrangement did not result in a fee waiver or reimbursement. AXA Equitable, the investment manager of AXA Premier VIP Trust and EQ Advisors Trust, has entered into expense limitation agreements with respect to certain portfolios, which are effective through April 30, 2009 (unless the Board of Trustees of AXA Premier VIP Trust or EQ Advisors Trust, as applicable, consents to an earlier revision or termination of this arrangement). Under these agreements, AXA Equitable has agreed to waive or limit its fees and assume other expenses of certain portfolios, if necessary, in an amount that limits such portfolio's Total Annual Expenses (exclusive of interest, taxes, brokerage commissions, capitalized expenditures, expenses of the underlying portfolios in which the portfolio invests and extraordinary expenses) to not more than the amounts specified in the agreements. Therefore, each portfolio may at a later date make a reimbursement to AXA Equitable for any of the management fees waived or limited and other expenses assumed and paid by AXA Equitable pursuant to the expense limitation agreements provided that the portfolio's current annual operating expenses do not exceed the operating expense limit determined for such portfolio. See the prospectuses for each applicable underlying Trust for more information about the arrangements. In addition, a portion of the brokerage commissions of certain portfolios of AXA Premier VIP Trust and EQ Advisors Trust is used to reduce the applicable portfolio's expenses. If the above table reflected both the expense limitation arrangements plus the portion of the brokerage commissions used to reduce portfolio expenses, the net expenses would be as shown in the table below:
- ---------------------------------------------- Portfolio Name: - ---------------------------------------------- Multimanager Aggressive Equity 0.97% - ---------------------------------------------- Multimanager Health Care 1.67% - ---------------------------------------------- Multimanager Large Cap Core Equity 1.34% - ----------------------------------------------
Fee table 13
- ---------------------------------------------- Portfolio Name: - ---------------------------------------------- Multimanager Large Cap Growth 1.29% - ---------------------------------------------- Multimanager Large Cap Value 1.26% - ---------------------------------------------- Multimanager Mid Cap Growth 1.52% - ---------------------------------------------- Multimanager Mid Cap Value 1.53% - ---------------------------------------------- Multimanager Small Cap Growth 1.35% - ---------------------------------------------- Multimanager Small Cap Value 1.45% - ---------------------------------------------- Multimanager Technology 1.67% - ---------------------------------------------- EQ/AllianceBernstein Common Stock 0.84% - ---------------------------------------------- EQ/AllianceBernstein Large Cap Growth 1.03% - ---------------------------------------------- EQ/AllianceBernstein Small Cap Growth 1.11% - ---------------------------------------------- EQ/AllianceBernstein Value 0.87% - ---------------------------------------------- EQ/Ariel Appreciation II 1.09% - ---------------------------------------------- EQ/BlackRock Basic Value Equity 0.92% - ---------------------------------------------- EQ/Davis New York Venture 1.25% - ---------------------------------------------- EQ/Evergreen Omega 1.12% - ---------------------------------------------- EQ/GAMCO Mergers and Acquisitions 1.33% - ---------------------------------------------- EQ/GAMCO Small Company Value 1.10% - ---------------------------------------------- EQ/International Core PLUS 1.05% - ---------------------------------------------- EQ/Large Cap Core PLUS 0.83% - ---------------------------------------------- EQ/Large Cap Growth PLUS 0.82% - ---------------------------------------------- EQ/Legg Mason Value Equity 0.97% - ---------------------------------------------- EQ/Lord Abbett Growth and Income 0.98% - ---------------------------------------------- EQ/Lord Abbett Large Cap Core 0.99% - ---------------------------------------------- EQ/Lord Abbett Mid Cap Value 1.04% - ---------------------------------------------- EQ/Mid Cap Value PLUS 0.81% - ---------------------------------------------- EQ/Montag & Caldwell Growth 1.13% - ---------------------------------------------- EQ/T. Rowe Price Growth Stock 0.87% - ---------------------------------------------- EQ/UBS Growth and Income 1.04% - ---------------------------------------------- EQ/Van Kampen Comstock 0.99% - ---------------------------------------------- EQ/Van Kampen Mid Cap Growth 1.04% - ----------------------------------------------
(10) In addition to the fee waiver and/or expense reimbursement discussed in the footnote immediately above, AXA Equitable, voluntarily will waive all its management and adminis tration fees and reimburse all other expenses associated with the EQ/Franklin Templeton Founding Strategy Portfolio ("Portfolio") (exclusive of taxes, interest, brokerage commissions, capitalized expenses, expenses of the investment companies in which the Portfolio invests, Rule 12b-1 fees and extraordinary expenses). Accordingly, the Total Annual Operating Expenses (including Acquired Fund Fees and Expenses), taking into account the voluntary waiver by AXA Equitable, will be 1.30%. The voluntary waiver by AXA Equitable will remain in effect until April 30, 2009. EXAMPLES These examples are intended to help you compare the cost of investing in the contract with the cost of investing in other variable annuity contracts. These costs include contract owner transaction expenses, contract fees, separate account annual expenses, and underlying Trust fees and expenses (including underlying portfolio fees and expenses). For a complete description of portfolio charges and expenses, please see the prospectus for each Trust. The examples below show the expenses that a hypothetical contract owner would pay in the situations illustrated. The examples use an average annual administrative charge based on charges paid in 2007, which results in an estimated annual charge of 0.0453% of contract value. The fixed maturity options are not covered by the fee table and examples. However, the annual administrative charge, the withdrawal charge, the third-party transfer or exchange charge, and the charge if you elect a Variable Immediate Annuity payout option do apply to the fixed maturity options. A market value adjustment (up or down) will apply as a result of a withdrawal, transfer, or surrender of amounts from a fixed maturity option. These examples should not be considered a representation of past or future expenses for any option. 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. The examples assume that you invest $10,000 in the contract for the time periods indicated and that your investment has a 5% return each year. The examples also assume (i) maximum contract charges rather than the lower current expenses discussed in "Charges and expenses" later in this prospectus (except the annual administrative charge which is described above); (ii) the total annual expenses of the portfolios (before expense limitations) set forth in the previous tables; and (iii) there is no waiver of the withdrawal charge. Although your actual costs may be higher or lower, based on these assumptions, your costs would be: 14 Fee table
- ---------------------------------------------------------------------------------------------------------- If you surrender your contract at the end of the applicable time period ------------------------------------------------ 1 year 3 years 5 years 10 years - ---------------------------------------------------------------------------------------------------------- AXA PREMIER VIP TRUST: - ---------------------------------------------------------------------------------------------------------- AXA Aggressive Allocation $1,004 $1,581 $2,167 $3,887 AXA Conservative Allocation $ 986 $1,525 $2,075 $3,709 AXA Conservative-Plus Allocation $ 990 $1,539 $2,099 $3,756 AXA Moderate Allocation $ 994 $1,551 $2,119 $3,793 AXA Moderate-Plus Allocation $ 998 $1,563 $2,138 $3,831 Multimanager Aggressive Equity $ 965 $1,463 $1,972 $3,507 Multimanager Core Bond $ 962 $1,454 $1,957 $3,478 Multimanager Health Care $1,028 $1,651 $2,283 $4,107 Multimanager High Yield $ 962 $1,454 $1,957 $3,478 Multimanager International Equity $1,008 $1,592 $2,187 $3,924 Multimanager Large Cap Core Equity $ 995 $1,554 $2,124 $3,803 Multimanager Large Cap Growth $ 997 $1,560 $2,133 $3,822 Multimanager Large Cap Value $ 992 $1,545 $2,109 $3,775 Multimanager Mid Cap Growth $1,015 $1,613 $2,221 $3,989 Multimanager Mid Cap Value $1,014 $1,610 $2,216 $3,979 Multimanager Small Cap Growth $1,017 $1,619 $2,230 $4,007 Multimanager Small Cap Value $1,006 $1,586 $2,177 $3,906 Multimanager Technology $1,028 $1,651 $2,283 $4,107 Target 2015 Allocation $1,119 $1,919 $2,720 $4,911 Target 2025 Allocation $1,090 $1,833 $2,581 $4,660 Target 2035 Allocation $1,185 $2,109 $3,024 $5,443 Target 2045 Allocation $1,227 $2,229 $3,214 $5,765 - ---------------------------------------------------------------------------------------------------------- EQ ADVISORS TRUST: - ---------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock $ 946 $1,407 $1,878 $3,321 EQ/AllianceBernstein Intermediate Government Securities $ 949 $1,416 $1,893 $3,351 EQ/AllianceBernstein International $ 975 $1,492 $2,021 $3,604 EQ/AllianceBernstein Large Cap Growth $ 989 $1,534 $2,090 $3,737 EQ/AllianceBernstein Quality Bond $ 950 $1,418 $1,898 $3,361 EQ/AllianceBernstein Small Cap Growth $ 973 $1,486 $2,011 $3,584 EQ/AllianceBernstein Value $ 957 $1,439 $1,932 $3,429 EQ/Ariel Appreciation II $ 987 $1,528 $2,080 $3,718 EQ/AXA Rosenberg Value Long/Short Equity $1,213 $2,188 $3,148 $5,655 EQ/BlackRock Basic Value Equity $ 954 $1,430 $1,917 $3,400 EQ/BlackRock International Value $ 986 $1,525 $2,075 $3,709 EQ/Boston Advisors Equity Income $ 975 $1,492 $2,021 $3,604 EQ/Calvert Socially Responsible $ 974 $1,489 $2,016 $3,594 EQ/Capital Guardian Growth $ 966 $1,466 $1,977 $3,517 EQ/Capital Guardian Research $ 962 $1,454 $1,957 $3,478 EQ/Caywood-Scholl High Yield Bond $ 962 $1,454 $1,957 $3,478 EQ/Davis New York Venture $ 989 $1,534 $2,090 $3,737 EQ/Equity 500 Index $ 925 $1,341 $1,767 $3,102 EQ/Evergreen International Bond $ 973 $1,486 $2,011 $3,584 EQ/Evergreen Omega $ 976 $1,495 $2,026 $3,613 EQ/FI Mid Cap $ 967 $1,469 $1,982 $3,527 EQ/Franklin Income $ 990 $1,539 $2,099 $3,756 - ---------------------------------------------------------------------------------------------------------- - ---------------------------------------------------------------------------------------------------------- If you annuitize at the end of the applicable time period and select a non-life contingent period certain annuity option with less than ten years. ---------------------------------------------------- 1 year 3 years 5 years 10 years - ---------------------------------------------------------------------------------------------------------- AXA PREMIER VIP TRUST: - ---------------------------------------------------------------------------------------------------------- AXA Aggressive Allocation N/A $1,581 $2,167 $3,887 AXA Conservative Allocation N/A $1,525 $2,075 $3,709 AXA Conservative-Plus Allocation N/A $1,539 $2,099 $3,756 AXA Moderate Allocation N/A $1,551 $2,119 $3,793 AXA Moderate-Plus Allocation N/A $1,563 $2,138 $3,831 Multimanager Aggressive Equity N/A $1,463 $1,972 $3,507 Multimanager Core Bond N/A $1,454 $1,957 $3,478 Multimanager Health Care N/A $1,651 $2,283 $4,107 Multimanager High Yield N/A $1,454 $1,957 $3,478 Multimanager International Equity N/A $1,592 $2,187 $3,924 Multimanager Large Cap Core Equity N/A $1,554 $2,124 $3,803 Multimanager Large Cap Growth N/A $1,560 $2,133 $3,822 Multimanager Large Cap Value N/A $1,545 $2,109 $3,775 Multimanager Mid Cap Growth N/A $1,613 $2,221 $3,989 Multimanager Mid Cap Value N/A $1,610 $2,216 $3,979 Multimanager Small Cap Growth N/A $1,619 $2,230 $4,007 Multimanager Small Cap Value N/A $1,586 $2,177 $3,906 Multimanager Technology N/A $1,651 $2,283 $4,107 Target 2015 Allocation N/A $1,919 $2,720 $4,911 Target 2025 Allocation N/A $1,833 $2,581 $4,660 Target 2035 Allocation N/A $2,109 $3,024 $5,443 Target 2045 Allocation N/A $2,229 $3,214 $5,765 - ---------------------------------------------------------------------------------------------------------- EQ ADVISORS TRUST: - ---------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock N/A $1,407 $1,878 $3,321 EQ/AllianceBernstein Intermediate Government Securities N/A $1,416 $1,893 $3,351 EQ/AllianceBernstein International N/A $1,492 $2,021 $3,604 EQ/AllianceBernstein Large Cap Growth N/A $1,534 $2,090 $3,737 EQ/AllianceBernstein Quality Bond N/A $1,418 $1,898 $3,361 EQ/AllianceBernstein Small Cap Growth N/A $1,486 $2,011 $3,584 EQ/AllianceBernstein Value N/A $1,439 $1,932 $3,429 EQ/Ariel Appreciation II N/A $1,528 $2,080 $3,718 EQ/AXA Rosenberg Value Long/Short Equity N/A $2,188 $3,148 $5,655 EQ/BlackRock Basic Value Equity N/A $1,430 $1,917 $3,400 EQ/BlackRock International Value N/A $1,525 $2,075 $3,709 EQ/Boston Advisors Equity Income N/A $1,492 $2,021 $3,604 EQ/Calvert Socially Responsible N/A $1,489 $2,016 $3,594 EQ/Capital Guardian Growth N/A $1,466 $1,977 $3,517 EQ/Capital Guardian Research N/A $1,454 $1,957 $3,478 EQ/Caywood-Scholl High Yield Bond N/A $1,454 $1,957 $3,478 EQ/Davis New York Venture N/A $1,534 $2,090 $3,737 EQ/Equity 500 Index N/A $1,341 $1,767 $3,102 EQ/Evergreen International Bond N/A $1,486 $2,011 $3,584 EQ/Evergreen Omega N/A $1,495 $2,026 $3,613 EQ/FI Mid Cap N/A $1,469 $1,982 $3,527 EQ/Franklin Income N/A $1,539 $2,099 $3,756 - ---------------------------------------------------------------------------------------------------------- - ---------------------------------------------------------------------------------------------------------- If you do not surrender your contract at the end of the applicable time period ------------------------------------------------ 1 year 3 years 5 years 10 years - ---------------------------------------------------------------------------------------------------------- AXA PREMIER VIP TRUST: - ---------------------------------------------------------------------------------------------------------- AXA Aggressive Allocation $366 $1,112 $1,879 $3,887 AXA Conservative Allocation $346 $1,054 $1,783 $3,709 AXA Conservative-Plus Allocation $351 $1,069 $1,809 $3,756 AXA Moderate Allocation $355 $1,081 $1,829 $3,793 AXA Moderate-Plus Allocation $359 $1,094 $1,849 $3,831 Multimanager Aggressive Equity $324 $ 989 $1,677 $3,507 Multimanager Core Bond $321 $ 979 $1,662 $3,478 Multimanager Health Care $391 $1,186 $1,998 $4,107 Multimanager High Yield $321 $ 979 $1,662 $3,478 Multimanager International Equity $370 $1,124 $1,899 $3,924 Multimanager Large Cap Core Equity $356 $1,084 $1,834 $3,803 Multimanager Large Cap Growth $358 $1,091 $1,844 $3,822 Multimanager Large Cap Value $353 $1,075 $1,819 $3,775 Multimanager Mid Cap Growth $377 $1,146 $1,934 $3,989 Multimanager Mid Cap Value $376 $1,143 $1,929 $3,979 Multimanager Small Cap Growth $379 $1,152 $1,943 $4,007 Multimanager Small Cap Value $368 $1,118 $1,889 $3,906 Multimanager Technology $391 $1,186 $1,998 $4,107 Target 2015 Allocation $489 $1,467 $2,449 $4,911 Target 2025 Allocation $457 $1,377 $2,305 $4,660 Target 2035 Allocation $559 $1,667 $2,762 $5,443 Target 2045 Allocation $604 $1,793 $2,958 $5,765 - ---------------------------------------------------------------------------------------------------------- EQ ADVISORS TRUST: - ---------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock $304 $ 930 $1,580 $3,321 EQ/AllianceBernstein Intermediate Government Securities $307 $ 939 $1,596 $3,351 EQ/AllianceBernstein International $334 $1,020 $1,728 $3,604 EQ/AllianceBernstein Large Cap Growth $349 $1,063 $1,799 $3,737 EQ/AllianceBernstein Quality Bond $308 $ 942 $1,601 $3,361 EQ/AllianceBernstein Small Cap Growth $332 $1,013 $1,718 $3,584 EQ/AllianceBernstein Value $315 $ 964 $1,636 $3,429 EQ/Ariel Appreciation II $347 $1,057 $1,788 $3,718 EQ/AXA Rosenberg Value Long/Short Equity $588 $1,749 $2,890 $5,655 EQ/BlackRock Basic Value Equity $312 $ 955 $1,621 $3,400 EQ/BlackRock International Value $346 $1,054 $1,783 $3,709 EQ/Boston Advisors Equity Income $334 $1,020 $1,728 $3,604 EQ/Calvert Socially Responsible $333 $1,017 $1,723 $3,594 EQ/Capital Guardian Growth $325 $ 992 $1,682 $3,517 EQ/Capital Guardian Research $321 $ 979 $1,662 $3,478 EQ/Caywood-Scholl High Yield Bond $321 $ 979 $1,662 $3,478 EQ/Davis New York Venture $349 $1,063 $1,799 $3,737 EQ/Equity 500 Index $281 $ 861 $1,467 $3,102 EQ/Evergreen International Bond $332 $1,013 $1,718 $3,584 EQ/Evergreen Omega $335 $1,023 $1,733 $3,613 EQ/FI Mid Cap $326 $ 995 $1,687 $3,527 EQ/Franklin Income $351 $1,069 $1,809 $3,756 - ----------------------------------------------------------------------------------------------------------
Fee table 15
- ------------------------------------------------------------------------------------------------------------------------------------ If you annuitize at the end of the applicable time period and select a non-life contingent If you surrender your contract at the end period certain annuity option with less of the applicable time period than ten years. ------------------------------------------------------------------------------------------- 1 year 3 years 5 years 10 years 1 year 3 years 5 years 10 years - ------------------------------------------------------------------------------------------------------------------------------------ EQ ADVISORS TRUST: - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Small Cap Value $ 993 $1,548 $2,114 $3,784 N/A $1,548 $2,114 $3,784 EQ/Franklin Templeton Founding Strategy $1,017 $1,619 $2,230 $4,007 N/A $1,619 $2,230 $4,007 EQ/GAMCO Mergers and Acquisitions $ 994 $1,551 $2,119 $3,793 N/A $1,551 $2,119 $3,793 EQ/GAMCO Small Company Value $ 974 $1,489 $2,016 $3,594 N/A $1,489 $2,016 $3,594 EQ/International Core PLUS $ 980 $1,507 $2,046 $3,652 N/A $1,507 $2,046 $3,652 EQ/International Growth $ 997 $1,560 $2,133 $3,822 N/A $1,560 $2,133 $3,822 EQ/JPMorgan Core Bond $ 942 $1,395 $1,858 $3,282 N/A $1,395 $1,858 $3,282 EQ/JPMorgan Value Opportunities $ 960 $1,448 $1,947 $3,459 N/A $1,448 $1,947 $3,459 EQ/Large Cap Core PLUS $ 963 $1,457 $1,962 $3,488 N/A $1,457 $1,962 $3,488 EQ/Large Cap Growth PLUS $ 962 $1,454 $1,957 $3,478 N/A $1,454 $1,957 $3,478 EQ/Legg Mason Value Equity $ 968 $1,472 $1,987 $3,536 N/A $1,472 $1,987 $3,536 EQ/Long Term Bond $ 939 $1,386 $1,843 $3,252 N/A $1,386 $1,843 $3,252 EQ/Lord Abbett Growth and Income $ 967 $1,469 $1,982 $3,527 N/A $1,469 $1,982 $3,527 EQ/Lord Abbett Large Cap Core $ 972 $1,484 $2,006 $3,575 N/A $1,484 $2,006 $3,575 EQ/Lord Abbett Mid Cap Value $ 971 $1,481 $2,001 $3,565 N/A $1,481 $2,001 $3,565 EQ/Marsico Focus $ 984 $1,519 $2,065 $3,690 N/A $1,519 $2,065 $3,690 EQ/Mid Cap Value PLUS $ 967 $1,469 $1,982 $3,527 N/A $1,469 $1,982 $3,527 EQ/Money Market $ 931 $1,362 $1,803 $3,172 N/A $1,362 $1,803 $3,172 EQ/Montag & Caldwell Growth $ 976 $1,495 $2,026 $3,613 N/A $1,495 $2,026 $3,613 EQ/Mutual Shares $ 996 $1,557 $2,128 $3,812 N/A $1,557 $2,128 $3,812 EQ/Oppenheimer Global $1,032 $1,662 $2,302 $4,144 N/A $1,662 $2,302 $4,144 EQ/Oppenheimer Main Street Opportunity $1,016 $1,616 $2,225 $3,998 N/A $1,616 $2,225 $3,998 EQ/Oppenheimer Main Street Small Cap $1,024 $1,639 $2,264 $4,071 N/A $1,639 $2,264 $4,071 EQ/PIMCO Real Return $ 955 $1,433 $1,922 $3,410 N/A $1,433 $1,922 $3,410 EQ/Short Duration Bond $ 944 $1,401 $1,868 $3,302 N/A $1,401 $1,868 $3,302 EQ/Small Company Index $ 926 $1,344 $1,772 $3,112 N/A $1,344 $1,772 $3,112 EQ/T. Rowe Price Growth Stock $ 979 $1,504 $2,041 $3,642 N/A $1,504 $2,041 $3,642 EQ/Templeton Growth $1,000 $1,569 $2,148 $3,850 N/A $1,569 $2,148 $3,850 EQ/UBS Growth and Income $ 977 $1,498 $2,031 $3,623 N/A $1,498 $2,031 $3,623 EQ/Van Kampen Comstock $ 966 $1,466 $1,977 $3,517 N/A $1,466 $1,977 $3,517 EQ/Van Kampen Emerging Markets Equity $1,024 $1,639 $2,264 $4,071 N/A $1,639 $2,264 $4,071 EQ/Van Kampen Mid Cap Growth $ 971 $1,481 $2,001 $3,565 N/A $1,481 $2,001 $3,565 EQ/Van Kampen Real Estate $ 996 $1,557 $2,128 $3,812 N/A $1,557 $2,128 $3,812 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------- If you do not surrender your contract at the end of the applicable time period 1 year 3 years 5 years 10 years - ------------------------------------------------------------------------------------------- EQ ADVISORS TRUST: - ------------------------------------------------------------------------------------------- EQ/Franklin Small Cap Value $354 $1,078 $1,824 $3,784 EQ/Franklin Templeton Founding Strategy $379 $1,152 $1,943 $4,007 EQ/GAMCO Mergers and Acquisitions $355 $1,081 $1,829 $3,793 EQ/GAMCO Small Company Value $333 $1,017 $1,723 $3,594 EQ/International Core PLUS $340 $1,035 $1,753 $3,652 EQ/International Growth $358 $1,091 $1,844 $3,822 EQ/JPMorgan Core Bond $300 $ 917 $1,560 $3,282 EQ/JPMorgan Value Opportunities $319 $ 973 $1,652 $3,459 EQ/Large Cap Core PLUS $322 $ 982 $1,667 $3,488 EQ/Large Cap Growth PLUS $321 $ 979 $1,662 $3,478 EQ/Legg Mason Value Equity $327 $ 998 $1,692 $3,536 EQ/Long Term Bond $297 $ 908 $1,544 $3,252 EQ/Lord Abbett Growth and Income $326 $ 995 $1,687 $3,527 EQ/Lord Abbett Large Cap Core $331 $1,010 $1,713 $3,575 EQ/Lord Abbett Mid Cap Value $330 $1,007 $1,708 $3,565 EQ/Marsico Focus $344 $1,047 $1,773 $3,690 EQ/Mid Cap Value PLUS $326 $ 995 $1,687 $3,527 EQ/Money Market $288 $ 883 $1,503 $3,172 EQ/Montag & Caldwell Growth $335 $1,023 $1,733 $3,613 EQ/Mutual Shares $357 $1,088 $1,839 $3,812 EQ/Oppenheimer Global $395 $1,198 $2,018 $4,144 EQ/Oppenheimer Main Street Opportunity $378 $1,149 $1,939 $3,998 EQ/Oppenheimer Main Street Small Cap $387 $1,174 $1,978 $4,071 EQ/PIMCO Real Return $313 $ 958 $1,626 $3,410 EQ/Short Duration Bond $302 $ 923 $1,570 $3,302 EQ/Small Company Index $282 $ 864 $1,472 $3,112 EQ/T. Rowe Price Growth Stock $339 $1,032 $1,748 $3,642 EQ/Templeton Growth $362 $1,100 $1,859 $3,850 EQ/UBS Growth and Income $336 $1,026 $1,738 $3,623 EQ/Van Kampen Comstock $325 $ 992 $1,682 $3,517 EQ/Van Kampen Emerging Markets Equity $387 $1,174 $1,978 $4,071 EQ/Van Kampen Mid Cap Growth $330 $1,007 $1,708 $3,565 EQ/Van Kampen Real Estate $357 $1,088 $1,839 $3,812 - -------------------------------------------------------------------------------------------
16 Fee table CONDENSED FINANCIAL INFORMATION Please see Appendix II at the end of this prospectus for the unit values and the number of units outstanding as of the end of the period shown for each of the variable investment options available as of December 31, 2007. Fee table 17 1. Contract features and benefits - -------------------------------------------------------------------------------- HOW YOU CAN PURCHASE AND CONTRIBUTE TO YOUR CONTRACT You may purchase a contract by making payments to us that we call "contributions." We require a minimum contribution amount to purchase a contract. The minimum contribution amount under our automatic investment program is $20. We discuss the automatic investment program under "About other methods of payment" in "More information" later in this prospectus. The following table summarizes our rules regarding contributions to your contract. All ages in the table refer to the age of the annuitant named in the contract. - -------------------------------------------------------------------------------- The "annuitant" is the person who is the measuring life for determining contract benefits. The annuitant is not necessarily the contract owner. - --------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------- Contract Available for Minimum type annuitant issue ages contributions - -------------------------------------------------------------------------------------- NQ 0 through 83 $50 (initial and additional) - -------------------------------------------------------------------------------------- Traditional IRA 0 through 83 $50 (initial and additional) - -------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------- Contract Source of Limitations on type contributions contributions - -------------------------------------------------------------------------------------- NQ o After-tax money. o Additional contributions can be made up to age 84. o Paid to us by check or transfer of contract value in a tax deferred exchange under Section 1035 of the Internal Revenue Code. o Paid to us by an employer who establishes a payroll deduction program. - -------------------------------------------------------------------------------------- Traditional IRA o "Regular" traditional IRA o Additional rollover contribu- contributions either made tions can be made up to age by you or paid to us by an 84. employer who establishes a payroll deduction program. o Regular IRA contributions may not exceed $5,000. o Additional catch-up o No regular IRA contribu- contributions. tions in the calendar year you turn age 70-1/2 and o Eligible rollover distribu- thereafter. tions from 403(b) plans, qualified plans and govern- o Rollover and direct transfer mental employer EDC contributions after age 70-1/2 plans. must be net of required minimum distributions. o Rollovers from another traditional individual o Additional catch-up contri- retirement arrangement. butions of up to $1,000 per calendar year where the o Direct custodian-to- owner is at least age 50 but custodian transfers under age 70-1/2 at any time from other traditional during the calendar year for individual retirement which the contribution is made. arrangements. - --------------------------------------------------------------------------------------
18 Contract features and benefits
- -------------------------------------------------------------------------------------- Contract Available for Minimum type annuitant issue ages contributions - -------------------------------------------------------------------------------------- Roth IRA 0 through 83 $50 (initial and additional) - -------------------------------------------------------------------------------------- Inherited IRA 0 through 70 $5,000 (initial) (traditional IRA $1,000 (additional) or Roth IRA) - -------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------- Contract Source of Limitations on type contributions contributions - -------------------------------------------------------------------------------------- Roth IRA o Regular Roth IRA contribu- o Additional contributions can tions either made by you or be made up to age 84. paid to us by an employer who establishes a payroll o Regular Roth IRA contribu- deduction program. tions may not exceed $ 5,000. o Additional catch-up contri- o Contributions are subject to butions income limits and other tax o Rollovers from another rules. See "Contributions to Roth IRA. Roth IRAs" in "Tax informa- tion" later in this prospectus. o Rollovers from a "desig- nated Roth contribution o Additional catch-up contri- account" under a 401(k) butions of up to $1,000 per plan or 403(b) plan. calendar year where the owner is at least age 50 at o Conversion rollovers from a any time during the calendar traditional IRA or other year for which the contribu- eligible retirement plan. tion is made. o Direct transfers from another Roth IRA. - -------------------------------------------------------------------------------------- Inherited IRA o Direct custodian-to- o Any additional contributions (traditional IRA custodian transfers of your must be from the same type or Roth IRA) interest as death beneficiary of IRA of the same deceased of the deceased owner's owner. traditional individual retire- o Non-spousal beneficiary ment arrangement or Roth direct rollover contributions IRA to an IRA of the same from qualified plans, 403(b) type. plans and governmental employer 457(b) plans may be made to a traditional inherited IRA contract under specified circumstances. - --------------------------------------------------------------------------------------
See "Tax information" later in this prospectus for a more detailed discussion of sources of contributions and certain contribution limitations. We may refuse to accept any contribution if the sum of all contributions under all EQUI-VEST(SM) series and EQUI-VEST(SM) At Retirement(SM) contracts with the same owner or annuitant would then total more than $1,500,000 ($500,000 for owners or annuitants who are 81 and older at contract issue). We may also refuse to accept any contribution if the sum of all contributions under all AXA Equitable annuity accumulation contracts with the same owner or annuitant would then total more than $2,500,000. For information on when contributions are credited, see "Dates and prices at which contract events occur" in "More information" later in this prospectus. Contract features and benefits 19 OWNER AND ANNUITANT REQUIREMENTS Under NQ contracts, the annuitant can be different than the owner. A joint owner may also be named. Only natural persons can be joint owners. This means that an entity such as a corporation cannot be a joint owner. Under traditional and Roth IRA contracts, the owner and annuitant must be the same person. For owner and annuitant requirements for Inherited IRA, see "Inherited IRA beneficiary continuation contract" later in this prospectus. HOW YOU CAN MAKE YOUR CONTRIBUTIONS Except as noted below, contributions must be made by check drawn on a U.S. bank in U.S. dollars, and made payable to AXA Equitable. We may also apply contributions made pursuant to a 1035 tax-free exchange or direct transfer. We do not accept third-party checks endorsed to us except for rollover contributions, tax-free exchanges or trustee checks that involve no refund. All checks are subject to our ability to collect the funds. We reserve the right to reject a payment if it is received in an unacceptable form. Additional contributions may also be made by wire transfer or our automatic investment program. The methods of payment are discussed in detail under "About other methods of payment" in "More information" later in this prospectus. Your initial contribution must generally be accompanied by an application and any other form we need to process the contributions. If any information is missing or unclear, we will hold the contribution, whether received via check or wire, in a non-interest bearing suspense account while we try to obtain that information. If we are unable to obtain all of the information we require within five business days after we receive an incomplete application or form, we will inform the financial professional submitting the application on your behalf. We will then return the contribution to you unless you specifically direct us to keep your contribution until we receive the required information. Generally, you may make additional contributions at any time. You may do so in single sum amounts, on a regular basis, or as your financial situation permits. - -------------------------------------------------------------------------------- Our "business day" is generally any day the New York Stock Exchange is open for regular trading and generally ends at 4:00 p.m. Eastern Time (or as of an earlier close of regular trading). A business day does not include a day on which we are not open due to emergency conditions determined by the Securities and Exchange Commission. We may also close early due to such emergency conditions. For more information about our business day and our pricing of transactions, please see "Dates and prices at which contract events occur." - -------------------------------------------------------------------------------- WHAT ARE YOUR INVESTMENT OPTIONS UNDER THE CONTRACT? Your investment options are the variable investment options and the fixed maturity options. VARIABLE INVESTMENT OPTIONS Your investment results in any one of the variable investment options will depend on the investment performance of the underlying portfolios. You can lose your principal when investing in the variable investment options. In periods of poor market performance, the net return, after charges and expenses, may result in negative yields, including for the EQ/Money Market variable investment option. Listed below are the currently available portfolios, their investment objectives, and their advisers. - -------------------------------------------------------------------------------- You can choose from among the variable investment options and fixed maturity options. - -------------------------------------------------------------------------------- 20 Contract features and benefits PORTFOLIOS OF THE TRUSTS The AXA Allocation Portfolios and the EQ/Franklin Templeton Founding Strategy Portfolio offer contract owners a convenient opportunity to invest in other portfolios that are managed and have been selected for inclusion in the AXA Allocation Portfolios and the EQ/Franklin Templeton Founding Strategy Portfolio by AXA Equitable. AXA Advisors, LLC, an affiliated broker-dealer of AXA Equitable, may promote the benefits of such portfolios to contract owners and/or suggest, incidental to the sale of this contract, that contract owners consider whether allocating some or all of their account value to such portfolios is consistent with their desired investment objectives. In doing so, AXA Equitable, and/or its affiliates, may be subject to conflicts of interest insofar as AXA Equitable may derive greater revenues from the AXA Allocation Portfolios and the EQ/Franklin Templeton Founding Strategy Portfolio than certain other portfolios available to you under your contract. In addition, due to the relative diversification of the underlying portfolios covering various asset classes and categories, the AXA Allocation Portfolios and the EQ/Franklin Templeton Founding Strategy Portfolio may enable AXA Equitable to more efficiently manage AXA Equitable's financial risks associated with certain guaranteed features. Please see "Allocating your contributions" later in this section for more information about your role in managing your allocations. AXA Equitable serves as the investment manager of the portfolios of AXA Premier VIP Trust and EQ Advisors Trust. For some portfolios, AXA Equitable has entered into sub-advisory agreements with investment advisers (the "sub-advisers") to carry out the day-to-day investment decisions for the portfolios. As such, AXA Equitable oversees the activities of the sub-advisers with respect to the Trusts and is responsible for retaining or discontinuing the services of those sub-advisers. The chart below indicates the objective and investment manager or the sub-adviser(s), as applicable, for each portfolio.
- ------------------------------------------------------------------------------------------- AXA Premier VIP Trust Portfolio Name Objective - ------------------------------------------------------------------------------------------- AXA AGGRESSIVE ALLOCATION Seeks long-term capital appreciation. - ------------------------------------------------------------------------------------------- AXA CONSERVATIVE ALLOCATION Seeks a high level of current income. - ------------------------------------------------------------------------------------------- AXA CONSERVATIVE-PLUS Seeks current income and growth of capital, with a ALLOCATION greater emphasis on current income. - ------------------------------------------------------------------------------------------- AXA MODERATE ALLOCATION Seeks long-term capital appreciation and current income. - ------------------------------------------------------------------------------------------- AXA MODERATE-PLUS Seeks long-term capital appreciation and current income, ALLOCATION with a greater emphasis on capital appreciation. - ------------------------------------------------------------------------------------------- MULTIMANAGER AGGRESSIVE Long-term growth of capital. EQUITY - ------------------------------------------------------------------------------------------- MULTIMANAGER CORE BOND To seek a balance of high current income and capital appreciation, consistent with a prudent level of risk. - ------------------------------------------------------------------------------------------- MULTIMANAGER HEALTH CARE Long-term growth of capital. - ------------------------------------------------------------------------------------------- MULTIMANAGER HIGH YIELD High total return through a combination of current income and capital appreciation. - ------------------------------------------------------------------------------------------- MULTIMANAGER INTERNATIONAL Long-term growth of capital. EQUITY - ------------------------------------------------------------------------------------------- MULTIMANAGER LARGE CAP Long-term growth of capital. CORE EQUITY - ------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------- AXA Premier VIP Trust Investment Manager (or Sub-Adviser(s), as Portfolio Name applicable) - ------------------------------------------------------------------------------------------- AXA AGGRESSIVE ALLOCATION o AXA Equitable - ------------------------------------------------------------------------------------------- AXA CONSERVATIVE ALLOCATION o AXA Equitable - ------------------------------------------------------------------------------------------- AXA CONSERVATIVE-PLUS o AXA Equitable ALLOCATION - ------------------------------------------------------------------------------------------- AXA MODERATE ALLOCATION o AXA Equitable - ------------------------------------------------------------------------------------------- AXA MODERATE-PLUS o AXA Equitable ALLOCATION - ------------------------------------------------------------------------------------------- MULTIMANAGER AGGRESSIVE o AllianceBernstein L.P. EQUITY o ClearBridge Advisors, LLC o Legg Mason Capital Management, Inc. o Marsico Capital Management, LLC - ------------------------------------------------------------------------------------------- MULTIMANAGER CORE BOND o BlackRock Financial Management, Inc. o Pacific Investment Management Company LLC - ------------------------------------------------------------------------------------------- MULTIMANAGER HEALTH CARE o Invesco Aim Capital Management, Inc. o RCM Capital Management LLC o Wellington Management Company, LLP - ------------------------------------------------------------------------------------------- MULTIMANAGER HIGH YIELD o Pacific Investment Management Company LLC o Post Advisory Group, LLC - ------------------------------------------------------------------------------------------- MULTIMANAGER INTERNATIONAL o AllianceBernstein L.P. EQUITY o JPMorgan Investment Management Inc. o Marsico Capital Management, LLC - ------------------------------------------------------------------------------------------- MULTIMANAGER LARGE CAP o AllianceBernstein L.P. CORE EQUITY o Janus Capital Management LLC o Thornburg Investment Management, Inc. - -------------------------------------------------------------------------------------------
Contract features and benefits 21
- ------------------------------------------------------------------------------------------- AXA Premier VIP Trust Portfolio Name Objective - ------------------------------------------------------------------------------------------- MULTIMANAGER LARGE CAP Long-term growth of capital. GROWTH - ------------------------------------------------------------------------------------------- MULTIMANAGER LARGE CAP Long-term growth of capital. VALUE - ------------------------------------------------------------------------------------------- MULTIMANAGER MID CAP Long-term growth of capital. GROWTH - ------------------------------------------------------------------------------------------- MULTIMANAGER MID CAP VALUE Long-term growth of capital. - ------------------------------------------------------------------------------------------- MULTIMANAGER SMALL CAP Long-term growth of capital. GROWTH - ------------------------------------------------------------------------------------------- MULTIMANAGER SMALL CAP Long-term growth of capital. VALUE - ------------------------------------------------------------------------------------------- MULTIMANAGER TECHNOLOGY Long-term growth of capital. - ------------------------------------------------------------------------------------------- TARGET 2015 ALLOCATION Seeks the highest total return over time consistent with its asset mix. Total return includes capital growth and income. - ------------------------------------------------------------------------------------------- TARGET 2025 ALLOCATION Seeks the highest total return over time consistent with its asset mix. Total return includes capital growth and income. - ------------------------------------------------------------------------------------------- TARGET 2035 ALLOCATION Seeks the highest total return over time consistent with its asset mix. Total return includes capital growth and income. - ------------------------------------------------------------------------------------------- TARGET 2045 ALLOCATION Seeks the highest total return over time consistent with its asset mix. Total return includes capital growth and income. - ------------------------------------------------------------------------------------------- EQ Advisors Trust Portfolio Name Objective - ------------------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN COM- Seeks to achieve long-term growth of capital. MON STOCK - ------------------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN INTER- Seeks to achieve high current income consistent with MEDIATE GOVERNMENT relative stability of principal. SECURITIES - ------------------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN INTER- Seeks to achieve long-term growth of capital. NATIONAL - ------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------- AXA Premier VIP Trust Investment Manager (or Sub-Adviser(s), as Portfolio Name applicable) - ------------------------------------------------------------------------------------------- MULTIMANAGER LARGE CAP o RCM Capital Management LLC GROWTH o TCW Investment Management Company o T. Rowe Price Associates, Inc. - ------------------------------------------------------------------------------------------- MULTIMANAGER LARGE CAP o AllianceBernstein L.P. VALUE o Institutional Capital LLC o MFS Investment Management - ------------------------------------------------------------------------------------------- MULTIMANAGER MID CAP o AllianceBernstein L.P. GROWTH o Franklin Advisers, Inc. o Provident Investment Counsel, Inc. - ------------------------------------------------------------------------------------------- MULTIMANAGER MID CAP VALUE o AXA Rosenberg Investment Management LLC o TCW Investment Management Company o Wellington Management Company, LLP - ------------------------------------------------------------------------------------------- MULTIMANAGER SMALL CAP o Eagle Asset Management, Inc. GROWTH o Wells Capital Management Inc. - ------------------------------------------------------------------------------------------- MULTIMANAGER SMALL CAP o Franklin Advisory Services, LLC VALUE o Lazard Asset Management LLC - ------------------------------------------------------------------------------------------- MULTIMANAGER TECHNOLOGY o Firsthand Capital Management, Inc. o RCM Capital Management LLC o Wellington Management Company, LLP TARGET 2015 ALLOCATION o AXA Equitable - ------------------------------------------------------------------------------------------- TARGET 2025 ALLOCATION o AXA Equitable - ------------------------------------------------------------------------------------------- TARGET 2035 ALLOCATION o AXA Equitable - ------------------------------------------------------------------------------------------- TARGET 2045 ALLOCATION o AXA Equitable - ------------------------------------------------------------------------------------------- EQ Advisors Trust Investment Manager (or Sub-Adviser(s), as Portfolio Name applicable) - ------------------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN COM- o AllianceBernstein L.P. MON STOCK - ------------------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN INTER- o AllianceBernstein L.P. MEDIATE GOVERNMENT SECURITIES - ------------------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN INTER- o AllianceBernstein L.P. NATIONAL - -------------------------------------------------------------------------------------------
22 Contract features and benefits
- ------------------------------------------------------------------------------------------- EQ Advisors Trust Portfolio Name Objective - ------------------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN LARGE Seeks to achieve long-term growth of capital. CAP GROWTH - ------------------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN QUALITY Seeks to achieve high current income consistent with BOND moderate risk to capital. - ------------------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN SMALL Seeks to achieve long-term growth of capital. CAP GROWTH - ------------------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN VALUE Seeks to achieve capital appreciation. - ------------------------------------------------------------------------------------------- EQ/ARIEL APPRECIATION II Seeks to achieve long-term capital appreciation. - ------------------------------------------------------------------------------------------- EQ/AXA ROSENBERG VALUE Seeks to increase value through bull markets and bear LONG/SHORT EQUITY markets using strategies that are designed to limit expo- sure to general equity market risk. - ------------------------------------------------------------------------------------------- EQ/BLACKROCK BASIC VALUE Seeks to achieve capital appreciation and secondarily, EQUITY income. - ------------------------------------------------------------------------------------------- EQ/BLACKROCK INTERNATIONAL Seeks to provide current income and long-term growth of VALUE income, accompanied by growth of capital. - ------------------------------------------------------------------------------------------- EQ/BOSTON ADVISORS EQUITY Seeks to achieve a combination of growth and income to INCOME achieve an above-average and consistent total return. - ------------------------------------------------------------------------------------------- EQ/CALVERT SOCIALLY Seeks to achieve long-term capital appreciation. RESPONSIBLE - ------------------------------------------------------------------------------------------- EQ/CAPITAL GUARDIAN GROWTH Seeks to achieve long-term growth of capital. - ------------------------------------------------------------------------------------------- EQ/CAPITAL GUARDIAN Seeks to achieve long-term growth of capital. RESEARCH - ------------------------------------------------------------------------------------------- EQ/CAYWOOD-SCHOLL HIGH Seeks to maximize current income. YIELD BOND - ------------------------------------------------------------------------------------------- EQ/DAVIS NEW YORK VENTURE Seeks to achieve long-term growth of capital. - ------------------------------------------------------------------------------------------- EQ/EQUITY 500 INDEX Seeks to achieve a total return before expenses that approximates the total return performance of the S&P 500 Index, including reinvestment of dividends, at a risk level consistent with that of the S&P 500 Index. - ------------------------------------------------------------------------------------------- EQ/EVERGREEN INTERNATIONAL Seeks to achieve capital growth and current income. BOND - ------------------------------------------------------------------------------------------- EQ/EVERGREEN OMEGA Seeks to achieve long-term capital growth. - ------------------------------------------------------------------------------------------- EQ/FI MID CAP Seeks to achieve long-term growth of capital. - ------------------------------------------------------------------------------------------- EQ/FRANKLIN INCOME Seeks to maximize income while maintaining prospects for capital appreciation. - ------------------------------------------------------------------------------------------- EQ/FRANKLIN SMALL CAP VALUE Seeks to achieve long-term total return. - ------------------------------------------------------------------------------------------- EQ/FRANKLIN TEMPLETON Primarily seeks capital appreciation and secondarily seeks FOUNDING STRATEGY income. - ------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------- EQ Advisors Trust Investment Manager (or Sub-Adviser(s), as Portfolio Name applicable) - ------------------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN LARGE o AllianceBernstein L.P. CAP GROWTH - ------------------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN QUALITY o AllianceBernstein L.P. BOND - ------------------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN SMALL o AllianceBernstein L.P. CAP GROWTH - ------------------------------------------------------------------------------------------- EQ/ALLIANCEBERNSTEIN VALUE o AllianceBernstein L.P. - ------------------------------------------------------------------------------------------- EQ/ARIEL APPRECIATION II o Ariel Capital Management, LLC - ------------------------------------------------------------------------------------------- EQ/AXA ROSENBERG VALUE o AXA Rosenberg Investment Management LLC LONG/SHORT EQUITY - ------------------------------------------------------------------------------------------- EQ/BLACKROCK BASIC VALUE o BlackRock Investment Management, LLC EQUITY - ------------------------------------------------------------------------------------------- EQ/BLACKROCK INTERNATIONAL o BlackRock Investment Management VALUE International Limited - ------------------------------------------------------------------------------------------- EQ/BOSTON ADVISORS EQUITY o Boston Advisors, LLC INCOME - ------------------------------------------------------------------------------------------- EQ/CALVERT SOCIALLY o Calvert Asset Management Company, Inc. RESPONSIBLE o Bridgeway Capital Management, Inc. - ------------------------------------------------------------------------------------------- EQ/CAPITAL GUARDIAN GROWTH o Capital Guardian Trust Company - ------------------------------------------------------------------------------------------- EQ/CAPITAL GUARDIAN o Capital Guardian Trust Company RESEARCH - ------------------------------------------------------------------------------------------- EQ/CAYWOOD-SCHOLL HIGH o Caywood-Scholl Capital Management YIELD BOND - ------------------------------------------------------------------------------------------- EQ/DAVIS NEW YORK VENTURE o Davis Selected Advisers, L.P. - ------------------------------------------------------------------------------------------- EQ/EQUITY 500 INDEX o AllianceBernstein L.P. - ------------------------------------------------------------------------------------------- EQ/EVERGREEN INTERNATIONAL o Evergreen Investment Management BOND Company, LLC o First International Advisors, LLC (dba "Evergreen International") - ------------------------------------------------------------------------------------------- EQ/EVERGREEN OMEGA o Evergreen Investment Management Company, LLC - ------------------------------------------------------------------------------------------- EQ/FI MID CAP o Fidelity Management & Research Company - ------------------------------------------------------------------------------------------- EQ/FRANKLIN INCOME o Franklin Advisers, Inc. - ------------------------------------------------------------------------------------------- EQ/FRANKLIN SMALL CAP VALUE o Franklin Advisory Services, LLC - ------------------------------------------------------------------------------------------- EQ/FRANKLIN TEMPLETON o AXA Equitable FOUNDING STRATEGY - -------------------------------------------------------------------------------------------
Contract features and benefits 23
- ------------------------------------------------------------------------------------------- EQ Advisors Trust Portfolio Name Objective - ------------------------------------------------------------------------------------------- EQ/GAMCO MERGERS AND Seeks to achieve capital appreciation. ACQUISITIONS - ------------------------------------------------------------------------------------------- EQ/GAMCO SMALL COMPANY Seeks to maximize capital appreciation. VALUE - ------------------------------------------------------------------------------------------- EQ/INTERNATIONAL CORE PLUS Seeks to achieve long-term growth of capital. - ------------------------------------------------------------------------------------------- EQ/INTERNATIONAL GROWTH Seeks to achieve capital appreciation. - ------------------------------------------------------------------------------------------- EQ/JPMORGAN CORE BOND Seeks to provide a high total return consistent with mod- erate risk to capital and maintenance of liquidity. - ------------------------------------------------------------------------------------------- EQ/JPMORGAN VALUE Seeks to achieve long-term capital appreciation. OPPORTUNITIES - ------------------------------------------------------------------------------------------- EQ/LARGE CAP CORE PLUS Seeks to achieve long-term growth of capital with a sec- ondary objective to seek reasonable current income. For purposes of this Portfolio, the words "reasonable current income" mean moderate income. - ------------------------------------------------------------------------------------------- EQ/LARGE CAP GROWTH PLUS Seeks to provide long-term capital growth - ------------------------------------------------------------------------------------------- EQ/LEGG MASON VALUE EQUITY Seeks to achieve long-term growth of capital. - ------------------------------------------------------------------------------------------- EQ/LONG TERM BOND Seeks to maximize income and capital appreciation through investment in long-maturity debt obligations. - ------------------------------------------------------------------------------------------- EQ/LORD ABBETT GROWTH AND Seeks to achieve capital appreciation and growth of INCOME income without excessive fluctuation in market value. - ------------------------------------------------------------------------------------------- EQ/LORD ABBETT LARGE CAP Seeks to achieve capital appreciation and growth of CORE income with reasonable risk. - ------------------------------------------------------------------------------------------- EQ/LORD ABBETT MID CAP VALUE Seeks to achieve capital appreciation. - ------------------------------------------------------------------------------------------- EQ/MARSICO FOCUS Seeks to achieve long-term growth of capital. - ------------------------------------------------------------------------------------------- EQ/MID CAP VALUE PLUS Seeks to achieve long-term capital appreciation. - ------------------------------------------------------------------------------------------- EQ/MONEY MARKET Seeks to obtain a high level of current income, preserve its assets and maintain liquidity. - ------------------------------------------------------------------------------------------- EQ/MONTAG & CALDWELL Seeks to achieve capital appreciation. GROWTH - ------------------------------------------------------------------------------------------- EQ/MUTUAL SHARES Seeks to achieve capital appreciation, which may occa- sionally be short-term, and secondarily, income. - ------------------------------------------------------------------------------------------- EQ/OPPENHEIMER GLOBAL Seeks to achieve capital appreciation. - ------------------------------------------------------------------------------------------- EQ/OPPENHEIMER MAIN STREET Seeks to achieve long-term capital appreciation. OPPORTUNITY - ------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------- EQ Advisors Trust Investment Manager (or Sub-Adviser(s), as Portfolio Name applicable) - ------------------------------------------------------------------------------------------- EQ/GAMCO MERGERS AND o GAMCO Asset Management Inc. ACQUISITIONS - ------------------------------------------------------------------------------------------- EQ/GAMCO SMALL COMPANY o GAMCO Asset Management Inc. VALUE - ------------------------------------------------------------------------------------------- EQ/INTERNATIONAL CORE PLUS o AXA Equitable o Mellon Capital Management Corporation o Wentworth Hauser and Violich, Inc. - ------------------------------------------------------------------------------------------- EQ/INTERNATIONAL GROWTH o MFS Investment Management, Inc. - ------------------------------------------------------------------------------------------- EQ/JPMORGAN CORE BOND o JPMorgan Investment Management Inc. - ------------------------------------------------------------------------------------------- EQ/JPMORGAN VALUE o JPMorgan Investment Management Inc. OPPORTUNITIES - ------------------------------------------------------------------------------------------- EQ/LARGE CAP CORE PLUS o AXA Equitable o Institutional Capital LLC o Mellon Capital Management Corporation - ------------------------------------------------------------------------------------------- EQ/LARGE CAP GROWTH PLUS o AXA Equitable o Marsico Capital Management, LLC o Mellon Capital Management Corporation - ------------------------------------------------------------------------------------------- EQ/LEGG MASON VALUE EQUITY o Legg Mason Capital Management, Inc. - ------------------------------------------------------------------------------------------- EQ/LONG TERM BOND o BlackRock Financial Management, Inc. - ------------------------------------------------------------------------------------------- EQ/LORD ABBETT GROWTH AND o Lord, Abbett & Co. LLC INCOME - ------------------------------------------------------------------------------------------- EQ/LORD ABBETT LARGE CAP o Lord, Abbett & Co. LLC CORE - ------------------------------------------------------------------------------------------- EQ/LORD ABBETT MID CAP VALUE o Lord, Abbett & Co. LLC - ------------------------------------------------------------------------------------------- EQ/MARSICO FOCUS o Marsico Capital Management, LLC - ------------------------------------------------------------------------------------------- EQ/MID CAP VALUE PLUS o AXA Equitable o Mellon Capital Management Corporation o Wellington Management Company LLP - ------------------------------------------------------------------------------------------- EQ/MONEY MARKET o The Dreyfus Corporation - ------------------------------------------------------------------------------------------- EQ/MONTAG & CALDWELL o Montag & Caldwell, Inc. GROWTH - ------------------------------------------------------------------------------------------- EQ/MUTUAL SHARES o Franklin Mutual Advisers, LLC - ------------------------------------------------------------------------------------------- EQ/OPPENHEIMER GLOBAL o OppenheimerFunds, Inc. - ------------------------------------------------------------------------------------------- EQ/OPPENHEIMER MAIN STREET o OppenheimerFunds, Inc. OPPORTUNITY - -------------------------------------------------------------------------------------------
24 Contract features and benefits
- ------------------------------------------------------------------------------------------- EQ Advisors Trust Portfolio Name Objective - -------------------------------------------------------------------------------------------- EQ/OPPENHEIMER MAIN STREET Seeks to achieve capital appreciation. SMALL CAP - -------------------------------------------------------------------------------------------- EQ/PIMCO REAL RETURN Seeks to achieve maximum real return consistent with preservation of real capital and prudent investment man- agement. - -------------------------------------------------------------------------------------------- EQ/SHORT DURATION BOND Seeks to achieve current income with reduced volatility of principal. - -------------------------------------------------------------------------------------------- EQ/SMALL COMPANY INDEX Seeks to replicate as closely as possible (before the deduction of Portfolio expenses) the total return of the Russell 2000 Index. - -------------------------------------------------------------------------------------------- EQ/T. ROWE PRICE GROWTH Seeks to achieve long-term capital appreciation and STOCK secondarily, income. - -------------------------------------------------------------------------------------------- EQ/TEMPLETON GROWTH Seeks to achieve long-term capital growth. - -------------------------------------------------------------------------------------------- EQ/UBS GROWTH AND INCOME Seeks to achieve total return through capital appreciation with income as a secondary consideration. - -------------------------------------------------------------------------------------------- EQ/VAN KAMPEN COMSTOCK Seeks to achieve capital growth and income. - -------------------------------------------------------------------------------------------- EQ/VAN KAMPEN EMERGING Seeks to achieve long-term capital appreciation. MARKETS EQUITY - -------------------------------------------------------------------------------------------- EQ/VAN KAMPEN MID CAP Seeks to achieve capital growth. GROWTH - -------------------------------------------------------------------------------------------- EQ/VAN KAMPEN REAL ESTATE Seeks to provide above average current income and long- term capital appreciation. - -------------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------------- EQ Advisors Trust Investment Manager (or Sub-Adviser(s), as Portfolio Name applicable) - -------------------------------------------------------------------------------------------- EQ/OPPENHEIMER MAIN STREET o OppenheimerFunds, Inc. SMALL CAP - -------------------------------------------------------------------------------------------- EQ/PIMCO REAL RETURN o Pacific Investment Management Company, LLC - -------------------------------------------------------------------------------------------- EQ/SHORT DURATION BOND o BlackRock Financial Management, Inc. - -------------------------------------------------------------------------------------------- EQ/SMALL COMPANY INDEX o AllianceBernstein L.P. - -------------------------------------------------------------------------------------------- EQ/T. ROWE PRICE GROWTH o T. Rowe Price Associates, Inc. STOCK - -------------------------------------------------------------------------------------------- EQ/TEMPLETON GROWTH o Templeton Global Advisors Limited - -------------------------------------------------------------------------------------------- EQ/UBS GROWTH AND INCOME o UBS Global Asset Management (Americas) Inc. - -------------------------------------------------------------------------------------------- EQ/VAN KAMPEN COMSTOCK o Morgan Stanley Investment Management Inc. - -------------------------------------------------------------------------------------------- EQ/VAN KAMPEN EMERGING o Morgan Stanley Investment Management Inc. MARKETS EQUITY - -------------------------------------------------------------------------------------------- EQ/VAN KAMPEN MID CAP o Morgan Stanley Investment Management Inc. GROWTH - -------------------------------------------------------------------------------------------- EQ/VAN KAMPEN REAL ESTATE o Morgan Stanley Investment Management Inc. - --------------------------------------------------------------------------------------------
You should consider the investment objectives, risks and charges and expenses of the portfolios carefully before investing. The prospectuses for the Trusts contain this and other important information about the portfolios. The prospectuses should be read carefully before investing. Contract features and benefits 25 FIXED MATURITY OPTIONS We offer fixed maturity options with maturity dates generally ranging from one to ten years. We will not accept allocations to a fixed maturity option if on the date the contribution or transfer is to be applied the rate to maturity is 3%. This means that at points in time there may be no fixed maturity options available. You can allocate your contributions to one or more of these fixed maturity options. However, you may not allocate more than one contribution to any one fixed maturity option. These amounts become part of a non-unitized separate account. They will accumulate interest at the "rate to maturity" for each fixed maturity option. The total amount you allocate to and accumulate in each fixed maturity option is called the "fixed maturity amount." Please see Appendix IV later in this prospectus for state variations. - -------------------------------------------------------------------------------- Fixed maturity options generally range from one to ten years to maturity. - -------------------------------------------------------------------------------- The rate to maturity you will receive for each fixed maturity option is the rate to maturity in effect for new contributions allocated to that fixed maturity option on the date we apply your contribution. On the maturity date of a fixed maturity option, your fixed maturity amount, assuming you have not made any withdrawals or transfers, will equal your contribution to that fixed maturity option plus interest, at the rate to maturity for that contribution. This is the fixed maturity option's "maturity value." Before maturity, the current value we will report for your fixed maturity amount will reflect a market value adjustment. Your current value will reflect the market value adjustment that we would make if you were to withdraw all of your fixed maturity amounts on the date of the report. We call this your "market adjusted amount." FIXED MATURITY OPTIONS AND MATURITY DATES. As of May 1, we currently offer fixed maturity options ending on June 15th for maturity years ranging from one through ten. Not all of the fixed maturity options will be available for annuitants ages 76 and above. See "Allocating your contributions" below. As fixed maturity options expire, we expect to add maturity years so that generally 10 fixed maturity options are available at any time. We will not accept allocations to a fixed maturity option if on the date the contribution is to be applied: o you previously allocated a contribution or made a transfer to the same fixed maturity option; or o the rate to maturity is 3%; or o the fixed maturity option's maturity date is within 45 days; or o the fixed maturity option's maturity date is later than the date annuity payments are to begin. YOUR CHOICES AT THE MATURITY DATE. We will notify you at least 45 days before each of your fixed maturity options is scheduled to mature. At that time, you may choose to have one of the following take place on the maturity date, as long as none of the conditions listed above or in "Allocating your contributions" below would apply: (a) transfer the maturity value into another available fixed maturity option, or into any of the variable investment options; or (b) withdraw the maturity value (there may be a withdrawal charge). If we do not receive your choice on or before the fixed maturity option's maturity date, we will automatically transfer your maturity value into the next available fixed maturity option (or another investment option if we are required to do so by any state regulation). As of February 15, 2008 the next available maturity date was June 15, 2013 (see "About our fixed maturity options" in "More information" later in this prospectus). We may change our procedures in the future. MARKET VALUE ADJUSTMENT. If you make any withdrawals (including transfers, surrender or termination of your contract, or when we make deductions for charges) from a fixed maturity option before it matures, we will make a market value adjustment, which will increase or decrease any fixed maturity amount you have in that fixed maturity option. The amount of the adjustment will depend on two factors: (a) the difference between the rate to maturity that applies to the amount being withdrawn and the rate to maturity in effect at that time for new allocations to that same fixed maturity option, and (b) the length of time remaining until the maturity date. In general, if interest rates rise from the time that you originally allocate an amount to a fixed maturity option to the time that you take a withdrawal, the market value adjustment will be negative. Likewise, if interest rates drop at the end of that time, the market value adjustment will be positive. Also, the amount of the market value adjustment, either up or down, will be greater the longer the time remaining until the fixed maturity option's maturity date. Therefore, it is possible that the market value adjustment could greatly reduce your value in the fixed maturity options, particularly in the fixed maturity options with later maturity dates. We provide an illustration of the market adjusted amount of specified maturity values, an explanation of how we calculate the market value adjustment, and information concerning our general account and investments purchased with amounts allocated to the fixed maturity options, in "More information" later in this prospectus. Appendix III at the end of this prospectus provides an example of how the market value adjustment is calculated. ALLOCATING YOUR CONTRIBUTIONS You may choose from among two ways to allocate your contributions: self-directed and principal assurance. SELF-DIRECTED ALLOCATION You may allocate your contributions to one or more, or all of the investment options. However, you may not allocate more than one contribution to any one fixed maturity option. If the annuitant is age 76 or older, you may only allocate contributions to fixed maturity options with maturities of five years or less. Allocations must be in whole percentages and you may change your allocation percentages at any time. However, the total of your allocations must equal 100%. Once your contributions are allocated to the investment options they become part of your account value. We discuss account value in "Determining your contract's value" later in this prospectus. PRINCIPAL ASSURANCE ALLOCATION Under this allocation program, you select a fixed maturity option and we specify the portion of your initial contribution to be allocated to 26 Contract features and benefits that fixed maturity option in an amount that will cause the maturity value to equal the amount of your entire initial contribution on the fixed maturity option's maturity date. The maturity date you select generally may not be later than 10 years, or earlier than 7 years from your contract date. You allocate the rest of your contribution to the variable investment options however you choose. For example, if your initial contribution is $10,000, and on February 15, 2008 you chose the fixed maturity option with a maturity date of June 15, 2017, since the rate to maturity was 4.45% on February 15, 2008, we would have allocated $6,660 to that fixed maturity option and the balance to your choice of variable investment options. On the maturity date your value in the fixed maturity option would be $10,000. The principal assurance allocation is only available for annuitant ages 75 or younger when the contract is issued. If you are purchasing an EQUI-VEST(SM) Express traditional IRA contract, before you select a maturity year that would extend beyond the year in which you will reach age 70-1/2, you should consider whether your value in the variable investment options, or your other traditional IRA funds, are sufficient to meet your required minimum distributions. See "Tax information" later in this prospectus. The contract is between you and AXA Equitable. The contract is not an investment advisory account, and AXA Equitable is not providing any investment advice or managing the allocations under your contract. In the absence of a specific written arrangement to the contrary, you, as the owner of the contract, have the sole authority to make investment allocations and other decisions under the contract. Your AXA Advisors' financial professional is acting as a broker-dealer registered representative, and is not authorized to act as an investment advisor or to manage the allocations under your contract. If your financial professional is a registered representative with a broker-dealer other than AXA Advisors, you should speak with him/her regarding any different arrangements that may apply. YOUR RIGHT TO CANCEL WITHIN A CERTAIN NUMBER OF DAYS If, for any reason, you are not satisfied with your contract, you may return it to us for a refund. To exercise this cancellation right, you must mail the contract directly to our processing office within 10 days after you receive it. If state law requires, this "free look" period may be longer. For contributions allocated to the variable investment options, your refund will equal your contributions, reflecting any investment gain or loss that also reflects the daily charges we deduct. For contributions allocated to the fixed maturity options, your refund will equal the amount of the contribution allocated to the fixed maturity options reflecting any positive or negative market value adjustments. Some states require that we refund the full amount of your contribution (not including any investment gain or loss, interest, or market value adjustment). For an IRA contract returned to us within seven days after you receive it, we are required to refund the full amount of your contribution. We may require that you wait six months before you apply for a contract with us again if: o you cancel your contract during the free look period; or o you change your mind before you receive your contract whether we have received your contribution or not. Also, if you fully or partially convert an existing traditional IRA contract to a Roth IRA contract, you may cancel your Roth IRA contract and return to a traditional IRA contract. Our processing office, or your financial professional, can provide you with the cancellation instructions. Ask for the form entitled "EQUI-VEST(SM) Roth IRA Re-Characterization Form." In addition to the cancellation right described above, you have the right to surrender your contract, rather than cancel it. Please see "Surrender of your contract to receive its cash value," later in this prospectus. Surrendering your contract may yield results different than canceling your contract, including a greater potential for taxable income. In some cases, your cash value upon surrender may be greater than your contributions to the contract. Please see "Tax information," later in this Prospectus for possible consequences of cancelling your contract. INHERITED IRA BENEFICIARY CONTINUATION CONTRACT This contract is available to an individual beneficiary of a traditional IRA or a Roth IRA where the deceased owner held the individual retirement account or annuity (or Roth individual retirement account or annuity) with an insurance company or financial institution other than AXA Equitable. The purpose of the inherited IRA beneficiary continuation contract is to permit the beneficiary to change the funding vehicle that the deceased owner selected ("original IRA") while taking the required minimum distribution payments that must be made to the beneficiary after the deceased owner's death. See the discussion of required minimum distributions under "Tax Information." This contract is intended only for beneficiaries who want to take payments at least annually over their life expectancy. These payments generally must begin (or must have begun) no later than December 31 of the calendar year following the year the deceased owner died. This contract is not suitable for beneficiaries electing the "5-year rule." See "Beneficiary continuation option for traditional IRA and Roth IRA contracts" in "Payment of the death benefit" later in this prospectus. You should discuss with your tax adviser your own personal situation. The Inherited traditional IRA is also available to non-spousal beneficiaries of deceased plan participants in qualified plans, 403(b) plans and governmental employer 457(b) plans ("Applicable Plan(s)"). In this discussion, unless otherwise indicated, references to "deceased owner" include "deceased plan participant"; references to "original IRA" include "the deceased plan participant's interest or benefit under the Applicable Plan", and references to "individual beneficiary of a traditional IRA" include "individual non-spousal beneficiary under an Applicable Plan." The inherited IRA beneficiary continuation contract can only be purchased by a direct transfer of the beneficiary's interest under the deceased owner's original IRA. In the case of a non-spousal beneficiary under a deceased plan participant's Applicable Plan, the Inherited traditional IRA can only be purchased by a direct rollover of the death benefit under the Applicable Plan. The owner of the inherited IRA beneficiary continuation contract is the individual who is the Contract features and benefits 27 beneficiary of the original IRA. (Certain trusts with only individual beneficiaries will be treated as individuals for this purpose). The contract must also contain the name of the deceased owner. In this discussion, "you" refers to the owner of the inherited IRA beneficiary continuation contract. The inherited IRA beneficiary continuation contract can be purchased whether or not the deceased owner had begun taking required minimum distribution payments during his or her life from the original IRA or whether you had already begun taking required minimum distribution payments of your interest as a beneficiary from the deceased owner's original IRA. You should discuss with your own tax adviser when payments must begin or must be made. Under the inherited IRA beneficiary continuation contract: o You must receive payments at least annually (but can elect to receive payments monthly or quarterly). Payments are generally made over your life expectancy determined in the calendar year after the deceased owner's death and determined on a term certain basis. o The beneficiary of the original IRA will be the annuitant under the inherited IRA beneficiary continuation contract. In the case where the beneficiary is a "see-through trust," the oldest beneficiary of the trust will be the annuitant. o An inherited IRA beneficiary continuation contract is not available for annuitants over age 70. o The initial contribution must be a direct transfer from the deceased owner's original IRA and must be at least $5,000. o Additional contributions of at least $1,000 are permitted, but must be direct transfers of your interest as a beneficiary from another IRA with a financial institution other than AXA Equitable, where the deceased owner is the same as under the original IRA contract. o A non-spousal beneficiary under an Applicable Plan cannot make additional contributions to an Inherited traditional IRA contract. o You may make transfers among the investment options. o You may choose at any time to withdraw all or a portion of the account value. Any partial withdrawal must be at least $300. Withdrawal charges will apply as described under "Withdrawal charge" in "Charges and expenses," later in this prospectus. o The following features mentioned in the prospectus are not available under the inherited IRA beneficiary continuation contract: successor owner/annuitant, automatic investment program and systematic withdrawals. o If you die, we will pay to a beneficiary that you choose the greater of the account value or the minimum death benefit. o Upon your death, your beneficiary has the option to continue taking required minimum distributions based on your remaining life expectancy or to receive any remaining interest in the contract in a lump sum. The option elected will be processed when we receive satisfactory proof of death, any required instructions for the method of payment and any required information and forms necessary to effect payment. If your beneficiary elects to continue to take distributions, we will increase the account value to equal the minimum death benefit if such death benefit is greater than such account value as of the date we receive satisfactory proof of death and any required instructions, information and forms. The increase in account value will be allocated to the investment options according to the allocation percentages we have on file for your contract. Thereafter, withdrawal charges will no longer apply. 28 Contract features and benefits 2. Determining your contract's value - -------------------------------------------------------------------------------- YOUR ACCOUNT VALUE AND CASH VALUE Your "account value" is the total of the: (i) values you have in the variable investment options and (ii) market adjusted amounts you have in the fixed maturity options. These amounts are subject to certain fees and charges discussed under "Charges and expenses" later in this prospectus. Your contract also has a "cash value." At any time before annuity payments begin, your contract's cash value is equal to the account value less: (i) any applicable withdrawal charges and (ii) the total amount or a pro rata portion of the annual administrative charge. Please see "Surrender of your contract to receive its cash value" in "Accessing your money" later in this prospectus. YOUR CONTRACT'S VALUE IN THE VARIABLE INVESTMENT OPTIONS Each variable investment option invests in shares of a corresponding portfolio. Your value in each variable investment option is measured by "units." The value of your units will increase or decrease as though you had invested it in the corresponding portfolio's shares directly. Your value, however, will be reduced by the amount of the fees and charges that we deduct under the contract. - -------------------------------------------------------------------------------- Units measure your value in each variable investment option. - -------------------------------------------------------------------------------- The unit value for each variable investment option depends on the investment performance of that option minus daily charges for mortality and expense risks and other expenses. On any day, your value in any variable investment option equals the number of units credited to that option, adjusted for any units purchased for or deducted from your contract under that option, multiplied by that day's value for one unit. The number of your contract units in any variable investment option does not change unless they are: (i) increased to reflect additional contributions; (ii) decreased to reflect a withdrawal (plus applicable withdrawal charges); or (iii) increased to reflect a transfer into, or decreased to reflect a transfer out of a variable investment option. In addition, when we deduct the annual administrative charge or third-party transfer or exchange charge, we will reduce the number of units credited to your contract. A description of how unit values are calculated is found in the SAI. YOUR CONTRACT'S VALUE IN THE FIXED MATURITY OPTIONS Your value in each fixed maturity option at any time before the maturity date is the market adjusted amount in each option, which reflects withdrawals out of the option and charges we deduct. This is equivalent to your fixed maturity amount increased or decreased by the market value adjustment. Your value, therefore, may be higher or lower than your contributions (less withdrawals) accumulated at the rate to maturity. At the maturity date, your value in a fixed maturity option will equal its maturity value, provided there have been no withdrawals or transfers. Determining your contract's value 29 3. Transferring your money among investment options - -------------------------------------------------------------------------------- TRANSFERRING YOUR ACCOUNT VALUE At any time before the date annuity payments are to begin, you can transfer some or all of your account value among the investment options, subject to the following: o you must transfer at least $300 of account value or, if less, the entire amount in the investment option. We may waive the $300 requirement. o you may not transfer to a fixed maturity option in which you already have value. o You may not transfer to a fixed maturity option that has a rate to maturity of 3%. o if the annuitant is age 76 or older, you must limit your transfers to fixed maturity options to those with maturities of five years or less. As of February 15, 2008, not all maturities were available. o you may not transfer to a fixed maturity option if its maturity date is later than the date annuity payments are to begin. o if you make transfers out of a fixed maturity option other than at its maturity date, the transfer will cause a market value adjustment. Upon advance notice to you, we may change or establish additional restrictions on transfers among the investment options, including limitations on the number, frequency, or dollar amount of transfers. A transfer request does not change your percentages for allocating current or future contributions among the investment options. Our current transfer restrictions are set forth in the "Disruptive transfer activity" section below. You may request a transfer in writing, or by telephone using TOPS or on line using EQAccess. You must send in all signed written requests directly to our processing office. Transfer requests should specify: (1) the contract number, (2) the dollar amounts to be transferred, and (3) the investment options to and from which you are transferring. We will confirm all transfers in writing. Please see "Allocating your contributions" in "Contract features and benefits" for more information about your role in managing your allocations. DISRUPTIVE TRANSFER ACTIVITY You should note that the contract is not designed for professional "market timing" organizations, or other organizations or individuals engaging in a market timing strategy. The contract is not designed to accommodate programmed transfers, frequent transfers or transfers that are large in relation to the total assets of the underlying portfolio. Frequent transfers, including market timing and other program trading or short-term trading strategies, may be disruptive to the underlying portfolios in which the variable investment options invest. Disruptive transfer activity may adversely affect performance and the interests of long-term investors by requiring a portfolio to maintain larger amounts of cash or to liquidate portfolio holdings at a disadvantageous time or price. For example, when market timing occurs, a portfolio may have to sell its holdings to have the cash necessary to redeem the market timer's investment. This can happen when it is not advantageous to sell any securities, so the portfolio's performance may be hurt. When large dollar amounts are involved, market timing can also make it difficult to use long-term investment strategies because a portfolio cannot predict how much cash it will have to invest. In addition, disruptive transfers or purchases and redemptions of portfolio investments may impede efficient portfolio management and impose increased transaction costs, such as brokerage costs, by requiring the portfolio manager to effect more frequent purchases and sales of portfolio securities. Similarly, a portfolio may bear increased administrative costs as a result of the asset level and investment volatility that accompanies patterns of excessive or short-term trading. Portfolios that invest a significant portion of their assets in foreign securities or the securities of small- and mid-capitalization companies tend to be subject to the risks associated with market timing and short-term trading strategies to a greater extent than portfolios that do not. Securities trading in overseas markets present time zone arbitrage opportunities when events affecting portfolio securities values occur after the close of the overseas market but prior to the close of the U.S. markets. Securities of small- and mid-capitalization companies present arbitrage opportunities because the market for such securities may be less liquid than the market for securities of larger companies, which could result in pricing inefficiencies. Please see the prospectuses for the underlying portfolios for more information on how portfolio shares are priced. We currently use the procedures described below to discourage disruptive transfer activity. You should understand, however, that these procedures are subject to the following limitations: (1) they primarily rely on the policies and procedures implemented by the underlying portfolios; (2) they do not eliminate the possibility that disruptive transfer activity, including market timing, will occur or that portfolio performance will be affected by such activity; and (3) the design of market timing procedures involves inherently subjective judgments, which we seek to make in a fair and reasonable manner consistent with the interests of all contract owners. We offer investment options with underlying portfolios that are part of AXA Premier VIP Trust and EQ Advisors Trust (together, the "trusts"). The trusts have adopted policies and procedures regarding disruptive transfer activity. They discourage frequent purchases and redemptions of portfolio shares and will not make special arrangements to accommodate such transactions. They aggregate inflows and outflows for each portfolio on a daily basis. On any day when a portfolio's net inflows or outflows exceed an established monitoring threshold, the trust obtains from us contract owner trading activity. The trusts currently consider transfers into and out of (or vice versa) the same 30 Transferring your money among investment options variable investment option within a five business day period as potentially disruptive transfer activity. Each trust reserves the right to reject a transfer that it believes, in its sole discretion, is disruptive (or potentially disruptive) to the management of one of its portfolios. Please see the prospectuses for the trusts for more information. When a contract owner is identified as having engaged in a potentially disruptive transfer under the contract for the first time, a letter is sent to the contract owner explaining that there is a policy against disruptive transfer activity and that if such activity continues certain transfer privileges may be eliminated. If and when the contract owner is identified a second time as engaged in potentially disruptive transfer activity under the contract, we currently prohibit the use of voice, fax and automated transaction services. We currently apply such action for the remaining life of each affected contract. We or a trust may change the definition of potentially disruptive transfer activity, the monitoring procedures and thresholds, any notification procedures, and the procedures to restrict this activity. Any new or revised policies and procedures will apply to all contract owners uniformly. We do not permit exceptions to our policies restricting disruptive transfer activity. It is possible that a trust may impose a redemption fee designed to discourage frequent or disruptive trading by contract owners. As of the date of this prospectus, the trusts had not implemented such a fee. If a redemption fee is implemented by a trust, that fee, like any other trust fee, will be borne by the contract owner. Contract owners should note that it is not always possible for us and the underlying trusts to identify and prevent disruptive transfer activity. In addition, because we do not monitor for all frequent trading at the separate account level, contract owners may engage in frequent trading which may not be detected, for example, due to low net inflows or outflows on the particular day(s). Therefore, no assurance can be given that we or the trusts will successfully impose restrictions on all potentially disruptive transfers. Because there is no guarantee that disruptive trading will be stopped, some contract owners may be treated differently than others, resulting in the risk that some contract owners may be able to engage in frequent transfer activity while others will bear the effect of that frequent transfer activity. The potential effects of frequent transfer activity are discussed above. AUTOMATIC TRANSFER OPTIONS GENERAL DOLLAR-COST AVERAGING Dollar-cost averaging allows you to gradually allocate amounts to the variable investment options by periodically transferring approximately the same dollar amount to the variable investment options you select. This will cause you to purchase more units if the unit's value is low and fewer units if the unit's value is high. Therefore, you may get a lower average cost per unit over the long term. This plan of investing, however, does not guarantee that you will earn a profit or be protected against losses. The general dollar-cost averaging feature allows you to have amounts automatically transferred from the EQ/Money Market option to the other variable investment options on a monthly basis. In order to elect the general dollar-cost averaging option you must have a minimum of $2,000 in the EQ/Money Market option on the date we receive your election form at our processing office. You can specify the number of monthly transfers or instruct us to continue to make monthly transfers until all available amounts in the EQ/Money Market option have been transferred out. The minimum amount that we will transfer each month is $50. The maximum amount we will transfer is equal to your value in the EQ/Money Market option at the time the program is elected, divided by the number of transfers scheduled to be made. If, on any transfer date, your value in the EQ/Money Market option is equal to or less than the amount you have elected to have transferred, the entire amount will be transferred. General dollar-cost averaging will then end. You may change the transfer amount once each contract year, or cancel this program at any time. You may not elect dollar-cost averaging if you are participating in the rebalancing program. REBALANCING YOUR ACCOUNT VALUE We currently offer a rebalancing program that you can use to automatically reallocate your account value among the variable investment options. You must tell us: (a) the percentage you want invested in each variable investment option (whole percentages only), and (b) how often you want the rebalancing to occur (quarterly, semiannually, or annually). While your rebalancing program is in effect, we will transfer amounts among each variable investment option so that the percentage of your account value that you specify is invested in each option at the end of each rebalancing date. Your entire account value in the variable investment options must be included in the rebalancing program. - -------------------------------------------------------------------------------- Rebalancing does not assure a profit or protect against loss. You should periodically review your allocation percentages as your needs change. You may want to discuss the rebalancing program with your financial professional and/or financial adviser before electing the program. - -------------------------------------------------------------------------------- You may elect the rebalancing program at any time. To be eligible, you must have at least $5,000 of account value in the variable investment options. You may also change your allocation instructions or cancel the program at any time. If you request a transfer while the rebalancing program is in effect, we will process the transfer as requested; the rebalancing program will remain in effect unless you request that it be cancelled in writing. You may not elect the rebalancing program if you are participating in the dollar-cost averaging program. Rebalancing is not available for amounts you have allocated in the fixed maturity options. Transferring your money among investment options 31 4. Accessing your money - -------------------------------------------------------------------------------- WITHDRAWING YOUR ACCOUNT VALUE You have several ways to withdraw your account value before annuity payments begin. The table below shows the methods available under each type of contract. More information follows the table. For the tax consequences of taking withdrawals, see "Tax information" later in this prospectus.
- -------------------------------------------------------------------------------- Method of Withdrawal - -------------------------------------------------------------------------------- Minimum Contract Partial Systematic distribution - -------------------------------------------------------------------------------- NQ Yes Yes No - -------------------------------------------------------------------------------- traditional IRA Yes Yes Yes - -------------------------------------------------------------------------------- Roth IRA Yes Yes No - --------------------------------------------------------------------------------
PARTIAL WITHDRAWALS (All contracts) You may take partial withdrawals from your account value at any time while the annuitant is living and before annuity payments begin. The minimum amount you may withdraw at any time is $300. If you request a withdrawal that leaves you with an account value of less than $500, we may treat it as a request to surrender the contract for its cash value. See "Surrender of your contract to receive its cash value" below. Partial withdrawals in excess of the 10% free withdrawal amount may be subject to a withdrawal charge (see "10% free withdrawal amount" in "Charges and expenses" later in this prospectus). SYSTEMATIC WITHDRAWALS (All contracts except inherited IRA) If you have at least $20,000 of account value in the variable investment options, you may take systematic withdrawals on a monthly or quarterly basis. The minimum amount you may take for each withdrawal is $250. We will make the withdrawals on any day of the month that you select as long as it is not later than the 28th day of the month. If you do not select a date, your withdrawals will be made on the first day of the month. A check for the amount of the withdrawal will be mailed to you or, if you prefer, we will electronically transfer the money to your checking or savings account. You may withdraw a fixed-dollar amount from the variable investment options. You do not have to maintain a minimum amount. You may elect to have the amount of the withdrawal subtracted from your account value in one of three ways: (1) pro rata from more than one variable investment option (without using up your total value in those options); or (2) pro rata from more than one variable investment option (until your value in those options is used up); or (3) you may specify a dollar amount from only one variable investment option. If you choose this option and the value in that variable investment option drops below the requested amount, the requested withdrawal amount will be taken on a pro rata basis from all the variable investment options in which you have value. You can cancel the systematic withdrawal option at any time. Amounts withdrawn in excess of the 10% free withdrawal amount may be subject to a withdrawal charge. LIFETIME MINIMUM DISTRIBUTION WITHDRAWALS (Traditional IRA contracts -- See "Tax information" later in this prospectus.) We offer our "required minimum distribution (RMD) automatic withdrawal option" to help you meet lifetime required minimum distributions under federal income tax rules. This is not the exclusive way for you to meet these rules. After consultation with your tax adviser, you may decide to compute required minimum distributions yourself and request partial withdrawals. In such a case, a withdrawal charge may apply if your withdrawal exceeds the free withdrawal amount. You may choose instead an annuity payout option. Before electing an account-based withdrawal option, please refer to "Required minimum distributions" under "Individual Retirement Arrangements ("IRAs")" in "Tax information" later in this prospectus. Also, the actuarial present value of additional contract benefits must be added to the account value in calculating required minimum distribution withdrawals, which could increase the amount required to be withdrawn. For this purpose additional annuity contract benefits may include enhanced death benefits. You may elect our RMD automatic withdrawal option in the year in which you reach age 70-1/2 or in any later year. To elect this option, you must have account value in the variable investment options of at least $2,000. The minimum amount we will pay out is $300, or if less, your account value. If your account value is less than $500 after the withdrawal, we may terminate your contract and pay you its cash value. Currently, minimum distribution withdrawal payments will be made annually. Currently, we do not impose a withdrawal charge on minimum distribution withdrawals if you are enrolled in our RMD automatic withdrawal option. The minimum distribution withdrawal will be taken into account in determining if any subsequent withdrawal taken in the same contract year exceeds the 10% free withdrawal amount. - -------------------------------------------------------------------------------- We will send to traditional IRA owners a form outlining the minimum distribution options available in the year you reach age 70-1/2 (if you have not begun your annuity payments before that time). - -------------------------------------------------------------------------------- HOW WITHDRAWALS ARE TAKEN FROM YOUR ACCOUNT VALUE Unless you specify otherwise, we will subtract your withdrawals on a pro rata basis from your value in the investment options. A market value adjustment will apply if withdrawals are taken from the fixed maturity options. 32 Accessing your money AUTOMATIC DEPOSIT SERVICE If you are receiving Required Minimum Distribution payments from a traditional IRA contract, you may use our automatic deposit service. Under this service we will automatically deposit the Required Minimum Distribution payment from your traditional IRA contract directly into an existing EQUI-VEST(SM) NQ or Roth IRA or an existing EQUI-VEST(SM) Express(SM) NQ or Roth IRA contract according to your allocation instructions. Please note that you must have compensation or earned income for the year of the contribution to make regular contributions to Roth IRAs. See "Tax information" later in this prospectus. DEPOSIT OPTION FOR NQ CONTRACTS ONLY You can elect the deposit option for your benefit while you are alive, or for the benefit of your beneficiary. Proceeds from your NQ contract can be deposited with us for a period you select (including one for as long as the annuitant lives). We will hold the amounts in our general account. We will credit interest on the amounts at a guaranteed rate for the specified period. We will pay out the interest on the amount deposited at least once each year. If you elect this option for your benefit, you deposit the amount with us that you would otherwise apply to an annuity payout option. If you elect this option for your beneficiary before the annuitant's death, death benefit proceeds can be left on deposit with us subject to certain restrictions, instead of being paid out to the beneficiary. Other restrictions apply to the deposit option. Your financial professional can provide more information about this option, or you may call our processing office. SURRENDER OF YOUR CONTRACT TO RECEIVE ITS CASH VALUE You may surrender your contract to receive its cash value at any time while the annuitant is living and before you begin to receive annuity payments. For a surrender to be effective, we must receive your written request and your contract at our processing office. We will determine your cash value on the date we receive the required information. All benefits under the contract will terminate as of that date. You may receive your cash value in a single sum payment or apply it to one or more of the annuity payout options. See "Your annuity payout options" below. We will usually pay the cash value within seven calendar days, but we may delay payment as described in "When to expect payments" below. For the tax consequences of surrenders, see "Tax information" later in this prospectus. TERMINATION We may terminate your contract and pay you the cash value if: (1) your account value is less than $500 and you have not made contributions to your contract for a period of three years; or (2) you request a partial withdrawal that reduces your account value to an amount less than $500; or (3) you have not made any contributions within 120 days from your contract date. WHEN TO EXPECT PAYMENTS Generally, we will fulfill requests for payments out of the variable investment options within seven calendar days after the date of the transaction to which the request relates. These transactions may include applying proceeds to a variable annuity payout option, payment of a death benefit, payment of any amount you withdraw (less any withdrawal charge) and, upon surrender or termination, payment of the cash value. We may postpone such payments or applying proceeds for any period during which: (1) the New York Stock Exchange is closed or restricts trading, (2) the SEC determines that an emergency exists as a result of which sales of securities or determination of fair value of a variable investment option's assets is not reasonably practicable, or (3) the SEC, by order, permits us to defer payment to protect people remaining in the variable investment options. We can defer payment of any portion of your values in the fixed maturity options (other than for death benefits) for up to six months while you are living. All payments are made by check and are mailed to you (or the payee named in a tax-free exchange) by U.S. mail, unless you request that we use an express delivery or wire transfer service at your expense. YOUR ANNUITY PAYOUT OPTIONS EQUI-VEST(SM) Express(SM) offers you several choices of annuity payout options. Some enable you to receive fixed annuity payments and others enable you to receive variable annuity payments. You can choose from among the annuity payout options listed below. Restrictions may apply, depending on the type of contract you own and the annuitant's age at contract issue. ANNUITY PAYOUT OPTIONS
- -------------------------------------------------------------------------------- Fixed annuity payout options o Life annuity o Life annuity with period certain o Life annuity with refund certain o Period certain annuity - -------------------------------------------------------------------------------- Variable Immediate Annuity payout o Life annuity (not available in options (as described in a New York) separate prospectus for this o Life annuity with period option) certain - --------------------------------------------------------------------------------
o Life annuity: An annuity that guarantees payments for the rest of the annuitant's life. Payments end with the last monthly payment before the annuitant's death. Because there is no continuation of benefits following the annuitant's death with this payout option, it provides the highest monthly payment of any of the life annuity options, so long as the annuitant is living. o Life annuity with period certain: An annuity that guarantees payments for the rest of the annuitant's life. If the annuitant dies before the end of a selected period of time ("period certain"), payments Accessing your money 33 continue to the beneficiary for the balance of the period certain. The period certain cannot extend beyond the annuitant's life expectancy or the joint life expectancy of the annuitant and the joint annuitant. A life annuity with period certain is the form of annuity under the contracts that you will receive if you do not elect a different payout option. In this case the period certain will be based on the annuitant's age and will not exceed 10 years or the annuitant's life expectancy. o Life annuity with refund certain: An annuity that guarantees payments for the rest of the annuitant's life. If the annuitant dies before the amount applied to purchase the annuity option has been recovered, payments to the beneficiary will continue until that amount has been recovered. This payout option is available only as a fixed annuity. o Period certain annuity: An annuity that guarantees payments for a specific period of time, usually 5, 10, 15, or 20 years. This guarantee period may not exceed the annuitant's life expectancy. This option does not guarantee payments for the rest of the annuitant's life. It does not permit any repayment of the unpaid principal, so you cannot elect to receive part of the payments as a single sum payment with the rest paid in monthly annuity payments. This payout option is available only as a fixed annuity. The life annuity, life annuity with period certain, and life annuity with refund certain payout options are available on a single life or joint and survivor life basis. The joint and survivor life annuity guarantees payments for the rest of the annuitant's life and, after the annuitant's death, payments continue to the survivor. We may offer other payout options not outlined here. Your financial professional can provide details. FIXED ANNUITY PAYOUT OPTIONS With fixed annuities, we guarantee fixed annuity payments that will be based either on the tables of guaranteed annuity purchase factors in your contract or on our then current annuity purchase factors, whichever is more favorable for you. VARIABLE IMMEDIATE ANNUITY PAYOUT OPTIONS Variable Immediate Annuities are described in a separate prospectus that is available from your financial professional. Before you select a Variable Immediate Annuity payout option, you should read the prospectus which contains important information that you should know. Variable Immediate Annuities may be funded through your choice of available variable investment options investing in portfolios of AXA Premier VIP Trust and EQ Advisors Trust. The contract also offers a fixed income annuity payout option that can be elected in combination with the variable income annuity payout option. The amount of each variable income annuity payment will fluctuate, depending upon the performance of the variable investment options, and whether the actual rate of investment return is higher or lower than an assumed base rate. We may offer other payout options not outlined here. Your financial professional can provide details. SELECTING AN ANNUITY PAYOUT OPTION When you select a payout option, we will issue you a separate written agreement confirming your right to receive annuity payments. We require you to return your contract before annuity payments begin. Unless you choose a different payout option, we will pay annuity payments under a life annuity with a period certain of 10 years. You choose whether these payments will be fixed or variable. The contract owner and annuitant must meet the issue age and payment requirements. You can choose the date annuity payments are to begin, but generally it may not be earlier than thirteen months from the EQUI-VEST(SM) Express contract date. You can change the date your annuity payments are to begin anytime before that date as long as you do not choose a date later than the 28th day of any month or later than your contract's maturity date. Your contract's maturity date is the date by which you must either take a lump sum withdrawal or select an annuity payout option. The maturity date is generally the contract date anniversary that follows the annuitant's 90th birthday. Before your annuity payments are to begin, we will notify you by letter that the annuity payout options are available. Once you have selected a payout option and payments have begun, no change can be made other than transfers among the variable investment options if a variable annuity is selected. We currently offer different payment frequencies on certain annuity payout options. In general, the total annual payout will be lower for more frequent payouts (such as monthly) because of the increased administrative expenses associated with more frequent payouts. Also, in general, the longer the period over which we expect to make payments, the lower will be your payment each year. The amount of the annuity payments will depend on: (1) the amount applied to purchase the annuity; (2) the type of annuity chosen, and whether it is fixed or variable; (3) in the case of a life annuity, the annuitant's age (or the annuitant's and joint annuitant's ages); and (4) in certain instances, the sex of the annuitant(s). If, at the time you elect a payout option, the amount to be applied is less than $2,000 or the initial payment under the form elected is less than $20 monthly, we reserve the right to pay the account value in a single sum rather than as payments under the payout option chosen. Please see Appendix IV later in this prospectus for state variations. EQUI-VEST(SM) AT RETIREMENT(SM) If you have a traditional IRA, Roth IRA, QP IRA or NQ contract, you may be eligible to convert your EQUI-VEST(SM) Express(SM) contract to a new EQUI-VEST(SM) At Retirement(SM) contract. EQUI-VEST(SM) At Retirement(SM) is a deferred variable annuity contract that offers living benefits (Guaranteed withdrawal benefit for life or Guaranteed minimum income benefit) and enhanced death benefits. The EQUI-VEST(SM) At Retirement(SM) contract has no withdrawal charges. At the time of conversion, you must meet the following conditions in order to qualify for this conversion offer. You must be between the 34 Accessing your money ages of 55 and 85, your contract must have an account value of at least $50,000, you must purchase at least one of the living or enhanced death benefits, there can be no withdrawal charges applicable under your existing EQUI-VEST(SM) Express(SM) contract, and no rollover/direct transfer contributions can have been made to the existing contract in the two contract years prior to the date you apply for the new contract. The written application for the new EQUI-VEST(SM) At Retirement(SM) contract must be received by our Processing Office no later than the close of business on December 31, 2016 or such later date as we state in writing to you. The EQUI-VEST(SM) At Retirement(SM) contract and its benefits, including the charges for such benefits are described in a separate prospectus. Accessing your money 35 5. Charges and expenses - -------------------------------------------------------------------------------- CHARGES THAT AXA EQUITABLE DEDUCTS We deduct the following charges each day from the net assets of each variable investment option. These charges are reflected in the unit values of each variable investment option: o A mortality and expense risks charge o A charge for other expenses We deduct the following charges from your account value. When we deduct these charges from your variable investment options, we reduce the number of units credited to your contract: o on the last day of the contract year -- an annual administrative charge, if applicable o charge for third-party transfer or exchange o at the time you make certain withdrawals or surrender your contract, or your contract is terminated -- a withdrawal charge o at the time annuity payments are to begin -- charges designed to approximate certain taxes that may be imposed on us, such as premium taxes in your state. An annuity administrative fee may also apply More information about these charges appears below. We will not increase these charges for the life of your contract, except as noted. We may reduce certain charges under group or sponsored arrangements. See "Group or sponsored arrangements" below. To help with your retirement planning, we may offer other annuities with different charges, benefits and features. Please contact your financial professional for more information. CHARGES UNDER THE CONTRACTS MORTALITY AND EXPENSE RISKS CHARGE We deduct a daily charge from the net assets in each variable investment option to compensate us for mortality and expense risks, including the death benefit. The daily charge is currently equivalent to an annual rate of 0.70% (1.65% maximum) of the net assets in each variable investment option. The mortality risk we assume is the risk that annuitants as a group will live for a longer time than our actuarial tables predict. If that happens, we would be paying more in annuity benefits than we planned. We also assume a risk that the mortality assumptions reflected in our guaranteed annuity payment tables, shown in each contract, will differ from actual mortality experience. We may change the actuarial basis for our guaranteed annuity payment tables, but only for new contributions and only at five year intervals from the contract date. Lastly, we assume a mortality risk to the extent that at the time of death, the death benefit exceeds the cash value of the contract. The expense risk we assume is the risk that our expenses in providing the benefits and administering the contracts will be greater than we expect. To the extent that the mortality and expense risk charges are not needed to cover the actual expenses incurred, they may be considered an indirect reimbursement for certain sales and promotional expenses relating to the contracts. CHARGE FOR OTHER EXPENSES We deduct this daily charge from the net assets in each variable investment option. This charge, together with the annual administrative charge described below, is for providing administrative and financial accounting services under the contracts. The daily charge is currently equivalent to an annual rate of 0.25% (0.35% maximum) of net assets in each variable investment option. The combined charge for mortality and expense risks and for other expenses is guaranteed not to exceed a total annual rate of 2.00%. ANNUAL ADMINISTRATIVE CHARGE We deduct an administrative charge from your account value on the last business day of each contract year. We will deduct a pro rata portion of the charge if you surrender your contract, elect an annuity payout option, or the annuitant dies during the contract year. We deduct the charge if your account value on the last business day of the contract year is less than $25,000 under NQ contracts and $20,000 under IRA contracts. If your account value on such date is $25,000 or more for NQ ($20,000 or more for IRA) contracts, we do not deduct the charge. During the first two contract years, the charge is equal to $30 or, if less, 2% of your current account value plus any amount previously withdrawn during the contract year. The charge is currently $30 for contract years three and later. We may increase this charge if our administrative costs rise, but the charge will never exceed $65 annually. The charge is deducted pro rata from the variable investment options. If those amounts are insufficient, we will make up the required amounts from the fixed maturity options to the extent you have value in those options. Charges deducted from the fixed maturity options are considered withdrawals, and as such, will result in a market value adjustment. We currently waive the annual administrative charge that would otherwise be deducted in the next contract year under any individually owned EQUI-VEST(SM) contract/certificate having an account value that, when combined with the account value of other EQUI-VEST(SM) contracts/certificates owned by the same person, exceeds $100,000 in the aggregate (as determined in January of each year). This does not apply to EQUI-VEST(SM) contracts/certificates owned by different members of the same household. We may change or discontinue this practice at any time without prior notice. CHARGE FOR THIRD-PARTY TRANSFER OR EXCHANGE We impose a charge for making a direct transfer of amounts from your contract to a third party, such as in the case of a trustee-to-trustee 36 Charges and expenses transfer for an IRA contract, or if you request that your contract be exchanged for a contract issued by another insurance company. In either case, we will deduct from your account value any withdrawal charge that applies and a charge of $25 for each direct transfer or exchange. We reserve the right to increase this charge to a maximum of $65. WITHDRAWAL CHARGE A withdrawal charge may apply in three circumstances: (1) you make one or more withdrawals during a contract year; (2) you surrender your contract to receive its cash value; or (3) we terminate your contract. The amount of the charge will depend on whether the free withdrawal amount applies, and the availability of one or more exceptions. The withdrawal charge equals a percentage of the contributions withdrawn. The percentage that applies depends on how long each contribution has been invested in the contract. We determine the withdrawal charge separately for each contribution according to the following table:
- -------------------------------------------------------------------------------- Contract year - -------------------------------------------------------------------------------- 1 2 3 4 5 6 7 8+ - -------------------------------------------------------------------------------- Percentage of contribution 7% 6% 5% 4% 3% 2% 1% 0% - --------------------------------------------------------------------------------
For purposes of calculating the withdrawal charge, we treat the contract year in which we receive a contribution as "contract year 1." Amounts withdrawn up to the free withdrawal amount are not considered withdrawal of any contribution. We also treat contributions that have been invested the longest as being withdrawn first. We treat contributions as withdrawn before earnings for purposes of calculating the withdrawal charge. However, federal income tax rules treat earnings under most NQ contracts as withdrawn first. See "Tax information" later in this prospectus. In the case of contract surrender, the free withdrawal amount is taken into account when calculating the amount of the withdrawal. In order to give you the exact dollar amount of the withdrawal you request, we deduct the amount of the withdrawal and the amount of the withdrawal charge from your account value. Any amount deducted to pay withdrawal charges is also subject to that same withdrawal charge percentage. We deduct the withdrawal amount and the withdrawal charge pro rata from the variable investment options. If those amounts are insufficient, we will make up the required amounts from the fixed maturity options. If we deduct all or a portion of the withdrawal charge from the fixed maturity options, a market value adjustment will apply. See "About our fixed maturity options" in "More information" later in this prospectus. The withdrawal charge does not apply in the circumstances described below. 10% FREE WITHDRAWAL AMOUNT. Each contract year you can withdraw up to 10% of your account value without paying a withdrawal charge. The 10% free withdrawal amount is determined using your account value at the time you request a withdrawal, minus any other withdrawals made during the contract year. DEATH AND PURCHASE OF ANNUITY. The withdrawal charge does not apply if: o the annuitant dies and a death benefit is payable to the beneficiary. o we receive a properly completed election form providing for the account value to be used to buy a life contingent annuity or a non-life annuity with a period certain for a term of at least ten years. CHARGES FOR STATE PREMIUM AND OTHER APPLICABLE TAXES We deduct a charge designed to approximate certain taxes that may be imposed on us, such as premium taxes in your state. Generally, we deduct the charge from the amount applied to provide an annuity payout option. The current tax charge that might be imposed varies by jurisdiction and ranges from 0% to 3.5%. VARIABLE IMMEDIATE ANNUITY PAYOUT OPTION ADMINISTRATIVE FEE We deduct a fee of $350 from the amount to be applied to the Variable Immediate Annuity payout option. This option may not be available at the time you elect to begin receiving annuity payouts or it may have a different charge. CHARGES THAT THE TRUSTS DEDUCT The Trusts deduct charges for the following types of fees and expenses: o Management fees ranging from 0.10% to 1.40%. o 12b-1 fees of 0.25%. o Operating expenses, such as trustees' fees, independent auditors' fees, legal counsel fees, administrative service fees, custodian fees, and liability insurance. o Investment-related expenses, such as brokerage commissions. These charges are reflected in the daily share price of each portfolio. Since shares of each Trust are purchased at their net asset value, these fees and expenses are, in effect, passed on to the variable investment options and are reflected in their unit values. Certain portfolios available under the contract in turn invest in shares of other portfolios of AXA Premier VIP Trust and EQ Advisors Trust (collectively, the "underlying portfolios"). The underlying portfolios each have their own fees and expenses, including management fees, operating expenses, and investment related expenses such as brokerage commissions. For more information about these charges, please refer to the prospectuses for the Trusts. GROUP OR SPONSORED ARRANGEMENTS For certain group or sponsored arrangements, we may reduce the withdrawal charge or the mortality and expense risks charge, or change the minimum contribution requirements. We also may change the minimum death benefit or offer variable investment options that invest in shares of a Trust that are not subject to the 12b-1 fee. Group arrangements include those in which a trustee or an employer, for example, purchases contracts covering a group of individuals on a group basis. Group arrangements are not available for traditional IRA and Roth IRA contracts. Sponsored arrangements include those in which an employer allows us to sell contracts to its employees or retirees on an individual basis. Our costs for sales, administration, and mortality generally vary with the size and stability of the group or sponsoring organization, among other factors. We take all these factors into account when reducing Charges and expenses 37 charges. To qualify for reduced charges, a group or sponsored arrangement must meet certain requirements, such as requirements for size and number of years in existence. Group or sponsored arrangements that have been set up solely to buy contracts or that have been in existence less than six months will not qualify for reduced charges. We also may establish different rates to maturity for the fixed maturity options under different classes of contracts for group or sponsored arrangements. We will make these and any similar reductions according to our rules in effect when we approve a contract for issue. We may change these rules from time to time. Any variation will reflect differences in costs or services and will not be unfairly discriminatory. Group or sponsored arrangements may be governed by federal income tax rules, the Employee Retirement Income Security Act of 1974, or both. We make no representations with regard to the impact of these and other applicable laws on such programs. We recommend that employers, trustees, and others purchasing or making contracts available for purchase under such programs seek the advice of their own legal and benefits advisers. OTHER DISTRIBUTION ARRANGEMENTS We may reduce or eliminate charges when sales are made in a manner that results in savings of sales and administrative expenses, such as sales through persons who are compensated by clients for recommending investments and who receive no commission or reduced commissions in connection with the sale of the contracts. We will not permit a reduction or elimination of charges where it will be unfairly discriminatory. 38 Charges and expenses 6. Payment of death benefit - -------------------------------------------------------------------------------- YOUR BENEFICIARY AND PAYMENT OF BENEFIT You designate your beneficiary when you apply for your contract. You may change your beneficiary at any time. The change will be effective on the date the written request for the change is received in our processing office. We are not responsible for any beneficiary change request that we do not receive. We will send you a written confirmation when we receive your request. Under jointly owned contracts, the surviving owner is considered the beneficiary, and will take the place of any other beneficiary. DEATH BENEFIT The death benefit is equal to the greater of (i) the account value (without adjustment for any otherwise applicable negative market value adjustment) as of the date we receive satisfactory proof of the annuitant's death, any required instructions for the method of payment, information and forms necessary to effect payment or (ii) the "minimum death benefit." The minimum death benefit is equal to your total contributions, adjusted for withdrawals and any withdrawal charges, and any taxes that apply. HOW WITHDRAWALS AFFECT THE MINIMUM DEATH BENEFIT Depending upon when and the state where your contract is issued, each withdrawal you make will reduce the amount of your current minimum death benefit on a pro rata basis. Reduction on a pro rata basis means that we calculate the percentage of your current account value that is being withdrawn and we reduce your current minimum death benefit by that same percentage. For example, if your account value is $30,000, and you withdraw $12,000 you have withdrawn 40% of your account value. If your minimum death benefit was $40,000 before the withdrawal, it would be reduced by $16,000 ($40,000 x .40) and your new minimum death benefit after the withdrawal would be $24,000 ($40,000-$16,000). Check with your financial professional. EFFECT OF THE ANNUITANT'S DEATH If the annuitant dies before the annuity payments begin, we will pay the death benefit to your beneficiary. Generally, the death of the annuitant terminates the contract. However, if you are both the owner and the annuitant and your spouse is the sole primary beneficiary or the joint owner, the contract can be continued as discussed below under "Successor owner and annuitant." Only a spouse who is the sole primary beneficiary can be successor owner/annuitant. The determination of spousal status is made under applicable state law; however, in the event of a conflict between federal and state law, we follow federal rules. A beneficiary may be able to have limited ownership as discussed under "Beneficiary continuation option" below. SUCCESSOR OWNER AND ANNUITANT. For all contracts, your spouse can elect upon your death to continue the contract as the owner/annuitant and no death benefit is payable until the surviving spouse's death. If your surviving spouse decides to continue the contract, then as of the date we receive satisfactory proof of death, any required instructions, information and forms necessary to effect the successor owner and annuitant feature, we will increase the account value to equal your minimum death benefit if such death benefit is greater than such account value. The increase in the account value will be allocated to the investment options according to the allocation percentages we have on file for your contract. Thereafter, withdrawal charges will no longer apply to contributions made before your death. Withdrawal charges will apply if additional contributions are made. These additional contributions will be withdrawn only after all other amounts have been withdrawn. The minimum death benefit will continue to apply. WHEN AN NQ CONTRACT OWNER DIES BEFORE THE ANNUITANT Under certain conditions, the owner changes after the original owner's death for purposes of receiving federal tax law required distributions from the contract. When you are not the annuitant under an NQ contract and you die before annuity payments begin, unless you specify otherwise, we will automatically make the beneficiary you name to receive the death benefit upon the annuitant's death your successor owner. If you do not want this beneficiary also to be the successor owner, you should name a specific successor owner. You may name a successor owner at any time by sending satisfactory notice to our processing office. If the contract is jointly owned and the first owner to die is not the annuitant, the surviving owner becomes the sole contract owner. This person will be considered the successor owner for purposes of the distribution rules described in this section. Unless the surviving spouse of the owner who has died (or in the case of a joint ownership situation, the surviving spouse of the first owner to die) is the successor owner for this purpose, the entire interest in the contract must be distributed under the following rules: o the cash value of the contract must be fully paid to the successor owner (new owner) within five years after your death (or in a joint ownership situation, the death of the first owner to die). o the successor owner may instead elect to receive the cash value as a life annuity (or payments for a period certain of not longer than the new owner's life expectancy). Payments must begin within one year after the non-annuitant owner's death. Unless this alternative is elected, we will pay any cash value five years after your death (or the death of the first owner to die). If the surviving spouse is the successor owner or joint owner, the spouse may elect to continue the contract. No distributions are required as long as the surviving spouse and annuitant are living. An eligible successor owner, including a surviving joint owner after the first owner dies, may elect the beneficiary continuation option for NQ contracts discussed under "Beneficiary continuation option" below. The account value must be distributed no later than 5 years after the spouse's death. Payment of death benefit 39 HOW DEATH BENEFIT PAYMENT IS MADE We will pay the death benefit to the beneficiary in the form of the annuity payout option you have chosen. If you have not chosen an annuity payout option as of the time of the annuitant's death, the beneficiary will receive the death benefit in a single sum. However, subject to any exceptions in the contract, our rules and any applicable requirements under federal income tax rules, the beneficiary may elect to apply the death benefit to one or more annuity payout options we offer at the time. See "Your annuity payout options" in "Accessing your money" earlier in this prospectus. Please note that any annuity payout option chosen may not extend beyond the life expectancy of the beneficiary. Single sum payments generally are paid through the AXA Equitable Access Account, an interest bearing account with check writing privileges. The AXA Equitable Access Account is part of AXA Equitable's general account. Beneficiaries have immediate access to the proceeds by writing a check on the account. We pay interest from the date the single sum is deposited into the Access Account until the account is closed. BENEFICIARY CONTINUATION OPTION This feature permits a designated individual, on the contract owner's death, to maintain a contract in the deceased contract owner's name and receive distributions under the contract, instead of receiving the death benefit in a single sum. We make this option available to beneficiaries under traditional IRA, Roth IRA and NQ contracts. BENEFICIARY CONTINUATION OPTION FOR TRADITIONAL IRA AND ROTH IRA CONTRACTS ONLY. The beneficiary must elect this feature by September 30th of the year following the calendar year of your death and before any other inconsistent election is made. Beneficiaries who do not make a timely election will not be eligible for this option. If the election is made, then, as of the date we receive satisfactory proof of death, any required instructions, information and forms necessary to effect the beneficiary continuation option feature, we will increase the account value to equal the applicable death benefit if such death benefit is greater than such account value. The increase in account value will be allocated to the investment options according to the allocation percentages we have on file for your contract. Generally, payments will be made once a year to the beneficiary over the beneficiary's life expectancy (determined in the calendar year after your death and determined on a term certain basis). These payments must begin no later than December 31st of the calendar year after the year of your death. For sole spousal beneficiaries, payments may begin by December 31st of the calendar year in which you would have reached age 70-1/2, if such time is later. For traditional IRA contracts only, if you die before your Required Beginning Date for required minimum distributions as discussed in "Tax information" later in this prospectus, the beneficiary may choose the "5-year rule" instead of annual payments over life expectancy. The 5-year rule is always available to beneficiaries under Roth IRA contracts. If the beneficiary chooses this option, the beneficiary may take withdrawals as desired, but the entire account value must be fully withdrawn by December 31st of the calendar year which contains the fifth anniversary of your death. Under the beneficiary continuation option for traditional IRA and Roth IRA contracts: o The contract continues with your name on it for the benefit of your beneficiary. o This feature is only available if the beneficiary is an individual. Certain trusts with only individual beneficiaries will be treated as individuals for this purpose. o If there is more than one beneficiary, each beneficiary's share will be separately accounted for. It will be distributed over the beneficiary's own life expectancy, if payments over life expectancy are chosen. o The minimum amount that is required in order to elect the ben eficiary continuation option is $5,000 for each beneficiary. o The beneficiary may make transfers among the investment options but no additional contributions will be permitted. o The minimum death benefit will no longer be in effect. o The beneficiary may choose at any time to withdraw all or a por tion of the account value and no withdrawal charges will apply. o Any partial withdrawal must be at least $300. o Your beneficiary will have the right to name a beneficiary to receive any remaining interest in the contract. o Upon the death of your beneficiary, the beneficiary he or she has named has the option to either continue taking required minimum distributions based on the remaining life expectancy of the deceased beneficiary or to receive any remaining interest in the contract in a lump sum. The option elected will be processed when we receive satisfactory proof of death, any required instructions for the method of payment and any required information and forms necessary to effect payment. BENEFICIARY CONTINUATION OPTION FOR NQ CONTRACTS ONLY. This feature, also known as the "inherited annuity," may only be elected when the NQ contract owner dies before the date annuity payments are to begin, whether or not the owner and the annuitant are the same person. If the owner and annuitant are different and the owner dies before the annuitant, for purposes of this discussion, "beneficiary" refers to the successor owner. For a discussion of successor owner, see "When an NQ contract owner dies before the annuitant" earlier in this section. This feature must be elected within 9 months following the date of your death and before any other inconsistent election is made. Beneficiaries who do not make a timely election will not be eligible for this option. Generally, payments will be made once a year to the beneficiary over the beneficiary's life expectancy, determined on a term certain basis and in the year payments start. These payments must begin no later than one year after the date of your death and are referred to as "scheduled payments." The beneficiary may choose the "5-year rule" instead of scheduled payments over life expectancy. If the beneficiary chooses the 5-year rule, there will be no scheduled payments. Under 40 Payment of death benefit the 5-year rule, the beneficiary may take withdrawals as desired, but the entire account value must be fully withdrawn by the fifth anniversary of your death. Under the beneficiary continuation option for NQ contracts (regardless of whether the owner and annuitant are the same person): o This feature is only available if the beneficiary is an individual. It is not available for any entity such as a trust, even if all of the beneficiaries of the trust are individuals. o The contract continues with your name on it for the benefit of your beneficiary. o If there is more than one beneficiary, each beneficiary's share will be separately accounted for. It will be distributed over the respective beneficiary's own life expectancy, if scheduled payments are chosen. o The minimum amount that is required in order to elect the ben eficiary continuation option is $5,000 for each beneficiary. o The beneficiary may make transfers among the investment options but no additional contributions will be permitted. o The minimum death benefit will no longer be in effect. o If the beneficiary chooses the "5-year rule," withdrawals may be made at any time. If the beneficiary chooses scheduled payments, the beneficiary must also choose between two potential withdrawal options at the time of election. "Withdrawal Option 1" permits total surrender only. "Withdrawal Option 2" permits the beneficiary to take withdrawals, in addition to scheduled payments, at any time. See "Taxation of nonqualified annuities" in "Tax information" later in this prospectus. o Any partial withdrawal must be at least $300. o Your beneficiary will have the right to name a beneficiary to receive any remaining interest in the contract on the beneficiary's death. o Upon the death of your beneficiary, the beneficiary that he or she has named has the option to either continue taking scheduled payments based on the remaining life expectancy of the deceased beneficiary (if scheduled payments were chosen) or to receive any remaining interest in the contract in a lump sum. We will pay any remaining interest in the contract in a lump sum if your beneficiary elects the 5-year rule. The option elected will be processed when we receive satisfactory proof of death, any required instructions for the method of payment and any required information and forms necessary to effect payment. If you are both the owner and annuitant: o As of the date we receive satisfactory proof of death, any required instructions, information and forms necessary to effect the beneficiary continuation option feature, we will increase the account value to equal the minimum death benefit if such death benefit is greater than such account value. The increase in account value will be allocated to the investment options according to the allocation percentages we have on file for your contract. o No withdrawal charges will apply to any withdrawals by the ben eficiary. If the owner and annuitant are not the same person: o If the beneficiary continuation option is elected, the beneficiary automatically becomes the new annuitant of the contract, replacing the existing annuitant. o The account value will not be reset to the death benefit amount. o The withdrawal charge schedule and free withdrawal amount on the contract will continue to be applied to any withdrawal or surrender other than scheduled payments. o We do not impose a withdrawal charge on scheduled payments except if, when added to any withdrawals previously taken in the same contract year, including for this purpose a contract surrender, the total amount of withdrawals and scheduled payments exceeds the free withdrawal amount. See "Withdrawal charge" in "Charges and expenses" earlier in this prospectus. If a contract is jointly owned: o The surviving owner supersedes any other named beneficiary and may elect the beneficiary continuation option. o If the deceased joint owner was also the annuitant, see "If you are both the owner and annuitant" above. o If the deceased joint owner was not the annuitant, see "If the owner and annuitant are not the same person" above. Payment of death benefit 41 7. Tax information - -------------------------------------------------------------------------------- OVERVIEW In this part of the prospectus, we discuss the current federal income tax rules that generally apply to EQUI-VEST(SM) Express(SM) contracts owned by United States individual taxpayers. The tax rules can differ, depending on the type of contract, whether NQ, traditional IRA or Roth IRA. Therefore, we discuss the tax aspects of each type of contract separately. Federal income tax rules include the United States laws in the Internal Revenue Code, and Treasury Department Regulations and Internal Revenue Service ("IRS") interpretations of the Internal Revenue Code. These tax rules may change without notice. We cannot predict whether, when, or how these rules could change. Any change could affect contracts purchased before the change. Congress may also consider proposals in the future to comprehensively reform or overhaul the United States tax and retirement systems, which if enacted, could affect the tax benefits of a contract. We cannot predict what, if any, legislation will actually be proposed or enacted. We cannot provide detailed information on all tax aspects of the contracts. Moreover, the tax aspects that apply to a particular person's contract may vary depending on the facts applicable to that person. We do not discuss state income and other state taxes, federal income tax and withholding rules for non-U.S. taxpayers, or federal gift and estate taxes. Transfers of the contract, rights or values under the contract, or payments under the contract, for example, amounts due to beneficiaries, may be subject to federal or state gift, estate or inheritance taxes. You should not rely only on this document, but should consult your tax adviser before your purchase. BUYING A CONTRACT TO FUND A RETIREMENT ARRANGEMENT Generally, there are two types of funding vehicles that are available for Individual Retirement Arrangements ("IRAs"): an individual retirement annuity contract such as the ones offered in this prospectus, or an individual retirement custodial or trusteed account. How these arrangements work, including special rules applicable to each, are described in the specific sections for each type of arrangement, below. You should be aware that the funding vehicle for a tax-qualified arrangement does not provide any tax deferral benefit beyond that already provided by the Code for all permissible funding vehicles. Before choosing an annuity contract, therefore, you should consider the annuity's features and benefits, such as the guaranteed minimum death benefit, selection of variable investment options and fixed maturity options and choices of payout options of EQUI-VEST(SM) Express(SM), as well as the features and benefits of other permissible funding vehicles and the relative costs of annuities and other such arrangements. You should be aware that cost may vary depending on the features and benefits made available and the charges and expenses of the portfolios you elect. Certain provisions of the Treasury Regulations on required minimum distributions concerning the actuarial present value of additional contract benefits could increase the amount required to be distributed from individual retirement annuity contracts. For this purpose additional annuity contract benefits may include enhanced death benefits. You should consider the potential implication of these Regulations before you purchase this annuity contract. TRANSFERS AMONG INVESTMENT OPTIONS You can make transfers among investment options inside the contract without triggering taxable income. TAXATION OF NONQUALIFIED ANNUITIES CONTRIBUTIONS You may not deduct the amount of your contributions to a nonqualified annuity contract. CONTRACT EARNINGS Generally, you are not taxed on contract earnings until you receive a distribution from your contract, whether as a withdrawal or as an annuity payment. However, earnings are taxable, even without a distribution: o if a contract fails investment diversification requirements as specified in federal income tax rules (these rules are based on or are similar to those specified for mutual funds under securities laws); o if you transfer a contract, for example, as a gift to someone other than your spouse (or former spouse); o if you use a contract as security for a loan (in this case, the amount pledged will be treated as a distribution); and o if the owner is other than an individual (such as a corporation, partnership, trust, or other non-natural person). This provision does not apply to a trust which is a mere agent or nominee for an individual, such as a grantor trust. All nonqualified deferred annuity contracts that AXA Equitable and its affiliates issue to you during the same calendar year are linked together and treated as one contract for calculating the taxable amount of any distribution from any of those contracts. ANNUITY PAYMENTS Once annuity payments begin, a portion of each payment is taxable as ordinary income. You get back the remaining portion without paying taxes on it. This is your "investment in the contract." Generally, your investment in the contract equals the contributions you made, less any amounts you previously withdrew that were not taxable. For fixed annuity payments, the tax-free portion of each payment is determined by (1) dividing your investment in the contract by the total 42 Tax information amount you are expected to receive out of the contract, and (2) multiplying the result by the amount of the payment. For variable annuity payments, your tax-free portion of each payment is your investment in the contract divided by the number of expected payments. Once you have received the amount of your investment in the contract, all payments after that are fully taxable. If payments under a life annuity stop because the annuitant dies, there is an income tax deduction for any unrecovered investment in the contract. In order to get annuity payment tax treatment described here, all amounts under the contract must be applied to the annuity payout option; we do not "partially annuitize" nonqualified deferred annuity contracts. WITHDRAWALS MADE BEFORE ANNUITY PAYMENTS BEGIN If you make withdrawals before annuity payments begin under your contract, they are taxable to you as ordinary income if there are earnings in the contract. Generally, earnings are your account value less your investment in the contract. If you withdraw an amount which is more than the earnings in the contract as of the date of the withdrawal, the balance of the distribution is treated as a return of your investment in the contract and is not taxable. CONTRACTS PURCHASED THROUGH EXCHANGES You may purchase your NQ contract through an exchange of another contract. Normally, exchanges of contracts are taxable events. The exchange will not be taxable under Section 1035 of the Internal Revenue Code if: o the contract that is the source of the funds you are using to purchase the NQ contract is another nonqualified deferred annuity contract (or life insurance or endowment contract). o the owner and the annuitant are the same under the source contract and the EQUI-VEST(SM) Express(SM) NQ contract. If you are using a life insurance or endowment contract the owner and the insured must be the same on both sides of the exchange transaction. The tax basis, also referred to as your investment in your contract of the source contract carries over to the EQUI-VEST(SM) Express(SM) NQ contract. An owner may direct the proceeds of a partial withdrawal from one nonqualified deferred annuity contract to a different insurer to purchase a new nonqualified deferred annuity contract on a tax-deferred basis. Special forms, agreements between the carriers, and provision of cost basis information may be required to process this type of exchange. Section 1035 exchanges are generally not available after the death of the owner. SURRENDERS If you surrender or cancel the contract, the distribution is taxable as ordinary income (not capital gain) to the extent it exceeds your investment in the contract. BENEFICIARY CONTINUATION OPTION We have received a private letter ruling from the IRS regarding certain tax consequences of scheduled payments under the beneficiary continuation option for NQ contracts. See the discussion of the beneficiary continuation option for NQ contracts earlier in this prospectus. Among other things, the IRS rules that: o scheduled payments under the beneficiary continuation option for NQ contracts satisfy the death of owner rules of Section 72(s)(2) of the Code, regardless of whether the beneficiary elects Withdrawal Option 1 or Withdrawal Option 2; o scheduled payments, any additional withdrawals under With drawal Option 2, or contract surrenders under Withdrawal Option 1 will only be taxable to the beneficiary when amounts are actually paid, regardless of the Withdrawal Option selected by the beneficiary; o a beneficiary who irrevocably elects scheduled payments with Withdrawal Option 1 will receive "excludable amount" tax treatment on scheduled payments. See "Annuity payments" earlier in this section. If the beneficiary elects to surrender the contract before all scheduled payments are paid, the amount received upon surrender is a non-annuity payment taxable to the extent it exceeds any remaining investment in the contract. The ruling specifically does not address the taxation of any payments received by a beneficiary electing Withdrawal Option 2 (whether scheduled payments or any withdrawal that might be taken). The tax treatment of a withdrawal after the death of the owner taken as a single sum or taken as withdrawals under the 5-year rule is generally the same as the tax treatment of a withdrawal from or surrender of your contract. DEATH BENEFIT PAYMENTS MADE TO A BENEFICIARY AFTER YOUR DEATH For the rules applicable to death benefits, see "Payment of death benefit" earlier in this prospectus. The tax treatment of a death benefit taken as a single sum is generally the same as the tax treatment of a withdrawal from or surrender of your contract. The tax treatment of a death benefit taken as annuity payments is generally the same as the tax treatment of annuity payments under your contract. EARLY DISTRIBUTION PENALTY TAX If you take distributions before you are age 59-1/2 a penalty tax of 10% of the taxable portion of your distribution applies in addition to the income tax. Some of the available exceptions to the pre-age 59-1/2 penalty tax include distributions made: o on or after your death; or o because you are disabled (special federal income tax definition); or o in the form of substantially equal periodic annuity payments for your life (or life expectancy) or the joint lives (or joint life expectancy) of you and a beneficiary, in accordance with IRS formulas. Tax information 43 INVESTOR CONTROL ISSUES Under certain circumstances, the IRS has stated that you could be treated as the owner (for tax purposes) of the assets of Separate Account A. If you were treated as the owner, you would be taxed on income and gains attributable to the shares of the underlying portfolios. The circumstances that would lead to this tax treatment would be that, in the opinion of the IRS, you could control the underlying investment of Separate Account A. Recently, the IRS has said that the owners of variable annuities will not be treated as owning the separate account assets provided the underlying portfolios are restricted to variable life and annuity assets. The variable annuity owners must have the right only to choose among the portfolios, and must have no right to direct the particular investment decisions within the portfolios. Although we believe that, under current IRS guidance, you would not be treated as the owner of the assets of Separate Account A, there are some issues that remain unclear. For example, the IRS has not issued any guidance as to whether having a larger number of portfolios available, or an unlimited right to transfer among them, could cause you to be treated as the owner. We do not know whether the IRS will ever provide such guidance or whether such guidance, if unfavorable, would apply retroactively to your contract. Furthermore, the IRS could reverse its current guidance at any time. We reserve the right to modify your contract as necessary to prevent you from being treated as the owner of the assets of Separate Account A. INDIVIDUAL RETIREMENT ARRANGEMENTS ("IRAS") GENERAL "IRA" stands for individual retirement arrangement. There are two basic types of such arrangements, individual retirement accounts and individual retirement annuities. In an individual retirement account, a trustee or custodian holds the assets funding the account for the benefit of the IRA owner. The assets typically include mutual funds and/or individual stocks and securities in a custodial account, and bank certificates of deposit in a trusteed account. In an individual retirement annuity, an insurance company issues an annuity contract that serves as the IRA. There are two basic types of IRAs, as follows: o traditional IRAs, typically funded on a pre-tax basis, including SEP IRAs and SIMPLE IRAs issued and funded in connection with employer-sponsored retirement plans. o Roth IRAs, funded on an after-tax basis. Regardless of the type of IRA, your ownership interest in the IRA cannot be forfeited. You or your beneficiaries who survive you are the only ones who can receive the IRA's benefits or payments. All types of IRAs qualify for tax deferral, regardless of the funding vehicle selected. You can hold your IRA assets in as many different accounts and annuities as you would like, as long as you meet the rules for setting up and making contributions to IRAs. However, if you own multiple IRAs, you may be required to combine IRA values or contributions for tax purposes. For further information about individual retirement arrangements, you can read Internal Revenue Service Publication 590 ("Individual Retirement Arrangements (IRAs)"). This publication is usually updated annually, and can be obtained from any IRS district office or the IRS website (www.irs.gov). AXA Equitable designs its IRA contracts to qualify as "individual retirement annuities" under Section 408(b) of the Internal Revenue Code. We offer the EQUI-VEST(SM) Express(SM) contract in both traditional IRA and Roth IRA versions. This prospectus contains the information that the IRS requires you to have before you purchase an IRA. The first section covers some of the special tax rules that apply to traditional IRAs. The next section covers Roth IRAs. The disclosure generally assumes direct ownership of the individual retirement annuity contracts. We describe the amount and types of charges that may apply to your contributions under "Charges and expenses" earlier in this prospectus. We describe the method of calculating payments under "Accessing your money" earlier in this prospectus. We do not guarantee or project growth in variable income annuitization option payments (as opposed to payments from a fixed income annuitization option). We have received an opinion letter from the IRS approving the respective forms of the EQUI-VEST(SM) Express(SM) traditional and Roth IRA contracts for use as a traditional IRA and a Roth IRA, respectively. We may no longer rely on the opinion letter for the Roth IRA. This IRS approval is a determination only as to the form of the annuity. It does not represent a determination of the merits of the annuity as an investment. The contracts submitted for IRS approval do not include every feature possibly available under the EQUI-VEST(SM) Express(SM) traditional and Roth IRA contracts. AXA Equitable has applied for opinion letters from the IRS to approve the respective forms of nearly identical versions of the Inherited IRA beneficiary continuation contract for use as a traditional and Roth IRA, respectively. We do not know if and when any such approval may be granted. YOUR RIGHT TO CANCEL WITHIN A CERTAIN NUMBER OF DAYS You can cancel any version of the EQUI-VEST(SM) Express(SM) IRA contract (traditional IRA or Roth IRA) by following the directions under "Your right to cancel within a certain number of days" in "Contract features and benefits" earlier in this prospectus. You can cancel an EQUI-VEST(SM) Express(SM) Roth IRA contract issued as a result of a full or partial conversion of any EQUI-VEST(SM) Express(SM) traditional IRA contract by following the instructions in the "EQUI-VEST(SM) Roth IRA Re-Characterization Form." The form is available from our processing office or your financial professional. If you cancel a traditional IRA, or Roth IRA contract, we may have to withhold tax, and we must report the transaction to the IRS. A contract cancellation could have an unfavorable tax impact. TRADITIONAL INDIVIDUAL RETIREMENT ANNUITIES (TRADITIONAL IRAS) CONTRIBUTIONS TO TRADITIONAL IRAS. Generally, individuals may make three different types of contributions to purchase a traditional IRA or as additional contributions to an existing IRA: 44 Tax information o "regular" contributions out of earned income or compensation; or o tax-free "rollover" contributions; or o direct custodian-to-custodian transfers from other traditional IRAs ("direct transfers"). REGULAR CONTRIBUTIONS TO TRADITIONAL IRAS LIMITS ON CONTRIBUTIONS. The "maximum regular contribution amount" for any taxable year is the most that can be contributed to all of your IRAs (traditional and Roth) as regular contributions for the particular taxable year. The maximum regular contribution amount depends on age, earnings, and year, among other things. Generally, $5,000 is the maximum amount that you may contribute to all IRAs (including Roth IRAs). When your earnings are below $5,000, your earned income or compensation for the year is the most you can contribute. This limit does not apply to rollover contributions or direct custodian-to-custodian transfers into a traditional IRA. You cannot make regular traditional IRA contributions for the taxable year in which you reach age 70-1/2 or any taxable year after that. If you are at least age 50 at any time during the taxable year for which you are making a regular contribution to your IRA, you may be eligible to make additional "catch up contributions" of up to $1,000 to your traditional IRA. SPECIAL RULES FOR SPOUSES. If you are married and file a joint income tax return, you and your spouse may combine your compensation to determine the amount of regular contributions you are permitted to make to traditional IRAs (and Roth IRAs discussed below). Even if one spouse has no compensation, or compensation under $5,000, married individuals filing jointly can contribute up to $10,000 per year to any combination of traditional IRAs and Roth IRAs. Any contributions to Roth IRAs reduce the ability to contribute to traditional IRAs and vice versa. The maximum amount may be less if earned income is less and the other spouse has made IRA contributions. No more than a combined total of $5,000 can be contributed annually to either spouse's traditional and Roth IRAs. Each spouse owns his or her traditional IRAs and Roth IRAs even if the other spouse funded the contributions. A working spouse age 70-1/2 or over can contribute up to the lesser of $5,000 or 100% of "earned income" to a traditional IRA for a nonworking spouse until the year in which the nonworking spouse reaches age 70-1/2. Catch-up contributions may be made as described above for spouses who are at least age 50 but under age 70-1/2 at any time during the taxable year for which the contribution is being made. DEDUCTIBILITY OF CONTRIBUTIONS. The amount of traditional IRA contributions that you can deduct for a taxable year depends on whether you are covered by an employer-sponsored-tax-favored retirement plan, as defined under special federal income tax rules. Your Form W-2 will indicate whether or not you are covered by such a retirement plan. If you are not covered by a retirement plan during any part of the year, you can make fully deductible contributions to your traditional IRAs for the taxable year up to the maximum amount discussed above under "Limits on contributions." That is, your fully deductible contribution can be up to $5,000, or if less, your earned income. The dollar limit is $6,000 for people eligible to make age 50-70-1/2 catch-up contributions. If you are covered by a retirement plan during any part of the year, and your adjusted gross income (AGI) is below the lower dollar figure in a phase-out range, you can make fully deductible contributions to your traditional IRAs. If you are covered by a retirement plan during any part of the year, and your AGI falls within a phase-out range, you can make partially deductible contributions to your traditional IRAs. If you are covered by a retirement plan during any part of the year, and your AGI falls above the higher figure in the phase-out range, you may not deduct any of your regular contributions to your traditional IRAs. Cost of living adjustments apply to the income limits on deductible contributions. If you are single and covered by a retirement plan during any part of the taxable year, the deduction for traditional IRA contributions phases out with AGI between $50,000 and $60,000 (for 2008, AGI between $53,000 and $63,000 after adjustment). If you are married and file a joint return, and you are covered by a retirement plan during any part of the taxable year, the deduction for traditional IRA contributions phases out with AGI between $80,000 and $100,000 in 2007 (for 2008, AGI between $85,000 and $105,000 after adjustment). Married individuals filing separately and living apart at all times are not considered married for purposes of this deductible contribution calculation. Generally, the active participation in an employer-sponsored retirement plan of an individual is determined independently for each spouse. Where spouses have "married filing jointly" status, however, the maximum deductible traditional IRA contribution for an individual who is not an active participant (but whose spouse is an active participant) is phased out for taxpayers with AGI of between $150,000 and $160,000 (for 2008, AGI between $159,000 and $169,000 after adjustment). To determine the deductible amount of the contribution for 2008, for example, you determine AGI and subtract $53,000 if you are single, or $85,000 if you are married and file a joint return with your spouse. The resulting amount is your excess AGI. You then determine the limit on the deduction for traditional IRA contributions using the following formula: ($10,000-excess AGI) times the maximum equals the adjusted - ---------------------- x regular contribution = deductible divided by $10,000 amount for the year contribution discussed above limit Tax information 45 ADDITIONAL "SAVER'S CREDIT" FOR CONTRIBUTIONS TO A TRADITIONAL IRA OR ROTH IRA You may be eligible for a nonrefundable income tax credit for contributions you make to a traditional IRA or Roth IRA. If you qualify, you may take this credit even though your traditional IRA contribution is already fully or partially deductible. To take advantage of this "saver's credit" you must be age 18 or over before the end of the taxable year for which the contribution is made. You cannot be a full-time student or claimed as a dependent on another's tax return, and your adjusted gross income cannot exceed $53,000 for 2008 after cost of living adjustments. The amount of the tax credit you can get varies from 10% of your contribution to 50% of your contribution, and depends on your income tax filing status and your adjusted gross income. The maximum annual contribution eligible for the saver's credit is $2,000. If you and your spouse file a joint return, and each of you qualifies, each is eligible for a maximum annual contribution of $2,000. Your saver's credit may also be reduced if you take or have taken a taxable distribution from any plan eligible for a saver's credit contribution -- even if you make a contribution to one plan and take the distribution from another plan -- during the "testing period." The "testing period" begins two years before the year for which you make the contribution and ends when your tax return is due, including extensions, for the year for which you make the contribution. Saver's-credit-eligible contributions may be made to a 401(k) plan, 403(b) plan, governmental employer 457(b) plan, SIMPLE IRA, or SARSEP IRA, as well as a traditional IRA or Roth IRA. NONDEDUCTIBLE REGULAR CONTRIBUTIONS. If you are not eligible to deduct part or all of the traditional IRA contribution, you may still make nondeductible contributions on which earnings will accumulate on a tax-deferred basis. The combined deductible and nondeductible contributions to your traditional IRA (or the nonworking spouse's traditional IRA) may not, however, exceed the maximum $5,000 per person limit for the applicable taxable year. The dollar limit is $6,000 for people eligible to make age 50-70-1/2 "catch-up" contributions. See "Excess contributions" below. You must keep your own records of deductible and nondeductible contributions in order to prevent double taxation on the distribution of previously taxed amounts. See "Withdrawals, payments and transfers of funds out of traditional IRAs" below. If you are making nondeductible contributions in any taxable year, or you have made nondeductible contributions to a traditional IRA in prior years and are receiving distributions from any traditional IRA, you must file the required information with the IRS. Moreover, if you are making nondeductible traditional IRA contributions, you must retain all income tax returns and records pertaining to such contributions until interests in all traditional IRAs are fully distributed. WHEN YOU CAN MAKE REGULAR CONTRIBUTIONS. If you file your tax returns on a calendar year basis like most taxpayers, you have until the April 15 return filing deadline (without extensions) of the following calendar year to make your regular traditional IRA contributions for a tax year. ROLLOVER AND TRANSFER CONTRIBUTIONS TO TRADITIONAL IRAS Rollover contributions may be made to a traditional IRA from these "eligible retirement plans": o qualified plans; o governmental employer 457(b) plans, also referred to as "governmental employer EDC plans"; o 403(b) plans; and o other traditional IRAs. Direct transfer contributions may only be made directly from one traditional IRA to another. Any amount contributed to a traditional IRA after you reach age 70-1/2 must be net of your required minimum distribution for the year in which the rollover or direct transfer contribution is made. ROLLOVERS FROM "ELIGIBLE RETIREMENT PLANS" OTHER THAN TRADITIONAL IRAS Your plan administrator will tell you whether or not your distribution is eligible to be rolled over. Spousal beneficiaries and spousal alternate payees under qualified domestic relations orders may roll over funds on the same basis as the plan participant. A non-spousal death beneficiary may also be able to make a direct rollover to an inherited traditional IRA under certain circumstances. There are two ways to do rollovers: o Do it yourself: You actually receive a distribution that can be rolled over and you roll it over to a traditional IRA within 60 days after the date you receive the funds. The distribution from your eligible retirement plan will be net of 20% mandatory federal income tax withholding. If you want, you can replace the withheld funds yourself and roll over the full amount. o Direct rollover: You tell the trustee or custodian of the eligible retirement plan to send the distribution directly to your traditional IRA issuer. Direct rollovers are not subject to mandatory federal income tax withholding. All distributions from a 403(b) plan, qualified plan or governmental employer 457(b) plan are eligible rollover distributions, unless the distribution is: o "a required minimum distribution" after age 70-1/2 or retirement; or o one of a series of substantially equal periodic payments made at least annually for your life (or life expectancy) or the joint lives (or joint life expectancies) of you and your designated beneficiary; or o one of a series of substantially equal periodic payments made for a specified period of 10 years or more; or o a hardship withdrawal; or o a corrective distribution which fits specified technical tax rules; or 46 Tax information o a loan that is treated as a distribution; or o a death benefit payment to a beneficiary who is not your surviving spouse; or o a qualified domestic relations order distribution to a beneficiary who is not your current or former spouse. You should discuss with your tax adviser whether you should consider rolling over funds from one type of tax qualified retirement plan to another, because the funds will generally be subject to the rules of the recipient plan. For example, funds in a governmental employer 457(b) plan are not subject to the additional 10% federal income tax penalty for premature distributions, but they may become subject to this penalty if you roll the funds to a different type of eligible retirement plan, such as a traditional IRA, and subsequently take a premature distribution. ROLLOVERS OF AFTER-TAX CONTRIBUTIONS FROM ELIGIBLE RETIREMENT PLANS OTHER THAN TRADITIONAL IRAS Any non-Roth after-tax contributions you have made to a qualified plan or 403(b) plan (but not a governmental employer 457(b) plan) may be rolled over to a traditional IRA (either in a direct rollover or a rollover you do yourself). When the recipient plan is a traditional IRA, you are responsible for recordkeeping and calculating the taxable amount of any distributions you take from that traditional IRA. See "Taxation of payments" later in this prospectus under "Withdrawals, payments and transfers of funds out of traditional IRAs." After-tax contributions in a traditional IRA cannot be rolled over from your traditional IRA into, or back into, a qualified plan, 403(b) plan or governmental employer 457(b) plan. ROLLOVERS FROM TRADITIONAL IRAS TO TRADITIONAL IRAS You may roll over amounts from one traditional IRA to one or more of your other traditional IRAs if you complete the transaction within 60 days after you receive the funds. You may make such a rollover only once in every 12-month period for the same funds. Trustee-to-trustee or custodian-to-custodian direct transfers are not rollover transactions. You can make these more frequently than once in every 12-month period. SPOUSAL ROLLOVERS AND DIVORCE-RELATED DIRECT TRANSFERS The surviving spousal beneficiary of a deceased individual can roll over funds from, or directly transfer funds from, an inherited traditional IRA to one or more other traditional IRAs. A non-spousal death beneficiary may also be able to make a direct rollover to an inherited traditional IRA under certain circumstances. Also, in some cases, traditional IRAs can be transferred on a tax-free basis between spouses or former spouses as a result of a court ordered divorce or separation decree. EXCESS CONTRIBUTIONS Excess contributions to IRAs are subject to a 6% excise tax for the year in which made and for each year after until withdrawn. The following are excess contributions to IRAs: o regular contributions of more than the maximum regular contribution amount for the applicable taxable year; or o regular contributions to a traditional IRA made after you reach age 70-1/2; or o rollover contributions of amounts which are not eligible to be rolled over, for example, minimum distributions required to be made after age 70-1/2. You can avoid the excise tax by withdrawing an excess contribution (rollover or regular) before the due date (including extensions) for filing your federal income tax return for the year. If it is an excess regular traditional IRA contribution, you cannot take a tax deduction for the amount withdrawn. You do not have to include the excess contribution withdrawn as part of your income. It is also not subject to the 10% additional penalty tax on early distributions, discussed below under "Early distribution penalty tax." You do have to withdraw any earnings that are attributed to the excess contribution. The withdrawn earnings would be included in your gross income and could be subject to the 10% penalty tax. Even after the due date for filing your return, you may withdraw an excess rollover contribution, without income inclusion or 10% penalty, if: (1) the rollover was from an eligible retirement plan to a traditional IRA; (2) the excess contribution was due to incorrect information that the plan provided; and (3) you took no tax deduction for the excess contribution. RECHARACTERIZATIONS Amounts that have been contributed as traditional IRA funds may subsequently be treated as Roth IRA funds. Special federal income tax rules allow you to change your mind again and have amounts that are subsequently treated as Roth IRA funds, once again treated as traditional IRA funds. You do this by using the forms we prescribe. This is referred to as having "recharacterized" your contribution. WITHDRAWALS, PAYMENTS AND TRANSFERS OF FUNDS OUT OF TRADITIONAL IRAS NO FEDERAL INCOME TAX LAW RESTRICTIONS ON WITHDRAWALS. You can withdraw any or all of your funds from a traditional IRA at any time. You do not need to wait for a special event like retirement. TAXATION OF PAYMENTS. Earnings in traditional IRAs are not subject to federal income tax until you or your beneficiary receive them. Taxable payments or distributions include withdrawals from your contract, surrender of your contract, and annuity payments from your contract. Death benefits are also taxable. Except as discussed below, the total amount of any distribution from a traditional IRA must be included in your gross income as ordinary income. We report all payments from traditional IRA contracts on IRS Form 1099-R as fully taxable. Tax information 47 If you have ever made nondeductible IRA contributions to any traditional IRA (it does not have to be to this particular traditional IRA contract), those contributions are recovered tax free when you get distributions from any traditional IRA. It is your responsibility to keep permanent tax records of all of your nondeductible contributions to traditional IRAs so that you can correctly report the taxable amount of any distribution on your own tax return. At the end of any year in which you have received a distribution from any traditional IRA, you calculate the ratio of your total nondeductible traditional IRA contributions (less any amounts previously withdrawn tax free) to the total account balances of all traditional IRAs you own at the end of the year plus all traditional IRA distributions made during the year. Multiply this by all distributions from the traditional IRA during the year to determine the nontaxable portion of each distribution. A distribution from a traditional IRA is not taxable if: o the amount received is a withdrawal of excess contributions, as described under "Excess contributions" above; or o the entire amount received is rolled over to another traditional IRA or other eligible retirement plan which agrees to accept the funds. (See "Rollovers from eligible retirement plans other than traditional IRAs" under "Rollover and transfer contributions to traditional IRAs" above.) The following are eligible to receive rollovers of distributions from a traditional IRA: a qualified plan, a 403(b) plan or a governmental employer 457 plan. After-tax contributions in a traditional IRA cannot be rolled from your traditional IRA into, or back into, a qualified plan, 403(b) plan or governmental employer 457 plan. Before you decide to roll over a distribution from a traditional IRA to another eligible retirement plan, you should check with the administrator of that plan about whether the plan accepts rollovers and, if so, the types it accepts. You should also check with the administrator of the receiving plan about any documents required to be completed before it will accept a rollover. Distributions from a traditional IRA are not eligible for favorable ten-year averaging and long-term capital gain treatment available under limited circumstances for certain distributions from qualified plans. If you might be eligible for such tax treatment from your qualified plan, you may be able to preserve such tax treatment even though an eligible rollover from a qualified plan is temporarily rolled into a "conduit IRA" before being rolled back into a qualified plan. See your tax adviser. REQUIRED MINIMUM DISTRIBUTIONS BACKGROUND ON REGULATIONS -- REQUIRED MINIMUM DISTRIBUTION. Distributions must be made from traditional IRAs according to rules contained in the Code and Treasury Regulations. Certain provisions of the Treasury Regulations require that the actuarial present value of additional annuity contract benefits must be added to the dollar amount credited for purposes of calculating certain types of required minimum distributions from individual retirement annuity contracts. For this purpose additional annuity contract benefits may include enhanced death benefits. This could increase the amount required to be distributed from these contracts if you take annual withdrawals instead of receiving annuity payments. LIFETIME REQUIRED MINIMUM DISTRIBUTIONS. You must start taking annual distributions from your traditional IRAs for the year in which you turn age 70-1/2. When you have to take the first lifetime required minimum distribution. The first required minimum distribution is for the calendar year in which you turn age 70-1/2. You have the choice to take this first required minimum distribution during the calendar year you actually reach age 70-1/2, or to delay taking it until the first three-month period in the next calendar year (January 1 - April 1). Distributions must start no later than your "Required Beginning Date," which is April 1st of the calendar year after the calendar year in which you turn age 70-1/2. If you choose to delay taking the first annual minimum distribution, then you will have to take two minimum distributions in that year -- the delayed one for the first year and the one actually for that year. Once minimum distributions begin, they must be made at some time each year. HOW YOU CAN CALCULATE REQUIRED MINIMUM DISTRIBUTIONS. There are two approaches to taking required minimum distributions -- "account-based" or "annuity-based." ACCOUNT-BASED METHOD. If you choose an account-based method, you divide the value of your traditional IRA as of December 31st of the past calendar year by a number corresponding to your age from an IRS table. This gives you the required minimum distribution amount for that particular IRA for that year. If your spouse is your sole beneficiary and more than 10 years younger than you, the dividing number you use may be from another IRS table and may produce a smaller lifetime required minimum distribution amount. Regardless of the table used, the required minimum distribution amount will vary each year as the account value, the actuarial present value of additional annuity contract benefits, if applicable, and the divisor change. If you initially choose an account-based method, you may later apply your traditional IRA funds to a life annuity-based payout with any certain period not exceeding remaining life expectancy, determined in accordance with IRS tables. ANNUITY-BASED METHOD. If you choose an annuity-based method, you do not have to do annual calculations. You apply the account value to an annuity payout for your life or the joint lives of you and a designated beneficiary, or for a period certain not extending beyond applicable life expectancies, determined in accordance with IRS tables. DO YOU HAVE TO PICK THE SAME METHOD TO CALCULATE YOUR REQUIRED MINIMUM DISTRIBUTIONS FOR ALL OF YOUR TRADITIONAL IRAS AND OTHER RETIREMENT PLANS? No. If you want, you can choose a different method for each of your traditional IRAs and other retirement plans. For example, you can choose an annuity payout from one IRA, a different annuity payout from a qualified plan, and an account-based annual withdrawal from another IRA. 48 Tax information WILL WE PAY YOU THE ANNUAL AMOUNT EVERY YEAR FROM YOUR TRADITIONAL IRA BASED ON THE METHOD YOU CHOOSE? We will only pay you automatically if you affirmatively select an annuity payout option or an account-based withdrawal option such as our minimum distribution withdrawal option. If you do not elect one of these options, we will calculate the amount of the required minimum distribution withdrawal for you, if you so request in writing. However, in that case you will be responsible for asking us to pay the required minimum distribution withdrawal to you. Also, the IRS will let you calculate the required minimum distribution for each traditional IRA that you maintain, using the method that you picked for that particular IRA. You can add these required minimum distribution amount calculations together. As long as the total amount you take out every year satisfies your overall traditional IRA required minimum distribution amount, you may choose to take your annual required minimum distribution from any one or more traditional IRAs that you own. WHAT IF YOU TAKE MORE THAN YOU NEED TO FOR ANY YEAR? The required minimum distribution amount for your traditional IRAs is calculated on a year-by-year basis. There are no carry-back or carry-forward provisions. Also, you cannot apply required minimum distribution amounts you take from your qualified plans to the amounts you have to take from your traditional IRAs and vice versa. WHAT IF YOU TAKE LESS THAN YOU NEED TO FOR ANY YEAR? Your IRA could be disqualified, and you could have to pay tax on the entire value. Even if your IRA is not disqualified, you could have to pay a 50% penalty tax on the shortfall (required amount for traditional IRAs less amount actually taken). It is your responsibility to meet the required minimum distribution rules. We will remind you when our records show that you are within the age group which must take lifetime required minimum distributions. If you do not select a method with us, we will assume you are taking your required minimum distribution from another traditional IRA that you own. WHAT ARE THE REQUIRED MINIMUM DISTRIBUTION PAYMENTS AFTER YOU DIE? These could vary depending on whether you die before or after your Required Beginning Date for lifetime required minimum distribution payments, and the status of your beneficiary. The following assumes that you have not yet elected an annuity-based payout at the time of your death. If you elect an annuity-based payout, payments (if any) after your death must be made at least as rapidly as when you were alive. INDIVIDUAL BENEFICIARY. Regardless of whether your death occurs before or after your Required Beginning Date, an individual death beneficiary calculates annual post-death required minimum distribution payments based on the beneficiary's life expectancy using the "term certain method." That is, he or she determines his or her life expectancy using the IRS-provided life expectancy tables as of the calendar year after the owner's death and reduces that number by one each subsequent year. If you die before your Required Beginning Date, the rules permit any individual beneficiary, including a spousal beneficiary, to elect instead to apply the "5-year rule." Under this rule, instead of annual payments having to be made beginning with the first in the year following the owner's death, the entire account must be distributed by the end of the calendar year which contains the fifth anniversary of the owner's death. No distribution is required before that fifth year. SPOUSAL BENEFICIARY. If you die after your Required Beginning Date, and your death beneficiary is your surviving spouse, your spouse has a number of choices. Post-death distributions may be made over your spouse's single life expectancy. Any amounts distributed after that surviving spouse's death are made over the spouse's life expectancy calculated in the year of his/her death, reduced by one for each subsequent year. In some circumstances, your surviving spouse may elect to become the owner of the traditional IRA and halt distributions until he or she reaches age 70-1/2, or roll over amounts from your traditional IRA into his/her own traditional IRA or other eligible retirement plan. If you die before your Required Beginning Date, and the death beneficiary is your surviving spouse, the rules permit the spouse to delay starting payments over his/her life expectancy until the year in which you would have attained age 70-1/2. NON-INDIVIDUAL BENEFICIARY. If you die after your Required Beginning Date, and your death beneficiary is a non-individual, such as the estate, the rules permit the beneficiary to calculate post-death required minimum distribution amounts based on the owner's life expectancy in the year of death. However, note that we need an individual annuitant to keep an annuity contract in force. If the beneficiary is not an individual, we must distribute amounts remaining in the annuity contract after the death of the annuitant. If you die before your Required Beginning Date for lifetime required minimum distribution payments, and the death beneficiary is a non-individual, such as the estate, the rules continue to apply the 5-year rule discussed above under "Individual beneficiary." Please note that we need an individual annuitant to keep an annuity contract in force. If the beneficiary is not an individual, we must distribute amounts remaining in the annuity contract after the death of the annuitant. SUCCESSOR OWNER AND ANNUITANT If your spouse is the sole primary beneficiary and elects to become the successor owner and annuitant, no death benefit is payable until your surviving spouse's death. The required minimum distribution rules are applied as if your surviving spouse is the contract owner. PAYMENTS TO A BENEFICIARY AFTER YOUR DEATH IRA death benefits are taxed the same as IRA distributions. BORROWING AND LOANS ARE PROHIBITED TRANSACTIONS You cannot get loans from a traditional IRA. You cannot use a traditional IRA as collateral for a loan or other obligation. If you borrow against your IRA or use it as collateral, its tax-favored status will be lost as of the first day of the tax year in which this prohibited event occurs. If this happens, you must include the value of the traditional Tax information 49 IRA in your federal gross income. Also, the early distribution penalty tax of 10% may apply if you have not reached age 59-1/2 before the first day of that tax year. EARLY DISTRIBUTION PENALTY TAX A penalty tax of 10% of the taxable portion of a distribution applies to distributions from a traditional IRA made before you reach age 59-1/2. Some of the available exceptions to the pre-age 59-1/2 penalty tax include distributions made: o on or after your death; or o because you are disabled (special federal income tax definition); or o to pay for certain extraordinary medical expenses (special federal income tax definition); or o to pay medical insurance premiums for unemployed individuals (special federal income tax definition); or o to pay certain first-time home buyer expenses (special federal income tax definition); or o to pay certain higher education expenses (special federal income tax definition -- there is a $10,000 lifetime total limit for these distributions from all your traditional and Roth IRAs); or o in the form of substantially equal periodic payments made at least annually over your life (or your life expectancy), or over the joint lives of you and your beneficiary (or your joint life expectancy) using an IRS-approved distribution method. ROTH INDIVIDUAL RETIREMENT ANNUITIES ("ROTH IRAS") This section of the prospectus covers some of the special tax rules that apply to Roth IRAs. If the rules are the same as those that apply to the traditional IRA, we will refer you to the same topic under "Traditional IRAs." The EQUI-VEST(SM) Express(SM) Roth IRA contracts are designed to qualify as Roth individual retirement annuities under Sections 408A(b) and 408(b) of the Internal Revenue Code. CONTRIBUTIONS TO ROTH IRAS Individuals may make four different types of contributions to a Roth IRA: o regular after-tax contributions out of earnings; or o taxable rollover contributions from traditional IRAs or other eligible retirement plans ("conversion" rollover contributions); or o tax-free rollover contributions from other Roth individual retirement arrangements; or o tax-free direct custodian-to-custodian transfers from other Roth IRAs ("direct transfers"). If you use the forms we require, we will also accept traditional IRA funds which are subsequently recharacterized as Roth IRA funds following special federal income tax rules. REGULAR CONTRIBUTIONS TO ROTH IRAS LIMITS ON REGULAR CONTRIBUTIONS. The "maximum regular contribution amount" for any taxable year is the most that can be contributed to all of your IRAs (traditional and Roth) as regular contributions for the particular taxable year. The maximum regular contribution amount depends on age, earnings, and year, among other things. Generally, $5,000 is the maximum amount that you may contribute to all IRAs (including Roth IRAs). This limit does not apply to rollover contributions or direct custodian-to-custodian transfers into a Roth IRA. Any contributions to Roth IRAs reduce the ability to contribute to traditional IRAs and vice versa. When your earnings are below $5,000, your earned income or compensation for the year is the most you can contribute. If you are married and file a joint income tax return, you and your spouse may combine your compensation to determine the amount of regular contributions you are permitted to make to Roth IRAs and traditional IRAs. See the discussion above under "Special rules for spouses" earlier in this section under traditional IRAs. If you or your spouse are at least age 50 at any time during the taxable year for which you are making a regular contribution, you may be eligible to make additional catch-up contributions of up to $1,000. With a Roth IRA, you can make regular contributions when you reach age 70-1/2, as long as you have sufficient earnings. But, you cannot make contributions, regardless of your age, for any year that your modified adjusted gross income exceeds the following amounts (indexed for cost of living adjustment): o your federal income tax filing status is "married filing jointly" and your modified adjusted gross income is over $160,000 (for 2008, $169,000 after adjustment); or o your federal income tax filing status is "single" and your modified adjusted gross income is over $110,000 (for 2008, $116,000 after adjustment). However, you can make regular Roth IRA contributions in reduced amounts when: o your federal income tax filing status is "married filing jointly" and your modified adjusted gross income is between $150,000 and $160,000 (for 2008, between $159,000 and $169,000 after adjustment); or o your federal income tax filing status is "single" and your modified adjusted gross income is between $95,000 and $110,000 (for 2008, between $101,000 and $116,000 after adjustment). If you are married and filing separately and your modified adjusted gross income is between $0 and $10,000 the amount of regular contribution you are permitted to make is phased out. If your modified adjusted gross income is more than $10,000 you cannot make a regular Roth IRA contribution. WHEN YOU CAN MAKE CONTRIBUTIONS? Same as traditional IRAs. DEDUCTIBILITY OF CONTRIBUTIONS. Roth IRA contributions are not tax deductible. 50 Tax information ROLLOVERS AND DIRECT TRANSFERS WHAT IS THE DIFFERENCE BETWEEN ROLLOVER AND DIRECT TRANSFER TRANSACTIONS? The difference between a rollover transaction and a direct transfer transaction is the following: in a rollover transaction you actually take possession of the funds rolled over, or are considered to have received them under tax law in the case of a change from one type of plan to another. In a direct transfer transaction, you never take possession of the funds, but direct the first Roth IRA custodian, trustee, or issuer to transfer the first Roth IRA funds directly to the recipient Roth IRA custodian, trustee or issuer. You can make direct transfer transactions only between identical plan types (for example, Roth IRA to Roth IRA). You can also make rollover transactions between identical plan types. However, you can only make rollovers between different plan types (for example, traditional IRA to Roth IRA). You make make rollover contributions to a Roth IRA from these sources only: o another Roth IRA; o a traditional IRA, including a SEP-IRA or SIMPLE IRA (after a two-year rollover limitation period for SIMPLE IRA funds), in a taxable conversion rollover ("conversion rollover"); o a "designated Roth contribution account" under a 401(k) plan or a 403(b) plan (direct or 60-day); or o from non-Roth accounts under another eligible retirement plan subject to limits specified below under "Conversion rollover contributions to Roth IRAs." You may make direct transfer contributions to a Roth IRA only from another Roth IRA. You may make both Roth IRA to Roth IRA rollover transactions and Roth IRA to Roth IRA direct transfer transactions. This can be accomplished on a completely tax-free basis. However, you may make Roth IRA to Roth IRA rollover transactions only once in any 12-month period for the same funds. Trustee-to-trustee or custodian-to-custodian direct transfers can be made more frequently than once a year. Also, if you send us the rollover contribution to apply it to a Roth IRA, you must do so within 60 days after you receive the proceeds from the original IRA to get rollover treatment. The surviving spouse beneficiary of a deceased individual can roll over or directly transfer an inherited Roth IRA to one or more other Roth IRAs. In some cases, Roth IRAs can be transferred on a tax-free basis between spouses or former spouses as a result of a court ordered divorce or separation decree. CONVERSION ROLLOVER CONTRIBUTIONS TO ROTH IRAS In a conversion rollover transaction, you withdraw (or are considered to have withdrawn) all or a portion of funds from a traditional IRA you maintain and convert it to a Roth IRA within 60 days after you receive (or are considered to have received) the traditional IRA proceeds. Beginning in 2008, amounts can also be rolled over from non-Roth accounts under another eligible retirement plan, including a Code Section 401(a) qualified plan, a 403(b) plan, and a governmental employer Section 457(b) plan. You must meet AGI limits specified below. Unlike a rollover from a traditional IRA to another traditional IRA, a conversion rollover transaction from a traditional IRA or other eligible retirement plan to a Roth IRA is not tax-free. Instead, the distribution from the traditional IRA or other eligible retirement plan is generally fully taxable. In the case of a traditional IRA conversion rollover for example, we are required to withhold 10% federal income tax from the amount treated as converted unless you properly elect out of such withholding. If you are converting all or part of a traditional IRA, and you have ever made nondeductible regular contributions to any traditional IRA -- whether or not it is the traditional IRA you are converting -- a pro rata portion of the distribution is tax free. Even if you are under age 59-1/2, the early distribution penalty tax does not apply to conversion rollover contributions to a Roth IRA. The following rules apply until 2010: You cannot make conversion rollover contributions to a Roth IRA for any taxable year in which your modified adjusted gross income exceeds $100,000. (For this purpose, your modified adjusted gross income is computed without the gross income stemming from the conversion rollover. Modified adjusted gross income for this purpose excludes any lifetime required minimum distribution from a traditional IRA or other eligible retirement plan.) You also cannot make conversion contributions to a Roth IRA for any taxable year in which your federal income tax filing status is "married filing separately." You cannot make conversion contributions to a Roth IRA to the extent that the funds in your traditional IRA or other eligible retirement plan are subject to the lifetime annual required minimum distribution rules. You cannot convert and reconvert an amount during the same taxable year, or if later, during the 30-day period following a recharacterization. If you reconvert during either of these periods, it will be a failed Roth IRA conversion. The IRS and Treasury have issued Proposed and Temporary Treasury Regulations addressing the valuation of annuity contracts funding traditional IRAs in the conversion to Roth IRAs. Although these Regulations are not clear, they could require an individual's gross income on the conversion of a traditional IRA to a Roth IRA to be measured using various actuarial methods and not as if the annuity contract funding the traditional IRA had been surrendered at the time of conversion. This could increase the amount reported as includible in certain circumstances. RECHARACTERIZATIONS You may be able to treat a contribution made to one type of IRA as having been made to a different type of IRA. This is called recharacterizing the contribution. HOW TO RECHARACTERIZE. To recharacterize a contribution, you generally must have the contribution transferred from the first IRA (the one to which it was made) to the second IRA in a deemed trustee-to-trustee transfer. If the transfer is made by the due date (including extensions) for your tax return for the year during which the contribution was made, you can elect to treat the contribution as having been originally made to the second IRA instead of to the first IRA. It will be treated as having been made to the second IRA on the same date that Tax information 51 it was actually made to the first IRA. You must report the recharacterization, and must treat the contribution as having been made to the second IRA, instead of the first IRA, on your tax return for the year during which the contribution was made. The contribution will not be treated as having been made to the second IRA unless the transfer includes any net income allocable to the contribution. You can take into account any loss on the contribution while it was in the IRA when calculating the amount that must be transferred. If there was a loss, the net income you must transfer may be a negative amount. No deduction is allowed for the contribution to the first IRA and any net income transferred with the recharacterized contribution is treated as earned in the second IRA. The contribution will not be treated as having been made to the second IRA to the extent any deduction was allowed with respect to the contribution to the first IRA. For recharacterization purposes, a distribution from a traditional IRA that is received in one tax year and rolled over into a Roth IRA in the next year, but still within 60 days of the distribution from the traditional IRA, is treated as a contribution to the Roth IRA in the year of the distribution from the traditional IRA. Roth IRA conversion contributions from a SEP-IRA or SIMPLE IRA can be recharacterized to a SEP-IRA or SIMPLE IRA (including the original SEP-IRA or SIMPLE IRA). You cannot recharacterize back to the original plan a contribution directly rolled over from an eligible retirement plan which is not a traditional IRA. The recharacterization of a contribution is not treated as a rollover for purposes of the 12 month limitation period described above. This rule applies even if the contribution would have been treated as a rollover contribution by the second IRA if it had been made directly to the second IRA rather than as a result of a recharacterization of a contribution to the first IRA. To recharacterize a contribution you must use our forms. WITHDRAWALS, PAYMENTS AND TRANSFERS OF FUNDS OUT OF ROTH IRAS NO FEDERAL INCOME TAX LAW RESTRICTIONS ON WITHDRAWALS. You can withdraw any or all of your funds from a Roth IRA at any time; you do not need to wait for a special event like retirement. DISTRIBUTIONS FROM ROTH IRAS Distributions include withdrawals from your contract, surrender and termination of your contract and annuity payments from your contract. Death benefits are also distributions. You must keep your own records of regular and conversion contributions to all Roth IRAs to assure appropriate taxation. You may have to file information on your contributions to and distributions from any Roth IRA on your tax return. You may have to retain all income tax returns and records pertaining to such contributions and distributions until your interests in all Roth IRAs are distributed. Like traditional IRAs, taxable distributions from a Roth IRA are not entitled to the special favorable ten-year averaging and long-term capital gain treatment available in limited cases to certain distributions from qualified plans. The following distributions from Roth IRAs are free of income tax: o Rollovers from a Roth IRA to another Roth IRA; o Direct transfers from a Roth IRA to another Roth IRA; o "Qualified distributions" from Roth IRAs; and o return of excess contributions or amounts recharacterized to a traditional IRA. QUALIFIED DISTRIBUTIONS FROM ROTH IRAS Qualified distributions from Roth IRAs made because of one of the following four qualifying events or reasons are not includable in income: o you are age 59-1/2 or older; or o you die; or o you become disabled (special federal income tax definition); or o your distribution is a "qualified first-time homebuyer distribution" (special federal income tax definition; $10,000 lifetime total limit for these distributions from all of your traditional and Roth IRAs). You also have to meet a five-year aging period. A qualified distribution is any distribution made after the five-taxable year period beginning with the first taxable year for which you made any contribution to any Roth IRA (whether or not the one from which the distribution is being made). NONQUALIFIED DISTRIBUTIONS FROM ROTH IRAS. Nonqualified distributions from Roth IRAs are distributions that do not meet both the qualifying event and five-year aging period tests described above. If you receive such a distribution, part of it may be taxable. For purposes of determining the correct tax treatment of distributions (other than the withdrawal of excess contributions and the earnings on them), there is a set order in which contributions (including conversion contributions) and earnings are considered to be distributed from your Roth IRA. The order of distributions is as follows: (1) Regular contributions (2) Conversion contributions, on a first-in-first-out basis (generally, total conversions from the earliest year first). These conversion contributions are taken into account as follows: (a) Taxable portion (the amount required to be included in gross income because of conversion) first, and then the (b) Nontaxable portion. (3) Earnings on contributions. Rollover contributions from other Roth IRAs are disregarded for this purpose. Presumably rollover contributions from a "designated Roth contribution account" under a 401(k) plan or a 403(b) arrangement will also be disregarded. To determine the taxable amounts distributed, distributions and contributions are aggregated or grouped and added together as follows: (1) All distributions made during the year from all Roth IRAs you maintain -- within any custodian or issuer -- are added together. (2) All regular contributions made during and for the year (contributions made after the close of the year, but before the due date of 52 Tax information your return) are added together. This total is added to the total undistributed regular contributions made in prior years. (3) All conversion contributions made during the year are added together. For purposes of the ordering rules in the case of any conversion in which the conversion distribution is made in 2008 and the conversion contribution is made in 2009, the conversion contribution is treated as contributed prior to other conversion contributions made in 2009. Any recharacterized contributions that end up in a Roth IRA are added to the appropriate contribution group for the year that the original contribution would have been taken into account if it had been made directly to the Roth IRA. Any recharacterized contribution that ends up in an IRA other than a Roth IRA is disregarded for the purpose of grouping both contributions and distributions. Any amount withdrawn to correct an excess contribution (including the earnings withdrawn) is also disregarded for this purpose. REQUIRED MINIMUM DISTRIBUTIONS Lifetime minimum distribution requirements do not apply. REQUIRED MINIMUM DISTRIBUTIONS AT DEATH Same as traditional IRA under "What are the required minimum distribution payments after you die?", assuming death before the Required Beginning Date. PAYMENTS TO A BENEFICIARY AFTER YOUR DEATH Distributions to a beneficiary generally receive the same tax treatment as if the distribution had been made to you. BORROWING AND LOANS ARE PROHIBITED TRANSACTIONS Same as traditional IRA. EXCESS CONTRIBUTIONS Generally the same as traditional IRA, except that regular contributions made after age 70-1/2 are not "excess contributions." Excess rollover contributions to Roth IRAs are contributions not eligible to be rolled over (for example, conversion contributions from a traditional IRA if your modified adjusted gross income is in excess of $100,000 in the conversion year). You can withdraw or recharacterize any contribution to a Roth IRA before the due date (including extensions) for filing your federal income tax return for the tax year. If you do this, you must also withdraw or recharacterize any earnings attributable to the contribution. EARLY DISTRIBUTION PENALTY TAX Same as traditional IRA. FEDERAL AND STATE INCOME TAX WITHHOLDING AND INFORMATION REPORTING We must withhold federal income tax from distributions from annuity contracts. You may be able to elect out of this income tax withholding in some cases. Generally, we do not have to withhold if your distributions are not taxable. The rate of withholding will depend on the type of distribution and, in certain cases, the amount of your distribution. Any income tax withheld is a credit against your income tax liability. If you do not have sufficient income tax withheld or do not make sufficient estimated income tax payments, you may incur penalties under the estimated income tax rules. You must file your request not to withhold in writing before the payment or distribution is made. Our processing office will provide forms for this purpose. You cannot elect out of withholding unless you provide us with your correct Taxpayer Identification Number and a United States residence address. You cannot elect out of withholding if we are sending the payment out of the United States. You should note the following special situations: o we might have to withhold and/or report on amounts we pay under a free look or cancellation. o we are generally required to withhold on conversion rollovers of traditional IRAs to Roth IRAs, as it is considered a withdrawal from the traditional IRA and is taxable. o we are required to withhold on the gross amount of a distribution from a Roth IRA to the extent it is reasonable for us to believe that a distribution is includable in your gross income. This may result in tax being withheld even though the Roth IRA distribution is ultimately not taxable. You can elect out of withholding as described below. Special withholding rules apply to foreign recipients and United States citizens residing outside the United States. We do not discuss these rules here in detail. However, we may require additional documentation in the case of payments made to non-United States persons and United States persons living abroad prior to processing any requested transaction. Certain states have indicated that state income tax withholding will also apply to payments from the contracts made to residents. In some states, you may elect out of state withholding, even if federal withholding applies. Generally, an election out of federal withholding will also be considered an election out of state withholding. If you need more information concerning a particular state or any required forms, call our processing office at the toll-free number. FEDERAL INCOME TAX WITHHOLDING ON PERIODIC ANNUITY PAYMENTS We withhold differently on "periodic" and "non-periodic" payments. For a periodic annuity payment, for example, unless you specify a different number of withholding exemptions, we withhold assuming that Tax information 53 you are married and claiming three withholding exemptions. If you do not give us your correct Taxpayer Identification Number, we withhold as if you are single with no exemptions. Based on the assumption that you are married and claiming three withholding exemptions, if you receive less than $18,720 in periodic annuity payments in 2008 your payments will generally be exempt from federal income tax withholding. You could specify a different choice of withholding exemption or request that tax be withheld. Your withholding election remains effective unless and until you revoke it. You may revoke or change your withholding election at any time. FEDERAL INCOME TAX WITHHOLDING ON NON-PERIODIC ANNUITY PAYMENTS (WITHDRAWALS) For a non-periodic distribution (total surrender, termination, or partial withdrawal), we generally withhold at a flat 10% rate. We apply that rate to the taxable amount in the case of nonqualified contracts, and to the payment amount in the case of traditional IRAs and Roth IRAs, where it is reasonable to assume an amount is includable in gross income. IMPACT OF TAXES TO AXA EQUITABLE The contracts provide that we may charge Separate Account A for taxes. We do not now, but may in the future set up reserves for such taxes. 54 Tax information 8. More information - -------------------------------------------------------------------------------- ABOUT OUR SEPARATE ACCOUNT A Each variable investment option is a subaccount of our Separate Account A. We established Separate Account A in 1968 under special provisions of the New York Insurance Law. These provisions prevent creditors from any other business we conduct from reaching the assets we hold in our variable investment options for owners of our variable annuity contracts. We are the legal owner of all of the assets in Separate Account A and may withdraw any amounts that exceed our reserves and other liabilities with respect to variable investment options under our contracts. For example, we may withdraw amounts from Separate Account A that represent our investments in Separate Account A or that represent fees and charges under the contracts that we have earned. The results of Separate Account A's operations are accounted for without regard to AXA Equitable's other operations. The amount of some of our obligations under the contracts is based on the assets in Separate Account A. However, the obligations themselves are obligations of AXA Equitable. Separate Account A is registered under the Investment Company Act of 1940 and is registered and classified under that act as a "unit investment trust." The SEC, however, does not manage or supervise AXA Equitable or Separate Account A. Although Separate Account A is registered, the SEC does not monitor the activity of Separate Account A on a daily basis. AXA Equitable is not required to register, and is not registered, as an investment company under the Investment Company Act of 1940. Each subaccount (variable investment option) within Separate Account A that is available under the contract invests solely in Class IB/B shares issued by the corresponding portfolio of its Trust. We reserve the right subject to compliance with laws that apply: (1) to add variable investment options to, or to remove variable investment options from, Separate Account A, or to add other separate accounts; (2) to combine any two or more variable investment options; (3) to transfer the assets we determine to be the shares of the class of contracts to which the contracts belong from any variable investment option to another variable investment option; (4) to operate Separate Account A or any variable investment option as a management investment company under the Investment Company Act of 1940 (in which case, charges and expenses that otherwise would be assessed against an underlying mutual fund would be assessed against Separate Account A or a variable investment option directly); (5) to deregister Separate Account A under the Investment Company Act of 1940; (6) to restrict or eliminate any voting rights as to Separate Account A; (7) to cause one or more variable investment options to invest some or all of their assets in one or more other trusts or investment companies; and (8) to unilaterally change your contract in order to comply with any applicable laws and regulations, including but not limited to changes in the Internal Revenue Code, in Treasury Regulations or in published rulings of the Internal Revenue Service and in Department of Labor regulations Any change in the contract must be in writing and made by our authorized officer. We will provide notice of any contract change. ABOUT THE TRUSTS The Trusts are registered under the Investment Company Act of 1940. They are classified as "open-end management investment companies," more commonly called mutual funds. Each Trust issues different shares relating to each of its portfolios. The Trusts do not impose sales charges or "loads" for buying and selling their shares. All dividends and other distributions on the Trusts' shares are reinvested in full. The Board of Trustees or Board of Directors, as applicable, of each Trust may establish additional portfolios or eliminate existing portfolios at any time. More detailed information about each Trust, its portfolio investment objectives, policies, restrictions, risks, expenses, its Rule 12b-1 Plan relating to its Class IB/B shares, and other aspects of its operations, appears in the prospectuses for each Trust, which generally accompany this prospectus, or in their respective SAIs, which are available upon request. ABOUT OUR FIXED MATURITY OPTIONS RATES TO MATURITY AND PRICE PER $100 OF MATURITY VALUE We can determine the amount required to be allocated to one or more fixed maturity options in order to produce specified maturity values. For example, we can tell you how much you need to allocate per $100 of maturity value. The rates to maturity are determined weekly. The rates in the table below are illustrative only and will most likely differ from the rates applicable at time of purchase. Current rates to maturity can be obtained through TOPS or EQAccess or from your financial professional. The rates to maturity for new allocations as of February 15, 2008 and the related price per $100 of maturity value were as shown below.
- -------------------------------------------------------------------------------- Fixed Maturity Options with June 15th Maturity Date Rate to Maturity as of of Price Per $100 of Maturity Year February 15, 2008 Maturity Value - -------------------------------------------------------------------------------- 2008 3.00% * $ 99.02 2009 3.00% * $ 96.14 2010 3.00% * $ 93.34 2011 3.00% * $ 90.62 2012 3.00% * $ 87.98 2013 3.20% $ 84.53 2014 3.65% $ 79.69 2015 4.05% $ 74.74 2016 4.25% $ 70.68 2017 4.45% $ 66.60 - --------------------------------------------------------------------------------
* Since these rates to maturity are 3%, no amounts could have been allocated to these options. More information 55 HOW WE DETERMINE THE MARKET VALUE ADJUSTMENT We use the following procedure to calculate the market value adjustment (up or down) we make if you withdraw all of your value from a fixed maturity option before its maturity date. (1) We determine the market adjusted amount on the date of the withdrawal as follows: (a) we determine the fixed maturity amount that would be payable on the maturity date, using the rate to maturity for the fixed maturity option. (b) we determine the period remaining in your fixed maturity option (based on the withdrawal date) and convert it to fractional years based on a 365-day year. For example, three years and 12 days becomes 3.0329. (c) we determine the current rate to maturity that applies on the withdrawal date to new allocations to the same fixed maturity option. (d) we determine the present value of the fixed maturity amount payable at the maturity date, using the period determined in (b) and the rate determined in (c). (2) We determine the fixed maturity amount as of the current date. (3) We subtract (2) from the result in (1)(d). The result is the market value adjustment applicable to such fixed maturity option, which may be positive or negative. - -------------------------------------------------------------------------------- Your market adjusted amount is the present value of the maturity value discounted at the rate to maturity in effect for new contributions to that same fixed maturity option on the date of the calculation. - -------------------------------------------------------------------------------- If you withdraw only a portion of the amount in a fixed maturity option, the market value adjustment will be a percentage of the market value adjustment that would have applied if you had withdrawn the entire value in that fixed maturity option. This percentage is equal to the percentage of the value in the fixed maturity option that you are withdrawing. Any withdrawal charges that are deducted from a fixed maturity option will result in a market value adjustment calculated in the same way. See Appendix III at the end of this prospectus for an example. For purposes of calculating the rate to maturity for new allocations to a fixed maturity option (see (1)(c) above), we use the rate we have in effect for new allocations to that fixed maturity option. We use this rate even if new allocations to that option would not be accepted at that time. This rate will not be less than 3%. If we do not have a rate to maturity in effect for a fixed maturity option to which the "current rate to maturity" in (1)(c) above would apply, we will use the rate at the next closest maturity date. If we are no longer offering new fixed maturity options, the "current rate to maturity" will be determined in accordance with our procedures then in effect. We reserve the right to add up to 0.50% to the current rate in (1)(c) above for purposes of calculating the market value adjustment only. INVESTMENTS UNDER THE FIXED MATURITY OPTIONS Amounts allocated to the fixed maturity options are held in a "nonunitized" separate account we have established under the New York Insurance Law. This separate account provides an additional measure of assurance that we will make full payment of amounts due under the fixed maturity options. Under New York Insurance Law, the portion of the separate account's assets equal to the reserves and other contract liabilities relating to the contracts are not chargeable with liabilities from any other business we may conduct. We own the assets of the separate account, as well as any favorable investment performance on those assets. You do not participate in the performance of the assets held in this separate account. We may, subject to state law that applies, transfer all assets allocated to the separate account to our general account. We guarantee all benefits relating to your value in the fixed maturity options, regardless of whether assets supporting fixed maturity options are held in a separate account or our general account. We have no specific formula for establishing the rates to maturity for the fixed maturity options. We expect the rates to be influenced by, but not necessarily correspond to, among other things, the yields that we can expect to realize on the separate account's investments from time to time. Our current plans are to invest in fixed-income obligations, including corporate bonds, mortgage-backed and asset-backed securities and government and agency issues having durations in the aggregate consistent with those of the fixed maturity options. Although the above generally describes our plans for investing the assets supporting our obligations under the fixed maturity options under the contracts, we are not obligated to invest those assets according to any particular plan except as we may be required to by state insurance laws. We will not determine the rates to maturity we establish by the performance of the nonunitized separate account. ABOUT THE GENERAL ACCOUNT Our general account supports all of our policy and contract guarantees, including those that apply to the fixed maturity options, as well as our general obligations. The general account is subject to regulation and supervision by the Insurance Department of the State of New York and to the insurance laws and regulations of all jurisdictions where we are authorized to do business. Interests under the contracts in the general account have not been registered and are not required to be registered under the Securities Act of 1933 because of exemptions and exclusionary provisions that apply. The general account is not required to register as an investment company under the Investment Company Act of 1940 and it is not registered as an investment company under the Investment Company Act of 1940. The market value adjustment interests under the contracts, which are held in a separate account, are issued by AXA Equitable and are registered under the Securities Act of 1933. The contract is a "covered security" under the federal securities laws. We have been advised that the staff of the SEC has not reviewed the portions of this prospectus that relate to the general account. The disclosure with regard to the general account, however, may be subject to certain provisions of the federal securities laws relating to the accuracy and completeness of statements made in prospectuses. 56 More information ABOUT OTHER METHODS OF PAYMENT AUTOMATIC INVESTMENT PROGRAM -- FOR NQ, TRADITIONAL IRA, AND ROTH IRA CONTRACTS You may use our automatic investment program, or "AIP," to have a specified amount automatically deducted from a bank checking or savings account, money market checking or savings account, or credit union checking or savings account and contributed as an additional contribution into an NQ, traditional IRA, or Roth IRA contract on a monthly basis. Contributions to all forms of IRAs are subject to the limitations and requirements discussed in "Tax information" earlier in this prospectus. AIP additional contributions may be allocated to any of the variable investment options but not the fixed maturity options. Our minimum contribution amount requirement is $20. You choose the day of the month you wish to have your account debited. However, you may not choose a date later than the 28th day of the month. You may cancel AIP at any time by notifying our processing office. We are not responsible for any debits made to your account before the time written notice of cancellation is received at our processing office. PAYROLL DEDUCTION PROGRAM. You can authorize your employer to remit your NQ, traditional IRA and Roth IRA contributions to us if your employer has a payroll deduction program. Those contributions are still your contributions, not your employer's. WIRE TRANSFERS. You may also send your contributions by wire transfer from your bank. DATES AND PRICES AT WHICH CONTRACT EVENTS OCCUR We describe below the general rules for when, and at what prices, events under your contract will occur. Other portions of this prospectus describe circumstances that may cause exceptions. We generally do not repeat those exceptions below. BUSINESS DAY Our "business day" is generally any day the New York Stock Exchange ("NYSE") is open for regular trading and generally ends at 4:00 p.m. Eastern Time (or as of an earlier close of regular trading). A business day does not include a day on which we are not open due to emergency conditions determined by the Securities and Exchange Commission. We may also close early due to such emergency conditions. Contributions will be applied and any other transaction requests will be processed when they are received along with all the required information unless another date applies as indicated below. o If your contribution, transfer or any other transaction request containing all the required information reaches us on any of the following, we will use the next business day: - on a non-business day: - after 4:00 PM, Eastern Time on a business day; or - after an early close of regular trading on the NYSE on a business day. o When a charge is to be deducted on a contract date anniversary that is a non-business day, we will deduct the charge on the next business day. CONTRIBUTIONS, TRANSFERS, WITHDRAWALS AND SURRENDERS o Contributions allocated to the variable investment options are invested at the unit value next determined after the receipt of the contribution. o Contributions allocated to a fixed maturity option will receive the rate to maturity in effect for that fixed maturity option on that business day. o If a fixed maturity option is scheduled to mature on June 15th and June 15th is a non-business day, that fixed maturity option will mature on the prior business day. o Transfers to or from variable investment options will be made at the unit value next determined after the receipt of the transfer request. o Transfers to a fixed maturity option will receive the rate to maturity in effect for that fixed maturity option on that business day. o Transfers out of a fixed maturity option will be at the market adjusted amount on that business day. o For general dollar-cost averaging, the first monthly transfer will occur on the last business day of the month in which we receive your election form at our processing office. o Quarterly rebalancing will be processed on a calendar year basis. Semiannual or annual rebalancing will be processed on the first business day of the month. Rebalancing will not be done retroactively. o Requests for withdrawals or surrenders will occur on the business day that we receive the information that we require. ABOUT YOUR VOTING RIGHTS As the owner of shares of the Trusts we have the right to vote on certain matters involving the portfolios, such as: o the election of trustees; o the formal approval of independent auditors selected for each Trust; or o any other matters described in the prospectus for each Trust or requiring a shareholders' vote under the Investment Company Act of 1940. We will give contract owners the opportunity to instruct us how to vote the number of shares attributable to their contracts if a shareholder vote is taken. If we do not receive instructions in time from all contract owners, we will vote the shares of a portfolio for which no instructions have been received in the same proportion as we vote shares of that portfolio for which we have received instructions. We will also vote any shares that we are entitled to vote directly because of amounts we have in a portfolio in the same proportions that contract owners vote. The Trusts sell their shares to AXA Equitable separate accounts in connection with AXA Equitable's variable annuity and/or life insurance products, and to separate accounts of insurance companies, both affiliated and unaffiliated with AXA Equitable. AXA Premier VIP Trust and EQ Advisors Trust also sell their shares to the trustee of a qualified plan for AXA Equitable. We currently do not foresee any disadvantages to More information 57 our contract owners arising out of these arrangements. However, the Board of Trustees or Directors of each Trust intend to monitor events to identify any material irreconcilable conflicts that may arise and to determine what action, if any, should be taken in response. If we believe that a Board's response insufficiently protects our contract owners, we will see to it that appropriate action is taken to do so. SEPARATE ACCOUNT A VOTING RIGHTS If actions relating to Separate Account A require contract owner approval, contract owners will be entitled to one vote for each unit they have in the variable investment options. Each contract owner who has elected a variable annuity payout option may cast the number of votes equal to the dollar amount of reserves we are holding for that annuity in a variable investment option divided by the annuity unit value for that option. We will cast votes attributable to any amounts we have in the variable investment options in the same proportion as votes cast by contract owners. CHANGES IN APPLICABLE LAW The voting rights we describe in this prospectus are created under applicable federal securities laws. To the extent that those laws or the regulations published under those laws eliminate the necessity to submit matters for approval by persons having voting rights in separate accounts of insurance companies, we reserve the right to proceed in accordance with those laws or regulations. ABOUT LEGAL PROCEEDINGS AXA Equitable and its affiliates are parties to various legal proceedings. In our view, none of these proceedings would be considered material with respect to a contract owner's interest in Separate Account A, nor would any of these proceedings be likely to have a material adverse effect upon Separate Account A, our ability to meet our obligations under the contracts, or the distribution of the contracts. FINANCIAL STATEMENTS The financial statements of Separate Account A, as well as the consolidated financial statements of AXA Equitable, are in the SAI. The SAI is available free of charge. You may request one by writing to our processing office or calling (800) 628-6673. TRANSFERS OF OWNERSHIP, COLLATERAL ASSIGNMENTS, LOANS, AND BORROWING You can transfer ownership of an NQ contract at any time before annuity payments begin. We will continue to treat you as the owner until we receive written notification of any change at our processing office. In some cases, an assignment or change of ownership may have adverse tax consequences. See "Tax information" earlier in this prospectus. You cannot assign or transfer ownership of a traditional IRA or Roth IRA contract except by surrender to us. You cannot assign your contract as collateral or security for a loan. Loans are also not available under your contract. For limited transfers of ownership after the owner's death see "Beneficiary continuation option" in "Payment of death benefit" earlier in this prospectus. You may direct the transfer of the values under your traditional IRA or Roth IRA contract to another similar arrangement under federal income tax rules. In the case of such a transfer, which involves a surrender of your contract, we will impose a withdrawal charge if one applies. DISTRIBUTION OF THE CONTRACTS The contracts are distributed by both AXA Advisors, LLC ("AXA Advisors") and AXA Distributors, LLC ("AXA Distributors") (together, the "Distributors"). The Distributors serve as principal underwriters of Separate Account A. The offering of the contracts is intended to be continuous. AXA Advisors is an affiliate of AXA Equitable, and AXA Distributors is an indirect wholly owned subsidiary of AXA Equitable. The Distributors are under the common control of AXA Financial, Inc. Their principal business address is 1290 Avenue of the Americas, New York, NY 10104. The Distributors are registered with the SEC as broker-dealers and are members of the Financial Industry Regulatory Authority, Inc. ("FINRA"). Both broker-dealers also act as distributors for other AXA Equitable life and annuity products. The contracts are sold by financial professionals of AXA Advisors and its affiliates. The contracts are also sold by financial professionals of both affiliated and unaffiliated broker-dealers that have entered into selling agreements with the Distributors ("Selling broker-dealers"). AXA Equitable pays compensation to both Distributors based on contracts sold. Compensation paid to AXA Advisors is based on contributions made on the contracts sold through AXA Advisors ("contribution-based compensation") and will generally not exceed 8.5% of total contributions. AXA Advisors, in turn, may pay a portion of the contribution-based compensation received from AXA Equitable on the sale of a contract to the AXA Advisors financial professional and/or Selling broker-dealer making the sale. In some instances, a financial professional or Selling broker-dealer may elect to receive reduced contribution-based compensation on a contract in combination with ongoing annual compensation of up to 0.60% of the account value of the contract sold ("asset-based compensation"). Total compensation paid to a financial professional or a Selling broker-dealer electing to receive both contribution-based and asset-based compensation could over time exceed the total compensation that would otherwise be paid on the basis of contributions alone. The contribution-based and asset-based compensation paid by AXA Advisors varies among financial professionals and among Selling broker-dealers. Contribution-based compensation paid by AXA Equitable to AXA Distributors on sales of AXA Equitable contracts by its Selling broker-dealers will generally not exceed 6.5% of the total contributions made under the contracts. AXA Distributors, in turn, pays the contribution-based compensation it receives on the sale of a contract to the Selling broker-dealer making the sale. In some instances, the Selling broker-dealer may elect to receive reduced contribution-based compensation on the sale of a contract in combination with annual asset-based compensation of up to 0.60% of contract account value. If a Selling broker-dealer elects to receive reduced contribution-based compensation on a contract, the contribution-based compensation which AXA Equitable 58 More information pays to AXA Distributors will be reduced by the same amount and AXA Equitable will pay AXA Distributors asset-based compensation on the contract equal to the asset-based compensation which AXA Distributors pays to the Selling broker-dealer. Total compensation paid to a Selling broker-dealer electing to receive both contribution-based and asset-based compensation could over time exceed the total compensation that would otherwise be paid on the basis of contributions alone. The contribution-based and asset-based compensation paid by AXA Distributors varies among Selling broker-dealers. AXA Distributors also receives compensation and reimbursement for its marketing services under the terms of its distribution agreement with AXA Equitable. The Distributors may pay certain affiliated and/or unaffiliated Selling broker-dealers and other financial intermediaries additional compensation in recognition of certain expenses that may be incurred by them or on their behalf. The Distributors may also pay certain broker-dealers or other financial intermediaries additional compensation for enhanced marketing opportunities and other services (commonly referred to as "marketing allowances"). Services for which such payments are made may include, but are not limited to, the preferred placement of AXA Equitable and/or EQUI-VEST(SM) Express on a company and/or product list; sales personnel training; product training; business reporting; technological support; due diligence and related costs; advertising, marketing and related services; conferences; and/or other support services, including some that may benefit the contract owner. Payments may be based on the amount of assets or purchase payments attributable to contracts sold through a Selling broker-dealer or such payments may be a fixed amount. The Distributors may also make fixed payments to Selling broker-dealers in connection with the initiation of a new relationship or the introduction of a new product. These payments may serve as an incentive for Selling broker-dealers to promote the sale of particular products. Additionally, as an incentive for financial professionals of Selling broker-dealers to promote the sale of AXA Equitable products, the Distributors may increase the sales compensation paid to the Selling broker-dealer for a period of time (commonly referred to as "compensation enhancements"). Marketing allowances and sales incentives are made out of the Distributors' assets. Not all Selling broker-dealers receive these kinds of payments. For more information about any such arrangements, ask your financial professional. The Distributors receive 12b-1 fees from certain portfolios for providing certain distribution and/or shareholder support services. The Distributors or their affiliates may also receive payments from the advisers of the portfolios or their affiliates to help defray expenses for sales meetings or seminar sponsorships that may relate to the contracts and/or the advisers' respective portfolios. In an effort to promote the sale of our products, AXA Advisors may provide its financial professionals and managerial personnel with a higher percentage of sales commissions and/or cash compensation for the sale of an affiliated variable product than it would the sale of an unaffiliated product. Such practice is known as providing "differential compensation." In addition, managerial personnel may receive expense reimbursements, marketing allowances and commission-based payments known as "overrides." Certain components of the compensation of financial professionals who are managers are based on the sale of affiliated variable products. Managers earn higher compensation (and credits toward awards and bonuses) if those they manage sell more affiliated variable products. AXA Advisors may provide other forms of compensation to its financial professionals, including health and retirement benefits. For tax reasons, AXA Advisors financial professionals qualify for health and retirement benefits based solely on their sales of our affiliated products. These payments and differential compensation (together, the "payments") can vary in amount based on the applicable product and/or entity or individual involved. As with any incentive, such payments may cause the financial professional to show preference in recommending the purchase or sale of AXA Equitable products. However, under applicable rules of FINRA, AXA Advisors may only recommend to you products that they reasonably believe are suitable for you based on facts that you have disclosed as to your other security holdings, financial situation and needs. In making any recommendation, financial professionals of AXA Advisors may nonetheless face conflicts of interest because of the differences in compensation from one product category to another, and because of differences in compensation between products in the same category. In addition, AXA Advisors may offer sales incentive programs to financial professionals who meet specified production levels for the sale of both affiliated and unaffiliated products which provide non-cash compensation such as stock options awards and/or stock appreciation rights, expense-paid trips, expense-paid educational seminars and merchandise. Although AXA Equitable takes all of its costs into account in establishing the level of fees and expenses in its products, any contribution-based and asset-based compensation paid by AXA Equitable to the Distributors will not result in any separate charge to you under your contract. All payments made will be in compliance with all applicable FINRA rules and other laws and regulations. More information 59 9. Incorporation of certain documents by reference - -------------------------------------------------------------------------------- AXA Equitable's Annual Report on Form 10-K for the period ended December 31, 2007 (the "Annual Report") is considered to be part of this Prospectus because it is incorporated by reference. AXA Equitable intends to send owners account statements and other such legally-required reports. AXA Equitable does not anticipate such reports will include periodic financial statements or information concerning AXA Equitable. AXA Equitable files reports and other information with the SEC, as required by law. You may read and copy this information at the SEC's public reference facilities at Room 1580, 100 F Street, NE, Washington, DC 20549, or by accessing the SEC's website at www.sec.gov. The public may obtain information on the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0330. Under the Securities Act of 1933, AXA Equitable has filed with the SEC a registration statement relating to the Market Value Adjustment (the "Registration Statement"). This prospectus has been filed as part of the Registration Statement and does not contain all of the information set forth in the Registration Statement. Please see the Registration Statement for additional information concerning the Market Value Adjustment. The Annual Report includes the audited consolidated financial statements of AXA Equitable at December 31, 2007 and 2006 and for each of the three years in the period ended December 31, 2007 (the "AXA Equitable Financial Statements"). The AXA Equitable Financial Statements are included in the Annual Report and incorporated by reference into this prospectus in reliance on the report of PricewaterhouseCoopers LLP, an independent registered public accounting firm. The AXA Equitable Financial Statements are also included in the Annual Report and incorporated by reference into this prospectus in reliance on the reports of KPMG LLP, an independent registered public accounting firm, on (i) the Consolidated Statements of Income, Changes in Partners' Capital and Comprehensive Income, and Cash Flows of AllianceBernstein L.P. and (ii) the Statements of Income, Changes in Partners' Capital and Comprehensive Income, and Cash Flows of AllianceBernstein Holding L.P. (together "AllianceBernstein", formerly "Alliance") for the year ended December 31, 2005. The reports are given on the authority of said firms as experts in auditing and accounting. KPMG LLP was AllianceBernstein's independent registered public accounting firm for the year ended December 31, 2005. On March 8, 2006, KPMG LLP was terminated, and PricewaterhouseCoopers LLP was appointed as AllianceBernstein's independent registered public accounting firm, as disclosed on AXA Equitable's Report on Form 8-K filed on March 13, 2006. AllianceBernstein Corporation, an indirect wholly owned subsidiary of AXA Equitable, is the general partner of both AllianceBernstein L.P. and AllianceBernstein Holding L.P. Any statement contained in a document that is, or becomes part of this prospectus, will be considered changed or replaced for purposes of this prospectus if a statement contained in this prospectus changes or is replaced. Any statement that is considered to be a part of this prospectus because of its incorporation will be considered changed or replaced for the purpose of this prospectus if a statement contained in any other subsequently filed document that is considered to be part of this prospectus changes or replaces that statement. After that, only the statement that is changed or replaced will be considered to be part of this prospectus. We file our Exchange Act documents and reports, including our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, electronically according to EDGAR under CIK No. 0000727920. The SEC maintains a website that contains reports, proxy and information statements and other information regarding registrants that file electronically with the SEC. The address of the site is http://www.sec.gov. Upon written or oral request, we will provide, free of charge, to each person to whom this prospectus is delivered a copy of any or all of the documents considered to be part of this prospectus because they are incorporated herein. This does not include exhibits not specifically incorporated by reference into the text of such documents. Requests for documents should be directed to AXA Equitable Life Insurance Company,1290 Avenue of the Americas, New York, New York 10104. Attention: Corporate Secretary (telephone: (212) 554-1234). 60 Incorporation of certain documents by reference Appendix I: QP IRA contracts - -------------------------------------------------------------------------------- The following provides information on the features and benefits of QP IRA contracts that are different than the features and benefits described in the prospectus for traditional IRA contracts under EQUI-VEST(SM) Express. QP IRA contracts are not available to new purchasers and this information is applicable to existing contract holders only.
- ------------------------------------------------------------------------------------------------------------------------------------ Features and benefits Availability or variation - ------------------------------------------------------------------------------------------------------------------------------------ Source of contributions o Rollovers from an eligible retirement plan (a qualified plan, 403(b) plan or governmental employer Section 457(b) plan. o Rollovers from a TSA. o The QP IRA contract is intended to be a conduit IRA to be used primarily for rollover contributions from a qualified plan or TSA, although we accept regular IRA contributions. Limits are described earlier in this prospectus under "Traditional individual retirement annuities (traditional IRAs)". - ------------------------------------------------------------------------------------------------------------------------------------ Minimum contributions $50 each rollover amount. - ------------------------------------------------------------------------------------------------------------------------------------ Limitations on contributions Rollover contributions after age 70-1/2 must be net of required minimum distributions. - ------------------------------------------------------------------------------------------------------------------------------------ Taxation of payments The QP IRA is used as a conduit IRA so that amounts are not commingled. If you are Federal income tax withholding eligible for ten year averaging and long term capital gains treatment of distributions from a qualified plan, you may be able to preserve such treatment even though an eligible rollover from a qualified plan is temporarily rolled into a conduit IRA, such as a QP IRA, before rolling it back into a qualified plan. See your tax adviser. - ------------------------------------------------------------------------------------------------------------------------------------
Appendix I: QP IRA contracts I-1 Appendix II: Condensed financial information - -------------------------------------------------------------------------------- The unit values and numbers of units outstanding shown below are for contracts offered under Separate Account A with the same daily asset charge of 0.95%.
UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007. For the years ending December 31, ---------------------------------------------------- 1999 2000 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Aggressive Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ AXA Conservative Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ AXA Conservative-Plus Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ AXA Moderate Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 108.71 $ 105.98 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 2 34 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Moderate-Plus Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Common Stock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 111.02 $ 94.30 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 25 296 - ------------------------------------------------------------------------------------------------------------------------------------ AllianceBernstein Intermediate Government Securities - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 100.40 $ 108.29 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 3 10 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein International - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 126.71 $ 96.46 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 33 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Large Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 116.53 $ 94.20 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 21 242 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Quality Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 99.28 $ 109.43 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 4 26 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Small Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 130.79 $ 147.23 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 63 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Ariel Appreciation II - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AXA Rosenberg Value Long/Short Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, ---------------------------------------------------- 2001 2002 2003 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Aggressive Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 109.26 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ AXA Conservative Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 102.25 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ AXA Conservative-Plus Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 104.25 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Moderate Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 102.76 $ 88.83 $ 104.83 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 136 231 220 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Moderate-Plus Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 108.07 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 3 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Common Stock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 83.37 $ 55.05 $ 81.55 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 387 365 407 - ------------------------------------------------------------------------------------------------------------------------------------ AllianceBernstein Intermediate Government Securities - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 115.71 $ 124.46 $ 125.92 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 68 145 145 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein International - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 73.27 $ 65.24 $ 87.35 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 48 189 208 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Large Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 70.94 $ 48.38 $ 59.03 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 305 265 237 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Quality Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 117.07 $ 124.85 $ 128.04 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 113 132 129 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Small Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 126.52 $ 87.42 $ 122.04 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 129 150 155 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 101.04 $ 86.43 $ 110.22 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 45 98 130 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Ariel Appreciation II - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AXA Rosenberg Value Long/Short Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 99.56 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, ---------------------------------------------------- 2004 2005 2006 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Aggressive Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 120.98 $ 129.49 $ 151.22 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 10 23 63 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Conservative Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 107.39 $ 108.97 $ 114.81 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 8 10 19 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Conservative-Plus Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 111.26 $ 113.78 $ 122.57 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 13 22 34 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Moderate Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 112.89 $ 117.18 $ 128.05 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 239 237 273 - ------------------------------------------------------------------------------------------------------------------------------------ AXA Moderate-Plus Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 119.55 $ 126.32 $ 143.27 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 36 105 237 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Common Stock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 92.18 $ 95.23 $ 104.41 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 449 456 428 - ------------------------------------------------------------------------------------------------------------------------------------ AllianceBernstein Intermediate Government Securities - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 127.14 $ 127.49 $ 130.22 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 129 122 114 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein International - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 102.24 $ 116.76 $ 142.86 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 220 238 259 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Large Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 63.37 $ 72.15 $ 71.07 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 207 184 174 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Quality Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 131.58 $ 132.94 $ 136.71 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 122 116 112 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Small Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 137.78 $ 152.18 $ 164.31 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 157 151 141 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 123.84 $ 129.34 $ 155.52 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 177 211 248 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Ariel Appreciation II - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 103.72 $ 114.21 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 4 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AXA Rosenberg Value Long/Short Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 102.19 $ 108.82 $ 109.35 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 9 12 - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, ------------------------------------- 2007 - --------------------------------------------------------------------------------------------------------------------- AXA Aggressive Allocation - --------------------------------------------------------------------------------------------------------------------- Unit value $ 159.02 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 111 - --------------------------------------------------------------------------------------------------------------------- AXA Conservative Allocation - --------------------------------------------------------------------------------------------------------------------- Unit value $ 120.31 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 40 - --------------------------------------------------------------------------------------------------------------------- AXA Conservative-Plus Allocation - --------------------------------------------------------------------------------------------------------------------- Unit value $ 128.07 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 64 - --------------------------------------------------------------------------------------------------------------------- AXA Moderate Allocation - --------------------------------------------------------------------------------------------------------------------- Unit value $ 134.78 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 285 - --------------------------------------------------------------------------------------------------------------------- AXA Moderate-Plus Allocation - --------------------------------------------------------------------------------------------------------------------- Unit value $ 150.97 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 385 - --------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock - --------------------------------------------------------------------------------------------------------------------- Unit value $ 107.01 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 407 - --------------------------------------------------------------------------------------------------------------------- AllianceBernstein Intermediate Government Securities - --------------------------------------------------------------------------------------------------------------------- Unit value $ 137.83 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 98 - --------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein International - --------------------------------------------------------------------------------------------------------------------- Unit value $ 158.09 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 268 - --------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Large Cap Growth - --------------------------------------------------------------------------------------------------------------------- Unit value $ 80.24 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 149 - --------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Quality Bond - --------------------------------------------------------------------------------------------------------------------- Unit value $ 141.55 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 111 - --------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Small Cap Growth - --------------------------------------------------------------------------------------------------------------------- Unit value $ 189.90 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 126 - --------------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Value - --------------------------------------------------------------------------------------------------------------------- Unit value $ 147.02 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 494 - --------------------------------------------------------------------------------------------------------------------- EQ/Ariel Appreciation II - --------------------------------------------------------------------------------------------------------------------- Unit value $ 111.79 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 4 - --------------------------------------------------------------------------------------------------------------------- EQ/AXA Rosenberg Value Long/Short Equity - --------------------------------------------------------------------------------------------------------------------- Unit value $ 111.87 - --------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 14 - ---------------------------------------------------------------------------------------------------------------------
II-1 Appendix II: Condensed financial information
UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007. For the years ending December 31, -------------------------------------------- 1999 2000 - ---------------------------------------------------------------------------------------------------------------------------- EQ/BlackRock Basic Value Equity - ---------------------------------------------------------------------------------------------------------------------------- Unit value $ 97.22 $ 107.68 - ---------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 5 31 - ---------------------------------------------------------------------------------------------------------------------------- EQ/BlackRock International Value - ---------------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ---------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ---------------------------------------------------------------------------------------------------------------------------- EQ/Boston Advisors Equity Income - ---------------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ---------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ---------------------------------------------------------------------------------------------------------------------------- EQ/Calvert Socially Responsible - ---------------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ---------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ---------------------------------------------------------------------------------------------------------------------------- EQ/Capital Guardian Growth - ---------------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ---------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ---------------------------------------------------------------------------------------------------------------------------- EQ/Capital Guardian Research - ---------------------------------------------------------------------------------------------------------------------------- Unit value $106.94 $ 112.19 - ---------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 4 - ---------------------------------------------------------------------------------------------------------------------------- EQ/Caywood-Scholl High Yield Bond - ---------------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ---------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ---------------------------------------------------------------------------------------------------------------------------- EQ/Davis New York Venture - ---------------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ---------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ---------------------------------------------------------------------------------------------------------------------------- EQ/Equity 500 Index - ---------------------------------------------------------------------------------------------------------------------------- Unit value $106.17 $ 94.85 - ---------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) 9 78 - ---------------------------------------------------------------------------------------------------------------------------- EQ/Evergreen International Bond - ---------------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ---------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ---------------------------------------------------------------------------------------------------------------------------- EQ/Evergreen Omega - ---------------------------------------------------------------------------------------------------------------------------- Unit value $106.73 $ 93.34 - ---------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 1 - ---------------------------------------------------------------------------------------------------------------------------- EQ/FI Mid Cap - ---------------------------------------------------------------------------------------------------------------------------- Unit value -- $ 100.11 - ---------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- 7 - ---------------------------------------------------------------------------------------------------------------------------- EQ/Franklin Income - ---------------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ---------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ---------------------------------------------------------------------------------------------------------------------------- EQ/Franklin Small Cap Value - ---------------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ---------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ---------------------------------------------------------------------------------------------------------------------------- EQ/Franklin Templeton Founding Strategy - ---------------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ---------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ---------------------------------------------------------------------------------------------------------------------------- EQ/GAMCO Mergers and Acquisitions - ---------------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ---------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ---------------------------------------------------------------------------------------------------------------------------- EQ/GAMCO Small Company Value - ---------------------------------------------------------------------------------------------------------------------------- Unit value -- -- - ---------------------------------------------------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - ---------------------------------------------------------------------------------------------------------------------------- For the years ending December 31, ---------------------------------------------------- 2001 2002 2003 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/BlackRock Basic Value Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 112.55 $ 92.90 $ 120.73 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 88 131 142 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/BlackRock International Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 76.53 $ 97.06 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 97 102 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Boston Advisors Equity Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Calvert Socially Responsible - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 81.77 $ 103.63 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 2 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 54.57 $ 67.01 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 4 7 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Research - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 108.87 $ 81.24 $ 105.81 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 9 59 61 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Caywood-Scholl High Yield Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Davis New York Venture - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Equity 500 Index - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 82.52 $ 63.43 $ 80.31 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 139 183 191 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Evergreen International Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Evergreen Omega - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 76.72 $ 57.74 $ 79.04 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 3 6 14 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/FI Mid Cap - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 85.86 $ 69.34 $ 98.63 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 77 119 151 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Small Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Templeton Founding Strategy - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/GAMCO Mergers and Acquisitions - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/GAMCO Small Company Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, ---------------------------------------------------- 2004 2005 2006 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/BlackRock Basic Value Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 132.22 $ 134.83 $ 161.48 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 168 168 160 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/BlackRock International Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 116.95 $ 128.39 $ 159.84 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 114 159 179 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Boston Advisors Equity Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 107.07 $ 112.58 $ 129.31 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 2 24 34 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Calvert Socially Responsible - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 106.33 $ 114.53 $ 119.37 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 2 2 4 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 70.04 $ 72.92 $ 77.58 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 6 10 17 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Research - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 116.23 $ 122.10 $ 135.53 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 68 66 58 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Caywood-Scholl High Yield Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 104.25 $ 111.48 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 12 30 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Davis New York Venture - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Equity 500 Index - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 87.69 $ 90.68 $ 103.37 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 217 220 217 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Evergreen International Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 97.59 $ 99.97 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 1 17 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Evergreen Omega - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 83.80 $ 86.29 $ 90.49 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 35 37 30 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/FI Mid Cap - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 113.35 $ 119.43 $ 131.93 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 182 198 203 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 104.41 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 9 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Small Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 108.35 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Franklin Templeton Founding Strategy - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/GAMCO Mergers and Acquisitions - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 105.32 $ 117.06 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 3 14 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/GAMCO Small Company Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 113.33 $ 117.10 $ 137.84 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 3 26 38 - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, ---------------------------------- 2007 - ------------------------------------------------------------------------------------------------------------------ EQ/BlackRock Basic Value Equity - ------------------------------------------------------------------------------------------------------------------ Unit value $ 161.83 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 155 - ------------------------------------------------------------------------------------------------------------------ EQ/BlackRock International Value - ------------------------------------------------------------------------------------------------------------------ Unit value $ 174.45 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 183 - ------------------------------------------------------------------------------------------------------------------ EQ/Boston Advisors Equity Income - ------------------------------------------------------------------------------------------------------------------ Unit value $ 132.81 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 31 - ------------------------------------------------------------------------------------------------------------------ EQ/Calvert Socially Responsible - ------------------------------------------------------------------------------------------------------------------ Unit value $ 132.58 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 5 - ------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Growth - ------------------------------------------------------------------------------------------------------------------ Unit value $ 81.04 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 20 - ------------------------------------------------------------------------------------------------------------------ EQ/Capital Guardian Research - ------------------------------------------------------------------------------------------------------------------ Unit value $ 136.45 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 117 - ------------------------------------------------------------------------------------------------------------------ EQ/Caywood-Scholl High Yield Bond - ------------------------------------------------------------------------------------------------------------------ Unit value $ 113.52 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 44 - ------------------------------------------------------------------------------------------------------------------ EQ/Davis New York Venture - ------------------------------------------------------------------------------------------------------------------ Unit value $ 97.18 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 12 - ------------------------------------------------------------------------------------------------------------------ EQ/Equity 500 Index - ------------------------------------------------------------------------------------------------------------------ Unit value $ 107.46 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 217 - ------------------------------------------------------------------------------------------------------------------ EQ/Evergreen International Bond - ------------------------------------------------------------------------------------------------------------------ Unit value $ 108.23 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 42 - ------------------------------------------------------------------------------------------------------------------ EQ/Evergreen Omega - ------------------------------------------------------------------------------------------------------------------ Unit value $ 99.78 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 33 - ------------------------------------------------------------------------------------------------------------------ EQ/FI Mid Cap - ------------------------------------------------------------------------------------------------------------------ Unit value $ 141.16 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 202 - ------------------------------------------------------------------------------------------------------------------ EQ/Franklin Income - ------------------------------------------------------------------------------------------------------------------ Unit value $ 105.55 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 82 - ------------------------------------------------------------------------------------------------------------------ EQ/Franklin Small Cap Value - ------------------------------------------------------------------------------------------------------------------ Unit value $ 98.06 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 5 - ------------------------------------------------------------------------------------------------------------------ EQ/Franklin Templeton Founding Strategy - ------------------------------------------------------------------------------------------------------------------ Unit value $ 95.40 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 34 - ------------------------------------------------------------------------------------------------------------------ EQ/GAMCO Mergers and Acquisitions - ------------------------------------------------------------------------------------------------------------------ Unit value $ 119.91 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 21 - ------------------------------------------------------------------------------------------------------------------ EQ/GAMCO Small Company Value - ------------------------------------------------------------------------------------------------------------------ Unit value $ 149.22 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 71 - ------------------------------------------------------------------------------------------------------------------
Appendix II: Condensed financial information II-2
UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007. For the years ending December 31, ---------------------------------------------------- 1999 2000 2001 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/International Core PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/International Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/JPMorgan Core Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/JPMorgan Value Opportunities - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 92.44 $ 97.78 $ 90.25 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 6 13 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Large Cap Core PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $104.63 $ 102.92 $ 85.65 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 12 17 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Large Cap Growth PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $157.69 $ 126.78 $ 82.81 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 17 181 204 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Legg Mason Value Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Long Term Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Growth and Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Large Cap Core - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Mid Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Marsico Focus - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 106.00 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Mid Cap Value PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $106.09 $ 110.49 $ 113.81 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 13 105 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Money Market - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $101.49 $ 106.56 $ 109.30 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 43 139 270 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Montag & Caldwell Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Mutual Shares - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Global - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, ---------------------------------------------------- 2002 2003 2004 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/International Core PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 84.22 $ 110.63 $ 124.50 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 5 18 38 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/International Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/JPMorgan Core Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 107.49 $ 110.05 $ 113.47 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 35 76 116 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/JPMorgan Value Opportunities - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 72.36 $ 90.88 $ 99.82 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 16 17 19 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Large Cap Core PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 67.01 $ 81.00 $ 89.38 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 19 22 20 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Large Cap Growth PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 53.87 $ 69.00 $ 76.97 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 169 150 139 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Legg Mason Value Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Long Term Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Growth and Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Large Cap Core - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Mid Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Marsico Focus - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 92.86 $ 120.61 $ 132.02 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 33 96 130 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Mid Cap Value PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 96.15 $ 126.92 $ 148.15 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 163 168 176 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Money Market - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 109.60 $ 109.18 $ 108.98 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 279 232 174 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Montag & Caldwell Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 104.75 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Mutual Shares - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Global - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, ---------------------------------------------------- 2005 2006 2007 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/International Core PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 144.44 $ 170.60 $ 194.70 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 49 53 49 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/International Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 115.30 $ 143.49 $ 165.15 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 2 7 20 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/JPMorgan Core Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 114.89 $ 118.43 $ 120.94 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 180 215 241 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/JPMorgan Value Opportunities - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 102.75 $ 122.52 $ 119.88 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 22 23 20 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Large Cap Core PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 94.90 $ 106.17 $ 109.24 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 16 12 12 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Large Cap Growth PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 83.12 $ 88.74 $ 101.62 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 124 110 103 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Legg Mason Value Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 106.50 $ 112.70 $ 105.01 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 17 21 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Long Term Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 100.26 $ 101.11 $ 107.56 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 13 30 34 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Growth and Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 106.27 $ 123.37 $ 126.44 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 2 8 10 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Large Cap Core - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 105.89 $ 118.20 $ 129.57 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 3 4 6 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Lord Abbett Mid Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 111.78 $ 124.48 $ 124.00 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 13 22 27 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Marsico Focus - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 144.77 $ 156.76 $ 177.07 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 180 222 238 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Mid Cap Value PLUS - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 163.36 $ 182.01 $ 177.39 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 181 178 161 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Money Market - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 110.78 $ 114.65 $ 118.91 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 159 187 232 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Montag & Caldwell Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 109.36 $ 116.94 $ 139.93 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 3 4 7 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Mutual Shares - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 107.23 $ 107.96 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 3 25 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Global - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 111.08 $ 116.30 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 3 13 - ------------------------------------------------------------------------------------------------------------------------------------
II-3 Appendix II: Condensed financial information
UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007. For the years ending December 31, ---------------------------------------------------- 1999 2000 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Opportunity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Small Cap - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/PIMCO Real Return - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Short Duration Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Small Company Index - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/T.Rowe Price Growth Stock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Templeton Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/UBS Growth and Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Comstock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Emerging Markets Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 147.71 $ 87.72 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 28 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Mid Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Real Estate - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Aggressive Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 112.33 $ 96.42 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 3 28 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Core Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Health Care - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager High Yield - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 99.34 $ 89.64 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 4 23 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager International Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, ---------------------------------------------------- 2001 2002 2003 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Opportunity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Small Cap - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/PIMCO Real Return - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Short Duration Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Small Company Index - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 81.88 $ 118.30 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 9 22 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/T.Rowe Price Growth Stock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Templeton Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/UBS Growth and Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Comstock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Emerging Markets Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 82.40 $ 76.80 $ 118.61 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 35 39 45 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Mid Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Real Estate - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Aggressive Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 71.46 $ 50.34 $ 68.57 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 33 30 36 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Core Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 107.15 $ 110.11 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 64 85 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Health Care - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 79.29 $ 100.64 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 10 15 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager High Yield - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 89.40 $ 85.94 $ 104.33 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 51 66 111 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager International Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 78.38 $ 104.29 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 24 40 - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, ---------------------------------------------------- 2004 2005 2006 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Opportunity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Small Cap - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 111.12 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/PIMCO Real Return - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 99.61 $ 99.05 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 32 75 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Short Duration Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 100.06 $ 103.04 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 6 13 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Small Company Index - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 137.88 $ 142.39 $ 166.02 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 39 43 49 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/T.Rowe Price Growth Stock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 111.32 $ 114.66 $ 109.01 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 8 7 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Templeton Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 107.71 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 4 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/UBS Growth and Income - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 109.33 $ 118.05 $ 133.47 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 5 8 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Comstock - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 104.56 $ 120.04 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- 8 18 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Emerging Markets Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 145.31 $ 191.11 $ 259.45 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 65 92 112 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Mid Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 124.02 $ 134.27 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 10 - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Real Estate - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Aggressive Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 76.14 $ 81.60 $ 84.96 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 37 34 33 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Core Bond - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 113.30 $ 114.19 $ 117.37 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 112 105 107 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Health Care - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 111.78 $ 118.42 $ 123.32 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 23 25 29 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager High Yield - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 112.29 $ 114.63 $ 124.82 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 137 156 156 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager International Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 121.79 $ 139.27 $ 172.87 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 65 72 83 - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, ---------------------------------- 2007 - ------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Opportunity - ------------------------------------------------------------------------------------------------------------------ Unit value $ 95.42 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 1 - ------------------------------------------------------------------------------------------------------------------ EQ/Oppenheimer Main Street Small Cap - ------------------------------------------------------------------------------------------------------------------ Unit value $ 108.12 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 8 - ------------------------------------------------------------------------------------------------------------------ EQ/PIMCO Real Return - ------------------------------------------------------------------------------------------------------------------ Unit value $ 109.36 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 97 - ------------------------------------------------------------------------------------------------------------------ EQ/Short Duration Bond - ------------------------------------------------------------------------------------------------------------------ Unit value $ 107.48 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 21 - ------------------------------------------------------------------------------------------------------------------ EQ/Small Company Index - ------------------------------------------------------------------------------------------------------------------ Unit value $ 161.42 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 51 - ------------------------------------------------------------------------------------------------------------------ EQ/T.Rowe Price Growth Stock - ------------------------------------------------------------------------------------------------------------------ Unit value $ 115.78 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 57 - ------------------------------------------------------------------------------------------------------------------ EQ/Templeton Growth - ------------------------------------------------------------------------------------------------------------------ Unit value $ 108.91 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 25 - ------------------------------------------------------------------------------------------------------------------ EQ/UBS Growth and Income - ------------------------------------------------------------------------------------------------------------------ Unit value $ 133.75 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 11 - ------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Comstock - ------------------------------------------------------------------------------------------------------------------ Unit value $ 115.92 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 21 - ------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Emerging Markets Equity - ------------------------------------------------------------------------------------------------------------------ Unit value $ 364.95 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 118 - ------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Mid Cap Growth - ------------------------------------------------------------------------------------------------------------------ Unit value $ 162.79 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 20 - ------------------------------------------------------------------------------------------------------------------ EQ/Van Kampen Real Estate - ------------------------------------------------------------------------------------------------------------------ Unit value $ 83.04 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 131 - ------------------------------------------------------------------------------------------------------------------ Multimanager Aggressive Equity - ------------------------------------------------------------------------------------------------------------------ Unit value $ 93.73 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 29 - ------------------------------------------------------------------------------------------------------------------ Multimanager Core Bond - ------------------------------------------------------------------------------------------------------------------ Unit value $ 123.53 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 111 - ------------------------------------------------------------------------------------------------------------------ Multimanager Health Care - ------------------------------------------------------------------------------------------------------------------ Unit value $ 133.09 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 27 - ------------------------------------------------------------------------------------------------------------------ Multimanager High Yield - ------------------------------------------------------------------------------------------------------------------ Unit value $ 127.51 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 164 - ------------------------------------------------------------------------------------------------------------------ Multimanager International Equity - ------------------------------------------------------------------------------------------------------------------ Unit value $ 192.51 - ------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 77 - ------------------------------------------------------------------------------------------------------------------
Appendix II: Condensed financial information II-4
UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007. For the years ending December 31, ---------------------------------------------------- 1999 2000 2001 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Core Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Mid Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Mid Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Small Company Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Small Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Technology - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Target 2015 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Target 2025 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Target 2035 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Target 2045 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, ---------------------------------------------------- 2002 2003 2004 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Core Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 76.73 $ 97.38 $ 105.79 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 11 13 13 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 68.14 $ 88.16 $ 93.14 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 33 45 52 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 79.40 $ 103.09 $ 116.85 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 21 30 38 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Mid Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 62.24 $ 86.46 $ 95.68 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 43 73 87 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Mid Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 73.99 $ 103.05 $ 117.57 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 33 50 64 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Small Company Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- $ 114.68 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Small Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 89.87 $ 122.28 $ 141.84 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 24 54 81 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Technology - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 56.86 $ 88.78 $ 92.32 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 4 14 96 - ------------------------------------------------------------------------------------------------------------------------------------ Target 2015 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Target 2025 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Target 2035 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Target 2045 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ For the years ending December 31, - ------------------------------------------------------------------------------------------------------------------------------------ 2005 2006 2007 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Core Equity - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 111.84 $ 125.82 $ 130.86 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 14 12 12 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 99.17 $ 98.34 $ 108.35 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 52 53 49 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Large Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 123.95 $ 146.50 $ 150.38 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 43 59 67 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Mid Cap Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 102.72 $ 111.53 $ 123.62 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 81 80 75 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Mid Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 125.01 $ 142.07 $ 140.84 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 60 57 56 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Small Company Growth - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 122.10 $ 133.29 $ 136.88 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 14 30 44 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Small Cap Value - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 147.08 $ 169.16 $ 151.05 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 95 100 87 - ------------------------------------------------------------------------------------------------------------------------------------ Multimanager Technology - ------------------------------------------------------------------------------------------------------------------------------------ Unit value $ 101.75 $ 108.14 $ 126.63 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) 85 77 73 - ------------------------------------------------------------------------------------------------------------------------------------ Target 2015 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 108.45 $ 115.19 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 1 - ------------------------------------------------------------------------------------------------------------------------------------ Target 2025 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 109.40 $ 116.34 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 3 - ------------------------------------------------------------------------------------------------------------------------------------ Target 2035 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 110.29 $ 117.31 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 3 - ------------------------------------------------------------------------------------------------------------------------------------ Target 2045 Allocation - ------------------------------------------------------------------------------------------------------------------------------------ Unit value -- $ 111.08 $ 118.61 - ------------------------------------------------------------------------------------------------------------------------------------ Number of units outstanding (000's) -- -- 1 - ------------------------------------------------------------------------------------------------------------------------------------
II-5 Appendix II: Condensed financial information Appendix III: Market value adjustment example - -------------------------------------------------------------------------------- The example below shows how the market value adjustment would be determined and how it would be applied to a withdrawal, assuming that $100,000 was allocated on June 15, 2008 to a fixed maturity option with a maturity date of June 15, 2016 (eight years later) at a hypothetical rate to maturity of 7.00% (h), resulting in a maturity value of $171,882 on the maturity date. We further assume that a withdrawal of $50,000 is made four years later, on June 15, 2012.(a)
- ------------------------------------------------------------------------------------------- Hypothetical assumed rate to maturity(j) on June 15, 2012 - ------------------------------------------------------------------------------------------- 5% 9% - ------------------------------------------------------------------------------------------- As of June 15, 2012 before withdrawal - ------------------------------------------------------------------------------------------- (1) market adjusted amount(b) $141,389 $121,737 - ------------------------------------------------------------------------------------------- (2) fixed maturity amount(c) $131,104 $131,104 - ------------------------------------------------------------------------------------------- (3) market value adjustment: (1) - (2) $ 10,285 $ (9,367) On June 15, 2012 after $50,000 withdrawal - ------------------------------------------------------------------------------------------- (4) portion of market value adjustment associated with the withdrawal: (3) x [$50,000/(1)] $ 3,637 $ (3,847) - ------------------------------------------------------------------------------------------- (5) portion of fixed maturity associated with the withdrawal: $50,000 - (4) $ 46,363 $ 53,847 - ------------------------------------------------------------------------------------------- (6) market adjusted amount (1) - $50,000 $ 91,389 $ 71,737 - ------------------------------------------------------------------------------------------- (7) fixed maturity amount: (2) - (5) $ 84,741 $ 77,257 - ------------------------------------------------------------------------------------------- (8) maturity value (d) $111,099 $101,287 - -------------------------------------------------------------------------------------------
You should note that in this example, if a withdrawal is made when rates have increased from 7.00% to 9.00% (right column), a portion of a negative market value adjustment is realized. On the other hand, if a withdrawal is made when rates have decreased from 7.00% to 5.00% (left column), a portion of a positive market value adjustment is realized. Notes:
(a) Number of days from the withdrawal date to the maturity date = D = 1,461 (b) Market adjusted amount is based on the following calculation: Maturity value $171,882 ----------------- = --------------------- where j is either 5% or 9% (1+j)(D/365) (1+j)(1,461/365) (c) Fixed maturity amount is based on the following calculation: Maturity value $171,882 ----------------- = --------------------- (1+h)(D/365) (1+0.07)(1,461/365) (d) Maturity value is based on the following calculation: Fixed maturity amount x (1+h)(D/365) = ($84,741 or $77,257)x(1+0.07)(1,461/365)
Appendix III: Market value adjustment example III-1 Appendix IV: State contract availability and/or variations of certain features and benefits - -------------------------------------------------------------------------------- STATES WHERE CERTAIN EQUI-VEST(SM) EXPRESS(SM) FEATURES AND/OR BENEFITS ARE NOT AVAILABLE OR HAVE CERTAIN VARIATIONS TO FEATURES AND/OR BENEFITS:
- ----------------------------------------------------------------------------------------------------------------- State Features and benefits Availability or variation - ----------------------------------------------------------------------------------------------------------------- California See "Contract features and benefits"-- If you reside in the state of California "Your right to cancel within a certain and you are age 60 or older at the time the number of days" contract is issued, you may return your variable annuity contract within 30 days from the date that you receive it and receive a refund as described below. If you allocate your entire initial contribution to the EQ/Money Market option, the amount of your refund will be equal to your contribution less interest, unless you make a transfer, in which case the amount of your refund will be equal to your account value on the date we receive your request to cancel at our processing office. This amount could be less than your initial contribution. If you allocate any portion of your initial contribution to variable investment options (other than the EQ/Money Market option) and/or fixed maturity options, your refund will be equal to your account value on the date we receive your request to cancel at our processing office. - ----------------------------------------------------------------------------------------------------------------- New York See "Selecting an annuity payout option" In the second to last paragraph in this in "Your annuity payout option" under section, the second line in the paragraph "(1) "Accessing your money" the amount applied to purchase the annuity;" is deleted in its entirety and replaced with the following: (1) The amount applied to provide the annuity will be: (a) the account value for any life annuity form or (b) the cash value for any period certain annuity form except that, if the period certain is more than five years, the amount applied will be no less than 95% of the account value. - ----------------------------------------------------------------------------------------------------------------- Puerto Rico See "Taxation of nonqualified annuities" There are special rules for nonqualified in "Tax information" contracts issued in Puerto Rico. Income from NQ contracts we issue is U.S. source. A Puerto Rico resident is subject to U.S. taxation on such U.S. source income. Only Puerto Rico source income of Puerto Rico residents is excludable from U.S. taxation. Income from NQ contracts is also subject to Puerto Rico tax. The calculation of the taxable portion of amounts distrib- uted from a contract may differ in the two jurisdictions. Therefore, you might have to file both U.S. and Puerto Rico tax returns, showing different amounts of income from the contract for each tax return. Puerto Rico generally provides a credit against Puerto Rico tax for U.S. tax paid. Depending on your personal situation and the timing of the different tax liabilities, you may not be able to take full advantage of this credit. - ----------------------------------------------------------------------------------------------------------------- Washington See "Fixed maturity options" in "Contract The fixed maturity options are not features and benefits" available in contracts issued on or after August 13, 2001 in Washington. - -----------------------------------------------------------------------------------------------------------------
IV-1 Appendix IV: State contract availability and/or variations of certain features and benefits Statement of additional information - -------------------------------------------------------------------------------- TABLE OF CONTENTS Page Who is AXA Equitable? 2 Calculation of annuity payments 2 Custodian and independent registered public accounting firm 2 Distribution of the contracts 3 Calculating unit values 3 Financial statements 3 How to obtain an EQUI-VEST(SM) Express(SM) Statement of Additional Information for Separate Account A Call (800) 628-6673 or send this request form to: EQUI-VEST(SM) Express(SM) Processing Office AXA Equitable P.O. Box 4956 Syracuse, NY 13221-4956 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Please send me an EQUI-VEST(SM) Express(SM) Statement of Additional Information dated May 1, 2008. (Combination variable and fixed deferred annuity) - -------------------------------------------------------------------------------- Name - -------------------------------------------------------------------------------- Address - -------------------------------------------------------------------------------- City State Zip X2028 EQUI-VEST(SM) At Retirement(SM) A combination variable and fixed deferred annuity contract PROSPECTUS DATED MAY 1, 2008 - -------------------------------------------------------------------------------- Please read and keep this prospectus for future reference. It contains important information that you should know before purchasing, or taking any other action under your contract. You should read the prospectuses for each Trust which contain important information about the portfolios. WHAT IS EQUI-VEST(SM) AT RETIREMENT(SM)? EQUI-VEST(SM) At Retirement(SM) is a deferred annuity contract issued by AXA Equitable Life Insurance Company. It provides for the accumulation of retirement savings and for income. The contract offers income and death benefit protection. It also offers a number of payout options. You invest to accumulate value on a tax-deferred basis in one or more of our variable investment options, the guaranteed interest option or fixed maturity options ("investment options"). There is no withdrawal charge under the contract. The contract may not be currently available in all states. Certain features and benefits described in this prospectus may vary in your state; all features and benefits may not be available in all contracts or in all states. Please see Appendix V later in this prospectus for more information on state availability and/or variations of certain features and benefits. - -------------------------------------------------------------------------------- Variable investment options - -------------------------------------------------------------------------------- Fixed income - -------------------------------------------------------------------------------- o AXA Conservative Allocation(1) o EQ/JPMorgan Core Bond o AXA Conservative-Plus Allocation(1) o EQ/Long Term Bond o EQ/AllianceBernstein Intermediate o EQ/Money Market Government Securities o EQ/PIMCO Real Return o EQ/AllianceBernstein Quality Bond o EQ/Short Duration Bond o EQ/Caywood-Scholl High Yield Bond o Multimanager Core Bond o EQ/Evergreen International Bond o Multimanager High Yield o EQ/Franklin Income - -------------------------------------------------------------------------------- Domestic stocks - -------------------------------------------------------------------------------- o AXA Aggressive Allocation(1) o EQ/Lord Abbett Growth and Income o AXA Moderate-Plus Allocation(1) o EQ/Lord Abbett Large Cap Core o EQ/AllianceBernstein Common Stock o EQ/Lord Abbett Mid Cap Value o EQ/AllianceBernstein Large Cap o EQ/Marsico Focus Growth o EQ/Mid Cap Value PLUS(5) o EQ/AllianceBernstein Small Cap o EQ/Montag & Caldwell Growth Growth o EQ/Mutual Shares o EQ/AllianceBernstein Value o EQ/Oppenheimer Main Street o EQ/Ariel Appreciation II(2) Opportunity o EQ/AXA Rosenberg Value Long/Short o EQ/Oppenheimer Main Street Equity Small Cap o EQ/BlackRock Basic Value Equity o EQ/Small Company Index o EQ/Boston Advisors Equity Income o EQ/T. Rowe Price Growth Stock o EQ/Calvert Socially Responsible o EQ/Templeton Growth o EQ/Capital Guardian Growth o EQ/UBS Growth and Income o EQ/Capital Guardian Research o EQ/Van Kampen Comstock o EQ/Davis New York Venture o EQ/Van Kampen Mid Cap Growth o EQ/Equity 500 Index o EQ/Van Kampen Real Estate o EQ/Evergreen Omega o Multimanager Aggressive Equity o EQ/FI Mid Cap o Multimanager Health Care o EQ/Franklin Small Cap Value o Multimanager Large Cap Core Equity o EQ/Franklin Templeton Founding o Multimanager Large Cap Growth Strategy o Multimanager Large Cap Value o EQ/GAMCO Mergers and Acquisitions o Multimanager Mid Cap Growth o EQ/GAMCO Small Company Value o Multimanager Mid Cap Value o EQ/JPMorgan Value Opportunities o Multimanager Small Cap Growth o EQ/Large Cap Core PLUS(3) o Multimanager Small Cap Value o EQ/Large Cap Growth PLUS(4) o Multimanager Technology o EQ/Legg Mason Value Equity - -------------------------------------------------------------------------------- International stocks - -------------------------------------------------------------------------------- o EQ/AllianceBernstein International o EQ/Oppenheimer Global o EQ/BlackRock International Value o EQ/Van Kampen Emerging Markets o EQ/International Core PLUS(6) Equity o EQ/International Growth o Multimanager International Equity - -------------------------------------------------------------------------------- Balanced/hybrid - -------------------------------------------------------------------------------- o AXA Moderate Allocation(1) (1) The AXA Allocation portfolios (2) Not available for TSA contracts. (3) Formerly named "MarketPLUS Large Cap Core." (4) Formerly named "MarketPLUS Large Cap Growth." (5) Formerly named "MarketPLUS Mid Cap Value." (6) Formerly named "MarketPLUS International Core." You may allocate amounts to any of the variable investment options. Each variable investment option is a subaccount of Separate Account A. Each variable investment option, in turn, invests in a corresponding securities portfolio of either the AXA Premier VIP Trust or the EQ Advisors Trust (the "Trusts"). Your investment results in a variable investment option will depend on the investment performance of the related portfolio. You may also allocate amounts to the guaranteed interest option and the fixed maturity options, which are discussed later in this prospectus. If you elect the Guaranteed withdrawal benefit for life, your investment options will be limited to the guaranteed interest option and the permitted variable investment options. TYPES OF CONTRACTS. For existing EQUI-VEST(SM) contract owners, we offer the EQUI-VEST(SM) At Retirement(SM) contract for use as: o A nonqualified annuity ("NQ") for after-tax contributions only. o An individual retirement annuity ("IRA"), either traditional IRA or Roth IRA. o An Internal Revenue Code Section 403(b) Tax-Sheltered Annuity ("TSA") (contract must continue to be part of a 403(b) plan). In order to purchase an EQUI-VEST(SM) At Retirement(SM) contract, your initial contribution must be at least $50,000 and must come from the transfer of the cash value of an EQUI-VEST(SM) series variable annuity contract that you currently own under which withdrawal charges no longer apply. The eligible EQUI-VEST(SM) contract types are traditional IRA (including our product designated QP IRA), Roth IRA, NQ, TSA (contract must continue to be part of a 403(b) plan) and the same type of IRA and NQ offered in EQUI-VEST(SM) Express(SM). The transfer of cash value will constitute a termination of that particular EQUI-VEST(SM) contract. You cannot purchase an EQUI-VEST(SM) At Retirement(SM) contract if a rollover or direct transfer contribution into your eligible EQUI-VEST(SM) contract has occurred within two EQUI-VEST(SM) contract years before your purchase of an EQUI-VEST(SM) At Retirement(SM) contract. Additionally, you must be age 55 or older (subject to maximum issue age limitations) and, for TSA contracts, no longer employed by the employer who provided the funds for the purchase of your EQUI-VEST(SM) contract. However, the contract must continue to be part of a 403(b) plan. We also intend to offer direct rollovers to IRAs for TSA contracts in 2008. The SEC has not approved or disapproved these securities or determined if this prospectus is accurate or complete. Any representation to the contrary is a criminal offense. The contracts are not insured by the FDIC or any other agency. They are not deposits or other obligations of any bank and are not bank guaranteed. They are subject to investment risks and possible loss of principal. X02041/EQUI-VEST(SM) At Retirement(SM) On the cover page under "Types of contracts," the following paragraph has been added as the last paragraph on the cover page and should be applied throughout the prospectus: Subject to certain conditions and contribution limitations as described in the above paragraphs, additional EQUI-VEST(SM) traditional IRA contract types may be eligible for replacement with this contract. The additional eligible EQUI-VEST(SM) contract types are: Employer-funded traditional individual retirement annuities ("IRAs"): o A simplified employee pension plan ("SEP") sponsored by an employer. o SEPs funded by salary reduction arrangements ("SARSEPs") for plans established by employers before January 1, 1997. o SIMPLE IRAs funded by employee salary reduction and employer contributions. - -------------------------------------------------------------------------------- The "contract date" is the effective date of a contract. This is the business day we receive the properly completed and signed application, along with any other required documents, and your initial contribution is transferred from your EQUI-VEST(SM) or EQUI-VEST(SM) Express(SM) contract. Your contract date will be shown in your contract. The 12-month period beginning on your contract date and each 12-month period after that date is a "contract year." The end of each 12-month period is your "contract date anniversary." For example, if your contract date is May 1, your contract date anniversary is April 30. - -------------------------------------------------------------------------------- Registration statements relating to this offering have been filed with the Securities and Exchange Commission ("SEC"). The statement of additional information ("SAI") dated May 1, 2008, is part of the registration statement. The SAI is available free of charge. You may request one by writing to our processing office at P.O. Box 4956, Syracuse, NY 13221-4956 or calling (800) 628-6673. The SAI has been incorporated by reference into this prospectus. This prospectus and the SAI can also be obtained from the SEC's website at www.sec.gov. The table of contents for the SAI appears at the back of this prospectus. Contents of this prospectus - -------------------------------------------------------------------- EQUI-VEST(SM) AT RETIREMENT(SM) - -------------------------------------------------------------------------------- Index of key words and phrases 5 Who is AXA Equitable? 6 How to reach us 7 EQUI-VEST(SM) At Retirement(SM) at a glance -- key features 9 - -------------------------------------------------------------------------------- FEE TABLE 11 - -------------------------------------------------------------------------------- Example 14 Condensed financial information 17 - -------------------------------------------------------------------------------- 1. CONTRACT FEATURES AND BENEFITS 18 - -------------------------------------------------------------------------------- How you can purchase and contribute to your contract 18 Owner and annuitant requirements 19 How you can make your contributions 19 What are your investment options under the contract? 19 Portfolios of the Trusts 20 Allocating your contributions 26 Guaranteed minimum death benefit and Guaranteed minimum income benefit base 26 Annuity purchase factors 27 Guaranteed minimum income benefit option ("GMIB") 27 Guaranteed minimum death benefit 29 Guaranteed withdrawal benefit for life ("GWBL") 30 Your right to cancel within a certain number of days 33 - -------------------------------------------------------------------------------- 2. DETERMINING YOUR CONTRACT'S VALUE 35 - -------------------------------------------------------------------------------- Your account value and cash value 35 Your contract's value in the variable investment options 35 Your contract's value in the guaranteed interest option 35 Your contract's value in the fixed maturity options 35 Insufficient account value 35 - ---------------------- "We," "our," and "us" refer to AXA Equitable. When we address the reader of this prospectus with words such as "you" and "your," we mean the person who has the right or responsibility that the prospectus is discussing at that point. This is usually the contract owner. When we use the word "contract" it also includes certificates that are issued under group contracts in some states. Contents of this prospectus 3 - -------------------------------------------------------------------------------- 3. TRANSFERRING YOUR MONEY AMONG INVESTMENT OPTIONS 36 - -------------------------------------------------------------------------------- Transferring your account value 36 Disruptive transfer activity 36 Dollar cost averaging 37 Rebalancing your account value 38 - -------------------------------------------------------------------------------- 4. ACCESSING YOUR MONEY 39 - -------------------------------------------------------------------------------- Withdrawing your account value 39 How withdrawals are taken from your account value 40 How withdrawals affect your Guaranteed minimum income benefit and Guaranteed minimum death benefit 41 How withdrawals affect your GWBL and GWBL Guaranteed minimum death benefit 41 Withdrawals treated as surrenders 41 Loans under TSA contracts 42 Surrendering your contract to receive its cash value 42 When to expect payments 42 Your annuity payout options 42 - -------------------------------------------------------------------------------- 5. CHARGES AND EXPENSES 45 - -------------------------------------------------------------------------------- Charges that AXA Equitable deducts 45 Charges that the Trusts deduct 46 Group or sponsored arrangements 46 Other distribution arrangements 47 - -------------------------------------------------------------------------------- 6. PAYMENT OF DEATH BENEFIT 48 - -------------------------------------------------------------------------------- Your beneficiary and payment of benefit 48 Beneficiary continuation option 49 - -------------------------------------------------------------------------------- 7. TAX INFORMATION 52 - -------------------------------------------------------------------------------- Overview 52 Buying a contract to fund a retirement arrangement 52 Transfers among investment options 52 Taxation of nonqualified annuities 52 Individual retirement arrangements (IRAs) 54 Roth individual retirement annuities (Roth IRAs) 57 Tax-sheltered annuity contracts (TSAs) 59 Federal and state income tax withholding and information reporting 62 Impact of taxes to AXA Equitable 63 - -------------------------------------------------------------------------------- 8. MORE INFORMATION 64 - -------------------------------------------------------------------------------- About Separate Account A 64 About the Trusts 64 About our fixed maturity options 64 About the general account 65 Dates and prices at which contract events occur 65 About your voting rights 66 About legal proceedings 67 Financial statements 67 Transfers of ownership, collateral assignments, loans and borrowing 67 Distribution of the contracts 67 - -------------------------------------------------------------------------------- 9. INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE 69 - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- APPENDICES - -------------------------------------------------------------------------------- I -- Condensed Financial Information A-1 II -- Market value adjustment example B-1 III -- Enhanced death benefit example C-1 IV -- Hypothetical illustrations D-1 V -- State contract availability and/or variations of certain features and benefits E-1 - -------------------------------------------------------------------------------- STATEMENT OF ADDITIONAL INFORMATION TABLE OF CONTENTS - -------------------------------------------------------------------------------- 4 Contents of this prospectus Index of key words and phrases - -------------------------------------------------------------------------------- This index should help you locate more information on the terms used in this prospectus. Page in Term Prospectus 6% Roll-Up to age 85 26 account value 35 administrative charge 45 annual administrative charge 45 Annual Ratchet to age 85 enhanced death benefit 27 annuitant 18 annuitization 42 annuity maturity date 44 annuity payout options 42 annuity purchase factors 27 beneficiary 48 Beneficiary continuation option ("BCO") 49 business day 66 cash value 35 charges for state premium and other applicable taxes 46 contract date 2 contract date anniversary 2 contract year 2 contributions to Roth IRAs 57 regular contributions 57 conversion contributions 57 contributions to traditional IRAs 54 regular contributions 54 disruptive transfer activity 36 distribution charge 45 EQAccess 7 ERISA 47 Fixed-dollar option 37 fixed maturity options 25 free look 33 general account 65 general dollar cost averaging 37 guaranteed interest option 25 Guaranteed minimum death benefit 29 Guaranteed minimum death benefit/guaranteed minimum income benefit roll-up benefit base reset option 27 Guaranteed minimum income benefit 28 Guaranteed minimum income benefit charge 45 Guaranteed minimum income benefit "no lapse guarantee" 28 Guaranteed withdrawal benefit for life 9 Guaranteed withdrawal benefit for life charge 46 IRA cover IRS 52 investment options cover Investment Simplifier 37 Lifetime minimum distribution withdrawals 40 loans under TSA 42 lump sum withdrawals 39 market adjusted amount 25 market timing 36 maturity dates 44 market value adjustment 25 maturity value 25 Mortality and expense risks charge 45 NQ cover partial withdrawals 39 permitted variable investment options 19 portfolio cover processing office 7 rate to maturity 25 Rebalancing 38 Roth IRA cover SAI cover SEC cover self-directed allocation 26 Separate Account A 64 Spousal continuation 48 Standard death benefit 26 Systematic withdrawals 39 TOPS 7 Trusts 64 traditional IRA cover TSA cover unit 35 variable investment options 19 To make this prospectus easier to read, we sometimes use different words than in the contract or supplemental materials. This is illustrated below. Although we use different words, they have the same meaning in this prospectus as in the contract. Your financial professional can provide further explanation about your contract or supplemental materials. - -------------------------------------------------------------------------------- Prospectus Contract or Supplemental Materials - -------------------------------------------------------------------------------- account value Annuity Account Value unit Accumulation Unit GWBL benefit base Guaranteed withdrawal benefit for life benefit base GWBL Excess withdrawal Guaranteed withdrawal benefit for life Excess withdrawal Index of key words and phrases 5 Who is AXA Equitable? - -------------------------------------------------------------------------------- We are AXA Equitable Life Insurance Company ("AXA Equitable") (until 2004, The Equitable Life Assurance Society of the United States), a New York stock life insurance corporation. We have been doing business since 1859. AXA Equitable is an indirect, wholly-owned subsidiary of AXA Financial, Inc., a holding company, which is itself an indirect, wholly-owned subsidiary of AXA SA ("AXA"). AXA is a French holding company for an international group of insurance and related financial services companies. As the ultimate sole shareholder of AXA Equitable, and under its other arrangements with AXA Equitable and AXA Equitable's parent, AXA exercises significant influence over the operations and capital structure of AXA Equitable and its parent. AXA holds its interest in AXA Equitable through a number of other intermediate holding companies, including Oudinot Participations, AXA America Holdings, Inc. and AXA Equitable Financial Services, LLC. AXA Equitable is obligated to pay all amounts that are promised to be paid under the contracts. No company other than AXA Equitable, however, has any legal responsibility to pay amounts that AXA Equitable owes under the contracts. AXA Financial, Inc. and its consolidated subsidiaries managed approximately $888.6 billion in assets as of December 31, 2007. For more than 100 years AXA Equitable has been among the largest insurance companies in the United States. We are licensed to sell life insurance and annuities in all fifty states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. Our home office is located at 1290 Avenue of the Americas, New York, NY 10104. 6 Who is AXA Equitable? HOW TO REACH US You may communicate with our processing office as listed below for the purposes described. Certain methods of contacting us, such as by telephone or electronically, may be unavailable or delayed (for example our facsimile service may not be available at all times and/or we may be unavailable due to emergency closing). In addition, the level and type of service available may be restricted based on criteria established by us. - -------------------------------------------------------------------------------- FOR ALL COMMUNICATIONS (E.G., REQUESTS FOR TRANSFERS, WITHDRAWALS, OR REQUIRED NOTICES) SENT BY REGULAR MAIL: - -------------------------------------------------------------------------------- AXA Equitable EQUI-VEST(SM) Processing Office P.O. Box 4956 Syracuse, NY 13221-4956 - -------------------------------------------------------------------------------- FOR ALL COMMUNICATIONS (E.G., REQUESTS FOR TRANSFERS, WITHDRAWALS, OR REQUIRED NOTICES) SENT BY EXPRESS DELIVERY: - -------------------------------------------------------------------------------- AXA Equitable EQUI-VEST(SM) Processing Office 100 Madison Street Suite 1000 Syracuse, NY 13202 - -------------------------------------------------------------------------------- REPORTS WE PROVIDE: - -------------------------------------------------------------------------------- o written confirmation of financial transactions; o quarterly statements of your contract values at the close of each calendar quarter, and o annual statement of your contract values as of the close of the contract year, including notification of eligibility to exercise the Guaranteed minimum income benefit and/or the benefit base reset option. - -------------------------------------------------------------------------------- TELEPHONE OPERATED PROGRAM SUPPORT ("TOPS") AND EQACCESS SYSTEMS: - -------------------------------------------------------------------------------- TOPS is designed to provide you with up-to-date information via touch-tone telephone. EQAccess is designed to provide this information through the Internet. You can obtain information on: o your current account value; o your current allocation percentages; o the number of units you have in the variable investment options; o rates to maturity for the fixed maturity options; o the daily unit values for the variable investment options; and o performance information regarding the variable investment options (not available through TOPS). You can also: o change your allocation percentages and/or transfer among the variable investment options and the guaranteed interest option (not available for transfers to fixed maturity options); o change your TOPS personal identification number ("PIN") (through TOPS only) and your EQAccess password (through EQAccess only); Under TOPS only you can: o elect investment simplifier. Under EQAccess only you can: o elect to receive certain contract statements electronically; o change your address; and o access Frequently Asked Questions and Service Forms TOPS and EQAccess are normally available seven days a week, 24 hours a day. You may use TOPS by calling toll-free (800) 755-7777. You may use EQAccess by visiting our website at www.axaonline.com and logging in to access your account. Of course, for reasons beyond our control, these services may sometimes be unavailable. We have established procedures to reasonably confirm that the instructions communicated by telephone or the Internet are genuine. For example, we will require certain personal identification information before we will act on telephone or Internet instructions and we will provide written confirmation of your transfers. If we do not employ reasonable procedures to confirm the genuineness of telephone or Internet instructions, we may be liable for any losses arising out of any act or omission that constitutes negligence, lack of good faith, or willful misconduct. In light of our procedures, we will not be liable for following telephone or Internet instructions we reasonably believe to be genuine. We reserve the right to limit access to these services if we determine that you engaged in a disruptive transfer activity, such as "market timing" (see "Disruptive transfer activity" in "Transferring your money among investment options" later in this prospectus). - -------------------------------------------------------------------------------- CUSTOMER SERVICE REPRESENTATIVE: - -------------------------------------------------------------------------------- You may also use our toll-free number (800) 628-6673 to speak with one of our customer service representatives. Our customer service representatives are available on each business day Monday through Thursday from 8:00 a.m. until 7:00 p.m., and on Friday until 5:00 p.m., Eastern time. Hearing or speech-impaired clients may call the AT&T National Relay Number at (800) 855-2880 for information about your account. If you have a Telecommunications Device for the Deaf (TDD), you may relay messages or questions to our Customer Service Department at (800) 628-6673, Monday through Thursday from 8:00 a.m. to 7:00 p.m., and on Friday until 5:00 p.m. Eastern Time. AT&T personnel will communicate our reply back to you via the TDD. WE REQUIRE THAT THE FOLLOWING TYPES OF COMMUNICATIONS BE ON SPECIFIC FORMS WE PROVIDE FOR THAT PURPOSE: (1) election of dollar cost averaging programs; (2) election of the rebalancing program; Who is AXA Equitable? 7 (3) requests for loans under TSA contracts; (4) election of required minimum distribution automatic withdrawal option; (5) requests for withdrawals or surrenders; (6) requests for withdrawals or surrenders of contracts with the Guaranteed withdrawal benefit for life ("GWBL"); (7) tax withholding; (8) election of the beneficiary continuation option; (9) exercise of the Guaranteed minimum income benefit; (10) requests to reset your Roll-Up benefit base (for contracts that have both the Guaranteed minimum income benefit and the Greater of the 6% Roll-Up to age 85 or the Annual Ratchet to age 85 enhanced death benefit); (11) requests to opt out of or back into the annual ratchet of the Guaranteed withdrawal benefit for life ("GWBL") benefit base; (12) death claims; (13) change in ownership (NQ only); (14) requests for enrollment in either our Maximum payment plan or Customized payment plan under the Guaranteed withdrawal benefit for life ("GWBL"); and; (15) direct transfers.. WE ALSO HAVE SPECIFIC FORMS THAT WE RECOMMEND YOU USE FOR THE FOLLOWING TYPES OF REQUESTS: (1) address changes; (2) beneficiary changes; and (3) transfers between investment options. TO CANCEL OR CHANGE ANY OF THE FOLLOWING WE REQUIRE WRITTEN NOTIFICATION GENERALLY AT LEAST SEVEN CALENDAR DAYS BEFORE THE NEXT SCHEDULED TRANSACTION: (1) general dollar cost averaging (including the investment simplifier); (2) rebalancing; (3) systematic withdrawals; and (4) the date annuity payments are to begin. You must sign and date all these requests. Any written request that is not on one of our forms must include your name and your contract number along with adequate details about the notice you wish to give or the action you wish us to take. SIGNATURES: The proper person to sign forms, notices and requests would normally be the owner. If there are joint owners both must sign. 8 Who is AXA Equitable? EQUI-VEST(SM) At Retirement(SM) at a glance -- key features - -------------------------------------------------------------------------------- Professional investment EQUI-VEST(SM) At Retirement(SM)'s variable investment options invest in management different portfolios sub-advised by professional investment advisers. - ---------------------------------------------------------------------------------------------------------- Fixed maturity options o Fixed maturity options with maturities ranging from approximately 1 to 10 years (subject to availability). o Each fixed maturity option offers a guarantee of principal and interest rate if you hold it to maturity. -------------------------------------------------------------------------------- If you make withdrawals or transfers from a fixed maturity option before maturity, there will be a market value adjustment due to differences in interest rates. If you withdraw or transfer only a portion of the amount in a fixed maturity option, this may increase or decrease any value that you have left in that fixed maturity option. If you surrender your contract, a market value adjustment also applies. - ---------------------------------------------------------------------------------------------------------- Guaranteed interest o Principal and interest guarantees. option o Interest rates set periodically. - ---------------------------------------------------------------------------------------------------------- Tax considerations o No tax on earnings inside the contract until you make withdrawals from your contract or receive annuity payments. o No tax on transfers among investment options inside the contract. -------------------------------------------------------------------------------- If you are purchasing an annuity contract as an Individual Retirement Annuity (IRA), or tax sheltered annuity (TSA) you should be aware that such contracts do not provide tax deferral benefits beyond those already provided by the Internal Revenue Code for tax-qualified arrangements. Before purchasing one of these contracts, you should consider whether its features and benefits beyond tax deferral meet your needs and goals. You may also want to consider the relative features, benefits and costs of these contracts compared with any other investment that you may use in connection with your retirement plan or arrangement. Depending on your personal situation, the contract's guaranteed benefits may have limited usefulness because of required minimum distributions ("RMDs"). - ---------------------------------------------------------------------------------------------------------- Guaranteed minimum The Guaranteed minimum income benefit ("GMIB") provides income protection income benefit for you during your life once you elect to annuitize the contract. - ---------------------------------------------------------------------------------------------------------- Guaranteed withdrawal The Guaranteed withdrawal benefit for life option ("GWBL"), guarantees that benefit for life you can take withdrawals of up to a maximum amount each contract year (your "Guaranteed annual withdrawal amount") beginning at age 55. Withdrawals are taken from your account value and continue during your lifetime even if your account value falls to zero (unless it is caused by a withdrawal that exceeds your Guaranteed annual withdrawal amount). - ---------------------------------------------------------------------------------------------------------- Contribution amounts o Your initial contribution must be from the transfer of the cash value of an EQUI-VEST (SM) or EQUI-VEST(SM) Express(SM) contract that you currently own, under which withdrawal charges no longer apply, to an EQUI-VEST(SM) At Retirement(SM) contract of the same type, for example, traditional IRA to traditional IRA, NQ to NQ. Initial minimum: $50,000 -------------------------------------------------------------------------------- o There is no minimum dollar amount on subsequent contributions but subsequent contributions must also be a transfer of the total cash value of an EQUI-VEST(SM) or EQUI-VEST(SM) Express(SM) contract that you currently own, under which withdrawal charges no longer apply, to an EQUI-VEST(SM) At Retirement(SM) contract of the same type, for example, traditional IRA to traditional IRA, NQ to NQ. We also intend to offer direct rollovers to IRAs for TSA contracts in 2008. - ---------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------
EQUI-VEST(SM) At Retirement(SM) at a glance -- key features 9 Access to your money o Partial withdrawals o Several withdrawal options on a periodic basis o Loans under TSA contracts (not available for contracts with GWBL) o Contract surrender o Maximum payment plan (only under contracts with GWBL) o Customized payment plan (only under contracts with GWBL) You may incur income tax and a tax penalty. Certain withdrawals will diminish the value of optional benefits. - ---------------------------------------------------------------------------------------------------------- Payout options o Fixed annuity payout options o Variable Immediate Annuity payout options (described in a separate prospectus for that option) o Income Manager(SM) payout options (described in a separate prospectus for that option) - ---------------------------------------------------------------------------------------------------------- Additional features o Guaranteed minimum death benefit options o Dollar cost averaging o Account value rebalancing (quarterly, semiannually and annually) o Free transfers o Spousal continuation o Beneficiary continuation option o Guaranteed minimum death benefit/Guaranteed minimum income benefit roll-up benefit base reset o Guaranteed minimum income benefit no lapse guarantee - ---------------------------------------------------------------------------------------------------------- Fees and charges Please see "Fee table" later in this section for complete details. - ---------------------------------------------------------------------------------------------------------- Owner and annuitant 55-85 issue ages - ----------------------------------------------------------------------------------------------------------
The above is not a complete description of all material provisions of the contract. In some cases, restrictions or exceptions apply. Also, all features of the contract are not necessarily available in your state or at certain ages. Please see Appendix V later in this prospectus for more information on state availability and/or variations of certain features and benefits. For more detailed information, we urge you to read the contents of this prospectus, as well as your contract. This prospectus provides a description of all material provisions of the contract. Please feel free to speak with your financial professional or call us, if you have questions. If for any reason you are not satisfied with your contract, you may return it to us for a refund within a certain number of days. Please see "Your right to cancel within a certain number of days" later in this prospectus for additional information. OTHER CONTRACTS We offer a variety of fixed and variable annuity contracts. While you may not be able to make a direct exchange of your EQUI-VEST(SM) contract value into these other contracts, they may offer features, including investment options, credits, fees and/or charges that are different from those in the contracts offered by this prospectus. Not every contract is offered through the same selling broker-dealer. Some selling broker-dealers may not offer and/or limit the offering of certain features or options, as well as limit the availability of the contracts, based on issue age or other criteria established by the selling broker-dealer. Upon request, your financial professional can show you information regarding other AXA Equitable annuity contracts that he or she distributes. You can also contact us to find out more about the availability of any of the AXA Equitable annuity contracts. You should work with your financial professional to decide whether an optional benefit is appropriate for you based on a thorough analysis of your particular insurance needs, financial objectives, investment goals, time horizons and risk tolerance. Some selling broker-dealers may limit their clients from purchasing optional benefits based upon the client's age. 10 EQUI-VEST(SM) At Retirement(SM) at a glance -- key features Fee table - -------------------------------------------------------------------------------- The following tables describe the fees and expenses that you will pay when buying and owning the contract. Each of the charges and expenses is more fully described in "Charges and expenses" later in this prospectus. No sales charges are imposed at time of purchase, withdrawal or surrender of the contract. Charges designed to approximate certain taxes that may be imposed on us, such as premium taxes in your state, may apply. The first table describes fees and expenses that you will pay if you purchase a Variable Immediate Annuity payout option. Charges for certain features shown in the fee table are mutually exclusive. - ---------------------------------------------------------------------------------------------------------------------------------- Charges we deduct from your account value at the time you request certain transactions - ---------------------------------------------------------------------------------------------------------------------------------- Charge if you elect a variable payout option upon annuitization (which is described in a separate prospectus for that option) $ 350 - ---------------------------------------------------------------------------------------------------------------------------------- The next table describes the fees and expenses that you will pay periodically during the time that you own the contract, not including the underlying trust portfolio fees and expenses. - ---------------------------------------------------------------------------------------------------------------------------------- Charges we deduct from your account value on each contract date anniversary - ---------------------------------------------------------------------------------------------------------------------------------- Maximum annual administrative charge $ 0 There is no annual administrative charge applicable to your EQUI-VEST(SM) At Retirement(SM)contract. - ---------------------------------------------------------------------------------------------------------------------------------- Charges we deduct from your variable investment options expressed as an annual percentage of daily net assets - ---------------------------------------------------------------------------------------------------------------------------------- SEPARATE ACCOUNT ANNUAL EXPENSES: Mortality and expense risks 0.80% Administrative 0.30% Distribution 0.20% ----- Total Separate Account Annual expenses 1.30% - ---------------------------------------------------------------------------------------------------------------------------------- Charges we deduct from your account value each year for the optional benefit that you elect - ---------------------------------------------------------------------------------------------------------------------------------- Guaranteed minimum death benefit charge (calculated as a percentage of the applicable benefit base. Deducted annually(1) on each contract date anniversary for which the benefit is in effect): o Standard death benefit (available only with the Guaranteed minimum income benefit) 0.00% o GWBL Standard death benefit 0.00% o Annual Ratchet to age 85 0.25% of the Annual Ratchet to age 85 benefit base o Greater of 6% Roll-Up to age 85 or Annual Ratchet to age 85 0.60% of the greater of 6% Roll-Up to age 85 benefit base or the Annual Ratchet to age 85 benefit base, as applicable o GWBL Enhanced death benefit 0.30% of the GWBL Enhanced death benefit base - ---------------------------------------------------------------------------------------------------------------------------------- Guaranteed minimum income benefit charge (calculated as a percentage of the applicable benefit base. Deducted annually(1) on each contract date anniversary for which the benefit is in effect.) 0.65% - ---------------------------------------------------------------------------------------------------------------------------------- Guaranteed withdrawal benefit for life benefit charge(1) (calculated 0.60% for the Single Life option as a percentage of the GWBL benefit base. Deducted annually on each 0.75% for the Joint Life option contract date anniversary.) If your GWBL benefit base ratchets, we reserve the right to increase 0.75% for the Single Life option your charge up to: 0.90% for the Joint Life option Please see "Guaranteed withdrawal benefit for life" in "Contract features and benefits" for more information about this feature, including its benefit base and the Annual Ratchet provision, and "Guaranteed withdrawal benefit for life benefit charge" in "Charges and expenses," later in this prospectus. - ---------------------------------------------------------------------------------------------------------------------------------- Net loan interest charge -- TSA contracts only (calculated and deducted 2.00%(2) daily as a percentage of the outstanding loan amount) - ----------------------------------------------------------------------------------------------------------------------------------
Fee table 11 You also bear your proportionate share of all fees and expenses paid by a "portfolio" that corresponds to any variable investment option you are using. This table shows the lowest and highest total operating expenses charged by any of the portfolios that you will pay periodically during the time that you own the contract. These fees and expenses are reflected in the portfolio's net asset value each day. Therefore, they reduce the investment return of the portfolio and the related variable investment option. Actual fees and expenses are likely to fluctuate from year to year. More detail concerning each portfolio's fees and expenses is contained in the Trust prospectus for the portfolio. Portfolio operating expenses expressed as an annual Lowest Highest percentage of daily net assets Total Annual Portfolio ------ ------- Operating Expenses for 2007 (expenses that are deducted 0.63% 3.56% from Portfolio assets including management fees, 12b-1 fees, service fees, and/or other expenses)(3) This table shows the fees and expenses for 2007 as an annual percentage of each portfolio's daily average net assets.
- --------------------------------------------------------------------------------------------- Manage- ment 12b-1 Other Portfolio Name Fees(4) Fees(5) expenses(6) - --------------------------------------------------------------------------------------------- AXA Premier VIP Trust: - --------------------------------------------------------------------------------------------- AXA Aggressive Allocation 0.10% 0.25% 0.17% AXA Conservative Allocation 0.10% 0.25% 0.21% AXA Conservative-Plus Allocation 0.10% 0.25% 0.19% AXA Moderate Allocation 0.10% 0.25% 0.17% AXA Moderate-Plus Allocation 0.10% 0.25% 0.17% Multimanager Aggressive Equity 0.60% 0.25% 0.19% Multimanager Core Bond 0.58% 0.25% 0.18% Multimanager Health Care 1.20% 0.25% 0.23% Multimanager High Yield 0.57% 0.25% 0.19% Multimanager International Equity 1.00% 0.25% 0.23% Multimanager Large Cap Core Equity 0.89% 0.25% 0.21% Multimanager Large Cap Growth 0.90% 0.25% 0.22% Multimanager Large Cap Value 0.87% 0.25% 0.20% Multimanager Mid Cap Growth 1.10% 0.25% 0.20% Multimanager Mid Cap Value 1.09% 0.25% 0.20% Multimanager Small Cap Growth 1.05% 0.25% 0.27% Multimanager Small Cap Value 1.03% 0.25% 0.18% Multimanager Technology 1.20% 0.25% 0.22% - --------------------------------------------------------------------------------------------- EQ Advisors Trust: - --------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock 0.47% 0.25% 0.13% EQ/AllianceBernstein Intermediate Government Securities 0.50% 0.25% 0.13% EQ/AllianceBernstein International 0.71% 0.25% 0.18% EQ/AllianceBernstein Large Cap Growth 0.90% 0.25% 0.13% EQ/AllianceBernstein Quality Bond 0.50% 0.25% 0.14% EQ/AllianceBernstein Small Cap Growth 0.74% 0.25% 0.13% EQ/AllianceBernstein Value 0.59% 0.25% 0.12% EQ/Ariel Appreciation II 0.75% 0.25% 0.26% EQ/AXA Rosenberg Value Long/Short Equity 1.40% 0.25% 1.91% EQ/BlackRock Basic Value Equity 0.55% 0.25% 0.13% EQ/BlackRock International Value 0.81% 0.25% 0.19% EQ/Boston Advisors Equity Income 0.75% 0.25% 0.14% EQ/Calvert Socially Responsible 0.65% 0.25% 0.23% EQ/Capital Guardian Growth 0.65% 0.25% 0.14% EQ/Capital Guardian Research 0.63% 0.25% 0.13% EQ/Caywood-Scholl High Yield Bond 0.60% 0.25% 0.16% EQ/Davis New York Venture 0.85% 0.25% 0.18% EQ/Equity 500 Index 0.25% 0.25% 0.13% EQ/Evergreen International Bond 0.70% 0.25% 0.17% EQ/Evergreen Omega 0.65% 0.25% 0.25% EQ/FI Mid Cap 0.68% 0.25% 0.13% EQ/Franklin Income 0.90% 0.25% 0.15% EQ/Franklin Small Cap Value 0.90% 0.25% 0.18% - --------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------- Total Acquired Annual Fee Fund Fees Expenses Waivers Net Annual and (Before and/or Expenses Expenses Expense Expense (After (Underlying Limita- Reimburse- Expense Portfolio Name Portfolios)(7) tions) ments(8) Limitations) - ----------------------------------------------------------------------------------------------------------------- AXA Premier VIP Trust: - ----------------------------------------------------------------------------------------------------------------- AXA Aggressive Allocation 0.92% 1.44% (0.17)% 1.27% AXA Conservative Allocation 0.69% 1.25% (0.21)% 1.04% AXA Conservative-Plus Allocation 0.76% 1.30% (0.19)% 1.11% AXA Moderate Allocation 0.82% 1.34% (0.17)% 1.17% AXA Moderate-Plus Allocation 0.86% 1.38% (0.17)% 1.21% Multimanager Aggressive Equity -- 1.04% -- 1.04% Multimanager Core Bond -- 1.01% (0.01)% 1.00% Multimanager Health Care -- 1.68% 0.00% 1.68% Multimanager High Yield -- 1.01% -- 1.01% Multimanager International Equity -- 1.48% 0.00% 1.48% Multimanager Large Cap Core Equity -- 1.35% 0.00% 1.35% Multimanager Large Cap Growth -- 1.37% (0.02)% 1.35% Multimanager Large Cap Value -- 1.32% 0.00% 1.32% Multimanager Mid Cap Growth -- 1.55% 0.00% 1.55% Multimanager Mid Cap Value -- 1.54% 0.00% 1.54% Multimanager Small Cap Growth -- 1.57% (0.02)% 1.55% Multimanager Small Cap Value -- 1.46% 0.00% 1.46% Multimanager Technology 0.01% 1.68% 0.00% 1.68% - ----------------------------------------------------------------------------------------------------------------- EQ Advisors Trust: - ----------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock -- 0.85% -- 0.85% EQ/AllianceBernstein Intermediate Government Securities -- 0.88% -- 0.88% EQ/AllianceBernstein International -- 1.14% (0.04)% 1.10% EQ/AllianceBernstein Large Cap Growth -- 1.28% (0.23)% 1.05% EQ/AllianceBernstein Quality Bond -- 0.89% -- 0.89% EQ/AllianceBernstein Small Cap Growth -- 1.12% -- 1.12% EQ/AllianceBernstein Value -- 0.96% (0.01)% 0.95% EQ/Ariel Appreciation II -- 1.26% (0.11)% 1.15% EQ/AXA Rosenberg Value Long/Short Equity -- 3.56% 0.00% 3.56% EQ/BlackRock Basic Value Equity -- 0.93% 0.00% 0.93% EQ/BlackRock International Value -- 1.25% 0.00% 1.25% EQ/Boston Advisors Equity Income -- 1.14% (0.09)% 1.05% EQ/Calvert Socially Responsible -- 1.13% (0.08)% 1.05% EQ/Capital Guardian Growth 0.01% 1.05% (0.09)% 0.96% EQ/Capital Guardian Research -- 1.01% (0.06)% 0.95% EQ/Caywood-Scholl High Yield Bond -- 1.01% (0.01)% 1.00% EQ/Davis New York Venture -- 1.28% 0.00% 1.28% EQ/Equity 500 Index -- 0.63% -- 0.63% EQ/Evergreen International Bond -- 1.12% 0.00% 1.12% EQ/Evergreen Omega -- 1.15% 0.00% 1.15% EQ/FI Mid Cap -- 1.06% (0.06)% 1.00% EQ/Franklin Income -- 1.30% 0.00% 1.30% EQ/Franklin Small Cap Value -- 1.33% (0.03)% 1.30% - -----------------------------------------------------------------------------------------------------------------
12 Fee table
- --------------------------------------------------------------------------------------------- Manage- ment 12b-1 Other Portfolio Name Fees(4) Fees(5) expenses(6) - --------------------------------------------------------------------------------------------- EQ/Franklin Templeton Founding Strategy 0.05% 0.25% 0.22% EQ/GAMCO Mergers and Acquisitions 0.90% 0.25% 0.19% EQ/GAMCO Small Company Value 0.76% 0.25% 0.12% EQ/International Core PLUS 0.60% 0.25% 0.30% EQ/International Growth 0.85% 0.25% 0.27% EQ/JPMorgan Core Bond 0.43% 0.25% 0.13% EQ/JPMorgan Value Opportunities 0.60% 0.25% 0.14% EQ/Large Cap Core PLUS 0.50% 0.25% 0.25% EQ/Large Cap Growth PLUS 0.50% 0.25% 0.24% EQ/Legg Mason Value Equity 0.65% 0.25% 0.17% EQ/Long Term Bond 0.40% 0.25% 0.13% EQ/Lord Abbett Growth and Income 0.65% 0.25% 0.16% EQ/Lord Abbett Large Cap Core 0.65% 0.25% 0.21% EQ/Lord Abbett Mid Cap Value 0.70% 0.25% 0.15% EQ/Marsico Focus 0.85% 0.25% 0.13% EQ/Mid Cap Value PLUS 0.55% 0.25% 0.24% EQ/Money Market 0.32% 0.25% 0.13% EQ/Montag & Caldwell Growth 0.75% 0.25% 0.15% EQ/Mutual Shares 0.90% 0.25% 0.21% EQ/Oppenheimer Global 0.95% 0.25% 0.51% EQ/Oppenheimer Main Street Opportunity 0.85% 0.25% 0.45% EQ/Oppenheimer Main Street Small Cap 0.90% 0.25% 0.48% EQ/PIMCO Real Return 0.55% 0.25% 0.14% EQ/Short Duration Bond 0.43% 0.25% 0.15% EQ/Small Company Index 0.25% 0.25% 0.14% EQ/T. Rowe Price Growth Stock 0.79% 0.25% 0.14% EQ/Templeton Growth 0.95% 0.25% 0.20% EQ/UBS Growth and Income 0.75% 0.25% 0.16% EQ/Van Kampen Comstock 0.65% 0.25% 0.15% EQ/Van Kampen Emerging Markets Equity 1.11% 0.25% 0.28% EQ/Van Kampen Mid Cap Growth 0.70% 0.25% 0.15% EQ/Van Kampen Real Estate 0.90% 0.25% 0.21% - --------------------------------------------------------------------------------------------- - --------------------------------------------------------------------------------------------------- Total Acquired Annual Fee Fund Fees Expenses Waivers Net Annual and (Before and/or Expenses Expenses Expense Expense (After (Underlying Limita- Reimburse- Expense Portfolio Name Portfolios)(7) tions) ments(8) Limitations) - --------------------------------------------------------------------------------------------------- EQ/Franklin Templeton Founding Strategy 1.05% 1.57% (0.12)% 1.45%(9) EQ/GAMCO Mergers and Acquisitions -- 1.34% 0.00% 1.34% EQ/GAMCO Small Company Value -- 1.13% 0.00% 1.13% EQ/International Core PLUS 0.04% 1.19% (0.05)% 1.14% EQ/International Growth -- 1.37% 0.00% 1.37% EQ/JPMorgan Core Bond -- 0.81% 0.00% 0.81% EQ/JPMorgan Value Opportunities -- 0.99% (0.04)% 0.95% EQ/Large Cap Core PLUS 0.02% 1.02% (0.05)% 0.97% EQ/Large Cap Growth PLUS 0.02% 1.01% (0.04)% 0.97% EQ/Legg Mason Value Equity -- 1.07% (0.07)% 1.00% EQ/Long Term Bond -- 0.78% 0.00% 0.78% EQ/Lord Abbett Growth and Income -- 1.06% (0.06)% 1.00% EQ/Lord Abbett Large Cap Core -- 1.11% (0.11)% 1.00% EQ/Lord Abbett Mid Cap Value -- 1.10% (0.05)% 1.05% EQ/Marsico Focus -- 1.23% (0.08)% 1.15% EQ/Mid Cap Value PLUS 0.02% 1.06% (0.04)% 1.02% EQ/Money Market -- 0.70% -- 0.70% EQ/Montag & Caldwell Growth -- 1.15% 0.00% 1.15% EQ/Mutual Shares -- 1.36% (0.06)% 1.30% EQ/Oppenheimer Global 0.01% 1.72% (0.36)% 1.36% EQ/Oppenheimer Main Street Opportunity 0.01% 1.56% (0.25)% 1.31% EQ/Oppenheimer Main Street Small Cap 0.01% 1.64% (0.33)% 1.31% EQ/PIMCO Real Return -- 0.94% (0.04)% 0.90% EQ/Short Duration Bond -- 0.83% 0.00% 0.83% EQ/Small Company Index -- 0.64% 0.00% 0.64% EQ/T. Rowe Price Growth Stock -- 1.18% (0.03)% 1.15% EQ/Templeton Growth -- 1.40% (0.05)% 1.35% EQ/UBS Growth and Income -- 1.16% (0.11)% 1.05% EQ/Van Kampen Comstock -- 1.05% (0.05)% 1.00% EQ/Van Kampen Emerging Markets Equity -- 1.64% 0.00% 1.64% EQ/Van Kampen Mid Cap Growth -- 1.10% (0.05)% 1.05% EQ/Van Kampen Real Estate -- 1.36% (0.10)% 1.26% - ---------------------------------------------------------------------------------------------------
Notes: (1) If the contract is surrendered or annuitized or a death benefit is paid on any date other than the contract date anniversary, we will deduct a pro rata portion of the charge for that contract year. (2) We charge interest on loans under TSA contracts but also credit you interest on your loan reserve account. Our net loan interest charge is determined by the excess between the interest rate we charge over the interest rate we credit. See "Loans under TSA contracts" later in this prospectus for more information on how the loan interest is calculated and for restrictions that may apply. (3) "Total Annual Portfolio Operating Expenses" are based, in part, on estimated amounts for options added during the fiscal year 2007 and for the underlying portfolios. (4) The management fees for each portfolio cannot be increased without a vote of that portfolio's shareholders. See footnote (8) for any expense limitation agreement infor mation. (5) Portfolio shares are all subject to fees imposed under the distribution plans (the "Rule 12b-1 Plan") adopted by the Trusts pursuant to Rule 12b-1 under the Investment Company Act of 1940. For the portfolios of the AXA Premier VIP Trust and the EQ Advisors Trust, the 12b-1 fees will not be increased for the life of the contract. (6) Other expenses shown are those incurred in 2007 or are estimated for the current fiscal period. The amounts shown as "Other Expenses" will fluctuate from year to year depending on actual expenses. See footnote (8) for any expense limitation agreement information. (7) Each of these variable investment options invests in a corresponding portfolio of one of the Trusts or other unaffiliated investment companies. Each portfolio, in turn, invests in shares of other portfolios of the Trusts and/or shares of unaffiliated portfolios ("underlying portfolios"). Amounts shown reflect each portfolio's pro rata share of the fees and expenses of the underlying portfolio(s) in which it invests. A "--" indicates that the listed portfolio does not invest in underlying portfolios. (8) The amounts shown reflect any fee waivers and/or expense reimbursements that apply to each portfolio. A "--" indicates that there is no expense limitation in effect, and "0.00%" indicates that the expense limitation arrangement did not result in a fee waiver or reimbursement. AXA Equitable, the investment manager of AXA Premier VIP Trust and EQ Advisors Trust, has entered into expense limitation agreements with respect to certain portfolios, which are effective through April 30, 2009 (unless the Board of Trustees of AXA Premier VIP Trust or EQ Advisors Trust, as applicable, consents to an earlier revision or termination of this arrangement). Under these agreements, AXA Equitable has agreed to waive or limit its fees and assume other expenses of certain portfolios, if necessary, in an amount that limits such portfolio's Total Annual Expenses (exclusive of interest, taxes, brokerage commissions, capitalized expenditures, expenses of the underlying portfolios in which the portfolio invests and extraordinary expenses) to not more than the amounts specified in the agreements. Therefore, each portfolio may at a later date make a reimbursement to AXA Equitable for any of the management fees waived or limited and other expenses assumed and paid by AXA Equitable pursuant to the expense limitation agreements provided that the portfolio's current annual operating expenses do not exceed the operating expense limit determined for such portfolio. See the prospectuses for each applicable underlying Trust for more information about the arrangements. In addition, a portion of the brokerage commissions of certain portfolios of AXA Premier VIP Trust and EQ Advisors Trust is used to reduce the applicable portfolio's expenses. If the above table reflected both the expense limitation arrangements plus the portion of the brokerage commissions used to reduce portfolio expenses, the net expenses would be as shown in the table below: Fee table 13 - ------------------------------------------------- Portfolio Name: - ------------------------------------------------- Multimanager Aggressive Equity 0.97% - ------------------------------------------------- Multimanager Health Care 1.67% - ------------------------------------------------- Multimanager Large Cap Core Equity 1.34% - ------------------------------------------------- Multimanager Large Cap Growth 1.29% - ------------------------------------------------- Multimanager Large Cap Value 1.26% - ------------------------------------------------- Multimanager Mid Cap Growth 1.52% - ------------------------------------------------- Multimanager Mid Cap Value 1.53% - ------------------------------------------------- Multimanager Small Cap Growth 1.35% - ------------------------------------------------- Multimanager Small Cap Value 1.45% - ------------------------------------------------- Multimanager Technology 1.67% - ------------------------------------------------- EQ/AllianceBernstein Common Stock 0.84% - ------------------------------------------------- EQ/AllianceBernstein Large Cap Growth 1.03% - ------------------------------------------------- EQ/AllianceBernstein Small Cap Growth 1.11% - ------------------------------------------------- EQ/AllianceBernstein Value 0.87% - ------------------------------------------------- EQ/Ariel Appreciation II 1.09% - ------------------------------------------------- EQ/BlackRock Basic Value Equity 0.92% - ------------------------------------------------- EQ/Davis New York Venture 1.25% - ------------------------------------------------- EQ/Evergreen Omega 1.12% - ------------------------------------------------- EQ/GAMCO Mergers and Acquisitions 1.33% - ------------------------------------------------- EQ/GAMCO Small Company Value 1.10% - ------------------------------------------------- EQ/International Core PLUS 1.05% - ------------------------------------------------- EQ/Large Cap Core PLUS 0.83% - ------------------------------------------------- EQ/Large Cap Growth PLUS 0.82% - ------------------------------------------------- EQ/Legg Mason Value Equity 0.97% - ------------------------------------------------- EQ/Lord Abbett Growth and Income 0.98% - ------------------------------------------------- EQ/Lord Abbett Large Cap Core 0.99% - ------------------------------------------------- EQ/Lord Abbett Mid Cap Value 1.04% - ------------------------------------------------- EQ/Mid Cap Value PLUS 0.81% - ------------------------------------------------- EQ/Montag & Caldwell Growth 1.13% - ------------------------------------------------- EQ/T. Rowe Price Growth Stock 0.87% - ------------------------------------------------- EQ/UBS Growth and Income 1.04% - ------------------------------------------------- EQ/Van Kampen Comstock 0.99% - ------------------------------------------------- EQ/Van Kampen Mid Cap Growth 1.04% - ------------------------------------------------- (9) In addition to the fee waiver and/or expense reimbursement discussed in the footnote immediately above, AXA Equitable, voluntarily will waive all its management and administration fees and reimburse all other expenses associated with the EQ/Franklin Templeton Founding Strategy Portfolio ("Portfolio") (exclusive of taxes, interest, brokerage commissions, capitalized expenses, expenses of the investment companies in which the Portfolio invests, Rule 12b-1 fees and extraordinary expenses). Accordingly, the Total Annual Operating Expenses (including Acquired Fund Fees and Expenses), taking into account the voluntary waiver by AXA Equitable, will be 1.30%. The voluntary waiver by AXA Equitable will remain in effect until April 30, 2009. EXAMPLE This example is intended to help you compare the cost of investing in the contract with the cost of investing in other variable annuity contracts. These costs include contract owner transaction expenses, contract fees, separate account annual expenses, and underlying trust fees and expenses (including the underlying portfolio fees and expenses). The example below shows the expenses that a hypothetical contract owner (who has elected the enhanced death benefit that provides for the greater of the 6% Roll-Up to age 85 or the Annual Ratchet to age 85 along with the Guaranteed minimum income benefit) would pay in the situations illustrated. The fixed maturity options and guaranteed interest option are not covered by the example. However, the charge for any optional benefits and the charge if you elect a Variable Immediate Annuity payout option do apply to the fixed maturity options and guaranteed interest option. A market value adjustment (up or down) may apply as a result of a withdrawal, transfer, or surrender of amounts from a fixed maturity option. The example assumes that you invest $10,000 in the contract for the time periods indicated, and that your investment has a 5% return each year. The example also assumes maximum contract charges and total annual expenses of the portfolios (before expense limitations) set forth in the previous charts. This example should not be considered a representation of past or future expenses for each option. Actual expenses may be greater or less than those shown. Similarly, the annual rate of return assumed in the example is not an estimate or guarantee of future investment performance. Although your actual costs may be higher or lower, based on these assumptions, your costs would be: 14 Fee table
- ----------------------------------------------------------------------------------------------------------------- If you annuitize at the end of the applicable time period - ----------------------------------------------------------------------------------------------------------------- 1 year 3 years 5 years 10 years - ----------------------------------------------------------------------------------------------------------------- AXA PREMIER VIP TRUST: - ----------------------------------------------------------------------------------------------------------------- AXA Aggressive Allocation N/A $ 1,642.00 $ 2,556.00 $ 5,051.00 AXA Conservative Allocation N/A $ 1,583.00 $ 2,461.00 $ 4,872.00 AXA Conservative-Plus Allocation N/A $ 1,598.00 $ 2,486.00 $ 4,920.00 AXA Moderate Allocation N/A $ 1,611.00 $ 2,506.00 $ 4,957.00 AXA Moderate-Plus Allocation N/A $ 1,623.00 $ 2,526.00 $ 4,995.00 Multimanager Aggressive Equity N/A $ 1,518.00 $ 2,354.00 $ 4,670.00 Multimanager Core Bond N/A $ 1,508.00 $ 2,339.00 $ 4,641.00 Multimanager Health Care N/A $ 1,715.00 $ 2,676.00 $ 5,272.00 Multimanager High Yield N/A $ 1,508.00 $ 2,339.00 $ 4,641.00 Multimanager International Equity N/A $ 1,654.00 $ 2,577.00 $ 5,088.00 Multimanager Large Cap Core Equity N/A $ 1,614.00 $ 2,511.00 $ 4,967.00 Multimanager Large Cap Growth N/A $ 1,620.00 $ 2,521.00 $ 4,986.00 Multimanager Large Cap Value N/A $ 1,605.00 $ 2,496.00 $ 4,939.00 Multimanager Mid Cap Growth N/A $ 1,676.00 $ 2,612.00 $ 5,153.00 Multimanager Mid Cap Value N/A $ 1,672.00 $ 2,607.00 $ 5,144.00 Multimanager Small Cap Growth N/A $ 1,682.00 $ 2,622.00 $ 5,171.00 Multimanager Small Cap Value N/A $ 1,648.00 $ 2,567.00 $ 5,070.00 Multimanager Technology N/A $ 1,715.00 $ 2,676.00 $ 5,272.00 - ----------------------------------------------------------------------------------------------------------------- EQ ADVISORS TRUST: - ----------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock N/A $ 1,459.00 $ 2,257.00 $ 4,484.00 EQ/AllianceBernstein Intermediate Government Securities N/A $ 1,468.00 $ 2,272.00 $ 4,514.00 EQ/AllianceBernstein International N/A $ 1,549.00 $ 2,405.00 $ 4,767.00 EQ/AllianceBernstein Large Cap Growth N/A $ 1,592.00 $ 2,476.00 $ 4,901.00 EQ/AllianceBernstein Quality Bond N/A $ 1,471.00 $ 2,277.00 $ 4,523.00 EQ/AllianceBernstein Small Cap Growth N/A $ 1,543.00 $ 2,395.00 $ 4,748.00 EQ/AllianceBernstein Value N/A $ 1,493.00 $ 2,313.00 $ 4,592.00 EQ/Ariel Appreciation II N/A $ 1,586.00 $ 2,466.00 $ 4,882.00 EQ/AXA Rosenberg Value Long/Short Equity N/A $ 2,280.00 $ 3,571.00 $ 6,818.00 EQ/BlackRock Basic Value Equity N/A $ 1,484.00 $ 2,298.00 $ 4,563.00 EQ/BlackRock International Value N/A $ 1,583.00 $ 2,461.00 $ 4,872.00 EQ/Boston Advisors Equity Income N/A $ 1,549.00 $ 2,405.00 $ 4,767.00 EQ/Calvert Socially Responsible N/A $ 1,546.00 $ 2,400.00 $ 4,758.00 EQ/Capital Guardian Growth N/A $ 1,521.00 $ 2,359.00 $ 4,680.00 EQ/Capital Guardian Research N/A $ 1,508.00 $ 2,339.00 $ 4,641.00 EQ/Caywood-Scholl High Yield Bond N/A $ 1,508.00 $ 2,339.00 $ 4,641.00 EQ/Davis New York Venture N/A $ 1,592.00 $ 2,476.00 $ 4,901.00 EQ/Equity 500 Index N/A $ 1,390.00 $ 2,143.00 $ 4,263.00 EQ/Evergreen International Bond N/A $ 1,543.00 $ 2,395.00 $ 4,748.00 EQ/Evergreen Omega N/A $ 1,552.00 $ 2,410.00 $ 4,777.00 EQ/FI Mid Cap N/A $ 1,524.00 $ 2,364.00 $ 4,690.00 EQ/Franklin Income N/A $ 1,598.00 $ 2,486.00 $ 4,920.00 EQ/Franklin Small Cap Value N/A $ 1,608.00 $ 2,501.00 $ 4,948.00 EQ/Franklin Templeton Founding Strategy N/A $ 1,682.00 $ 2,622.00 $ 5,171.00 EQ/GAMCO Mergers and Acquisitions N/A $ 1,611.00 $ 2,506.00 $ 4,957.00 EQ/GAMCO Small Company Value N/A $ 1,546.00 $ 2,400.00 $ 4,758.00 EQ/International Core PLUS N/A $ 1,564.00 $ 2,430.00 $ 4,815.00 EQ/International Growth N/A $ 1,620.00 $ 2,521.00 $ 4,986.00 EQ/JPMorgan Core Bond N/A $ 1,446.00 $ 2,236.00 $ 4,444.00 EQ/JPMorgan Value Opportunities N/A $ 1,502.00 $ 2,329.00 $ 4,622.00 EQ/Large Cap Core PLUS N/A $ 1,512.00 $ 2,344.00 $ 4,651.00 EQ/Large Cap Growth PLUS N/A $ 1,508.00 $ 2,339.00 $ 4,641.00 EQ/Legg Mason Value Equity N/A $ 1,527.00 $ 2,369.00 $ 4,700.00 EQ/Long Term Bond N/A $ 1,437.00 $ 2,221.00 $ 4,414.00 EQ/Lord Abbett Growth and Income N/A $ 1,524.00 $ 2,364.00 $ 4,690.00 EQ/Lord Abbett Large Cap Core N/A $ 1,540.00 $ 2,390.00 $ 4,738.00 EQ/Lord Abbett Mid Cap Value N/A $ 1,536.00 $ 2,385.00 $ 4,729.00 EQ/Marsico Focus N/A $ 1,577.00 $ 2,451.00 $ 4,853.00 EQ/Mid Cap Value PLUS N/A $ 1,524.00 $ 2,364.00 $ 4,690.00 EQ/Money Market N/A $ 1,412.00 $ 2,179.00 $ 4,334.00 - ----------------------------------------------------------------------------------------------------------------- If you surrender or do not surrender your contract at the end of the applicable time period - ----------------------------------------------------------------------------------------------------------------- 1 year 3 years 5 years 10 years - ----------------------------------------------------------------------------------------------------------------- AXA PREMIER VIP TRUST: - ----------------------------------------------------------------------------------------------------------------- AXA Aggressive Allocation $ 420.00 $ 1,292.00 $ 2,206.00 $ 4,701.00 AXA Conservative Allocation $ 400.00 $ 1,233.00 $ 2,111.00 $ 4,522.00 AXA Conservative-Plus Allocation $ 405.00 $ 1,248.00 $ 2,136.00 $ 4,570.00 AXA Moderate Allocation $ 410.00 $ 1,261.00 $ 2,156.00 $ 4,607.00 AXA Moderate-Plus Allocation $ 414.00 $ 1,273.00 $ 2,176.00 $ 4,645.00 Multimanager Aggressive Equity $ 378.00 $ 1,168.00 $ 2,004.00 $ 4,320.00 Multimanager Core Bond $ 375.00 $ 1,158.00 $ 1,989.00 $ 4,291.00 Multimanager Health Care $ 445.00 $ 1,365.00 $ 2,326.00 $ 4,922.00 Multimanager High Yield $ 375.00 $ 1,158.00 $ 1,989.00 $ 4,291.00 Multimanager International Equity $ 424.00 $ 1,304.00 $ 2,227.00 $ 4,738.00 Multimanager Large Cap Core Equity $ 411.00 $ 1,264.00 $ 2,161.00 $ 4,617.00 Multimanager Large Cap Growth $ 413.00 $ 1,270.00 $ 2,171.00 $ 4,636.00 Multimanager Large Cap Value $ 408.00 $ 1,255.00 $ 2,146.00 $ 4,589.00 Multimanager Mid Cap Growth $ 432.00 $ 1,326.00 $ 2,262.00 $ 4,803.00 Multimanager Mid Cap Value $ 431.00 $ 1,322.00 $ 2,257.00 $ 4,794.00 Multimanager Small Cap Growth $ 434.00 $ 1,332.00 $ 2,272.00 $ 4,821.00 Multimanager Small Cap Value $ 422.00 $ 1,298.00 $ 2,217.00 $ 4,720.00 Multimanager Technology $ 445.00 $ 1,365.00 $ 2,326.00 $ 4,922.00 - ----------------------------------------------------------------------------------------------------------------- EQ ADVISORS TRUST: - ----------------------------------------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock $ 358.00 $ 1,109.00 $ 1,907.00 $ 4,134.00 EQ/AllianceBernstein Intermediate Government Securities $ 361.00 $ 1,118.00 $ 1,922.00 $ 4,164.00 EQ/AllianceBernstein International $ 389.00 $ 1,199.00 $ 2,055.00 $ 4,417.00 EQ/AllianceBernstein Large Cap Growth $ 403.00 $ 1,242.00 $ 2,126.00 $ 4,551.00 EQ/AllianceBernstein Quality Bond $ 362.00 $ 1,121.00 $ 1,927.00 $ 4,173.00 EQ/AllianceBernstein Small Cap Growth $ 387.00 $ 1,193.00 $ 2,045.00 $ 4,398.00 EQ/AllianceBernstein Value $ 370.00 $ 1,143.00 $ 1,963.00 $ 4,242.00 EQ/Ariel Appreciation II $ 401.00 $ 1,236.00 $ 2,116.00 $ 4,532.00 EQ/AXA Rosenberg Value Long/Short Equity $ 643.00 $ 1,930.00 $ 3,221.00 $ 6,468.00 EQ/BlackRock Basic Value Equity $ 367.00 $ 1,134.00 $ 1,948.00 $ 4,213.00 EQ/BlackRock International Value $ 400.00 $ 1,233.00 $ 2,111.00 $ 4,522.00 EQ/Boston Advisors Equity Income $ 389.00 $ 1,199.00 $ 2,055.00 $ 4,417.00 EQ/Calvert Socially Responsible $ 388.00 $ 1,196.00 $ 2,050.00 $ 4,408.00 EQ/Capital Guardian Growth $ 379.00 $ 1,171.00 $ 2,009.00 $ 4,330.00 EQ/Capital Guardian Research $ 375.00 $ 1,158.00 $ 1,989.00 $ 4,291.00 EQ/Caywood-Scholl High Yield Bond $ 375.00 $ 1,158.00 $ 1,989.00 $ 4,291.00 EQ/Davis New York Venture $ 403.00 $ 1,242.00 $ 2,126.00 $ 4,551.00 EQ/Equity 500 Index $ 335.00 $ 1,040.00 $ 1,793.00 $ 3,913.00 EQ/Evergreen International Bond $ 387.00 $ 1,193.00 $ 2,045.00 $ 4,398.00 EQ/Evergreen Omega $ 390.00 $ 1,202.00 $ 2,060.00 $ 4,427.00 EQ/FI Mid Cap $ 380.00 $ 1,174.00 $ 2,014.00 $ 4,340.00 EQ/Franklin Income $ 405.00 $ 1,248.00 $ 2,136.00 $ 4,570.00 EQ/Franklin Small Cap Value $ 409.00 $ 1,258.00 $ 2,151.00 $ 4,598.00 EQ/Franklin Templeton Founding Strategy $ 434.00 $ 1,332.00 $ 2,272.00 $ 4,821.00 EQ/GAMCO Mergers and Acquisitions $ 410.00 $ 1,261.00 $ 2,156.00 $ 4,607.00 EQ/GAMCO Small Company Value $ 388.00 $ 1,196.00 $ 2,050.00 $ 4,408.00 EQ/International Core PLUS $ 394.00 $ 1,214.00 $ 2,080.00 $ 4,465.00 EQ/International Growth $ 413.00 $ 1,270.00 $ 2,171.00 $ 4,636.00 EQ/JPMorgan Core Bond $ 354.00 $ 1,096.00 $ 1,886.00 $ 4,094.00 EQ/JPMorgan Value Opportunities $ 373.00 $ 1,152.00 $ 1,979.00 $ 4,272.00 EQ/Large Cap Core PLUS $ 376.00 $ 1,162.00 $ 1,994.00 $ 4,301.00 EQ/Large Cap Growth PLUS $ 375.00 $ 1,158.00 $ 1,989.00 $ 4,291.00 EQ/Legg Mason Value Equity $ 381.00 $ 1,177.00 $ 2,019.00 $ 4,350.00 EQ/Long Term Bond $ 351.00 $ 1,087.00 $ 1,871.00 $ 4,064.00 EQ/Lord Abbett Growth and Income $ 380.00 $ 1,174.00 $ 2,014.00 $ 4,340.00 EQ/Lord Abbett Large Cap Core $ 386.00 $ 1,190.00 $ 2,040.00 $ 4,388.00 EQ/Lord Abbett Mid Cap Value $ 384.00 $ 1,186.00 $ 2,035.00 $ 4,379.00 EQ/Marsico Focus $ 398.00 $ 1,227.00 $ 2,101.00 $ 4,503.00 EQ/Mid Cap Value PLUS $ 380.00 $ 1,174.00 $ 2,014.00 $ 4,340.00 EQ/Money Market $ 342.00 $ 1,062.00 $ 1,829.00 $ 3,984.00 - -----------------------------------------------------------------------------------------------------------------
Fee table 15
- ---------------------------------------------------------------------------------------------------- If you annuitize at the end of the applicable time period - ---------------------------------------------------------------------------------------------------- 1 year 3 years 5 years 10 years - ---------------------------------------------------------------------------------------------------- EQ ADVISORS TRUST: - ---------------------------------------------------------------------------------------------------- EQ/Montag & Caldwell Growth N/A $ 1,552.00 $ 2,410.00 $ 4,777.00 EQ/Mutual Shares N/A $ 1,617.00 $ 2,516.00 $ 4,976.00 EQ/Oppenheimer Global N/A $ 1,728.00 $ 2,696.00 $ 5,308.00 EQ/Oppenheimer Main Street Opportunity N/A $ 1,679.00 $ 2,617.00 $ 5,162.00 EQ/Oppenheimer Main Street Small Cap N/A $ 1,703.00 $ 2,656.00 $ 5,236.00 EQ/PIMCO Real Return N/A $ 1,487.00 $ 2,303.00 $ 4,573.00 EQ/Short Duration Bond N/A $ 1,452.00 $ 2,246.00 $ 4,464.00 EQ/Small Company Index N/A $ 1,393.00 $ 2,148.00 $ 4,273.00 EQ/T. Rowe Price Growth Stock N/A $ 1,561.00 $ 2,425.00 $ 4,806.00 EQ/Templeton Growth N/A $ 1,629.00 $ 2,536.00 $ 5,014.00 EQ/UBS Growth and Income N/A $ 1,555.00 $ 2,415.00 $ 4,786.00 EQ/Van Kampen Comstock N/A $ 1,521.00 $ 2,359.00 $ 4,680.00 EQ/Van Kampen Emerging Markets Equity N/A $ 1,703.00 $ 2,656.00 $ 5,236.00 EQ/Van Kampen Mid Cap Growth N/A $ 1,536.00 $ 2,385.00 $ 4,729.00 EQ/Van Kampen Real Estate N/A $ 1,617.00 $ 2,516.00 $ 4,976.00 - ---------------------------------------------------------------------------------------------------- If you surrender or do not surrender your contract at the end of the applicable time period - ---------------------------------------------------------------------------------------------------- 1 year 3 years 5 years 10 years - ---------------------------------------------------------------------------------------------------- EQ ADVISORS TRUST: - ---------------------------------------------------------------------------------------------------- EQ/Montag & Caldwell Growth $ 390.00 $ 1,202.00 $ 2,060.00 $ 4,427.00 EQ/Mutual Shares $ 412.00 $ 1,267.00 $ 2,166.00 $ 4,626.00 EQ/Oppenheimer Global $ 450.00 $ 1,378.00 $ 2,346.00 $ 4,958.00 EQ/Oppenheimer Main Street Opportunity $ 433.00 $ 1,329.00 $ 2,267.00 $ 4,812.00 EQ/Oppenheimer Main Street Small Cap $ 441.00 $ 1,353.00 $ 2,306.00 $ 4,886.00 EQ/PIMCO Real Return $ 368.00 $ 1,137.00 $ 1,953.00 $ 4,223.00 EQ/Short Duration Bond $ 356.00 $ 1,102.00 $ 1,896.00 $ 4,114.00 EQ/Small Company Index $ 336.00 $ 1,043.00 $ 1,798.00 $ 3,923.00 EQ/T. Rowe Price Growth Stock $ 393.00 $ 1,211.00 $ 2,075.00 $ 4,456.00 EQ/Templeton Growth $ 416.00 $ 1,279.00 $ 2,186.00 $ 4,664.00 EQ/UBS Growth and Income $ 391.00 $ 1,205.00 $ 2,065.00 $ 4,436.00 EQ/Van Kampen Comstock $ 379.00 $ 1,171.00 $ 2,009.00 $ 4,330.00 EQ/Van Kampen Emerging Markets Equity $ 441.00 $ 1,353.00 $ 2,306.00 $ 4,886.00 EQ/Van Kampen Mid Cap Growth $ 384.00 $ 1,186.00 $ 2,035.00 $ 4,379.00 EQ/Van Kampen Real Estate $ 412.00 $ 1,267.00 $ 2,166.00 $ 4,626.00 - ----------------------------------------------------------------------------------------------------
16 Fee table CONDENSED FINANCIAL INFORMATION Please see Appendix I at the end of this prospectus, for the unit values and number of units outstanding as of the periods shown for each of the variable investment options, available as of December 31, 2007. Fee table 17 1. Contract features and benefits - -------------------------------------------------------------------------------- HOW YOU CAN PURCHASE AND CONTRIBUTE TO YOUR CONTRACT You may purchase a contract by making payments to us that we call "contributions." Your initial contribution must be from the transfer of the cash value of an EQUI-VEST(SM) traditional IRA, Roth IRA, NQ or TSA or the same IRA and NQ contract types offered in EQUI-VEST(SM) Express that you currently own under which withdrawal charges no longer apply. The contract that you purchase must be the same type of contract (for example, an NQ contract to an NQ contract; or a Roth IRA contract to a Roth IRA contract) except for a SEP, SARSEP or SIMPLE IRA for which an IRA contract will be purchased. We also intend to offer direct rollovers to IRAs for TSA contracts in 2008. We require a minimum initial contribution of $50,000 for you to purchase a contract. Any subsequent contributions must also be a transfer of the total cash value of an EQUI-VEST(SM) traditional IRA, Roth IRA, NQ, or TSA or the same IRA and NQ contract types offered in EQUI-VEST(SM) Express that you own to a contract of the same type (under which withdrawal charges no longer apply). Subsequent contributions may be made up to age 86*. Ongoing contributions are not permitted. The following table summarizes our rules regarding contributions to your contract. All ages in the table refer to the age of the annuitant named in the contract. Maximum contribution limitations may apply. In order to purchase an EQUI-VEST(SM) At Retirement(SM) contract, you must select at least one of the optional benefits available under EQUI-VEST(SM) At Retirement(SM). However, the standard death benefit can only be elected if GMIB is elected. - -------------------------------------------------------------------------------- The "owner" is the person who is the named owner in the contract and, if an individual, is the measuring life for determining contract benefits. The annuitant is the person who is the measuring life for determining the contract's maturity date. The annuitant is not necessarily the contract owner. Where the owner of a contract is non-natural, the annuitant is the measuring life. - --------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------ Available Contract for owner and type annuitant ages Source of contributions - ------------------------------------------------------------------------------------------------------------------------------ NQ** 55 through 85 Transfer from an existing EQUI-VEST(SM) or EQUI-VEST(SM) Express(SM) NQ contract - ------------------------------------------------------------------------------------------------------------------------------ IRA 55 through 85 Transfer from an existing EQUI-VEST(SM) or EQUI-VEST(SM) Express(SM) IRA (including QP IRA), SEP, SARSEP or SIMPLE IRA contract - ------------------------------------------------------------------------------------------------------------------------------ Roth IRA 55 through 85 Transfer from an existing EQUI-VEST(SM) or EQUI-VEST(SM) Express(SM) Roth IRA contract - ------------------------------------------------------------------------------------------------------------------------------ TSA*** 55 through 85 Transfer from an existing EQUI-VEST(SM) TSA contract (employer or plan approval required. Con- tract must continue to be part of a 403(b) plan) - ------------------------------------------------------------------------------------------------------------------------------
* See "Guaranteed withdrawal benefit for life ("GWBL")" later in this prospectus for a discussion of limits on subsequent contributions when you elect that benefit. ** For NQ, both Owner(s) and Annuitant must meet issue age requirements. If there are more than 2 owners on the existing EQUI-VEST(SM) contract, a change of owner form must be completed so that there are only 2 owners before the transfer to an EQUI-VEST(SM) At Retirement(SM) contract is requested. Joint owners are available for NQ contracts only. *** The following applies only to TSA contracts: EQUI-VEST(SM) At Retirement(SM) is not available if you have made designated Roth contributions to your original EQUI-VEST(SM) contract. Also, due to federal tax law changes, we intend to amend our procedures to permit funds from an EQUI-VEST(SM) TSA contract which would qualify to be transferred to an EQUI-VEST(SM) At Retirement(SM) TSA (or which were transferred to EQUI-VEST(SM) At Retirement(SM) TSA), to be directly rolled over to an EQUI-VEST(SM) At Retirement(SM) IRA instead. This would apply in situations where the EQUI-VEST(SM) At Retirement(SM) TSA would not continue to be part of a 403(b) plan. See the discussion under "Tax information" later in this prospectus. For information on when contributions are credited under your contract see "Dates and prices at which contract events occur" in "More information" later in this prospectus. 18 Contract features and benefits OWNER AND ANNUITANT REQUIREMENTS Under all IRA and TSA contracts, the owner and annuitant must be the same individual. Under NQ contracts, the annuitant can be different from the owner. We do not permit partnerships or limited liability corporations to be owners. We also reserve the right to prohibit availability of this contract to other non-natural owners. For NQ contracts, we limit ownership to two joint owners. Only natural persons can be joint owners. For the Spousal continuation feature to apply, the spouses must either be joint owners or for Single life contracts, the surviving spouse must be the sole primary beneficiary. If your EQUI-VEST(SM) NQ contract has a spousal joint owner, upon transfer to the EQUI-VEST(SM) At Retirement(SM) contract such joint owner will automatically become the successor owner under the EQUI-VEST(SM) At Retirement(SM) contract. If there is a successor owner named on your EQUI-VEST(SM) NQ contract, it will not automatically carry over to the EQUI-VEST(SM) At Retirement(SM) contract because successor owner (without rights) will not be available. The determination of spousal status is made under applicable state law; however, in the event of a conflict between federal and state law, we follow federal rules. Certain benefits under your contract, as described later in this prospectus, are based on the age of the owner. If the owner of the contract is not a natural person, these benefits will be based on the age of the annuitant. If GWBL is elected, the term owner is intended to be references to annuitant if the contract has a non-natural owner. HOW YOU CAN MAKE YOUR CONTRIBUTIONS Except as indicated for TSA contracts below, contributions to your EQUI-VEST(SM) at Retirement(SM) contract can only be made through a direct transfer from an EQUI-VEST(SM) or EQUI-VEST(SM) Express(SM) contract that you own to the same type of contract. That is, a traditional IRA must be transferred to a traditional IRA; a Roth IRA must be transferred to a Roth IRA; an NQ contract must be exchanged for another NQ contract with the same owner(s) and annuitant. In the case of a SEP, SARSEP or SIMPLE IRA, a traditional IRA will be purchased. The following applies only to TSA contracts: EQUI-VEST(SM) At Retirement(SM) is not available if you have made designated Roth contributions to your original EQUI-VEST(SM) contract. A direct TSA to TSA contract transfer (whether a contract exchange under the same 403(b) plan or a 403(b) plan to another 403(b) plan direct transfer) may still be made from an EQUI-VEST(SM) TSA contract, but only with employer or plan approval and only if the contract continues to be part of a 403(b) plan. Also, due to federal tax law changes, we intend to amend our procedures to permit funds from an EQUI-VEST(SM) TSA contract which would qualify to be transferred to an EQUI-VEST(SM) At Retirement(SM) TSA (or which were transferred to EQUI-VEST(SM) At Retirement(SM) TSA), to be directly rolled over to an EQUI-VEST(SM) At Retirement(SM) IRA instead. This would apply in situations where the EQUI-VEST(SM) At Retirement(SM) TSA would not continue to be part of a 403(b) plan. See the discussion under "Tax information" later in this prospectus. WHAT ARE YOUR INVESTMENT OPTIONS UNDER THE CONTRACT? You can choose from among the variable investment options, the guaranteed interest option and the fixed maturity options. If you elect the Guaranteed withdrawal benefit for life, your investment options will be limited to the guaranteed interest option, the AXA Allocation portfolios and the EQ/Franklin Templeton Founding Strategy portfolio ("permitted variable investment options"). Certain investment options may not be available in all states. See Appendix V. VARIABLE INVESTMENT OPTIONS Your investment results in any one of the variable investment options will depend on the investment performance of the underlying portfolios. You can lose your principal when investing in the variable investment options. In periods of poor market performance, the net return, after charges and expenses, may result in negative yields, including for the EQ/Money Market variable investment option. Listed below are the currently available portfolios, their investment objectives and their advisers. Contract features and benefits 19 PORTFOLIOS OF THE TRUSTS The AXA Allocation Portfolios and the EQ/Franklin Templeton Founding Strategy Portfolio offer contract owners a convenient opportunity to invest in other portfolios that are managed and have been selected for inclusion in the AXA Allocation Portfolios and the EQ/Franklin Templeton Founding Strategy Portfolio by AXA Equitable. AXA Advisors, LLC, an affiliated broker-dealer of AXA Equitable, may promote the benefits of such portfolios to contract owners and/or suggest, incidental to the sale of this contract, that contract owners consider whether allocating some or all of their account value to such portfolios is consistent with their desired investment objectives. In doing so, AXA Equitable, and/or its affiliates, may be subject to conflicts of interest insofar as AXA Equitable may derive greater revenues from the AXA Allocation Portfolios and the EQ/Franklin Templeton Founding Strategy Portfolio than certain other portfolios available to you under your contract. In addition, due to the relative diversification of the underlying portfolios covering various asset classes and categories, the AXA Allocation Portfolios and the EQ/Franklin Templeton Founding Strategy Portfolio may enable AXA Equitable to more efficiently manage AXA Equitable's financial risks associated with certain guaranteed features including those optional benefits that restrict allocations to the AXA Allocation Portfolios and the EQ/Franklin Templeton Founding Strategy Portfolio. Please see "Allocating your contributions" in "Contract features and benefits" for more information about your role in managing your allocations. AXA Equitable serves as the investment manager of the portfolios of AXA Premier VIP Trust and EQ Advisors Trust. For some portfolios, AXA Equitable has entered into sub-advisory agreements with investment advisers (the "sub-advisers") to carry out the day-to-day investment decisions for the portfolios. As such, AXA Equitable oversees the activities of the sub-advisers with respect to the Trusts and is responsible for retaining or discontinuing the services of those sub-advisers. The chart below indicates the objective and investment manager or sub-adviser(s), as applicable, for each portfolio.
- ------------------------------------------------------------------------------------------------------------------------------------ AXA Premier VIP Trust Investment Manager (or Sub-Adviser(s), as Portfolio Name Objective applicable) - ------------------------------------------------------------------------------------------------------------------------------------ AXA AGGRESSIVE ALLOCATION Seeks long-term capital appreciation. o AXA Equitable - ------------------------------------------------------------------------------------------------------------------------------------ AXA CONSERVATIVE ALLOCATION Seeks a high level of current income. o AXA Equitable - ------------------------------------------------------------------------------------------------------------------------------------ AXA CONSERVATIVE-PLUS Seeks current income and growth of capital, with a o AXA Equitable ALLOCATION greater emphasis on current income. - ------------------------------------------------------------------------------------------------------------------------------------ AXA MODERATE ALLOCATION Seeks long-term capital appreciation and current income. o AXA Equitable - ------------------------------------------------------------------------------------------------------------------------------------ AXA MODERATE-PLUS Seeks long-term capital appreciation and current income, o AXA Equitable ALLOCATION with a greater emphasis on capital appreciation. - ------------------------------------------------------------------------------------------------------------------------------------ MULTIMANAGER AGGRESSIVE Long-term growth of capital. o AllianceBernstein L.P. EQUITY o ClearBridge Advisors, LLC o Legg Mason Capital Management, Inc. o Marsico Capital Management, LLC - ------------------------------------------------------------------------------------------------------------------------------------ MULTIMANAGER CORE BOND To seek a balance of high current income and capital o BlackRock Financial Management, Inc. appreciation, consistent with a prudent level of risk. o Pacific Investment Management Company LLC - ------------------------------------------------------------------------------------------------------------------------------------ MULTIMANAGER HEALTH CARE Long-term growth of capital. o Invesco Aim Capital Management, Inc. o RCM Capital Management LLC o Wellington Management Company, LLP - ------------------------------------------------------------------------------------------------------------------------------------ MULTIMANAGER HIGH YIELD High total return through a combination of current o Pacific Investment Management Company LLC income and capital appreciation. o Post Advisory Group, LLC - ------------------------------------------------------------------------------------------------------------------------------------ MULTIMANAGER INTERNATIONAL Long-term growth of capital. o AllianceBernstein L.P. EQUITY o JPMorgan Investment Management Inc. o Marsico Capital Management, LLC - ------------------------------------------------------------------------------------------------------------------------------------
20 Contract features and benefits
- ------------------------------------------------------------------------------------------------------------------------------------ AXA Premier VIP Trust Investment Manager (or Sub-Adviser(s), as Portfolio Name Objective applicable) - ------------------------------------------------------------------------------------------------------------------------------------ MULTIMANAGER LARGE CAP Long-term growth of capital. o AllianceBernstein L.P. CORE EQUITY o Janus Capital Management LLC o Thornburg Investment Management, Inc. - ------------------------------------------------------------------------------------------------------------------------------------ MULTIMANAGER LARGE CAP Long-term growth of capital. o RCM Capital Management LLC GROWTH o TCW Investment Management Company o T. Rowe Price Associates, Inc. - ------------------------------------------------------------------------------------------------------------------------------------ MULTIMANAGER LARGE CAP Long-term growth of capital. o AllianceBernstein L.P. VALUE o Institutional Capital LLC o MFS Investment Management - ------------------------------------------------------------------------------------------------------------------------------------ MULTIMANAGER MID CAP Long-term growth of capital. o AllianceBernstein L.P. GROWTH o Franklin Advisers, Inc. o Provident Investment Counsel, Inc. - ------------------------------------------------------------------------------------------------------------------------------------ MULTIMANAGER MID CAP VALUE Long-term growth of capital. o AXA Rosenberg Investment Management LLC o TCW Investment Management Company o Wellington Management Company, LLP - ------------------------------------------------------------------------------------------------------------------------------------ MULTIMANAGER SMALL CAP Long-term growth of capital. o Eagle Asset Management, Inc. GROWTH o Wells Capital Management Inc. - ------------------------------------------------------------------------------------------------------------------------------------ MULTIMANAGER SMALL CAP Long-term growth of capital. o Franklin Advisory Services, LLC VALUE o Lazard Asset Management LLC - ------------------------------------------------------------------------------------------------------------------------------------ MULTIMANAGER TECHNOLOGY Long-term growth of capital. o Firsthand Capital Management, Inc. o RCM Capital Management LLC o Wellington Management Company, LLP - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ EQ Advisors Trust Investment Manager (or Sub-Adviser(s), as Portfolio Name Objective applicable) - ------------------------------------------------------------------------------------------------------------------------------------ EQ/ALLIANCEBERNSTEIN COM- Seeks to achieve long-term growth of capital. o AllianceBernstein L.P. MON STOCK - ------------------------------------------------------------------------------------------------------------------------------------ EQ/ALLIANCEBERNSTEIN INTER- Seeks to achieve high current income consistent with o AllianceBernstein L.P. MEDIATE GOVERNMENT relative stability of principal. SECURITIES - ------------------------------------------------------------------------------------------------------------------------------------ EQ/ALLIANCEBERNSTEIN INTER- Seeks to achieve long-term growth of capital. o AllianceBernstein L.P. NATIONAL - ------------------------------------------------------------------------------------------------------------------------------------ EQ/ALLIANCEBERNSTEIN LARGE Seeks to achieve long-term growth of capital. o AllianceBernstein L.P. CAP GROWTH - ------------------------------------------------------------------------------------------------------------------------------------ EQ/ALLIANCEBERNSTEIN QUALITY Seeks to achieve high current income consistent with o AllianceBernstein L.P. BOND moderate risk to capital. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/ALLIANCEBERNSTEIN SMALL Seeks to achieve long-term growth of capital. o AllianceBernstein L.P. CAP GROWTH - ------------------------------------------------------------------------------------------------------------------------------------ EQ/ALLIANCEBERNSTEIN VALUE Seeks to achieve capital appreciation. o AllianceBernstein L.P. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/ARIEL APPRECIATION II Seeks to achieve long-term capital appreciation. o Ariel Capital Management, LLC - ------------------------------------------------------------------------------------------------------------------------------------
Contract features and benefits 21
- ------------------------------------------------------------------------------------------------------------------------------------ EQ Advisors Trust Investment Manager (or Sub-Adviser(s), as Portfolio Name Objective applicable) - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AXA ROSENBERG VALUE Seeks to increase value through bull markets and bear o AXA Rosenberg Investment Management LLC LONG/SHORT EQUITY markets using strategies that are designed to limit exposure to general equity market risk. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/BLACKROCK BASIC VALUE Seeks to achieve capital appreciation and secondarily, o BlackRock Investment Management, LLC EQUITY income. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/BLACKROCK INTERNATIONAL Seeks to provide current income and long-term growth of o BlackRock Investment Management VALUE income, accompanied by growth of capital. International Limited - ------------------------------------------------------------------------------------------------------------------------------------ EQ/BOSTON ADVISORS EQUITY Seeks to achieve a combination of growth and income to o Boston Advisors, LLC INCOME achieve an above-average and consistent total return. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/CALVERT SOCIALLY Seeks to achieve long-term capital appreciation. o Calvert Asset Management Company, Inc. RESPONSIBLE o Bridgeway Capital Management, Inc. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/CAPITAL GUARDIAN GROWTH Seeks to achieve long-term growth of capital. o Capital Guardian Trust Company - ------------------------------------------------------------------------------------------------------------------------------------ EQ/CAPITAL GUARDIAN Seeks to achieve long-term growth of capital. o Capital Guardian Trust Company RESEARCH - ------------------------------------------------------------------------------------------------------------------------------------ EQ/CAYWOOD-SCHOLL HIGH Seeks to maximize current income. o Caywood-Scholl Capital Management YIELD BOND - ------------------------------------------------------------------------------------------------------------------------------------ EQ/DAVIS NEW YORK VENTURE Seeks to achieve long-term growth of capital. o Davis Selected Advisers, L.P. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/EQUITY 500 INDEX Seeks to achieve a total return before expenses that o AllianceBernstein L.P. approximates the total return performance of the S&P 500 Index, including reinvestment of dividends, at a risk level consistent with that of the S&P 500 Index. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/EVERGREEN INTERNATIONAL Seeks to achieve capital growth and current income. o Evergreen Investment Management Company, LLC BOND o First International Advisors, LLC (dba "Evergreen International") - ------------------------------------------------------------------------------------------------------------------------------------ EQ/EVERGREEN OMEGA Seeks to achieve long-term capital growth. o Evergreen Investment Management Company, LLC - ------------------------------------------------------------------------------------------------------------------------------------ EQ/FI MID CAP Seeks to achieve long-term growth of capital. o Fidelity Management & Research Company - ------------------------------------------------------------------------------------------------------------------------------------ EQ/FRANKLIN INCOME Seeks to maximize income while maintaining prospects o Franklin Advisers, Inc. for capital appreciation. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/FRANKLIN SMALL CAP VALUE Seeks to achieve long-term total return. o Franklin Advisory Services, LLC - ------------------------------------------------------------------------------------------------------------------------------------ EQ/FRANKLIN TEMPLETON Primarily seeks capital appreciation and secondarily o AXA Equitable FOUNDING STRATEGY seeks income. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/GAMCO MERGERS AND Seeks to achieve capital appreciation. o GAMCO Asset Management Inc. ACQUISITIONS - ------------------------------------------------------------------------------------------------------------------------------------ EQ/GAMCO SMALL COMPANY Seeks to maximize capital appreciation. o GAMCO Asset Management Inc. VALUE - ------------------------------------------------------------------------------------------------------------------------------------ EQ/INTERNATIONAL CORE PLUS Seeks to achieve long-term growth of capital. o AXA Equitable o Mellon Capital Management Corporation o Wentworth Hauser and Violich, Inc. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/INTERNATIONAL GROWTH Seeks to achieve capital appreciation. o MFS Investment Management, Inc. - ------------------------------------------------------------------------------------------------------------------------------------
22 Contract features and benefits
- ------------------------------------------------------------------------------------------------------------------------------------ EQ Advisors Trust Investment Manager (or Sub-Adviser(s), as Portfolio Name Objective applicable) - ------------------------------------------------------------------------------------------------------------------------------------ EQ/JPMORGAN CORE BOND Seeks to provide a high total return consistent with o JPMorgan Investment Management Inc. moderate risk to capital and maintenance of liquidity. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/JPMORGAN VALUE Seeks to achieve long-term capital appreciation. o JPMorgan Investment Management Inc. OPPORTUNITIES - ------------------------------------------------------------------------------------------------------------------------------------ EQ/LARGE CAP CORE PLUS Seeks to achieve long-term growth of capital with a o AXA Equitable secondary objective to seek reasonable current income. For purposes of this Portfolio, the words "reasonable o Institutional Capital LLC current income" mean moderate income. o Mellon Capital Management Corporation - ------------------------------------------------------------------------------------------------------------------------------------ EQ/LARGE CAP GROWTH PLUS Seeks to provide long-term capital growth o AXA Equitable o Marsico Capital Management, LLC o Mellon Capital Management Corporation - ------------------------------------------------------------------------------------------------------------------------------------ EQ/LEGG MASON VALUE EQUITY Seeks to achieve long-term growth of capital. o Legg Mason Capital Management, Inc. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/LONG TERM BOND Seeks to maximize income and capital appreciation o BlackRock Financial Management, Inc. through investment in long-maturity debt obligations. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/LORD ABBETT GROWTH AND Seeks to achieve capital appreciation and growth of o Lord, Abbett & Co. LLC INCOME income without excessive fluctuation in market value. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/LORD ABBETT LARGE CAP Seeks to achieve capital appreciation and growth of o Lord, Abbett & Co. LLC CORE income with reasonable risk. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/LORD ABBETT MID CAP VALUE Seeks to achieve capital appreciation. o Lord, Abbett & Co. LLC - ------------------------------------------------------------------------------------------------------------------------------------ EQ/MARSICO FOCUS Seeks to achieve long-term growth of capital. o Marsico Capital Management, LLC - ------------------------------------------------------------------------------------------------------------------------------------ EQ/MID CAP VALUE PLUS Seeks to achieve long-term capital appreciation. o AXA Equitable o Mellon Capital Management Corporation o Wellington Management Company LLP - ------------------------------------------------------------------------------------------------------------------------------------ EQ/MONEY MARKET Seeks to obtain a high level of current income, o The Dreyfus Corporation preseve its assets and maintain liquidity. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/MONTAG & CALDWELL Seeks to achieve capital appreciation. o Montag & Caldwell, Inc. GROWTH - ------------------------------------------------------------------------------------------------------------------------------------ EQ/MUTUAL SHARES Seeks to achieve capital appreciation, which may o Franklin Mutual Advisers, LLC occasionally be short-term, and secondarily, income. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/OPPENHEIMER GLOBAL Seeks to achieve capital appreciation. o OppenheimerFunds, Inc. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/OPPENHEIMER MAIN STREET Seeks to achieve long-term capital appreciation. o OppenheimerFunds, Inc. OPPORTUNITY - ------------------------------------------------------------------------------------------------------------------------------------ EQ/OPPENHEIMER MAIN STREET Seeks to achieve capital appreciation. o OppenheimerFunds, Inc. SMALL CAP - ------------------------------------------------------------------------------------------------------------------------------------ EQ/PIMCO REAL RETURN Seeks to achieve maximum real return consistent with o Pacific Investment Management Company, LLC preservation of real capital and prudent investment management. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/SHORT DURATION BOND Seeks to achieve current income with reduced o BlackRock Financial Management, Inc. volatility of principal. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/SMALL COMPANY INDEX Seeks to replicate as closely as possible (before o AllianceBernstein L.P. the deduction of Portfolio expenses) the total return of the Russell 2000 Index. - ------------------------------------------------------------------------------------------------------------------------------------
Contract features and benefits 23
- ------------------------------------------------------------------------------------------------------------------------------------ EQ Advisors Trust Investment Manager (or Sub-Adviser(s), as Portfolio Name Objective applicable) - ------------------------------------------------------------------------------------------------------------------------------------ EQ/T. ROWE PRICE GROWTH Seeks to achieve long-term capital appreciation and o T. Rowe Price Associates, Inc. STOCK secondarily, income. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/TEMPLETON GROWTH Seeks to achieve long-term capital growth. o Templeton Global Advisors Limited - ------------------------------------------------------------------------------------------------------------------------------------ EQ/UBS GROWTH AND INCOME Seeks to achieve total return through capital o UBS Global Asset Management (Americas) Inc. appreciation with income as a secondary consideration. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/VAN KAMPEN COMSTOCK Seeks to achieve capital growth and income. o Morgan Stanley Investment Management Inc. - ------------------------------------------------------------------------------------------------------------------------------------ EQ/VAN KAMPEN EMERGING Seeks to achieve long-term capital appreciation. o Morgan Stanley Investment Management Inc. MARKETS EQUITY - ------------------------------------------------------------------------------------------------------------------------------------ EQ/VAN KAMPEN MID CAP Seeks to achieve capital growth. o Morgan Stanley Investment Management Inc. GROWTH - ------------------------------------------------------------------------------------------------------------------------------------ EQ/VAN KAMPEN REAL ESTATE Seeks to provide above average current income and long- o Morgan Stanley Investment Management Inc. term capital appreciation. - ------------------------------------------------------------------------------------------------------------------------------------
You should consider the investment objectives, risks and charges and expenses of the portfolios carefully before investing. The prospectuses for the Trusts contain this and other important information about the portfolios. The prospectuses should be read carefully before investing. 24 Contract features and benefits GUARANTEED INTEREST OPTION The guaranteed interest option is part of our general account and pays interest at guaranteed rates. We discuss our general account under "More information" later in this prospectus. We assign an interest rate each month to amounts allocated to the guaranteed interest option. This rate is guaranteed for a specified period. We credit interest daily to amounts in the guaranteed interest option. There are three levels of interest in effect at the same time in the guaranteed interest option: (1) the minimum interest rate guaranteed over the life of the contract, (2) the yearly guaranteed interest rate for the calendar year, and (3) the current interest rate. We set current interest rates periodically, according to our procedures that we have in effect at the time. We reserve the right to change these procedures. All interest rates are effective annual rates, but do not reflect the deduction of any optional benefit charges. See Appendix V later in this prospectus for state availability. Depending on the state where your contract is issued, your lifetime minimum rate ranges from 1.00% to 3.00%. The data page for your contract shows the lifetime minimum rate. Check with your financial professional as to which rate applies in your state. The minimum yearly rate will never be less than the lifetime minimum rate. The minimum yearly rate for 2008 is 2.75%. Current interest rates will never be less than the yearly guaranteed interest rate. Generally, contributions and transfers into and out of the guaranteed interest option are limited. See "Transferring your money among the investment options" later in this prospectus for restrictions on transfers to and from the guaranteed interest option. FIXED MATURITY OPTIONS We offer fixed maturity options with maturity dates generally ranging from one to ten years. We will not accept allocations to a fixed maturity option if on the date the contribution or transfer is to be applied the rate to maturity is 3%. This means that at points in time there may be no fixed maturity options available. You can allocate your contributions to one or more of these fixed maturity options. However, you may not allocate more than one contribution to any one fixed maturity option. These amounts become part of a non-unitized separate account. They will accumulate interest at the "rate to maturity" for each fixed maturity option. The total amount you allocate to and accumulate in each fixed maturity option is called the "fixed maturity amount." - -------------------------------------------------------------------------------- Fixed maturity options generally range from one to ten years to maturity. - -------------------------------------------------------------------------------- The rate to maturity you will receive for each fixed maturity option is the rate to maturity in effect for new contributions allocated to that fixed maturity option on the date we apply your contribution. On the maturity date of a fixed maturity option, your fixed maturity amount, assuming you have not made any withdrawals or transfers, will equal your contribution to that fixed maturity option plus interest, at the rate to maturity for that contribution. This is the fixed maturity option's "maturity value." Before maturity, the current value we will report for your fixed maturity amount will reflect a market value adjustment. Your current value will reflect the market value adjustment that we would make if you were to withdraw all of your fixed maturity amounts on the date of the report. We call this your "market adjusted amount." FIXED MATURITY OPTIONS AND MATURITY DATES. We currently offer fixed maturity options ending on June 15 for maturity years ranging from one through ten. Not all of these fixed maturity options will be available for annuitant ages 76 and above. See "Allocating your contributions" below. As fixed maturity options expire, we expect to add maturity years so that generally 10 fixed maturity options are available at any time. We will not accept allocations to a fixed maturity option if on the date the contribution or transfer is to be applied: o you previously allocated a contribution or made a transfer to the same fixed maturity option; or o the rate to maturity is 3%; or o the fixed maturity option's maturity date is within 45 days; or o the fixed maturity option's maturity date is later than the date annuity payments are to begin. YOUR CHOICES AT THE MATURITY DATE. We will notify you at least 45 days before each of your fixed maturity options is scheduled to mature. At that time, you may choose to have one of the following take place on the maturity date, as long as none of the conditions listed above or in "Allocating your contributions," below would apply: (a) transfer the maturity value into another available fixed maturity option, or into any of the variable investment options; or (b) withdraw the maturity value. If we do not receive your choice on or before the fixed maturity option's maturity date, we will automatically transfer your maturity value into the next available fixed maturity option (or another investment option if we are required to do so by any state regulation). As of February 15, 2008, the next available maturity date was June 15, 2013 (see "About our fixed maturity options" in "More Information," later in this prospectus). We may change our procedures in the future. MARKET VALUE ADJUSTMENT. If you make any withdrawals (including transfers, surrender or termination of your contract, or when we make deductions for charges) from a fixed maturity option before it matures we will make a market value adjustment, which will increase or decrease any fixed maturity amount you have in that fixed maturity option. A market value adjustment will also apply if amounts in a fixed maturity option are used to purchase any annuity payment option prior to the maturity date and may apply on payment of a death benefit. The market value adjustment, positive or negative, resulting from a withdrawal or transfer (including a deduction for charges) of a portion of the amount in the fixed maturity option will be a percentage of the market value adjustment that would apply if you were to withdraw the entire amount in that fixed maturity option. The market value adjustment applies to the amount remaining in a fixed maturity option and Contract features and benefits 25 does not reduce the actual amount of a withdrawal. The amount applied to an annuity payout option will reflect the application of any applicable market value adjustment (either positive or negative). We only apply a positive market value adjustment to the amount in the fixed maturity option when calculating any death benefit proceeds under your contract. The amount of the adjustment will depend on two factors: (a) the difference between the rate to maturity that applies to the amount being withdrawn and the rate to maturity in effect at that time for new allocations to that same fixed maturity option, and (b) the length of time remaining until the maturity date. In general, if interest rates rise from the time that you originally allocate an amount to a fixed maturity option to the time that you take a withdrawal, the market value adjustment will be negative. Likewise, if interest rates drop at the end of that time, the market value adjustment will be positive. Also, the amount of the market value adjustment, either up or down, will be greater the longer the time remaining until the fixed maturity option's maturity date. Therefore, it is possible that the market value adjustment could greatly reduce your value in the fixed maturity options, particularly in the fixed maturity options with later maturity dates. We provide an illustration of the market adjusted amount of specified maturity values, an explanation of how we calculate the market value adjustment, and information concerning our general account and investments purchased with amounts allocated to the fixed maturity options, in "More information" later in this prospectus. Appendix II at the end of this prospectus provides an example of how the market value adjustment is calculated. ALLOCATING YOUR CONTRIBUTIONS You may allocate your contributions to one or more, or all, of the variable investment options, guaranteed interest option and fixed maturity options (subject to restrictions in certain states--see Appendix V later in this prospectus for state variations). Allocations must be in whole percentages and you may change your allocations at any time. No more than 25% of any contribution may be allocated to the guaranteed interest option. The total of your allocations into all available investment options must equal 100%. If an owner or annuitant is age 76 or older, you may allocate contributions to fixed maturity options with maturities of five years or less. Only one amount may be allocated to any one fixed maturity option. Also, you may not allocate amounts to fixed maturity options with maturity dates that are later than the date annuity payments are to begin. The contract is between you and AXA Equitable. The contract is not an investment advisory account, and AXA Equitable is not providing any investment advice or managing the allocations under your contract. In the absence of a specific written arrangement to the contrary, you, as the owner of the contract, have the sole authority to make investment allocations and other decisions under the contract. Your AXA Advisors' financial professional is acting as a broker-dealer registered representative, and is not authorized to act as an investment advisor or to manage the allocations under your contract. If your financial professional is a registered representative with a broker-dealer other than AXA Advisors, you should speak with him/her regarding any different arrangements that may apply. GUARANTEED MINIMUM DEATH BENEFIT AND GUARANTEED MINIMUM INCOME BENEFIT BASE This section does not apply if you elect GWBL. For information about the GWBL Enhanced death benefits and benefit bases, see "Guaranteed withdrawal benefit for life ("GWBL")" later in this section. The standard death benefit can only be selected with GMIB. Any of the enhanced death benefits can be selected by themselves or with GMIB. The Guaranteed minimum death benefit base and Guaranteed minimum income benefit base (hereinafter, in this section called your "benefit base") are used to calculate the Guaranteed minimum income benefit and the death benefits as described in this section. The benefit base for the Guaranteed minimum income benefit and any enhanced death benefit will be calculated as described below in this section whether these options are elected individually or in combination. Your benefit base is not an account value or a cash value. See also "Guaranteed minimum income benefit option" and "Guaranteed minimum death benefit" below. STANDARD DEATH BENEFIT. Your benefit base is equal to: o your initial contribution and any subsequent contributions to the contract; less o a deduction that reflects any withdrawals you make. The amount of the deduction is described under "How withdrawals affect your Guaranteed minimum income benefit and Guaranteed minimum death benefit" in "Accessing your money" later in this prospectus. 6% ROLL-UP TO AGE 85 (USED FOR THE GREATER OF THE 6% ROLL-UP TO AGE 85 OR THE ANNUAL RATCHET TO AGE 85 ENHANCED DEATH BENEFIT AND FOR THE GUARANTEED MINIMUM INCOME BENEFIT). Your benefit base is equal to: o your initial contribution and any subsequent contributions to the contract; plus o daily roll-up; less o a deduction that reflects any withdrawals you make. The amount of the deduction is described under "How withdrawals affect your Guaranteed minimum income benefit and Guaranteed minimum death benefit" in "Accessing your money" and the section entitled "Charges and expenses" later in this prospectus. The effective annual roll-up rate credited to this benefit base is: o 6% with respect to the variable investment options (other than EQ/AllianceBernstein Intermediate Government Securities, EQ/Money Market, and EQ/Short Duration Bond); the effective annual rate may be 4% in some states. Please see Appendix V later in this prospectus to see what applies in your state; and o 3% with respect to the EQ/AllianceBernstein Intermediate Government Securities, EQ/Money Market, and EQ/Short Duration Bond, the fixed maturity options, the guaranteed interest option and the loan reserve account under TSA (if applicable). 26 Contract features and benefits The benefit base stops rolling up after the contract anniversary following the owner's (or older joint owner's, if applicable) 85th birthday. For contracts with non-natural owners, the benefit base stops rolling up after the contract anniversary following the annuitant's 85th birthday. ANNUAL RATCHET TO AGE 85 (USED FOR THE ANNUAL RATCHET TO AGE 85 ENHANCED DEATH BENEFIT, AND THE GREATER OF THE 6% ROLL-UP TO AGE 85 OR THE ANNUAL RATCHET TO AGE 85 ENHANCED DEATH BENEFIT AND FOR THE GUARANTEED MINIMUM INCOME BENEFIT). Your benefit base is equal to the greater of either: o your initial contribution to the contract (plus any subsequent contributions), or o your highest account value on any contract anniversary up to the contract anniversary following the owner's (or older joint owner's, if applicable) 85th birthday, plus any contributions made since the most recent ratchet occurred, less o a deduction that reflects any withdrawals you make. The amount of the deduction is described under "How withdrawals affect your Guaranteed minimum income benefit and Guaranteed minimum death benefit" in "Accessing your money" later in this prospectus. For contracts with non-natural owners, the last contract anniversary a ratchet could occur is based on the annuitant's age. GREATER OF THE 6% ROLL-UP TO AGE 85 OR THE ANNUAL RATCHET TO AGE 85 ENHANCED DEATH BENEFIT AND FOR THE GUARANTEED MINIMUM INCOME BENEFIT. Your benefit base is equal to the greater of the benefit base computed for the 6% Roll-Up to age 85 or the benefit base computed for the Annual Ratchet to age 85, as described immediately above, on each contract date anniversary. GUARANTEED MINIMUM DEATH BENEFIT/GUARANTEED MINIMUM INCOME BENEFIT ROLL-UP BENEFIT BASE RESET. If both the Guaranteed minimum income benefit AND the Greater of the 6% Roll-Up to age 85 or the Annual Ratchet to age 85 enhanced death benefit (the "Greater of enhanced death benefit") are elected, you may reset the Roll-Up benefit base for these guaranteed benefits to equal the account value as of the 5th or on any later contract date anniversary until age 75. The reset amount would equal the account value as of the contract date anniversary on which you reset your Roll-Up benefit base. The 6% Roll-Up continues to age 85 on any reset benefit base. We will send you a notice in each year that the Roll-Up benefit base is eligible to be reset, and you will have 30 days from your contract date anniversary to reset your Roll-Up benefit base. Each time you reset the Roll-Up benefit base, your Roll-Up benefit base will not be eligible for another reset for five years. If after your death your spouse continues this contract, the benefit base will be eligible to be reset either five years from the contract date or from the last reset date, if applicable. The last age at which the benefit base is eligible to be reset is owner (or older joint owner, if applicable) age 75. For contracts with non-natural owners, reset eligibility is based on the annuitant's age. It is important to note that once you have reset your Roll-Up benefit base, a new waiting period to exercise the Guaranteed minimum income benefit will apply from the date of the reset; you may not exercise until the tenth contract date anniversary following the date of the reset. See "Guaranteed minimum income benefit option--Exercise rules" below for more information regarding the 10 year waiting period. Please note that resetting your Roll-Up benefit base will lengthen the exercise waiting period. Also, although there is no additional charge when you reset your Roll-Up benefit base, the total dollar amount charged on future contract date anniversaries may increase as a result of the reset since the charges may be applied to a higher benefit base than would have been otherwise applied. See "Charges and expenses" later in this prospectus. Also, owners of IRA and TSA contracts whose lifetime required minimum distributions must begin before the end of the new exercise waiting period should consider carefully before resetting their rollup benefit base. If the required minimum distributions exceed 6% of the reset benefit base, they would cause a pro rata reduction in the benefit base. On the other hand, resetting the benefit base to a larger amount would make it less likely that the required minimum distributions actually exceed the 6% threshold. See "Lifetime required minimum distribution withdrawals" and "How withdrawals affect your Guaranteed minimum income benefit and Guaranteed minimum death benefit" in "Accessing your money" later in this prospectus. The Roll-Up benefit base for both the Greater of enhanced death benefit and the Guaranteed minimum income benefit are reset simultaneously when you request a Roll-Up benefit base reset. You cannot elect a Roll-Up benefit base reset for one benefit and not the other. ANNUITY PURCHASE FACTORS Annuity purchase factors are the factors applied to determine your periodic payments under the Guaranteed minimum income benefit and annuity payout options. The Guaranteed minimum income benefit is discussed in "Guaranteed minimum income benefit option" below and annuity payout options are discussed in "Accessing your money" later in this prospectus. Annuity purchase factors are based on interest rates, mortality tables, frequency of payments, the form of annuity benefit, and the owner's (and any joint owner's) age and sex in certain instances. Your contract specifies different guaranteed annuity purchase factors for the Guaranteed minimum income benefit and the annuity payout options. We may provide more favorable current annuity purchase factors for the annuity payout options but we will always use the guaranteed purchase factors to determine your periodic payments under the Guaranteed minimum income benefit. GUARANTEED MINIMUM INCOME BENEFIT OPTION ("GMIB") The Guaranteed minimum income benefit is available if the owner is age 55 through 75 at the time the contract is issued. If the contract is jointly owned, the Guaranteed minimum income benefit will be calculated on the basis of the older owner's age. There is an additional charge for the Guaranteed minimum income benefit which is described under "Guaranteed minimum income benefit charge" in "Charges and expenses" later in this prospectus. Once you purchase the Guaranteed minimum income benefit, you may not voluntarily terminate this benefit. Contract features and benefits 27 If you elect the Guaranteed withdrawal benefit for life, the Guaranteed minimum income benefit is not available. If the owner was older than age 60 at the time an IRA or TSA contract was issued, the Guaranteed minimum income benefit may not be an appropriate feature because the minimum distributions required by tax law generally must begin before the Guaranteed minimum income benefit can be exercised. If you elect the Guaranteed minimum income benefit option and change ownership of the contract, this benefit will automatically terminate, except under certain circumstances. See "Transfers of ownership, collateral assignments, loans and borrowing" in "More information," later in this prospectus for more information. The Guaranteed minimum income benefit guarantees you a minimum amount of fixed income under your choice of a life annuity fixed payout option or a life with a period certain payout option, subject to state availability. You choose which of these payout options you want and whether you want the option to be paid on a single or joint life basis at the time you exercise your Guaranteed minimum income benefit. The maximum period certain available under the life with a period certain payout option is 10 years. This period may be shorter, depending on the owner's age as follows: - -------------------------------------- Level payments - -------------------------------------- Period certain years ------------------- Owner's age at exercise IRAs NQ - -------------------------------------- 75 and younger 10 10 76 9 10 77 8 10 78 7 10 79 7 10 80 7 10 81 7 9 82 7 8 83 7 7 84 6 6 85 5 5 - -------------------------------------------------------------------------------- We may also make other forms of payout options available. For a description of payout options, see "Your annuity payout options" in "Accessing your money" later in this prospectus. - -------------------------------------------------------------------------------- The Guaranteed minimum income benefit should be regarded as a safety net only. - -------------------------------------------------------------------------------- When you exercise the Guaranteed minimum income benefit, the annual lifetime income that you will receive will be the greater of (i) your Guaranteed minimum income benefit which is calculated by applying your Guaranteed minimum income benefit base at guaranteed annuity purchase factors, or (ii) the income provided by applying your account value at our then current annuity purchase factors. For TSA only, we will subtract from the Guaranteed minimum income benefit base or account value any outstanding loan, including interest accrued but not paid. You may also elect to receive monthly or quarterly payments as an alternative. The payments will be less than 1/12 or 1/4 of the annual payments, respectively, due to the effect of interest compounding. The benefit base is applied only to the guaranteed annuity purchase factors under the Guaranteed minimum income benefit in your contract and not to any other guaranteed or current annuity purchase rates. The amount of income you actually receive will be determined when we receive your request to exercise the benefit. When you elect to receive annual lifetime income, your contract will terminate and you will receive a new contract for the annuity payout option. For a discussion of when your payments will begin and end, see "Exercise of Guaranteed minimum income benefit" below. Before you elect the Guaranteed minimum income benefit, you should consider the fact that it provides a form of insurance and is based on conservative actuarial factors. The guaranteed annuity purchase factors we use to determine your payout annuity benefit under the Guaranteed minimum income benefit are more conservative than the guaranteed annuity purchase factors we use for our standard payout annuity options. This means that, assuming the same amount is applied to purchase the benefit and that we use guaranteed annuity purchase factors to compute the benefit, each periodic payment under the Guaranteed minimum income benefit payout annuity will be smaller than each periodic payment under our standard payout annuity options. Therefore, even if your account value is less than your benefit base, you may generate more income by applying your account value to current annuity purchase factors. We will make this comparison for you when the need arises. GUARANTEED MINIMUM INCOME BENEFIT "NO LAPSE GUARANTEE". In general, if your account value falls to zero (except, as discussed below, if your account value falls to zero due to a withdrawal that causes your total contract year withdrawals to exceed 6% of the Roll-Up benefit base as of the beginning of the contract year or in the first contract year all contributions received in the first 90 days), the Guaranteed minimum income benefit will be exercised automatically, based on the owner's (or older joint owner's, if applicable) current age and benefit base, as follows: o You will be issued a supplementary contract based on a single life with a maximum 10 year period certain. Payments will be made annually starting one year from the date the account value fell to zero. o You will have 30 days from when we notify you to change the payout option and/or the payment frequency. The no lapse guarantee will terminate under the following circumstances: o If your account value falls to zero due to a withdrawal that causes your total contract year withdrawals to exceed 6% of the Roll-Up benefit base (as of the beginning of the contract year); o If your aggregate withdrawals during any contract year exceed 6% of the Roll-Up benefit base (as of the beginning of the contract year) or in the first contract year, all contributions received in the first 90 days; 28 Contract features and benefits o Upon the owner (or older joint owner, if applicable) reaching age 85. Please note that if you participate in our RMD Automatic withdrawal option, an automatic withdrawal under that program will not cause the no lapse guarantee to terminate even if a withdrawal causes your total contract year withdrawals to exceed 6% of your Roll-Up benefit base. ILLUSTRATIONS OF GUARANTEED MINIMUM INCOME BENEFIT. Assuming the 6% Roll-Up to age 85 benefit base, the table below illustrates the Guaranteed minimum income benefit amounts per $100,000 of initial contribution, for a male owner age 60 (at issue) on the contract date anniversaries indicated, who has elected the life annuity fixed payout option, using the guaranteed annuity purchase factors as of the date of this prospectus, assuming no additional contributions, withdrawals or loans under TSA contracts, and assuming there were no allocations to the EQ/AllianceBernstein Intermediate Government Securities, EQ/Money Market, EQ/Short Duration Bond, the guaranteed interest option, the fixed maturity options or the loan reserve account. - -------------------------------------------------------------------------------- Guaranteed minimum income Contract date benefit -- annual income pay- anniversary at exercise able for life - -------------------------------------------------------------------------------- 10 $11,891 15 $18,597 - -------------------------------------------------------------------------------- EXERCISE OF GUARANTEED MINIMUM INCOME BENEFIT. On each contract date anniversary that you are eligible to exercise the Guaranteed minimum income benefit, we will send you an eligibility notice illustrating how much income could be provided as of the contract date anniversary. You must notify us within 30 days following the contract date anniversary if you want to exercise the Guaranteed minimum income benefit. You must return your contract to us, along with all required information, within 30 days following your contract date anniversary in order to exercise this benefit. Upon exercise of the Guaranteed minimum income benefit, the owner will become the annuitant, and the contract will be annuitized on the basis of the owner's life. You will begin receiving annual payments one year after the annuity payout contract is issued. If you choose monthly or quarterly payments, you will receive your payment one month or one quarter after the annuity payout contract is issued. You may choose to take a withdrawal prior to exercising the Guaranteed minimum income benefit, which will reduce your payments. You may not partially exercise this benefit. See "Accessing your money" under "Withdrawing your account value" later in this prospectus. Payments end with the last payment before the annuitant's (or joint annuitant's, if applicable) death or if later, the end of the period certain (where the payout option chosen includes a period certain). EXERCISE RULES. You are eligible to exercise the Guaranteed minimum income benefit within 30 days following each contract date anniversary beginning with the 10th contract date anniversary. Please note: (i) the latest date you may exercise the Guaranteed minimum income benefit is within 30 days following the contract date anniversary following your 85th birthday; (ii) if you were age 75 when the contract was issued or the Roll-Up benefit base was reset, the only time you may exercise the Guaranteed minimum income benefit is within 30 days following the contract date anniversary following your attainment of age 85; (iii) for EQUI-VEST(SM) At Retirement(SM) TSA contracts, you may exercise the Guaranteed minimum income benefit only if you effect a rollover of the TSA contract to an EQUI-VEST(SM) At Retirement(SM) IRA. This process must be completed within the 30-day timeframe following the contract date anniversary in order for you to be eligible to exercise; (iv) if you reset the Roll-Up benefit base (as described earlier in this section), your new exercise date will be the tenth contract date anniversary following the date of the reset. Please note that resetting your Roll-Up benefit base will lengthen the waiting period; (v) a spouse beneficiary or younger spouse joint owner under Spousal continuation may only continue the Guaranteed minimum income benefit if the contract is not past the last date on which the original owner could have exercised the benefit. In addition, the spouse beneficiary or younger spouse joint owner must be eligible to continue the benefit and to exercise the benefit under the applicable exercise rule (described in the above bullets) using the following additional rules. The spouse beneficiary or younger spouse joint owner's age on the date of the owner's death replaces the owner's age at issue for purposes of determining the availability of the benefit and which of the exercise rules applies. The original contract issue date will continue to apply for purposes of the exercise rules. (vi) if the contract is jointly owned, you can elect to have the Guaranteed minimum income benefit paid either: (a) as a joint life benefit or (b) as a single life benefit paid on the older owner's age; and (vii) if the contract is owned by a trust or other non-natural person, eligibility to elect or exercise the Guaranteed minimum income benefit is based on the annuitant's age, rather than the owner's. See "Effect of the owner's death" under "Payment of death benefit" later in this prospectus for more information. Please see both "Insufficient account value" in "Determining your contract value" and "How withdrawals affect your Guaranteed minimum income benefit and Guaranteed minimum death benefit" in "Accessing your money" and the section entitled "Charges and expenses" later in this prospectus for more information on these guaranteed benefits. GUARANTEED MINIMUM DEATH BENEFIT This section does not apply if you elect GWBL. For information about the GWBL death benefits and benefit bases, see "Guaranteed withdrawal benefit for life ("GWBL")" later in this section. Your contract provides a death benefit. If you do not elect one of the enhanced death benefits described below, the death benefit is equal to your account value (without adjustment for any otherwise appli- Contract features and benefits 29 cable negative market value adjustment) as of the date we receive satisfactory proof of death, any required instructions for the method of payment, information and forms necessary to effect payment, OR the standard death benefit, whichever provides the higher amount. The standard death benefit is equal to your total contributions adjusted for any withdrawals. The standard death benefit, available at no additional charge, may be elected only in conjunction with the Guaranteed minimum income benefit. Once your contract is issued, you may not change or voluntarily terminate your death benefit. For an additional charge, you may elect one of the enhanced death benefits. If you elect one of the enhanced death benefits, (not including the GWBL Enhanced death benefit) the death benefit is equal to your account value (without adjustment for any otherwise applicable negative market value adjustment) as of the date we receive satisfactory proof of the owner's (or older joint owner's, if applicable) death, any required instructions for the method of payment, information and forms necessary to effect payment, OR your elected enhanced death benefit on the date of the owner's (or older joint owner's, if applicable) death adjusted for any subsequent withdrawals, whichever provides the higher amount. See "Payment of death benefit" later in this prospectus for more information. If you elect one of the enhanced death benefit options described below and change ownership of the contract, generally the benefit will automatically terminate, except under certain circumstances. If this occurs, any enhanced death benefit elected will be replaced with the standard death benefit. For contracts with non-natural owners, the death benefit will be payable upon the death of the annuitant. See "Transfers of ownership, collateral assignments, loans and borrowing" in "More information," later in this prospectus for more information. Any of the enhanced death benefits can be elected by themselves or with the Guaranteed minimum income benefit. The standard death benefit may only be elected with the Guaranteed minimum income benefit. OPTIONAL ENHANCED DEATH BENEFITS APPLICABLE FOR OWNER (OR OLDER JOINT OWNER, IF APPLICABLE) AGES 55 THROUGH 75 AT ISSUE. FOR CONTRACTS WITH NON-NATURAL OWNERS, THE AVAILABLE DEATH BENEFITS ARE BASED ON THE ANNUITANT'S AGE. Subject to state availability, you may elect one of the following enhanced death benefits (see Appendix V later in this prospectus for state availability of these benefits): o Annual Ratchet to age 85. o The greater of the 6% Roll-Up to age 85 or the Annual Ratchet to age 85. Each enhanced death benefit is equal to its corresponding benefit base described earlier in "Guaranteed minimum death benefit and Guaranteed minimum income benefit base." Once you have made your enhanced death benefit election, you may not change it. Please see both "Insufficient account value" in "Determining your contract value" and "How withdrawals affect your Guaranteed minimum income benefit and Guaranteed minimum death benefit " in "Accessing your money" later in this prospectus for more information on these guaranteed benefits. See Appendix III later in this prospectus for an example of how we calculate an enhanced death benefit. GUARANTEED WITHDRAWAL BENEFIT FOR LIFE ("GWBL") For an additional charge, the Guaranteed withdrawal benefit for life ("GWBL") guarantees that you can take withdrawals up to a maximum amount per year (your "Guaranteed annual withdrawal amount"). You may elect one of our automated payment plans or you may take partial withdrawals. All withdrawals reduce your account value and Guaranteed minimum death benefit. See "Accessing your money" later in this prospectus. Your investment options will be limited to the guaranteed interest option and the permitted variable options. You may buy this benefit on a single life ("Single life") or a joint life ("Joint life") basis. Under a Joint life contract, lifetime withdrawals are guaranteed for the life of both the owner and successor owner (or annuitant, for non-natural owners. The successor owner must be the owner's spouse. If your EQUI-VEST(SM) contract has a spousal joint owner, upon transfer to the EQUI-VEST(SM) At Retirement(SM) contract, such joint owner will automatically become the successor owner under the EQUI-VEST(SM) At Retirement(SM) contract. If you and the successor owner are no longer married, you may either: (i) drop the original successor owner or (ii) replace the original successor owner with your new spouse. This can only be done before the first withdrawal is made from the contract. After the first withdrawal, the successor owner can be dropped but cannot be replaced. If the successor owner is dropped after withdrawals begin, the charge will continue based on a Joint life basis. Joint life TSA contracts are not permitted. For NQ contracts with two owners, the GWBL benefit cannot be elected if the owners are not spouses. The cost of the GWBL benefit will be deducted from your account value on each contract date anniversary. Please see "Guaranteed withdrawal benefit for life benefit charge" in "Charges and expenses" later in this prospectus for a description of the charge. You should not purchase this benefit if: o You plan to take withdrawals in excess of your Guaranteed annual withdrawal amount because those withdrawals may significantly reduce or eliminate the value of the benefit (see "Effect of Excess withdrawals" below in this section); o You are interested in long term accumulation rather than taking withdrawals; or o You plan to use it for withdrawals prior to age 59-1/2, as the taxable amount of the withdrawal will be includible in income and subject to an additional 10% federal income tax penalty, as discussed later in this prospectus. The Federal Defense of Marriage Act precludes same-sex married couples, domestic partners, and civil union partners from being considered married under federal law. Such individuals, therefore, are not entitled to the favorable tax treatment accorded spouses under federal tax law. As a result, mandatory distributions from the contract must be made after the death of the first individual. Accordingly, the GWBL will 30 Contract features and benefits have little or no value to the surviving same-gender spouse or partner. You should consult with your tax advisor for more information on this subject. For traditional IRAs and TSA contracts, you may take your lifetime required minimum distributions ("RMDs") without losing the value of the GWBL benefit, provided you comply with the conditions described under "Lifetime required minimum distribution withdrawals" in "Accessing your money" later in this prospectus, including utilizing our RMD Automatic withdrawal option. If you do not expect to comply with these conditions, this benefit may have limited usefulness for you and you should consider whether it is appropriate. Please consult your tax adviser. GWBL BENEFIT BASE At issue, your GWBL benefit base is equal to your initial contribution and will increase or decrease, as follows: o Your GWBL benefit base increases by the dollar amount of any subsequent contributions. o Your GWBL benefit base may be increased on each contract date anniversary, as described below under "Annual ratchet" and "5% deferral bonus." o Your GWBL benefit base is not reduced by withdrawals except those withdrawals that cause total withdrawals in a contract year to exceed your Guaranteed annual withdrawal amount ("Excess withdrawal"). See "Effect of Excess withdrawals" below in this section. GUARANTEED ANNUAL WITHDRAWAL AMOUNT Your initial Guaranteed annual withdrawal amount is equal to a percentage of the GWBL benefit base. The initial applicable percentage ("Applicable percentage") is based on the owner's age at the time of the first withdrawal. For Joint life contracts, the initial Applicable percentage is based on the age of the owner or successor owner, whoever is younger at the time of the first withdrawal. For contracts held by non-natural owners, the initial Applicable percentage is based on the annuitant's age at the time of the first withdrawal. For IRA and TSA contracts, if you have to take a required minimum distribution (RMD) and it is your first withdrawal under the contract, the RMD will be considered your "first withdrawal" for the purposes of establishing your GWBL Applicable percentage. If your GWBL benefit base ratchets, as described below in this section under "Annual Ratchet," on any contract anniversary after you begin taking withdrawals, your Applicable percentage may increase based on your attained age at the time of the ratchet. The Applicable percentages are as follows: - -------------------------------------------------------------------------------- Age Applicable percentage - -------------------------------------------------------------------------------- 55-64 4.0% 65-74 5.0% 75-84 6.0% 85 and older 7.0% - -------------------------------------------------------------------------------- We will recalculate the Guaranteed annual withdrawal amount on each contract date anniversary and as of the date of any subsequent contribution or Excess withdrawal, as described below under "Effect of Excess withdrawals" and "Subsequent contributions". The withdrawal amount is guaranteed never to decrease as long as there are no Excess withdrawals. Your Guaranteed annual withdrawals are not cumulative. If you withdraw less than the Guaranteed annual withdrawal amount in any contract year, you may not add the remainder to your Guaranteed annual withdrawal amount in any subsequent year. EFFECT OF EXCESS WITHDRAWALS An Excess withdrawal is caused when you withdraw more than your Guaranteed annual withdrawal amount in any contract year. Once a withdrawal causes cumulative withdrawals in a contract year to exceed your Guaranteed annual withdrawal amount, the entire amount of that withdrawal and each subsequent withdrawal in that contract year are considered Excess withdrawals. An Excess withdrawal can cause a significant reduction in both your GWBL benefit base and your Guaranteed annual withdrawal amount. If you make an Excess withdrawal, we will recalculate your GWBL benefit base and the Guaranteed annual withdrawal amount, as follows: o The GWBL benefit base is reset as of the date of the Excess withdrawal to equal the lesser of: (i) the GWBL benefit base immediately prior to the Excess withdrawal and (ii) the account value immediately following the Excess withdrawal. o The Guaranteed annual withdrawal amount is recalculated to equal the Applicable percentage currently in effect, multiplied by the reset GWBL benefit base. You should not purchase this contract if you plan to take withdrawals in excess of your Guaranteed annual withdrawal amount as such withdrawals may significantly reduce or eliminate the value of the GWBL benefit. If your account value is less than your GWBL benefit base (due, for example, to negative market performance), an Excess withdrawal, even one that is only slightly more than your Guaranteed annual withdrawal amount, can significantly reduce your GWBL benefit base and the Guaranteed annual withdrawal amount. For example, assume your GWBL benefit base is $100,000 and your account value is $80,000 when you decide to begin taking withdrawals at age 65. Your Guaranteed annual withdrawal amount is equal to $5,000 (5.0% of $100,000). You take an initial withdrawal of $8,000. Since your GWBL benefit base is immediately reset to equal the lesser of your GWBL benefit base prior to the Excess withdrawal ($100,000) and your account value immediately following the Excess withdrawal ($80,000 minus $8,000), your GWBL benefit base is now $72,000. In addition, your Guaranteed annual withdrawal amount is reduced to $3,600 (5.0% of $72,000), instead of the original $5,000. See "How withdrawals affect your GWBL and GWBL Guaranteed minimum death benefit" in "Accessing your money" later in this prospectus. You should note that an Excess withdrawal that reduces your account value to zero terminates the contract, including all benefits, without value. See "Insufficient account value" in "Determining your contract value" later in this prospectus. In general, if you purchase this contract as a traditional IRA or TSA and participate in our RMD Automatic withdrawal option, an automatic Contract features and benefits 31 withdrawal under that program will not cause an Excess withdrawal, even if it exceeds your Guaranteed annual withdrawal amount. For more information, see "Lifetime required minimum distribution withdrawals" in "Accessing your money" later in this prospectus. Loans are not available under TSA contracts if GWBL is elected. ANNUAL RATCHET Your GWBL benefit base is recalculated on each contract date anniversary to equal the greater of: (i) the account value and (ii) the most recent GWBL benefit base. If your account value is greater, we will ratchet up your GWBL benefit base to equal your account value. If your GWBL benefit base ratchets on any contract anniversary after you begin taking withdrawals, your Applicable percentage may increase based on your attained age at the time of the ratchet. Your Guaranteed annual withdrawal amount will also be increased, if applicable, to equal your Applicable percentage times your new GWBL benefit base. If your GWBL benefit base ratchets, we may increase the charge for the benefit. Once we increase the charge, it is increased for the life of the contract. We will permit you to opt out of the ratchet if the charge increases. If you choose to opt out, your charge will stay the same but your GWBL benefit base will no longer ratchet. Upon request, we will permit you to accept a GWBL benefit base ratchet with the charge increase on a subsequent contract anniversary. For a description of the charge increase, see "Guaranteed withdrawal benefit for life benefit charge" in "Charges and expenses" later in this prospectus. 5% DEFERRAL BONUS At no additional charge, during the first ten contract years, in each year you have not taken a withdrawal, we will increase your GWBL benefit base by an amount equal to 5% of your total contributions. If the Annual Ratchet (as discussed immediately above) occurs on any contract date anniversary, for the next and subsequent contract years, the bonus will be 5% of the most recent ratcheted GWBL benefit base plus any subsequent contributions. If the GWBL benefit base is reduced due to an Excess withdrawal, the 5% deferral bonus will be calculated using the reset GWBL benefit base plus any applicable contributions. The deferral bonus generally excludes contributions made in the prior 12 months. In the first contract year, the deferral bonus is determined using all contributions received in the first 90 days of the contract year. On any contract date anniversary on which you are eligible for a bonus, we will calculate the applicable bonus amount. If, when added to the current GWBL benefit base, the amount is greater than your account value, that amount will become your new GWBL benefit base. If that amount is less than or equal to your account value, your GWBL benefit base will be ratcheted to equal your account value, and the 5% deferral bonus will not apply. If you opt out of the Annual Ratchet (as discussed immediately above), the 5% deferral bonus will still apply. SUBSEQUENT CONTRIBUTIONS If you elect GWBL, subsequent contributions are not permitted after the later of: (i) the end of the first contract year and (ii) the date the first withdrawal is taken. Anytime you make a subsequent contribution, your GWBL benefit base will be increased by the dollar amount of the contribution. Your Guaranteed annual withdrawal amount will be equal to the Applicable percentage of the increased GWBL benefit base. GWBL GUARANTEED MINIMUM DEATH BENEFIT There are two guaranteed minimum death benefits available if you elect the GWBL option: (i) the GWBL Standard death benefit, which is available at no additional charge for owner issue ages 55-85, and (ii) the GWBL Enhanced death benefit, which is available for an additional charge for owner issue ages 55-75. The GWBL Standard death benefit is equal to the GWBL Standard death benefit base. The GWBL Standard death benefit base is equal to your initial contribution and any subsequent contributions less a deduction that reflects any withdrawals you make (see "How withdrawals affect your GWBL and GWBL Guaranteed minimum death benefit" in "Accessing your money" later in this prospectus). The GWBL Enhanced death benefit is equal to the GWBL Enhanced death benefit base. Your initial GWBL Enhanced death benefit base is equal to your initial contribution and will increase or decrease, as follows: o Your GWBL Enhanced death benefit base increases by the dollar amount of any subsequent contribution; o Your GWBL Enhanced death benefit base increases to equal your account value if your GWBL benefit base is ratcheted, as described above in this section; o Your GWBL Enhanced death benefit base increases by any 5% deferral bonus, as described above in this section; and o Your GWBL Enhanced death benefit base decreases by an amount which reflects any withdrawals you make. See "How withdrawals affect your GWBL and GWBL Guaranteed minimum death benefit" in "Accessing your money" later in this prospectus. If you elect either the GWBL Standard death benefit or the GWBL Enhanced death benefit, the death benefit is equal to your account value (without adjustment for any otherwise applicable market value adjustment) as of the date we receive satisfactory proof of death, any required instructions for method of payment, information and forms necessary to effect payment or the applicable GWBL Guaranteed minimum death benefit on the date of the owner's death (adjusted for any subsequent withdrawals), whichever provides a higher amount. EFFECT OF YOUR ACCOUNT VALUE FALLING TO ZERO If your account value falls to zero due to an Excess withdrawal, we will terminate your contract and you will receive no further payments or benefits. If an Excess withdrawal results in a withdrawal that equals more than 90% of your cash value or reduces your cash value to less than $500, we will treat your request as a surrender of your contract even if your GWBL benefit base is greater than zero. However, if your account value falls to zero, either due to a withdrawal or surrender that is not an Excess withdrawal or due to a deduction of charges, please note the following: 32 Contract features and benefits o Your EQUI-VEST(SM) At Retirement(SM) contract terminates and you will receive a supplementary life annuity contract setting forth your continuing benefits. The owner of the EQUI-VEST(SM) At Retirement(SM) contract will be the owner and annuitant. The successor owner, if applicable, will be the joint annuitant. If the owner is non-natural, the annuitant will be the same as under your EQUI-VEST(SM) At Retirement(SM) contract. o No subsequent contributions will be permitted. o If you were taking withdrawals through the "Maximum payment plan," we will continue the scheduled withdrawal payments on the same basis. o If you were taking withdrawals through the "Customized payment plan" or in unscheduled lump sums, we will pay the balance of the Guaranteed annual withdrawal amount for that contract year in a lump sum. Payment of the Guaranteed annual withdrawal amount will begin on the next contract date anniversary. o Payments will continue at the same frequency for Single or Joint life contracts, as applicable, or annually if automatic payments were not being made. o Any guaranteed minimum death benefit remaining under the original contract will be carried over to the supplementary life annuity contract. The death benefit will no longer grow and will be reduced on a dollar for dollar basis as payments are made. If there is any remaining death benefit upon the death of the owner and successor owner, if applicable, we will pay it to the beneficiary. o The charge for the Guaranteed withdrawal benefit for life and the GWBL Enhanced death benefit will no longer apply. o If at the time of your death the Guaranteed annual withdrawal amount was being paid to you as a supplementary life annuity contract, your beneficiary may not elect the Beneficiary continuation option. OTHER IMPORTANT CONSIDERATIONS o This benefit may be of limited usefulness to you if you do not intend to take any withdrawals. o Excess withdrawals can significantly reduce or completely eliminate the value of the GWBL and GWBL Enhanced death benefit. See "Effect of Excess withdrawals" above in this section and "How withdrawals affect your GWBL and GWBL Guaranteed minimum death benefit" in "Accessing your money" later in this prospectus. o Withdrawals are not considered annuity payments for tax purposes, and may be subject to an additional 10% Federal income tax penalty before age 59-1/2. See "Tax information" later in this prospectus. o All withdrawals reduce your account value and Guaranteed minimum death benefit. See "How withdrawals are taken from your account value" and "How withdrawals affect your Guaranteed minimum death benefit" in "Accessing your money" later in this prospectus. o If you withdraw less than the Guaranteed annual withdrawal amount in any contract year, you may not add the remainder to your Guaranteed annual withdrawal amount in any subsequent year. o The GWBL benefit terminates if the contract is continued under the beneficiary continuation option or under the Spousal continuation feature if the spouse is not the successor owner. o If you surrender your contract to receive its cash value and your cash value is greater than your Guaranteed annual withdrawal amount, all benefits under the contract will terminate, including the GWBL benefit. o If you transfer ownership of this contract, you terminate the GWBL benefit. o Withdrawals are available under other annuity contracts we offer and this contract without purchasing a withdrawal benefit. o For IRA and TSA contracts, if you have to take a required minimum distribution ("RMD") and it is your first withdrawal under the contract, the RMD will be considered your "first withdrawal" for the purposes of establishing your GWBL Applicable percentage. o If you elect GWBL on a joint life basis and subsequently get divorced, your divorce will not automatically terminate the contract. For both Joint life and Single life contracts, it is possible that the terms of your divorce decree could significantly reduce or completely eliminate the value of this benefit. YOUR RIGHT TO CANCEL WITHIN A CERTAIN NUMBER OF DAYS If for any reason you are not satisfied with your contract, you may return it to us for a refund or reinstate your original EQUI-VEST(SM) contract. To exercise this cancellation right you must mail the contract, with a signed letter of instruction electing this right, to our processing office within 10 days after you receive it. If state law requires, this "free look" period may be longer. Other state variations may apply. Please contact your financial professional and/or see Appendix V to find out what applies in your state. For contributions allocated to the variable investment options, your refund will equal your contributions, reflecting any investment gain or loss that also reflects the daily charges we deduct. For contributions allocated to the guaranteed interest option, your refund will equal the amount of the contributions but will not include interest. For contributions allocated to the fixed maturity options, your refund will equal the amount of the contribution allocated to the fixed maturity options reflecting any positive or negative market value adjustments. Under TSA contracts, your refund will be less any amounts in the loan reserve account. Some states require that we refund the full amount of your contribution (not including any investment gain or loss, interest, or market value adjustment). For an IRA contract returned to us within seven days after you receive it, we are required to refund the full amount of your contribution. We may require that you wait six months before you may apply for a contract with us again if: o you cancel your contract during the free look period; or o you change your mind before you receive your contract. If you cancel your EQUI-VEST(SM) At Retirement(SM) contract during the free look period and choose to reinstate your EQUI-VEST(SM) or EQUI-VEST(SM) Express(SM) contract, the death benefit under your EQUI-VEST(SM) Contract features and benefits 33 or EQUI-VEST(SM) Express(SM) contract will be restored to its value before the transfer to the EQUI-VEST(SM) At Retirement(SM) contract occurred. Please see "Tax information" later in this prospectus for possible consequences of cancelling your contract. In addition to the cancellation right described above, you have the right to surrender your contract, rather than cancel it. Please see "Surrender of your contract to receive its cash value," later in this prospectus. Surrendering your contract may yield results different than canceling your contract, including a greater potential for taxable income. In some cases, your cash value upon surrender may be greater than your contributions to the contract. Please see "Tax information," later in this Prospectus for possible consequences of cancelling your contract. Our processing office, or your financial professional, can provide you with the cancellation instructions. 34 Contract features and benefits 2. Determining your contract's value - -------------------------------------------------------------------------------- YOUR ACCOUNT VALUE AND CASH VALUE Your "account value" is the total of the values you have in: (i) the variable investment options; (ii) the guaranteed interest option; (iii) market adjusted amounts in the fixed maturity options; and (iv) the loan reserve account (applicable to TSA contracts only). Your contract also has a "cash value." At any time before annuity payments begin, your contract's cash value is equal to the account value, less: (i) the total amount or a pro rata portion of optional benefit charges; and (ii) the amount of any outstanding loan plus accrued interest (applicable to TSA contracts only). Please see "Surrendering your contract to receive its cash value" in "Accessing your money" later in this prospectus. YOUR CONTRACT'S VALUE IN THE VARIABLE INVESTMENT OPTIONS Each variable investment option invests in shares of a corresponding portfolio. Your value in each variable investment option is measured by "units." The value of your units will increase or decrease as though you had invested it in the corresponding portfolio's shares directly. Your value, however, will be reduced by the amount of the fees and charges that we deduct under the contract. The unit value for each variable investment option depends on the investment performance of that option, less daily charges for: (i) mortality and expense; (ii) administrative expenses; and (iii) distribution charges. On any day, your value in any variable investment option equals the number of units credited to that option, adjusted for any units purchased for or deducted from your contract under that option, multiplied by that day's value for one unit. The number of your contract units in any variable investment option does not change unless they are: (i) increased to reflect subsequent contributions; (ii) decreased to reflect a withdrawal; (iii) increased to reflect a transfer into, or decreased to reflect a transfer out of, a variable investment option; or (iv) increased or decreased to reflect a transfer of your loan amount from or to the loan reserve account under a TSA contract. In addition, when we deduct the enhanced death benefit, Guaranteed minimum income benefit and/or Guaranteed withdrawal benefit for life charges, the number of units credited to your contract will be reduced. A description of how unit values are calculated is found in the SAI. YOUR CONTRACT'S VALUE IN THE GUARANTEED INTEREST OPTION Your value in the guaranteed interest option at any time will equal: your contributions and transfers to that option, plus interest, minus withdrawals out of the option, and charges we deduct. YOUR CONTRACT'S VALUE IN THE FIXED MATURITY OPTIONS Your value in each fixed maturity option at any time before the maturity date is the market adjusted amount in each option, which reflects withdrawals out of the option and charges we deduct. This is equivalent to your fixed maturity amount increased or decreased by the market value adjustment. Your value, therefore, may be higher or lower than your contributions (less withdrawals) accumulated at the rate to maturity. At the maturity date, your value in the fixed maturity option will equal its maturity value, provided there have been no withdrawals or transfers. INSUFFICIENT ACCOUNT VALUE Your contract will terminate without value if your account value is insufficient to pay any applicable charges when due. Your account value could become insufficient due to withdrawals and/or poor market performance. Upon such termination, you will lose all your rights under your contract and any applicable guaranteed benefits, except as discussed below. See Appendix V later in this prospectus for any state variations with regard to terminating your contract. GUARANTEED MINIMUM INCOME BENEFIT NO LAPSE GUARANTEE. In certain circumstances, even if your account value falls to zero, your Guaranteed minimum income benefit will still have value. Please see "Contract features and benefits" earlier in this prospectus for information on this feature. GUARANTEED WITHDRAWAL BENEFIT FOR LIFE. If you elect the Guaranteed withdrawal benefit for life and your account value falls to zero due to a GWBL Excess withdrawal, we will terminate your contract and you will receive no payment or supplementary life annuity contract, even if your GWBL benefit base is greater than zero. If, however, your account value falls to zero, either due to a withdrawal or surrender that is not a GWBL Excess withdrawal or due to a deduction of charges, the benefit will still have value. See "Contract features and benefits" earlier in this prospectus. Determining your contract's value 35 3. Transferring your money among investment options - -------------------------------------------------------------------------------- TRANSFERRING YOUR ACCOUNT VALUE At any time before the date annuity payments are to begin, you can transfer some or all of your account value among the investment options, subject to the following: o If an owner or annuitant is age 76 or older, you must limit your transfers to fixed maturity options with maturities of five years or less. o We will not accept allocations to a fixed maturity option if on the date the contribution or transfer is to be applied, the rate to maturity is 3%. Also, the maturity dates may be no later than the date annuity payments are to begin. o If you already have an amount in a fixed maturity option, you may not add additional amounts to that same option. o If you make transfers out of a fixed maturity option other than at its maturity date, the transfer may cause a market value adjustment. o A transfer into the guaranteed interest option will not be permitted if such transfer would result in more than 25% of the account value being allocated to the guaranteed interest option, based on the account value as of the previous business day. In addition, we reserve the right to restrict transfers among variable investment options including limitations on the number, frequency, or dollar amount of transfers. Our current transfer restrictions are set forth in the "Disruptive transfer activity" section below. The maximum amount that may be transferred from the guaranteed interest option to any investment option (including amounts transferred pursuant to the fixed-dollar option and interest sweep option dollar cost averaging programs described under "Dollar Cost Averaging" below in this section) in any contract year is the greatest of: (a) 25% of the amount you have in the guaranteed interest option on the last day of the prior contract year; or (b) the total of all amounts transferred at your request from the guaranteed interest option to any of the Investment options in the prior contract year; or (c) 25% of amounts transferred or allocated to the guaranteed interest option during the current contract year. From time to time, we may remove the restrictions regarding transferring amounts out of the guaranteed interest option. If we do so, we will tell you. We will also tell you at least 45 days in advance of the day that we intend to reimpose the transfer restrictions. When we reimpose the transfer restrictions, if any dollar cost averaging transfer out of the guaranteed interest option causes a violation of the 25% outbound restriction, that dollar cost averaging program will be terminated for the current contract year. A new dollar cost averaging program can be started in the next or subsequent contract years. You may request a transfer in writing, by telephone using TOPS or through EQAccess. You must send in all written transfer requests directly to our processing office. Transfer requests should specify: (1) the contract number, (2) the dollar amounts or percentages of your current account value to be transferred, and (3) the investment options to and from which you are transferring. We will confirm all transfers in writing. Please see "Allocating your contributions" in "Contract features and benefits" for more information about your role in managing your allocations. DISRUPTIVE TRANSFER ACTIVITY You should note that the contract is not designed for professional "market timing" organizations, or other organizations or individuals engaging in a market timing strategy. The contract is not designed to accommodate programmed transfers, frequent transfers or transfers that are large in relation to the total assets of the underlying portfolio. Frequent transfers, including market timing and other program trading or short-term trading strategies, may be disruptive to the underlying portfolios in which the variable investment options invest. Disruptive transfer activity may adversely affect performance and the interests of long-term investors by requiring a portfolio to maintain larger amounts of cash or to liquidate portfolio holdings at a disadvantageous time or price. For example, when market timing occurs, a portfolio may have to sell its holdings to have the cash necessary to redeem the market timer's investment. This can happen when it is not advantageous to sell any securities, so the portfolio's performance may be hurt. When large dollar amounts are involved, market timing can also make it difficult to use long-term investment strategies because a portfolio cannot predict how much cash it will have to invest. In addition, disruptive transfers or purchases and redemptions of portfolio investments may impede efficient portfolio management and impose increased transaction costs, such as brokerage costs, by requiring the portfolio manager to effect more frequent purchases and sales of portfolio securities. Similarly, a portfolio may bear increased administrative costs as a result of the asset level and investment volatility that accompanies patterns of excessive or short-term trading. Portfolios that invest a significant portion of their assets in foreign securities or the securities of small- and mid-capitalization companies tend to be subject to the risks associated with market timing and short-term trading strategies to a greater extent than portfolios that do not. Securities trading in overseas markets present time zone arbitrage opportunities when events affecting portfolio securities values occur after the close of the overseas market but prior to the close of the U.S. markets. Securities of small- and mid-capitalization companies present arbitrage opportunities because the market for such securities may be less liquid than the market for securities of larger companies, which could result in pricing inefficiencies. Please see the prospectuses for the underlying portfolios for more information on how portfolio shares are priced. 36 Transferring your money among investment options We currently use the procedures described below to discourage disruptive transfer activity. You should understand, however, that these procedures are subject to the following limitations: (1) they primarily rely on the policies and procedures implemented by the underlying portfolios; (2) they do not eliminate the possibility that disruptive transfer activity, including market timing, will occur or that portfolio performance will be affected by such activity; and (3) the design of market timing procedures involves inherently subjective judgments, which we seek to make in a fair and reasonable manner consistent with the interests of all contract owners. We offer investment options with underlying portfolios that are part of AXA Premier VIP Trust and EQ Advisors Trust (together, the "trusts"). The trusts have adopted policies and procedures regarding disruptive transfer activity. They discourage frequent purchases and redemptions of portfolio shares and will not make special arrangements to accommodate such transactions. They aggregate inflows and outflows for each portfolio on a daily basis. On any day when a portfolio's net inflows or outflows exceed an established monitoring threshold, the trust obtains from us contract owner trading activity. The trusts currently consider transfers into and out of (or vice versa) the same variable investment option within a five business day period as potentially disruptive transfer activity. Each trust reserves the right to reject a transfer that it believes, in its sole discretion, is disruptive (or potentially disruptive) to the management of one of its portfolios. Please see the prospectuses for the trusts for more information. When a contract owner is identified as having engaged in a potentially disruptive transfer under the contract for the first time, a letter is sent to the contract owner explaining that there is a policy against disruptive transfer activity and that if such activity continues certain transfer privileges may be eliminated. If and when the contract owner is identified a second time as engaged in potentially disruptive transfer activity under the contract, we currently prohibit the use of voice, fax and automated transaction services. We currently apply such action for the remaining life of each affected contract. We or a trust may change the definition of potentially disruptive transfer activity, the monitoring procedures and thresholds, any notification procedures, and the procedures to restrict this activity. Any new or revised policies and procedures will apply to all contract owners uniformly. We do not permit exceptions to our policies restricting disruptive transfer activity. It is possible that a trust may impose a redemption fee designed to discourage frequent or disruptive trading by contract owners. As of the date of this prospectus, the trusts had not implemented such a fee. If a redemption fee is implemented by a trust, that fee, like any other trust fee, will be borne by the contract owner. Contract owners should note that it is not always possible for us and the underlying trusts to identify and prevent disruptive transfer activity. In addition, because we do not monitor for all frequent trading at the separate account level, contract owners may engage in frequent trading which may not be detected, for example, due to low net inflows or outflows on the particular day(s). Therefore, no assurance can be given that we or the trusts will successfully impose restrictions on all potentially disruptive transfers. Because there is no guarantee that disruptive trading will be stopped, some contract owners may be treated differently than others, resulting in the risk that some contract owners may be able to engage in frequent transfer activity while others will bear the effect of that frequent transfer activity. The potential effects of frequent transfer activity are discussed above. DOLLAR COST AVERAGING We offer a variety of dollar cost averaging programs. You may only participate in one program at a time. Each program allows you to gradually allocate amounts to available investment options by periodically transferring approximately the same dollar amount to the investment options you select. Regular allocations to the variable investment options will cause you to purchase more units if the unit value is low and fewer units if the unit value is high. Therefore, you may get a lower average cost per unit over the long term. These plans of investing, however, do not guarantee that you will earn a profit or be protected against losses. You may not make transfers to the fixed maturity options or the guaranteed interest option under a dollar cost averaging program. - -------------------------------------------------------------------------------- Units measure your value in each variable investment option. - -------------------------------------------------------------------------------- For information on how the dollar cost averaging program you select may affect certain guaranteed benefits see "Guaranteed minimum death benefit and Guaranteed minimum income benefit base" under "Contract features and benefits" earlier in this prospectus. GENERAL DOLLAR COST AVERAGING PROGRAM. If your value in the EQ/Money Market option is at least $2,000, you may choose, at any time, to have amounts transferred from that option to the other variable investment options on a monthly basis. You can also specify the number of transfers or instruct us to continue making the transfers until all amounts in the EQ/Money Market option have been transferred out. The minimum amount that we will transfer each time is $50. The maximum amount we will transfer is equal to your value in the EQ/Money Market option at the time the program is elected, divided by the number of transfers scheduled to be made. If, on any transfer date, your value in the EQ/Money Market option is equal to or less than the amount you have elected to have transferred, the entire amount will be transferred. The general dollar cost averaging program will then end. You may change the transfer amount once each contract year or cancel this program at any time. If you elect the Guaranteed withdrawal benefit for life, general dollar cost averaging is not available. INVESTMENT SIMPLIFIER You may choose from two automatic options for transferring amounts from the guaranteed interest option to the variable investment options. The transfer options are the "fixed-dollar option" and the "interest sweep." You may select one or the other, but not both. Election of either option is subject to the 25% allocation restriction into the guaranteed interest option. If you elect to use rebalancing option II (discussed below), you may not choose either of the investment simplifier options. FIXED-DOLLAR OPTION. Under this option you may elect to have a fixed-dollar amount transferred out of the guaranteed interest option and into the variable investment options of your choice (only AXA Alloca- Transferring your money among investment options 37 tion portfolios are available if you select GWBL). Transfers will be made on a monthly basis. You can specify the number of monthly transfers or instruct us to continue to make monthly transfers until all available amounts in the guaranteed interest option have been transferred out. In order to elect the fixed-dollar option, you must have a minimum of $5,000 in the guaranteed interest option on the date we receive your election form at our processing office. You also must elect to transfer at least $50 per month. The fixed-dollar option is subject to the guaranteed interest option transfer limitation described above under "Transferring your account value." INTEREST SWEEP. Under the interest sweep, we will make transfers on a monthly basis from amounts in the guaranteed interest option into the variable investment options of your choice (only the AXA Allocation portfolios and the EQ/Franklin Templeton Founding Strategy portfolio are available if you select GWBL). The amount we will transfer will be the interest credited to amounts you have in the guaranteed interest option from the last business day of the prior month to the last business day of the current month. You must have at least $7,500 in the guaranteed interest option on the date we receive your election and on the last business day of each month thereafter to participate in the interest sweep option. WHEN YOUR PARTICIPATION IN THE INVESTMENT SIMPLIFIER WILL END. Your participation in the investment simplifier will end: o Under the fixed-dollar option, when either the number of designated monthly transfers have been completed or the amount you have available in the guaranteed interest option has been transferred out. o Under the interest sweep, when the amount you have in the guaranteed interest option falls below $7,500 (determined on the last business day of the month) for two months in a row. o Under either option, on the date we receive at our processing office, your written request to cancel automatic transfers, or on the date your contract terminates. REBALANCING YOUR ACCOUNT VALUE Our rebalancing program offers two options that you can use to automatically reallocate your account value. Option I permits reallocation among the variable investment options only and option II permits reallocation among the variable investment options and the guaranteed interest option. You must tell us: (a) in whole percentages only, the percentage you want invested in each variable investment option (and the guaranteed interest option, if applicable), and (b) how often you want the rebalancing to occur (quarterly, semian nually, or annually). While your rebalancing program is in effect, we will transfer amounts among each variable investment option (and the guaranteed interest option, if applicable), so that the percentage of your account value that you specify is invested in each option at the end of each rebalancing date. Your entire account value in the variable investment options (and guaranteed interest option, if applicable) must be included in the rebalancing program. Election of Option II is subject to the 25% allocation restriction into the guaranteed interest option. Transfer restrictions out of the guaranteed interest option may apply in accordance with (a), (b) and (c) under "Transferring your account value," above, in this section. The initial transfer under the rebalancing program (based on your account value as of the day before the program is established) is not permitted to cause the transfer restrictions to be violated, and any rebalancing election that would be a violation of the transfer restrictions will not be put into effect. However, if the program can be established, once it is in effect, the transfer restrictions will be waived for the rebalancing transfers. - -------------------------------------------------------------------------------- Rebalancing does not assure a profit or protect against loss. You should periodically review your allocation percentages as your needs change. You may want to discuss the rebalancing program with your financial professional before electing the program. - -------------------------------------------------------------------------------- You may elect the rebalancing program at any time. To be eligible, you must have (i) at least $5,000 of account value in the variable investment options for option I, or (ii) at least $5,000 of account value in the variable investment options and the guaranteed interest option, combined for option II. Rebalancing is not available for amounts you have allocated in the fixed maturity options. If you elect to use option II, you may not choose either of the investment simplifier automatic options. If you request a transfer while the rebalancing program is in effect, we will process the transfer as requested. The rebalancing program will then remain in effect unless you request in writing that it be cancelled. You may change your allocation instructions or cancel the program at any time. For TSA contracts with outstanding loans only, on any rebalancing date where the amount to be transferred from the guaranteed interest option would cause a transfer from the Loan Reserve Account (which is part of the guaranteed interest option), the rebalancing program will be automatically cancelled. (See "Loans under TSA contracts" in "Accessing your money," later in this prospectus.) 38 Transferring your money among investment options 4. Accessing your money - -------------------------------------------------------------------------------- WITHDRAWING YOUR ACCOUNT VALUE You have several ways to withdraw your account value before annuity payments begin. The table below shows the methods available under each type of contract. More information follows the table. Please see "Insufficient account value" in "Determining your contract value" earlier in this prospectus and "How withdrawals affect your Guaranteed minimum income benefit and Guaranteed minimum death benefit" and "How withdrawals affect your GWBL and GWBL Guaranteed minimum death benefit" below for more information on how withdrawals affect your guaranteed benefits and could potentially cause your contract to terminate. - -------------------------------------------------------------------------------- Method of withdrawal ------------------------------------------------------------- Lifetime required minimum Contract Partial Systematic distribution - -------------------------------------------------------------------------------- NQ Yes Yes No - -------------------------------------------------------------------------------- IRA Yes Yes Yes - -------------------------------------------------------------------------------- Roth IRA Yes Yes No - -------------------------------------------------------------------------------- TSA* Yes* Yes* Yes* - -------------------------------------------------------------------------------- * Not if a loan is outstanding. GWBL AUTOMATIC PAYMENT PLANS (For contracts with GWBL only) You may take automatic withdrawals under either the Maximum payment plan or the Customized payment plan, as described below. Under either plan, you may take withdrawals on a monthly, quarterly or annual basis. You may change the payment frequency of your withdrawals at any time, and the change will become effective on the next contract date anniversary. You may elect either the Maximum payment plan or the Customized payment plan at any time. You must wait at least 28 days from contract issue before automatic payments begin. We will make the withdrawals on any day of the month that you select as long as it is not later than the 28th day of the month. MAXIMUM PAYMENT PLAN. Our Maximum payment plan provides for the withdrawal of the Guaranteed annual withdrawal amount in scheduled payments. The amount of the withdrawal will increase on contract anniversaries with any Annual ratchet or a 5% deferral bonus. If you elect the Maximum payment plan and start monthly or quarterly payments after the beginning of a contract year, the payments you take that year will be less than your Guaranteed annual withdrawal amount. If you take a partial withdrawal while the Maximum payment plan is in effect, we will terminate the plan. You may enroll in the plan again at any time, but the scheduled payments will not resume until the next contract date anniversary. CUSTOMIZED PAYMENT PLAN. Our Customized payment plan provides for the withdrawal of a fixed amount not greater than the Guaranteed annual withdrawal amount in scheduled payments. The amount of the withdrawal will not be increased on contract date anniversaries with the Annual ratchet or a 5% deferral bonus. If you would like to increase your payments, you must elect to change the scheduled payment amount. It is important to note that if you elect the Customized payment plan and start monthly or quarterly withdrawals after the beginning of a contract year, you could select scheduled payment amounts that would cause an Excess withdrawal. If your selected scheduled payment would cause an Excess withdrawal, we will notify you. As discussed earlier in this prospectus, Excess withdrawals may significantly reduce the value of the Guaranteed withdrawal benefit for life benefit. See "Effect of Excess withdrawals" in "Contract features and benefits" earlier in this prospectus. If you take a partial withdrawal while the Customized payment plan is in effect, we will terminate the plan. You may enroll in the plan again at any time, but the scheduled payments will not resume until the next contract date anniversary. We do not anticipate that Guaranteed annual withdrawals made under the GWBL maximum or customized payment plan will qualify for an age 59-1/2 penalty tax exception. See "Early distribution penalty tax" in "Tax Information" later in this prospectus. PARTIAL WITHDRAWALS (All contracts) You may take partial withdrawals from your account value at any time (unless you have a TSA contract that has an outstanding loan). The minimum amount you may withdraw is $300. If you elect to take partial withdrawals, you should monitor your withdrawals to ensure that you do not exceed your Guaranteed annual payment amount in any contract year and cause an Excess withdrawal. As discussed earlier in this prospectus, Excess withdrawals may significantly reduce the value of the GWBL benefit. See "Effect of Excess withdrawals" in "Contract features and benefits" earlier in this prospectus. Any request for a partial withdrawal will terminate your participation in either the Maximum payment plan or Customized payment plan, if applicable. SYSTEMATIC WITHDRAWALS (All contracts except contracts with GWBL) If you have at least $20,000 of account value in the variable investment options and the guaranteed interest option, you may take systematic withdrawals on a monthly or quarterly basis (unless you have a TSA contract that has an outstanding loan). The minimum amount you may take for each withdrawal is $250. We will make the withdrawals on any day of the month that you select as long as it is not Accessing your money 39 later than the 28th day of the month. If you do not select a date, your withdrawals will be made on the first day of the month. A check for the amount of the withdrawal will be mailed to you or, if you prefer, we will electronically transfer the money to your checking or savings account. You may withdraw either the amount of interest earned in the guaranteed interest option or a fixed-dollar amount from either the variable investment options or the guaranteed interest option. If you elect the interest option, a minimum of $20,000 must be maintained in the guaranteed interest option. If you elect the fixed-dollar option, you do not have to maintain a minimum amount. If you choose to have a fixed dollar amount taken from the variable investment options, you may elect to have the amount of the withdrawal subtracted from your account value in one of three ways: (1) pro rata from more than one variable investment option (without using up your total value in those options); or (2) pro rata from more than one variable investment option (until your value in those options is used up); or (3) you may specify a dollar amount from only one variable investment option. You can cancel the systematic withdrawal option at any time. You may elect to take systematic withdrawals at any time. If you own a TSA contract, you may not elect systematic withdrawals if you have a loan outstanding. Systematic withdrawals are not available if you have elected the Guaranteed withdrawal benefit for life. LIFETIME REQUIRED MINIMUM DISTRIBUTION WITHDRAWALS (IRA and TSA contracts only -- See "Tax information" later in this prospectus) We offer our "required minimum distribution (RMD) automatic withdrawal option" to help you meet lifetime required minimum distributions under federal income tax rules. This is not the exclusive way for you to meet these rules. After consultation with your tax adviser, you may decide to compute required minimum distributions yourself and request partial withdrawals. Before electing this account based withdrawal option, you should consider whether annuitization might be better in your situation. If you have elected certain additional benefits, such as the Guaranteed minimum death benefit, amounts withdrawn from the contract to meet required minimum distributions will reduce the benefit base and may limit the utility of the benefit. Also, the actuarial present value of additional contract benefits must be added to the account value in calculating required minimum distribution withdrawals from annuity contracts funding TSAs and IRAs, which could increase the amount required to be withdrawn. Please refer to "Tax information" later in this prospectus. You may elect this option in the year in which you reach age 70-1/2 or in any later year. To elect this option, you must have account value in the variable investment options and the guaranteed interest option of at least $2,000. The minimum amount we will pay out is $300 or your account value, whichever is less. If your account value is less than $500 after the withdrawal, we may terminate your contract and pay you its cash value. Currently, minimum distribution withdrawal payments will be made annually. See "Required minimum distributions" in "Tax information" later in this prospectus for your specific type of retirement arrangement. - -------------------------------------------------------------------------------- For IRA and TSA contracts, we will send a form outlining the distribution options available in the year you reach age 70-1/2 (if you have not begun your annuity payments before that time). - -------------------------------------------------------------------------------- Under TSA contracts, you may not elect our RMD automatic withdrawal option if a loan is outstanding. FOR CONTRACTS WITH GWBL. Generally, if you elect our RMD Automatic withdrawal option, any lifetime required minimum distribution payment we make to you under our RMD Automatic withdrawal option will not be treated as an Excess withdrawal. If you elect either the Maximum payment plan or the Customized payment plan AND our RMD Automatic withdrawal option, we will make an extra payment, if necessary, in December that will equal your lifetime required minimum distribution less all payments made through November 30 and any scheduled December payment. The combined automatic plan payments and lifetime required minimum distribution payment will not be treated as Excess withdrawals, if applicable. However, if you take any partial withdrawals in addition to your lifetime required minimum distribution and automatic payment plan payments, your applicable automatic payment plan will be terminated. The partial withdrawal may cause an Excess withdrawal. You may enroll in the plan again at any time, but the scheduled payments will not resume until the next contract anniversary. Further, your GWBL benefit base and Guaranteed annual withdrawal amount may be reduced. See "Effect of Excess Withdrawals" in "Contract features and benefits" earlier in this prospectus. If you elect our RMD Automatic withdrawal option and elect to take your Guaranteed annual withdrawal amount in partial withdrawals, we will make a payment, if necessary, in December that will equal your required minimum distribution less all withdrawals made through November 30. Any RMD payment we make to you under our RMD Automatic withdrawal option will not be treated as an Excess withdrawal; however, any other withdrawals in the same contract year may be treated as Excess withdrawals even if those withdrawals are less than your lifetime required minimum distribution payment. FOR CONTRACTS WITH THE GUARANTEED MINIMUM INCOME BENEFIT. The no lapse guarantee will not be terminated if a required minimum distribution payment using our RMD automatic withdrawal option causes your cumulative withdrawals in the contract year to exceed 6% of the Roll- Up benefit base (as of the beginning of the contract year or in the first contract year, all contributions received within the first 90 days). Owners of IRA and TSA contracts generally should not reset the Roll-Up benefit base if lifetime required minimum distributions must begin before the end of the new exercise waiting period. See "Guaranteed minimum death benefit/guaranteed minimum income benefit roll-up benefit base reset" in "Contract features and benefits" earlier in this prospectus. HOW WITHDRAWALS ARE TAKEN FROM YOUR ACCOUNT VALUE Unless you specify otherwise, we will subtract your withdrawals on a pro rata basis from your value in the variable investment options and 40 Accessing your money the guaranteed interest option. If there is insufficient value or no value in the variable investment options and the guaranteed interest option, any additional amount of the withdrawal required or the total amount of the withdrawal will be withdrawn from the fixed maturity options in the order of the earliest maturity date(s) first. If the contract is surrendered or annuitized or a death benefit is paid, we will deduct a pro rata portion of the charge for that year. A market value adjustment will apply to withdrawals from the fixed maturity options. AUTOMATIC DEPOSIT SERVICE If you are receiving Required Minimum Distribution payments from an IRA or TSA contract, you may use our automatic deposit service. Under this service we will automatically deposit the Required Minimum Distribution payment from your TSA or IRA contract directly into an existing EQUI-VEST(SM) or EQUI-VEST(SM) Express(SM) NQ or Roth IRA contract according to your allocation instructions. Please note that you must have compensation or earned income for the year of the contribution to make regular contributions to Roth IRAs. HOW WITHDRAWALS AFFECT YOUR GUARANTEED MINIMUM INCOME BENEFIT AND GUARANTEED MINIMUM DEATH BENEFIT In general, withdrawals (including required minimum distributions) will reduce your guaranteed benefits on a pro rata basis. Reduction on a pro rata basis means that we calculate the percentage of your current account value that is being withdrawn and we reduce your current benefit by the same percentage. For example, if your account value is $30,000 and you withdraw $12,000, you have withdrawn 40% of your account value. If your benefit was $40,000 before the withdrawal, it would be reduced by $16,000 ($40,000 X .40) and your new benefit after the withdrawal would be $24,000 ($40,000 - $16,000). With respect to the Guaranteed minimum income benefit and the greater of 6% Roll-Up to age 85 or the Annual Ratchet to age 85 enhanced death benefit, withdrawals will reduce each of the benefits' 6% Roll-Up to age 85 benefit base on a dollar-for-dollar basis, as long as the sum of withdrawals in a contract year is 6% or less of the 6% Roll-Up benefit base on the contract issue date or the most recent contract date anniversary, if later. For this purpose, in the first contract year, all contributions received in the first 90 days after contract issue will be considered to have been received on the first day of the contract year. In subsequent contract years, additional contributions made during the contract year do not affect the amount of withdrawals that can be taken on a dollar-for-dollar basis in that contract year. Once a withdrawal is taken that causes the sum of withdrawals in a contract year to exceed 6% of the benefit base on the most recent anniversary, that entire withdrawal (including required minimum distributions) and any subsequent withdrawals in that same contract year will reduce the benefit base pro rata. Reduction on a dollar-for-dollar basis means that your 6% Roll-Up to age 85 benefit base will be reduced by the dollar amount of the withdrawal for each Guaranteed benefit. The Annual Ratchet to age 85 benefit base will always be reduced on a pro rata basis. HOW WITHDRAWALS AFFECT YOUR GWBL AND GWBL GUARANTEED MINIMUM DEATH BENEFIT Your GWBL benefit base is not reduced by withdrawals until a withdrawal causes cumulative withdrawals in a contract year to exceed the Guaranteed annual withdrawal amount. Withdrawals that exceed the Guaranteed annual withdrawal amount, however, can significantly reduce your GWBL benefit base and Guaranteed annual withdrawal amount. For more information, see "Effect of Excess withdrawals" and "Other important considerations" under "Our Guaranteed withdrawal benefit for life ("GWBL")" in "Contract features and benefits" earlier in this Prospectus. Your GWBL Standard death benefit base and GWBL Enhanced death benefit base are reduced on a dollar for dollar basis up to the Guaranteed annual withdrawal amount. Once a withdrawal causes cumulative withdrawals in a contract year to exceed your Guaranteed annual withdrawal amount, however, your GWBL Standard death benefit base and GWBL Enhanced death benefit base are reduced on a pro rata basis. If the reduced GWBL Enhanced death benefit base is greater than your account value (after the Excess withdrawal), we will further reduce your GWBL Enhanced death benefit base to equal your account value. Any remaining Guaranteed minimum death benefit value will be transferred to the annuity payout contract as your "minimum death benefit." If an enhanced death benefit had been elected, its value as of the date the annuity payout contract issued will become your minimum death benefit, and it will no longer increase. The minimum death benefit will be reduced dollar-for-dollar by each payment. You are guaranteed to receive the minimum death benefit. If you or a successor owner (if applicable) die prior to receiving that amount, any remaining minimum death benefit will be paid to your beneficiary. WITHDRAWALS TREATED AS SURRENDERS If you request to withdraw more than 90% of a contract's current cash value, we will treat it as a request to surrender the contract for its cash value. In addition, we have the right to pay the cash value and terminate this contract if the account value is less than $500, or if you make a withdrawal that would result in a cash value of less than $500. The rules in the preceding sentence do not apply if the Guaranteed minimum income benefit no lapse guarantee is in effect on your contract. See "Surrendering your contract to receive its cash value" below. For the tax consequences of withdrawals, see "Tax information" later in this prospectus. SPECIAL RULES FOR THE GUARANTEED WITHDRAWAL BENEFIT FOR LIFE. We will not treat a withdrawal request that results in a withdrawal in excess of 90% of the contract's cash value as a request to surrender the contract unless it is a GWBL Excess withdrawal. In addition, we will not terminate your contract if either your account value or cash value falls below $500, unless it is due to a GWBL Excess withdrawal. In other words, if you take a GWBL Excess withdrawal that equals more than 90% of your cash value or reduces your cash value to less than $500, we will treat your request as a surrender of your contract even if your GWBL benefit base is greater than zero. Please also see "Insufficient account value" in "Determining your contract value" earlier in this prospectus. Please also see "Guaranteed withdrawal benefit for Accessing your money 41 life" in "Contract features and benefits," earlier in this prospectus, for more information on how withdrawals affect your guaranteed benefits and could potentially cause your contract to terminate. LOANS UNDER TSA CONTRACTS As a result of federal tax law changes beginning in 2007, loans are not available under an EQUIVEST(SM) At Retirement(SM) TSA contract without employer or plan administrator approval. Loan processing may not be completed until we receive all information and approvals required to process the loan at our processing office. If loans are available: You should read the terms and conditions on our loan request form carefully before taking out a loan. Your contract contains further details of the loan provision. We will not permit you to take a loan while you are enrolled in our "required minimum distribution (RMD) automatic withdrawal option." We may also restrict the availability of loans if you have not fully repaid the entire outstanding balance of any prior loan. If you exercise the GMIB option, any outstanding loan amount must be repaid or the loan will be defaulted. We permit only one loan to be outstanding at any time. When you take a loan we will transfer certain amounts to a loan reserve account. A loan with respect to an EQUI-VEST(SM) At Retirement(SM) TSA contract, will not be treated as a taxable distribution unless: o it exceeds limits of federal income tax rules; or o interest and principal are not paid when due. Loans under TSA contracts are discussed further in "Tax information" later in this prospectus. The tax consequences of failure to repay a loan when due are substantial and may result in severe restrictions on your ability to borrow amounts. Please see Appendix V later in this prospectus for any state restrictions you may be subject to if you take a loan from a TSA contract. Also, see "Tax information" later in this prospectus for general rules applicable to loans. LOAN RESERVE ACCOUNT. On the date your loan is processed, we will transfer to a "loan reserve account" an amount equal to the sum of (1) the loan amount, which will earn interest at the "loan reserve account rate" during the loan term and (2) 10% of the loan amount, which will earn interest at the guaranteed interest rate. You may not make any withdrawals or transfers among investment options or any other transaction from the loan reserve account until after repayment of the principal amount then due. You may specify on the 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 minus a maximum rate of 2%. SURRENDERING YOUR CONTRACT TO RECEIVE ITS CASH VALUE You may surrender your contract to receive its cash value at any time while an owner is living (or for contracts with non-natural owners while the annuitant is living) and before you begin to receive annuity payments. For a surrender to be effective, we must receive your written request and your contract at our processing office. We will determine your cash value on the date we receive the required information. All benefits under the contract will terminate as of the date we receive the required information, including the Guaranteed withdrawal benefit for life (if applicable) if your cash value is greater than your Guaranteed annual withdrawal amount remaining that year. If your cash value is not greater than your Guaranteed annual withdrawal amount remaining that year, then you will receive a supplementary life annuity contract. For more information, please see "Effect of your account value falling to zero" in "Contract features and benefits" earlier in this prospectus. Also, if the Guaranteed minimum income benefit no lapse guarantee is in effect, the benefit will terminate without value if your cash value plus any other withdrawals taken in the contract year exceed 6% of the Roll-Up benefit base (as of the beginning of the contract year). For more information, please see "Insufficient account value" in "Determining your contract value" and Guaranteed withdrawal benefit for life" in "Contract features and benefits" earlier in this prospectus. You may receive your cash value in a single sum payment or apply it to one or more of the annuity payout options. See "Your annuity payout options" below. For the tax consequences of surrenders, see "Tax information" later in this prospectus. WHEN TO EXPECT PAYMENTS Generally, we will fulfill requests for payments out of the variable investment options within seven calendar days after the date of the transaction to which the request relates. These transactions may include applying proceeds to a variable annuity, payment of a death benefit, payment of any amount you withdraw and, upon surrender, payment of the cash value. We may postpone such payments or applying proceeds for any period during which: (1) the New York Stock Exchange is closed or restricts trading, (2) the SEC determines that an emergency exists as a result of which sales of securities or determination of fair value of a variable investment option's assets is not reasonably practicable, or (3) the SEC, by order, permits us to defer payment to protect people remaining in the variable investment options. We can defer payment of any portion of your value in the guaranteed interest option and fixed maturity options (other than for death benefits) for up to six months while you are living. All payments are made by check and are mailed to you (or the payee named in a tax-free exchange) by U.S. mail, unless you request that we use an express delivery or wire transfer service at your expense. YOUR ANNUITY PAYOUT OPTIONS Deferred annuity contracts such as EQUI-VEST(SM) At Retirement(SM) provide for conversion to payout status at or before the contract's "maturity date." This is called annuitization. When your contract is annuitized, your EQUI-VEST(SM) At Retirement(SM) contract, all its benefits will terminate and you will receive a supplemental annuity payout contract ("payout option") that provides periodic payments for life or for a specified period of time. In general, the periodic payment amount is 42 Accessing your money determined by the account value or cash value of your EQUI-VEST(SM) At Retirement(SM) contract at the time of annuitization and the annuity purchase factor to which that value is applied, as described below. Alternatively, if you have a Guaranteed minimum income benefit, you may exercise your benefit in accordance with its terms. Your EQUI-VEST(SM) At Retirement(SM) contract guarantees that upon annuitization, your annuity account value will be applied to a guaranteed annuity purchase factor for a life annuity payout option. In addition, you may apply your account value or cash value, whichever is applicable, to any other annuity payout option that we may offer at the time of annuitization. We currently offer you several choices of annuity payout options. Some enable you to receive fixed annuity payments, which can be either level or increasing, and others enable you to receive variable annuity payments. Please see Appendix V later in this prospectus for variations that may apply in your state. You can choose from among the annuity payout options listed below. Restrictions may apply, depending on the type of contract you own or the owner's and annuitant's ages at contract issue. In addition, if you are exercising your Guaranteed minimum income benefit, your choice of payout options are those that are available under the Guaranteed minimum income benefit (see "Guaranteed minimum income benefit option" in "Contract features and benefits" earlier in this prospectus). If you elect the Guaranteed withdrawal benefit for life and choose to annuitize your contract, the Guaranteed withdrawal benefit for life will terminate without value even if your GWBL benefit base is greater than zero. Payments you receive under the annuity payout option you select may be less than you would have received under GWBL. See "Guaranteed withdrawal benefit for life" in "Contract features and benefits" earlier in this prospectus for further information. - -------------------------------------------------------------------------------- Fixed annuity payout options Life annuity Life annuity with period certain Life annuity with refund certain Period certain annuity - -------------------------------------------------------------------------------- Variable Immediate Annuity Life annuity payout options (as described in Life annuity with period certain a separate prospectus for this option) - -------------------------------------------------------------------------------- Income Manager(SM) payout options Life annuity with period certain (available for owners and annu- Period certain annuity itants age 83 or less at contract issue) (as described in a sepa- rate prospectus for this option) - -------------------------------------------------------------------------------- o Life annuity: An annuity that guarantees payments for the rest of the annuitant's life. Payments end with the last monthly payment before the annuitant's death. Because there is no continuation of benefits following the annuitant's death with this payout option, it provides the highest monthly payment of any of the life annuity options, so long as the annuitant is living. o Life annuity with period certain: An annuity that guarantees payments for the rest of the annuitant's life. If the annuitant dies before the end of a selected period of time ("period certain"), payments continue to the beneficiary for the balance of the period certain. The period certain cannot extend beyond the annuitant's life expectancy. A life annuity with a period certain is the form of annuity under the contracts that you will receive if you do not elect a different payout option. In this case, the period certain will be based on the annuitant's age and will not exceed 10 years. o Life annuity with refund certain: An annuity that guarantees payments for the rest of the annuitant's life. If the annuitant dies before the amount applied to purchase the annuity option has been recovered, payments to the beneficiary will continue until that amount has been recovered. This payout option is available only as a fixed annuity. o Period certain annuity: An annuity that guarantees payments for a specific period of time, usually 5, 10, 15, or 20 years. This guaranteed period may not exceed the annuitant's life expectancy. This option does not guarantee payments for the rest of the annuitant's life. It does not permit any repayment of the unpaid principal, so you cannot elect to receive part of the payments as a single sum payment with the rest paid in monthly annuity payments. This payout option is available only as a fixed annuity. The life annuity, life annuity with period certain, and life annuity with refund certain payout options are available on a single life or joint and survivor life basis. The joint and survivor life annuity guarantees payments for the rest of the annuitant's life and, after the annuitant's death, payments continue to the survivor. We may offer other payout options not outlined here. Your financial professional can provide details. FIXED ANNUITY PAYOUT OPTIONS With fixed annuities, we guarantee fixed annuity payments will be based either on the tables of guaranteed annuity purchase factors in your contract or on our then current annuity purchase factors, whichever is more favorable for you. VARIABLE IMMEDIATE ANNUITY PAYOUT OPTIONS Variable Immediate Annuities are described in a separate prospectus that is available from your financial professional. Before you select a Variable Immediate Annuity payout option, you should read the prospectus which contains important information that you should know. Variable Immediate Annuities may be funded through your choice of available variable investment options investing in portfolios of AXA Premier VIP Trust and EQ Advisors Trust. The contract also offers a fixed income annuity payout option that can be elected in combination with the variable annuity payout option. The amount of each variable income annuity payment will fluctuate, depending upon the performance of the variable investment options, and whether the actual rate of investment return is higher or lower than an assumed base rate. INCOME MANAGER(SM) PAYOUT OPTIONS The Income Manager(SM) payout annuity contracts differ from the other payout annuity contracts. The other payout annuity contracts may provide higher or lower income levels, but do not have all the features of the Income Manager(SM) payout annuity contract. You may request an illustration of the Income Manager(SM) payout annuity contract from your financial professional. Income Manager(SM) payout options are Accessing your money 43 described in a separate prospectus that is available from your financial professional. Before you select an Income Manager(SM) payout option, you should read the prospectus which contains important information that you should know. Both NQ and IRA Income Manager(SM) payout options provide guaranteed level payments. The Income Manager(SM) (life annuity with period certain) also provides guaranteed increasing payments (NQ contracts only). For TSA contracts, if you want to elect an Income Manager(SM) payout option, we will first roll over amounts in such contract to an IRA contract. You may choose to apply only part of the account value of your EQUI-VEST(SM) At Retirement(SM) contract to an Income Manager(SM) payout annuity. In this case, we will consider any amounts applied as a withdrawal from your EQUI-VEST(SM) At Retirement(SM). For the tax consequences of withdrawals, see "Tax information" later in this prospectus. The Income Manager(SM) payout options are not available in all states. THE AMOUNT APPLIED TO PURCHASE AN ANNUITY PAYOUT OPTION The amount applied to purchase an annuity payout option varies, depending on the payout option that you choose, and the timing of your purchase as it relates to any market value adjustments. If amounts in a fixed maturity option are used to purchase any annuity payout option, prior to the maturity date, a market value adjustment will apply. SELECTING AN ANNUITY PAYOUT OPTION When you select a payout option, we will issue you a separate written agreement confirming your right to receive annuity payments. We require you to return your contract before annuity payments begin. The contract owner and annuitant must meet the issue age and payment requirements. You can choose the date annuity payments begin but it may not be earlier than thirteen months from the EQUI-VEST(SM) At Retirement(SM) contract date. Except with respect to the Income Manager(SM) annuity payout options, where payments are made on the 15th day of each month, you can change the date your annuity payments are to begin anytime before that date as long as you do not choose a date later than the 28th day of any month. Also, that date may not be later than the annuity maturity date described below. The amount of the annuity payments will depend on the amount applied to purchase the annuity and the applicable annuity purchase factors, discussed earlier. The amount of each annuity payment will decrease if you increase the duration or frequency of a non-life contingent annuity or the certain period of a life contingent annuity. Once elected, the frequency with which you receive payments cannot be changed. If, at the time you elect a payout option, the amount to be applied is less than $2,000 or the initial payment under the form elected is less than $20 monthly, we reserve the right to pay the account value in a single sum rather than as payments under the payout option chosen. If you select an annuity payout option and payments have begun, no change can be made other than: (i) transfers (if permitted in the future) among the variable investment options if a Variable Immediate Annuity payout option is selected; and (ii) withdrawals or contract surrender (subject to a market value adjustment) if an Income Manager(SM) payout option is chosen. ANNUITY MATURITY DATE Your contract has a maturity date by which you must either take a lump sum withdrawal or select an annuity payout option. The maturity date is based on the age of the annuitant at contract issue and cannot be changed. The maturity date is generally the contract date anniversary that follows the annuitant's 95th birthday. We will send a notice with the annual statement one year prior to the maturity age. Please see Appendix V later in this prospectus for variations that may apply in your state. 44 Accessing your money 5. Charges and expenses - -------------------------------------------------------------------------------- CHARGES THAT AXA EQUITABLE DEDUCTS We deduct the following charges each day from the net assets of each variable investment option. These charges are reflected in the unit values of each variable investment option: o A mortality and expense risks charge o An administrative charge o A distribution charge We deduct the following charges from your account value. When we deduct these charges from your variable investment options, we reduce the number of units credited to your contract: o On each contract date anniversary, a charge for each optional benefit that you elect: a death benefit (other than the Standard and GWBL Standard death benefit); the Guaranteed minimum income benefit; and the Guaranteed withdrawal benefit for life. o At the time annuity payments are to begin -- charges designed to approximate certain taxes that may be imposed on us, such as premium taxes in your state. A variable immediate annuity administrative fee may also apply. More information about these charges appears below. We will not increase these charges for the life of your contract, except as noted. The charges under the contracts are designed to cover, in the aggregate, our direct and indirect costs of selling, administering and providing benefits under the contracts. They are also designed, in the aggregate, to compensate us for the risks of loss we assume pursuant to the contracts. If, as we expect, the charges that we collect from the contracts exceed our total costs in connection with the contracts, we will earn a profit. Otherwise, we will incur a loss. The rates of certain of our charges have been set with reference to estimates of the amount of specific types of expenses or risks that we will incur. In most cases, this prospectus identifies such expenses or risks in the name of the charge; however, the fact that any charge bears the name of, or is designed primarily to defray, a particular expense or risk does not mean that the amount we collect from that charge will never be more than the amount of such expense or risk. Nor does it mean that we may not also be compensated for such expense or risk out of any other charges we are permitted to deduct by the terms of the contract. MORTALITY AND EXPENSE RISKS CHARGE We deduct a daily charge from the net assets in each variable investment option to compensate us for mortality and expense risks, including the Standard death benefit. The daily charge is equivalent to an annual rate of 0.80% of the net assets in each variable investment option. The mortality risk we assume is the risk that annuitants as a group will live for a longer time than our actuarial tables predict. If that happens, we would be paying more in annuity income than we planned. We also assume a risk that the mortality assumptions reflected in our guaranteed annuity payment tables, shown in each contract, will differ from actual mortality experience. Lastly, we assume a mortality risk to the extent that at the time of death, the guaranteed minimum death benefit exceeds the cash value of the contract. The expense risk we assume is the risk that our expenses in providing the benefits and administering the contracts will be greater than we expect. ADMINISTRATIVE CHARGE We deduct a daily charge from the net assets in each variable investment option to compensate us for administrative expenses under the contracts. The daily charge is equivalent to an annual rate of 0.30% of the net assets in each variable investment option. DISTRIBUTION CHARGE We deduct a daily charge from the net assets in each variable investment option to compensate us for a portion of our sales expenses under the contracts. The daily charge is equivalent to an annual rate of 0.20% of the net assets in each variable investment option. ANNUAL ADMINISTRATIVE CHARGE There is no annual administrative charge for your EQUI-VEST(SM) At Retirement(SM) contract. GUARANTEED MINIMUM DEATH BENEFIT CHARGE ANNUAL RATCHET TO AGE 85. If you elect the Annual Ratchet to age 85 enhanced death benefit, we deduct a charge annually from your account value on each contract date anniversary for which it is in effect. The charge is equal to 0.25% of the Annual Ratchet to age 85 benefit base. GREATER OF 6% ROLL-UP TO AGE 85 OR ANNUAL RATCHET TO AGE 85. If you elect this enhanced death benefit, we deduct a charge annually from your account value on each contract date anniversary for which it is in effect. The charge is equal to 0.60% of the greater of the 6% Roll-Up to age 85 or the Annual Ratchet to age 85 benefit base. GWBL ENHANCED DEATH BENEFIT. This death benefit is only available if you elect the GWBL. If you elect this enhanced death benefit, we deduct a charge annually from your account value on each contract date anniversary. The charge is equal to 0.30% of the GWBL Enhanced death benefit base. We will deduct this charge from your value in the variable investment options and the guaranteed interest option on a pro rata basis. If those amounts are insufficient, we will deduct all or a portion of the charge from the fixed maturity options (if available) in the order of the earliest maturity date(s) first. If the contract is surrendered or annuitized or a death benefit is paid, on other than a contract date anniversary, we Charges and expenses 45 will deduct a pro rata portion of the charge for that year. A market value adjustment will apply to deductions from the fixed maturity options. If your account value is insufficient to pay this charge, your contract will terminate without value and you will lose any applicable guaranteed benefits except as noted under "Insufficient account value" in "Determining your contract value" earlier in this prospectus. STANDARD DEATH BENEFIT AND GWBL STANDARD DEATH BENEFIT. There is no additional charge for these standard death benefits. GUARANTEED MINIMUM INCOME BENEFIT CHARGE If you elect the Guaranteed minimum income benefit, we deduct a charge annually from your account value on each contract date anniversary until such time as you exercise the Guaranteed minimum income benefit, elect another annuity payout option, or the contract date anniversary after the owner reaches age 85, whichever occurs first. The charge is equal to 0.65% of the applicable benefit base in effect on the contract date anniversary. We will deduct this charge from your value in the variable investment options and the guaranteed interest option (see Appendix V later in this prospectus to see if deducting this charge from the guaranteed interest option is permitted in your state) on a pro rata basis. If those amounts are still insufficient, we will deduct all or a portion of the charge from the fixed maturity options in the order of the earliest maturity date(s) first. If the contract is surrendered or annuitized or a death benefit is paid on other than a contract date anniversary, we will deduct a pro rata portion of the charge for that year. A market value adjustment will apply to deductions from the fixed maturity options. If your account value is insufficient to pay this charge, your contract will terminate without value and you will lose any applicable guaranteed benefits except as noted under "Insufficient account value" in "Determining your contract value" earlier in this prospectus. GUARANTEED WITHDRAWAL BENEFIT FOR LIFE BENEFIT CHARGE If you elect the Guaranteed withdrawal benefit for life ("GWBL"), we deduct a charge annually as a percentage of your GWBL benefit base on each contract anniversary. If the single life option is in effect, the charge is equal to 0.60%. If the Joint Life option is in effect, the charge is equal to 0.75%. We will deduct this charge from your value in the permitted variable investment option and the guaranteed interest option (see Appendix V later in this prospectus to see if deducting this charge from the guaranteed interest option is permitted in your state) on a pro rata basis. If the contract is surrendered or annuitized or a death benefit is paid on other than a contract date anniversary, we will deduct a pro rata portion of the charge for that year. GWBL BENEFIT BASE ANNUAL RATCHET CHARGE. If your GWBL benefit base ratchets, we reserve the right to raise the charge at the time of an annual ratchet. The maximum charge for the single life option is 0.75%. The maximum charge for the Joint Life option is 0.90%. The increased charge, if any, will apply as of the contract date anniversary on which your GWBL benefit base ratchets and on all contract date anniversaries thereafter. We will permit you to opt out of the ratchet if the charge increases. For Joint life contracts, if the successor owner is dropped before you take your first withdrawal, we will adjust the charge at that time to reflect a Single life. If the successor owner is dropped after withdrawals begin, the charge will continue based on a Joint life basis. CHARGES FOR STATE PREMIUM AND OTHER APPLICABLE TAXES We deduct a charge designed to approximate certain taxes that may be imposed on us, such as premium taxes in your state. Generally, we deduct the charge from the amount applied to provide an annuity payout option. The current tax charge that might be imposed varies by jurisdiction and ranges from 0% to 3.5%. VARIABLE IMMEDIATE ANNUITY ANNUITIZATION PAYOUT OPTION ADMINISTRATIVE FEE We deduct a fee of $350 from the amount to be applied to the Variable Immediate Annuity annuitization payout option. This option may not be available at the time you elect to annuitize or it may have a different charge. CHARGES THAT THE TRUSTS DEDUCT The Trusts deduct charges for the following types of fees and expenses: o Management fees ranging from 0.10% to 1.40%. o 12b-1 fees of 0.25%. o Operating expenses, such as trustees' fees, independent public accounting firms' fees, legal counsel fees, administrative service fees, custodian fees and liability insurance. o Investment-related expenses, such as brokerage commissions. These charges are reflected in the daily share price of each portfolio. Since shares of each Trust are purchased at their net asset value, these fees and expenses are, in effect, passed on to the variable investment options and are reflected in their unit values. Certain portfolios available under the contract in turn invest in shares of other portfolios of AXA Premier VIP Trust and EQ Advisors Trust (collectively, the "underlying portfolios"). The underlying portfolios each have their own fees and expenses, including management fees, operating expenses, and investment related expenses such as brokerage commissions. For more information about these charges, please refer to the prospectuses for the Trusts. GROUP OR SPONSORED ARRANGEMENTS For certain group or sponsored arrangements, we may reduce the mortality and expense risks charge or change the minimum initial contribution requirements. We also may change the Guaranteed minimum income benefit or the Guaranteed minimum death benefit, or offer variable investment options that invest in shares of the Trusts that are not subject to the 12b-1 fee. Group arrangements include those in which a trustee or an employer, for example, purchases contracts covering a group of individuals on a group basis. Group arrangements are not available for IRA and Roth IRA contracts. Sponsored arrangements include those in which an employer allows us to sell contracts to its employees or retirees on an individual basis. 46 Charges and expenses Our costs for sales, administration and mortality generally vary with the size and stability of the group or sponsoring organization, among other factors. We take all these factors into account when reducing charges. To qualify for reduced charges, a group or sponsored arrangement must meet certain requirements, such as requirements for size and number of years in existence. Group or sponsored arrangements that have been set up solely to buy contracts or that have been in existence less than six months will not qualify for reduced charges. We also may establish different rates to maturity for the fixed maturity options under different classes of contracts for group or sponsored arrangements. We will make these and any similar reductions according to our rules in effect when we approve a contract for issue. We may change these rules from time to time. Any variation will reflect differences in costs or services and will not be unfairly discriminatory. Group or sponsored arrangements may be governed by federal income tax rules, ERISA or both. We make no representations with regard to the impact of these and other applicable laws on such programs. We recommend that employers, trustees, and others purchasing or making contracts available for purchase under such programs seek the advice of their own legal and benefits advisers. OTHER DISTRIBUTION ARRANGEMENTS We may reduce or eliminate charges when sales are made in a manner that results in savings of sales and administrative expenses, such as sales through persons who are compensated by clients for recommending investments and who receive no commission or reduced commissions in connection with the sale of the contracts. We will not permit a reduction or elimination of charges where it would be unfairly discriminatory. Charges and expenses 47 6. Payment of death benefit - -------------------------------------------------------------------------------- YOUR BENEFICIARY AND PAYMENT OF BENEFIT You designate your beneficiary when you apply for your contract. You may change your beneficiary at any time. The change will be effective as of the date the written request for the change is received in our processing office. We are not responsible for any beneficiary change request that we do not receive. We will send you a written confirmation when we receive your request. Under NQ jointly owned contracts, the surviving owner is considered the beneficiary, and will take the place of any other beneficiary. You may be limited as to the beneficiary you can designate in a TSA contract. The death benefit is equal to your account value (without adjustment for any otherwise applicable negative market value adjustment) or, if greater, the applicable Guaranteed minimum death benefit. We determine the amount of the death benefit (other than the applicable Guaranteed minimum death benefit) as of the date we receive satisfactory proof of the owner's (or older joint owner's, if applicable) death, any required instructions for the method of payment, forms necessary to effect payment and any other information we may require. The amount of the applicable Guaranteed minimum death benefit will be such Guaranteed minimum death benefit as of the date of the owner's (or older joint owner's, if applicable) death adjusted for any subsequent withdrawals. For TSA contracts with outstanding loans, we will reduce the amount of the death benefit by the amount of the outstanding loan, including any accrued but unpaid interest on the date that the death benefit payment is made. In general, if the annuitant dies, the owner (or older joint owner, if applicable) will become the annuitant, and the death benefit is not payable. EFFECT OF THE OWNER'S DEATH In general, if you die while the contract is in force, the contract terminates and the applicable death benefit is paid. If the NQ contract is jointly owned, the death benefit is payable upon the death of the older owner. If the NQ contract has a non-natural owner, the death benefit is payable upon the death of the annuitant. For IRA and NQ Joint life contracts with GWBL, the death benefit is paid to the beneficiary at the death of the second to die of the owner and successor owner. There are various circumstances, however, in which the contract can be continued by a successor owner or under a Beneficiary continuation option ("BCO"). For NQ contracts with spouses who are joint owners, the surviving spouse will automatically be able to continue the contract under the "Spousal continuation" feature, as discussed below. The determination of spousal status is made under applicable state law; however, in the event of a conflict between federal and state law, we follow federal rules. For NQ contracts with non-spousal joint owners, the joint owner will be able to continue the contract as a successor owner subject to the limitations discussed below under "Non-spousal joint owner contract continuation." If you are the sole owner and your spouse is the sole primary beneficiary, your surviving spouse can continue the contract as a successor owner as discussed below, under "Spousal continuation." If the beneficiary is not the surviving spouse or if the surviving joint owner is not the surviving spouse, federal income tax rules generally require payments of amounts under the contract to be made within five years of an owner's death (the "5-year rule"). In certain cases, an individual beneficiary or non-spousal surviving joint owner may opt to receive payments over his/her life (or over a period not in excess of his/her life expectancy) if payments commence within one year of the owner's death. Any such election must be made in accordance with our rules at the time of death. If the beneficiary of a contract with one owner or a younger non-spousal joint owner continues the contract under the 5-year rule, in general, all guaranteed benefits and their charges will end. For more information on non-spousal joint owner contract continuation, see the section immediately below. NON-SPOUSAL JOINT OWNER CONTRACT CONTINUATION (NQ only) Upon the death of either owner, the surviving joint owner becomes the sole owner. Any death benefit (if the older owner dies first) or cash value (if the younger owner dies first) must be fully paid to the surviving joint owner within five years. The surviving owner may instead elect to receive a life annuity, provided payments begin within one year of the deceased owner's death. If the life annuity is elected, the contract and all benefits terminate. If the older owner dies first, we will increase the account value to equal the Guaranteed minimum death benefit, if higher. The surviving owner can elect to (1) take a lump sum payment; (2) annuitize within one year; (3) continue the contract for up to five years; or (4) continue the contract under the Beneficiary continuation option. If the contract continues, the Guaranteed minimum death benefit and charge and the Guaranteed minimum income benefit and charge will then be discontinued. No subsequent contributions will be permitted. If the younger owner dies first, the surviving owner can elect to (1) take a lump sum payment; (2) annuitize within one year; (3) continue the contract for up to five years; or (4) continue the contract under the Beneficiary continuation option. If the contract continues, the death benefit is not payable, and the Guaranteed minimum death benefit, if applicable, will continue without change. If the Guaranteed minimum income benefit cannot be exercised within the period required by federal tax laws, the benefit and charge will terminate as of the date we receive proof of death. No subsequent contributions will be permitted. SPOUSAL CONTINUATION (IRA and NQ only) If you are the contract owner and your spouse is the sole primary beneficiary or you jointly own an NQ contract with your spouse, your spouse may elect to continue the contract as successor owner upon 48 Payment of death benefit your death. The determination of spousal status is made under applicable state law; however, in the event of a conflict between federal and state law, we follow federal rules. Spousal beneficiaries (who are not also joint owners) must be 85 or younger as of the date of the deceased spouse's death in order to continue the contract under Spousal continuation. The younger spouse joint owner (for NQ contracts only) or the spouse beneficiary (under a Single owner contract), may elect to receive the death benefit or continue the contract, as follows: o As of the date we receive satisfactory proof of your death, any required instructions, information and forms necessary, we will increase the account value to equal the elected Guaranteed minimum death benefit as of the date of your death if such death benefit is greater than such account value and adjusted for any subsequent withdrawals. The increase in the account value will be allocated to the investment options according to the allocation percentages we have on file for your contract. o The applicable Guaranteed minimum death benefit option may continue as follows: o If the surviving spouse is age 75 or younger on the date of your death, and you were age 84 or younger at death, the Guaranteed minimum death benefit you elected continues and will continue to grow according to its terms until the contract date anniversary following the date the surviving spouse reaches age 85. o If the surviving spouse is age 75 or younger on the date of your death, and you were age 85 or older at death, we will reinstate the Guaranteed minimum death benefit you elected. The benefit base (which had previously been frozen at age 85) will now continue to grow according to its terms until the contract date anniversary following the date the surviving spouse reaches age 85. o If the surviving spouse is age 76 or over on the date of your death, the Guaranteed minimum death benefit and charge will be discontinued. o If the Guaranteed minimum death benefit continues, the Guaranteed minimum death benefit/Guaranteed minimum income benefit roll-up benefit base reset, if applicable, will be based on the surviving spouse's age at the time of your death. The next available reset will be based on the contract issue date or last reset, as applicable. o For single owner contracts with the GWBL Enhanced death benefit, we will discontinue the benefit and charge. However, we will freeze the GWBL Enhanced death benefit benefit base as of the date of your death (less subsequent withdrawals), and pay it upon your spouse's death. o The Guaranteed minimum income benefit may continue if the benefit had not already terminated and the benefit will be based on the surviving spouse's age at the date of the deceased spouse's death. See "Guaranteed minimum income benefit" in "Contract features and benefits" earlier in this prospectus. o If you elect GWBL on a Joint life basis, the benefit and charge will remain in effect and no death benefit is payable until the death of the surviving spouse. No subsequent contributions will be permitted. If you elect GWBL on a Single life basis, the benefit and charge will terminate. o If the deceased spouse was the annuitant, the surviving spouse becomes the annuitant. Where an NQ contract is owned by a Living Trust, as defined in the contract, and at the time of the annuitant's death the annuitant's spouse is the sole beneficiary of the Living Trust, the Trustee, as owner of the contract, may request that the spouse be substituted as annuitant as of the date of the annuitant's death. No further change of annuitant will be permitted. For jointly owned NQ contracts, if the younger spouse dies first no death benefit is paid, and the contract continues as follows: o The Guaranteed minimum death benefit and the Guaranteed minimum income benefit continue to be based on the older spouse's age for the life of the contract. o If the deceased spouse was the annuitant, the surviving spouse becomes the annuitant. o If you elect GWBL, the benefit and charge will remain in effect and no death benefit is payable until the death of the surviving spouse. If there is a change in owner or primary beneficiary, the Spousal continuation option will be terminated. If you divorce, Spousal continuation does not apply. BENEFICIARY CONTINUATION OPTION This feature permits a designated individual, on the contract owner's death, to maintain a contract in the deceased contract owner's name and receive distributions under the contract, instead of receiving the death benefit in a single sum. We make this option available to beneficiaries under traditional IRA, Roth IRA, TSA and NQ contracts. Please speak with your financial professional or see Appendix V later in this prospectus for further information. For Joint life contracts with GWBL, BCO is only available after the death of the second owner. BENEFICIARY CONTINUATION OPTION FOR TRADITIONAL IRA, ROTH IRA AND TSA CONTRACTS ONLY. The beneficiary continuation option must be elected by September 30th of the year following the calendar year of your death and before any other inconsistent election is made. Beneficiaries who do not make a timely election will not be eligible for this option. If the election is made, then, as of the date we receive satisfactory proof of death, any required instructions, information and forms necessary to effect the beneficiary continuation option feature, we will increase the account value to equal the applicable death benefit if such death benefit is greater than such account value adjusted for any subsequent withdrawals. Generally, payments will be made once a year to the beneficiary over the beneficiary's life expectancy (determined in the calendar year after your death and determined on a term certain basis). These payments must begin no later than December 31st of the calendar year after the Payment of death benefit 49 year of your death. For sole spousal beneficiaries, payments may begin by December 31st of the calendar year in which you would have reached age 70-1/2, if such time is later. For traditional IRA and TSA contracts, if you die before your Required Beginning Date for Required Minimum Distributions, as discussed later in this prospectus in "Tax information" under "Individual retirement arrangements (IRAs)," the beneficiary may choose the "5-year rule" option instead of annual payments over life expectancy. The 5-year rule is always available to beneficiaries under Roth IRA contracts. If the beneficiary chooses this option, the beneficiary may take withdrawals as desired, but the entire account value must be fully withdrawn by December 31st of the calendar year which contains the fifth anniversary of your death. Under the beneficiary continuation option for IRA, Roth IRA, and TSA contracts: o The contract continues with your name on it for the benefit of your beneficiary. o The beneficiary replaces the deceased owner as annuitant. o This feature is only available if the beneficiary is an individual. Certain trusts with only individual beneficiaries will be treated as individuals for this purpose. o If there is more than one beneficiary, each beneficiary's share will be separately accounted for. It will be distributed over the beneficiary's own life expectancy, if payments over life expectancy are chosen. o The minimum amount that is required in order to elect the beneficiary continuation option is $5,000 for each beneficiary. o The beneficiary may make transfers among the investment options but no subsequent contributions will be permitted. o If you had elected the Guaranteed minimum income benefit, an optional enhanced death benefit, GWBL or the GWBL Enhanced death benefit under the contract, they will no longer be in effect and charges for such benefits will stop. Also, any Guaranteed minimum death benefit feature will no longer be in effect. o Loans will no longer be available for TSA contracts. o The beneficiary may choose at any time to withdraw all or a portion of the account value. o Any partial withdrawal must be at least $300. o Your beneficiary will have the right to name a beneficiary to receive any remaining interest in the contract. o Upon the death of your beneficiary, the beneficiary he or she has named has the option to either continue taking required minimum distributions based on the remaining life expectancy of the deceased beneficiary or to receive any remaining interest in the contract in a lump sum. The option elected will be processed when we receive satisfactory proof of death, any required instructions for the method of payment and any required information and forms necessary to effect payment. BENEFICIARY CONTINUATION OPTION FOR NQ CONTRACTS ONLY. This feature, also known as Inherited annuity, may only be elected when the NQ contract owner dies before the annuity maturity date, whether or not the owner and the annuitant are the same person. For purposes of this discussion, "beneficiary" refers to the successor owner. This feature must be elected within 9 months following the date of your death and before any other inconsistent election is made. Beneficiaries who do not make a timely election will not be eligible for this option. Generally, payments will be made once a year to the beneficiary over the beneficiary's life expectancy, determined on a term certain basis and in the year payments start. These payments must begin no later than one year after the date of your death and are referred to as "scheduled payments." The beneficiary may choose the "5-year rule" instead of scheduled payments over life expectancy. If the beneficiary chooses the 5-year rule, there will be no scheduled payments. Under the 5-year rule, the beneficiary may take withdrawals as desired, but the entire account value must be fully withdrawn by the fifth anniversary of your death. Under the beneficiary continuation option for NQ contracts: o This feature is only available if the beneficiary is an individual. It is not available for any entity such as a trust, even if all of the beneficiaries of the trust are individuals. o The beneficiary automatically replaces the existing annuitant. o The contract continues with your name on it for the benefit of your beneficiary. o If there is more than one beneficiary, each beneficiary's share will be separately accounted for. It will be distributed over the respective beneficiary's own life expectancy, if scheduled payments are chosen. o The minimum amount that is required in order to elect the beneficiary continuation option is $5,000 for each beneficiary. o The beneficiary may make transfers among the investment options but no subsequent contributions will be permitted. o If you had elected the Guaranteed minimum income benefit, an optional enhanced death benefit, GWBL or the GWBL Enhanced death benefit under the contract, they will no longer be in effect and charges for such benefits will stop. Also, any Guaranteed minimum death benefit feature will no longer be in effect. o If the beneficiary chooses the "5-year rule," withdrawals may be made at any time. If the beneficiary instead chooses scheduled payments, the beneficiary must also choose between two potential withdrawal options at the time of election. If the beneficiary chooses "Withdrawal Option 1", the beneficiary cannot later withdraw funds in addition to the scheduled payments the beneficiary is receiving; "Withdrawal Option 1" permits total surrender only. "Withdrawal Option 2" permits the beneficiary to take withdrawals, in addition to scheduled payments, at any time. However, the scheduled payments under "Withdrawal Option 1" are afforded favorable tax treatment as "annuity payments." See "Taxation of nonqualified annuities" in "Tax Information" later in this prospectus. o Any partial withdrawals must be at least $300. o Your beneficiary will have the right to name a beneficiary to receive any remaining interest in the contract on the beneficiary's death. 50 Payment of death benefit o Upon the death of your beneficiary, the beneficiary he or she has named has the option to either continue taking scheduled payments based on the remaining life expectancy of the deceased beneficiary (if scheduled payments were chosen) or to receive any remaining interest in the contract in a lump sum. We will pay any remaining interest in the contract in a lump sum if your beneficiary elects the 5-year rule. The option elected will be processed when we receive satisfactory proof of death, any required instructions for the method of payment and any required information and forms necessary to effect payment. If the deceased is the owner or the older joint owner: o As of the date we receive satisfactory proof of death, any required instructions, information and forms necessary to effect the Beneficiary continuation option feature, we will increase the account value to equal the applicable death benefit if such death benefit is greater than such account value adjusted for any subsequent withdrawals. If the deceased is the younger non-spousal joint owner: o The annuity account value will not be reset to the death benefit amount. Payment of death benefit 51 7. Tax information - -------------------------------------------------------------------------------- OVERVIEW In this part of the prospectus, we discuss the current federal income tax rules that generally apply to EQUI-VEST(SM) At Retirement(SM) contracts owned by United States individual taxpayers. The tax rules can differ, depending on the type of contract, whether NQ, traditional IRA, Roth IRA or TSA. Therefore, we discuss the tax aspects of each type of contract separately. Federal income tax rules include the United States laws in the Internal Revenue Code, and Treasury Department Regulations and Internal Revenue Service ("IRS") interpretations of the Internal Revenue Code. These tax rules may change without notice. We cannot predict whether, when, or how these rules could change. Any change could affect contracts purchased before the change. Congress may also consider proposals in the future to comprehensively reform or overhaul the United States tax and retirement systems, which if enacted, could affect the tax benefits of a contract. We cannot predict what, if any, legislation will actually be proposed or enacted. We cannot provide detailed information on all tax aspects of the contracts. Moreover, the tax aspects that apply to a particular person's contract may vary depending on the facts applicable to that person. We do not discuss state income and other state taxes, federal income tax, and withholding rules for non-U.S. taxpayers, or federal gift and estate taxes. Transfers of the contract, rights or values under the contract, or payments under the contract, for example, the amounts due to beneficiaries, may be subject to federal or state gift, estate, or inheritance taxes. You should not rely only on this document, but should consult your tax adviser before your purchase. BUYING A CONTRACT TO FUND A RETIREMENT ARRANGEMENT Generally, there are two types of funding vehicles that are available for Individual Retirement Arrangements ("IRAs"): an individual retirement annuity contract such as the ones offered in this prospectus, or a custodial or trusteed individual retirement account. Similarly, a 403(b) plan can be funded through a 403(b) annuity contract or a 403(b)(7) custodial account. How these arrangements work, including special rules applicable to each, are described in the specific sections for each type of arrangement, below. You should be aware that the funding vehicle for a tax-qualified arrangement does not provide any tax deferral benefit beyond that already provided by the Code for all permissible funding vehicles. Before choosing an annuity contract, therefore, you should consider the annuity's features and benefits, such as EQUI-VEST(SM) At Retirement(SM)'s choice of death benefits, the Guaranteed withdrawal for life benefit, the Guaranteed minimum income benefit, selection of variable investment options, guaranteed interest option, fixed maturity options and its choices of pay-out options, as well as the features and benefits of other permissible funding vehicles and the relative costs of annuities and other arrangements. You should be aware that cost may vary depending on the features and benefits made available and the charges and expenses of the portfolios that you elect. Certain provisions of the Treasury Regulations on required minimum distributions concerning the actuarial present value of additional contract benefits could increase the amount required to be distributed from annuity contracts funding 403(b) plans and IRAs. For this purpose additional annuity contract benefits may include, but are not limited to, guaranteed minimum income benefits and enhanced death benefits. You should consider the potential implication of these Regulations before you purchase this annuity contract or purchase additional features under this annuity contract. TRANSFERS AMONG INVESTMENT OPTIONS You can make transfers among investment options inside the contract without triggering taxable income. TAXATION OF NONQUALIFIED ANNUITIES CONTRIBUTIONS You may not deduct the amount of your contributions to a nonqualified annuity contract. CONTRACT EARNINGS Generally, you are not taxed on contract earnings until you receive a distribution from your contract, whether as a withdrawal or as an annuity payment. However, earnings are taxable, even without a distribution: o if a contract fails investment diversification requirements as specified in federal income tax rules (these rules are based on or are similar to those specified for mutual funds under the securities laws); o if you transfer a contract, for example, as a gift to someone other than your spouse (or former spouse); o if you use a contract as security for a loan (in this case, the amount pledged will be treated as a distribution); and o if the owner is other than an individual (such as a corporation, partnership, trust, or other non-natural person). This provision does not apply to a trust which is a mere agent or nominee for an individual, such as a grantor trust. All nonqualified deferred annuity contracts that AXA Equitable and its affiliates issue to you during the same calendar year are linked together and treated as one contract for calculating the taxable amount of any distribution from any of those contracts. TAXATION OF LIFETIME WITHDRAWALS IF YOU ELECT GUARANTEED WITHDRAWAL BENEFIT FOR LIFE We treat Guaranteed annual withdrawals and other withdrawals as non-annuity payments for income tax purposes. These withdrawals are 52 Tax information taxable to you as ordinary income if there are earnings in the contract. Generally, earnings are your account value less your investment in the contract. Generally, your investment in the contract equals the contributions you made, less any amounts you previously withdrew that were not taxable. If you withdraw an amount which is more than the earnings in the contract as of the date of the withdrawal, the balance of the distribution is treated as a return of your investment in the contract and is not taxable. It reduces the investment in the contract. ANNUITY PAYMENTS Guaranteed annual withdrawals that are continued after your account value goes to zero under a supplementary life annuity contract, as discussed under "Guaranteed withdrawal benefit for life ("GWBL")" in "Contract features and benefits" earlier in this prospectus, as well as GMIB and other annuitization payments that are based on life or life expectancy, are considered annuity payments for tax purposes. Once annuity payments begin, a portion of each payment is taxable as ordinary income. You get back the remaining portion without paying taxes on it. This is your unrecovered investment in the contract. Generally, your investment in the contract equals the contributions you made, less any amounts you previously withdrew that were not taxable. For fixed annuity payments, the tax-free portion of each payment is determined by (1) dividing your investment in the contract by the total amount you are expected to receive out of the contract, and (2) multiplying the result by the amount of the payment. For variable annuity payments, your tax-free portion of each payment is your investment in the contract divided by the number of expected payments. In order to get annuity payment tax treatment described here, all amounts under the contract must be applied to an annuity payout option; we do not "partially annuitize" nonqualified deferred annuity contracts. Once you have received the amount of your investment in the contract, all payments after that are fully taxable. If payments under a life annuity stop because the annuitant dies, there is an income tax deduction for any unrecovered investment in the contract. PAYMENTS MADE BEFORE ANNUITY PAYMENTS BEGIN If you make withdrawals before annuity payments begin under your contract, they are taxable to you as ordinary income if there are earnings in the contract. Generally, earnings are your account value less your investment in the contract. If you withdraw an amount which is more than the earnings in the contract as of the date of the withdrawal, the balance of the distribution is treated as a return of your investment in the contract and is not taxable. CONTRACTS PURCHASED THROUGH EXCHANGES The sole way to purchase an EQUI-VEST(SM) At Retirement(SM) NQ contract is through a transfer of funds from the original EQUI-VEST(SM) contract which is the source contract. Normally, exchanges of contracts are taxable events. The transfer will be a tax deferred exchange under Section 1035 of the Internal Revenue Code if: o The contract that is the source of the funds you are using to purchase the NQ contract is another nonqualified deferred annuity contract. o The owner and the annuitant are the same under the original EQUI-VEST(R) contract and the EQUI-VEST(SM) At Retirement(SM) NQ contract. The tax basis, also referred to as your investment in the contract, of the original EQUI-VEST(SM) contract carries over to the EQUI-VEST(SM) At Retirement(SM) NQ contract. Section 1035 exchanges are generally not available after the death of the owner or annuity, as applicable. Partial 1035 exchanges are not available to purchase an EQUI-VEST(SM) At Retirement(SM) contract. SURRENDERS If you surrender or cancel the contract, the distribution is taxable as ordinary income (not capital gain) to the extent it exceeds your investment in the contract. DEATH BENEFIT PAYMENTS MADE TO A BENEFICIARY AFTER YOUR DEATH For the rules applicable to death benefits, see "Payment of death benefit" earlier in this prospectus. The tax treatment of a death benefit taken as a single sum is generally the same as the tax treatment of a withdrawal from or surrender of your contract. The tax treatment of a death benefit taken as annuity payments is generally the same as the tax treatment of annuity payments under your contract. BENEFICIARY CONTINUATION OPTION We have received a private letter ruling from the IRS regarding certain tax consequences of scheduled payments under the beneficiary continuation option for a prior similar version of the NQ contract. See the discussion "Beneficiary continuation option for NQ Contracts only" in "Payment of death benefit" earlier in this prospectus. Among other things, the IRS rules that: o scheduled payments under the beneficiary continuation option for NQ contracts satisfy the death of owner rules of Section 72(s)(2) of the Code, regardless of whether the beneficiary elects "Withdrawal Option 1" or "Withdrawal Option 2"; o scheduled payments, any additional withdrawals under "Withdrawal Option 2", or contract surrenders under "Withdrawal Option 1" will only be taxable to the beneficiary when amounts are actually paid, regardless of the Withdrawal Option selected by the beneficiary; o a beneficiary who irrevocably elects scheduled payments with "Withdrawal Option 1" will receive "excludable amount" tax treatment on scheduled payments. See "Annuity payments" earlier in this section. If the beneficiary elects to surrender the contract before all scheduled payments are paid, the amount received upon surrender is a non-annuity payment taxable to the extent it exceeds any remaining investment in the contract. The ruling specifically does not address the taxation of any payments received by a beneficiary electing "Withdrawal Option 2" (whether scheduled payments or any withdrawal that might be taken). The tax treatment of a withdrawal after the death of the owner taken as a single sum or taken as withdrawals under the 5-year rule is generally the same as the tax treatment of a withdrawal from or surrender of your contract. Tax information 53 EARLY DISTRIBUTION PENALTY TAX If you take distributions before you are age 59-1/2 a penalty tax of 10% of the taxable portion of your distribution applies in addition to the income tax. Some of the available exceptions to the pre-age 59-1/2 penalty tax include distributions made: o on or after your death; or o because you are disabled (special federal income tax definition); or o in the form of substantially equal periodic annuity payments for your life (or life expectancy), or the joint lives (or joint life expectancy) of you and a beneficiary, in accordance with IRS formulas. We do not anticipate that Guaranteed annual withdrawals made under the Guaranteed withdrawal benefit for life's Maximum or Customized payment plan or taken as partial withdrawals will qualify for this exception if made before age 59-1/2. INVESTOR CONTROL ISSUES Under certain circumstances, the IRS has stated that you could be treated as the owner (for tax purposes) of the assets of Separate Account A. If you were treated as the owner, you would be taxed on income and gains attributable to the shares of the underlying portfolios. The circumstances that would lead to this tax treatment would be that, in the opinion of the IRS, you could control the underlying investment of Separate Account A. The IRS has said that the owners of variable annuities will not be treated as owning the separate account assets provided the underlying portfolios are restricted to variable life and annuity assets. The variable annuity owners must have the right only to choose among the portfolios, and must have no right to direct the particular investment decisions within the portfolios. Although we believe that, under current IRS guidance, you would not be treated as the owner of the assets of Separate Account A, there are some issues that remain unclear. For example, the IRS has not issued any guidance as to whether having a larger number of portfolios available, or an unlimited right to transfer among them, could cause you to be treated as the owner. We do not know whether the IRS will ever provide such guidance or whether such guidance, if unfavorable, would apply retroactively to your contract. Furthermore, the IRS could reverse its current guidance at any time. We reserve the right to modify your contract as necessary to prevent you from being treated as the owner of the assets of Separate Account A. INDIVIDUAL RETIREMENT ARRANGEMENTS (IRAS) GENERAL "IRA" stands for individual retirement arrangement. There are two basic types of such arrangements, individual retirement accounts and individual retirement annuities. In an individual retirement account, a trustee or custodian holds the assets for the benefit of the IRA owner. The assets funding the account typically include mutual funds and/or individual stocks and/or securities in a custodial account and bank certificates of deposit in a trusteed account. In an individual retirement annuity, an insurance company issues an annuity contract that serves as the IRA. There are two basic types of IRAs, as follows: o Traditional IRAs, typically funded on a pre-tax basis, including SEP-IRAs and SIMPLE IRAs issued and funded in connection with employer-sponsored retirement plans; and o Roth IRAs, funded on an after-tax basis. Regardless of the type of IRA, your ownership interest in the IRA cannot be forfeited. You or your beneficiaries who survive you are the only ones who can receive the IRA's benefits or payments. All types of IRAs qualify for tax deferral regardless of the funding vehicle selected. You can hold your IRA assets in as many different accounts and annuities as you would like, as long as you meet the rules for setting up and making contributions to IRAs. However, if you own multiple IRAs, you may be required to combine IRA values or contributions for tax purposes. For further information about individual retirement arrangements, you can read Internal Revenue Service Publication 590 ("Individual Retirement Arrangements (IRAs)"). This publication is usually updated annually, and can be obtained from any IRS district office or the IRS website (www.irs.gov). AXA Equitable designs its IRA contracts to qualify as individual retirement annuities under Section 408(b) of the Internal Revenue Code. You may purchase the contract as a traditional IRA or Roth IRA. This prospectus contains the information that the IRS requires you to have before you purchase an IRA. The first section covers some of the special tax rules that apply to traditional IRAs. The next section covers Roth IRAs. We describe the amount and types of charges that may apply to your contributions under "Charges and expenses" earlier in this prospectus. We describe the method of calculating payments under "Accessing your money" earlier in this prospectus. We do not guarantee or project growth in any variable income annuitization option payments (as opposed to payments from a fixed income annuitization option). We have not applied for an opinion letter from the IRS to approve the respective forms of the EQUI-VEST(SM) At Retirement(SM) traditional and Roth IRA contracts for use as a traditional and Roth IRA, respectively. Such IRS approval is a determination only as to the form of the annuity and does not represent a determination of the merits of the annuity as an investment. YOUR RIGHT TO CANCEL WITHIN A CERTAIN NUMBER OF DAYS You can cancel any version of the EQUI-VEST(SM) At Retirement(SM) IRA contract (traditional IRA or Roth IRA) by following the directions in "Your right to cancel within a certain number of days" under "Contract features and benefits" earlier in this prospectus. If you cancel a traditional IRA contract, we may have to withhold tax, and we must report the transaction to the IRS. A contract cancellation could have an unfavorable tax impact. TRADITIONAL INDIVIDUAL RETIREMENT ANNUITIES (TRADITIONAL IRAS) CONTRIBUTIONS TO TRADITIONAL IRAS. Generally, individuals may make three different types of contributions to purchase a traditional IRA or as subsequent contributions to an existing IRA: o "regular" contributions out of earned income or compensation; or o tax-free "rollover" contributions; or 54 Tax information o direct custodian-to-custodian transfers from other traditional IRAs ("direct transfers"). This IRA may be funded through direct transfer of funds only and not through regular or rollover contributions. WITHDRAWALS, PAYMENTS AND TRANSFERS OF FUNDS OUT OF TRADITIONAL IRAS NO FEDERAL INCOME TAX LAW RESTRICTIONS ON WITHDRAWALS. You can withdraw any or all of your funds from a traditional IRA at any time. You do not need to wait for a special event like retirement. TAXATION OF PAYMENTS. Earnings in traditional IRAs are not subject to federal income tax until you or your beneficiary receive them. Taxable payments or distributions include withdrawals from your contract, surrender of your contract and annuity payments from your contract. Death benefits are also taxable. Except as discussed below, the total amount of any distribution from a traditional IRA must be included in your gross income as ordinary income. We report all payments from traditional IRA contracts on IRS Form 1099-R as fully taxable. If you have ever made nondeductible IRA contributions to any traditional IRA (it does not have to be to this particular traditional IRA contract), those contributions are recovered tax free when you get distributions from any traditional IRA. It is your responsibility to keep permanent tax records of all of your nondeductible contributions to traditional IRAs so that you can correctly report the taxable amount of any distribution on your own tax return. At the end of any year in which you have received a distribution from any traditional IRA, you calculate the ratio of your total nondeductible traditional IRA contributions (less any amounts previously withdrawn tax free) to the total account balances of all traditional IRAs you own at the end of the year plus all traditional IRA distributions made during the year. Multiply this by all distributions from the traditional IRA during the year to determine the nontaxable portion of each distribution. A distribution from a traditional IRA is not taxable if: o the amount received is a withdrawal of excess contributions, under technical income tax rules; or o the entire amount received is rolled over to another traditional IRA or other eligible retirement plan which agrees to accept the funds. ROLLOVERS FROM TRADITIONAL IRAS TO TRADITIONAL IRAS You may roll over amounts from one traditional IRA to one or more of your other traditional IRAs if you complete the transaction within 60 days after you receive the funds. You may make such a rollover only once in every 12-month period for the same funds. Trustee-to-trustee or custodian-to-custodian direct transfers are not rollover transactions. You can make these more frequently than once in every 12-month period. SPOUSAL ROLLOVER AND DIVORCE-RELATED DIRECT TRANSFERS The surviving spouse beneficiary of a deceased individual can roll over funds from, or directly transfer funds from, an inherited traditional IRA to one or more other traditional IRAs. Also, in some cases, traditional IRAs can be transferred on a tax-free basis between spouses or former spouses as a result of a court ordered divorce or separation decree. ROLLOVERS TO ELIGIBLE RETIREMENT PLANS The following are eligible to receive rollovers of distributions from a traditional IRA: a qualified plan, a 403(b) plan or a governmental employer 457(b) plan. After-tax contributions in a traditional IRA cannot be rolled from your traditional IRA into, or back into, a qualified plan, TSA or governmental employer 457(b) plan. Before you decide to roll over a distribution from a traditional IRA to another eligible retirement plan, you should check with the administrator of that plan about whether the plan accepts rollovers and, if so, the types it accepts. You should also check with the administrator of the receiving plan about any documents required to be completed before it will accept a rollover. Distributions from a traditional IRA are not eligible for favorable ten-year averaging and long-term capital gain treatment available under limited circumstances for certain distributions from qualified plans. If you might be eligible for such tax treatment from your qualified plan, you may be able to preserve such tax treatment even though an eligible rollover from a qualified plan is temporarily rolled into a "conduit IRA" before being rolled back into a qualified plan. See your tax adviser. REQUIRED MINIMUM DISTRIBUTIONS BACKGROUND ON REGULATIONS -- REQUIRED MINIMUM DISTRIBUTIONS Distributions must be made from traditional IRAs according to rules contained in the Code and Treasury Regulations. Certain provisions of the Treasury Regulations require that the actuarial present value of additional annuity contract benefits must be added to the dollar amount credited for purposes of calculating certain types of required minimum distributions from individual retirement annuity contracts. For this purpose additional annuity contract benefits may include, but are not limited to, guaranteed minimum income benefits and enhanced death benefits. This could increase the amount required to be distributed from these contracts if you take annual withdrawals instead of annuitizing. Please consult your tax adviser concerning applicability of these complex rules to your situation. LIFETIME REQUIRED MINIMUM DISTRIBUTIONS. You must start taking annual distributions from your traditional IRAs for the year in which you turn age 70-1/2. WHEN YOU HAVE TO TAKE THE FIRST LIFETIME REQUIRED MINIMUM DISTRIBUTION. The first required minimum distribution is for the calendar year in which you turn age 70-1/2. You have the choice to take this first required minimum distribution during the calendar year you actually reach age 70-1/2, or to delay taking it until the first three-month period in the next calendar year (January 1 - April 1). Distributions must start no later than your "Required Beginning Date," which is April 1st of the calendar year after the calendar year in which you turn age 70-1/2. If you choose to delay taking the first annual minimum distribution, then you will have to take two minimum distributions in that year--the delayed one for the first year and the one actually for that year. Once minimum distributions begin, they must be made at some time each year. Tax information 55 HOW YOU CAN CALCULATE REQUIRED MINIMUM DISTRIBUTIONS. There are two approaches to taking required minimum distributions -- "account-based" or "annuity-based." ACCOUNT-BASED METHOD. If you choose an account-based method, you divide the value of your traditional IRA as of December 31st of the past calendar year by a number corresponding to your age from an IRS table. This gives you the required minimum distribution amount for that particular IRA for that year. If your spouse is your sole beneficiary and more than 10 years younger than you, the dividing number you use may be from another IRS table and may produce a smaller lifetime required minimum distribution amount. Regardless of the table used, the required minimum distribution amount will vary each year as the account value, the actuarial present value of additional annuity contract benefits, if applicable, and the divisor change. If you initially choose an account-based method, you may later apply your traditional IRA funds to a life annuity-based payout with any certain period not exceeding remaining life expectancy, determined in accordance with IRS tables. ANNUITY-BASED METHOD. If you choose an annuity-based method, you do not have to do annual calculations. You apply the account value to an annuity payout for your life or the joint lives of you and a designated beneficiary or for a period certain not extending beyond applicable life expectancies, determined in accordance with IRS tables. DO YOU HAVE TO PICK THE SAME METHOD TO CALCULATE YOUR REQUIRED MINIMUM DISTRIBUTIONS FOR ALL OF YOUR TRADITIONAL IRAS AND OTHER RETIREMENT PLANS? No. If you want, you can choose a different method for each of your traditional IRAs and other retirement plans. For example, you can choose an annuity payout from one IRA, a different annuity payout from a qualified plan and an account-based annual withdrawal from another IRA. WILL WE PAY YOU THE ANNUAL AMOUNT EVERY YEAR FROM YOUR TRADITIONAL IRA BASED ON THE METHOD YOU CHOOSE? We will only pay you automatically if you affirmatively select an annuity payout option or an account-based withdrawal option such as our "required minimum distribution (RMD) automatic withdrawal options." Even if you do not enroll in our service, we will calculate the amount of the required minimum distribution withdrawal for you, if you so request in writing. However, in that case you will be responsible for asking us to pay the required minimum distribution withdrawal to you. Also, the IRS will let you calculate the required minimum distribution for each traditional IRA that you maintain, using the method that you picked for that particular IRA. You can add these required minimum distribution amount calculations together. As long as the total amount you take out every year satisfies your overall traditional IRA required minimum distribution amount, you may choose to take your annual required minimum distribution from any one or more traditional IRAs that you own. WHAT IF YOU TAKE MORE THAN YOU NEED TO FOR ANY YEAR? The required minimum distribution amount for your traditional IRAs is calculated on a year-by-year basis. There are no carry-back or carry-forward provisions. Also, you cannot apply required minimum distribution amounts you take from your qualified plans to the amounts you have to take from your traditional IRAs and vice versa. WHAT IF YOU TAKE LESS THAN YOU NEED TO FOR ANY YEAR? Your IRA could be disqualified, and you could have to pay tax on the entire value. Even if your IRA is not disqualified, you could have to pay a 50% penalty tax on the shortfall (required amount for traditional IRAs less amount actually taken). It is your responsibility to meet the required minimum distribution rules. We will remind you when our records show that you are within the age group which must take lifetime required minimum distributions. If you do not select a method with us, we will assume you are taking your required minimum distribution from another traditional IRA that you own. WHAT ARE THE REQUIRED MINIMUM DISTRIBUTION PAYMENTS AFTER YOU DIE? These could vary depending on whether you die before or after your Required Beginning Date for lifetime required minimum distribution payments, and the status of your beneficiary. The following assumes that you have not yet elected an annuity-based payout at the time of your death. If you elect an annuity-based payout, payments (if any) after your death must be made at least as rapidly as when you were alive. INDIVIDUAL BENEFICIARY. Regardless of whether your death occurs before or after your Required Beginning Date, an individual death beneficiary calculates annual post-death required minimum distribution payments based on the beneficiary's life expectancy using the "term certain method." That is, he or she determines his or her life expectancy using the IRS-provided life expectancy tables as of the calendar year after the owner's death and reduces that number by one each subsequent year. If you die before your Required Beginning Date, the rules permit any individual beneficiary, including a spousal beneficiary, to elect instead to apply the "5-year rule." Under this rule, instead of annual payments having to be made beginning with the first in the year following the owner's death, the entire account must be distributed by the end of the calendar year which contains the fifth anniversary of the owner's death. No distribution is required before that fifth year. SPOUSAL BENEFICIARY. If you die after your Required Beginning Date, and your death beneficiary is your surviving spouse, your spouse has a number of choices. Post-death distributions may be made over your spouse's single life expectancy. Any amounts distributed after that surviving spouse's death are made over the spouse's life expectancy calculated in the year of his/her death, reduced by one for each subsequent year. In some circumstances, your surviving spouse may elect to become the owner of the traditional IRA and halt distributions until he or she reaches age 70-1/2, or roll over amounts from your traditional IRA into his/her own traditional IRA or other eligible retirement plan. If you die before your Required Beginning Date, and the death beneficiary is your surviving spouse, the rules permit the spouse to delay starting payments over his/her life expectancy until the year in which you would have attained age 70-1/2. NON-INDIVIDUAL BENEFICIARY. If you die after your Required Beginning Date, and your death beneficiary is a non-individual, such as the estate, the rules permit the beneficiary to calculate post-death required minimum distribution amounts based on the owner's life expectancy in the year of death. However, note that we need an individual annuitant to keep an annuity contract in force. If 56 Tax information the beneficiary is not an individual, we must distribute amounts remaining in the annuity contract after the death of the annuitant. If you die before your Required Beginning Date for lifetime required minimum distribution payments, and the death beneficiary is a non-individual, such as the estate, the rules continue to apply the 5-year rule discussed earlier under "Individual beneficiary." Please note that we need an individual annuitant to keep an annuity contract in force. If the beneficiary is not an individual, we must distribute amounts remaining in the annuity contract after the death of the annuitant. SUCCESSOR OWNER AND ANNUITANT If your spouse is the sole primary beneficiary and elects to become the successor owner and annuitant, no death benefit is payable until your surviving spouse's death. The required minimum distribution rules are applied as if your surviving spouse is the contract owner. SPOUSAL CONTINUATION If the contract is continued under spousal continuation then the required minimum distribution rules are applied as if your surviving spouse is the contract owner.. PAYMENTS TO A BENEFICIARY AFTER YOUR DEATH IRA death benefits are taxed the same as IRA distributions. BORROWING AND LOANS ARE PROHIBITED TRANSACTIONS You cannot get loans from a traditional IRA. You cannot use a traditional IRA as collateral for a loan or other obligation. If you borrow against your IRA or use it as collateral, its tax-favored status will be lost as of the first day of the tax year in which this prohibited event occurs. If this happens, you must include the value of the traditional IRA in your federal gross income. Also, the early distribution penalty tax of 10% may apply if you have not reached age 59-1/2 before the first day of that tax year. EARLY DISTRIBUTION PENALTY TAX A penalty tax of 10% of the taxable portion of a distribution applies to distributions from a traditional IRA made before you reach age 59-1/2. Some of the available exceptions to the pre-age 59-1/2 penalty tax include distributions made: o on or after your death; or o because you are disabled (special federal income tax definition); or o used to pay certain extraordinary medical expenses (special federal income tax definition); or o used to pay medical insurance premiums for unemployed individuals (special federal income tax definition); or o used to pay certain first-time home buyer expenses (special federal income tax definition; $10,000 lifetime total limit for these distributions from all your traditional and Roth IRAs); or o used to pay certain higher education expenses (special federal income tax definition); or o in the form of substantially equal periodic payments made at least annually over your life (or your life expectancy) or over the joint lives of you and your beneficiary (or your joint life expectancies using an IRS-approved distribution method). We do not anticipate that Guaranteed annual payments made under the Guaranteed withdrawal benefit for life's Maximum or Customized payment plan or taken as lump sums will qualify for this exception if made before age 59-1/2. ROTH INDIVIDUAL RETIREMENT ANNUITIES (ROTH IRAS) This section of the prospectus covers some of the special tax rules that apply to Roth IRAs. If the rules are the same as those that apply to the traditional IRA, we will refer you to the same topic under "traditional IRAs." The EQUI-VEST(SM) At Retirement(SM) Roth IRA contract is designed to qualify as a Roth individual retirement annuity under Sections 408A(b) and 408(b) of the Internal Revenue Code. CONTRIBUTIONS TO ROTH IRAS Generally, individuals may make four different types of contributions to purchase a Roth IRA or as later additions to an existing Roth IRA: o regular after-tax contributions out of earnings; or o taxable rollover contributions from traditional IRAs or other eligible retirement plans ("conversion rollover" contributions); or o tax-free rollover contributions from other Roth individual retirement arrangements; or o tax-free direct custodian-to-custodian transfers from other Roth IRAs ("direct transfers"). This Roth IRA may be funded only through direct transfer of funds and not through regular Roth IRA contributions or rollover contributions. Also, if the funds are originally in a traditional IRA, you must convert to Roth IRA in your original EQUI-VEST(SM) contract before you apply the funds to an EQUI-VEST(SM)Retirement contract. RECHARACTERIZATIONS Generally, you may be able to treat a contribution made to one type of IRA as having been made to a different type of IRA. This is called recharacterizing the contribution. Any recharacterization of a Roth IRA contribution to a traditional IRA contribution, if available, must be done in the original EQUI-VEST(SM) Roth IRA contract and not in the EQUI-VEST(R) At Retirement(SM) contract. WITHDRAWALS, PAYMENTS AND TRANSFERS OF FUNDS OUT OF ROTH IRAS NO FEDERAL INCOME TAX LAW RESTRICTIONS ON WITHDRAWALS. You can withdraw any or all of your funds from a Roth IRA at any time; you do not need to wait for a special event like retirement. DISTRIBUTIONS FROM ROTH IRAS Distributions include withdrawals from your contract, surrender of your contract and annuity payments from your contract. Death benefits are also distributions. Tax information 57 You must keep your own records of regular and conversion contributions to all Roth IRAs to assure appropriate taxation. You may have to file information on your contributions to and distributions from any Roth IRA on your tax return. You may have to retain all income tax returns and records pertaining to such contributions and distributions until your interests in all Roth IRAs are distributed. Like traditional IRAs, taxable distributions from a Roth IRA are not entitled to special favorable ten-year averaging and long-term capital gain treatment available in limited cases to certain distributions from qualified plans. The following distributions from Roth IRAs are free of income tax: o rollovers from a Roth IRA to another Roth IRA; o direct transfers from a Roth IRA to another Roth IRA; o qualified distributions from a Roth IRA; and o return of excess contributions or amounts recharacterized to a traditional IRA. You may roll over amounts from one Roth IRA to another Roth IRA if you complete the transaction within 60 days of when you receive the funds. This can be accomplished on a completely tax-free basis. However, you may make Roth IRA to Roth IRA rollover transactions only once in any 12-month period for the same funds. Trustee-to-trustee or custodian-to-custodian direct transfers can be made more frequently than once a year. The surviving spouse beneficiary of a deceased individual can roll over or directly transfer an inherited Roth IRA to one or more other Roth IRAs. In some cases, Roth IRAs can be transferred on a tax-free basis between spouses or former spouses as a result of a court-ordered divorce or separation decree. QUALIFIED DISTRIBUTIONS FROM ROTH IRAS. Qualified distributions from Roth IRAs made because of one of the following four qualifying events or reasons are not includable in income: o you are age 59-1/2 or older; or o you die; or o you become disabled (special federal income tax definition); or o your distribution is a "qualified first-time homebuyer distribution" (special federal income tax definition; $10,000 lifetime total limit for these distributions from all of your traditional and Roth IRAs). You also have to meet a five-year aging period. A qualified distribution is any distribution made after the five-taxable-year period beginning with the first taxable year for which you made any contribution to any Roth IRA (whether or not the one from which the distribution is being made). NONQUALIFIED DISTRIBUTIONS FROM ROTH IRAS. Nonqualified distributions from Roth IRAs are distributions that do not meet both the qualifying event and five-year aging period tests described above. If you receive such a distribution, part of it may be taxable. For purposes of determining the correct tax treatment of distributions (other than the withdrawal of excess contributions and the earnings on them), there is a set order in which contributions (including conversion contributions) and earnings are considered to be distributed from your Roth IRA. The order of distributions is as follows: (1) Regular contributions. (2) Conversion contributions, on a first-in-first-out basis (generally, total conversions from the earliest year first). These conversion contributions are taken into account as follows: (a) Taxable portion (the amount required to be included in gross income because of conversion) first, and then the (b) Nontaxable portion. (3) Earnings on contributions. Rollover contributions from other Roth IRAs are disregarded for this purpose. To determine the taxable amount distributed, distributions and contributions are aggregated or grouped together as follows: (1) All distributions made during the year from all Roth IRAs you maintain -- with any custodian or issuer -- are added together. (2) All regular contributions made during and for the year (contributions made after the close of the year, but before the due date of your return) are added together. This total is added to the total undistributed regular contributions made in prior years. (3) All conversion contributions made during the year are added together. For purposes of the ordering rules, in the case of any conversion in which the conversion distribution is made in 2008 and the conversion contribution is made in 2009, the conversion contribution is treated as contributed prior to other conversion contributions made in 2009. Any recharacterized contributions that end up in a Roth IRA are added to the appropriate contribution group for the year that the original contribution would have been taken into account if it had been made directly to the Roth IRA. Any recharacterized contribution that ends up in an IRA other than a Roth IRA is disregarded for the purpose of grouping both contributions and distributions. Any amount withdrawn to correct an excess contribution (including the earnings withdrawn) is also disregarded for this purpose. REQUIRED MINIMUM DISTRIBUTIONS DURING LIFE Lifetime required minimum distributions do not apply. REQUIRED MINIMUM DISTRIBUTIONS AT DEATH Same as traditional IRA under "What are the required minimum distribution payments after you die?", assuming death before the Required Beginning Date. PAYMENTS TO A BENEFICIARY AFTER YOUR DEATH Distributions to a beneficiary generally receive the same tax treatment as if the distribution had been made to you. BORROWING AND LOANS ARE PROHIBITED TRANSACTIONS Same as traditional IRA. 58 Tax information EARLY DISTRIBUTION PENALTY TAX Same as traditional IRA. TAX-SHELTERED ANNUITY CONTRACTS (TSAS) GENERAL This section of this prospectus reflects our current understanding of some of the special federal income tax rules applicable to annuity contracts used to fund employer plans under Section 403(b) of the Internal Revenue Code. We refer to these contracts as "403(b) annuity contracts" or "Tax Sheltered Anuity contracts (TSAs)". If the rules are the same as those that apply to another kind of contract, for example, traditional IRA contracts, we will refer you to the same topic under "traditional IRAs." - -------------------------------------------------------------------------------- The disclosure generally assumes that the TSA has 403(b) contract status or qualifies as a 403(b) contract. Due to Internal Revenue Service and Treasury regulatory changes in 2007 which become fully effective on January 1, 2009, contracts issued prior to September 25, 2007 which qualified as 403(b) contracts under the rules at the time of issue may lose their status as 403(b) contracts or have the availability of transactions under the contract restricted as of January 1, 2009 unless the individual's employer or the individual takes certain actions. Please consult your tax adviser regarding the effect of these rules (which may vary depending on the owner's employment status plan participation status and when and how the contract was acquired) on your personal situation. - -------------------------------------------------------------------------------- FINAL REGULATIONS UNDER SECTION 403(B) The IRS and the Treasury Department published final Treasury Regulations under Section 403(b) of the Code (2007 Regulations). As a result, there are significant revisions to the establishment and operation of plans and arrangements under Section 403(b) of the Code, and the contracts issued to fund such plans. These rules become fully effective on January 1, 2009, but various transition rules apply beginning in 2007. There are a number of uncertainties regarding the application of these rules. The 2007 Regulations raise a number of questions as to the effect of the 2007 Regulations on 403(b) TSA contracts issued prior to the effective date of the 2007 Regulations. The IRS has issued guidance intended to clarify some of these questions, and may issue further guidance in future years. PERMISSIBLE INVESTMENTS. The 2007 Regulations retain the rule that there are generally two types of investments available to fund 403(b) plans -- an annuity contract under Section 403(b)(1) of the Internal Revenue Code or a custodial account that invests only in mutual funds and which is treated as an annuity contract under Section 403(b)(7) of the Code. Both types of 403(b) funding vehicles qualify for tax deferral. EMPLOYER PLAN REQUIREMENT. The thrust of the 2007 Regulations is to require a written plan document for section 403(b) plans. As of January 1, 2009, employers sponsoring 403(b) plans must have a written plan designating administrative responsibilities for various functions under the plan, and the plan in operation must conform to the plan terms. As part of this process, the sponsoring employer must also designate the insurance companies or mutual fund companies to which it will make contributions to purchase 403(b) annuity contracts or 403(b)(7) custodial accounts under its 403(b) plan. These companies are typically referred to as "approved providers" or "approved vendors" under the employer's 403(b) plan, although such terms are not used in the 2007 Regulations. If AXA Equitable is not an approved provider under an employer's 403(b) plan, active participants in that employer's plan may have to transfer funds from their EQUI-VEST(SM) TSA contracts to another 403(b) plan funding vehicle in a contract exchange under the same plan in order to retain 403(b) status for those funds. Although it is not clear under the 2007 Regulations, it appears that (i) annuity contracts issued to employees terminating employment or retiring from service with the employer which provided the funds may not be considered as 403(b) annuity contracts if no longer part of the employer's plan, or (ii) even if such contracts retain 403(b) status (so that amounts can be rolled over into another eligible retirement plan which agrees to accept the funds), transactions may be limited. For this reason you should discuss with your tax adviser whether you should purchase an EQUI-VEST(SM) At Retirement(SM) TSA contract or retain a previously-purchased contract, or instead roll it over into another eligible retirement plan which will accept the funds, such as a traditional IRA. LIMITATIONS ON INDIVIDUAL INITIATED DIRECT TRANSFERS. The 2007 Regulations revoke Revenue Ruling 90-24 (Rev. Rul. 90-24), effective January 1, 2009. Prior to the 2007 Regulations, Rev. Rul. 90-24 had permitted individual-initiated, tax-free direct transfers of funds from one 403(b) contract to another, without reportable taxable income to the individual. Under transitional rules in the 2007 Regulations and other IRS published guidance, direct transfers made after September 24, 2007 may still be permitted with plan or employer approval as described below. Effect of the 2007 Regulations on contributions to the EQUI-VEST(SM) At Retirement(SM) TSA contract Because the EQUI-VEST(SM) At Retirement(SM) TSA contract (i) was designed to be purchased through an individual-initiated, Rev. Rul. 90-24 tax-free direct transfer of funds from one 403(b) arrangement to another and (ii) does not accept employer-remitted contributions, contributions after September 24, 2007 to an EQUI-VEST(SM) At Retirement(SM) TSA contract are extremely limited as described below. EQUI-VEST(SM) At Retirement(SM) TSA contracts issued pursuant to a Rev. Rul. 90-24 direct transfer where applications and all transfer paperwork were received by our processing office in good order prior to September 25, 2007 are "grandfathered" as to 403(b) status. However, future transactions such as loans and distributions under such "grandfathered" contracts may result in adverse tax consequences to the owner unless the contracts are or become part of the employer's 403(b) plan, or the employer enters into an information sharing agreement with us. Contributions after September 24, 2007 to an EQUI-VEST(SM) At Retirement(SM) TSA contract may only be made where AXA Equitable is an "approved vendor" under an employer's 403(b) plan in that partici- Contributions after September 24, 2007 to an EQUI-VEST(SM) At Retirement(SM) TSA contract may only be made where AXA Equitable is an "approved vendor" under an employer's 403(b) plan in that partici- Tax information 59 pants in that 403(b) plan are currently contributing to another AXA Equitable 403(b) contract, and the employer agrees to enter into an information sharing agreement by January 1, 2009 with AXA Equitable with respect to the EQUI-VEST(SM) At Retirement(SM) TSA contract. DIRECT TRANSFER CONTRIBUTIONS A tax-free direct transfer occurs when changing the 403(b) plan funding vehicle, even if there is no distributable event. Under a direct transfer a plan participant does not receive a distribution. The 2007 Regulations provide for two types of direct transfers between 403(b) funding vehicles: "plan-to-plan transfers" and "contract exchanges within the same 403(b) plan". 403(b) plans do not have to offer these options. A "plan-to-plan transfer" must meet the following conditions: (i) both the source 403(b) plan and the recipient 403(b) plan permit plan-to-plan transfers; (ii) the transfer from one 403(b) plan to another 403(b) plan is made for a participant (or beneficiary of a deceased participant) who is an employee or former employee of the employer sponsoring the recipient 403(b) plan; (iii) immediately after the transfer the accumulated benefit of the participant (or beneficiary) whose assets are being transferred is at least equal to the participant's (or beneficiary's) accumulated benefit immediately before the transfer; (iv) the recipient 403(b) plan imposes distribution restrictions on transferred amounts at least as stringent as those imposed under the source 403(b) plan; and (v) if the plan-to-plan transfer is not a complete transfer of the participant's (or beneficiary's) interest in the source 403(b) plan, the recipient 403(b) plan treats the amount transferred as a continuation of a pro rata portion of the participant's (or beneficiary's) interest in the source 403(b) plan (for example with respect to the participant's interest in any after-tax employee contributions). We currently do not offer a 403(b) contract for a beneficiary of a deceased participant as discussed above. A "contract exchange within the same 403(b) plan" must meet the following conditions: (i) the 403(b) plan under which the contract is issued must permit contract exchanges; (ii) immediately after the exchange the accumulated benefit of the participant (or beneficiary of a deceased participant) is at least equal to the participant's (or beneficiary's) accumulated benefit immediately before the exchange (taking into account the accumulated benefit of that participant (or beneficiary) under both section 403(b) contracts immediately before the exchange); (iii) the contract issued in the exchange is subject to distribution restrictions with respect to the participant that are not less stringent than those imposed on the contract being exchanged; and (iv) the employer sponsoring the 403(b) plan and the issuer of the contract issued in the exchange agree to provide each other with specified information from time to time in the future ("an information sharing agreement"). The shared information is designed to preserve the requirements of Section 403(b), primarily to comply with loan requirements, hardship withdrawal rules, and distribution restrictions. The amount of any direct transfer contributions made to a 403(b) annuity contract must be net of the required minimum distribution for the tax year in which the contract is issued if the owner is at least age 70-1/2 in the calendar year the contribution is made, and has retired from service with the employer who sponsored the plan or provided the funds to purchase the 403(b) annuity contract which is the source of the contribution. DISTRIBUTIONS FROM TSAS GENERAL. Certain amounts under a 403(b) TSA contract may be restricted from withdrawal but these restrictions do not apply after severance from employment with the employer who provided the funds to purchase the contract. The EQUI-VEST(SM) At Retirement(SM) TSA contract is available for purchase only to TSA participants who are no longer employed with the employer who provided the funds for the purchase of the original EQUI-VEST(SM) TSA contract. Prior to the 2007 Regulations, restrictions on distributions which generally apply to certain amounts in TSAs did not apply to loans, withdrawals or other payments for such severed-from-employment individuals. Generally, after the 2007 Regulations, employer or plan administrator consent is required for loan, withdrawal or distribution transactions under a 403(b) annuity contract. It is not clear how the 2007 Regulations affect post-separation from service contract withdrawals from the At Retirement(SM) TSA. Processing of a requested transaction will not be completed pending receipt of information required to process the transaction under an information sharing agreement between AXA Equitable and the employer sponsoring the plan. TAX TREATMENT OF DISTRIBUTIONS. Amounts held under TSAs are generally not subject to federal income tax until benefits are distributed. Distributions include withdrawals from your TSA contract and annuity payments from your TSA contract. Death benefits paid to a beneficiary are also taxable distributions. Unless an exception applies, amounts distributed from TSAs are includable in gross income as ordinary income. (For example, there is a limited exclusion from gross income for distributions used to pay qualified health insurance premiums of an eligible retired public safety officer from eligible governmental employer 403(b) plans.) Distributions from TSAs may be subject to 20% federal income tax withholding. See "Federal and state income tax withholding and information reporting" later in this section. In addition, TSA distributions may be subject to additional tax penalties. If you have made after-tax contributions, you will have a tax basis in your TSA contract, which will be recovered tax-free. Since we currently do not accept after-tax funds, we do not track your investment in the contract, if any. We will report all distributions from this TSA as fully taxable. It is your responsibility to determine how much of the distribution is taxable. EQUI-VEST(SM)At Retirement(SM) is not available if you have made designated Roth contributions to your original EQUI-VEST(SM) contract. DISTRIBUTIONS BEFORE ANNUITY PAYMENTS BEGIN. On a total surrender, the amount received in excess of the investment in the contract is taxable. The amount of any partial distribution from a TSA prior to the annuity starting date is generally taxable, except to the extent that the distribution is treated as a withdrawal of after-tax contributions. Distributions are normally treated as pro rata withdrawals of any after-tax contributions and earnings on those contributions. ANNUITY PAYMENTS. Guaranteed annual withdrawals that are continued after your account value goes to zero under a supplementary life annuity contract, as discussed under "Guaranteed withdrawal benefit 60 Tax information for life ("GWBL") in "Contract features and benefits" earlier in this prospectus, as well as GMIB and other annuitization payments that are based on the annuitant's life or life expectancy, are considered annuity payments for tax purposes. If you elect an annuity payout option, you will recover any investment in the contract as each payment is received by dividing the investment in the contract by an expected return determined under an IRS table prescribed for qualified annuities. The amount of each payment not excluded from income under this exclusion ratio is fully taxable. The full amount of the payments received after your investment in the contract is recovered is fully taxable. If you (and your beneficiary under a joint and survivor annuity) die before recovering the full investment in the contract, a deduction is allowed on your (or your beneficiary's) final tax return. PAYMENTS TO A BENEFICIARY AFTER YOUR DEATH. Death benefit distributions from a TSA generally receive the same tax treatment as distributions during your lifetime. In some instances, distributions from a TSA made to your surviving spouse may be rolled over to a traditional IRA or other eligible retirement plan. A surviving spouse might also be eligible to roll over a TSA death benefit to a Roth IRA in a taxable conversion rollover, beginning in 2008. A non-spousal death beneficiary may be able to directly roll over death benefits to a new traditional inherited IRA under certain circumstances. EFFECT OF 2007 REGULATIONS ON LOANS FROM TSAS. As a result of the 2007 Regulations loans are not available without employer or plan administrator approval. Loan processing may be delayed pending receipt of information required to process the loan under an information sharing agreement. Processing of a loan request will not be completed pending receipt of information required to process the transaction under an information sharing agreement between AXA Equitable and the employer sponsoring the plan. If loans are available: You may take loans from a TSA unless you have elected GWBL. However, particularly if you have recently been severed from employment, you may need to consult with your former employer concerning loan balance history in order to take a loan from the EQUI-VEST(R) At Retirement(SM) TSA contract. Loans are generally not treated as a taxable distribution. If the amount of the loan exceeds permissible limits under federal income tax rules when made, the amount of the excess is treated (solely for tax purposes) as a taxable distribution. Additionally, if the loan is not repaid at least quarterly, amortizing (paying down) interest and principal, the amount not repaid when due will be treated as a taxable distribution. The entire unpaid balance of the loan, including unpaid interest, is includable in income in the year of the default. TSA loans are subject to federal income tax limits and may also be subject to the limits of the plan from which the funds came. Federal income tax rule requirements apply even if the plan is not subject to ERISA. For example, loans offered by TSAs are subject to the following conditions: o The amount of a loan to a participant, when combined with all other loans to the participant from all qualified plans of the employer, cannot exceed the lesser of: o The amount of a loan to a participant, when combined with all other loans to the participant from all qualified plans of the employer, cannot exceed the lesser of (1) the greater of $10,000 or 50% of the participant's nonforfeitable accrued benefits and (2) $50,000 reduced by the excess (if any) of the highest outstanding loan balance over the previous twelve months over the outstanding loan balance of plan loans on the date the loan was made. Governmental employer EDC plans and 403(b) plans are included in "all qualified plans of the employer" for this purpose. Also, for the purposes of calculating any subsequent loans which may be made under any plan of the same employer, a defaulted loan is treated as still outstanding even after the default is reported to the IRS. The amount treated as outstanding (which limits any subsequent loan) includes interest on the unpaid balance. o In general, the term of the loan cannot exceed five years unless the loan is used to acquire the participant's primary residence. EQUI-VEST(SM) At Retirement(SM) TSA contracts have a term limit of 10 years for loans used to acquire the participant's primary residence. o All principal and interest must be amortized in substantially level payments over the term of the loan, with payments being made at least quarterly. In very limited circumstances, the repayment obligation may be temporarily suspended during a leave of absence. The amount borrowed with respect to an EQUI-VEST(SM) At Retirement(SM) contract and not repaid may be treated as a distribution if: o the loan does not qualify under the conditions above; or o the participant fails to repay the interest or principal when due. In this case, the participant may have to include the unpaid amount due as ordinary income. In addition, the 10% early distribution penalty tax may apply. The amount of the unpaid loan balance is reported to the IRS on Form 1099-R as a distribution. TAX-DEFERRED ROLLOVERS AND FUNDING VEHICLE TRANSFERS. You may roll over an "eligible rollover distribution" from a 403(b) annuity contract into another eligible retirement plan which agrees to accept the rollover. The rollover may be direct rollover or one you do yourself within 60 days after you receive the distribution. To the extent rolled over, a distribution remains tax-deferred. You may roll over a distribution from a 403(b) annuity contract to any of the following: another 403(b) plan funding vehicle, a qualified plan, a governmental employer 457(b) plan (separate accounting required) or a traditional IRA. A spousal beneficiary may also roll over death benefits as above. A non-spousal death beneficiary may be able to directly roll over death benefits to a new traditional inherited IRA under certain circumstances. Effective beginning in 2008, distributions from a 403(b) annuity contract can be rolled over to a Roth IRA. Any taxable portion of the amount rolled over will be taxed at the time of the rollover. Rollovers are subject to the Roth IRA conversion rules, which restrict conversions of traditional IRAs to Roth IRAs to taxpayers with adjusted gross income of no more than $100,000, whether single or married filing jointly. The taxable portion of most distributions will be eligible for rollover, except as specifically excluded under federal income tax rules. Distri- Tax information 61 butions that you cannot roll over generally include periodic payments for life or for a period of 10 years or more, hardship withdrawals and required minimum distributions under federal income tax rules. Direct transfers from one 403(b) annuity contract to another (whether under a plan-to-plan transfer, contract exchange under the same 403(b) plan, or under Rev. Rul. 90-24 prior to the 2007 Regulations, are not distributions. REQUIRED MINIMUM DISTRIBUTIONS Generally the same as traditional IRA with these differences: WHEN YOU HAVE TO TAKE THE FIRST REQUIRED MINIMUM DISTRIBUTION. The minimum distribution rules force 403(b) plan participants to start calculating and taking annual distributions from their TSAs by a required date. Generally, you must take the first required minimum distribution for the calendar year in which you turn age 70-1/2. You may be able to delay the start of required minimum distributions for all or part of your account balance until after age 70-1/2, as follows: o For 403(b) plan participants who have not retired from service with the employer who provided the funds for the TSA by the calendar year the participant turns age 70-1/2, the required beginning date for minimum distributions is extended to April 1 following the calendar year of retirement. (This exception is unlikely to apply as severance from employment from the employer who provided the funds to purchase the original EQUI-VEST(SM) TSA contract is a condition for purchasing the EQUI-VEST(SM) At Retirement(SM) TSA contract.) o 403(b) plan participants may also delay the start of required minimum distributions to age 75 of the portion of their account value attributable to their December 31, 1986, TSA account balance, even if retired at age 70-1/2. We will know whether or not you qualify for this exception because it applies only to people who purchase their EQUI-VEST(SM) At Retirement(SM) TSA contract by direct transfers. The information we have from your original EQUI-VEST(SM) contract carries over. SPOUSAL CONSENT RULES If your original EQUI-VEST(SM) TSA is subject to ERISA, your purchase of EQUI-VEST(SM) At Retirement(SM) TSA contract is subject to prior spousal consent. Your spouse must sign the Conversion Acknowledgment Form. In addition, unless you elect otherwise with the written consent of your spouse, the retirement benefits payable under the plan must be paid in the form of a qualified joint and survivor annuity. A qualified joint and survivor annuity is payable for the life of the annuitant with a survivor annuity for the life of the spouse in an amount not less than one-half of the amount payable to the annuitant during his or her lifetime. In addition, if you are married, the beneficiary must be your spouse, unless your spouse consents in writing to the designation of another beneficiary. If you are married and you die before annuity 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 a contrary election was in effect. However, your surviving spouse may elect, before payments begin, to receive payments in any form permitted under the terms of the TSA contract and the plan of the employer who provided the funds for the TSA. EARLY DISTRIBUTION PENALTY TAX A penalty tax of 10% of the taxable portion of a distribution applies to distributions from a TSA before you reach age 59-1/2. This is in addition to any income tax. There are exceptions to the extra penalty tax. Some of the available exceptions to the pre-age 59-1/2 penalty tax include distributions made: o on or after your death; or o because you are disabled (special federal income tax definition); or o to pay for certain extraordinary medical expenses (special federal income tax definition); or o in any form of payout after you have separated from service (only if the separation occurs during or after the calendar year you reach age 55); or o in a payout in the form of substantially equal periodic payments made at least annually over your life (or your life expectancy), or over the joint lives of you and your beneficiary (or your joint life expectancies) using an IRS-approved distribution method (only after you have separated from service at any age). We do not anticipate that Guaranteed annual payments made under the Guaranteed withdrawal benefit for life's Maximum or Customized payment plan or taken as partial withdrawals will qualify for this exception if made before age 59-1/2. FEDERAL AND STATE INCOME TAX WITHHOLDING AND INFORMATION REPORTING We must withhold federal income tax from distributions from annuity contracts. You may be able to elect out of this income tax withholding in some cases. Generally, we do not have to withhold if your distributions are not taxable. The rate of withholding will depend on the type of distribution and, in certain cases, the amount of your distribution. Any income tax withheld is a credit against your income tax liability. If you do not have sufficient income tax withheld or do not make sufficient estimated income tax payments, you may incur penalties under the estimated income tax rules. You must file your request not to withhold in writing before the payment or distribution is made. Our processing office will provide forms for this purpose. You cannot elect out of withholding unless you provide us with your correct Taxpayer Identification Number and a United States residence address. You cannot elect out of withholding if we are sending the payment out of the United States. You should note the following special situations: o We might have to withhold and/or report on amounts we pay under a free look or cancellation. o We are required to withhold on the gross amount of a distribution from a Roth IRA to the extent it is reasonable for us to believe that a distribution is includable in your gross income. This may result in tax being withheld even though the Roth IRA distribution is ultimately not taxable. You can elect out of withholding as described below. Special withholding rules apply to foreign recipients and United States citizens residing outside the United States. We do not discuss these 62 Tax information rules here in detail. However we may require additional documentation in the case of payments made to non United States persons and United States persons living abroad prior to processing any requested transaction. Certain states have indicated that state income tax withholding will also apply to payments from the contracts made to residents. In some states, you may elect out of state withholding, even if federal withholding applies. Generally, an election out of federal withholding will also be considered an election out of state withholding. If you need more information concerning a particular state or any required forms, call our processing office at the toll-free number. FEDERAL INCOME TAX WITHHOLDING ON PERIODIC ANNUITY PAYMENTS We withhold differently on "periodic" and "non-periodic" payments. For a periodic annuity payment, for example, unless you specify a different number of withholding exemptions, we withhold assuming that you are married and claiming three withholding exemptions. If you do not give us your correct Taxpayer Identification Number, we withhold as if you are single with no exemptions. Based on the assumption that you are married and claiming three withholding exemptions, if you receive less than $18,720 in periodic annuity payments in 2008, your payments will generally be exempt from federal income tax withholding. You could specify a different choice of withholding exemption or request that tax be withheld. Your withholding election remains effective unless and until you revoke it. You may revoke or change your withholding election at anytime. FEDERAL INCOME TAX WITHHOLDING ON NON-PERIODIC ANNUITY PAYMENTS (WITHDRAWALS) For a non-periodic distribution (total surrender or partial withdrawal), we generally withhold at a flat 10% rate. We apply that rate to the taxable amount in the case of nonqualified contracts, and to the payment amount in the case of traditional IRAs and Roth IRAs, where it is reasonable to assume an amount is includable in gross income. You cannot elect out of withholding if the payment is an eligible rollover distribution from a TSA. If a non-periodic distribution from a qualified plan or TSA is not an eligible rollover distribution then the 10% withholding rate applies. MANDATORY WITHHOLDING FROM TSA DISTRIBUTIONS Unless the distribution is directly rolled over to another eligible retirement plan, eligible rollover distributions from TSAs are subject to mandatory 20% withholding. An eligible rollover distribution from a TSA can be rolled over to another eligible retirement plan. All distributions from a TSA are eligible rollover distributions unless they are on the following list of exceptions: o any distributions which are required minimum distributions after age 70-1/2 or retirement from service with the employer; or o substantially equal periodic payments made at least annually for the plan participant's life (or life expectancy) or the joint lives (or joint life expectancies) of the plan participant (and your designated beneficiary); or o substantially equal periodic payments made for a specified period of 10 years or more; or o hardship withdrawals; or o corrective distributions that fit specified technical tax rules; or o loans that are treated as distributions; or o a death benefit payment to a beneficiary who is not the plan participant's surviving spouse; or o a qualified domestic relations order distribution to a beneficiary who is not the plan participant's current spouse or former spouse. A death benefit payment to the plan participant's surviving spouse, or a qualified domestic relations order distribution to the plan participant's current or former spouse, may be a distribution subject to mandatory 20% withholding. IMPACT OF TAXES TO AXA EQUITABLE The contracts provide that we may charge Separate Account A for taxes. We do not now, but may in the future set up reserves for such taxes. Tax information 63 8. More information - -------------------------------------------------------------------------------- ABOUT OUR SEPARATE ACCOUNT A Each variable investment option is a subaccount of our Separate Account A. We established Separate Account A in 1968 under special provisions of the New York Insurance Law. These provisions prevent creditors from any other business we conduct from reaching the assets we hold in our variable investment options for owners of our variable annuity contracts. We are the legal owner of all of the assets in Separate Account A and may withdraw any amounts that exceed our reserves and other liabilities with respect to variable investment options under our contracts. For example, we may withdraw amounts from Separate Account A that represent our investments in Separate Account A or that represent fees and charges under the contracts that we have earned. The results of Separate Account A's operations are accounted for without regard to AXA Equitable's other operations. The amount of some of our obligations under the contracts is based on the assets in Separate Account A. However, the obligations themselves are obligations of AXA Equitable. Separate Account A is registered under the Investment Company Act of 1940 and is registered and classified under that act as a "unit investment trust." The SEC, however, does not manage or supervise AXA Equitable or Separate Account A. Although Separate Account A is registered, the SEC does not monitor the activity of Separate Account A on a daily basis. AXA Equitable is not required to register, and is not registered, as an investment company under the Investment Company Act of 1940. Each subaccount (variable investment option) within Separate Account A that is available under the contract invests solely in Class IB/B shares issued by the corresponding portfolio of its Trust. We reserve the right subject to compliance with laws that apply: (1) to add variable investment options to, or to remove variable investment options from, Separate Account A, or to add other separate accounts; (2) to combine any two or more variable investment options; (3) to transfer the assets we determine to be the shares of the class of contracts to which the contracts belong from any variable investment option to another variable investment option; (4) to operate Separate Account A or any variable investment option as a management investment company under the Investment Company Act of 1940 (in which case, charges and expenses that otherwise would be assessed against an underlying mutual fund would be assessed against Separate Account A or a variable investment option directly); (5) to deregister Separate Account A under the Investment Company Act of 1940; (6) to restrict or eliminate any voting rights as to Separate Account A; (7) to cause one or more variable investment options to invest some or all of their assets in one or more other trusts or investment companies; and (8) to unilaterally change your contract in order to comply with any applicable laws and regulations, including but not limited to changes in the Internal Revenue Code, in Treasury Regulations or in published rulings of the Internal Revenue Service and in Department of Labor regulations. Any change in the contract must be in writing and made by our authorized officer. We will provide notice of any contract change. ABOUT THE TRUSTS The Trusts are registered under the Investment Company Act of 1940. They are classified as "open-end management investment companies," more commonly called mutual funds. Each Trust issues different shares relating to each portfolio. The Trusts do not impose sales charges or "loads" for buying and selling its shares. All dividends and other distributions on Trust shares are reinvested in full. The Board of Trustees of the Trusts may establish additional portfolios or eliminate existing portfolios at any time. More detailed information about each Trust, its portfolio investment objectives, policies, restrictions, risks, expenses, its Rule 12b-1 Plan and other aspects of its operations, appears in the prospectuses for each Trust which generally accompany this prospectus, or in their respective SAIs which are available upon request. ABOUT OUR FIXED MATURITY OPTIONS RATES TO MATURITY AND PRICE PER $100 OF MATURITY VALUE We can determine the amount required to be allocated to one or more fixed maturity options in order to produce specified maturity values. For example, we can tell you how much you need to allocate per $100 of maturity value. The rates to maturity are determined weekly. The rates in the table below are illustrative only and will most likely differ from the rates applicable at time of purchase. Current rates to maturity can be obtained from TOPS or EQAccess or your financial professional. The rates to maturity for new allocations as of February 15, 2008 and the related price per $100 of maturity value were as shown below: - -------------------------------------------------------------------------------- Fixed Maturity Options with June 15th Rate to Price Maturity Date of Maturity as of Per $100 of Maturity Year February 15, 2008 Maturity Value - -------------------------------------------------------------------------------- 2008 3.00%** $ 99.02 2009 3.00%** $ 96.14 2010 3.00%** $ 93.34 2011 3.00%** $ 90.62 2012 3.00%** $ 87.98 2013 3.20% $ 84.53 2014 3.65% $ 79.69 2015* 4.05% $ 74.74 2016* 4.25% $ 70.68 2017* 4.45% $ 66.60 - -------------------------------------------------------------------------------- * Not available in Oregon ** Since these rates to maturity are 3%, no amounts could have been allocated to these options. 64 More information HOW WE DETERMINE THE MARKET VALUE ADJUSTMENT We use the following procedure to calculate the market value adjustment (up or down) we make if you withdraw all of your value from a fixed maturity option before its maturity date. (1) We determine the market adjusted amount on the date of the withdrawal as follows: (a) We determine the fixed maturity amount that would be payable on the maturity date, using the rate to maturity for the fixed maturity option. (b) We determine the period remaining in your fixed maturity option (based on the withdrawal date) and convert it to fractional years based on a 365-day year. For example, three years and 12 days becomes 3.0329. (c) We determine the current rate to maturity that applies on the withdrawal date to new allocations to the same fixed maturity option. (d) We determine the present value of the fixed maturity amount payable at the maturity date, using the period determined in (b) and the rate determined in (c). (2) We determine the fixed maturity amount as of the current date. (3) We subtract (2) from the result in (1)(d). The result is the market value adjustment applicable to such fixed maturity option, which may be positive or negative. - -------------------------------------------------------------------------------- Your market adjusted amount is the present value of the maturity value discounted at the rate to maturity in effect for new contributions to that same fixed maturity option on the date of the calculation. - -------------------------------------------------------------------------------- If you withdraw only a portion of the amount in a fixed maturity option, the market value adjustment will be a percentage of the market value adjustment that would have applied if you had withdrawn the entire value in that fixed maturity option. This percentage is equal to the percentage of the value in the fixed maturity option that you are withdrawing. See Appendix II at the end of this prospectus for an example. For purposes of calculating the rate to maturity for new allocations to a fixed maturity option (see (1)(c) above), we use the rate we have in effect for new allocations to that fixed maturity option. We use this rate even if new allocations to that option would not be accepted at that time. This rate will not be less than 3%. If we do not have a rate to maturity in effect for a fixed maturity option to which the "current rate to maturity" in (1)(c) above would apply, we will use the rate at the next closest maturity date. If we are no longer offering new fixed maturity options, the "current rate to maturity" will be determined in accordance with our procedures then in effect. We reserve the right to add up to 0.50% to the current rate in (1)(c) above for purposes of calculating the market value adjustment only. INVESTMENTS UNDER THE FIXED MATURITY OPTIONS Amounts allocated to the fixed maturity options are held in a "nonunitized" separate account we have established under the New York Insurance Law. This separate account provides an additional measure of assurance that we will make full payment of amounts due under the fixed maturity options. Under New York Insurance Law, the portion of the separate account's assets equal to the reserves and other contract liabilities relating to the contracts are not chargeable with liabilities from any other business we may conduct. We own the assets of the separate account, as well as any favorable investment performance on those assets. You do not participate in the performance of the assets held in this separate account. We may, subject to state law that applies, transfer all assets allocated to the separate account to our general account. We guarantee all benefits relating to your value in the fixed maturity options, regardless of whether assets supporting fixed maturity options are held in a separate account or our general account. We have no specific formula for establishing the rates to maturity for the fixed maturity options. We expect the rates to maturity for the fixed maturity options to be influenced by, but not necessarily correspond to, among other things, the yields that we can expect to realize on the separate account's investments from time to time. Our current plans are to invest in fixed-income obligations, including corporate bonds, mortgage-backed and asset-backed securities, and government and agency issues having durations in the aggregate consistent with those of the fixed maturity options. Although the above generally describes our plans for investing the assets supporting our obligations under the fixed maturity options under the contracts, we are not obligated to invest those assets according to any particular plan except as we may be required to by state insurance laws. We will not determine the rates to maturity we establish by the performance of the nonunitized separate account. ABOUT THE GENERAL ACCOUNT Our general account supports all of our policy and contract guarantees, including those that apply to the guaranteed interest option and fixed maturity options, as well as our general obligations. The general account is subject to regulation and supervision by the Insurance Department of the State of New York and to the insurance laws and regulations of all jurisdictions where we are authorized to do business. Interests under the contracts in the general account have not been registered and are not required to be registered under the Securities Act of 1933 because of exemptions and exclusionary provisions that apply. The general account is not required to register as an investment company under the Investment Company Act of 1940 and it is not registered as an investment company under the Investment Company Act of 1940. The market value adjustment interests under the contracts, which are held in a separate account, are issued by AXA Equitable and are registered under the Securities Act of 1933. The contract is a "covered security" under the federal securities laws. We have been advised that the staff of the SEC has not reviewed the portions of this prospectus that relate to the general account. The disclosure with regard to the general account, however, may be subject to certain provisions of the federal securities laws relating to the accuracy and completeness of statements made in prospectuses. DATES AND PRICES AT WHICH CONTRACT EVENTS OCCUR We describe below the general rules for when, and at what prices, events under your contract will occur. Other portions of this prospectus More information 65 describe circumstances that may cause exceptions. We generally do not repeat those exceptions below. BUSINESS DAY Our "business day" is generally any day the New York Stock Exchange ("NYSE") is open for regular trading and generally ends at 4:00 p.m. Eastern Time (or as of an earlier close of regular trading). A business day does not include a day on which we are not open due to emergency conditions determined by the Securities and Exchange Commission. We may also close early due to such emergency conditions. Contributions will be applied and any other transaction requests will be processed when they are received along with all the required information unless another date applies as indicated below. o If your contribution, transfer or any other transaction request containing all the required information reaches us on any of the following, we will use the next business day: - on a non-business day: - after 4:00 p.m. Eastern Time on a business day; or - after an early close of regular trading on the NYSE on a business day. o A loan request under your TSA contract will be processed on the first business day of the month following the date on which the properly completed loan request form is received. o If your transaction is set to occur on the same day of the month as the contract date and that date is the 29th, 30th or 31st of the month, then the transaction will occur on the 1st day of the next month. o When a charge is to be deducted on a contract date anniversary that is a non-business day, we will deduct the charge on the next business day. CONTRIBUTIONS AND TRANSFERS o Contributions allocated to the variable investment options are invested at the unit value next determined after the receipt of the contribution. o Contributions allocated to the guaranteed interest option will receive the crediting rate in effect on that business day for the specified time period. o Contributions allocated to a fixed maturity option will receive the rate to maturity in effect for that fixed maturity option on that business day. o If a fixed maturity option is scheduled to mature on June 15th and June 15th is a non-business day, that fixed maturity option will mature on the prior business day. o Transfers to or from variable investment options will be made at the unit value next determined after the receipt of the transfer request. o Transfers to a fixed maturity option will receive the rate to maturity in effect for that fixed maturity option on that business day. o Transfers to the guaranteed interest option will receive the crediting rate in effect on that business day for the specified time period. o Transfers out of a fixed maturity option will be at the market adjusted amount on that business day. o For the fixed-dollar option, the first monthly transfer will occur on the last business day of the month in which we receive your election form at our processing office. o For the interest sweep, the first monthly transfer will occur on the last business day of the month following the month that we receive your election form at our processing office. o Quarterly rebalancing will be processed on a calendar year basis. Semiannual or annual rebalancing will be processed on the first business day of the month. Rebalancing will not be done retroactively. o Requests for withdrawals or surrenders will occur on the business day that we receive the information that we require. ABOUT YOUR VOTING RIGHTS As the owner of the shares of the Trusts we have the right to vote on certain matters involving the portfolios, such as: o the election of trustees; o the formal approval of independent public accounting firms selected for each Trust; or o any other matters described in each prospectus for the Trusts or requiring a shareholders' vote under the Investment Company Act of 1940. We will give contract owners the opportunity to instruct us how to vote the number of shares attributable to their contracts if a shareholder vote is taken. If we do not receive instructions in time from all contract owners, we will vote the shares of a portfolio for which no instructions have been received in the same proportion as we vote shares of that portfolio for which we have received instructions. We will also vote any shares that we are entitled to vote directly because of amounts we have in a portfolio in the same proportions that contract owners vote. The Trusts sell their shares to AXA Equitable separate accounts in connection with AXA Equitable's variable annuity and/or life insurance products, and to separate accounts of insurance companies, both affiliated and unaffiliated with AXA Equitable. AXA Premier VIP Trust and EQ Advisors Trust also sell their shares to the trustee of a qualified plan for AXA Equitable. We currently do not foresee any disadvantages to our policyowners arising out of these arrangements. However, the Board of Trustees or Directors of each Trust intend to monitor events to identify any material irreconcilable conflicts that may arise and to determine what action, if any, should be taken in response. If we believe that a Board's response insufficiently protects our policyowners, we will see to it that appropriate action is taken to do so. SEPARATE ACCOUNT A VOTING RIGHTS If actions relating to the separate account require contract owner approval, contract owners will be entitled to one vote for each unit they have in the variable investment options. Each contract owner who has elected a variable annuity payout option may cast the number of 66 More information votes equal to the dollar amount of reserves we are holding for that annuity in a variable investment option divided by the annuity unit value for that option. We will cast votes attributable to any amounts we have in the variable investment options in the same proportion as votes cast by contract owners. CHANGES IN APPLICABLE LAW The voting rights we describe in this prospectus are created under applicable federal securities laws. To the extent that those laws or the regulations published under those laws eliminate the necessity to submit matters for approval by persons having voting rights in separate accounts of insurance companies, we reserve the right to proceed in accordance with those laws or regulations. ABOUT LEGAL PROCEEDINGS AXA Equitable and its affiliates are parties to various legal proceedings. In our view, none of these proceedings would be considered material with respect to a contract owner's interest in Separate Account A, nor would any of these proceedings be likely to have a material adverse effect upon the separate account, our ability to meet our obligations under the contracts, or the distribution of the contracts. FINANCIAL STATEMENTS The financial statements of Separate Account A, as well as the consolidated financial statements of AXA Equitable, are in the SAI. The SAI is available free of charge. You may request one by writing to our processing office or calling 800-628-6673. TRANSFERS OF OWNERSHIP, COLLATERAL ASSIGNMENTS, LOANS AND BORROWING You can transfer ownership of an NQ contract at any time before annuity payments begin. We will continue to treat you as the owner until we receive written notification of any change at our processing office. You cannot assign your NQ contract as collateral or security for a loan. Loans are also not available under your NQ contract. In some cases, an assignment or change of ownership may have adverse tax consequences. See "Tax information" earlier in this prospectus. For NQ contracts only, subject to regulatory approval, if you elected the Guaranteed minimum death benefit, Guaranteed minimum income benefit and/or GWBL ("Benefit"), generally the Benefit will automatically terminate if you change ownership of the contract or if you assign the owner's right to change the beneficiary or person to whom annuity payments will be made. However, the Benefit will not terminate if the ownership of the contract is transferred from a non-natural owner to an individual but the contract will continue to be based on the annuitant's life. Please speak with your financial professional for further information. See Appendix V later in this prospectus for any state variations with regard to terminating any benefits under your contract. You cannot assign or transfer ownership of IRA or TSA contracts except by surrender to us. Loans are not available and you cannot assign IRA contracts as security for a loan or other obligation. Loans are generally available under a TSA contract. For limited transfers of ownership after the owner's death see "Beneficiary continuation option" in "Payment of death benefit" earlier in this prospectus. You may direct the transfer of the values under your IRA or TSA contract to another similar arrangement under federal income tax rules. DISTRIBUTION OF THE CONTRACTS The contracts are distributed by AXA Advisors, LLC ("AXA Advisors"). AXA Advisors serves as a principal underwriter of Separate Account A. The offering of the contracts is intended to be continuous. AXA Advisors is an affiliate of AXA Equitable and under common control of AXA Financial, Inc. AXA Advisors is registered with the SEC as a broker-dealer and is a member of the Financial Industry Regulatory Authority, Inc. ("FINRA"). Its principal business address is 1290 Avenue of the Americas, New York, NY 10104. AXA Advisors also acts as a distributor for other AXA Equitable life and annuity products. The contracts are sold by financial professionals of AXA Advisors and its affiliates. The contracts are also sold by financial professionals of both affiliated and unaffiliated broker-dealers that have entered into selling agreements with AXA Advisors ("Selling broker-dealers"). AXA Advisors is under the common control of AXA Financial, Inc. AXA Equitable pays compensation to AXA Advisors based on contracts sold. Sales compensation paid to AXA Advisors will be asset-based and will generally not exceed 0.10% of the account value of the contract on an ongoing annual basis. AXA Advisors, in turn, may pay a portion of the asset-based compensation received from AXA Equitable to the AXA Advisors financial professional and/or Selling broker-dealer making the sale. The asset-based compensation paid by AXA Advisors varies among financial professionals and among Selling broker-dealers. AXA Advisors may pay certain affiliated and/or unaffiliated Selling broker-dealers and other financial intermediaries additional compensation in recognition of certain expenses that may be incurred by it or on its behalf. AXA Advisors may also pay certain broker-dealers or other financial intermediaries additional compensation for enhanced marketing opportunities and other services (commonly referred to as "marketing allowances"). Services for which such payments are made may include, but are not limited to, the preferred placement of AXA Equitable and/or EQUI-VEST(SM) At Retirement(SM) on a company and/or product list; sales personnel training; product training; business reporting; technological support; due diligence and related costs; advertising, marketing and related services; conferences; and/or other support services, including some that may benefit the contract owner. Payments may be based on the amount of assets or purchase payments attributable to contracts sold through a Selling broker-dealer or such payments may be a fixed amount. AXA Advisors may also make fixed payments to Selling broker-dealers in connection with the initiation of a new relationship or the introduction of a new product. These payments may serve as an incentive for Selling broker-dealers to promote the sale of particular products. Additionally, as an incentive for financial professionals of Selling broker-dealers to promote the sale of AXA Equitable products, AXA Advisors may increase the sales com- More information 67 pensation paid to the Selling broker-dealer for a period of time (commonly referred to as "compensation enhancements"). Marketing allowances and sales incentives are made out of AXA Advisors' assets. Not all Selling broker-dealers receive these kinds of payments. For more information about any such arrangements, ask your financial professional. AXA Advisors will receive 12b-1 fees from certain portfolios for providing certain distribution and/or shareholder support services. AXA Advisors or its affiliates may also receive payments from the advisers of the portfolios or their affiliates to help defray expenses for sales meetings or seminar sponsorships that may relate to the contracts and/or the advisers' respective portfolios. In an effort to promote the sale of our products, AXA Advisors may provide its financial professionals and managerial personnel with a higher percentage of sales commissions and/or cash compensation for the sale of an affiliated variable product than it would the sale of an unaffiliated product. Such practice is known as providing "differential compensation." In addition, managerial personnel may receive expense reimbursements, marketing allowances and commission-based payments known as "overrides." Certain components of the compensation of financial professionals who are managers are based on the sale of affiliated variable products. Managers earn higher compensation (and credits toward awards and bonuses) if those they manage sell more affiliated variable products. AXA Advisors may provide other forms of compensation to its financial professionals, including health and retirement benefits. For tax reasons, AXA Advisors financial professionals qualify for health and retirement benefits based solely on their sales of our affiliated products. These payments and differential compensation (together, the "payments") can vary in amount based on the applicable product and/or entity or individual involved. As with any incentive, such payments may cause the financial professional to show preference in recommending the purchase or sale of AXA Equitable products. However, under applicable rules of FINRA, AXA Advisors may only recommend to you products that they reasonably believe are suitable for you based on facts that you have disclosed as to your other security holdings, financial situation and needs. In making any recommendation, financial professionals of AXA Advisors may nonetheless face conflicts of interest because of the differences in compensation from one product category to another, and because of differences in compensation between products in the same category. In addition, AXA Advisors may offer sales incentive programs to financial professionals who meet specified production levels for the sale of both affiliated and unaffiliated products which provide non-cash compensation such as stock options awards and/or stock appreciation rights, expense-paid trips, expense-paid educational seminars and merchandise. Although AXA Equitable takes all of its costs into account in establishing the level of fees and expenses in its products, any asset-based compensation paid by AXA Equitable to AXA Advisors will not result in any separate charge to you under your contract. All payments made will be in compliance with all applicable FINRA rules and other laws and regulations. 68 More information 9. Incorporation of certain documents by reference - -------------------------------------------------------------------------------- AXA Equitable's Annual Report on Form 10-K for the period ended December 31, 2007 (the "Annual Report") is considered to be part of this prospectus because it is incorporated by reference. AXA Equitable intends to send owners account statements and other such legally-required reports. AXA Equitable does not anticipate such reports will include periodic financial statements or information concerning AXA Equitable. AXA Equitable files reports and other information with the SEC, as required by law. You may read and copy this information at the SEC's public reference facilities at Room 1580, 100 F Street, NE, Washington, DC 20549, or by accessing the SEC's website at www.sec.gov. The public may obtain information on the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0330. Under the Securities Act of 1933, AXA Equitable has filed with the SEC a registration statement relating to the Market Value Adjustment (the "Registration Statement"). This prospectus has been filed as part of the Registration Statement and does not contain all of the information set forth in the Registration Statement. Please see the Registration Statement for additional information concerning the Market Value Adjustment. The Annual Report includes the audited consolidated financial statements of AXA Equitable at December 31, 2007 and 2006 and for each of the three years in the period ended December 31, 2007 (the "AXA Equitable Financial Statements"). The AXA Equitable Financial Statements are included in the Annual Report and incorporated by reference into this prospectus in reliance on the report of PricewaterhouseCoopers LLP, an independent registered public accounting firm. The AXA Equitable Financial Statements are also included in the Annual Report and incorporated by reference into this prospectus in reliance on the reports of KPMG LLP, an independent registered public accounting firm, on (i) the Consolidated Statements of Income, Changes in Partners' Capital and Comprehensive Income, and Cash Flows of AllianceBernstein L.P. and (ii) the Statements of Income, Changes in Partners' Capital and Comprehensive Income, and Cash Flows of AllianceBernstein Holding L.P. (together "AllianceBernstein", formerly "Alliance") for the year ended December 31, 2005. The reports are given on the authority of said firms as experts in auditing and accounting. KPMG LLP was AllianceBernstein's independent registered public accounting firm for the year ended December 31, 2005. On March 8, 2006, KPMG LLP was terminated, and PricewaterhouseCoopers LLP was appointed as AllianceBernstein's independent registered public accounting firm, as disclosed on AXA Equitable's Report on Form 8-K filed on March 13, 2006. AllianceBernstein Corporation, an indirect wholly owned subsidiary of AXA Equitable, is the general partner of both AllianceBernstein L.P. and AllianceBernstein Holding L.P. Any statement contained in a document that is or becomes part of this prospectus, will be considered changed or replaced for purposes of this prospectus if a statement contained in this prospectus changes or is replaced. Any statement that is considered to be a part of this prospectus because of its incorporation will be considered changed or replaced for the purpose of this prospectus if a statement contained in any other subsequently filed document that is considered to be part of this prospectus changes or replaces that statement. After that, only the statement that is changed or replaced will be considered to be part of this prospectus. We file our Exchange Act documents and reports, including our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, electronically according to EDGAR under CIK No. 0000727920. The SEC maintains a website that contains reports, proxy and information statements, and other information regarding registrants that file electronically with the SEC. The address of the website is www.sec.gov. Upon written or oral request, we will provide, free of charge, to each person to whom this prospectus is delivered, a copy of any or all of the documents considered to be part of this prospectus because they are incorporated herein. This does not include exhibits not specifically incorporated by reference into the text of such documents. Requests for documents should be directed to AXA Equitable Life Insurance Company, 1290 Avenue of the Americas, New York, New York 10104. Attention: Corporate Secretary (telephone: (212) 554-1234). Incorporation of certain documents by reference 69 Appendix I: Condensed financial information - -------------------------------------------------------------------------------- The following tables show the unit values and the number of outstanding units for each variable investment option on the last business day of the periods shown. The information presented is shown for the past ten years, or from the first year the particular contracts were offered if less than ten years ago. THE UNIT VALUES AND NUMBERS OF UNITS OUTSTANDING SHOWN BELOW ARE FOR CONTRACTS OFFERED UNDER SEPARATE ACCOUNT A WITH THE SAME DAILY ASSET CHARGE OF 1.30%. UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007. - -------------------------------------------------------------------------------- For the years ending December 31, ---------------------- 2006 2007 - -------------------------------------------------------------------------------- AXA Aggressive Allocation - -------------------------------------------------------------------------------- Unit value $ 104.54 $ 109.55 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 20 - -------------------------------------------------------------------------------- AXA Conservative Allocation - -------------------------------------------------------------------------------- Unit value $ 101.50 $ 106.00 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 4 - -------------------------------------------------------------------------------- AXA Conservative-Plus Allocation - -------------------------------------------------------------------------------- Unit value $ 102.29 $ 106.51 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 11 - -------------------------------------------------------------------------------- AXA Moderate Allocation - -------------------------------------------------------------------------------- Unit value $ 102.92 $ 107.96 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 66 - -------------------------------------------------------------------------------- AXA Moderate-Plus Allocation - -------------------------------------------------------------------------------- Unit value $ 103.68 $ 108.88 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 93 - -------------------------------------------------------------------------------- EQ/AllianceBernstein Common Stock - -------------------------------------------------------------------------------- Unit value $ 103.98 $ 106.21 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 22 - -------------------------------------------------------------------------------- EQ/AllianceBernstein Intermediate Government Securities - -------------------------------------------------------------------------------- Unit value $ 100.25 $ 105.74 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 1 - -------------------------------------------------------------------------------- EQ/AllianceBernstein International - -------------------------------------------------------------------------------- Unit value $ 105.78 $ 116.66 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 17 - -------------------------------------------------------------------------------- EQ/AllianceBernstein Large Cap Growth - -------------------------------------------------------------------------------- Unit value $ 103.07 $ 115.96 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 1 - -------------------------------------------------------------------------------- EQ/AllianceBernstein Quality Bond - -------------------------------------------------------------------------------- Unit value $ 100.62 $ 103.82 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 1 - -------------------------------------------------------------------------------- EQ/AllianceBernstein Small Cap Growth - -------------------------------------------------------------------------------- Unit value $ 103.66 $ 119.40 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 5 - -------------------------------------------------------------------------------- EQ/AllianceBernstein Value - -------------------------------------------------------------------------------- Unit value $ 104.11 $ 98.09 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 18 - -------------------------------------------------------------------------------- EQ/Ariel Appreciation II - -------------------------------------------------------------------------------- Unit value $ 103.36 $ 100.82 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/AXA Rosenberg Value Long/Short Equity - -------------------------------------------------------------------------------- Unit value $ 99.01 $ 100.94 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/BlackRock Basic Value Equity - -------------------------------------------------------------------------------- A-1 Appendix I: Condensed financial information THE UNIT VALUES AND NUMBERS OF UNITS OUTSTANDING SHOWN BELOW ARE FOR CONTRACTS OFFERED UNDER SEPARATE ACCOUNT A WITH THE SAME DAILY ASSET CHARGE OF 1.30%. UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007. - -------------------------------------------------------------------------------- For the years ending December 31, ---------------------- 2006 2007 - -------------------------------------------------------------------------------- Unit value $ 104.24 $ 104.10 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 4 - -------------------------------------------------------------------------------- EQ/BlackRock International Value - -------------------------------------------------------------------------------- Unit value $ 104.70 $ 113.87 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 5 - -------------------------------------------------------------------------------- EQ/Boston Advisors Equity Income - -------------------------------------------------------------------------------- Unit value $ 104.50 $ 106.97 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 6 - -------------------------------------------------------------------------------- EQ/Calvert Socially Responsible - -------------------------------------------------------------------------------- Unit value $ 101.26 $ 112.07 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/Capital Guardian Growth - -------------------------------------------------------------------------------- Unit value $ 101.69 $ 105.87 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/Capital Guardian Research - -------------------------------------------------------------------------------- Unit value $ 102.34 $ 102.69 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 1 - -------------------------------------------------------------------------------- EQ/Caywood-Scholl High Yield Bond - -------------------------------------------------------------------------------- Unit value $ 102.26 $ 103.77 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 2 - -------------------------------------------------------------------------------- EQ/Davis New York Venture - -------------------------------------------------------------------------------- Unit value -- $ 97.08 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 2 - -------------------------------------------------------------------------------- EQ/Equity 500 Index - -------------------------------------------------------------------------------- Unit value $ 103.03 $ 106.74 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 8 - -------------------------------------------------------------------------------- EQ/Evergreen International Bond - -------------------------------------------------------------------------------- Unit value $ 101.77 $ 109.81 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 2 - -------------------------------------------------------------------------------- EQ/Evergreen Omega - -------------------------------------------------------------------------------- Unit value $ 103.62 $ 113.87 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 1 - -------------------------------------------------------------------------------- EQ/FI Mid Cap - -------------------------------------------------------------------------------- Unit value $ 104.66 $ 111.60 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 4 - -------------------------------------------------------------------------------- EQ/Franklin Income - -------------------------------------------------------------------------------- Unit value $ 102.67 $ 103.43 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 12 - -------------------------------------------------------------------------------- EQ/Franklin Small Cap Value - -------------------------------------------------------------------------------- Unit value $ 103.24 $ 93.11 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 1 - -------------------------------------------------------------------------------- EQ/Franklin Templeton Founding Strategy - -------------------------------------------------------------------------------- Unit value -- $ 95.29 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 12 - -------------------------------------------------------------------------------- EQ/GAMCO Mergers and Acquisitions - -------------------------------------------------------------------------------- Unit value $ 102.27 $ 104.40 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 1 - -------------------------------------------------------------------------------- EQ/GAMCO Small Company Value - -------------------------------------------------------------------------------- Unit value $ 103.86 $ 112.05 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 9 - -------------------------------------------------------------------------------- EQ/International Core PLUS - -------------------------------------------------------------------------------- Appendix I: Condensed financial information A-2 THE UNIT VALUES AND NUMBERS OF UNITS OUTSTANDING SHOWN BELOW ARE FOR CONTRACTS OFFERED UNDER SEPARATE ACCOUNT A WITH THE SAME DAILY ASSET CHARGE OF 1.30%. UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007. - -------------------------------------------------------------------------------- For the years ending December 31, ---------------------- 2006 2007 - -------------------------------------------------------------------------------- Unit value $ 104.12 $ 118.42 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 1 - -------------------------------------------------------------------------------- EQ/International Growth - -------------------------------------------------------------------------------- Unit value $ 105.82 $ 121.38 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/JPMorgan Core Bond - -------------------------------------------------------------------------------- Unit value $ 100.66 $ 102.44 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 5 - -------------------------------------------------------------------------------- EQ/JPMorgan Value Opportunities - -------------------------------------------------------------------------------- Unit value $ 104.18 $ 101.59 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 1 - -------------------------------------------------------------------------------- EQ/Large Cap Core PLUS - -------------------------------------------------------------------------------- Unit value $ 102.43 $ 105.03 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/Large Cap Growth PLUS - -------------------------------------------------------------------------------- Unit value $ 104.10 $ 118.81 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 1 - -------------------------------------------------------------------------------- EQ/Legg Mason Value Equity - -------------------------------------------------------------------------------- Unit value $ 104.08 $ 96.64 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 1 - -------------------------------------------------------------------------------- EQ/Long Term Bond - -------------------------------------------------------------------------------- Unit value $ 100.40 $ 106.43 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/Lord Abbett Growth and Income - -------------------------------------------------------------------------------- Unit value $ 103.02 $ 105.22 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/Lord Abbett Large Cap Core - -------------------------------------------------------------------------------- Unit value $ 103.63 $ 112.11 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/Lord Abbett Mid Cap Value - -------------------------------------------------------------------------------- Unit value $ 103.83 $ 103.08 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 1 - -------------------------------------------------------------------------------- EQ/Marsico Focus - -------------------------------------------------------------------------------- Unit value $ 105.05 $ 118.26 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 8 - -------------------------------------------------------------------------------- EQ/Mid Cap Value PLUS - -------------------------------------------------------------------------------- Unit value $ 103.66 $ 100.68 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 4 - -------------------------------------------------------------------------------- EQ/Money Market - -------------------------------------------------------------------------------- Unit value $ 100.60 $ 103.97 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 1 - -------------------------------------------------------------------------------- EQ/Montag & Caldwell Growth - -------------------------------------------------------------------------------- Unit value $ 101.82 $ 121.42 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/Mutual Shares - -------------------------------------------------------------------------------- Unit value $ 103.66 $ 104.00 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 8 - -------------------------------------------------------------------------------- EQ/Oppenheimer Global - -------------------------------------------------------------------------------- Unit value $ 105.12 $ 109.68 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 1 - -------------------------------------------------------------------------------- EQ/Oppenheimer Main Street Opportunity - -------------------------------------------------------------------------------- A-3 Appendix I: Condensed financial information THE UNIT VALUES AND NUMBERS OF UNITS OUTSTANDING SHOWN BELOW ARE FOR CONTRACTS OFFERED UNDER SEPARATE ACCOUNT A WITH THE SAME DAILY ASSET CHARGE OF 1.30%. UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007. - -------------------------------------------------------------------------------- For the years ending December 31, ---------------------- 2006 2007 - -------------------------------------------------------------------------------- Unit value -- $ 95.32 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/Oppenheimer Main Street Small Cap - -------------------------------------------------------------------------------- Unit value $ 102.70 $ 99.59 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 1 - -------------------------------------------------------------------------------- EQ/PIMCO Real Return - -------------------------------------------------------------------------------- Unit value $ 99.43 $ 109.41 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 1 - -------------------------------------------------------------------------------- EQ/Short Duration Bond - -------------------------------------------------------------------------------- Unit value $ 100.49 $ 104.46 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- EQ/Small Company Index - -------------------------------------------------------------------------------- Unit value $ 102.91 $ 99.72 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 2 - -------------------------------------------------------------------------------- EQ/T. Rowe Price Growth Stock - -------------------------------------------------------------------------------- Unit value $ 100.02 $ 105.87 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 1 - -------------------------------------------------------------------------------- EQ/Templeton Growth - -------------------------------------------------------------------------------- Unit value $ 104.20 $ 105.00 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 7 - -------------------------------------------------------------------------------- EQ/UBS Growth and Income - -------------------------------------------------------------------------------- Unit value $ 102.89 $ 102.74 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 1 - -------------------------------------------------------------------------------- EQ/Van Kampen Comstock - -------------------------------------------------------------------------------- Unit value $ 102.92 $ 99.05 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 1 - -------------------------------------------------------------------------------- EQ/Van Kampen Emerging Markets Equity - -------------------------------------------------------------------------------- Unit value $ 113.12 $ 158.58 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 6 - -------------------------------------------------------------------------------- EQ/Van Kampen Mid Cap Growth - -------------------------------------------------------------------------------- Unit value $ 103.78 $ 125.39 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 2 - -------------------------------------------------------------------------------- EQ/Van Kampen Real Estate - -------------------------------------------------------------------------------- Unit value $ -- $ 82.89 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 6 - -------------------------------------------------------------------------------- Multimanager Aggressive Equity - -------------------------------------------------------------------------------- Unit value $ 105.05 $ 115.50 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 2 - -------------------------------------------------------------------------------- Multimanager Core Bond - -------------------------------------------------------------------------------- Unit value $ 100.50 $ 105.41 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 1 - -------------------------------------------------------------------------------- Multimanager Health Care - -------------------------------------------------------------------------------- Unit value $ 100.02 $ 107.57 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 3 - -------------------------------------------------------------------------------- Multimanager High Yield - -------------------------------------------------------------------------------- Unit value $ 102.45 $ 104.30 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 4 - -------------------------------------------------------------------------------- Multimanager International Equity - -------------------------------------------------------------------------------- Unit value $ 105.91 $ 117.54 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 2 - -------------------------------------------------------------------------------- Multimanager Large Cap Core Equity - -------------------------------------------------------------------------------- Appendix I: Condensed financial information A-4 THE UNIT VALUES AND NUMBERS OF UNITS OUTSTANDING SHOWN BELOW ARE FOR CONTRACTS OFFERED UNDER SEPARATE ACCOUNT A WITH THE SAME DAILY ASSET CHARGE OF 1.30%. UNIT VALUES AND NUMBER OF UNITS OUTSTANDING AT YEAR END FOR EACH VARIABLE INVESTMENT OPTION, EXCEPT FOR THOSE OPTIONS OFFERED FOR THE FIRST TIME ON OR AFTER DECEMBER 31, 2007. - -------------------------------------------------------------------------------- For the years ending December 31, ---------------------- 2006 2007 - -------------------------------------------------------------------------------- Unit value $ 102.93 $ 106.68 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- Multimanager Large Cap Growth - -------------------------------------------------------------------------------- Unit value $ 101.24 $ 111.17 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- -- - -------------------------------------------------------------------------------- Multimanager Large Cap Value - -------------------------------------------------------------------------------- Unit value $ 103.97 $ 106.36 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 3 - -------------------------------------------------------------------------------- Multimanager Mid Cap Growth - -------------------------------------------------------------------------------- Unit value $ 103.27 $ 114.07 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 1 - -------------------------------------------------------------------------------- Multimanager Mid Cap Value - -------------------------------------------------------------------------------- Unit value $ 102.93 $ 101.70 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 2 - -------------------------------------------------------------------------------- Multimanager Small Cap Growth - -------------------------------------------------------------------------------- Unit value $ 103.48 $ 105.90 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 2 - -------------------------------------------------------------------------------- Multimanager Small Cap Value - -------------------------------------------------------------------------------- Unit value $ 104.20 $ 92.73 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 1 - -------------------------------------------------------------------------------- Multimanager Technology - -------------------------------------------------------------------------------- Unit value $ 104.68 $ 122.15 - -------------------------------------------------------------------------------- Number of units outstanding (000's) -- 2 - -------------------------------------------------------------------------------- A-5 Appendix I: Condensed financial information Appendix II: Market value adjustment example - -------------------------------------------------------------------------------- The example below shows how the market value adjustment would be determined and how it would be applied to a withdrawal, assuming that $100,000 was allocated on June 15, 2008 to a fixed maturity option with a maturity date of June 15, 2016 (eight years later) at a hypothetical rate to maturity of 7.00% (h), resulting in a maturity value of $171,882 on the maturity date. We further assume that a withdrawal of $50,000 is made four years later, on June 15, 2012.(a) - -------------------------------------------------------------------------------- Hypothetical assumed rate to maturity(j) on June 15, 2012 ---------------------- 5% 9% - -------------------------------------------------------------------------------- As of June 15, 2012 before withdrawal - -------------------------------------------------------------------------------- (1) market adjusted amount(b) $141,389 $121,737 - -------------------------------------------------------------------------------- (2) fixed maturity amount(c) $131,104 $131,104 - -------------------------------------------------------------------------------- (3) market value adjustment: (1) - (2) $ 10,285 $ (9,367) - -------------------------------------------------------------------------------- On June 15, 2012 after $50,000 withdrawal - -------------------------------------------------------------------------------- (4) portion of market value adjustment associated with the withdrawal: (3) x [$50,000/(1)] $ 3,637 $ (3,847) - -------------------------------------------------------------------------------- (5) portion of fixed maturity associated with the withdrawal: $50,000 - (4) $ 46,363 $ 53,847 - -------------------------------------------------------------------------------- (6) market adjusted amount (1) - $50,000 $ 91,389 $ 71,737 - -------------------------------------------------------------------------------- (7) fixed maturity amount: (2) - (5) $ 84,741 $ 77,257 - -------------------------------------------------------------------------------- (8) maturity value (d) $111,099 $101,287 - -------------------------------------------------------------------------------- You should note that in this example, if a withdrawal is made when rates have increased from 7.00% to 9.00% (right column), a portion of a negative market value adjustment is realized. On the other hand, if a withdrawal is made when rates have decreased from 7.00% to 5.00% (left column), a portion of a positive market value adjustment is realized. Notes: (a) Number of days from the withdrawal date to the maturity date = D = 1,461 (b) Market adjusted amount is based on the following calculation: Maturity value $171,882 ________________ ___________________ = where j is either 5% or 9% (1+j)(D/365) (1+j)(1,461/365) (c) Fixed maturity amount is based on the following calculation: Maturity value $171,882 ________________ ___________________ = (1+h)(D/365) (1+0.07)(1,461/365) (d) Maturity value is based on the following calculation: Fixed maturity amount x (1+h)(D/365) = ($84,741 or $77,257) x (1+0.07)(1,461/365)
Appendix II: Market value adjustment example B-1 Appendix III: Enhanced death benefit example - -------------------------------------------------------------------------------- The death benefit under the contracts is equal to the account value or, if greater, the enhanced death benefit if elected. The following illustrates the enhanced death benefit calculation. Assuming $100,000 is allocated to the variable investment options (with no allocation to the EQ/AllianceBernstein Intermediate Government Securities, EQ/Money Market, EQ/Short Duration Bond, the guaranteed interest option or the fixed maturity options, no subsequent contributions, no transfers, no withdrawals and no loans under a TSA contract, the enhanced death benefit for an owner age 55 would be calculated as follows:
- ------------------------------------------------------------------------------------------------- End of contract 6% Roll-Up to age 85 Annual Ratchet to age 85 GWBL year Account value benefit base benefit base benefit base - ------------------------------------------------------------------------------------------------- 1 105,000 106,000 105,000 105,000 - ------------------------------------------------------------------------------------------------- 2 115,500 112,360 115,500 115,500 - ------------------------------------------------------------------------------------------------- 3 129,360 119,102 129,360 129,360 - ------------------------------------------------------------------------------------------------- 4 103,488 126,248 129,360 135,828 - ------------------------------------------------------------------------------------------------- 5 113,837 133,823 129,360 142,296 - ------------------------------------------------------------------------------------------------- 6 127,497 141,852 129,360 148,764 - ------------------------------------------------------------------------------------------------- 7 127,497 150,363 129,360 155,232 - -------------------------------------------------------------------------------------------------
The account values for contract years 1 through 7 are based on hypothetical rates of return of 5.00%, 10.00%, 12.00%, (20.00)%, 10.00%, 12.00% and 0.00%. We are using these rates solely to illustrate how the benefit is determined. The return rates bear no relationship to past or future investment results. ANNUAL RATCHET TO AGE 85 (1) At the end of contract years 1 through 3, the death benefit is the current account value. (2) At the end of contract years 4 through 7, the death benefit is the enhanced death benefit at the end of the prior year since it is equal to or higher than the current account value. GREATER OF 6% ROLL-UP TO AGE 85 OR THE ANNUAL RATCHET TO AGE 85 The enhanced death benefit under this option for each year shown would be the greater of the amounts shown under the 6% Roll-Up to age 85 or the Annual Ratchet to age 85.* * At the end of contract years 4 through 7, the death benefit will be the enhanced death benefit. At the end of contract years 1, 2 and 3, the death benefit will be the current account value. GWBL ENHANCED DEATH BENEFIT This example assumes no withdrawals. The GWBL Enhanced death benefit is a guaranteed minimum death benefit that is only available if you elect the Guaranteed withdrawal benefit for life. If you plan to take withdrawals during any of the first seven contract years, this illustration is of limited usefulness to you. C-1 Appendix III: Enhanced death benefit example Appendix IV: Hypothetical illustrations - -------------------------------------------------------------------------------- ILLUSTRATION OF ACCOUNT VALUES, CASH VALUES AND CERTAIN GUARANTEED MINIMUM BENEFITS The following tables illustrate the changes in account value, cash value and the values of the "greater of 6% Roll-Up to Age 85 or the Annual Ratchet to age 85" guaranteed minimum death benefit and the Guaranteed minimum income benefit under certain hypothetical circumstances for an EQUI-VEST(SM) At Retirement(SM) contract. The table illustrates the operation of a contract based on a male, issue age 60, who makes a single $100,000 contribution and takes no withdrawals. The amounts shown are for the beginning of each contract year and assume that all of the account value is invested in portfolios that achieve investment returns at constant gross annual rates of 0% and 6% (i.e., before any investment management fees, 12b-1 fees or other expenses are deducted from the underlying portfolio assets). After the deduction of the arithmetic average of the investment management fees, 12b-1 fees and other expenses of all of the underlying portfolios (as described below), the corresponding net annual rates of return would be (2.53%), 3.47% for the EQUI-VEST(SM) At Retirement(SM) contract, at the 0% and 6% gross annual rates, respectively. These net annual rates of return reflect the trust and separate account level charges but they do not reflect the charges we deduct from your account value annually for the optional Guaranteed minimum death benefit and the Guaranteed minimum income benefit features. If the net annual rates of return did reflect these charges, the net annual rates of return would be lower; however, the values shown in the following tables reflect the following contract charges: the greater of 6% Roll-Up to age 85 and the Annual Ratchet to age 85 Guaranteed minimum death benefit charge, the Guaranteed minimum income benefit charge. The values shown under "Lifetime annual guaranteed minimum income benefit" reflect the lifetime income that would be guaranteed if the Guaranteed minimum income benefit is selected at that contract anniversary. An "N/A" in these columns indicates that the benefit is not exercisable in that year. A "0" under any of the death benefit and/or "Lifetime annual guaranteed minimum income benefit" columns indicates that the contract has terminated due to insufficient account value. However, the Guaranteed minimum income benefit has been automatically exercised and the owner is receiving lifetime payments. With respect to fees and expenses deducted from assets of the underlying portfolios, the amounts shown in all tables reflect (1) investment management fees equivalent to an effective annual rate of 0.69%, and (2) an assumed average asset charge for all other expenses of the underlying portfolios equivalent to an effective annual rate of 0.29% and (3) 12b-1 fees equivalent to an effective annual rate of 0.25%. These rates are the arithmetic average for all portfolios that are available as investment options. In other words, they are based on the hypothetical assumption that account values are allocated equally among the variable investment options. The actual rates associated with any contract will vary depending upon the actual allocation of contract values among the investment options. These rates do not reflect expense limitation arrangements in effect with respect to certain of the underlying portfolios as described in the footnotes to the fee table for the underlying portfolios in "Fee table" earlier in this prospectus. With these arrangements, the charges shown above would be lower. This would result in higher values than those shown in the following tables. Because your circumstances will no doubt differ from those in the illustrations that follow, values under your contract will differ, in most cases substantially. Upon request, we will furnish you with a personalized illustration. Appendix IV: Hypothetical illustrations D-1 Variable deferred annuity EQUI-VEST(SM) At Retirement(SM) $100,000 Single contribution and no withdrawals Male, issue age 60 Benefits: Greater of 6% Roll-Up to age 85 or the Annual Ratchet to age 85 Guaranteed minimum death benefit Guaranteed minimum income benefit
- ------------------------------------------------------------------------------------------------------------------------------------ Greater of 6% Roll- Up to age 85 or the Lifetime Annual Annual Ratchet to Guaranteed Minimum Income Benefit age 85 Guaranteed ---------------------------------- Minimum Death Guaranteed Hypothetical Account Value Cash Value Benefit Total Death Benefit Income Income Contract ------------------- ------------------- ------------------- ------------------- ----------------- ---------------- Age Year 0% 6% 0% 6% 0% 6% 0% 6% 0% 6% 0% 6% - ----- --------- --------- --------- --------- --------- --------- --------- --------- --------- -------- -------- -------- ------- 60 1 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 N/A N/A N/A N/A 61 2 96,145 102,145 96,145 102,145 106,000 106,000 106,000 106,000 N/A N/A N/A N/A 62 3 92,308 104,285 92,308 104,285 112,360 112,360 112,360 112,360 N/A N/A N/A N/A 63 4 88,484 106,415 88,484 106,415 119,102 119,102 119,102 119,102 N/A N/A N/A N/A 64 5 84,667 108,529 84,667 108,529 126,248 126,248 126,248 126,248 N/A N/A N/A N/A 65 6 80,852 110,623 80,852 110,623 133,823 133,823 133,823 133,823 N/A N/A N/A N/A 66 7 77,034 112,688 77,034 112,688 141,852 141,852 141,852 141,852 N/A N/A N/A N/A 67 8 73,205 114,719 73,205 114,719 150,363 150,363 150,363 150,363 N/A N/A N/A N/A 68 9 69,361 116,707 69,361 116,707 159,385 159,385 159,385 159,385 N/A N/A N/A N/A 69 10 65,494 118,645 65,494 118,645 168,948 168,948 168,948 168,948 N/A N/A N/A N/A 74 15 45,586 127,237 45,586 127,237 226,090 226,090 226,090 226,090 14,266 14,266 14,266 14,266 79 20 24,002 132,870 24,002 132,870 302,560 302,560 302,560 302,560 20,393 20,393 20,393 20,393 84 25 0 133,453 0 133,453 0 404,893 0 404,893 34,821 34,821 34,821 34,821 89 30 0 141,273 0 141,273 0 429,187 0 429,187 N/A N/A N/A N/A 94 35 0 153,744 0 153,744 0 429,187 0 429,187 N/A N/A N/A N/A 95 36 0 156,504 0 156,504 0 429,187 0 429,187 N/A N/A N/A N/A - ------------------------------------------------------------------------------------------------------------------------------------
The hypothetical investment results are illustrative only and should not be deemed a representation of past or future investment results. Actual investment results may be more or less than those shown and will depend on a number of factors, including investment allocations made by the owner. The account value, cash value and guaranteed benefits for a contract would be different from the ones shown if the actual gross rate of investment return averaged 0% or 6% over a period of years, but also fluctuated above or below the average for individual contract years. We can make no representation that these hypothetical investment results can be achieved for any one year or continued over any period of time. In fact, for any given period of time, the investment results could be negative. D-2 Appendix IV: Hypothetical illustrations Appendix V: State contract availability and/or variations of certain features and benefits - -------------------------------------------------------------------------------- The following information is a summary of the states where the EQUI-VEST(SM) At Retirement(SM) contract or certain features and/or benefits are either not available as of the date of this prospectus or vary from the contract's features and benefits as previously described in this prospectus. STATES WHERE CERTAIN EQUI-VEST(SM) AT RETIREMENT(SM) FEATURES AND/OR BENEFITS ARE NOT AVAILABLE OR HAS CERTAIN VARIATIONS TO FEATURES AND/OR BENEFITS:
- ------------------------------------------------------------------------------------------------------------------------------------ State Features and Benefits Availability or Variation - ------------------------------------------------------------------------------------------------------------------------------------ CALIFORNIA See "Contract features and benefits"--"Your right to cancel If you reside in the state of California and you are age 60 within a certain number of days" and older at the time the contract is issued, you may return your variable annuity contract within 30 days from the date that you receive it and receive a refund as described below. If you allocate your entire initial contribution to the EQ/Money Market option (and/or guaranteed interest option), the amount of your refund will be equal to your contribution less interest, unless you make a transfer, in which case the amount of your refund will be equal to your account value on the date we receive your request to cancel at our processing office. This amount could be less than your initial contribution. If you allocate any portion of your initial contribution to the variable investment options (other than the EQ/Money Market option) and/or fixed maturity options, your refund will be equal to your account value on the date we receive your request to cancel at our processing office. - ------------------------------------------------------------------------------------------------------------------------------------ DELAWARE See "Contract features and benefits"--"Fixed maturity Fixed maturity options are not available. options" - ------------------------------------------------------------------------------------------------------------------------------------ KANSAS See "Payment of death benefit"--"Your beneficiary and The default beneficiary must be the owner's estate. payment benefit" - ------------------------------------------------------------------------------------------------------------------------------------ NORTH DAKOTA See "Your right to cancel within a certain number of days" To exercise this cancellation right you must mail the con- tract, with a signed letter of instructions electing this right, to our processing office within 20 days after you receive it. - ------------------------------------------------------------------------------------------------------------------------------------ PENNSYLVANIA See "Contract features and benefits"--"Fixed maturity Fixed maturity options are not available. options" Taking a loan in excess of the Internal Revenue See "Accessing your money"-- "Loans under TSA con- Code limits may result in adverse tax tracts" consequences. Please consult your tax adviser before taking a loan that exceeds the Internal Revenue Code limits. - ------------------------------------------------------------------------------------------------------------------------------------
Appendix V: State contract availability and/or variations of certain features and benefits E-1
- ------------------------------------------------------------------------------------------------------------------------------------ State Features and Benefits Availability or Variation - ------------------------------------------------------------------------------------------------------------------------------------ PUERTO RICO See "Taxation of nonqualified annuities" under "Tax infor- Income from NQ contracts we issue is U.S. source. A mation." Puerto Rico resident is subject to U.S. taxation on such U.S. source income. Only Puerto Rico source income of Puerto Rico residents is excludable from U.S. taxation. Income from NQ contracts is also subject to Puerto Rico tax. The calculation of the taxable portion of amounts distributed from a con- tract may differ in the two jurisdictions. There- fore, you might have to file both U.S. and Puerto Rico tax returns, showing different amounts of income from the contract for each tax return. Puerto Rico generally provides a credit against Puerto Rico tax for U.S. tax paid. Depending on your personal situation and the timing of the different tax liabilities, you may not be able to take full advantage of this credit. - ------------------------------------------------------------------------------------------------------------------------------------ WASHINGTON See "Contract features and benefits" o "Guaranteed interest option" o The guaranteed interest option is not available. o "Fixed maturity options" o Fixed maturity options are not available. o "Guaranteed minimum death benefit and Guaranteed o For the Greater of the Annual Ratchet to age 85 or minimum income benefit base" -- 6% Roll-Up to age Roll-Up to age 85 death benefit, the roll up is 4% 85 (used for the Greater of the 6% Roll-Up to age 85 or (instead of 6%). the Annual Ratchet to age 85 enhanced death benefit AND for the Guaranteed minimum income benefit" o "Guaranteed minimum death benefit/Guaranteed mini- o The death benefit reset may only occur if the mum income benefit roll-up benefit base reset." account value on the contract anniversary is greater than the 6% roll to age 85 GMIB benefit base. Both roll-up benefit bases get reset to the account value. The 4% roll-up continues on to age 85 on the reset death benefit. See "Accessing your money"--"Your annuity payout o The Income Manager(SM) payout annuity is not options," "Income Manager(SM) payout options" available. - ------------------------------------------------------------------------------------------------------------------------------------
E-2 Appendix V: State contract availability and/or variations of certain features and benefits Statement of additional information - -------------------------------------------------------------------------------- TABLE OF CONTENTS Page Who is AXA Equitable? 2 Calculating unit values 2 Custodian and independent registered public accounting firm 2 Distribution of the contracts 2 Financial statements 2 How to obtain an EQUI-VEST(SM) At Retirement(SM) Statement of Additional Information for Separate Account A Call (800) 628-6673 or send this request form to: EQUI-VEST(SM) At Retirement(SM) P.O. Box 4956 Syracuse, NY 13221-4956 ................................................................................ Please send me an EQUI-VEST(SM) At Retirement(SM) SAI for Separate Account A dated May 1, 2008. - -------------------------------------------------------------------------------- Name - -------------------------------------------------------------------------------- Address - -------------------------------------------------------------------------------- City State Zip X02027 EQUI-VEST(SM) At Retirement(SM) AXA Equitable Life Insurance Company SUPPLEMENT DATED JUNE 1, 2008 TO THE CURRENT PROSPECTUSES FOR: EQUI-VEST(R) EQUI-VEST(R) Vantage(SM) EQUI-VEST(R) TSA Advantage(SM) EQUI-VEST(R) At Retirement(SM) EQUI-VEST(R) Strategies EQUI-VEST(R) Employer Sponsored EQUI-VEST(R) Express(SM) Retirement Programs - -------------------------------------------------------------------------------- This Supplement modifies certain information in the above-referenced prospectuses, supplements to prospectuses and statements of additional information, (together the "Prospectuses"). You should read this Supplement in conjunction with the Prospectus and retain it for future reference. Unless otherwise indicated, all other information included in the Prospectus remains unchanged. The terms we use in this Supplement have the same meaning as in the Prospectus. We will send you another copy of any prospectus or supplement without charge upon request. Please contact the customer service center referenced in your prospectus. SYSTEMATIC WITHDRAWALS For all prospectuses except EQUI-VEST(R) Express(SM), the following replaces the third paragraph under "Systematic withdrawals" in "Accessing your money" in your Prospectus: If you choose to have a fixed dollar amount taken from the variable investment options and the guaranteed interest option, you may elect to have the amount of the withdrawal subtracted from your account value in one of three ways: (1) pro rata from all the variable investment options, including the guaranteed interest option, in which you have value (without using up your total value in those options); or (2) pro rata from all the variable investment options, including the guaranteed interest option, in which you have value (until your total value in those options is used up); or (3) you may specify a dollar amount from only one variable investment option or the guaranteed interest option. If you choose this option and the value in your selected investment option drops below the requested amount, the requested amount will be taken on a pro rata basis from all of the investment options in which you have value (until your total value in those options is used up). For contracts that offer fixed maturity options: If you are invested in fixed maturity options, you may not elect option (1) or (2). ---------------- For EQUI-VEST(R) Express(SM), the following replaces the second paragraph under "Systematic withdrawals" in "Accessing your money" in your Prospectus: You may withdraw a fixed-dollar amount from the variable investment options. You do not have to maintain a minimum amount. You may elect to have the amount of the withdrawal subtracted from your account value in one of three ways: (1) pro rata from all the variable investment options in which you have value (without using up your total value in those options); or (2) pro rata from all the variable investment options in which you have value (until your total value in those options is used up); or (3) you may specify a dollar amount from only one variable investment option. If you choose this option and the value in your selected variable investment option drops below the requested amount, the requested amount will be taken on a pro rata basis from all of the variable investment options in which you have value (until your total value in those options is used up). For contracts that offer fixed maturity options: If you are invested in fixed maturity options, you may not elect option (1) or (2). Copyright 2008 AXA Equitable Life Insurance Company. All rights reserved. EQUI-VEST(R) is issued by and is a registered service mark of AXA Equitable Life Insurance Company. EQUI-VEST(R) At Retirement(SM), EQUI-VEST(R) Express(SM), EQUI-VEST(R) TSA Advantage(SM) and EQUI-VEST(R) Vantage(SM) are service marks of AXA Equitable Life Insurance Company. AXA Equitable Life Insurance Company 1290 Avenue of the Americas, New York, NY 10104 212-554-1234 NB/IF (SAR) x02131 Form # 888-523 (5/08) 140586 (5/08) AXA Equitable Life Insurance Company SUPPLEMENT DATED JULY 21, 2008 TO THE CURRENT PROSPECTUSES FOR: EQUI-VEST(R) EQUI-VEST(R) Employer Sponsored EQUI-VEST(R) Strategies Retirement Programs EQUI-VEST(R) Express(SM) Momentum(SM) EQUI-VEST(R) At Retirement(SM) Momentum Plus(SM) - -------------------------------------------------------------------------------- This Supplement modifies certain information in the above-referenced prospectuses, supplements to prospectuses and statements of additional information, (together the "Prospectuses"). You should read this Supplement in conjunction with the Prospectuses and retain it for future reference. Unless otherwise indicated, all other information included in the Prospectuses remains unchanged. The terms we use in this Supplement have the same meaning as in the Prospectuses. We will send you another copy of any prospectus or supplement without charge upon request. Please contact the customer service center referenced in your prospectus. PORTFOLIO SUB-ADVISER CHANGES -- AUGUST 1, 2008 Effective on or about August 1, 2008, AXA Equitable Life Insurance Company ("AXA Equitable"), as the Investment Manager of AXA Premier VIP Trust (the "Trust") and with the approval of the Trust's Board of Trustees, will replace certain Sub-Adviser(s) to allocated portions of certain portfolios of the Trust. The following information replaces the information for the following portfolios under "Portfolios of the Trusts" in "Contract features and benefits" in the Prospectuses.
- ----------------------------------------------------------------------------------------------------- AXA Premier VIP Trust Investment Manager (or Sub-Adviser(s), as Portfolio Name Objective applicable) - ----------------------------------------------------------------------------------------------------- MULTIMANAGER LARGE CAP Long-term growth of capital. o Goodman & Co. NY Ltd. GROWTH o Westfield Capital Management Company, L.P. o T. Rowe Price Associates, Inc. - ----------------------------------------------------------------------------------------------------- MULTIMANAGER MID CAP Long-term growth of capital. o AllianceBernstein L.P. GROWTH o Franklin Advisers, Inc. o Wellington Management Company, LLP ----------------------------------------------------------------------------------------------------- MULTIMANAGER SMALL CAP Long-term growth of capital. o Franklin Advisory Services, LLC VALUE o Lazard Asset Management LLC o Pacific Global Investment Management Company* - -----------------------------------------------------------------------------------------------------
* Pacific Global Investment Management Company became a Sub-Adviser to the Multimanager Small Cap Value Portfolio as of July 14, 2008. Copyright 2008 AXA Equitable Life Insurance Company. All rights reserved. EQUI-VEST(R) is issued by and is a registered service mark of AXA Equitable Life Insurance Company (AXA Equitable). EQUI-VEST(R) At Retirement(SM), EQUI-VEST(R) Express(SM), Momentum(SM) and Momentum Plus(SM) are service marks of AXA Equitable. AXA Equitable Life Insurance Company 1290 Avenue of the Americas, New York, NY 10104 212-554-1234 NB/IF (SAR) x02162 Form # 888-07 (7/08) 140599 (7/08) AXA Equitable Life Insurance Company SUPPLEMENT DATED AUGUST 15, 2008 TO THE CURRENT PROSPECTUSES FOR: o EQUI-VEST(R) (Series 100-500) o EQUI-VEST(R) Express(SM) (Series 700) o EQUI-VEST(R) Employer Sponsored o EQUI-VEST(R) (Series 800) o EQUI-VEST(R) Express(SM) (Series 701) Retirement Programs o EQUI-VEST(R) (Series 801) o EQUI-VEST(R) Strategies
- -------------------------------------------------------------------------------- This Supplement modifies certain information in the above-referenced Prospectuses and Supplements to Prospectuses and Statements of Additional Information as previously supplemented (the "Prospectuses"). You should read this Supplement in conjunction with the Prospectuses and retain it for future reference. Unless otherwise indicated, all other information included in the Prospectuses remains unchanged. The terms and section headings we use in this Supplement have the same meaning as in the Prospectuses. We will send you another copy of any prospectus or supplement without charge upon request. Please contact the customer service group referenced in your prospectus. CHANGE OF PROCESSING OFFICE ADDRESS In the section to the Prospectus entitled "How to reach us" under "Who is AXA Equitable?," the second paragraph is deleted in its entirety and replaced with the following: Your correspondence will be picked up at the mailing address noted above and delivered to our processing office. Your correspondence, however, is not considered received by us until it is received at our processing office. Where this Prospectus refers to the day when we receive a contribution, request, election, notice, transfer or any other transaction request from you, we mean the day on which that item (or the last thing necessary for us to process that item) arrives in complete and proper form at our processing office or via the appropriate telephone or fax number if the item is a type we accept by those means. There are two main exceptions: if the item arrives (1) on a day that is not a business day or (2) after the close of a business day, then, in each case, we are deemed to have received that item on the next business day. Our processing office is: 100 Madison Street, Suite 1000, Syracuse, New York 13202. EQUI-VEST Express(SM) is a service mark of AXA Equitable Life Insurance Company. EQUI-VEST(R) is issued by and is a registered servicemark of AXA Equitable Life Insurance Company. (Copyright) 2008 AXA Equitable Life Insurance Company. All rights reserved. 1290 Avenue of the Americas New York, NY 10104 212-554-1234 SAR/Inforce Cat. No. 140606 (8/08) Form #888-524 x02179 AXA Equitable Life Insurance Company SUPPLEMENT DATED AUGUST 15, 2008 TO THE CURRENT PROSPECTUSES FOR:
EQUI-VEST(R) EQUI-VEST(R) TSA Advantage(SM) Momentum(SM) EQUI-VEST(R) Strategies EQUI-VEST(R) Vantage(SM) Momentum Plus(SM) EQUI-VEST(R) Express(SM) EQUI-VEST(R) Employer Sponsored Variable Immediate Annuity EQUI-VEST(R) At Retirement(SM) Retirement Programs
- -------------------------------------------------------------------------------- This Supplement updates certain information in the most recent prospectus and statement of additional information you received for any of the products listed above, and in any supplements to that prospectus and statement of additional information (collectively, the "Prospectuses"). You should read this Supplement in conjunction with the Prospectuses and retain it for future reference. Unless otherwise indicated, all other information included in the Prospectuses remains unchanged. The terms and section headings we use in this Supplement have the same meaning as in the Prospectuses. We will send you another copy of any prospectus or supplement without charge upon request. Please contact the customer service group referenced in your prospectus. The Portfolios discussed below are not available in all contracts. As applicable to your contract, please note the following changes: CHANGES TO EXPENSE LIMITATION ARRANGEMENTS FOR CERTAIN PORTFOLIOS OF THE EQ ADVISORS TRUST The Board of Trustees (the "Board") of EQ Advisors Trust (the "Trust") recently approved revisions to the expense limitation arrangements between the Trust and AXA Equitable Life Insurance Company ("AXA Equitable"). In particular, and as more fully described below, the Board approved (1) the elimination of the expense limitation arrangements for certain portfolios of the Trust because each of these portfolios currently is operating under its respective expense limit, and (2) revised expense limitation arrangements for certain other portfolios of the Trust. ELIMINATION OF THE EXPENSE LIMITATION ARRANGEMENTS FOR CERTAIN PORTFOLIOS OF THE TRUST Effective on or about October 1, 2008, the expense limitation arrangements for the following Portfolios of the Trust are eliminated: EQ/BlackRock Basic Value Equity Portfolio, EQ/Davis New York Venture Portfolio, EQ/Evergreen International Bond Portfolio, EQ/GAMCO Mergers and Acquisitions Portfolio, EQ/GAMCO Small Company Value Portfolio, EQ/International Growth Portfolio, EQ/JPMorgan Core Bond Portfolio, EQ/Long Term Bond Portfolio, EQ/Short Duration Bond Portfolio, EQ/Small Company Index Portfolio and EQ/Van Kampen Emerging Markets Equity Portfolio. AMENDMENTS TO THE EXPENSE LIMITATION ARRANGEMENTS FOR CERTAIN PORTFOLIOS OF THE TRUST The expense limitation arrangements for the following Portfolios of the Trust are amended: EQ/AllianceBernstein International Portfolio, EQ/AllianceBernstein Value Portfolio, EQ/BlackRock International Value Portfolio, EQ/Calvert Socially Responsible Portfolio, EQ/Capital Guardian Research Portfolio, EQ/Caywood-Scholl High Yield Bond Portfolio, EQ/FI Mid Cap Portfolio, EQ/JPMorgan Value Opportunities Portfolio, EQ/Large Cap Core PLUS Portfolio, EQ/Large Cap Growth PLUS Portfolio, EQ/Mid Cap Value PLUS Portfolio, EQ/Montag & Caldwell Growth Portfolio, EQ/PIMCO Real Return Portfolio, EQ/T. Rowe Price Growth Stock Portfolio and EQ/Van Kampen Mid Cap Growth Portfolio. Such arrangements are effective on or about October 1, 2008, with the exception of the arrangement for the EQ/Calvert Socially Responsible Portfolio, which is effective November 3, 2008. FEE TABLE The following is added under "Portfolio operating expenses expressed as an annual percentage of daily net assets", replacing the information shown for the Portfolios listed above: This table shows the fees and expenses for 2007 as an annual percentage of each Portfolio's daily average net assets.
- ------------------------------------------------------------------------------------------------------------------------------------ Acquired Fund Fees Total Fee Net and Annual Waivers Annual Expenses Expenses and/or Expenses (Under- (Before Expense (After Management 12b-1 Other lying Expense Reimburse- Expense Portfolio Name Fees(1) Fees(2) Expenses(3) Portfolios)(4) Limitations) ments(5) Limitations) - ------------------------------------------------------------------------------------------------------------------------------------ EQ Advisors Trust: - ------------------------------------------------------------------------------------------------------------------------------------ EQ/AllianceBernstein International(6) 0.71% 0.25% 0.18% -- 1.14% 0.00% 1.14% EQ/AllianceBernstein Value(6) 0.59% 0.25% 0.12% -- 0.96% 0.00% 0.96% EQ/BlackRock Basic Value Equity 0.55% 0.25% 0.13% -- 0.93% -- 0.93% EQ/BlackRock International Value 0.81% 0.25% 0.19% -- 1.25% 0.00% 1.25% - ------------------------------------------------------------------------------------------------------------------------------------
888-526 (8/08) 140612 (8/08) NB/IF (SAR) x02193
- ------------------------------------------------------------------------------------------------------------------------------------ Acquired Fund Fees Total Fee Net and Annual Waivers Annual Expenses Expenses and/or Expenses (Under- (Before Expense (After Management 12b-1 Other lying Expense Reimburse- Expense Portfolio Name Fees(1) Fees(2) Expenses(3) Portfolios)(4) Limitations) ments(5) Limitations) - ------------------------------------------------------------------------------------------------------------------------------------ EQ/Calvert Socially Responsible 0.65% 0.25% 0.23% -- 1.13% 0.00% 1.13% EQ/Capital Guardian Research 0.63% 0.25% 0.13% -- 1.01% (0.04)% 0.97% EQ/Caywood-Scholl High Yield Bond 0.60% 0.25% 0.16% -- 1.01% 0.00% 1.01% EQ/Davis New York Venture 0.85% 0.25% 0.18% -- 1.28% -- 1.28% EQ/Evergreen International Bond 0.70% 0.25% 0.17% -- 1.12% -- 1.12% EQ/FI Mid Cap 0.68% 0.25% 0.13% -- 1.06% 0.00% 1.06% EQ/GAMCO Mergers and Acquisitions 0.90% 0.25% 0.19% -- 1.34% -- 1.34% EQ/GAMCO Small Company Value 0.76% 0.25% 0.12% -- 1.13% -- 1.13% EQ/International Growth 0.85% 0.25% 0.27% -- 1.37% -- 1.37% EQ/JPMorgan Core Bond 0.43% 0.25% 0.13% -- 0.81% -- 0.81% EQ/JPMorgan Value Opportunities 0.60% 0.25% 0.14% -- 0.99% 0.00% 0.99% EQ/Large Cap Core PLUS 0.50% 0.25% 0.25% 0.02% 1.02% 0.00% 1.02% EQ/Large Cap Growth PLUS 0.50% 0.25% 0.24% 0.02% 1.01% 0.00% 1.01% EQ/Long Term Bond 0.40% 0.25% 0.13% -- 0.78% -- 0.78% EQ/Mid Cap Value PLUS 0.55% 0.25% 0.24% 0.02% 1.06% 0.00% 1.06% EQ/Montag & Caldwell Growth 0.75% 0.25% 0.15% -- 1.15% 0.00% 1.15% EQ/PIMCO Real Return 0.55% 0.25% 0.14% -- 0.94% 0.00% 0.94% EQ/Short Duration Bond 0.43% 0.25% 0.15% -- 0.83% -- 0.83% EQ/Small Company Index 0.25% 0.25% 0.14% -- 0.64% -- 0.64% EQ/T. Rowe Price Growth Stock 0.79% 0.25% 0.14% -- 1.18% 0.00% 1.18% EQ/Van Kampen Emerging Markets Equity 1.11% 0.25% 0.28% -- 1.64% -- 1.64% EQ/Van Kampen Mid Cap Growth 0.70% 0.25% 0.15% -- 1.10% 0.00% 1.10% - ------------------------------------------------------------------------------------------------------------------------------------
Notes: (1) The management fees for each Portfolio cannot be increased without a vote of that Portfolio's shareholders. See footnote (5) for any expense limitation agreement information. (2) Portfolio shares are all subject to fees imposed under the distribution plans (the "Rule 12b-1 Plan") adopted by the Trust pursuant to Rule 12b-1 under the Investment Company Act of 1940. (3) Other expenses shown are those incurred in 2007. The amounts shown as "Other Expenses" will fluctuate from year to year depending on actual expenses. See footnote (5) for any expense limitation agreement information. (4) Each of these variable investment options invests in a corresponding Portfolio of unaffiliated investment companies. Each Portfolio, in turn, invests in shares of unaffiliated portfolios ("the underlying portfolios"). Amounts shown reflect each Portfolio's pro rata share of the fees and expenses of the underlying portfolios in which it invests. A "--" indicates that the listed Portfolio does not invest in underlying portfolios. (5) The amounts shown reflect any fee waivers and/or expense reimbursements that applied to each Portfolio. A "--" indicates that there is no expense limitation in effect. "0.00%" indicates that the expense limitation arrangement did not result in a fee waiver reimbursement. AXA Equitable, the investment manager of EQ Advisors Trust, has entered into expense limitation agreements with respect to certain Portfolios, which are effective through April 30, 2009 (unless the Board of Trustees, including a majority of the independent directors, of EQ Advisors Trust consents to an earlier revision or termination of this arrangement). Under these agreements, AXA Equitable has agreed to waive or limit its fees and assume other expenses of certain Portfolios, if necessary, in an amount that limits each affected Portfolio's Total Annual Expenses (exclusive of interest, taxes, brokerage commissions, capitalized expenditures, expenses of the underlying portfolios in which the Portfolio invests and extraordinary expenses) to not more than the amounts specified in the agreements. Therefore, each Portfolio may at a later date make a reimbursement to AXA Equitable for any of the management fees waived or limited and other expenses assumed and paid by AXA Equitable pursuant to the expense limitation agreements provided that the Portfolio's current annual operating expenses do not exceed the operating expense limit determined for such Portfolio. See the Prospectus for EQ Advisors Trust for more information about the arrangements. In addition, a portion of the brokerage commissions of certain portfolios of EQ Advisors Trust is used to reduce the applicable Portfolio's expenses. If the above table reflected both the expense limitation arrangements plus the portion of the brokerage commissions used to reduce Portfolio expenses, the net expenses would be as shown in the table below: ---------------------------------------------------------- Portfolio Name ---------------------------------------------------------- EQ/AllianceBernstein Value 0.88% ---------------------------------------------------------- EQ/Large Cap Core PLUS 0.88% ---------------------------------------------------------- EQ/Large Cap Growth PLUS 0.86% ---------------------------------------------------------- EQ/Mid Cap Value PLUS 0.85% ---------------------------------------------------------- EQ/Montag & Caldwell Growth 1.13% ---------------------------------------------------------- EQ/T. Rowe Price Growth Stock 0.90% ---------------------------------------------------------- EQ/Van Kampen Mid Cap Growth 1.09% ---------------------------------------------------------- (6) The table reflects the Portfolio expenses for the IB share class of EQ Advisors Trust for these Portfolios. If you own Momentum(SM), Momentum Plus(SM), Variable Immediate Annuity, EQUI-VEST(R) Strategies or certain EQUI-VEST(R) or EQUI-VEST(R) Employer-Sponsored Reitrement Programs, the 12b-1 fee listed in the table is not applicable to these Portfolios and your total Annual Expenses (Before Expense Limitations) and Net Annual Expenses (After Expense Limitations) are lower. Please see the Prospectus for more details. EQUI-VEST(R) is issued by and is a registered service mark of AXA Equitable Life Insurance Company (AXA Equitable). EQUI-VEST(R) At Retirement(SM), EQUI-VEST(R) Express(SM), EQUI-VEST(R) TSA Advantage(SM), EQUI-VEST(R) Vantage(SM), Momentum(SM) and Momentum Plus(SM) are service marks of AXA Equitable. Co-distributed by affiliates AXA Advisors, LLC and/or AXA Distributors, LLC, 1290 Avenue of the Americas, New York, NY 10104. Copyright 2008 AXA Equitable Life Insurance Company. All rights reserved. AXA Equitable Life Insurance Company 1290 Avenue of the Americas New York, NY 10104 212-554-1234 2 AXA Equitable Life Insurance Company SUPPLEMENT DATED AUGUST 22, 2008 TO THE CURRENT PROSPECTUS FOR EQUI-VEST(R) EMPLOYER SPONSORED RETIREMENT PROGRAMS - -------------------------------------------------------------------------------- This Supplement modifies certain information in the above-referenced prospectus, supplements to prospectus and statement of additional information, (together the "Prospectus"). You should read this Supplement in conjunction with the Prospectus and retain it for future reference. Unless otherwise indicated, all other information included in the Prospectus remains unchanged. The terms we use in this Supplement have the same meaning as in the Prospectus. We will send you another copy of any prospectus or supplement without charge upon request. Please contact the customer service center referenced in your Prospectus. The following information is added to the state table in "Appendix IV: State contract availability and/or variations of certain features and benefits" of the Prospectus.
- ------------------------------------------------------------------------------------------------------------------------------------ State Features and benefits Contract type/Series/Effective Date Availability or variation - ------------------------------------------------------------------------------------------------------------------------------------ Utah See "Withdrawal charge" The change applies to SIMPLE IRA The amount of the withdrawal charge we deduct is in "Fees and charges" contract series 400 issued on or equal to 6% of contributions withdrawn that exceed under "EQUI-VEST(SM) after November 27, 2006. the 10% free withdrawal amount, that were made in employer-sponsored the current and four prior contracts years and 5% of retirement programs at a This change applies to SEP and contributions withdrawn that were made in the glance -- key features;" SARSEP contract series 300 issued contract year immediately preceding the four prior and "Withdrawal charge on or after August 25, 2008. contract years. for series 300 and 400 contracts" under "Charges and expenses" - ------------------------------------------------------------------------------------------------------------------------------------
EQUI-VEST(R) is a registered service mark of AXA Equitable Life Insurance Company (AXA Equitable). Co-distributed by affiliates AXA Advisors, LLC and AXA Distributors, LLC, 1290 Avenue of the Americas, New York, NY 10104. Copyright 2008. All rights reserved. AXA Equitable Life Insurance Company 1290 Avenue of the Americas New York, NY 10104 212-554-1234 888-525 (8/08) 140607 (8/08) EV-Inst-300/NB x02194 PART II INFORMATION NOT REQUIRED IN PROSPECTUS ITEM 14. OTHER EXPENSES OF ISSUANCE AND DISTRIBUTION ESTIMATED ITEM OF EXPENSE EXPENSE - --------------------------------------------------------------- ---------- Registration fees $19,650.00 Federal taxes N/A State taxes and fees (based on 50 state average) N/A Trustees' fees N/A Transfer agents' fees N/A Printing and filing fees $50,000* Legal fees N/A Accounting fees N/A Audit fees $20,000* Engineering fees N/A Directors and officers insurance premium paid by Registrant N/A - ------------- * Estimated expense. Item 15. Indemnification of Directors and Officers ----------------------------------------- AXA Equitable By-Laws provide, in Article VII, as follows: 7.4 Indemnification of Directors, Officers and Employees. ----------------------------------------------------- (a) To the extent permitted by the law of the State of New York and subject to all applicable requirements thereof: (i) any person made or threatened to be made a party to any action or proceeding, whether civil or criminal, by reason of the fact that he or she, or his or her testator or intestate, is or was a director, officer or employee of the Company shall be indemnified by the Company; (ii) any person made or threatened to be made a party to any action or proceeding, whether civil or criminal, by reason of the fact that he or she, or his or her testator or intestate serves or served any other organization in any capacity at the request of the Company may be indemnified by the Company; and (iii) the related expenses of any such person in any of said categories may be advanced by the Company (b) To the extent permitted by the law of the State of New York, the Company may provide for further indemnification or advancement of expenses by resolution of shareholders of the Company or the Board of Directors, by amendment of these By-Laws, or by agreement. {Business Corporation Law ss.ss. 721 -726; Insurance Law ss.1216} The directors and officers of AXA Equitable are insured under policies issued by Arch Insurance Company, X. L. Insurance Company, ACE Insurance Company, Endurance Insurance Company, U.S. Specialty Insurance, and St Paul Travelers. The annual limit on such policies is $150 million, and the policies insure the officers and directors against certain liabilities arising out of their conduct in such capacities. Item 16. Exhibits -------- Exhibits No. ------------ (1) (a) Distribution and Servicing Agreement among Equico Securities, Inc. (now AXA Advisors, LLC), Equitable and Equitable Variable Life Insurance Company, dated as of May 1, 1994, incorporated by reference to Exhibit 3.(c) to Registration Statement File No. 2-30070, previously filed on February 14, 1995, refiled electronically on July 10, 1998. II-1 (b) Sales Agreement dated as of January 1, 1995 by and among Equico Securities, Inc. (now AXA Advisors, LLC), Equitable, Separate Account A, Separate Account No. 301 and Separate Account No. 51, previously filed as Exhibit 1(c) to this Registration Statement No. 33-89510 on April 24, 1995, incorporated by reference to Exhibit 3(e) to Registration Statement File No. 2-30070, filed electronically July 10, 1998. (c)(i) Participation Agreement among EQ Advisors Trust, The Equitable Life Assurance Society of the United States, Equitable Distributors, Inc. and EQ Financial Consultants, Inc. (now AXA Advisors, LLC), dated as of the 14th day of April 1997, incorporated by reference to the Registration Statement of EQ Advisors Trust (File No. 333-17217) on Form N-1A, filed August 28, 1997. (c)(ii) Form of Participation Agreement among EQ Advisors Trust, Equitable, AXA Distributors LLC and AXA Advisors, LLC, incorporated herein by reference to Exhibit 23.(h)(4)(ix) to Post-Effective Amendment No. 27 to Registration Statement on Form N-1A to the Registration Statement of EQ Advisors Trust on Form N-1A (File Nos. 333-17217 and 811-07953), filed on January 15, 2004. (d) Distribution Agreement for services by The Equitable Life Assurance Society of the United States to AXA Network, LLC and its subsidiaries dated January 1, 2000 previously filed with Registration Statement, File No. 33-89510, on April 20, 2001 and incorporated herein by. reference. (e) Distribution Agreement for services by AXA Network, LLC to The Equitable Life Assurance Society of the United States dated January 1, 2000 previously filed with Registration Statement, File No. 33-89510, on April 20, 2001 and incorporated herein by reference. (f) Form of Participation Agreement among AXA Premier VIP Trust, Equitable Distributors, Inc., AXA Distributors, LLC and AXA Advisors, LLC, previously filed with Registration Statement File No. 333-64749 on December 5, 2001 and incorporated herein by reference. (g) Form of Participation Agreement among The Equitable Life Assurance Society of the United States, The Universal Institutional Funds, Inc. and Morgan Stanley Investment Management Inc., incorporated herein by reference to Exhibit No. 1-A(9)(d) to Registration Statement on Form S-6, File No. 333-17641, filed on October 8, 2002. (h) Form of Participation Agreement among BARR Rosenberg Variable Insurance Trust, BARR ROSENBERG FUNDS DISTRIBUTOR, INC., AXA ROSENBERG INVESTMENT MANAGEMENT LLC, and the Equitable Life Assurance Company of the United States, incorporated herein by reference to Exhibit No. 8(d) to Registration Statement on Form N-4, File No. 2-30070, filed on August 5, 2003. (i) General Agent Sales Agreement dated January 1, 2000 between The Equitable Life Assurance Society of the United States and AXA Network, LLC and its subsidiaries, incorporated herein by reference to Exhibit 3(h) to the Registration Statement on Form N-4, File No. 2-30070, filed April 19, 2004. (j) First Amendment to General Agent Sales Agreement dated January 1, 2000 between The Equitable Life Assurance Society of the United States and AXA Network, LLC and its subsidiaries, incorporated herein by reference to Exhibit 3(i) to the Registration Statement on Form N-4, File No. 2-30070, filed April 19, 2004. (k) Second Amendment to General Agent Sales Agreement dated January 1, 2000 between The Equitable Life Assurance Society of the United States and AXA Network, LLC and its subsidiaries, incorporated herein by reference to Exhibit 3(j) to the Registration Statement on Form N-4, File No. 2-30070, filed April 19, 2004. (l) (i) Form of Distribution Agreement dated as of January 1, 1998 among The Equitable Life Assurance Society of the United States (now AXA Equitable Life Insurance Company) for itself and as depositor on behalf of certain Separate Accounts, and Equitable Distributors, Inc. (now AXA Distributors, LLC), incorporated herein by reference to Exhibit 3(b) to the Registration Statement on Form N-4 (File No. 333-05593), filed on May 1, 1998. (l) (ii) Form of First Amendment (dated January 1, 2001) to Distribution Agreement dated January 1, 1998, incorporated herein by reference to Registration Statement (File No. 2-30070) on Form N-4 filed on December 30, 2004. (m) Form of Brokerage General Agent Sales Agreement with Schedule and Amendment to Brokerage General Agent Sales Agreement among [Brokerage General Agent] and AXA Distributors, LLC, AXA Distributors Insurance Agency, LLC, AXA Distributors Insurance Agency of Alabama, LLC, and AXA Distributors Insurance Agency of Massachusetts, LLC, incorporated herein by reference to Exhibit No. 3.(i) to Registration Statement (File No. 333-05593) on Form N-4, filed on April 20, 2005. (n) Form of Wholesale Broker-Dealer Supervisory and Sales Agreement among [Broker-Dealer] and AXA Distributors, LLC, incoporated herein by reference to Exhibit No. 3.(j) to Registration Statement (File No. 333-05593) on Form N-4, filed on April 20, 2005. (o) Third Amendment to General Agent Sales Agreement dated as of January 1, 2000 by and between The Equitable Life Assurance Society of the United States and AXA Network, LLC and its subsidiaries incorporated herein by reference to Registration Statement on Form N-4 (File No. 333-127445), filed on August 11, 2005. (p) Fourth Amendment to General Agent Sales Agreement dated as of January 1, 2000 by and between The Equitable Life Assurance Society of the United States and AXA Network, LLC and its subsidiaries incorporated herein by reference to Registration Statement on Form N-4 (File No. 333-127445), filed on August 11, 2005. (q) Fifth Amendment, dated as of November 1, 2006, to General Agent Sales Agreement dated as of January 1, 2000 by and between The Equitable Life Assurance Society of the United States and AXA Network, LLC and its subsidiaries incorporated herein by reference to Exhibit 3.(p) to the Registration Statement on Form N-4 (File No. 2-30070), filed on April 24, 2007. (2) Not applicable. (4) (a) Form of group annuity contract no. 1050-94IC, previously filed with this Registration Statement No. 33-89510 on April 24, 1995, incorporated herein by reference to Exhibit 4(f) to Registration Statement File No. 2-30070, refiled electronically July 10, 1998. (b) Form of group annuity certificate nos. 94ICA and 94ICB, previously filed with this Registration Statement No. 33-89510 on April 24, 1995, incorporated herein by reference to Exhibit 4(g) to Registration Statement File No. 2-30070, refiled electronically July 10, 1998. (c) Forms of endorsement nos. 94ENIRAI, 94ENNQI and 94ENMVAI to contract no. 1050-94IC, previously filed with this Registration Statement No. 33-89510 on April 24, 1995, incorporated herein by reference to Exhibit 4(h) to Registration Statement File No. 2-30070, refiled electronically July 10, 1998. (d) Forms of data pages to endorsement nos. 94ENIRAI, 94ENNQI and 94ENMVAI, previously filed with this Registration Statement No. 33-89510 on April 24, 1995, incorporated herein by reference to Registration Statement File No. 2-30070, refiled electronically July 10, 1998. (e) Form of application used with the annuity contract identified above, previously filed with Registration Statement No. 33-89510 on April 26, 1996 and incorporated herein by reference. (f) Form of data pages for standard Roth IRA Certificates, incorporated herein by reference to Exhibit 4(m) to the Registration Statement on Form N-4, File No. 2-30070, filed June 9, 1998. (g)(i) Form of endorsement for standard Roth IRA Certificates, incorporated herein by reference to Exhibit 4(n) to the Registration Statement on Form N-4, File No. 2-30070, filed June 9, 1998. (g)(ii) Form of application for use with standard IRA Certificates and Roth Advantage Certificates, incorporated herein by reference to Exhibit No. 5(c) to the Registration Statement on Form N-4, File No. 2-30070, filed June 9, 1998. (h) Form of data pages for Roth Advantage Certificates, incorporated herein by reference to Exhibit 4(o) to the Registration Statement on Form N-4, File No. 2-30070, filed June 9, 1998. (i) Form of endorsement for Roth Advantage Certificates, incorporated herein by reference to Exhibit 4(p) to the Registration Statement on Form N-4, File No. 2-30070, filed June 9, 1998. (j) Form of data pages for EQUI-VEST Express No. 94ICA/B (8/99), incorporated herein by reference to Exhibit No. 4(g) to the Registration Statement File No. 333-81393, filed on Form N-4 on June 23, 1999. (k)(i) Form of data pages for EQUI-VEST Tax Deferred Variable Annuity Application Form #180-1009, incorporated herein by reference to Exhibit No. 5(a) to the Registration Statement File No. 333-81393, filed on Form N-4 on June 23, 1999. (k)(ii) Form of EQUI-VEST(R) Tax-Deferred Variable Individual Annuity Application, Form No. 180-1009, incorporated herein by reference to Exhibit No. 5(a) to Registration Statement File No. 333-81501, filed on Form N-4 on June 24, 1999. (l) Form of Guaranteed Death Benefit Rider, Form No. 99GDB, incorporated herein by reference to Exhibit No. 4(g) to Registration Statement File No. 333-81501 filed on Form N-4 on June 24, 1999. (m) Form of EQUI-VEST data pages, Form No. 94ICA/B (8/99), incorporated herein by reference to Exhibit No. 4(h) to Registration Statement File No. 333-81501 filed on Form N-4 on June 24, 1999. (n) Form of endorsement -- EQUI-VEST Beneficiary Continuation Option (for use with IRA contracts) previously filed with Registration Statement File No. 33-89510 on April 26, 2000 and incorporated herein by reference. (o) Form of Endorsement (No. 2001 ENJONQ) applicable to Non Qualified Certificates incorporated herein by reference to Exhibit 4(i) to Registration Statement File No. 333-81393 filed on form N-4 on April 19, 2001. (p) Form of Endorsement (No. 2000 ENMVA) applicable to Market Value Adjustment Terms incorporated herein by reference to Exhibit 4(s) to Registration Statement File No. 2-30070 filed on form N-4 on April 19, 2001. (q) Form of Amendment (No. 2001 BCOTSA6) to Certificate 9412CAIB and Endorsement 96 ENTSAIL and 96 ENTSAILI incorporated herein by reference to Exhibit 4(u) to Registration Statement File No. 2-30070 filed on form N-4 on April 19, 2001. (r) Form of Amendment (No. 2001 BCOTSA2) to Equivest Series 2000 contract incorporated herein by reference to Exhibit 4(v) to Registration Statement File No. 2-30070 filed on form N-4 on April 19, 2001. (s) Form of Amendment (No 2001 BCOTSAI) to Certificate issued under Contract No. 11930T incorporated herein by reference to Exhibit 4(t) to Registration Statement File No. 2-30070 filed on form N-4 on April 19, 2001. (t) Forms of Group Annuity Contract (No. 2001-TSAGAC-TXTRS, Certificate No. 2001TSACERTB-TXTRS and Data Pages, incorporated herein by reference to Exhibit No. 4(y) to Registration Statement File No. 2-30070 on Form N-4, filed on July 11, 2002. (u) Forms of Endorsement and Data Pages for series 200 contracts in connection with Texas Teacher Retirement System incorporated herein by reference to Exhibit No. 4(z) to Registration Statement No. 2-30070 on Form N-4, filed on July 11, 2002 (v) Form of data pages for IRA Takeover Beneficiary Continuation Option, Form No. 2002IRATOBCO-EV, incorporated herein by reference to Exhibit No. 4(j) to Registration Statement File No. 333-81393 on Form N-4 filed on April 17, 2003. (w) Form of Endorsement for Traditional IRA Takeover Beneficiary Continuation Option Form No. 2002IRATOBCO, incorporated herein by reference to Exhibit No. 4(k) to Registration Statement File No. 333-81393 on Form N-4 filed on April 17, 2003. (x) Form of Endorsement for Roth IRA Takeover Beneficiary Continuation Option, Form No. 2002ROTHTOBCO, incorporated by reference to Exhibit No. 4(l) to Registration Statement File No. 333-81393 on Form N-4 filed on April 17, 2003. (y) Form of Endorsement Applicable to Non-Qualified (in-force) Contract/ Certificates with Beneficiary Continuation Option, Form No. 2002NQBCO, incorporated herein by reference to Exhibit No. 4(m) to Registration Statement File No. 333-81393 on Form N-4 filed on April 17, 2003. (z) Form of Application for EQUI-VEST Takeover Beneficiary Continuation Option, Form No. 180-3000BCO, incorporated herein by reference to Exhibit No. 5(b) to Registration Statement File No. 333-81393 on Form N-4 filed on April 17, 2003. (a)(a) Form of Endorsement for series 200 EDC plans, No. 2002EDC(10/02), incorporated herein by reference to Exhibit No. 4(a)(a) to Registration Statement File No. 2-30070, filed on Form N-4, on April 17, 2003. (b)(b) Form of Endorsement for series 100 EDC plans, No. 2002EDC-100, incorporated herein by reference to Exhibit No. 4(b)(b) to Registration Statement File No. 2-30070, filed on Form N-4, on April 17, 2003. (c)(c) Form of Group Annuity Contract for series 200 EDCA contracts, No. 2002EDCA, incorporated herein by reference to Exhibit No. 4(c)(c) to Registration Statement File No. 2-30070, filed on Form N-4 on April 17, 2003. (d)(d) Form of Endorsement for Series 300 Contracts, No. 2003PRO-RATA incorporated herein by reference to Exhibit No. 4(d)(d) to Registration Statement File No. 2-30070, filed on Form N-4 on April 16, 2004. (e)(e) Form of Endorsement for All Series Contracts, No. 2003GIARATE incorporated herein by reference to Exhibit No. 4(e)(e) to Registration Statement File No. 2-30070, filed on Form N-4 on April 16, 2004. (f)(f) Form of Endorsement 2.5% minimum guaranteed annuity rate, No. 2004GAPIR incorporated herein by reference to Exhibit No. 4(f)(f) to Registration Statement File No. 2-30070, filed on Form N-4 on April 16, 2004. (g)(g) Form of Endorsement applicable to EGTRRA-SEP, No. 2003ENSEP incorporated herein by reference to Exhibit No. 4(g)(g) to Registration Statement File No. 2-30070, filed on Form N-4 on April 16, 2004. (h)(h) Form of Endorsement applicable to EGTRRA-SIMPLE IRA, No. 2003ENSIMI incorporated herein by reference to Exhibit No. 4(h)(h) to Registration Statement File No. 2-30070, filed on Form N-4 on April 16, 2004. (i)(i) Form of Group Annuity Contract for NJ ACTS TSA No. 203-TSAGAC403(b) incorporated herein by reference to Exhibit No. 4(i)(i) to Registration Statement File No. 2-30070, filed on Form N-4 on April 16, 2004. (j)(j) Form of Group Annuity Certificate for NJ ACTS TSA No. 2003NJ403(b) incorporated herein by reference to Exhibit No. 4(j)(j) to Registration Statement File No. 2-30070, filed on Form N-4 on April 16, 2004. (k)(k) Form of Data pages for NJ ACTS TSA No. 2003NJ403(b) incorporated herein by reference to Exhibit No. 4(k)(k) to Registration Statement File No. 2-30070, filed on Form N-4 on April 16, 2004. (l)(l) Form of Group Flexible Premium Deferred Variable Annuity Contract, No. 2004EDCGAC, incorporated herein by reference to Exhibit No. 4(l)(l) to Registration Statement File No. 2-30070, filed on Form N-4 on December 29, 2004. (m)(m) Form of Group Flexible Premium Deferred Variable Annuity Contract, No. 2004TSAGAC, incorporated herein by reference to Exhibit No. 4(m)(m) to Registration Statement File No. 2-30070, filed on Form N-4 on December 29, 2004. (n)(n) Form of Flexible Premium Deferred Variable Annuity Certificate No. 2004EDCCERT-A, incorporated herein by reference to Exhibit No. 4(n)(n) to Registration Statement File No. 2-30070, filed on Form N-4 on December 29, 2004. (o)(o) Form of Flexible Premium Deferred Variable Annuity Certificate No. 2004EDCCERT-B, incorporated herein by reference to Exhibit No. 4(o)(o) to Registration Statement File No. 2-30070, filed on Form N-4 on December 29, 2004. (p)(p) Form of Data Pages for EQUI-VEST Strategies, No. 2004EDCCERT-A/B, incorporated herein by reference to Exhibit No. 4(p)(p) to Registration Statement No. 2-30070, filed on Form N-4 on December 29, 2004. (q)(q) Form of TSA 403(B) Group Annuity Contract Application for EQUI-VEST Strategies, No. 2004/403(B), incorporated herein by reference to Exhibit No. 4(q)(q) to Registration Statement No. 2-30070, filed on Form N-4 on December 29, 2004. (r)(r) Form of EQUI-VEST Strategies 457(b) EDC Enrollment Form, No. 2004 EDC STRAT, incorporated herein by reference to Exhibit No. 4(r)(r) to Registration Statement No. 2-30070, filed on Form N-4 on December 29, 2004. (s)(s) Form of EQUI-VEST Strategies 403(b) TSA Enrollment Form, No. 2004 TSA STRAT, incorporated herein by reference to Exhibit No. 4(s)(s) to Registration Statement No. 2-30070, filed on Form N-4 on December 29, 2004. (t)(t) Form of Endorsement for Vantage ACTS re: Unallocated Account, No. 2005EN-NJACT, incorporated herein by reference to Exhibit No. 4(t)(t) to Registration Statement File No. 2-30070 on Form N-4, filed on April 22, 2005. (u)(u) Form of Endorsement for EDC re: Amendment to Amount of Annuity Benefits section, No. 2004GAPIR, incorporated herein by reference to Exhibit No. 4(u)(u) to Registration Statement File No. 2-30070 on Form N-4, filed on April 22, 2005. (v)(v) Form of Endorsement Applicable to TSA Contracts, No. 2004TSA, incorporated herein by reference to Exhibit No. 4(v)(v) to Registration Statement File No. 2-30070 on Form N-4, filed on April 22, 2005. (w)(w) Form of Endorsement to deferred annuity contract for 403(b) arrangement TSA Elective Deferral, incorported herein by reference to Exhibit No. 4.(w)(w) to Registration Statement (File No. 3-30070) on Form N-4, filed on April 21, 2006. (x)(x) Form of Flexible Premium Deferred Annuity Certificate (Policy Form 2004EDCCERT-B) previously filed as an exhibit to Registration Statement (File No. 333-130988) on Form N-4, on January 12, 2006, and incorporated herein by reference. (y)(y) Form of Group Flexible Premium Combination Fixed and Variable Deferred Annuity Certificate (Policy Form 2004TSACERT-B) previously filed as an exhibit to Registration Statement (File No. 333-130988) on Form N-4, on January 12, 2006, and incorporated herein by reference. (z)(z) Form of Group Flexible Premium Combination Fixed and Variable Deferred Variable Annuity Contract (Policy Form 2004TSAGAC) previously filed as an exhibit to Registration Statement (File No. 333-130988) on Form N-4, on January 12, 2006, and incorporated herein by reference. (a)(a)(a) Form of Group Flexible Premium Deferred Variable Annuity Contract (Policy Form 2004EDCGAC) previously filed as an exhibit to Registration Statement (File No. 333-130988) on Form N-4, on January 12, 2006, and incorporated herein by reference. (b)(b)(b) Form of Group Flexible Premium Combination Fixed and Variable Deferred Annuity Certificate (Policy Form 2004TSACERT-A) previously filed as an exhibit to Registration Statement (File No. 333-130988) on Form N-4, on January 12, 2006, and incorporated herein by reference. (c)(c)(c) Form of Flexible Premium Deferred Variable Annuity Certificate (Policy Form 2004EDCCERT-A) previously filed as an exhibit to Registration Statement (File No. 333-130988) on Form N-4, on January 12, 2006, and incorporated herein by reference. (d)(d)(d) Form of TSA 403(b) Group Annuity Contract Application (Policy Form 2004/403(b)) previously filed as an exhibit to Registration Statement (File No. 333-130988) on Form N-4, on January 12, 2006, and incorporated herein by reference. (e)(e)(e) Form of EDC (457) Group Annuity Contract Application (Policy Form 2004/457) previously filed as an exhibit to Registration Statement (File No. 333-130988) on Form N-4, on January 12, 2006, and incorporated herein by reference. (f)(f)(f) Form of EQUI-VEST Strategies 457(b) EDC Enrollment Form (Policy Form 2004 EDC STRAT) previously filed as an exhibit to Registration Statement (File No. 333-130988) on Form N-4, on January 12, 2006, and incorporated herein by reference. (g)(g)(g) Form of EQUI-VEST Strategies 403(b) TSA Enrollment Form (Policy Form 2004 TSA STRAT) previously filed as an exhibit to Registration Statement (File No. 333-130988) on Form N-4, on January 12, 2006, and incorporated herein by reference. (h)(h)(h) Form of EQUI-VEST Strategies 457(b) EDC Enrollment Form (Policy Form 2004 EDC STRAT ST VAR) previously filed as an exhibit to Registration Statement (File No. 333-130988) on Form N-4, on January 12, 2006, and incorporated herein by reference. (i)(i)(i) Form of EQUI-VEST Strategies 403(b) TSA Enrollment Form (2004 TSA STRAT ST VAR) previously filed as an exhibit to Registration Statement (File No. 333-130988) on Form N-4, on January 12, 2006, and incorporated herein by reference. (j) (j) (j) Form of Endorsement Applicable to Fixed Maturity Options (Form 2006FMOEQV) previously filed as Exhibit 4.(c) to Registration Statement File (No. 333-137052) on Form N-4/A on December 6, 2006 and incorporated herein by reference. (k) (k) (k) Form of Deferred Variable Annuity Application for IRA and NQ (Form No. 180-3005) previously filed as Exhibit 5.(a) Registration Statement (File No. 333-137052) on Form N-4/A on December 6, 2006 and incorporated herein by reference. (l) (l) (l) Form of Deferred Variable Annuity Application for TSA (Form No. 180-3006) previously filed as Exhibit 5.(b) Registration Statement (File No. 333-137052) on Form N-4/A on December 6, 2006 and incorporated herein by reference. (m) (m) (m) 2006 Form of Conversion Endorsement to EQUI-VEST At Retirement is incorporated herein by reference to Exhibit 4. (x)(x) to the Registration Statement on Form N-4 (File No. 2-30070), filed on April 24, 2007. (5) (a) Opinion and Consent of Dodie Kent, Esq. Vice-President and Associate General Counsel of AXA Equitable, as to the legality of the securities being registered, previously filed with this registration statement, File No. 333-142407, on April 24, 2007. (b) Copies of the Internal Revenue Service determination letters regarding qualification under Section 408 of the Internal Revenue Code, previously filed with Registration Statement No. 33-89510 on April 26, 1996 and incorporated herein by reference. (c) Opinion and Consent of Dodie Kent, Esq., Vice-President and Associate General Counsel of AXA Equitable, as to the legality of the securities being registered, previously filed with registration statement (File No. 333-142407) on April 1, 2008. (d) Opinion and Consent of Dodie Kent, Esq., Vice President and Associate General Counsel of AXA Equitable, as to the legality of the securities being registered is filed herewith. (8) Not applicable. (12) Not applicable. (15) Not applicable. (23) (a) Consent of PricewaterhouseCoopers LLP. (b) Consent of KPMG LLP. (c) Consent of Counsel. See Exhibit 5. II-2 (24) (a) Powers of Attorney, previously filed with this registration statement, File No. 333-142407, on April 24, 2007. (b) Powers of Attorney, previously filed with registration statement (File No. 333-142407) on April 27, 2008. (c) Powers of Attorney are filed herewith. (25) Not applicable. (26) Not applicable. Item 17. Undertakings ------------ (a) The undersigned registrant hereby undertakes: (1) To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement: (i) to include any prospectus required by section 10(a)(3) of the Securities Act of 1933; (ii) to reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than 20% change in the maximum aggregate offering price set forth in the "Calculation of Registration Fee" table in the effective registration statement; (iii) to include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement; provided, however, that paragraphs (a)(1)(i), (a)(1)(ii) and (a)(1)(iii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in periodic reports filed with or furnished to the Commission by the registrant pursuant to Section 13 or 15(d) of the Securities Act of 1934 that are incorporated by reference in the registration statement, or is contained in a form of prospectus filed pursuant to Rule 424(b) that is part of this Registration Statement. (2) That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. (3) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering. (4) That, for the purpose of determining liability under the Securities Act of 1933 to any purchaser, each prospectus filed pursuant to Rule 424(b) as part of a registration statement relating to an offering, other than registration statements relying on Rule 430B or other than prospectuses filed in reliance on Rule 430A, shall be deemed to be part of and included in the registration statement as of the date it is first used after effectiveness. Provided, however, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such first use, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such date of first use. (5) That, for the purpose of determining liability of the Registrant under the Securities Act of 1933 to any purchaser in the initial distribution of the securities: The undersigned Registrant undertakes that in a primary offering of securities of the undersigned Registrant pursuant to this registration statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means of any of the following communications, the undersigned Registrant will be a seller to the purchaser and will be considered to offer or sell such securities to such purchaser: (i) Any preliminary prospectus or prospectus of the undersigned Registrant relating to the offering required to be filed pursuant to Rule 424; (ii) Any free writing prospectus relating to the offering prepared by or on behalf of the undersigned Registrant or used or referred to by the undersigned Registrant; (iii) The portion of any other free writing prospectus relating to the offering containing material information about the undersigned Registrant or its securities provided by or on behalf of the undersigned Registrant; and (iv) Any other communication that is an offer in the offering made by the undersigned Registrant to the purchaser. (b) The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the registrant's annual report pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934 that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. (c) Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue. II-3 SIGNATURES Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-3 and has duly caused this amendment to the Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City and State of New York, on November 13, 2008. AXA EQUITABLE LIFE INSURANCE (Registrant) By: /s/ Dodie Kent ---------------------- Dodie Kent Vice President and Associate General Counsel Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed by or on behalf of the following persons in the capacities and on the date indicated. PRINCIPAL EXECUTIVE OFFICERS: *Richard S. Dziadzio Executive Vice President and Chief Executive Officer PRINCIPAL FINANCIAL OFFICER: *Richard Dziadzio Executive Vice President and Chief Financial Officer PRINCIPAL ACCOUNTING OFFICER: *Alvin H. Fenichel Senior Vice President and Chief Accounting Officer *DIRECTORS: Christopher M. Condron Anthony J. Hamilton Joseph H. Moglia Henri de Castries Mary R. (Nina) Henderson Lorie A. Slutsky Denis Duverne James F. Higgins Ezra Suleiman Charlynn Goins Scott D. Miller Peter J. Tobin *By: /s/ Dodie Kent - --------------------------- Dodie Kent Attorney-in-Fact November 13, 2008 II-4 EXHIBIT LIST Exhibit No. TAG VALUE - ----------- --------- (5)(d) Opinion and Consent of Counsel EX-99.5d (23)(a) Consent of PricewaterhouseCoopers LLP. EX-99.23a (23)(b) Consent of KPMG LLP. EX-99.23b (24)(c) Powers of Attorney. EX-99.24c II-5 EX-99.5D 3 e10801_ex99-5d.txt LEGAL OPINION AND CONSENT DODIE KENT Vice President and Associate General Counsel (212) 314-3970 (212) 707-1791 LAW DEPARTMENT November 13, 2008 AXA Equitable Life Insurance Company 1290 Avenue of the Americas New York, NY 10104 Dear Sirs: This opinion is furnished in connection with the filing by AXA Equitable Life Insurance Company ("AXA Equitable") of a Form S-3 Registration Statement of AXA Equitable for the purpose of registering Market Value Adjustment Interests under Flexible Premium Annuity contracts ("Interests") under the Securities Act of 1933. The Interests are purchased with contributions received under individual variable annuity contracts and certificates AXA Equitable offers under group annuity contracts (collectively, the "Certificates"). As described in the prospectuses included in the Registration Statement, the Certificates are designed to provide for retirement income benefits. I have examined such corporate records of AXA Equitable and provisions of the New York insurance law as are relevant to authorization and issuance of the Certificates and such other documents and laws as I consider appropriate. On the basis of such examination, it is my opinion that: 1. AXA Equitable is a corporation duly organized and validly existing under the laws of the State of New York. 2. The Certificates (including any Interests credited thereunder) are duly authorized and when issued in accordance with applicable regulatory approvals represents validly issued and binding obligations of AXA Equitable. I hereby consent to the use of this opinion as an exhibit to the Registration Statement. Very truly yours, /s/ Dodie Kent ------------------- Dodie Kent cc: Christopher E. Palmer, Esq. EX-99.23A 4 e10801_ex99-23a.txt CONSENT OF PRICEWATERHOUSECOOPERS LLP CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM We hereby consent to the incorporation by reference in this Form S-3 of our reports dated March 12, 2008 relating to the consolidated financial statements and related financial statement schedules of AXA Equitable Life Insurance Company (the "Company"), which reports appear in the Company's Annual report on Form 10-K for the year ended December 31, 2007 which is incorporated by reference in the Prospectuses. We also consent to the reference to us under the heading "Incorporation of certain documents by reference" in the Prospectuses and Supplement. /s/ PricewaterhouseCoopers LLP New York, New York November 13, 2008 EX-99.23B 5 e10801_ex99-23b.txt CONSENT OF KPMG CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM The General Partner and Unitholders AllianceBernstein L.P. AllianceBernstein Holding L.P. We consent to the incorporation by reference in the Prospectus Supplement constituting part of AXA Equitable Life Insurance Company's Registration Statement on Form S-3 of our reports dated February 24, 2006, with respect to the consolidated statements of income, changes in partners' capital and comprehensive income and cash flows of AllianceBernstein L.P. for the year ended December 31, 2005, and the statements of income, changes in partners' capital and comprehensive income and cash flows of AllianceBernstein Holding L.P. for the year ended December 31, 2005. We also consent to the incorporation by reference in the Prospectus Supplement of our reports dated February 24, 2006 appearing in AXA Equitable Life Insurance Company's Annual Report on Form 10-K for the year ended December 31, 2007 and to the reference of our firm as experts under the heading "Incorporation of certain documents by reference" in the Prospectus Supplement. /s/ KPMG LLP New York, New York November 13, 2008 EX-99.24(C) 6 e10801_ex99-24c.txt POWERS OF ATTORNEY POWER OF ATTORNEY KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned officer or Director of AXA Equitable Life Insurance Company (the "Company"), a New York stock life insurance company, hereby constitutes and appoints Richard V. Silver, Barbara Goodstein, Dave S. Hattem, Anne M. Katcher, Karen Field Hazin, Naomi J. Weinstein, Edward Marron, Kathleen De Celie, Dodie Kent, William J. Evers, Sun Jin Moon, and each of them (with full power to each of them to act alone), his or her true and lawful attorney-in-fact and agent for him or her and on his or her behalf and in his or her name, place and stead, to execute and file any and all reports (and amendments thereto) by the Company under the Securities Exchange Act of 1934 (including but not limited to any reports on Forms 10-K, 10-Q or 8-K) and any and all registration statements (and amendments thereto) by the Company or its separate accounts relating to annuity contracts and life insurance policies under the Securities Act of 1933 and/or the Investment Company Act of 1940, including but not limited to the "Registration Statements," as defined below, with all exhibits and all instruments necessary or appropriate in connection therewith, each of said attorneys-in-fact and agents being empowered to act with or without the others, and to have full power and authority to do or cause to be done in the name and on behalf of the undersigned each and every act and thing requisite and necessary or appropriate with respect thereto to be done in and about the premises in order to effectuate the same, as fully to all intents and purposes as the undersigned might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or any of them, may do or cause to be done by virtue hereof. The "Registration Statements" covered by the Power of Attorney are defined to include the registration statements listed below: Separate Account No. 45 of AXA Equitable Life Insurance Company (811-08754) --------------------------------------------------------------------------- 33-83750 333-44996 333-61380 333-64751 333-73121 Form N-4 registration statements to be filed as necessary. Separate Account No. 49 of AXA Equitable Life Insurance Company (811-07659) --------------------------------------------------------------------------- 333-05593 333-31131 333-60730 333-64749 333-79379 333-96177 333-127445 333-137206 333-142414 Form N-4 registration statements to be filed as necessary. Separate Account A of AXA Equitable Life Insurance Company (811-01705) ---------------------------------------------------------------------- 2-30070 33-47949 33-58950 333-19925 333-81393 333-81501 333-130988 333-137052 333-141082 333-141292 333-146143 Form N-4 registration statements for EQUI-VEST(R) contracts currently included in Reg. No. 2-30070 (EQUI-VEST(R) Individual, EQUI-VEST(R) Employer Sponsored, EQUI-VEST(R) Vantage(SM), EQUI-VEST(R) TSA Advantage(SM)) Form N-4 registration statements to be filed in September 2008 for a new flexible premium annuity contact under the EQUI-VEST(R) line of variable annuity products. Form N-4 registration statements to be filed as necessary. AXA Equitable Life Insurance Company ------------------------------------ 333-142408 333-142453 333-142454 333-142455 333-142456 333-142457 333-142458 333-142459 333-142461 333-150348 Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests under certain flexible annuity contracts of the Accumulator(R) line of variable annuity products. Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests under certain flexible annuity contracts of the EQUI-VEST(R) line of variable annuity products. Form S-1, S-3, N-3 and N-4 registration statements to be filed as necessary. Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests and to effect the parent guarantee of Market Value Adjustment interests under certain flexible annuity contracts of the Accumulator(R) line of variable annuity products issued by AXA Equitable Life Insurance Company. Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests and to effect the parent guarantee of Market Value Adjustment interests under certain flexible annuity contracts of the EQUI-VEST(R) line of variable annuity products issued by AXA Equitable Life Insurance Company. Separate Account 301 of AXA Equitable Life Insurance Company (811-03301) ------------------------------------------------------------------------ 2-74667 Form N-4 registration statements to be filed as necessary. Separate Account FP of AXA Equitable Life Insurance Company (811-04335) ----------------------------------------------------------------------- 333-17639 333-17641 333-17663 333-17665 333-17669 333-17671 333-76130 333-103199 333-103202 333-115985 333-132200 333-134307 Form N-6 registration statements to be filed as necessary. Separate Account I of AXA Equitable Life Insurance Company (811-02581) ---------------------------------------------------------------------- 333-17633 Form N-6 registration statements to be filed as necessary. IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand this 18th day of September, 2008. /s/ Christopher M. Condron ---------------------------------- Christopher M. Condron Chairman of the Board, President and Chief Executive Officer and Director POWER OF ATTORNEY KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned officer or Director of AXA Equitable Life Insurance Company (the "Company"), a New York stock life insurance company, hereby constitutes and appoints Richard V. Silver, Barbara Goodstein, Dave S. Hattem, Anne M. Katcher, Karen Field Hazin, Naomi J. Weinstein, Edward Marron, Kathleen De Celie, Dodie Kent, William J. Evers, Sun Jin Moon, and each of them (with full power to each of them to act alone), his or her true and lawful attorney-in-fact and agent for him or her and on his or her behalf and in his or her name, place and stead, to execute and file any and all reports (and amendments thereto) by the Company under the Securities Exchange Act of 1934 (including but not limited to any reports on Forms 10-K, 10-Q or 8-K) and any and all registration statements (and amendments thereto) by the Company or its separate accounts relating to annuity contracts and life insurance policies under the Securities Act of 1933 and/or the Investment Company Act of 1940, including but not limited to the "Registration Statements," as defined below, with all exhibits and all instruments necessary or appropriate in connection therewith, each of said attorneys-in-fact and agents being empowered to act with or without the others, and to have full power and authority to do or cause to be done in the name and on behalf of the undersigned each and every act and thing requisite and necessary or appropriate with respect thereto to be done in and about the premises in order to effectuate the same, as fully to all intents and purposes as the undersigned might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or any of them, may do or cause to be done by virtue hereof. The "Registration Statements" covered by the Power of Attorney are defined to include the registration statements listed below: Separate Account No. 45 of AXA Equitable Life Insurance Company (811-08754) --------------------------------------------------------------------------- 33-83750 333-44996 333-61380 333-64751 333-73121 Form N-4 registration statements to be filed as necessary. Separate Account No. 49 of AXA Equitable Life Insurance Company (811-07659) --------------------------------------------------------------------------- 333-05593 333-31131 333-60730 333-64749 333-79379 333-96177 333-127445 333-137206 333-142414 Form N-4 registration statements to be filed as necessary. Separate Account A of AXA Equitable Life Insurance Company (811-01705) ---------------------------------------------------------------------- 2-30070 33-47949 33-58950 333-19925 333-81393 333-81501 333-130988 333-137052 333-141082 333-141292 333-146143 Form N-4 registration statements for EQUI-VEST(R) contracts currently included in Reg. No. 2-30070 (EQUI-VEST(R) Individual, EQUI-VEST(R) Employer Sponsored, EQUI-VEST(R) Vantage(SM), EQUI-VEST(R) TSA Advantage(SM)) Form N-4 registration statements to be filed in September 2008 for a new flexible premium annuity contact under the EQUI-VEST(R) line of variable annuity products. Form N-4 registration statements to be filed as necessary. AXA Equitable Life Insurance Company ------------------------------------ 333-142408 333-142453 333-142454 333-142455 333-142456 333-142457 333-142458 333-142459 333-142461 333-150348 Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests under certain flexible annuity contracts of the Accumulator(R) line of variable annuity products. Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests under certain flexible annuity contracts of the EQUI-VEST(R) line of variable annuity products. Form S-1, S-3, N-3 and N-4 registration statements to be filed as necessary. Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests and to effect the parent guarantee of Market Value Adjustment interests under certain flexible annuity contracts of the Accumulator(R) line of variable annuity products issued by AXA Equitable Life Insurance Company. Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests and to effect the parent guarantee of Market Value Adjustment interests under certain flexible annuity contracts of the EQUI-VEST(R) line of variable annuity products issued by AXA Equitable Life Insurance Company. Separate Account 301 of AXA Equitable Life Insurance Company (811-03301) ------------------------------------------------------------------------ 2-74667 Form N-4 registration statements to be filed as necessary. Separate Account FP of AXA Equitable Life Insurance Company (811-04335) ----------------------------------------------------------------------- 333-17639 333-17641 333-17663 333-17665 333-17669 333-17671 333-76130 333-103199 333-103202 333-115985 333-132200 333-134307 Form N-6 registration statements to be filed as necessary. Separate Account I of AXA Equitable Life Insurance Company (811-02581) ---------------------------------------------------------------------- 333-17633 Form N-6 registration statements to be filed as necessary. IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand this 18th day of September, 2008. /s/ Henri de Castries ------------------------------ Henri de Castries, Director POWER OF ATTORNEY KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned officer or Director of AXA Equitable Life Insurance Company (the "Company"), a New York stock life insurance company, hereby constitutes and appoints Richard V. Silver, Barbara Goodstein, Dave S. Hattem, Anne M. Katcher, Karen Field Hazin, Naomi J. Weinstein, Edward Marron, Kathleen De Celie, Dodie Kent, William J. Evers, Sun Jin Moon, and each of them (with full power to each of them to act alone), his or her true and lawful attorney-in-fact and agent for him or her and on his or her behalf and in his or her name, place and stead, to execute and file any and all reports (and amendments thereto) by the Company under the Securities Exchange Act of 1934 (including but not limited to any reports on Forms 10-K, 10-Q or 8-K) and any and all registration statements (and amendments thereto) by the Company or its separate accounts relating to annuity contracts and life insurance policies under the Securities Act of 1933 and/or the Investment Company Act of 1940, including but not limited to the "Registration Statements," as defined below, with all exhibits and all instruments necessary or appropriate in connection therewith, each of said attorneys-in-fact and agents being empowered to act with or without the others, and to have full power and authority to do or cause to be done in the name and on behalf of the undersigned each and every act and thing requisite and necessary or appropriate with respect thereto to be done in and about the premises in order to effectuate the same, as fully to all intents and purposes as the undersigned might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or any of them, may do or cause to be done by virtue hereof. The "Registration Statements" covered by the Power of Attorney are defined to include the registration statements listed below: Separate Account No. 45 of AXA Equitable Life Insurance Company (811-08754) --------------------------------------------------------------------------- 33-83750 333-44996 333-61380 333-64751 333-73121 Form N-4 registration statements to be filed as necessary. Separate Account No. 49 of AXA Equitable Life Insurance Company (811-07659) --------------------------------------------------------------------------- 333-05593 333-31131 333-60730 333-64749 333-79379 333-96177 333-127445 333-137206 333-142414 Form N-4 registration statements to be filed as necessary. Separate Account A of AXA Equitable Life Insurance Company (811-01705) ---------------------------------------------------------------------- 2-30070 33-47949 33-58950 333-19925 333-81393 333-81501 333-130988 333-137052 333-141082 333-141292 333-146143 Form N-4 registration statements for EQUI-VEST(R) contracts currently included in Reg. No. 2-30070 (EQUI-VEST(R) Individual, EQUI-VEST(R) Employer Sponsored, EQUI-VEST(R) Vantage(SM), EQUI-VEST(R) TSA Advantage(SM)) Form N-4 registration statements to be filed in September 2008 for a new flexible premium annuity contact under the EQUI-VEST(R) line of variable annuity products. Form N-4 registration statements to be filed as necessary. AXA Equitable Life Insurance Company ------------------------------------ 333-142408 333-142453 333-142454 333-142455 333-142456 333-142457 333-142458 333-142459 333-142461 333-150348 Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests under certain flexible annuity contracts of the Accumulator(R) line of variable annuity products. Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests under certain flexible annuity contracts of the EQUI-VEST(R) line of variable annuity products. Form S-1, S-3, N-3 and N-4 registration statements to be filed as necessary. Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests and to effect the parent guarantee of Market Value Adjustment interests under certain flexible annuity contracts of the Accumulator(R) line of variable annuity products issued by AXA Equitable Life Insurance Company. Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests and to effect the parent guarantee of Market Value Adjustment interests under certain flexible annuity contracts of the EQUI-VEST(R) line of variable annuity products issued by AXA Equitable Life Insurance Company. Separate Account 301 of AXA Equitable Life Insurance Company (811-03301) ------------------------------------------------------------------------ 2-74667 Form N-4 registration statements to be filed as necessary. Separate Account FP of AXA Equitable Life Insurance Company (811-04335) ----------------------------------------------------------------------- 333-17639 333-17641 333-17663 333-17665 333-17669 333-17671 333-76130 333-103199 333-103202 333-115985 333-132200 333-134307 Form N-6 registration statements to be filed as necessary. Separate Account I of AXA Equitable Life Insurance Company (811-02581) ---------------------------------------------------------------------- 333-17633 Form N-6 registration statements to be filed as necessary. IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand this 18th day of September, 2008. /s/ Denis Duverne ----------------------------- Denis Duverne, Director POWER OF ATTORNEY KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned officer or Director of AXA Equitable Life Insurance Company (the "Company"), a New York stock life insurance company, hereby constitutes and appoints Richard V. Silver, Barbara Goodstein, Dave S. Hattem, Anne M. Katcher, Karen Field Hazin, Naomi J. Weinstein, Edward Marron, Kathleen De Celie, Dodie Kent, William J. Evers, Sun Jin Moon, and each of them (with full power to each of them to act alone), his or her true and lawful attorney-in-fact and agent for him or her and on his or her behalf and in his or her name, place and stead, to execute and file any and all reports (and amendments thereto) by the Company under the Securities Exchange Act of 1934 (including but not limited to any reports on Forms 10-K, 10-Q or 8-K) and any and all registration statements (and amendments thereto) by the Company or its separate accounts relating to annuity contracts and life insurance policies under the Securities Act of 1933 and/or the Investment Company Act of 1940, including but not limited to the "Registration Statements," as defined below, with all exhibits and all instruments necessary or appropriate in connection therewith, each of said attorneys-in-fact and agents being empowered to act with or without the others, and to have full power and authority to do or cause to be done in the name and on behalf of the undersigned each and every act and thing requisite and necessary or appropriate with respect thereto to be done in and about the premises in order to effectuate the same, as fully to all intents and purposes as the undersigned might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or any of them, may do or cause to be done by virtue hereof. The "Registration Statements" covered by the Power of Attorney are defined to include the registration statements listed below: Separate Account No. 45 of AXA Equitable Life Insurance Company (811-08754) --------------------------------------------------------------------------- 33-83750 333-44996 333-61380 333-64751 333-73121 Form N-4 registration statements to be filed as necessary. Separate Account No. 49 of AXA Equitable Life Insurance Company (811-07659) --------------------------------------------------------------------------- 333-05593 333-31131 333-60730 333-64749 333-79379 333-96177 333-127445 333-137206 333-142414 Form N-4 registration statements to be filed as necessary. Separate Account A of AXA Equitable Life Insurance Company (811-01705) ---------------------------------------------------------------------- 2-30070 33-47949 33-58950 333-19925 333-81393 333-81501 333-130988 333-137052 333-141082 333-141292 333-146143 Form N-4 registration statements for EQUI-VEST(R) contracts currently included in Reg. No. 2-30070 (EQUI-VEST(R) Individual, EQUI-VEST(R) Employer Sponsored, EQUI-VEST(R) Vantage(SM), EQUI-VEST(R) TSA Advantage(SM)) Form N-4 registration statements to be filed in September 2008 for a new flexible premium annuity contact under the EQUI-VEST(R) line of variable annuity products. Form N-4 registration statements to be filed as necessary. AXA Equitable Life Insurance Company ------------------------------------ 333-142408 333-142453 333-142454 333-142455 333-142456 333-142457 333-142458 333-142459 333-142461 333-150348 Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests under certain flexible annuity contracts of the Accumulator(R) line of variable annuity products. Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests under certain flexible annuity contracts of the EQUI-VEST(R) line of variable annuity products. Form S-1, S-3, N-3 and N-4 registration statements to be filed as necessary. Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests and to effect the parent guarantee of Market Value Adjustment interests under certain flexible annuity contracts of the Accumulator(R) line of variable annuity products issued by AXA Equitable Life Insurance Company. Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests and to effect the parent guarantee of Market Value Adjustment interests under certain flexible annuity contracts of the EQUI-VEST(R) line of variable annuity products issued by AXA Equitable Life Insurance Company. Separate Account 301 of AXA Equitable Life Insurance Company (811-03301) ------------------------------------------------------------------------ 2-74667 Form N-4 registration statements to be filed as necessary. Separate Account FP of AXA Equitable Life Insurance Company (811-04335) ----------------------------------------------------------------------- 333-17639 333-17641 333-17663 333-17665 333-17669 333-17671 333-76130 333-103199 333-103202 333-115985 333-132200 333-134307 Form N-6 registration statements to be filed as necessary. Separate Account I of AXA Equitable Life Insurance Company (811-02581) ---------------------------------------------------------------------- 333-17633 Form N-6 registration statements to be filed as necessary. IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand this 18th day of September, 2008. /s/ Charlynn Goins ----------------------------- Charlynn Goins, Director POWER OF ATTORNEY KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned officer or Director of AXA Equitable Life Insurance Company (the "Company"), a New York stock life insurance company, hereby constitutes and appoints Richard V. Silver, Barbara Goodstein, Dave S. Hattem, Anne M. Katcher, Karen Field Hazin, Naomi J. Weinstein, Edward Marron, Kathleen De Celie, Dodie Kent, William J. Evers, Sun Jin Moon, and each of them (with full power to each of them to act alone), his or her true and lawful attorney-in-fact and agent for him or her and on his or her behalf and in his or her name, place and stead, to execute and file any and all reports (and amendments thereto) by the Company under the Securities Exchange Act of 1934 (including but not limited to any reports on Forms 10-K, 10-Q or 8-K) and any and all registration statements (and amendments thereto) by the Company or its separate accounts relating to annuity contracts and life insurance policies under the Securities Act of 1933 and/or the Investment Company Act of 1940, including but not limited to the "Registration Statements," as defined below, with all exhibits and all instruments necessary or appropriate in connection therewith, each of said attorneys-in-fact and agents being empowered to act with or without the others, and to have full power and authority to do or cause to be done in the name and on behalf of the undersigned each and every act and thing requisite and necessary or appropriate with respect thereto to be done in and about the premises in order to effectuate the same, as fully to all intents and purposes as the undersigned might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or any of them, may do or cause to be done by virtue hereof. The "Registration Statements" covered by the Power of Attorney are defined to include the registration statements listed below: Separate Account No. 45 of AXA Equitable Life Insurance Company (811-08754) --------------------------------------------------------------------------- 33-83750 333-44996 333-61380 333-64751 333-73121 Form N-4 registration statements to be filed as necessary. Separate Account No. 49 of AXA Equitable Life Insurance Company (811-07659) --------------------------------------------------------------------------- 333-05593 333-31131 333-60730 333-64749 333-79379 333-96177 333-127445 333-137206 333-142414 Form N-4 registration statements to be filed as necessary. Separate Account A of AXA Equitable Life Insurance Company (811-01705) ---------------------------------------------------------------------- 2-30070 33-47949 33-58950 333-19925 333-81393 333-81501 333-130988 333-137052 333-141082 333-141292 333-146143 Form N-4 registration statements for EQUI-VEST(R) contracts currently included in Reg. No. 2-30070 (EQUI-VEST(R) Individual, EQUI-VEST(R) Employer Sponsored, EQUI-VEST(R) Vantage(SM), EQUI-VEST(R) TSA Advantage(SM)) Form N-4 registration statements to be filed in September 2008 for a new flexible premium annuity contact under the EQUI-VEST(R) line of variable annuity products. Form N-4 registration statements to be filed as necessary. AXA Equitable Life Insurance Company ------------------------------------ 333-142408 333-142453 333-142454 333-142455 333-142456 333-142457 333-142458 333-142459 333-142461 333-150348 Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests under certain flexible annuity contracts of the Accumulator(R) line of variable annuity products. Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests under certain flexible annuity contracts of the EQUI-VEST(R) line of variable annuity products. Form S-1, S-3, N-3 and N-4 registration statements to be filed as necessary. Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests and to effect the parent guarantee of Market Value Adjustment interests under certain flexible annuity contracts of the Accumulator(R) line of variable annuity products issued by AXA Equitable Life Insurance Company. Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests and to effect the parent guarantee of Market Value Adjustment interests under certain flexible annuity contracts of the EQUI-VEST(R) line of variable annuity products issued by AXA Equitable Life Insurance Company. Separate Account 301 of AXA Equitable Life Insurance Company (811-03301) ------------------------------------------------------------------------ 2-74667 Form N-4 registration statements to be filed as necessary. Separate Account FP of AXA Equitable Life Insurance Company (811-04335) ----------------------------------------------------------------------- 333-17639 333-17641 333-17663 333-17665 333-17669 333-17671 333-76130 333-103199 333-103202 333-115985 333-132200 333-134307 Form N-6 registration statements to be filed as necessary. Separate Account I of AXA Equitable Life Insurance Company (811-02581) ---------------------------------------------------------------------- 333-17633 Form N-6 registration statements to be filed as necessary. IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand this 18th day of September, 2008. /s/ Anthony Hamilton ------------------------------ Anthony Hamilton, Director POWER OF ATTORNEY KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned officer or Director of AXA Equitable Life Insurance Company (the "Company"), a New York stock life insurance company, hereby constitutes and appoints Richard V. Silver, Barbara Goodstein, Dave S. Hattem, Anne M. Katcher, Karen Field Hazin, Naomi J. Weinstein, Edward Marron, Kathleen De Celie, Dodie Kent, William J. Evers, Sun Jin Moon, and each of them (with full power to each of them to act alone), his or her true and lawful attorney-in-fact and agent for him or her and on his or her behalf and in his or her name, place and stead, to execute and file any and all reports (and amendments thereto) by the Company under the Securities Exchange Act of 1934 (including but not limited to any reports on Forms 10-K, 10-Q or 8-K) and any and all registration statements (and amendments thereto) by the Company or its separate accounts relating to annuity contracts and life insurance policies under the Securities Act of 1933 and/or the Investment Company Act of 1940, including but not limited to the "Registration Statements," as defined below, with all exhibits and all instruments necessary or appropriate in connection therewith, each of said attorneys-in-fact and agents being empowered to act with or without the others, and to have full power and authority to do or cause to be done in the name and on behalf of the undersigned each and every act and thing requisite and necessary or appropriate with respect thereto to be done in and about the premises in order to effectuate the same, as fully to all intents and purposes as the undersigned might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or any of them, may do or cause to be done by virtue hereof. The "Registration Statements" covered by the Power of Attorney are defined to include the registration statements listed below: Separate Account No. 45 of AXA Equitable Life Insurance Company (811-08754) --------------------------------------------------------------------------- 33-83750 333-44996 333-61380 333-64751 333-73121 Form N-4 registration statements to be filed as necessary. Separate Account No. 49 of AXA Equitable Life Insurance Company (811-07659) --------------------------------------------------------------------------- 333-05593 333-31131 333-60730 333-64749 333-79379 333-96177 333-127445 333-137206 333-142414 Form N-4 registration statements to be filed as necessary. Separate Account A of AXA Equitable Life Insurance Company (811-01705) ---------------------------------------------------------------------- 2-30070 33-47949 33-58950 333-19925 333-81393 333-81501 333-130988 333-137052 333-141082 333-141292 333-146143 Form N-4 registration statements for EQUI-VEST(R) contracts currently included in Reg. No. 2-30070 (EQUI-VEST(R) Individual, EQUI-VEST(R) Employer Sponsored, EQUI-VEST(R) Vantage(SM), EQUI-VEST(R) TSA Advantage(SM)) Form N-4 registration statements to be filed in September 2008 for a new flexible premium annuity contact under the EQUI-VEST(R) line of variable annuity products. Form N-4 registration statements to be filed as necessary. AXA Equitable Life Insurance Company ------------------------------------ 333-142408 333-142453 333-142454 333-142455 333-142456 333-142457 333-142458 333-142459 333-142461 333-150348 Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests under certain flexible annuity contracts of the Accumulator(R) line of variable annuity products. Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests under certain flexible annuity contracts of the EQUI-VEST(R) line of variable annuity products. Form S-1, S-3, N-3 and N-4 registration statements to be filed as necessary. Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests and to effect the parent guarantee of Market Value Adjustment interests under certain flexible annuity contracts of the Accumulator(R) line of variable annuity products issued by AXA Equitable Life Insurance Company. Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests and to effect the parent guarantee of Market Value Adjustment interests under certain flexible annuity contracts of the EQUI-VEST(R) line of variable annuity products issued by AXA Equitable Life Insurance Company. Separate Account 301 of AXA Equitable Life Insurance Company (811-03301) ------------------------------------------------------------------------ 2-74667 Form N-4 registration statements to be filed as necessary. Separate Account FP of AXA Equitable Life Insurance Company (811-04335) ----------------------------------------------------------------------- 333-17639 333-17641 333-17663 333-17665 333-17669 333-17671 333-76130 333-103199 333-103202 333-115985 333-132200 333-134307 Form N-6 registration statements to be filed as necessary. Separate Account I of AXA Equitable Life Insurance Company (811-02581) ---------------------------------------------------------------------- 333-17633 Form N-6 registration statements to be filed as necessary. IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand this 18th day of September, 2008. /s/ Mary R. (Nina) Henderson ---------------------------------- Mary R. (Nina) Henderson, Director POWER OF ATTORNEY KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned officer or Director of AXA Equitable Life Insurance Company (the "Company"), a New York stock life insurance company, hereby constitutes and appoints Richard V. Silver, Barbara Goodstein, Dave S. Hattem, Anne M. Katcher, Karen Field Hazin, Naomi J. Weinstein, Edward Marron, Kathleen De Celie, Dodie Kent, William J. Evers, Sun Jin Moon, and each of them (with full power to each of them to act alone), his or her true and lawful attorney-in-fact and agent for him or her and on his or her behalf and in his or her name, place and stead, to execute and file any and all reports (and amendments thereto) by the Company under the Securities Exchange Act of 1934 (including but not limited to any reports on Forms 10-K, 10-Q or 8-K) and any and all registration statements (and amendments thereto) by the Company or its separate accounts relating to annuity contracts and life insurance policies under the Securities Act of 1933 and/or the Investment Company Act of 1940, including but not limited to the "Registration Statements," as defined below, with all exhibits and all instruments necessary or appropriate in connection therewith, each of said attorneys-in-fact and agents being empowered to act with or without the others, and to have full power and authority to do or cause to be done in the name and on behalf of the undersigned each and every act and thing requisite and necessary or appropriate with respect thereto to be done in and about the premises in order to effectuate the same, as fully to all intents and purposes as the undersigned might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or any of them, may do or cause to be done by virtue hereof. The "Registration Statements" covered by the Power of Attorney are defined to include the registration statements listed below: Separate Account No. 45 of AXA Equitable Life Insurance Company (811-08754) --------------------------------------------------------------------------- 33-83750 333-44996 333-61380 333-64751 333-73121 Form N-4 registration statements to be filed as necessary. Separate Account No. 49 of AXA Equitable Life Insurance Company (811-07659) --------------------------------------------------------------------------- 333-05593 333-31131 333-60730 333-64749 333-79379 333-96177 333-127445 333-137206 333-142414 Form N-4 registration statements to be filed as necessary. Separate Account A of AXA Equitable Life Insurance Company (811-01705) ---------------------------------------------------------------------- 2-30070 33-47949 33-58950 333-19925 333-81393 333-81501 333-130988 333-137052 333-141082 333-141292 333-146143 Form N-4 registration statements for EQUI-VEST(R) contracts currently included in Reg. No. 2-30070 (EQUI-VEST(R) Individual, EQUI-VEST(R) Employer Sponsored, EQUI-VEST(R) Vantage(SM), EQUI-VEST(R) TSA Advantage(SM)) Form N-4 registration statements to be filed in September 2008 for a new flexible premium annuity contact under the EQUI-VEST(R) line of variable annuity products. Form N-4 registration statements to be filed as necessary. AXA Equitable Life Insurance Company ------------------------------------ 333-142408 333-142453 333-142454 333-142455 333-142456 333-142457 333-142458 333-142459 333-142461 333-150348 Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests under certain flexible annuity contracts of the Accumulator(R) line of variable annuity products. Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests under certain flexible annuity contracts of the EQUI-VEST(R) line of variable annuity products. Form S-1, S-3, N-3 and N-4 registration statements to be filed as necessary. Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests and to effect the parent guarantee of Market Value Adjustment interests under certain flexible annuity contracts of the Accumulator(R) line of variable annuity products issued by AXA Equitable Life Insurance Company. Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests and to effect the parent guarantee of Market Value Adjustment interests under certain flexible annuity contracts of the EQUI-VEST(R) line of variable annuity products issued by AXA Equitable Life Insurance Company. Separate Account 301 of AXA Equitable Life Insurance Company (811-03301) ------------------------------------------------------------------------ 2-74667 Form N-4 registration statements to be filed as necessary. Separate Account FP of AXA Equitable Life Insurance Company (811-04335) ----------------------------------------------------------------------- 333-17639 333-17641 333-17663 333-17665 333-17669 333-17671 333-76130 333-103199 333-103202 333-115985 333-132200 333-134307 Form N-6 registration statements to be filed as necessary. Separate Account I of AXA Equitable Life Insurance Company (811-02581) ---------------------------------------------------------------------- 333-17633 Form N-6 registration statements to be filed as necessary. IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand this 18th day of September, 2008. /s/ James F. Higgins -------------------------------- James F. Higgins, Director POWER OF ATTORNEY KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned officer or Director of AXA Equitable Life Insurance Company (the "Company"), a New York stock life insurance company, hereby constitutes and appoints Richard V. Silver, Barbara Goodstein, Dave S. Hattem, Anne M. Katcher, Karen Field Hazin, Naomi J. Weinstein, Edward Marron, Kathleen De Celie, Dodie Kent, William J. Evers, Sun Jin Moon, and each of them (with full power to each of them to act alone), his or her true and lawful attorney-in-fact and agent for him or her and on his or her behalf and in his or her name, place and stead, to execute and file any and all reports (and amendments thereto) by the Company under the Securities Exchange Act of 1934 (including but not limited to any reports on Forms 10-K, 10-Q or 8-K) and any and all registration statements (and amendments thereto) by the Company or its separate accounts relating to annuity contracts and life insurance policies under the Securities Act of 1933 and/or the Investment Company Act of 1940, including but not limited to the "Registration Statements," as defined below, with all exhibits and all instruments necessary or appropriate in connection therewith, each of said attorneys-in-fact and agents being empowered to act with or without the others, and to have full power and authority to do or cause to be done in the name and on behalf of the undersigned each and every act and thing requisite and necessary or appropriate with respect thereto to be done in and about the premises in order to effectuate the same, as fully to all intents and purposes as the undersigned might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or any of them, may do or cause to be done by virtue hereof. The "Registration Statements" covered by the Power of Attorney are defined to include the registration statements listed below: Separate Account No. 45 of AXA Equitable Life Insurance Company (811-08754) --------------------------------------------------------------------------- 33-83750 333-44996 333-61380 333-64751 333-73121 Form N-4 registration statements to be filed as necessary. Separate Account No. 49 of AXA Equitable Life Insurance Company (811-07659) --------------------------------------------------------------------------- 333-05593 333-31131 333-60730 333-64749 333-79379 333-96177 333-127445 333-137206 333-142414 Form N-4 registration statements to be filed as necessary. Separate Account A of AXA Equitable Life Insurance Company (811-01705) ---------------------------------------------------------------------- 2-30070 33-47949 33-58950 333-19925 333-81393 333-81501 333-130988 333-137052 333-141082 333-141292 333-146143 Form N-4 registration statements for EQUI-VEST(R) contracts currently included in Reg. No. 2-30070 (EQUI-VEST(R) Individual, EQUI-VEST(R) Employer Sponsored, EQUI-VEST(R) Vantage(SM), EQUI-VEST(R) TSA Advantage(SM)) Form N-4 registration statements to be filed in September 2008 for a new flexible premium annuity contact under the EQUI-VEST(R) line of variable annuity products. Form N-4 registration statements to be filed as necessary. AXA Equitable Life Insurance Company ------------------------------------ 333-142408 333-142453 333-142454 333-142455 333-142456 333-142457 333-142458 333-142459 333-142461 333-150348 Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests under certain flexible annuity contracts of the Accumulator(R) line of variable annuity products. Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests under certain flexible annuity contracts of the EQUI-VEST(R) line of variable annuity products. Form S-1, S-3, N-3 and N-4 registration statements to be filed as necessary. Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests and to effect the parent guarantee of Market Value Adjustment interests under certain flexible annuity contracts of the Accumulator(R) line of variable annuity products issued by AXA Equitable Life Insurance Company. Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests and to effect the parent guarantee of Market Value Adjustment interests under certain flexible annuity contracts of the EQUI-VEST(R) line of variable annuity products issued by AXA Equitable Life Insurance Company. Separate Account 301 of AXA Equitable Life Insurance Company (811-03301) ------------------------------------------------------------------------ 2-74667 Form N-4 registration statements to be filed as necessary. Separate Account FP of AXA Equitable Life Insurance Company (811-04335) ----------------------------------------------------------------------- 333-17639 333-17641 333-17663 333-17665 333-17669 333-17671 333-76130 333-103199 333-103202 333-115985 333-132200 333-134307 Form N-6 registration statements to be filed as necessary. Separate Account I of AXA Equitable Life Insurance Company (811-02581) ---------------------------------------------------------------------- 333-17633 Form N-6 registration statements to be filed as necessary. IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand this 18th day of September, 2008. /s/ Scott D. Miller ------------------------------ Scott D. Miller, Director POWER OF ATTORNEY KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned officer or Director of AXA Equitable Life Insurance Company (the "Company"), a New York stock life insurance company, hereby constitutes and appoints Richard V. Silver, Barbara Goodstein, Dave S. Hattem, Anne M. Katcher, Karen Field Hazin, Naomi J. Weinstein, Edward Marron, Kathleen De Celie, Dodie Kent, William J. Evers, Sun Jin Moon, and each of them (with full power to each of them to act alone), his or her true and lawful attorney-in-fact and agent for him or her and on his or her behalf and in his or her name, place and stead, to execute and file any and all reports (and amendments thereto) by the Company under the Securities Exchange Act of 1934 (including but not limited to any reports on Forms 10-K, 10-Q or 8-K) and any and all registration statements (and amendments thereto) by the Company or its separate accounts relating to annuity contracts and life insurance policies under the Securities Act of 1933 and/or the Investment Company Act of 1940, including but not limited to the "Registration Statements," as defined below, with all exhibits and all instruments necessary or appropriate in connection therewith, each of said attorneys-in-fact and agents being empowered to act with or without the others, and to have full power and authority to do or cause to be done in the name and on behalf of the undersigned each and every act and thing requisite and necessary or appropriate with respect thereto to be done in and about the premises in order to effectuate the same, as fully to all intents and purposes as the undersigned might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or any of them, may do or cause to be done by virtue hereof. The "Registration Statements" covered by the Power of Attorney are defined to include the registration statements listed below: Separate Account No. 45 of AXA Equitable Life Insurance Company (811-08754) --------------------------------------------------------------------------- 33-83750 333-44996 333-61380 333-64751 333-73121 Form N-4 registration statements to be filed as necessary. Separate Account No. 49 of AXA Equitable Life Insurance Company (811-07659) --------------------------------------------------------------------------- 333-05593 333-31131 333-60730 333-64749 333-79379 333-96177 333-127445 333-137206 333-142414 Form N-4 registration statements to be filed as necessary. Separate Account A of AXA Equitable Life Insurance Company (811-01705) ---------------------------------------------------------------------- 2-30070 33-47949 33-58950 333-19925 333-81393 333-81501 333-130988 333-137052 333-141082 333-141292 333-146143 Form N-4 registration statements for EQUI-VEST(R) contracts currently included in Reg. No. 2-30070 (EQUI-VEST(R) Individual, EQUI-VEST(R) Employer Sponsored, EQUI-VEST(R) Vantage(SM), EQUI-VEST(R) TSA Advantage(SM)) Form N-4 registration statements to be filed in September 2008 for a new flexible premium annuity contact under the EQUI-VEST(R) line of variable annuity products. Form N-4 registration statements to be filed as necessary. AXA Equitable Life Insurance Company ------------------------------------ 333-142408 333-142453 333-142454 333-142455 333-142456 333-142457 333-142458 333-142459 333-142461 333-150348 Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests under certain flexible annuity contracts of the Accumulator(R) line of variable annuity products. Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests under certain flexible annuity contracts of the EQUI-VEST(R) line of variable annuity products. Form S-1, S-3, N-3 and N-4 registration statements to be filed as necessary. Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests and to effect the parent guarantee of Market Value Adjustment interests under certain flexible annuity contracts of the Accumulator(R) line of variable annuity products issued by AXA Equitable Life Insurance Company. Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests and to effect the parent guarantee of Market Value Adjustment interests under certain flexible annuity contracts of the EQUI-VEST(R) line of variable annuity products issued by AXA Equitable Life Insurance Company. Separate Account 301 of AXA Equitable Life Insurance Company (811-03301) ------------------------------------------------------------------------ 2-74667 Form N-4 registration statements to be filed as necessary. Separate Account FP of AXA Equitable Life Insurance Company (811-04335) ----------------------------------------------------------------------- 333-17639 333-17641 333-17663 333-17665 333-17669 333-17671 333-76130 333-103199 333-103202 333-115985 333-132200 333-134307 Form N-6 registration statements to be filed as necessary. Separate Account I of AXA Equitable Life Insurance Company (811-02581) ---------------------------------------------------------------------- 333-17633 Form N-6 registration statements to be filed as necessary. IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand this 18th day of September, 2008. /s/ Joseph H. Moglia -------------------------------- Joseph H. Moglia, Director POWER OF ATTORNEY KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned officer or Director of AXA Equitable Life Insurance Company (the "Company"), a New York stock life insurance company, hereby constitutes and appoints Richard V. Silver, Barbara Goodstein, Dave S. Hattem, Anne M. Katcher, Karen Field Hazin, Naomi J. Weinstein, Edward Marron, Kathleen De Celie, Dodie Kent, William J. Evers, Sun Jin Moon, and each of them (with full power to each of them to act alone), his or her true and lawful attorney-in-fact and agent for him or her and on his or her behalf and in his or her name, place and stead, to execute and file any and all reports (and amendments thereto) by the Company under the Securities Exchange Act of 1934 (including but not limited to any reports on Forms 10-K, 10-Q or 8-K) and any and all registration statements (and amendments thereto) by the Company or its separate accounts relating to annuity contracts and life insurance policies under the Securities Act of 1933 and/or the Investment Company Act of 1940, including but not limited to the "Registration Statements," as defined below, with all exhibits and all instruments necessary or appropriate in connection therewith, each of said attorneys-in-fact and agents being empowered to act with or without the others, and to have full power and authority to do or cause to be done in the name and on behalf of the undersigned each and every act and thing requisite and necessary or appropriate with respect thereto to be done in and about the premises in order to effectuate the same, as fully to all intents and purposes as the undersigned might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or any of them, may do or cause to be done by virtue hereof. The "Registration Statements" covered by the Power of Attorney are defined to include the registration statements listed below: Separate Account No. 45 of AXA Equitable Life Insurance Company (811-08754) --------------------------------------------------------------------------- 33-83750 333-44996 333-61380 333-64751 333-73121 Form N-4 registration statements to be filed as necessary. Separate Account No. 49 of AXA Equitable Life Insurance Company (811-07659) --------------------------------------------------------------------------- 333-05593 333-31131 333-60730 333-64749 333-79379 333-96177 333-127445 333-137206 333-142414 Form N-4 registration statements to be filed as necessary. Separate Account A of AXA Equitable Life Insurance Company (811-01705) ---------------------------------------------------------------------- 2-30070 33-47949 33-58950 333-19925 333-81393 333-81501 333-130988 333-137052 333-141082 333-141292 333-146143 Form N-4 registration statements for EQUI-VEST(R) contracts currently included in Reg. No. 2-30070 (EQUI-VEST(R) Individual, EQUI-VEST(R) Employer Sponsored, EQUI-VEST(R) Vantage(SM), EQUI-VEST(R) TSA Advantage(SM)) Form N-4 registration statements to be filed in September 2008 for a new flexible premium annuity contact under the EQUI-VEST(R) line of variable annuity products. Form N-4 registration statements to be filed as necessary. AXA Equitable Life Insurance Company ------------------------------------ 333-142408 333-142453 333-142454 333-142455 333-142456 333-142457 333-142458 333-142459 333-142461 333-150348 Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests under certain flexible annuity contracts of the Accumulator(R) line of variable annuity products. Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests under certain flexible annuity contracts of the EQUI-VEST(R) line of variable annuity products. Form S-1, S-3, N-3 and N-4 registration statements to be filed as necessary. Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests and to effect the parent guarantee of Market Value Adjustment interests under certain flexible annuity contracts of the Accumulator(R) line of variable annuity products issued by AXA Equitable Life Insurance Company. Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests and to effect the parent guarantee of Market Value Adjustment interests under certain flexible annuity contracts of the EQUI-VEST(R) line of variable annuity products issued by AXA Equitable Life Insurance Company. Separate Account 301 of AXA Equitable Life Insurance Company (811-03301) ------------------------------------------------------------------------ 2-74667 Form N-4 registration statements to be filed as necessary. Separate Account FP of AXA Equitable Life Insurance Company (811-04335) ----------------------------------------------------------------------- 333-17639 333-17641 333-17663 333-17665 333-17669 333-17671 333-76130 333-103199 333-103202 333-115985 333-132200 333-134307 Form N-6 registration statements to be filed as necessary. Separate Account I of AXA Equitable Life Insurance Company (811-02581) ---------------------------------------------------------------------- 333-17633 Form N-6 registration statements to be filed as necessary. IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand this 18th day of September, 2008. /s/ Lorie A. Slutsky ------------------------------- Lorie A. Slutsky. Director POWER OF ATTORNEY KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned officer or Director of AXA Equitable Life Insurance Company (the "Company"), a New York stock life insurance company, hereby constitutes and appoints Richard V. Silver, Barbara Goodstein, Dave S. Hattem, Anne M. Katcher, Karen Field Hazin, Naomi J. Weinstein, Edward Marron, Kathleen De Celie, Dodie Kent, William J. Evers, Sun Jin Moon, and each of them (with full power to each of them to act alone), his or her true and lawful attorney-in-fact and agent for him or her and on his or her behalf and in his or her name, place and stead, to execute and file any and all reports (and amendments thereto) by the Company under the Securities Exchange Act of 1934 (including but not limited to any reports on Forms 10-K, 10-Q or 8-K) and any and all registration statements (and amendments thereto) by the Company or its separate accounts relating to annuity contracts and life insurance policies under the Securities Act of 1933 and/or the Investment Company Act of 1940, including but not limited to the "Registration Statements," as defined below, with all exhibits and all instruments necessary or appropriate in connection therewith, each of said attorneys-in-fact and agents being empowered to act with or without the others, and to have full power and authority to do or cause to be done in the name and on behalf of the undersigned each and every act and thing requisite and necessary or appropriate with respect thereto to be done in and about the premises in order to effectuate the same, as fully to all intents and purposes as the undersigned might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or any of them, may do or cause to be done by virtue hereof. The "Registration Statements" covered by the Power of Attorney are defined to include the registration statements listed below: Separate Account No. 45 of AXA Equitable Life Insurance Company (811-08754) --------------------------------------------------------------------------- 33-83750 333-44996 333-61380 333-64751 333-73121 Form N-4 registration statements to be filed as necessary. Separate Account No. 49 of AXA Equitable Life Insurance Company (811-07659) --------------------------------------------------------------------------- 333-05593 333-31131 333-60730 333-64749 333-79379 333-96177 333-127445 333-137206 333-142414 Form N-4 registration statements to be filed as necessary. Separate Account A of AXA Equitable Life Insurance Company (811-01705) ---------------------------------------------------------------------- 2-30070 33-47949 33-58950 333-19925 333-81393 333-81501 333-130988 333-137052 333-141082 333-141292 333-146143 Form N-4 registration statements for EQUI-VEST(R) contracts currently included in Reg. No. 2-30070 (EQUI-VEST(R) Individual, EQUI-VEST(R) Employer Sponsored, EQUI-VEST(R) Vantage(SM), EQUI-VEST(R) TSA Advantage(SM)) Form N-4 registration statements to be filed in September 2008 for a new flexible premium annuity contact under the EQUI-VEST(R) line of variable annuity products. Form N-4 registration statements to be filed as necessary. AXA Equitable Life Insurance Company ------------------------------------ 333-142408 333-142453 333-142454 333-142455 333-142456 333-142457 333-142458 333-142459 333-142461 333-150348 Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests under certain flexible annuity contracts of the Accumulator(R) line of variable annuity products. Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests under certain flexible annuity contracts of the EQUI-VEST(R) line of variable annuity products. Form S-1, S-3, N-3 and N-4 registration statements to be filed as necessary. Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests and to effect the parent guarantee of Market Value Adjustment interests under certain flexible annuity contracts of the Accumulator(R) line of variable annuity products issued by AXA Equitable Life Insurance Company. Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests and to effect the parent guarantee of Market Value Adjustment interests under certain flexible annuity contracts of the EQUI-VEST(R) line of variable annuity products issued by AXA Equitable Life Insurance Company. Separate Account 301 of AXA Equitable Life Insurance Company (811-03301) ------------------------------------------------------------------------ 2-74667 Form N-4 registration statements to be filed as necessary. Separate Account FP of AXA Equitable Life Insurance Company (811-04335) ----------------------------------------------------------------------- 333-17639 333-17641 333-17663 333-17665 333-17669 333-17671 333-76130 333-103199 333-103202 333-115985 333-132200 333-134307 Form N-6 registration statements to be filed as necessary. Separate Account I of AXA Equitable Life Insurance Company (811-02581) ---------------------------------------------------------------------- 333-17633 Form N-6 registration statements to be filed as necessary. IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand this 18th day of September, 2008. /s/ Ezra Suleiman ------------------------------ Ezra Suleiman, Director POWER OF ATTORNEY KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned officer or Director of AXA Equitable Life Insurance Company (the "Company"), a New York stock life insurance company, hereby constitutes and appoints Richard V. Silver, Barbara Goodstein, Dave S. Hattem, Anne M. Katcher, Karen Field Hazin, Naomi J. Weinstein, Edward Marron, Kathleen De Celie, Dodie Kent, William J. Evers, Sun Jin Moon, and each of them (with full power to each of them to act alone), his or her true and lawful attorney-in-fact and agent for him or her and on his or her behalf and in his or her name, place and stead, to execute and file any and all reports (and amendments thereto) by the Company under the Securities Exchange Act of 1934 (including but not limited to any reports on Forms 10-K, 10-Q or 8-K) and any and all registration statements (and amendments thereto) by the Company or its separate accounts relating to annuity contracts and life insurance policies under the Securities Act of 1933 and/or the Investment Company Act of 1940, including but not limited to the "Registration Statements," as defined below, with all exhibits and all instruments necessary or appropriate in connection therewith, each of said attorneys-in-fact and agents being empowered to act with or without the others, and to have full power and authority to do or cause to be done in the name and on behalf of the undersigned each and every act and thing requisite and necessary or appropriate with respect thereto to be done in and about the premises in order to effectuate the same, as fully to all intents and purposes as the undersigned might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or any of them, may do or cause to be done by virtue hereof. The "Registration Statements" covered by the Power of Attorney are defined to include the registration statements listed below: Separate Account No. 45 of AXA Equitable Life Insurance Company (811-08754) --------------------------------------------------------------------------- 33-83750 333-44996 333-61380 333-64751 333-73121 Form N-4 registration statements to be filed as necessary. Separate Account No. 49 of AXA Equitable Life Insurance Company (811-07659) --------------------------------------------------------------------------- 333-05593 333-31131 333-60730 333-64749 333-79379 333-96177 333-127445 333-137206 333-142414 Form N-4 registration statements to be filed as necessary. Separate Account A of AXA Equitable Life Insurance Company (811-01705) ---------------------------------------------------------------------- 2-30070 33-47949 33-58950 333-19925 333-81393 333-81501 333-130988 333-137052 333-141082 333-141292 333-146143 Form N-4 registration statements for EQUI-VEST(R) contracts currently included in Reg. No. 2-30070 (EQUI-VEST(R) Individual, EQUI-VEST(R) Employer Sponsored, EQUI-VEST(R) Vantage(SM), EQUI-VEST(R) TSA Advantage(SM)) Form N-4 registration statements to be filed in September 2008 for a new flexible premium annuity contact under the EQUI-VEST(R) line of variable annuity products. Form N-4 registration statements to be filed as necessary. AXA Equitable Life Insurance Company ------------------------------------ 333-142408 333-142453 333-142454 333-142455 333-142456 333-142457 333-142458 333-142459 333-142461 333-150348 Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests under certain flexible annuity contracts of the Accumulator(R) line of variable annuity products. Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests under certain flexible annuity contracts of the EQUI-VEST(R) line of variable annuity products. Form S-1, S-3, N-3 and N-4 registration statements to be filed as necessary. Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests and to effect the parent guarantee of Market Value Adjustment interests under certain flexible annuity contracts of the Accumulator(R) line of variable annuity products issued by AXA Equitable Life Insurance Company. Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests and to effect the parent guarantee of Market Value Adjustment interests under certain flexible annuity contracts of the EQUI-VEST(R) line of variable annuity products issued by AXA Equitable Life Insurance Company. Separate Account 301 of AXA Equitable Life Insurance Company (811-03301) ------------------------------------------------------------------------ 2-74667 Form N-4 registration statements to be filed as necessary. Separate Account FP of AXA Equitable Life Insurance Company (811-04335) ----------------------------------------------------------------------- 333-17639 333-17641 333-17663 333-17665 333-17669 333-17671 333-76130 333-103199 333-103202 333-115985 333-132200 333-134307 Form N-6 registration statements to be filed as necessary. Separate Account I of AXA Equitable Life Insurance Company (811-02581) ---------------------------------------------------------------------- 333-17633 Form N-6 registration statements to be filed as necessary. IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand this 18th day of September, 2008. /s/ Peter J. Tobin ------------------------------- Peter J. Tobin, Director POWER OF ATTORNEY KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned officer or Director of AXA Equitable Life Insurance Company (the "Company"), a New York stock life insurance company, hereby constitutes and appoints Richard V. Silver, Barbara Goodstein, Dave S. Hattem, Anne M. Katcher, Karen Field Hazin, Naomi J. Weinstein, Edward Marron, Kathleen De Celie, Dodie Kent, William J. Evers, Sun Jin Moon, and each of them (with full power to each of them to act alone), his or her true and lawful attorney-in-fact and agent for him or her and on his or her behalf and in his or her name, place and stead, to execute and file any and all reports (and amendments thereto) by the Company under the Securities Exchange Act of 1934 (including but not limited to any reports on Forms 10-K, 10-Q or 8-K) and any and all registration statements (and amendments thereto) by the Company or its separate accounts relating to annuity contracts and life insurance policies under the Securities Act of 1933 and/or the Investment Company Act of 1940, including but not limited to the "Registration Statements," as defined below, with all exhibits and all instruments necessary or appropriate in connection therewith, each of said attorneys-in-fact and agents being empowered to act with or without the others, and to have full power and authority to do or cause to be done in the name and on behalf of the undersigned each and every act and thing requisite and necessary or appropriate with respect thereto to be done in and about the premises in order to effectuate the same, as fully to all intents and purposes as the undersigned might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or any of them, may do or cause to be done by virtue hereof. The "Registration Statements" covered by the Power of Attorney are defined to include the registration statements listed below: Separate Account No. 45 of AXA Equitable Life Insurance Company (811-08754) --------------------------------------------------------------------------- 33-83750 333-44996 333-61380 333-64751 333-73121 Form N-4 registration statements to be filed as necessary. Separate Account No. 49 of AXA Equitable Life Insurance Company (811-07659) --------------------------------------------------------------------------- 333-05593 333-31131 333-60730 333-64749 333-79379 333-96177 333-127445 333-137206 333-142414 Form N-4 registration statements to be filed as necessary. Separate Account A of AXA Equitable Life Insurance Company (811-01705) ---------------------------------------------------------------------- 2-30070 33-47949 33-58950 333-19925 333-81393 333-81501 333-130988 333-137052 333-141082 333-141292 333-146143 Form N-4 registration statements for EQUI-VEST(R) contracts currently included in Reg. No. 2-30070 (EQUI-VEST(R) Individual, EQUI-VEST(R) Employer Sponsored, EQUI-VEST(R) Vantage(SM), EQUI-VEST(R) TSA Advantage(SM)) Form N-4 registration statements to be filed in September 2008 for a new flexible premium annuity contact under the EQUI-VEST(R) line of variable annuity products. Form N-4 registration statements to be filed as necessary. AXA Equitable Life Insurance Company ------------------------------------ 333-142408 333-142453 333-142454 333-142455 333-142456 333-142457 333-142458 333-142459 333-142461 333-150348 Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests under certain flexible annuity contracts of the Accumulator(R) line of variable annuity products. Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests under certain flexible annuity contracts of the EQUI-VEST(R) line of variable annuity products. Form S-1, S-3, N-3 and N-4 registration statements to be filed as necessary. Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests and to effect the parent guarantee of Market Value Adjustment interests under certain flexible annuity contracts of the Accumulator(R) line of variable annuity products issued by AXA Equitable Life Insurance Company. Form S-1 or S-3 registration statements to be filed as necessary for Market Value Adjustment interests and to effect the parent guarantee of Market Value Adjustment interests under certain flexible annuity contracts of the EQUI-VEST(R) line of variable annuity products issued by AXA Equitable Life Insurance Company. Separate Account 301 of AXA Equitable Life Insurance Company (811-03301) ------------------------------------------------------------------------ 2-74667 Form N-4 registration statements to be filed as necessary. Separate Account FP of AXA Equitable Life Insurance Company (811-04335) ----------------------------------------------------------------------- 333-17639 333-17641 333-17663 333-17665 333-17669 333-17671 333-76130 333-103199 333-103202 333-115985 333-132200 333-134307 Form N-6 registration statements to be filed as necessary. Separate Account I of AXA Equitable Life Insurance Company (811-02581) ---------------------------------------------------------------------- 333-17633 Form N-6 registration statements to be filed as necessary. IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand this 29th day of September, 2008. /s/ Richard Dziadzio ---------------------------------- Richard Dziadzio Executive Vice President and Chief Financial Officer POWER OF ATTORNEY KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned officer or Director of AXA Equitable Life Insurance Company (the "Company"), a New York stock life insurance company, hereby constitutes and appoints Richard V. Silver, Dave S. Hattem, Karen Field Hazin, Edward Marron, Kathleen De Celie, Dodie Kent, William J. Evers, and each of them (with full power to each of them to act alone), his or her true and lawful attorney-in-fact and agent for him or her and on his or her behalf and in his or her name, place and stead, to execute and file any and all registration statements (and amendments thereto) by the Company or its separate accounts relating to annuity contracts and life insurance policies under the Securities Act of 1933 and/or the Investment Company Act of 1940, including but not limited to the "Registration Statements," as defined below, with all exhibits and all instruments necessary or appropriate in connection therewith, each of said attorneys-in-fact and agents being empowered to act with or without the others, and to have full power and authority to do or cause to be done in the name and on behalf of the undersigned each and every act and thing requisite and necessary or appropriate with respect thereto to be done in and about the premises in order to effectuate the same, as fully to all intents and purposes as the undersigned might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or any of them, may do or cause to be done by virtue hereof. The "Registration Statements" covered by the Power of Attorney are defined to include the registration statements listed below: Separate Account No. 45 of AXA Equitable Life Insurance Company (811-08754) --------------------------------------------------------------------------- 33-83750 333-44996 333-61380 333-64751 333-73121 Form N-4 registration statements to be filed as necessary. Separate Account No. 49 of AXA Equitable Life Insurance Company (811-07659) --------------------------------------------------------------------------- 333-05593 333-31131 333-60730 333-64749 333-79379 333-96177 333-127445 333-137206 333-142414 Form N-4 registration statements to be filed as necessary. Separate Account A of AXA Equitable Life Insurance Company (811-01705) ---------------------------------------------------------------------- 2-30070 33-47949 33-58950 333-19925 333-81393 333-81501 333-130988 333-137052 333-141082 333-141292 333-146143 Form N-4 registration statements for EQUI-VEST(R) contracts currently included in Reg. No. 2-30070 (EQUI-VEST(R) Individual, EQUI-VEST(R) Employer Sponsored, EQUI-VEST(R) Vantage(SM), EQUI-VEST(R) TSA Advantage(SM)) Form N-4 registration statements to be filed in September 2008 for a new flexible premium annuity contact under the EQUI-VEST(R) line of variable annuity products. Form N-4 registration statements to be filed as necessary. AXA Equitable Life Insurance Company ------------------------------------ 333-142408 333-142453 333-142454 333-142455 333-142456 333-142457 333-142458 333-142459 333-142461 333-150348 Form S-3 registration statements to be filed as necessary for Market Value Adjustment interests under certain flexible annuity contracts of the Accumulator(R) line of variable annuity products. Form S-3 registration statements to be filed as necessary for Market Value Adjustment interests under certain flexible annuity contracts of the EQUI-VEST(R) line of variable annuity products. Forms S-3, N-3 and N-4 registration statements to be filed as necessary. Separate Account 301 of AXA Equitable Life Insurance Company (811-03301) ------------------------------------------------------------------------ 2-74667 Form N-4 registration statements to be filed as necessary. Separate Account FP of AXA Equitable Life Insurance Company (811-04335) ----------------------------------------------------------------------- 333-17639 333-17641 333-17663 333-17665 333-17669 333-17671 333-76130 333-103199 333-103202 333-115985 333-132200 333-134307 Form N-6 registration statements to be filed as necessary. Separate Account I of AXA Equitable Life Insurance Company (811-02581) ---------------------------------------------------------------------- 333-17633 Form N-6 registration statements to be filed as necessary. IN WITNESS WHEREOF, the undersigned has hereunto set his or her hand this 26th day of September, 2008. /s/ Alvin H. Fenichel ---------------------------------------- Alvin H. Fenichel, Senior Vice President and Chief Accounting Officer -----END PRIVACY-ENHANCED MESSAGE-----