424B3 1 file001.txt DEFINITIVE MATERIALS Cover Page 424B3 333-104713 The Equitable Life Assurance Society of the United States SUPPLEMENT DATED AUGUST 10, 2004, TO THE CURRENT PROSPECTUSES OR PROSPECTUS SUPPLEMENTS FOR: o Income Manager Accumulator(R) o Equitable Accumulator(R) Plus(SM) o Equitable Accumulator(R) Select(SM) II o Income Manager(R) Rollover IRA o Equitable Accumulator(R) o Equitable Accumulator(R) Elite(SM) o Equitable Accumulator(R) (IRA, NQ, QP) o Equitable Accumulator(R) Select(SM) o Equitable Accumulator(R) Elite(SM) II
------------------------------------------------------------------------------- This supplement modifies certain information in the above-referenced Prospectuses or Prospectus supplements (the "Prospectuses"). Unless otherwise indicated, all other information in the Prospectuses 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. Please note the following information: APPENDIX V: 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, the Protection Plus benefit and the guaranteed minimum income benefit under certain hypothetical circumstances for an Accumulator(R), Accumulator(R) Plus(SM), Accumulator(R) Elite(SM) & Accumulator(R) Select(SM) contract. The tables illustrate 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 policy 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 at the 0% and 6% gross annual rates, respectively, would be (2.92)% and 3.08% for the Accumulator(R) contract; (3.12)% and 2.88% for the Accumulator(R) Plus(SM) contract; (3.32)% and 2.68% for the Accumulator Elite(SM) contract; & (3.42)% and 2.58% for the Accumulator(R) Select(SM) contract. 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 guaranteed minimum death benefit, Protection Plus benefit and the Living Benefit features, as well as the annual administrative charge. If the net annual rates of return did reflect these benefit charges, the net annual rates of return shown would be lower; however, the values shown in the following tables reflect all policy charges. The values shown under "Lifetime Annual Living Benefit" reflect the lifetime income that would be guaranteed if the Living 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 the "Lifetime Annual Living Benefit" columns indicates that the contract has terminated due to insufficient account value and, consequently, the guaranteed benefit has no value. 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 0.70%, (2) an assumed average asset charge for all other expenses of the underlying portfolios equivalent to an effective annual rate of 0.77% 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 policy values among the investment options. These rates 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. Without those arrangements, the charges shown above would be higher. This would result in lower values than those shown in the following tables. The tables take into account the maximum current fees and charges applicable to the Accumulator(R), Accumulator(R) Plus(SM), Accumulator(R) Elite(SM) & Accumulator(R) Select(SM) contracts, including optional benefits charges, which may or may not be available under your contract. Because your circumstances will no doubt differ from those in the illustrations that follow, values under your contract will differ, in most cases substantially. Some of the features illustrated may not be available or may be different under your contract. Upon request, we will furnish you with a personalized illustration. 180271 Accumulator In Force x00809 VARIABLE DEFERRED ANNUITY ACCUMULATOR CONTRACT DATE: AUGUST 10, 2002 CURRENT ACCOUNT VALUE: $120,000 NO FUTURE CONTRIBUTIONS OR WITHDRAWALS MALE, ISSUE AGE 60 BENEFITS: GREATER OF 6% ROLL-UP AND THE ANNUAL RATCHET TO AGE 85 GUARANTEED MINIMUM DEATH BENEFIT PROTECTION PLUS GUARANTEED MINIMUM INCOME BENEFIT
Greater of 6% Roll-Up to Age 85 and the Annual Ratchet to Age 85 Guaranteed Minimum Account Value Cash Value Death Benefit ----------------- ---------------- ------------------ Attained Age Year 0% 6% 0% 6% 0% 6% ------- ------ ------- ------- ------- ------- -------- ------- 62 08/10/2004 120,000 120,000 114,000 114,000 120,000 120,000 63 08/10/2005 114,573 121,748 108,573 115,748 126,248 126,248 64 08/10/2006 109,233 123,453 104,233 118,453 133,823 133,823 65 08/10/2007 103,970 125,108 100,970 122,108 141,852 141,852 66 08/10/2008 98,776 126,705 97,776 125,705 150,363 150,363 67 08/10/2009 93,644 128,238 93,644 128,238 159,385 159,385 68 08/10/2010 88,564 129,698 88,564 129,698 168,948 168,948 69 08/10/2011 83,528 131,075 83,528 131,075 179,085 179,085 70 08/10/2012 78,527 132,362 78,527 132,362 189,830 189,830 71 08/10/2013 73,552 133,546 73,552 133,546 201,220 201,220 74 08/10/2018 58,696 136,376 58,696 136,376 239,656 239,656 79 08/10/2023 33,483 137,866 33,483 137,866 320,714 320,714 84 08/10/2028 6,602 133,452 6,602 133,452 429,187 429,187 89 08/10/2033 0 129,322 0 129,322 0 454,938 94 08/10/2038 0 133,477 0 133,477 0 454,938 97 08/10/2039 0 136,251 0 136,251 0 454,938 Lifetime Annual Guaranteed Minimum Income Benefit --------------------------------- Total Death Benefit with Guaranteed Hypothetical Protection Plus Income Income ---------------- --------------- --------------- Attained Age Year 0% 6% 0% 6% 0% 6% ------ ---------- ------- ------- ------ ------ ------ ------ 62 08/10/2004 128,000 128,000 NA NA NA NA 63 08/10/2005 136,747 136,747 NA NA NA NA 64 08/10/2006 147,352 147,352 NA NA NA NA 65 08/10/2007 158,593 158,593 NA NA NA NA 66 08/10/2008 170,508 170,508 NA NA NA NA 67 08/10/2009 183,139 183,139 NA NA NA NA 68 08/10/2010 196,527 196,527 NA NA NA NA 69 08/10/2011 210,719 210,719 NA NA NA NA 70 08/10/2012 225,762 225,762 11,219 11,219 11,219 11,219 71 08/10/2013 241,708 241,708 12,113 12,113 12,113 12,113 74 08/10/2018 295,518 295,518 15,122 15,122 15,122 15,122 79 08/10/2023 408,999 408,999 24,150 24,150 24,150 24,150 84 08/10/2028 525,170 525,170 36,910 36,910 36,910 36,910 89 08/10/2033 0 550,921 NA NA NA NA 94 08/10/2038 0 550,921 NA NA NA NA 97 08/10/2039 0 550,921 NA NA NA NA
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 POLICY 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 POLICY 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. 2 VARIABLE DEFERRED ANNUITY ACCUMULATOR PLUS CONTRACT DATE: AUGUST 10, 2002 CURRENT ACCOUNT VALUE: $120,000 NO FUTURE CONTRIBUTIONS OR WITHDRAWALS MALE, ISSUE AGE 60 BENEFITS: GREATER OF 6% ROLL-UP AND THE ANNUAL RATCHET TO AGE 85 GUARANTEED MINIMUM DEATH BENEFIT PROTECTION PLUS GUARANTEED MINIMUM INCOME BENEFIT
Greater of 6% Roll-Up at Age 85 and the Annual Ratchet to Age 85 Guaranteed Minimum Account Value Cash Value Death Benefit ------------------- ------------------- ------------------- Attained Age Year 0% 6% 0% 6% 0% 6% --------- ---------- -------- ------- ------- ------- -------- -------- 62 08/10/2004 120,000 120,000 113,000 113,000 123,866 123,866 63 08/10/2005 114,274 121,448 107,274 114,448 131,298 131,298 64 08/10/2006 108,651 122,839 102,651 116,839 139,175 139,175 65 08/10/2007 103,122 124,164 98,122 119,164 147,526 147,526 66 08/10/2008 97,678 125,416 93,678 121,416 156,378 156,378 67 08/10/2009 92,310 126,587 89,310 123,587 165,760 165,760 68 08/10/2010 87,009 127,669 87,009 127,669 175,706 175,706 69 08/10/2011 81,764 128,651 81,764 128,651 186,248 186,248 70 08/10/2012 76,567 129,524 76,567 129,524 197,423 197,423 71 08/10/2013 71,407 130,276 71,407 130,276 209,268 209,268 74 08/10/2018 56,055 131,694 56,055 131,694 249,242 249,242 79 08/10/2023 30,148 130,403 30,148 130,403 333,542 333,542 84 08/10/2028 2,733 122,603 2,733 122,603 446,355 446,355 89 08/10/2033 0 114,743 0 114,743 0 473,136 94 08/10/2038 0 115,020 0 115,020 0 473,136 97 08/10/2039 0 115,203 0 115,203 0 473,136 Lifetime Annual Guaranteed Minimum Income Benefit --------------------------------- Total Death Benefit with Protection Guaranteed Hypothetical Plus Income Income ------------------- ----------------- ---------------- Attained Age Year 0% 6% 0% 6% 0% 6% --------- ---------- ------- ------- ------ ------- ------- ------- 62 08/10/2004 133,412 133,412 NA NA NA NA 63 08/10/2005 143,817 143,817 NA NA NA NA 64 08/10/2006 154,846 154,846 NA NA NA NA 65 08/10/2007 166,536 166,536 NA NA NA NA 66 08/10/2008 178,929 178,929 NA NA NA NA 67 08/10/2009 192,064 192,064 NA NA NA NA 68 08/10/2010 205,988 205,988 NA NA NA NA 69 08/10/2011 220,747 220,747 NA NA NA NA 70 08/10/2012 236,392 236,392 11,668 11,668 11,668 11,668 71 08/10/2013 252,976 252,976 12,598 12,598 12,598 12,598 74 08/10/2018 308,939 308,939 15,727 15,727 15,727 15,727 79 08/10/2023 426,959 426,959 25,116 25,116 25,116 25,116 84 08/10/2028 547,776 547,776 38,386 38,386 38,386 38,386 89 08/10/2033 0 574,558 NA NA NA NA 94 08/10/2038 0 574,558 NA NA NA NA 97 08/10/2039 0 574,558 NA NA NA NA
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 POLICY 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 POLICY 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. 3 VARIABLE DEFERRED ANNUITY ACCUMULATOR ELITE CONTRACT DATE: AUGUST 10, 2002 CURRENT ACCOUNT VALUE: $120,000 NO FUTURE CONTRIBUTIONS OR WITHDRAWALS MALE, ISSUE AGE 60 BENEFITS: GREATER OF 6% ROLL-UP AND THE ANNUAL RATCHET TO AGE 85 GUARANTEED MINIMUM DEATH BENEFIT PROTECTION PLUS GUARANTEED MINIMUM INCOME BENEFIT
Greater of 6% Roll-Up to Age 85 and the Annual Ratchet to Age 85 Guaranteed Minimum Account Value Cash Value Death Benefit ------------------- ---------------- ------------------- Attained Age Year 0% 6% 0% 6% 0% 6% --------- ---------- ------- ------- ------- -------- ------- ------- 62 08/10/2004 120,000 120,000 114,000 114,000 120,000 120,000 63 08/10/2005 114,095 121,270 109,095 116,270 126,248 126,248 64 08/10/2006 108,315 122,478 108,315 122,478 133,823 133,823 65 08/10/2007 102,650 123,618 102,650 123,618 141,852 141,852 66 08/10/2008 97,091 124,682 97,091 124,682 150,363 150,363 67 08/10/2009 91,626 125,663 91,626 125,663 159,385 159,385 68 08/10/2010 86,247 126,552 86,247 126,552 168,948 168,948 69 08/10/2011 80,942 127,340 80,942 127,340 179,085 179,085 70 08/10/2012 75,703 128,017 75,703 128,017 189,830 189,830 71 08/10/2013 70,519 128,573 70,519 128,573 201,220 201,220 74 08/10/2018 55,194 129,402 55,194 129,402 239,656 239,656 79 08/10/2023 29,655 127,177 29,655 127,177 320,714 320,714 84 08/10/2028 3,007 118,610 3,007 118,610 429,187 429,187 89 08/10/2033 0 109,956 0 109,956 0 454,938 94 08/10/2038 0 109,024 0 109,024 0 454,938 97 08/10/2039 0 108,411 0 108,411 0 454,938 Lifetime Annual Guaranteed Minimum Income Benefit ----------------------------- Total Death Benefit with Protection Guaranteed Hypothetical Plus Income Income ------------------ ----------------- ---------------- Attained Age Year 0% 6% 0% 6% 0% 6% --------- ---------- ------- ------- -------- -------- ------ ------ 62 08/10/2004 128,000 128,000 NA NA NA NA 63 08/10/2005 136,747 136,747 NA NA NA NA 64 08/10/2006 147,352 147,352 NA NA NA NA 65 08/10/2007 158,593 158,593 NA NA NA NA 66 08/10/2008 170,508 170,508 NA NA NA NA 67 08/10/2009 183,139 183,139 NA NA NA NA 68 08/10/2010 196,527 196,527 NA NA NA NA 69 08/10/2011 210,719 210,719 NA NA NA NA 70 08/10/2012 225,762 225,762 11,219 11,219 11,219 11,219 71 08/10/2013 241,708 241,708 12,113 12,113 12,113 12,113 74 08/10/2018 295,518 295,518 15,122 15,122 15,122 15,122 79 08/10/2023 408,999 408,999 24,150 24,150 24,150 24,150 84 08/10/2028 525,170 525,170 36,910 36,910 36,910 36,910 89 08/10/2033 0 550,921 NA NA NA NA 94 08/10/2038 0 550,921 NA NA NA NA 97 08/10/2039 0 550,921 NA NA NA NA
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 POLICY 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 POLICY 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. 4 VARIABLE DEFERRED ANNUITY ACCUMULATOR SELECT CONTRACT DATE: AUGUST 10, 2002 CURRENT ACCOUNT VALUE: $120,000 NO FUTURE CONTRIBUTIONS OR WITHDRAWALS MALE, ISSUE AGE 60 BENEFITS: GREATER OF 6% ROLL-UP AND THE ANNUAL RATCHET TO AGE 85 GUARANTEED MINIMUM DEATH BENEFIT PROTECTION PLUS GUARANTEED MINIMUM INCOME BENEFIT
Greater of 6% Roll-Up to Age 85 and the Annual Ratchet to Age 85 Guaranteed Minimum Account Value Cash Value Death Benefit ------------------- ------------------- ------------------- Attained Age Year 0% 6% 0% 6% 0% 6% --------- ---------- --------- ------- -------- ------- -------- ------- 62 08/10/2004 120,000 120,000 120,000 120,000 120,000 120,000 63 08/10/2005 113,975 121,150 113,975 121,150 126,248 126,248 64 08/10/2006 108,086 122,235 108,086 122,235 133,823 133,823 65 08/10/2007 102,322 123,248 102,322 123,248 141,852 141,852 66 08/10/2008 96,672 124,181 96,672 124,181 150,363 150,363 67 08/10/2009 91,127 125,026 91,127 125,026 159,385 159,385 68 08/10/2010 85,675 125,775 85,675 125,775 168,948 168,948 69 08/10/2011 80,306 126,420 80,306 126,420 179,085 179,085 70 08/10/2012 75,010 126,950 75,010 126,950 189,830 189,830 71 08/10/2013 69,777 127,354 69,777 127,354 201,220 201,220 74 08/10/2018 54,344 127,706 54,344 127,706 239,656 239,656 79 08/10/2023 28,747 124,613 28,747 124,613 320,714 320,714 84 08/10/2028 2,171 115,100 2,171 115,100 429,187 429,187 89 08/10/2033 0 105,446 0 105,446 0 454,938 94 08/10/2038 0 103,420 0 103,420 0 454,938 97 08/10/2039 0 102,092 0 102,092 0 454,938 Lifetime Annual Guaranteed Minimum Income Benefit ------------------------------- Total Death Benefit with Protection Guaranteed Hypothetical Plus Income Income ------------------- --------------- ---------------- Attained Age Year 0% 6% 0% 6% 0% 6% --------- ---------- --------- ------- -------- -------- -------- ------- 62 08/10/2004 128,000 128,000 NA NA NA NA 63 08/10/2005 136,747 136,747 NA NA NA NA 64 08/10/2006 147,352 147,352 NA NA NA NA 65 08/10/2007 158,593 158,593 NA NA NA NA 66 08/10/2008 170,508 170,508 NA NA NA NA 67 08/10/2009 183,139 183,139 NA NA NA NA 68 08/10/2010 196,527 196,527 NA NA NA NA 69 08/10/2011 210,719 210,719 NA NA NA NA 70 08/10/2012 225,762 225,762 11,219 11,219 11,219 11,219 71 08/10/2013 241,708 241,708 12,113 12,113 12,113 12,113 74 08/10/2018 295,518 295,518 15,122 15,122 15,122 15,122 79 08/10/2023 408,999 408,999 24,150 24,150 24,150 24,150 84 08/10/2028 525,170 525,170 36,910 36,910 36,910 36,910 89 08/10/2033 0 550,921 NA NA NA NA 94 08/10/2038 0 550,921 NA NA NA NA 97 08/10/2039 0 550,921 NA NA NA NA
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 POLICY 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 POLICY 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. THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES 1290 AVENUE OF THE AMERICAS NEW YORK, NY 10104 (212) 554-1234 5