-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: keymaster@town.hall.org Originator-Key-Asymmetric: MFkwCgYEVQgBAQICAgADSwAwSAJBALeWW4xDV4i7+b6+UyPn5RtObb1cJ7VkACDq pKb9/DClgTKIm08lCfoilvi9Wl4SODbR1+1waHhiGmeZO8OdgLUCAwEAAQ== MIC-Info: RSA-MD5,RSA, nCIJjL3Lg7nkavEDyKG5TYHtiHMwdksO9hBDq8Ql0CwKuknIaaoudeLBhDoRWwxv HH8k355am32fgbIO14Bwgw== 0000950136-95-000234.txt : 19950727 0000950136-95-000234.hdr.sgml : 19950727 ACCESSION NUMBER: 0000950136-95-000234 CONFORMED SUBMISSION TYPE: 424B3 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19950726 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES /NY/ 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: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 033-88456 FILM NUMBER: 95556112 BUSINESS ADDRESS: STREET 1: 787 SEVENTH AVE CITY: NEW YORK STATE: NY ZIP: 10019 BUSINESS PHONE: 2125541234 424B3 1 DEFINITIVE MATERIALS Filed Pursuant to Rule 424 (b)(3) Registration File No.: 33-88456 INCOME MANAGER (SERVICE MARK) SUPPLEMENT TO THE ACCUMULATOR PROSPECTUS DATED APRIL 17, 1995 Combination Variable and Fixed Deferred Annuity Certificates Issued By: The Equitable Life Assurance Society of the United States - ------------------------------------------------------------------------------- The ACCUMULATOR prospectus, Part 5: Provisions of the Certificates and Services We Provide is amended as follows: Under the heading Allocation of Contributions; Self-Directed Allocation the following sentence is added after the sentence in the first bullet point: However, if your initial contribution is $250,000 or more, this restriction does not apply and the total amount of any contribution may be allocated to the Guaranteed Period Account. Under the heading Death Benefit, Guaranteed Minimum Death Benefit (GMDB) replace the paragraph for item (2) with the following: (2) Interest will be calculated at the applicable effective annual GMDB interest rate taking into account contributions, transfers and withdrawals during the Contract Year, except with respect to amounts in the Money Market Fund and the Intermediate Government Securities Fund where the interest credit will be based on the lesser of the actual rate of return for the Money Market Fund for the period such amounts are invested and the GMDB interest rate below. Under the heading Income Annuity Options, under the subheading Assured Payment Plan, replace the first paragraph of this section with the following: If you are the Owner and the Annuitant, you may apply your Annuity Account Value to purchase the Assured Payment Plan (Life Annuity with a Period Certain), provided you meet the issue age and payment restrictions for the Assured Payment Plan. The Assured Payment Plan, is designed to provide guaranteed level or increasing annual payments for your life or for your life and the life of a joint Annuitant. If the Annuity Account Value is applied from an Accumulator Certificate to purchase the Assured Payment Plan at a time when the dollar amount of the withdrawal charge is greater than 2% of remaining contributions (after withdrawals), such withdrawal charge will not be deducted. However, a new withdrawal charge schedule will apply under the Assured Payment Plan. For purposes of the Assured Payment Plan withdrawal charge schedule, the year in which your Annuity Account Value is applied under the Assured Payment Plan will be "Contract Year 1." If the Annuity Account Value is applied from the Accumulator when the dollar amount of the withdrawal charge is 2% or less, there will be no withdrawal charge schedule under the Assured Payment Plan. You should consider the timing of your purchase as it relates to the potential for withdrawal charges under the Assured Payment Plan. No subsequent contributions will be permitted under the Assured Payment Plan Certificate. - ------------------------------------------------------------------------------- Supplement Dated July 17, 1995 You may also apply your Annuity Account Value to purchase the Assured Payment Plan (Period Certain) once withdrawal charges are no longer in effect. This version of the Assured Payment Plan provides for annual payments for a specified period. No withdrawal charges will apply under the Assured Payment Plan Certificate. The Assured Payment Plan (Life Annuity with a Period Certain) is described in our Prospectus for Assured Growth Plan and Assured Payment Plan (Period Certain), dated April 17, 1995, as supplemented with the Assured Payment Plan (Life Annuity with a Period Certain) Supplement dated April 17, 1995 and a Supplement dated July 17, 1995. The Assured Payment Plan (Period Certain) is described in the same prospectus. Copies are available from your registered representative. Filed Pursuant to Rule 424(b)(3) Registration File No.: 33-88456 INCOME MANAGER (SERVICE MARK) SUPPLEMENT TO THE ACCUMULATOR PROSPECTUS DATED APRIL 17, 1995 Combination Variable and Fixed Deferred Annuity Certificates Issued By: The Equitable Life Assurance Society of the United States - ------------------------------------------------------------------------------- The ACCUMULATOR prospectus, Part 5: Provisions of the Certificates and Services We Provide is amended as follows: Under the heading Income Annuity Options, under the subheading Assured Payment Plan, replace the first paragraph of this section with the following: If you are the Owner and the Annuitant, you may apply your Annuity Account Value to purchase the Assured Payment Plan (Life Annuity with a Period Certain), provided you meet the issue age and payment restrictions for the Assured Payment Plan. The Assured Payment Plan, is designed to provide guaranteed level or increasing annual payments for your life or for your life and the life of a joint Annuitant. If the Annuity Account Value is applied from an Accumulator Certificate to purchase the Assured Payment Plan at a time when the dollar amount of the withdrawal charge is greater than 2% of remaining contributions (after withdrawals), such withdrawal charge will not be deducted. However, a new withdrawal charge schedule will apply under the Assured Payment Plan. For purposes of the Assured Payment Plan withdrawal charge schedule, the year in which your Annuity Account Value is applied under the Assured Payment Plan will be "Contract Year 1." If the Annuity Account Value is applied from the Accumulator when the dollar amount of the withdrawal charge is 2% or less, there will be no withdrawal charge schedule under the Assured Payment Plan. You should consider the timing of your purchase as it relates to the potential for withdrawal charges under the Assured Payment Plan. No subsequent contributions will be permitted under the Assured Payment Plan Certificate. You may also apply your Annuity Account Value to purchase the Assured Payment Plan (Period Certain) once withdrawal charges are no longer in effect. This version of the Assured Payment Plan provides for annual payments for a specified period. No withdrawal charges will apply under the Assured Payment Plan Certificate. The Assured Payment Plan (Life Annuity with a Period Certain) is described in our Prospectus for Assured Growth Plan and Assured Payment Plan (Period Certain), dated April 17, 1995, as supplemented with the Assured Payment Plan (Life Annuity with a Period Certain) Supplement dated April 17, 1995 and a Supplement dated July 17, 1995. The Assured Payment Plan (Period Certain) is described in the same prospectus. Copies are available from your registered representative. - ------------------------------------------------------------------------------- Supplement Dated July 17, 1995 Filed Pursuant to Rule 424(b)(3) Registration File No.: 33-88456 INCOME MANAGER (SERVICE MARK) SUPPLEMENT TO THE ROLLOVER IRA PROSPECTUS DATED APRIL 17, 1995 AS SUPPLEMENTED WITH THE IRA ASSURED PAYMENT OPTION SUPPLEMENT DATED APRIL 17, 1995 Combination Variable and Fixed Deferred Annuity Certificates Issued By: The Equitable Life Assurance Society of the United States - ------------------------------------------------------------------------------- Provisions of the IRA Assured Payment Option supplement are amended as follows: In the supplement under the heading IRA Assured Payment Option in the first sentence of the first paragraph delete the information in the first set of parentheses and insert the following after the first sentence: The IRA Assured Payment Option may be elected if you are between ages 59 1/2 through 83. It may also be elected at ages as young as 54 1/2 provided payments do not start before you attain age 59 1/2. Also under the above heading in the last sentence of the second paragraph, after the word "forth" insert the words "below and." The following is inserted with a subheading after the second paragraph under the heading IRA Assured Payment Option: Contributions under the IRA Assured Payment Option "Regular" IRA contributions may no longer be made for the taxable year in which you attain age 70 1/2 and thereafter. If the IRA Assured Payment Option is elected at any time before you attain age 79, rollover and direct transfer contributions may be made at any time before you attain age 79. If the IRA Assured Payment Option is elected at any time between the attained ages of 79 and 83, rollover and direct transfer contributions may be made at any time before you attain age 84. However, any amount contributed after you attain 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. Under the subheading Payments, insert the following after the end of the paragraph: You may elect to receive payments starting February 15th of 1996, or you may elect to defer receiving level payments until 1997, 1998, 1999, 2000 or 2001.* For increasing payments you may elect to defer payments only until 1999.* Before you elect to defer the date your payments will start, you should consider the consequences of this decision on the requirement that you take minimum distributions each calendar year with respect to the value of your IRA. See "Required Minimum Distributions" in Part 8. * Ability to defer the payment start date may not be available in all states. Under the subheading Fixed Period, the third sentence of the paragraph is replaced with the following: For Annuitant ages 71 through 78 the maximum fixed period is 85 less the issue age. For Annuitant ages 79 through 83, only a seven year fixed period is permitted for level payments and a six year fixed period for increasing payments. The minimum and maximum fixed period permitted will be reduced by each year you defer the date payments will start. - ------------------------------------------------------------------------------- Supplement Dated July 17, 1995 Under the subheading Guarantee Periods, delete the second sentence. Under the subheading Election Restrictions under Joint and Survivor, for item (ii) of the paragraph, replace age "78" with age "83." After the paragraph under the heading Lump Sum Withdrawals, insert the following with a subheading: Minimum Distribution Withdrawals Minimum Distribution Withdrawals may not be elected while the IRA Assured Payment Option is in effect. The following is inserted at the end of the first paragraph under the subheading Termination of the IRA Assured Payment Option: If you elected the IRA Assured Payment Option at age 79 or older and subsequently terminate this Option, annuity payments must commence no later than the calendar year in which you attain age 90. Provisions of the Rollover IRA prospectus are amended as follows: In Part 1: Summary under the heading Withdrawals, the following is inserted after the second bullet point: Substantially Equal Payment Withdrawals -- If you are below age 59 1/2, this withdrawal option is designed to allow you to withdraw funds annually and not have a 10% penalty tax apply. This is accomplished by distribution of substantially equal periodic payments over your life expectancy or over the joint life expectancies of you and your spouse. If you change or stop such distributions before the later of age 59 1/2 or five years from the date of the first distribution, the 10% penalty tax may apply. Substantially Equal Payment Withdrawals are not subject to withdrawal charges. In Part 5: Provisions of the Certificates and Services We Provide under the heading Withdrawals, replace the third sentence of the first paragraph with the following: Three withdrawal options are available: Lump Sum Withdrawals, Minimum Distribution Withdrawals and Substantially Equal Payment Withdrawals. Under the same heading, the following is inserted with a subheading after the last paragraph of this section: Substantially Equal Payment Withdrawals Substantially Equal Payment Withdrawals provide distributions from the Annuity Account Value of the amounts necessary so that the 10% penalty tax, normally applicable to distributions made prior to age 59 1/2, does not apply. See "Penalty Tax on Early Distributions," in Part 8. Once distributions begin, they should not be changed or stopped until the later of age 59 1/2 or five years from the date of the first distribution. If you change or stop the distributions or take a Lump Sum Withdrawal, you may be liable for the 10% penalty tax that would have otherwise been due on all prior distributions made under this option and for any interest thereon. Substantially Equal Payment Withdrawals may be elected at any time if you are below age 59 1/2. You can elect this option by submitting the proper form. You select the day and the month when the first withdrawal will be made, but it may not be sooner than 28 days after issue of the Certificate. In no event may you elect to receive the first payment in the same Contract Year in which a Lump Sum Withdrawal was taken. We will calculate the amount of the distribution under a method we select and payments will be made quarterly or annually as you select. These payments will continue to be made until we receive written notice from you to cancel this option. Such notice must be received at our Processing Office at least seven calendar days prior to the next scheduled withdrawal date. A Lump Sum Withdrawal taken while Substantially Equal Payment Withdrawals are in effect, will cancel such withdrawals. You may elect to start receiving Substantially Equal Payment Withdrawals again, but in no event can the payments start in the same Contract Year in which the Lump Sum Withdrawal was taken. We will calculate a new distribution amount. Unless you specify otherwise, Substantially Equal Payment Withdrawals will be withdrawn on a pro rata basis from your Annuity Account Value in the Investment Funds. If there is insufficient value or no value in the Investment Funds, any additional amount of the withdrawal or the total amount of the withdrawal, as applicable, will be withdrawn from the Guarantee Periods in order of the earliest Expiration Date(s) first. Substantially Equal Payment Withdrawals are not subject to a withdrawal charge. Under the heading Death Benefit, Guaranteed Minimum Death Benefit (GMDB) replace the paragraph for item (2) with the following: (2) Interest will be calculated at the applicable effective annual GMDB interest rate for your "attained age" (your age at issue of the Certificate plus the number of Contract Years that have elapsed since the Contract Date, see table below) taking into account contributions, transfers and withdrawals during the Contract Year, except with respect to amounts in the Money Market Fund and the Intermediate Government Securities Fund where the interest credit will be based on the lesser of the actual rate of return for the Money Market Fund for the period such amounts are invested and the GMDB interest rate below. In Part 8: Tax Aspects of the Certificates under the heading Penalty Tax on Early Distributions, begin a new paragraph after the first sentence and add the following at the end of the new second paragraph: To permit you to meet this exception, Equitable Life has designed Substantially Equal Payment Withdrawals described in Part 5. If you are a Rollover IRA Certificate Owner who will be under age 59 1/2 as of the date the first payment is expected to be received and you choose Substantially Equal Payment Withdrawals, Equitable Life will calculate the substantially equal annual payments under a method we will select based on guidelines issued by the IRS (currently contained in IRS Notice 89-25, Question and Answer 12). Although Substantially Equal Payment Withdrawals are not subject to the 10% penalty tax, they are taxable as discussed in "Distributions from IRA Certificates," in this Part 8. Once Substantially Equal Payment Withdrawals begin, the distributions should not be stopped or changed until the later of your attaining age 59 1/2 or five years after the date of the first distribution, or the penalty tax, including an interest charge for the prior penalty avoidance, may apply. Also, it is possible that the IRS could view any additional withdrawal or payment you take from your Certificate as changing your pattern of Substantially Equal Payment Withdrawals for purposes of determining whether the penalty applies. Filed Pursuant to Rule 424(b)(3) Registration File No.: 33-88456 INCOME MANAGER (SERVICE MARK) SUPPLEMENT TO THE ROLLOVER IRA PROSPECTUS DATED APRIL 17, 1995 AS SUPPLEMENTED WITH THE IRA ASSURED PAYMENT OPTION SUPPLEMENT DATED APRIL 17, 1995 Issued By: The Equitable Life Assurance Society of the United States - ------------------------------------------------------------------------------- Provisions of the IRA Assured Payment Option supplement are amended as follows: In the supplement under the heading IRA Assured Payment Option in the first sentence of the first paragraph delete the information in the first set of parentheses and insert the following after the first sentence: The IRA Assured Payment Option may be elected if you are between ages 59 1/2 through 83. It may also be elected at ages as young as 54 1/2 provided payments do not start before you attain age 59 1/2. Also under the above heading in the last sentence of the second paragraph, after the word "forth" insert the words "below and." The following is inserted with a subheading after the second paragraph under the heading IRA Assured Payment Option: Contributions under the IRA Assured Payment Option "Regular" IRA contributions may no longer be made for the taxable year in which you attain age 70 1/2 and thereafter. If the IRA Assured Payment Option is elected at any time before you attain age 79, rollover and direct transfer contributions may be made at any time before you attain age 79. If the IRA Assured Payment Option is elected at any time between the attained ages of 79 and 83, rollover and direct transfer contributions may be made at any time before you attain age 84. However, any amount contributed after you attain 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. Under the subheading Payments, insert the following after the end of the paragraph: You may elect to receive payments starting February 15th of 1996, or you may elect to defer receiving level payments until 1997, 1998, 1999, 2000 or 2001.* For increasing payments you may elect to defer payments only until 1999.* Before you elect to defer the date your payments will start, you should consider the consequences of this decision on the requirement that you take minimum distributions each calendar year with respect to the value of your IRA. See "Required Minimum Distributions" in Part 8. * Ability to defer the payment start date may not be available in all states. Under the subheading Fixed Period, the third sentence of the paragraph is replaced with the following: For Annuitant ages 71 through 78 the maximum fixed period is 85 less the issue age. For Annuitant ages 79 through 83, only a seven year fixed period is permitted for level payments and a six year fixed period for increasing payments. The minimum and maximum fixed period permitted will be reduced by each year you defer the date payments will start. - ------------------------------------------------------------------------------- Supplement Dated July 17, 1995 Under the subheading Guarantee Periods, delete the second sentence. Under the subheading Election Restrictions under Joint and Survivor, for item (ii) of the paragraph, replace age "78" with age "83." After the paragraph under the heading Lump Sum Withdrawals, insert the following with a subheading: Minimum Distribution Withdrawals Minimum Distribution Withdrawals may not be elected while the IRA Assured Payment Option is in effect. The following is inserted at the end of the first paragraph under the subheading Termination of the IRA Assured Payment Option: If you elected the IRA Assured Payment Option at age 79 or older and subsequently terminate this Option, annuity payments must commence no later than the calendar year in which you attain age 90. Provisions of the Rollover IRA prospectus are amended as follows: In Part 1: Summary under the heading Withdrawals, the following is inserted after the second bullet point: Substantially Equal Payment Withdrawals -- If you are below age 59 1/2, this withdrawal option is designed to allow you to withdraw funds annually and not have a 10% penalty tax apply. This is accomplished by distribution of substantially equal periodic payments over your life expectancy or over the joint life expectancies of you and your spouse. If you change or stop such distributions before the later of age 59 1/2 or five years from the date of the first distribution, the 10% penalty tax may apply. Substantially Equal Payment Withdrawals are not subject to withdrawal charges. In Part 5: Provisions of the Certificates and Services We Provide under the heading Withdrawals, replace the third sentence of the first paragraph with the following: Three withdrawal options are available: Lump Sum Withdrawals, Minimum Distribution Withdrawals and Substantially Equal Payment Withdrawals. Under the same heading, the following is inserted with a subheading after the last paragraph of this section: Substantially Equal Payment Withdrawals Substantially Equal Payment Withdrawals provide distributions from the Annuity Account Value of the amounts necessary so that the 10% penalty tax, normally applicable to distributions made prior to age 59 1/2, does not apply. See "Penalty Tax on Early Distributions," in Part 8. Once distributions begin, they should not be changed or stopped until the later of age 59 1/2 or five years from the date of the first distribution. If you change or stop the distributions or take a Lump Sum Withdrawal, you may be liable for the 10% penalty tax that would have otherwise been due on all prior distributions made under this option and for any interest thereon. Substantially Equal Payment Withdrawals may be elected at any time if you are below age 59 1/2. You can elect this option by submitting the proper form. You select the day and the month when the first withdrawal will be made, but it may not be sooner than 28 days after issue of the Certificate. In no event may you elect to receive the first payment in the same Contract Year in which a Lump Sum Withdrawal was taken. We will calculate the amount of the distribution under a method we select and payments will be made quarterly or annually as you select. These payments will continue to be made until we receive written notice from you to cancel this option. Such notice must be received at our Processing Office at least seven calendar days prior to the next scheduled withdrawal date. A Lump Sum Withdrawal taken while Substantially Equal Payment Withdrawals are in effect, will cancel such withdrawals. You may elect to start receiving Substantially Equal Payment Withdrawals again, but in no event can the payments start in the same Contract Year in which the Lump Sum Withdrawal was taken. We will calculate a new distribution amount. Unless you specify otherwise, Substantially Equal Payment Withdrawals will be withdrawn on a pro rata basis from your Annuity Account Value in the Investment Funds. If there is insufficient value or no value in the Investment Funds, any additional amount of the withdrawal or the total amount of the withdrawal, as applicable, will be withdrawn from the Guarantee Periods in order of the earliest Expiration Date(s) first. Substantially Equal Payment Withdrawals are not subject to a withdrawal charge. In Part 8: Tax Aspects of the Certificates under the heading Penalty Tax on Early Distributions, begin a new paragraph after the first sentence and add the following at the end of the new second paragraph: To permit you to meet this exception, Equitable Life has designed Substantially Equal Payment Withdrawals described in Part 5. If you are a Rollover IRA Certificate Owner who will be under age 59 1/2 as of the date the first payment is expected to be received and you choose Substantially Equal Payment Withdrawals, Equitable Life will calculate the substantially equal annual payments under a method we will select based on guidelines issued by the IRS (currently contained in IRS Notice 89-25, Question and Answer 12). Although Substantially Equal Payment Withdrawals are not subject to the 10% penalty tax, they are taxable as discussed in "Distributions from IRA Certificates," in this Part 8. Once Substantially Equal Payment Withdrawals begin, the distributions should not be stopped or changed until the later of your attaining age 59 1/2 or five years after the date of the first distribution, or the penalty tax, including an interest charge for the prior penalty avoidance, may apply. Also, it is possible that the IRS could view any additional withdrawal or payment you take from your Certificate as changing your pattern of Substantially Equal Payment Withdrawals for purposes of determining whether the penalty applies. Filed Pursuant to Rule 424(b)(3) Registration File No.: 33-88456 INCOME MANAGER (SERVICE MARK) SUPPLEMENT TO THE PROSPECTUS FOR ASSURED GROWTH PLAN AND ASSURED PAYMENT PLAN (Period Certain) DATED APRIL 17, 1995 Annuity Certificates Issued By: The Equitable Life Assurance Society of the United States - ------------------------------------------------------------------------------- In the prospectus, Part 5: Provisions of the Certificates and Services We Provide is amended as follows: Under the subheading Income Annuity Options, Annuity Forms, the following information is inserted after the last bullet point: If you are the Owner and Annuitant of an Assured Growth Plan Certificate, you may at any time, apply your Annuity Account Value to purchase the Assured Payment Plan (Life Annuity with a Period Certain), provided you meet the issue age and payment restrictions for an Assured Payment Plan. If the Annuity Account Value is applied from an Assured Growth Plan Certificate to purchase the Assured Payment Plan at a time when the dollar amount of the withdrawal charge is greater than 2% of remaining contributions (after withdrawals), such withdrawal charge will not be deducted. However, a new withdrawal charge schedule will apply under the Assured Payment Plan. For purposes of the Assured Payment Plan withdrawal charge schedule, the year in which your Annuity Account Value is applied under the Assured Payment Plan will be "Contract Year 1." If the Annuity Account Value is applied from the Assured Growth Plan when the dollar amount of the withdrawal charge is 2% or less, there will be no withdrawal charge schedule under the Assured Payment Plan. You should consider the timing of your purchase as it relates to the potential for withdrawal charges under the Assured Payment Plan. No subsequent contributions will be permitted under the Assured Payment Plan Certificate. You may also apply your Annuity Account Value to purchase the Assured Payment Plan (Period Certain) once withdrawal charges under the Assured Growth Plan are no longer in effect. No withdrawal charges will apply under the Assured Payment Plan Certificate. The Assured Payment Plan (Life Annuity with a Period Certain) is described in our Prospectus for Assured Growth Plan and Assured Payment Plan (Period Certain), dated April 17, 1995, as supplemented with the Assured Payment Plan (Life Annuity with a Period Certain) Supplement dated April 17, 1995 and a Supplement dated July 17, 1995. Copies are available from your registered representative. - ------------------------------------------------------------------------------- Supplement Dated July 17, 1995 Filed Pursuant to Rule 424(b)(3) Registration File No.: 33-88456 INCOME MANAGER (SERVICE MARK) SUPPLEMENT TO THE PROSPECTUS FOR ASSURED GROWTH PLAN AND ASSURED PAYMENT PLAN (Period Certain) DATED APRIL 17, 1995 AS SUPPLEMENTED WITH THE ASSURED PAYMENT PLAN (Life Annuity with a Period Certain) SUPPLEMENT DATED APRIL 17, 1995 Annuity Certificates Issued By: The Equitable Life Assurance Society of the United States - ------------------------------------------------------------------------------- Provisions of the Assured Payment Plan (Life Annuity with a Period Certain) supplement are amended as follows: The following subsection is inserted after the second paragraph of the above section: Contributions Your initial contribution must be at least $10,000. You may make subsequent contributions of at least $1,000 at any time up until 45 days before the Annuity Commencement Date. However, if your Assured Payment Plan resulted from an election under the Income Annuity Options, no subsequent contributions are permitted. Under the subheading Allocation of Contribution, insert the word "initial" in front of the word "contribution" in the first and third lines of the paragraph. Insert the following sentence at the end of the paragraph: Any subsequent contributions will also be allocated by us to the Guarantee Periods and the Life Contingent Annuity. The following is inserted after the information under the heading Lump Sum Withdrawals: Withdrawal Charge A withdrawal charge will be imposed as a percentage of each contribution for Lump Sum Withdrawals, or if the Certificate is surrendered to receive the Cash Value. We determine the withdrawal charge separately for each contribution in accordance with the table in the prospectus. The applicable withdrawal charge is determined by the Contract Year in which the Lump Sum Withdrawal is made or the Certificate is surrendered, beginning with "Contract Year 1" with respect to each contribution withdrawn or surrendered. For purposes of the table, for each contribution, the Contract Year in which we receive that contribution is "Contract Year 1." - ------------------------------------------------------------------------------- Supplement Dated July, 1995 A Certificate Owner of the Assured Growth Plan or certain other INCOME MANAGER Certificates that we offer may apply the Annuity Account Value to purchase the Assured Payment Plan (Life Annuity with a Period Certain) provided the issue age and payment restrictions for the Assured Payment Plan are met. If the Annuity Account Value is applied from an Assured Growth Plan or other Certificate to purchase the Assured Payment Plan at a time when the dollar amount of the withdrawal charge is greater than 2% of remaining contributions (after withdrawals), such withdrawal charge will not be deducted. However, a new withdrawal charge schedule will apply under the Assured Payment Plan. For purposes of the Assured Payment Plan withdrawal charge schedule, the year in which your Annuity Account Value is applied under the Assured Payment Plan will be "Contract Year 1." If the Annuity Account Value is applied from the Assured Growth Plan or other Certificate when the dollar amount of the withdrawal charge is 2% or less, there will be no withdrawal charge schedule under the Assured Payment Plan. You should consider the timing of your purchase as it relates to the potential for withdrawal charges under the Assured Payment Plan. No subsequent contributions will be permitted under the Assured Payment Plan Certificate. In Part 3: Provisions of the Assured Growth Plan and Assured Payment Plan under the section on the Assured Payment Plan (Period Certain), under the subheading Withdrawal Charge, replace the sixth paragraph with the following: A Certificate Owner of the Assured Growth Plan or certain other INCOME MANAGER Certificates that we offer may apply the Annuity Account Value to purchase the Assured Payment Plan (Period Certain) once withdrawal charges are no longer in effect under the Assured Growth Plan or such other INCOME MANAGER Certificates. No withdrawal charges will apply under the Assured Payment Plan Certificate. -----END PRIVACY-ENHANCED MESSAGE-----