497(e)
333-31131
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES -- SUPPLEMENT DATED
OCTOBER 13, 2000 TO THE CURRENT PROSPECTUSES, SUPPLEMENTS TO PROSPECTUSES AND
STATEMENTS OF ADDITIONAL INFORMATION ("SAIS") FOR:
ACCUMULATOR(SM) ACCUMULATOR PLUS(SM) ACCUMULATOR SELECT(SM)
--------------------------------------------------------------------------------
This supplement modifies certain information in the above-referenced
prospectuses and SAIs, as supplemented to date (together, the "Prospectuses").
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.
PROTECTION PLUS DEATH BENEFIT
Subject to state availability, we now offer Protection Plus, an additional
optional death benefit for non-qualified contracts that may increase the death
benefit payable under your NQ contract. The cost of this optional benefit is
.20% of the account value annually. The following changes reflect the
availability of this new optional death benefit in the non-qualified market.
1. The following is added to the Prospectuses under "Equitable Accumulator at
a glance - key features"
Under "Additional features:"
o "Protection Plus," an optional death benefit available under NQ
contracts (subject to state availability)"
2. The following is added to and revised in the Prospectuses under "Fee
Table:"
(a) Under "Charges we deduct from your account value each year if you
elect the optional benefit":
"PROTECTION PLUS BENEFIT CHARGE (Calculated as a percentage of
the account value. Deducted annually on each contract date
anniversary) 0.20%"
(b) The fee table examples have been revised in their entirety to
reflect the 0.20% charge for the optional Protection Plus feature as
follows:
"The examples below show the expenses that a hypothetical contract
owner would pay in the situations illustrated. We assume that a $1,000
contribution is invested in one of the variable investment options
listed and a 5% annual return is earned on the assets in that option.
Other than as indicated in the next sentence, the charges used in the
examples are the maximum aggregate charges that can apply under any
contract to which this Supplement relates, including those that apply
to any optional features. (1) The annual administrative charge is
based on the charges that apply to a mix of estimated contract sizes,
resulting in an estimated administrative charge for the purpose of
these examples of $0.14 per $1,000. Please note that the charges that
would apply under your contract may be lower if: (i) your contract
does not have an annual administrative charge or surrender charges; or
(ii) the current charges under your contract are lower than the
maximum charges used in the examples below.
These examples 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 examples is not an estimate or guarantee of future investment
performance.
Protection Plus Supplement -EDI-1296360
Pros supp 20A(10/00)
<PAGE>
<TABLE>
<CAPTION>
IF YOU SURRENDER YOUR CONTRACT IF YOU DO NOT SURRENDER YOUR
AT THE END OF EACH PERIOD SHOWN CONTRACT AT THE END OF EACH
THE EXPENSES WOULD BE: PERIOD SHOWN THE EXPENSES WOULD BE:
1 Year 3 Years 5 Years 10 Years 1 Year 3 Years 5 Years 10 Years
-------------------------------------------------------------------------- -------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Alliance Common Stock $108.83 $158.43 $200.71 $336.67 $28.83 $91.22 $157.56 $336.67
-------------------------------------------------------------------------- -------------------------------------
Alliance High Yield $110.47 $163.31 $208.77 $351.52 $30.47 $95.89 $165.26 $351.52
-------------------------------------------------------------------------- -------------------------------------
Alliance Money Market $107.63 $154.84 $194.77 $325.64 $27.63 $87.78 $151.88 $325.64
-------------------------------------------------------------------------- -------------------------------------
Alliance Small Cap Growth $112.32 $168.82 $217.85 $368.07 $32.32 $101.17 $173.92 $368.07
-------------------------------------------------------------------------- -------------------------------------
Capital Guardian International $113.85 $173.34 $225.27 $381.49 $33.85 $105.51 $181.01 $381.49
-------------------------------------------------------------------------- -------------------------------------
Capital Guardian Research $111.12 $165.25 $211.98 $357.40 $31.12 $97.76 $168.32 $357.40
-------------------------------------------------------------------------- -------------------------------------
Capital Guardian U.S. Equity $111.12 $165.25 $211.98 $357.40 $31.12 $97.76 $168.32 $357.40
-------------------------------------------------------------------------- -------------------------------------
EQ/Aggressive Stock $110.36 $162.98 $208.24 $350.54 $30.36 $95.58 $164.75 $350.54
-------------------------------------------------------------------------- -------------------------------------
EQ/Alliance Premier Growth $113.31 $171.72 $222.63 $376.72 $33.31 $103.96 $178.49 $376.72
-------------------------------------------------------------------------- -------------------------------------
EQ/Alliance Technology $113.31 $171.72 $222.63 $376.72 $33.31 $103.96 $178.49 $376.72
-------------------------------------------------------------------------- -------------------------------------
EQ Equity 500 Index $106.64 $151.90 $189.88 $316.52 $26.64 $84.96 $147.21 $316.52
-------------------------------------------------------------------------- -------------------------------------
EQ/Janus Large Cap Growth $113.31 $171.72 $222.63 $376.72 $33.31 $103.96 $178.49 $376.72
-------------------------------------------------------------------------- -------------------------------------
EQ/Putnam Growth & Income Value $111.12 $165.25 $211.98 $357.40 $31.12 $97.76 $168.32 $357.40
-------------------------------------------------------------------------- -------------------------------------
EQ/Putnam International Equity $114.40 $174.95 $227.91 $386.23 $34.40 $107.05 $183.53 $386.23
-------------------------------------------------------------------------- -------------------------------------
EQ/Putnam Investors Growth $111.12 $165.25 $211.98 $357.40 $31.12 $97.76 $168.32 $357.40
-------------------------------------------------------------------------- -------------------------------------
EQ International Equity Index $111.67 $166.87 $214.65 $362.26 $31.67 $99.31 $170.87 $362.26
-------------------------------------------------------------------------- -------------------------------------
EQ Small Company Index $108.94 $158.75 $201.25 $337.67 $28.94 $91.53 $158.07 $337.67
-------------------------------------------------------------------------- -------------------------------------
FI Mid Cap $111.67 $166.87 $214.65 $362.26 $31.67 $99.31 $170.87 $362.26
-------------------------------------------------------------------------- -------------------------------------
FI Small/Mid Cap Value $112.76 $170.11 $219.97 $371.93 $32.76 $102.41 $175.95 $371.93
-------------------------------------------------------------------------- -------------------------------------
JP Morgan Core Bond $109.48 $160.38 $203.94 $342.64 $29.48 $93.09 $160.64 $342.64
-------------------------------------------------------------------------- -------------------------------------
Lazard Large Cap Value $111.12 $165.25 $211.98 $357.40 $31.12 $97.76 $168.32 $357.40
-------------------------------------------------------------------------- -------------------------------------
Lazard Small Cap Value $112.76 $170.11 $219.97 $371.93 $32.76 $102.41 $175.95 $371.93
-------------------------------------------------------------------------- -------------------------------------
MFS Emerging Growth Companies $111.67 $166.87 $214.65 $362.26 $31.67 $99.31 $170.87 $362.26
-------------------------------------------------------------------------- -------------------------------------
MFS Growth with Income $111.12 $165.25 $211.98 $357.40 $31.12 $97.76 $168.32 $357.40
-------------------------------------------------------------------------- -------------------------------------
MFS Research $111.12 $165.25 $211.98 $357.40 $31.12 $97.76 $168.32 $357.40
-------------------------------------------------------------------------- -------------------------------------
Morgan Stanley Emerging Markets Equity $119.86 $190.98 $254.00 $432.34 $39.86 $122.41 $208.45 $432.34
-------------------------------------------------------------------------- -------------------------------------
</TABLE>
(1) The amount accumulated from the $1,000 contribution could not be paid in the
form of an annuity payout option at the end of any of the periods shown in the
examples. This is because if the amount applied to purchase an annuity payout
option is less than $2,000, or the initial payment is less than $20, we may pay
the amount to you in a single sum instead of payments under an annuity payout
option. See "Accessing your money."
3. A new section is added following "Guaranteed minimum death benefit" under
"Contract features and benefits" in the Prospectuses:
"PROTECTION PLUS
Subject to state availability, if you are purchasing an NQ contract, you
may elect the Protection Plus death benefit at the time you purchase your
NQ contract. Protection Plus provides an additional death benefit as
described below.
If the annuitant is 69 or younger when we issue your NQ Contract (or if the
successor owner/annuitant is 69 or younger when he or she becomes the
successor owner/annuitant), the death benefit will be:
the greater of:
o the account value or
o any applicable guaranteed minimum death benefit
INCREASED BY:
40% of the lesser of:
o the total net contributions OR
o the death benefit less total net contributions
Protection Plus Supplement - EDI-129360 2
<PAGE>
For purposes of calculating your Protection Plus benefit the following applies:
(i) "Net contributions" are the total contributions made (or, if applicable, the
total amount that would otherwise have been paid as a death benefit had the
successor owner/annuitant election not been made plus any subsequent
contributions) reduced on a pro rata basis to reflect withdrawals. Reduction on
a pro rata basis means that we calculate the percentage of the current account
value that is being withdrawn and we reduce net contributions by that
percentage. For example, if the account value is $30,000 and you withdraw
$12,000, you have withdrawn 40% of your account value. If contributions
aggregated $40,000 before the withdrawal, it would be reduced by $16,000
($40,000 x .40) and net contributions after the withdrawal would be $24,000
($40,000-$16,000); (ii) "Death benefit" is equal to the greater of the account
value as of the date we receive satisfactory proof of death or any applicable
guaranteed minimum death benefit as of the date of death.
If the annuitant is between the ages of 70 and 75 when we issue your NQ Contract
(or if the successor owner/annuitant is between the ages of 70 and 75 when he or
she becomes the successor owner/annuitant), the death benefit will be:
the greater of:
o the account value or
o any applicable guaranteed minimum death benefit
INCREASED BY:
25% of the lesser of:
o the total net contributions (as described above) or
o the death benefit (as described above) less total net
contributions
4. The following is added under "Charges and expenses" in the Prospectuses:
(a) The following is added to the second paragraph under "Charges that
Equitable Life deducts" to indicate that when the charge for
Protection Plus is deducted, we reduce the number of units credited to
your contract.
o "A charge for Protection Plus, if you elect this optional
benefit."
(b) The following new section is added before "Charges for state premium
and other applicable taxes:"
"PROTECTION PLUS
If you elect Protection Plus, we deduct a charge annually from your
account value on each contract date anniversary. The charge is equal to
0.20% of the account value on each contract date anniversary. We will
deduct this charge from your value in the variable investment options
on a pro rata basis."
[APPLICABLE ONLY TO ACCUMULATOR AND ACCUMULATOR SELECT:]
"If there is not enough value in the variable investment options, we
will deduct all or a portion of the charge from the fixed maturity
options in the order of the earliest maturity dates first. A market
value adjustment may apply."
5. The following is added as the first sentence in the last paragraph
under "Your contract's value in the variable investment options" in
the Prospectuses:
Protection Plus Supplement - EDI-129360 3
<PAGE>
"Also, when we deduct the Protection Plus benefit charge the number of
units credited to your contract will be reduced."
6. The following is added as the second paragraph in "Payments made
before annuity payments begin" under "Taxation of nonqualified
annuities" in "Tax Information" in the Prospectuses:
"In order to enhance the amount of the death benefit to be paid at the
Annuitant's death, you may purchase a Protection Plus rider for your contract.
Although we regard this benefit as an investment protection feature which should
have no adverse tax effect, it is possible that the IRS could take a contrary
position and assert that some portion of the charges for the Protection Plus
rider should be treated for federal income tax purposes as a partial withdrawal
from the contract. If this were so, such a deemed withdrawal could be taxable,
and for contract owners under age 59 1/2, also subject to a tax penalty."
Protection Plus Supplement - EDI-129360 4
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES -- SUPPLEMENT DATED
OCTOBER 13, 2000 TO THE CURRENT PROSPECTUSES, SUPPLEMENTS TO PROSPECTUSES AND
STATEMENTS OF ADDITIONAL INFORMATION ("SAIS") FOR:
ACCUMULATOR(SM) ACCUMULATOR PLUS (SM) ACCUMULATOR SELECT(SM)
--------------------------------------------------------------------------------
This supplement modifies certain information in the above-referenced
prospectuses and SAIs, as supplemented to date (together, the "Prospectuses").
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.
PROTECTION PLUS DEATH BENEFIT
Subject to state availability, we now offer Protection Plus, an additional
optional death benefit for non-qualified contracts that may increase the death
benefit payable under your NQ contract. The cost of this optional benefit is
.20% of the account value annually. The following changes reflect the
availability of this new optional death benefit in the non-qualified market.
1. The following is added to the Prospectuses under "Equitable Accumulator at
a glance - key features"
Under "Additional features:"
o "Protection Plus," an optional death benefit available under NQ
contracts (subject to state availability)"
2. The following is added to and revised in the Prospectuses under "Fee Table:"
(a) Under "Charges we deduct from your account value each year if you
elect the optional benefit":
"PROTECTION PLUS BENEFIT CHARGE (Calculated as a percentage
of the account value. Deducted annually on each contract date
anniversary) 0.20%"
(b) The fee table examples have been revised in their entirety to
reflect the 0.20% charge for the optional Protection Plus feature as
follows:
"The examples below show the expenses that a hypothetical contract owner
would pay in the situations illustrated. We assume that a $1,000
contribution is invested in one of the variable investment options
listed and a 5% annual return is earned on the assets in that option.
Other than as indicated in the next sentence, the charges used in the
examples are the maximum aggregate charges that can apply under any
contract to which this Supplement relates, including those that apply to
any optional features.(1) The annual administrative charge is based on
the charges that apply to a mix of estimated contract sizes, resulting
in an estimated administrative charge for the purpose of these examples
of $0.14 per $1,000. Please note that the charges that would apply under
your contract may be lower if: (i) your contract does not have an annual
administrative charge or surrender charges; or (ii) the current charges
under your contract are lower than the maximum charges used in the
examples below.
These examples 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
examples is not an estimate or guarantee of future investment
performance.
Protection Plus-MLEDI-130884
Pros supp 20A MLF
<PAGE>
<TABLE>
<CAPTION>
IF YOU SURRENDER YOUR CONTRACT IF YOU DO NOT SURRENDER YOUR
AT THE END OF EACH PERIOD SHOWN CONTRACT AT THE END OF EACH
THE EXPENSES WOULD BE: PERIOD SHOWN THE EXPENSES WOULD BE:
<S> <C> <C> <C> <C> <C> <C> <C> <C>
1 Year 3 Years 5 Years 10 Years 1 Year 3 Years 5 Years 10 Years
-------------------------------------------------------------------------------------------------------------------
Alliance Common Stock $108.83 $158.43 $200.71 $336.67 $28.83 $91.22 $157.56 $336.67
-------------------------------------------------------------------------------------------------------------------
Alliance High Yield $110.47 $163.31 $208.77 $351.52 $30.47 $95.89 $165.26 $351.52
-------------------------------------------------------------------------------------------------------------------
Alliance Money Market $107.63 $154.84 $194.77 $325.64 $27.63 $87.78 $151.88 $325.64
-------------------------------------------------------------------------------------------------------------------
Alliance Small Cap Growth $112.32 $168.82 $217.85 $368.07 $32.32 $101.17 $173.92 $368.07
-------------------------------------------------------------------------------------------------------------------
Capital Guardian International $113.85 $173.34 $225.27 $381.49 $33.85 $105.51 $181.01 $381.49
-------------------------------------------------------------------------------------------------------------------
Capital Guardian Research $111.12 $165.25 $211.98 $357.40 $31.12 $97.76 $168.32 $357.40
-------------------------------------------------------------------------------------------------------------------
Capital Guardian U.S. Equity $111.12 $165.25 $211.98 $357.40 $31.12 $97.76 $168.32 $357.40
-------------------------------------------------------------------------------------------------------------------
EQ/Aggressive Stock $110.36 $162.98 $208.24 $350.54 $30.36 $95.58 $164.75 $350.54
-------------------------------------------------------------------------------------------------------------------
EQ/Alliance Premier Growth $113.31 $171.72 $222.63 $376.72 $33.31 $103.96 $178.49 $376.72
-------------------------------------------------------------------------------------------------------------------
EQ/Alliance Technology $113.31 $171.72 $222.63 $376.72 $33.31 $103.96 $178.49 $376.72
-------------------------------------------------------------------------------------------------------------------
EQ Equity 500 Index $106.64 $151.90 $189.88 $316.52 $26.64 $84.96 $147.21 $316.52
-------------------------------------------------------------------------------------------------------------------
EQ/Evergreen $111.12 $165.25 $211.98 $357.40 $31.12 $97.76 $168.32 $357.40
-------------------------------------------------------------------------------------------------------------------
EQ/Evergreen Foundation $111.12 $165.25 $211.98 $357.40 $31.12 $97.76 $168.32 $357.40
-------------------------------------------------------------------------------------------------------------------
EQ/Janus Large Cap Growth $113.31 $171.72 $222.63 $376.72 $33.31 $103.96 $178.49 $376.72
-------------------------------------------------------------------------------------------------------------------
EQ/Putnam Growth & Income Value $111.12 $165.25 $211.98 $357.40 $31.12 $97.76 $168.32 $357.40
-------------------------------------------------------------------------------------------------------------------
EQ/Putnam International Equity $114.40 $174.95 $227.91 $386.23 $34.40 $107.05 $183.53 $386.23
-------------------------------------------------------------------------------------------------------------------
EQ/Putnam Investors Growth $111.12 $165.25 $211.98 $357.40 $31.12 $97.76 $168.32 $357.40
-------------------------------------------------------------------------------------------------------------------
EQ International Equity Index $111.67 $166.87 $214.65 $362.26 $31.67 $99.31 $170.87 $362.26
-------------------------------------------------------------------------------------------------------------------
EQ Small Company Index $108.94 $158.75 $201.25 $337.67 $28.94 $91.53 $158.07 $337.67
-------------------------------------------------------------------------------------------------------------------
FI Mid Cap $111.67 $166.87 $214.65 $362.26 $31.67 $99.31 $170.87 $362.26
-------------------------------------------------------------------------------------------------------------------
FI Small/Mid Cap Value $112.76 $170.11 $219.97 $371.93 $32.76 $102.41 $175.95 $371.93
-------------------------------------------------------------------------------------------------------------------
JP Morgan Core Bond $109.48 $160.38 $203.94 $342.64 $29.48 $93.09 $160.64 $342.64
-------------------------------------------------------------------------------------------------------------------
Lazard Large Cap Value $111.12 $165.25 $211.98 $357.40 $31.12 $97.76 $168.32 $357.40
-------------------------------------------------------------------------------------------------------------------
Lazard Small Cap Value $112.76 $170.11 $219.97 $371.93 $32.76 $102.41 $175.95 $371.93
-------------------------------------------------------------------------------------------------------------------
MFS Emerging Growth Companies $111.67 $166.87 $214.65 $362.26 $31.67 $99.31 $170.87 $362.26
-------------------------------------------------------------------------------------------------------------------
MFS Growth with Income $111.12 $165.25 $211.98 $357.40 $31.12 $97.76 $168.32 $357.40
-------------------------------------------------------------------------------------------------------------------
MFS Research $111.12 $165.25 $211.98 $357.40 $31.12 $97.76 $168.32 $357.40
-------------------------------------------------------------------------------------------------------------------
Mercury Basic Value Equity $111.12 $165.25 $211.98 $357.40 $31.12 $97.76 $168.32 $357.40
-------------------------------------------------------------------------------------------------------------------
Mercury World Strategy $113.85 $173.34 $225.27 $381.49 $33.85 $105.51 $181.01 $381.49
-------------------------------------------------------------------------------------------------------------------
Morgan Stanley Emerging Markets Equity $119.86 $190.98 $254.00 $432.34 $39.86 $122.41 $208.45 $432.34
-------------------------------------------------------------------------------------------------------------------
</TABLE>
(1)The amount accumulated from the $1,000 contribution could not be paid in the
form of an annuity payout option at the end of any of the periods shown in the
examples. This is because if the amount applied to purchase an annuity payout
option is less than $2,000, or the initial payment is less than $20, we may pay
the amount to you in a single sum instead of payments under an annuity payout
option. See "Accessing your money."
3. A new section is added following "Guaranteed minimum death benefit" under
"Contract features and benefits" in the Prospectuses:
"PROTECTION PLUS
Subject to state availability, if you are purchasing an NQ contract, you
may elect the Protection Plus death benefit at the time you purchase your
NQ contract. Protection Plus provides an additional death benefit as
described below.
If the annuitant is 69 or younger when we issue your NQ Contract (or if the
successor owner/annuitant is 69 or younger when he or she becomes the
successor owner/annuitant), the death benefit will be:
the greater of:
o the account value or
o any applicable guaranteed minimum death benefit
INCREASED BY:
Protection Plus-MLEDI-130884
2
<PAGE>
40% of the lesser of:
o the total net contributions OR
o the death benefit less total net contributions
For purposes of calculating your Protection Plus benefit the following
applies: (i) "Net contributions" are the total contributions made ( or, if
applicable, the total amount that would otherwise have been paid as a death
benefit had the successor owner/annuitant election not been made plus any
subsequent contributions) reduced on a pro rata basis to reflect withdrawals.
Reduction on a pro rata basis means that we calculate the percentage of the
current account value that is being withdrawn and we reduce net contributions by
that percentage. For example, if the account value is $30,000 and you withdraw
$12,000, you have withdrawn 40% of your account value. If contributions
aggregated $40,000 before the withdrawal, it would be reduced by $16,000
($40,000 x .40) and net contributions after the withdrawal would be $24,000
($40,000-$16,000); (ii) "Death benefit" is equal to the greater of the account
value as of the date we receive satisfactory proof of death or any applicable
guaranteed minimum death benefit as of the date of death.
If the annuitant is between the ages of 70 and 75 when we issue your NQ Contract
(or if the successor owner/annuitant is between the ages of 70 and 75 when he or
she becomes the successor owner/annuitant), the death benefit will be:
the greater of:
o the account value or
o any applicable guaranteed minimum death benefit
INCREASED BY:
25% of the lesser of:
o the total net contributions (as described above) or
o the death benefit (as described above) less total net contributions
4. The following is added under "Charges and expenses" in the Prospectuses:
(a) The following is added to the second paragraph under "Charges that
Equitable Life deducts" to indicate that when the charge for Protection
Plus is deducted, we reduce the number of units credited to your
contract.
o "A charge for Protection Plus, if you elect this optional benefit."
(b) The following new section is added before "Charges for state premium
and other applicable taxes:"
"PROTECTION PLUS
If you elect Protection Plus, we deduct a charge annually from your
account value on each contract date anniversary. The charge is equal to
0.20% of the account value on each contract date anniversary. We will
deduct this charge from your value in the variable investment options
on a pro rata basis."
[APPLICABLE ONLY TO ACCUMULATOR AND ACCUMULATOR SELECT :]
"If there is not enough value in the variable investment options, we
will deduct all or a portion of the charge from the fixed maturity
options in the order of the earliest maturity dates first. A market
value adjustment may apply."
Protection Plus-MLEDI-130884
3
<PAGE>
5. The following is added as the first sentence in the last paragraph under
"Your contract's value in the variable investment options" in the
Prospectuses:
"Also, when we deduct the Protection Plus benefit charge the number of
units credited to your contract will be reduced."
6. The following is added as the second paragraph in "Payments made before
annuity payments begin" under "Taxation of nonqualified annuities" in "Tax
Information" in the Prospectuses:
"In order to enhance the amount of the death benefit to be paid at the
Annuitant's death, you may purchase a Protection Plus rider for your contract.
Although we regard this benefit as an investment protection feature which should
have no adverse tax effect, it is possible that the IRS could take a contrary
position and assert that some portion of the charges for the Protection Plus
rider should be treated for federal income tax purposes as a partial withdrawal
from the contract. If this were so, such a deemed withdrawal could be taxable,
and for contract owners under age 59 1/2, also subject to a tax penalty."
Protection Plus-MLEDI-130884
4
