Aetna Inc.
151 Farmington Avenue
Hartford, CT 06156-3124
[AETNA LOGO] Julie E. Rockmore
[AETNA LETTERHEAD] Counsel
Law Division, TS31
Investments & Financial Services
June 21, 1999 (860) 273-4686
Fax: (860) 273-0385
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, DC 20549
Attention: Filing Desk
Re: Aetna Life Insurance and Annuity Company and its Variable Annuity Account C
Post-Effective Amendment No. 15 to Registration Statement on Form N-4
Prospectus Title: Multiple Sponsored Retirement Options
File Nos.: 333-01107* and 811-2513
Dear Sir or Madam:
We are submitting for filing, pursuant to Rule 485(a) of the Securities Act of
1933, Post-Effective Amendment No. 15 to the Registration Statement on Form N-4.
This filing describes Multiple Sponsored Retirement Options Variable Annuity
Contracts (the "Contracts"). This filing is being submitted on behalf of Aetna
Life Insurance and Annuity Company (the "Company") and its Variable Annuity
Account C (the "Separate Account").
The purpose of this filing is to include Series G of the Aetna GET Fund (GET G)
as an additional funding option, and to disclose that the Company will provide a
guarantee under the Contracts in connection with investments in GET G. As in
prior offerings of series of the GET Fund, the information about GET G is
contained in a supplement to the prospectus, due to the limited offering period
of the Fund.
Request for Selective Review: The Staff has previously reviewed language about a
similar guarantee in connection with the offering of Series E of the Aetna GET
Fund (Post-Effective Amendment No. 12 to the Registration Statement on Form N-4
for File No. 333-01107, as filed on February 4, 1999). The disclosure in this
filing is identical to the final disclosure for GET E contained in
Post-Effective Amendment No. 14 for File No. 333-01107, except for some
differences in the dates and some additional disclosure about the guarantee as
marked on the courtesy copy of this filing, which we are sending under separate
cover. Pursuant to Investment Company Release No. 13678 (February 15, 1984), we
are hereby requesting selective review of this filing. A post-effective
amendment on Form N-1A was filed pursuant to Rule 485(a) for the Aetna GET Fund
on June 15, 1999 to add "GET G" as a new series of that Fund.
It is proposed that this filing become effective on September 1, 1999.
If you have any questions, please call the undersigned at 860-273-4686 or Neil
McMurdie at 860-273-1672.
Sincerely,
/s/ Julie E. Rockmore
- ---------------------
Julie E. Rockmore
- --------
* Pursuant to Rule 429(a) under the Securities Act of 1933, Registrant has
included a combined prospectus under this Registration Statement which
includes all the information which would currently be required in a
prospectus relating to the securities covered by the following earlier
Registration Statements: 33-88720; 33-75964 (which had included a combined
prospectus for earlier Registration Statements: 33-75958, 33-75960, and
33-75994); 33-75986 (which had included a combined prospectus for earlier
Registration Statements: 33-75970, 33-75954, and 33-75956); 33-75982 (which
had included a combined prospectus for earlier Registration Statements:
33-75968, 33-75966, 33-75990, and the individual deferred compensation
contracts covered by Registration Statement No. 33-75992); and 33-91846
(which had included a combined prospectus for earlier Registration
Statement: 33-75976).
<PAGE>
As filed with the Securities and Exchange Registration No. 333-01107*
Commission on June 21, 1999 Registration No. 811-2513
- --------------------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-4
- --------------------------------------------------------------------------------
Post-Effective Amendment No. 15 To
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
and Amendment to
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940
- --------------------------------------------------------------------------------
Variable Annuity Account C of Aetna Life Insurance and Annuity Company
Aetna Life Insurance and Annuity Company
151 Farmington Avenue, TS31, Hartford, Connecticut 06156
Depositor's Telephone Number, including Area Code: (860) 273-4686
Julie E. Rockmore, Counsel
Aetna Life Insurance and Annuity Company
151 Farmington Avenue, TS31, Hartford, Connecticut 06156
(Name and Address of Agent for Service)
- --------------------------------------------------------------------------------
It is proposed that this filing will become effective:
------ 60 days after filing pursuant to paragraph (a)(1) of Rule 485
X on September 1, 1999 pursuant to paragraph (a)(1) of Rule 485
------
*Pursuant to Rule 429(a) under the Securities Act of 1933, Registrant has
included a combined prospectus under this Registration Statement which includes
all the information which would currently be required in a prospectus relating
to the securities covered by the following earlier Registration Statements:
33-88720; 33-75964 (which had included a combined prospectus for earlier
Registration Statements: 33-75958, 33-75960, and 33-75994); 33-75986 (which had
included a combined prospectus for earlier Registration Statements: 33-75970,
33-75954, and 33-75956); 33-75982 (which had included a combined prospectus for
earlier Registration Statements: 33-75968, 33-75966, 33-75990, and the
individual deferred compensation contracts covered by Registration Statement No.
33-75992); and 33-91846 (which had included a combined prospectus for earlier
Registration Statement: 33-75976).
<PAGE>
VARIABLE ANNUITY ACCOUNT C
CROSS REFERENCE SHEET
<TABLE>
<CAPTION>
LOCATION - PROSPECTUS DATED
MAY 3, 1999, AND AS AMENDED
FORM N-4 BY SUPPLEMENTS DATED MAY 3, 1999,
ITEM NO. PART A (PROSPECTUS) JUNE 1, 1999 AND SEPTEMBER 1, 1999
<S> <C> <C>
1 Cover Page........................................... Cover Page
2 Definitions.......................................... Not Applicable
3 Synopsis............................................. Contract Overview; Fee Tables
4 Condensed Financial Information...................... Condensed Financial Information;
Appendix VI - Condensed Financial Information
5 General Description of Registrant, Depositor, Other Topics - The Company, Variable Annuity
and Portfolio Companies.............................. Account C; Appendix V - Fund Descriptions
6 Deductions and Expenses.............................. Fees
7 General Description of Variable Annuity Contracts.... Contract Overview; Other Topics
8 Annuity Period....................................... Income Phase
9 Death Benefit........................................ Death Benefit
10 Purchases and Contract Value......................... Contract Purchase and Participation;
Your Account Value
11 Redemptions.......................................... Right to Cancel; Withdrawals;
Systematic Distribution Options
12 Taxes................................................ Taxation
13 Legal Proceedings.................................... Other Topics - Legal Matters and Proceedings
14 Table of Contents of the Statement of Statement of Additional Information -
Additional Information............................... Table of Contents
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FORM N-4 PART B (STATEMENT OF LOCATION - STATEMENT OF
ITEM NO. ADDITIONAL INFORMATION) ADDITIONAL INFORMATION
<S> <C> <C>
15 Cover Page........................................... Cover page
16 Table of Contents.................................... Table of Contents
17 General Information and History...................... General Information and History
18 Services............................................. General Information and History;
Independent Auditors
19 Purchase of Securities Being Offered................. Offering and Purchase of Contracts
20 Underwriters......................................... Offering and Purchase of Contracts
21 Calculation of Performance Data...................... Performance Data; Average Annual
Total Return Quotations
22 Annuity Payments..................................... Income Phase Payments
23 Financial Statements................................. Financial Statements
</TABLE>
Part C (Other Information)
--------------------------
Information required to be included in Part C is set forth under the appropriate
item, so numbered, in Part C to this Registration Statement.
<PAGE>
PARTS A AND B
The Prospectus and the Statement of Additional Information, each dated May 3,
1999 are incorporated in Parts A and B, respectively, of this Post-Effective
Amendment No. 15 by reference to Registrant's filing under Rule 497(c) filed on
May 6, 1999 (File No. 333-01107) and by reference to Prospectus Supplements
dated May 3, 1999 and June 1, 1999, as filed in Post-Effective Amendment No. 14
to the Registration Statement on Form N-4 (File No. 333-01107), as filed on May
24, 1999 and declared effective on June 1, 1999.
A Prospectus Supplement dated September 1, 1999 is included in Part A of this
Post-Effective Amendment.
<PAGE>
VARIABLE ANNUITY ACCOUNT C
VARIABLE ANNUITY ACCOUNT B
Aetna Life Insurance and Annuity Company
Supplement Dated September , 1999
to May 3, 1999 Prospectus or Contract Prospectus Summary
GENERAL DESCRIPTION OF GET G
Series G of the Aetna GET Fund (GET G) is an investment option that may be
available during the accumulation phase of the contract. Aetna Life Insurance
and Annuity Company (the Company or we) makes a guarantee, as described below,
when you direct money into GET G. Aeltus Investment Management, Inc. serves as
the investment adviser to GET G.
We will offer GET G shares only during its offering period, which is scheduled
to run from September 15, 1999 through the close of business on December 14,
1999. GET G may not be available under your contract, your plan or in your
state. Please read the GET G prospectus for a more complete description of GET
G, including its charges and expenses.
INVESTMENT OBJECTIVE OF GET G
GET G seeks to achieve maximum total return, without compromising a targeted
minimum rate of return, by participating in favorable equity market performance
during its guarantee period.
GET G's guarantee period runs from December 15, 1999 through December 14, 2004.
During the offering period, all GET G assets will be invested in money market
instruments, and during the guarantee period will be invested in a combination
of fixed income and equity securities.
THE GET FUND GUARANTEE
The guarantee period for GET G will end on December 14, 2004, which is GET G's
maturity date. The Company guarantees that the value of an accumulation unit of
the GET G subaccount under the contract on the maturity date (as valued after
the close of business on December 14, 2004), will not be less than its value as
determined after the close of business on the last day of the offering period.
If the value on the maturity date is lower than it was on the last day of the
offering period, we will transfer funds from our general account to the GET G
subaccount to make up the difference. This means that if you remain invested in
GET G until the maturity date, at the maturity date you will receive no less
than the value of your separate account investment directed to GET G as of the
last day of the offering period, less any maintenance fees or any amounts you
transfer or withdraw from the GET G subaccount. The value of dividends or
distributions made by GET G during the guarantee period are not included in the
guarantee, nor does the guarantee promise that you will earn the fund's targeted
minimum rate of return referred to in the investment objective.
If you withdraw or transfer funds from GET G before the maturity date, we will
process the transactions at the actual unit value next determined after we
receive your order. The guarantee will not apply to these amounts or to amounts
deducted as a maintenance fee, if applicable.
MATURITY DATE
Before the maturity date, we will send a notice to each contract holder or
participant who has amounts in GET G. This notice will remind you that the
maturity date is approaching and that you must choose other investment options
for your GET G amounts. If you do not make a choice, on the maturity date we
will transfer your GET G amounts to another available series of the GET Fund
that is accepting deposits. If no GET Fund Series is available, we will transfer
the account value to the fund or funds designated by the Company. We will make
these transfers as of the unit value next determined after the transfer.
SUBJECT TO COMPLETION OR AMENDMENT
Information contained herein is subject to completion or amendment. A
registration statement relating to these securities has been filed with the
Securities and Exchange Commission. These securities may not be sold nor may
offers to buy be accepted prior to the time the registration statement becomes
effective. This prospectus supplement shall not constitute an offer to sell or
the solicitation of any offer to buy nor shall there be any sale of these
securities in any state in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of any
such state.
<PAGE>
INCOME PHASE
GET G is not available during the income phase. You should not select this
option if you wish to begin income payments or to make other withdrawals or
transfers before the maturity date. You must transfer your GET G account value
to another available investment option before you may elect an income phase
payment option. As stated above, the Company's guarantee will not apply to
amounts you withdraw or transfer before the maturity date.
REINVESTMENT
Some contracts allow you to reinvest all or a portion of the proceeds after a
full withdrawal. If you withdraw amounts from GET G and then elect to reinvest
them, we will reinvest them in a GET Fund series that is then accepting
deposits, if one is available. If one is not available, we will reallocate your
GET G amounts among the other investment options in which you were invested, on
a pro rata basis.
The following information supplements the Fee Table contained in the prospectus
or the contract prospectus summary:
FEES DEDUCTED FROM YOUR INVESTMENTS IN THE SEPARATE ACCOUNT
In addition to the amounts currently listed under the heading "Fee Table" in the
prospectus or contract prospectus summary, we will make a daily deduction of a
GET G Guarantee Charge, equal on an annual basis to the percentage shown below,
from the amounts allocated to the GET G investment option:
<TABLE>
<S> <C>
GET G Guarantee Charge (deducted daily during the Guarantee Period) ... 0.50%
Maximum Total Separate Account Expenses ................................ 2.00%(1)
</TABLE>
(1) The Total Separate Account Expenses that apply to your contract may be
lower. Please refer to the "Fee Table" section of your prospectus or
contract prospectus summary.
Aetna GET Fund Series G Annual Expenses
(As a percentage of the average net assets)
<TABLE>
<CAPTION>
Investment Total Fund Annual Expenses
Advisory Fees(2) Other Expenses(3) (after expense reimbursement)(4)
---------------- ----------------- -------------------------------
<S> <C> <C> <C>
Aetna GET Fund Series G 0.60% 0.15% 0.75%
</TABLE>
For more information regarding expenses paid out of assets of the fund, see the
GET G prospectus.
- -----------------------
(2) The Investment Advisory Fee will be 0.25% during the Offering Period and
0.60% during the Guarantee Period.
(3) "Other Expenses" include an annual fund administrative fee of 0.075% of the
average daily net assets of GET G and any additional direct fund expenses.
(4) The Adviser is contractually obligated through GET G's maturity date to
waive all or a portion of its investment advisory fee and/or its
administrative fee and/or to reimburse a portion of GET G's other expenses
in order to ensure that GET G's Total Fund Annual Expenses do not exceed
0.75% of the fund's average daily net assets. It is not expected that GET
G's actual expenses without this waiver or reimbursement will exceed this
amount.
<PAGE>
Hypothetical Examples of Account Fees (EXAMPLE)--Aetna GET Fund Series G
THE EXAMPLES ARE PURELY HYPOTHETICAL. THEY SHOULD NOT BE CONSIDERED A
REPRESENTATION OF PAST OR FUTURE EXPENSES OR EXPECTED RETURN. ACTUAL EXPENSES
AND/OR RETURN MAY BE MORE OR LESS THAN THOSE SHOWN BELOW.
The following Examples illustrate the expenses that would have been paid
assuming a $1,000 investment in the GET G investment option under the contract
(until GET G's maturity date) and a 5% return an assets.(5)
Example A
---------
If you withdraw your entire account value at the end of the periods shown, you
would pay the following expenses, including any applicable early withdrawal
charges assessed:
<TABLE>
<CAPTION>
1 Year 3 Years 5 Years
- -------- --------- --------
<S> <C> <C>
$79 $140 $204
</TABLE>
Example B
---------
If you leave your entire account value invested or if you select an income phase
option at the end of the periods shown, you would pay the following expenses (no
early withdrawal charge is assessed):
<TABLE>
<CAPTION>
1 Year 3 Years 5 Years
- -------- --------- --------
<S> <C> <C>
$28 $87 $148
</TABLE>
- -----------------------
(5) The examples shown above reflect an annual mortality and expense risk charge
of 1.25%, an annual contract administrative expense charge of 0.25%, an
annual GET G guarantee charge of 0.50%, an annual maintenance fee that has
been converted to a percentage of assets equal to 0.050%, and all charges
and expenses of GET G. Example A reflects an early withdrawal charge of 5%
of the account value at the end of years 1, 3 and 5. (The expenses that you
would pay under your contract may be lower. Please refer to the "Fee Table"
section of your prospectus or contract prospectus summary.)
RH.GETGSPON-99 June 1999
<PAGE>
VARIABLE ANNUITY ACCOUNT C
PART C - OTHER INFORMATION
Item 24. Financial Statements and Exhibits
- ------------------------------------------
(a) Financial Statements:
(1) Incorporated by reference in Part A:
Condensed Financial Information
(2) Incorporated by reference in Part B:
Financial Statements of Variable Annuity Account C:
- Statement of Assets and Liabilities as of December 31, 1998
- Statements of Operations and Changes in Net Assets for the
years ended December 31, 1998 and 1997
- Condensed Financial Information for the year ended December
31, 1998
- Notes to Financial Statements
- Independent Auditors' Report
Financial Statements of the Depositor:
- Independent Auditors' Report
- Consolidated Statements of Income for the years ended
December 31, 1998, 1997 and 1996
- Consolidated Balance Sheets as of December 31, 1998 and 1997
- Consolidated Statements of Changes in Shareholder's Equity
for the years ended December 31, 1998, 1997 and 1996
- Consolidated Statements of Cash Flows for the years ended
December 31, 1998, 1997 and 1996
- Notes to Consolidated Financial Statements
(b) Exhibits
(1) Resolution of the Board of Directors of Aetna Life Insurance and
Annuity Company establishing Variable Annuity Account C(1)
(2) Not applicable
(3.1) Broker-Dealer Agreement(2)
(3.2) Alternative Form of Wholesaling Agreement and Related Selling
Agreement(3)
(4.1) Variable Annuity Contract (G-CDA(99)) (4)
(4.2) Variable Annuity Contract Certificate (C-CDA(99)) (4)
(4.3) Group Combination Annuity Contract (Nonparticipating)
(A001RP95)(5)
(4.4) Group Combination Annuity Certificate (Nonparticipating)
(A007RC95)(5)
(4.5) Group Combination Annuity Contract (Nonparticipating)
(A020RV95)(5)
(4.6) Group Combination Annuity Certificate (Nonparticipating)
(A027RV95)(5)
(4.7) Variable Annuity Contract (G-CDA-IA(RP))(3)
(4.8) Variable Annuity Contract Certificate (GTCC-IA(RP))(6)
(4.9) Variable Annuity Contract (G-CDA-IA(RPM/XC))(3)
(4.10) Variable Annuity Contract (G-CDA-HF)(7)
<PAGE>
(4.11) Variable Annuity Certificate (GTCC-HF)(8)
(4.12) Variable Annuity Contract (G-CDA-HD)(9)
(4.13) Variable Annuity Contract Certificate (GTCC-HD)(6)
(4.14) Variable Annuity Contract (GID-CDA-HO)(10)
(4.15) Variable Annuity Contract (GLID-CDA-HO)(10)
(4.16) Variable Annuity Contract (GSD-CDA-HO)(10)
(4.17) Variable Annuity Contract (GST-CDA-HO)(11)
(4.18) Variable Annuity Contract (I-CDA-HD)(11)
(4.19) Variable Annuity Contract (G-CDA-IB(ATORP))(12)
(4.20) Variable Annuity Contract and Certificate (G-CDA-95(TORP)) and
(GTCC-95(TORP))(12)
(4.21) Variable Annuity Contract (G-CDA-IB(AORP))(12)
(4.22) Variable Annuity Contract and Certificate (G-CDA-95(ORP)) and
(GTCC-95(ORP))(12)
(4.23) Variable Annuity Contracts and Certificate (G-CDA-ORP),
(G-CDA-IB(TORP)) and (GTCC-95(TORP))(12)
(4.24) Variable Annuity Contract (G-CDA-96(TORP))(13)
(4.25) Variable Annuity Contract (IA-CDA-IA)(14)
(4.26) Variable Annuity Contract (GIT-CDA-HO)(11)
(4.27) Variable Annuity Contract (GLIT-CDA-HO)(11)
(4.28) Variable Annuity Contract (I-CDA-98(ORP))(7)
(4.29) Endorsement for Exchanged Contract (EINRP95) to Contract
A001RP95(5)
(4.30) Endorsement for Exchanged Contract (EINRV95) to Contract
A020RV95(5)
(4.31) Endorsement (GET 9/96) to Contracts A001RP95 and A020RV95(13)
(4.32) Endorsement (GET-1 (9/96)) to Contracts A001RP95 and
A020RV95(15)
(4.33) Endorsement (E1OMNI97) to Contract A001RP95(16)
(4.34) Endorsement (E2OMNI97) to Contract A001RP95(16)
(4.35) Endorsement (E1FXPL97) to Contract A001RP95(16)
(4.36) Endorsement (E3FXPL97) to Contracts A001RP95 and A020RV95(7)
(4.37) Endorsement (EINRP97) to Contract A001RP95(7)
(4.38) Endorsement (EINRV97) to Contract A020RV95(7)
(4.39) Endorsement (E1PAY97) to Contracts A001RP95 and A020RV95(7)
(4.40) Endorsement (E4OMNI98) to Contracts A001RP95 and A020RV95(17)
(4.41) Endorsement (EINRV98) to Contract A020RV95(7)
(4.42) Endorsement (EINRP98) to Contract A001RP95(7)
(4.43) Endorsement (EGET-IC(R)) to Contracts G-CDA-IA(RP), G-CDA-HF,
G-CDA-IB(ATORP), G-CDA-IB(AORP) and G-CDA-HD(3)
(4.44) Endorsement (EGETE-IC(R)) to Contracts G-CDA-IA(RPM/XC) and
GLID-CDA-HO(18)
<PAGE>
(4.45) Endorsement (EGHDHFRPSDO97) to Contracts G-CDA-HF, G-CDA-HD and
G-CDA-IA(RP)(19)
(4.46) Endorsement (EG403-GIE-98) to Contracts G-CDA-HF, G-CDA-HD,
G-CDA-IA(RP), A001RP95, A020RV95 and Certificates GTCC-HF,
GTCC-HD, GTCC-IA(RP), A007RC95 and A027RV95 (20)
(4.47) Endorsement (EG403-GIHC-98) to Contracts G-CDA-IA(RP), A001RP95
and A020RV95 and Certificates GTCC-IA(RP), A007RC95 and
A027RV95(20)
(4.48) Endorsement (EG403-GI-98) to Contract G-CDA-HF and Certificate
GTCC-HF(21)
(4.49) Endorsement (EFUND97) to Contracts GID-CDA-HO, GLID-CDA-HO,
GSD-CDA-HO, and GST-CDA-HO(22)
(4.50) Endorsement (E98-G-CDA-HF/HD) to Contracts G-CDA-HF and G-CDA-HD
and Certificates GTCC-HD and GTCC-HF(23)
(4.51) Endorsement (E98-CDA-HO) to Contracts GLID-CDA-HO, GID-CDA-HO
and GSD-CDA-HO(23)
(4.52) Endorsement (E3KSDC96) to Variable Annuity Contract
GLID-CDA-HO(24)
(4.53) Endorsement (EMETHO96) to Variable Annuity Contract
GLID-CDA-HO(25)
(4.54) Endorsement (ENEMHF96) to Variable Annuity Contract G-CDA-HF(25)
(4.55) Endorsement (E2ME96) to Variable Annuity Contract
GLID-CDA-HO(26)
(4.56) Endorsement (GET 9/96) to Variable Annuity Contracts
G-CDA-95(TORP) and G-CDA-95(ORP) and Certificates GTCC-95(TORP)
and GTCC-95(ORP)(13)
(4.57) Endorsements (EIGET-IC(R)), (EIGF-IC) and (EGF-IC(SPD)) to
Contract IA-CDA-IA(27)
(4.58) Endorsement (EIHDIASDO) to Contracts I-CDA-HD and IA-CDA-IA(28)
(4.59) Endorsement (EHOSDO) to Contracts GIT-CDA-HO, GLIT-CDA-HO and
GST-CDA-HO(28)
(4.60) Endorsement (EHOTABLE97) to Contracts GIT-CDA-HO, GLIT-CDA-HO
and GST-CDA-HO(28)
(4.61) Endorsement (EI403-GI-98) to Contract IA-CDA-IA(7)
(4.62) Endorsement (E-MMGDB(99)) to Contract G-CDA(99) and Certificate
C-CDA (99)(4)
(4.63) Endorsement (E-MMFPEX(99)) to Contract G-CDA(99) and Certificate
C-CDA(99)(4)
(4.64) Endorsement (E-MMLOAN(99)) to Contract G-CDA(99) and Certificate
C-CDA(99) (4)
(4.65) Endorsement (E-MMLSWC(99)) to Contract G-CDA(99) and Certificate
C-CDA(99) (4)
(4.66) Endorsement (E-MMTC(5/99)) to Contract G-CDA(99) and Certificate
C-CDA(99) (4)
(4.67) Endorsement (EGET-99) to Contracts and Certificates Nos.:
A001RP95, A007RC95, A020RV95, A027RV95, G-CDA-IA(RP),
GTCC-IA(RP), G-CDA-HF, GTCC-HF, G-CDA-HD, GTCC-HD, GID-CDA-HO,
GLID-CDA-HO, GIT-CDA-HO, GLIT-CDA-HO, GSD-CDA-HO, GST-CDA-HO,
I-CDA-HD, G-CDA-
<PAGE>
IB(ATORP), G,CDA-IB(TORP), G-CDA-IB(AORP), G-CDA-96(TORP),
IA-CDA-IA, and I-CDA-98(ORP)(4)
(4.68) Variable Annuity Contract Schedule I (A001RP95(1/98))(7)
(4.69) Variable Annuity Contract Schedule I (A020RV95)(1/98)(7)
(5.1) Variable Annuity Contract Application (300-MOP-96)(29)
(5.2) Variable Annuity Contract Application (300-GTD-IA)(30)
(5.3) Variable Annuity Contract Application (710.00.16H(11/97))(31)
(5.4) Variable Annuity Contract Application
(710.00.16H(NY)(11/97))(31)
(6.1) Certificate of Incorporation of Aetna Life Insurance and Annuity
Company(31)
(6.2) Amendment of Certificate of Incorporation of Aetna Life
Insurance and Annuity Company(11)
(6.3) By-Laws as amended September 17, 1997 of Aetna Life Insurance
and Annuity Company(32)
(7) Not applicable
(8.1) Fund Participation Agreement between Aetna Life Insurance and
Annuity Company and AIM dated June 30, 1998(33)
(8.2) Service Agreement between Aetna Life Insurance and Annuity
Company and AIM effective June 30, 1998(33)
(8.3) Fund Participation Agreement by and among Aetna Life Insurance
and Annuity Company and Aetna Variable Fund, Aetna Variable
Encore Fund, Aetna Income Shares, Aetna Balanced VP, Inc., Aetna
GET Fund on behalf of each of its series, Aetna Generation
Portfolios, Inc. on behalf of each of its series, Aetna Variable
Portfolios, Inc. on behalf of each of its series, and Aeltus
Investment Management, Inc. dated as of May 1, 1998(2)
(8.4) Amendment dated November 9, 1998 to Fund Participation Agreement
by and among Aetna Life Insurance and Annuity Company and Aetna
Variable Fund, Aetna Variable Encore Fund, Aetna Income Shares,
Aetna Balanced VP, Inc., Aetna GET Fund on behalf of each of its
series, Aetna Generation Portfolios, Inc. on behalf of each of
its series, Aetna Variable Portfolios, Inc. on behalf of each of
its series, and Aeltus Investment Management, Inc. dated as of
May 1, 1998(34)
(8.5) Service Agreement between Aeltus Investment Management, Inc. and
Aetna Life Insurance and Annuity Company in connection with the
sale of shares of Aetna Variable Fund, Aetna Variable Encore
Fund, Aetna Income Shares, Aetna Balanced VP, Inc., Aetna GET
Fund on behalf of each of its series, Aetna Generation
Portfolios, Inc. on behalf of each of its series, and Aetna
Variable Portfolios, Inc. on behalf of each of its series dated
as of May 1, 1998(2)
(8.6) Amendment dated November 4, 1998 to Service Agreement between
Aeltus Investment Management, Inc. and Aetna Life Insurance and
Annuity Company in connection with the sale of shares of Aetna
Variable Fund, Aetna Variable Encore Fund, Aetna Income Shares,
Aetna Balanced VP, Inc., Aetna GET Fund on behalf of each of its
series, Aetna Generation Portfolios, Inc. on behalf of each of
its series
<PAGE>
and Aetna Variable Portfolios, Inc. on behalf of each of its
series dated as of May 1, 1998(34)
(8.7) Fund Participation Agreement among Calvert Responsibly Invested
Balanced Portfolio, Calvert Asset Management Company, Inc. and
Aetna Life Insurance and Annuity Company dated December 1,
1997(35)
(8.8) Service Agreement between Calvert Asset Management Company, Inc.
and Aetna Life Insurance and Annuity Company Dated December 1,
1997(35)
(8.9) Fund Participation Agreement between Aetna Life Insurance and
Annuity Company, Variable Insurance Products Fund and Fidelity
Distributors Corporation dated February 1, 1994 and amended on
December 15, 1994, February 1, 1995, May 1, 1995, January 1,
1996 and March 1, 1996(11)
(8.10) Fifth Amendment dated as of May 1, 1997 to the Fund
Participation Agreement between Aetna Life Insurance and Annuity
Company, Variable Insurance Products Fund and Fidelity
Distributors Corporation dated February 1, 1994 and amended on
December 15, 1994, February 1, 1995, May 1, 1995, January 1,
1996 and March 1, 1996(36)
(8.11) Sixth Amendment dated November 6, 1997 to the Fund Participation
Agreement between Aetna Life Insurance and Annuity Company,
Variable Insurance Products Fund and Fidelity Distributors
Corporation dated February 1, 1994 and amended on December 15,
1994, February 1, 1995, May 1, 1995, January 1, 1996, March 1,
1996 and May 1, 1997(37)
(8.12) Seventh Amendment dated as of May 1, 1998 to the Fund
Participation Agreement between Aetna Life Insurance and Annuity
Company, Variable Insurance Products Fund and Fidelity
Distributors Corporation dated February 1, 1994 and amended on
December 15, 1994, February 1, 1995, May 1, 1995, January 1,
1996, March 1, 1996, May 1, 1997 and November 6, 1997(2)
(8.13) Fund Participation Agreement between Aetna Life Insurance and
Annuity Company, Variable Insurance Products Fund II and
Fidelity Distributors Corporation dated February 1, 1994 and
amended on December 15, 1994, February 1, 1995, May 1, 1995,
January 1, 1996 and March 1,1996(11)
(8.14) Fifth Amendment dated as of May 1, 1997 to the Fund
Participation Agreement between Aetna Life Insurance and Annuity
Company, Variable Insurance Products Fund II and Fidelity
Distributors Corporation dated February 1, 1994 and amended on
December 15, 1994, February 1, 1995, May 1, 1995, January 1,
1996 and March 1, 1996(36)
(8.15) Sixth Amendment dated as of January 20, 1998 to the Fund
Participation Agreement between Aetna Life Insurance and Annuity
Company, Variable Insurance Products Fund II and Fidelity
Distributors Corporation dated February 1, 1994 and amended on
December 15, 1994, February 1, 1995, May 1, 1995, January 1,
1996, March 1, 1996 and May 1, 1997(38)
(8.16) Seventh Amendment dated as of May 1, 1998 to the Fund
Participation Agreement between Aetna Life Insurance and Annuity
Company, Variable Insurance Products
<PAGE>
Fund II and Fidelity Distributors Corporation dated February 1,
1994 and amended on December 15, 1994, February 1, 1995, May 1,
1995, January 1, 1996, March 1, 1996, May 1, 1997 and January
20, 1998(2)
(8.17) Service Agreement between Aetna Life Insurance and Annuity
Company and Fidelity Investments Institutional Operations
Company dated as of November 1, 1995(25)
(8.18) Amendment dated January 1, 1997 to Service Agreement between
Aetna Life Insurance and Annuity Company and Fidelity
Investments Institutional Operations Company dated as of
November 1, 1995(36)
(8.19) Service Contract between Fidelity Distributors Corporation and
Aetna Life Insurance and Annuity Company dated May 2, 1997(34)
(8.20) Fund Participation Agreement among Janus Aspen Series and Aetna
Life Insurance and Annuity Company and Janus Capital Corporation
dated December 8, 1997(25)
(8.21) Amendment dated October 12, 1998 to Fund Participation Agreement
among Janus Aspen Series and Aetna Life Insurance and Annuity
Company and Janus Capital Corporation dated December 8, 1997(34)
(8.22) Service Agreement between Janus Capital Corporation and Aetna
Life Insurance and Annuity Company dated December 8, 1997(39)
(8.23) Fund Participation Agreement between Aetna Life Insurance and
Annuity Company and Lexington Management Corporation regarding
Natural Resources Trust dated December 1, 1988 and amended
February 11, 1991(3)
(8.24) Fund Participation Agreement dated March 11, 1997 between Aetna
Life Insurance and Annuity Company and Oppenheimer Variable
Annuity Account Funds and Oppenheimer Funds, Inc.(40)
(8.25) Service Agreement effective as of March 11, 1997 between
Oppenheimer Funds, Inc. and Aetna Life Insurance and Annuity
Company(40)
(9) Opinion and Consent of Counsel
(10) Consent of Independent Auditors
(11) Not applicable
(12) Not applicable
(13) Schedule for Computation of Performance Data(17)
(14) Not applicable
(15.1) Powers of Attorney(41)
(15.2) Authorization for Signatures(3)
1. Incorporated by reference to Post-Effective Amendment No. 6 to Registration
Statement on Form N-4 (File No. 33-75986), as filed on April 22, 1996.
2. Incorporated by reference to Registration Statement on Form N-4 (File No.
333-56297), as filed on June 8, 1998.
3. Incorporated by reference to Post-Effective Amendment No. 5 to Registration
Statement on Form N-4 (File No. 33-75986), as filed on April 12, 1996.
<PAGE>
4. Incorporated by reference to Post-Effective Amendment No. 13 to
Registration Statement on Form N-4 (File No. 333-01107), as filed on May 3,
1999.
5. Incorporated by reference to Registration Statement on Form N-4 (File No.
333-01107), as filed on February 21, 1996.
6. Incorporated by reference to Post-Effective Amendment No. 12 to
Registration Statement on Form N-4 (File No. 333-01107), as filed on
February 4, 1999.
7. Incorporated by reference to Post-Effective Amendment No. 14 to
Registration Statement on Form N-4 (File No. 33-75964), as filed on July
29, 1997.
8. Incorporated by reference to Post-Effective Amendment No. 6 to Registration
Statement on Form N-4 (File No. 33-75980), as filed on February 12, 1997.
9. Incorporated by reference to Post-Effective Amendment No. 6 to Registration
Statement on Form N-4 (File No. 33-75982), as filed on April 22, 1996.
10. Incorporated by reference to Post-Effective Amendment No. 12 to
Registration Statement on Form N-4 (File No. 33-75982), as filed on
February 20, 1997.
11. Incorporated by reference to Post-Effective Amendment No. 12 to
Registration Statement on Form N-4 (File No. 33-75964), as filed on
February 11, 1997.
12. Incorporated by reference to Post-Effective Amendment No. 3 to Registration
Statement on Form N-4 (File No. 33-91846), as filed on April 15, 1996.
13. Incorporated by reference to Post-Effective Amendment No. 6 to Registration
Statement on Form N-4 (File No. 33-91846), as filed on August 6, 1996.
14. Incorporated by reference to Post-Effective Amendment No. 14 to
Registration Statement on Form N-4 (File No. 33-75964), as filed on July
29, 1997.
15. Incorporated by reference to Post-Effective Amendment No. 10 to
Registration Statement on Form N-4 (File No. 333-01107), as filed on July
22, 1998.
16. Incorporated by reference to Post-Effective Amendment No. 4 to Registration
Statement on Form N-4 (File No. 333-01107), as filed on February 26, 1997.
17. Incorporated by reference to Post-Effective Amendment No. 9 to Registration
Statement on Form N-4 (File No. 333-01107), as filed on April 7, 1998.
18. Incorporated by reference to Post-Effective Amendment No. 8 to Registration
Statement on Form N-4 (File No. 33-75986), as filed on August 30, 1996.
19. Incorporated by reference to Post-Effective Amendment No. 13 to
Registration Statement on Form N-4 (File No. 33-75986), as filed on April
11, 1997.
20. Incorporated by reference to Post-Effective Amendment No. 11 to
Registration Statement on Form N-4 (File No. 333-01107), as filed on
September 10, 1998.
21. Incorporated by reference to Post-Effective Amendment No. 15 to
Registration Statement on Form N-4 (File No. 33-75962), as filed on
September 15, 1998.
22. Incorporated by reference to Post-Effective Amendment No. 14 to
Registration Statement on Form N-4 (File No. 33-75964), as filed on July
29, 1997.
23. Incorporated by reference to Post-Effective Amendment No. 15 to
Registration Statement on Form N-4 (File No. 33-75982), as filed on April
13, 1998.
24. Incorporated by reference to Post-Effective Amendment No. 1 to Registration
Statement on Form N-4 (File No. 33-88720), as filed on April 22, 1996.
<PAGE>
25. Incorporated by reference to Post-Effective Amendment No. 3 to Registration
Statement on Form N-4 (File No. 33-88720), as filed on June 28, 1996.
26. Incorporated by reference to Post-Effective Amendment No. 5 to Registration
Statement on Form N-4 (File No. 33-88720), as filed on February 21, 1997.
27. Incorporated by reference to Post Effective Amendment No. 8 to Registration
Statement on Form N-4 (File No. 33-75964), as filed on August 30, 1996.
28. Incorporated by reference to Post-Effective Amendment No. 13 to
Registration Statement on Form N-4 (File No. 33-75964), as filed on April
11, 1997.
29. Incorporated by reference to Post-Effective Amendment No. 13 to
Registration Statement on Form N-4 (File No. 33-91846), as filed on April
13, 1998.
30. Incorporated by reference to Post-Effective Amendment No. 14 to
Registration Statement on Form N-4 (File No. 33-75986), as filed on August
19, 1997.
31. Incorporated by reference to Post-Effective Amendment No. 1 to Registration
Statement on Form S-1 (File No. 33-60477), as filed on April 15, 1996.
32. Incorporated by reference to Post-Effective Amendment No. 12 to
Registration Statement on Form N-4 (File No. 33-91846), as filed on October
30, 1997.
33. Incorporated by reference to Pre-Effective Amendment No. 1 to Registration
Statement on Form N-4 (File No. 333-56297), as filed on August 4, 1998.
34. Incorporated by reference to Post-Effective Amendment No. 2 to Registration
Statement on Form N-4 (File No. 333-56297), as filed on December 14, 1998.
35. Incorporated by reference to Post-Effective Amendment No. 8 to Registration
Statement on Form N-4 (File No. 333-01107), as filed on February 19, 1998.
36. Incorporated by reference to Post-Effective Amendment No. 30 to
Registration Statement on Form N-4 (File No. 33-34370), as filed on
September 29, 1997.
37. Incorporated by reference to Post-Effective Amendment No. 16 to
Registration Statement on Form N-4 (File No. 33-75964), as filed on
February 9, 1998.
38. Incorporated by reference to Post-Effective Amendment No. 7 to Registration
Statement on Form S-6 (File No. 33-75248), as filed on February 24, 1998.
39. Incorporated by reference to Post-Effective Amendment No. 10 to
Registration Statement on Form N-4 (File No. 33-75992), as filed on
December 31, 1997.
40. Incorporated by reference to Post-Effective Amendment No. 27 to
Registration Statement on Form N-4 (File No. 33-34370), as filed on April
16, 1997.
41. Incorporated by reference to Post-Effective Amendment No. 5 to Registration
Statement on Form N-4 (File No. 333-56297), as filed on February 25, 1999.
<PAGE>
Item 25. Directors and Officers of the Depositor
- ------------------------------------------------
<TABLE>
<CAPTION>
Name and Principal
Business Address* Positions and Offices with Depositor
- ----------------- ------------------------------------
<S> <C>
Thomas J. McInerney Director and President
Catherine H. Smith Director, Chief Financial Officer and Senior Vice President
Shaun P. Mathews Director and Senior Vice President
Deborah Koltenuk Vice President, Corporate Controller and Assistant Treasurer
Therese M. Squillacote Vice President and Chief Compliance Officer
Kirk P. Wickman Senior Vice President, General Counsel and Corporate Secretary
</TABLE>
* The principal business address of all directors and officers listed is 151
Farmington Avenue, Hartford, Connecticut 06156.
Item 26. Persons Controlled by or Under Common Control with the Depositor or
Registrant
- -----------------------------------------------------------------------------
Incorporated herein by reference to Item 24 of Post-Effective Amendment No.
31 to Registration Statement on Form N-1A (File No. 33-41694), as filed on May
17, 1999.
Item 27. Number of Contract Owners
- ----------------------------------
As of May 31, 1999, there were 610,458 individuals holding interests in
variable annuity contracts funded through Variable Annuity Account C.
Item 28. Indemnification
- ------------------------
Section 21 of Public Act No. 97-246 of the Connecticut General Assembly (the
"Act") provides that a corporation may provide indemnification of or advance
expenses to a director, officer, employee or agent only as permitted by Sections
33-770 to 33-778, inclusive, of the Connecticut General Statutes, as amended by
Sections 12 to 20, inclusive, of this Act. Reference is hereby made to Section
33-771(e) of the Connecticut General Statutes ("CGS") regarding indemnification
of directors and Section 33-776(d) of CGS regarding indemnification of officers,
employees and agents of Connecticut corporations. These statutes provide in
general that Connecticut corporations incorporated prior to January 1, 1997
shall, except to the extent that their certificate of incorporation expressly
provides otherwise, indemnify their directors, officers, employees and agents
against "liability" (defined as the obligation to pay a judgment, settlement,
penalty, fine, including an excise tax assessed with respect to an employee
benefit plan, or
<PAGE>
reasonable expenses incurred with respect to a proceeding) when (1) a
determination is made pursuant to Section 33-775 that the party seeking
indemnification has met the standard of conduct set forth in Section 33-771 or
(2) a court has determined that indemnification is appropriate pursuant to
Section 33-774. Under Section 33-775, the determination of and the authorization
for indemnification are made (a) by the disinterested directors, as defined in
Section 33-770(3); (b) by special counsel; (c) by the shareholders; or (d) in
the case of indemnification of an officer, agent or employee of the corporation,
by the general counsel of the corporation or such other officer(s) as the board
of directors may specify. Also, Section 33-772 provides that a corporation shall
indemnify an individual who was wholly successful on the merits or otherwise
against reasonable expenses incurred by him in connection with a proceeding to
which he was a party because he was a director of the corporation. In the case
of a proceeding by or in the right of the corporation or with respect to conduct
for which the director, officer, agent or employee was adjudged liable on the
basis that he received a financial benefit to which he was not entitled,
indemnification is limited to reasonable expenses incurred in connection with
the proceeding against the corporation to which the individual was named a
party.
The statute does specifically authorize a corporation to procure indemnification
insurance on behalf of an individual who was a director, officer, employer or
agent of the corporation. Consistent with the statute, Aetna Inc. has procured
insurance from Lloyd's of London and several major United States excess insurers
for its directors and officers and the directors and officers of its
subsidiaries, including the Depositor.
Item 29. Principal Underwriter
- ------------------------------
(a) In addition to serving as the principal underwriter and depositor for
the Registrant, Aetna Life Insurance and Annuity Company (Aetna) also
acts as the principal underwriter, only, for Aetna Variable Encore
Fund, Aetna Variable Fund, Aetna Generation Portfolios, Inc., Aetna
Income Shares, Aetna Balanced VP, Inc. (formerly Aetna Investment
Advisers Fund, Inc.), Aetna GET Fund, and Aetna Variable Portfolios,
Inc. and as the principal underwriter and investment adviser for
Portfolio Partners, Inc. (all management investment companies
registered under the Investment Company Act of 1940 (1940 Act)).
Additionally, Aetna acts as the principal underwriter and depositor for
Variable Life Account B of Aetna, Variable Annuity Account B of Aetna
and Variable Annuity Account G of Aetna (separate accounts of Aetna
registered as unit investment trusts under the 1940 Act). Aetna is also
the principal underwriter for Variable Annuity Account I of Aetna
Insurance Company of America (AICA) (a separate account of AICA
registered as a unit investment trust under the 1940 Act).
(b) See Item 25 regarding the Depositor.
<PAGE>
(c) Compensation as of December 31, 1998:
<TABLE>
<CAPTION>
(1) (2) (3) (4) (5)
Name of Net Underwriting Compensation
Principal Discounts and on Redemption Brokerage
Underwriter Commissions or Annuitization Commissions Compensation*
- ----------- ----------- ---------------- ----------- -------------
<S> <C> <C> <C> <C>
Aetna Life Insurance $6,483,000 $142,398,000
and Annuity Company
</TABLE>
* Compensation shown in column 5 includes deductions for mortality and expense
risk guarantees and contract charges assessed to cover costs incurred in the
sales and administration of the contracts issued under Variable Annuity
Account C.
Item 30. Location of Accounts and Records
- -----------------------------------------
All accounts, books and other documents required to be maintained by
Section 31(a) of the 1940 Act and the rules under it relating to the securities
described in and issued under this Registration Statement are located at the
home office of the Depositor as follows:
Aetna Life Insurance and Annuity Company
151 Farmington Avenue
Hartford, Connecticut 06156
Item 31. Management Services
- ----------------------------
Not applicable
Item 32. Undertakings
- ---------------------
Registrant hereby undertakes:
(a) to file a post-effective amendment to this registration statement on
Form N-4 as frequently as is necessary to ensure that the audited
financial statements in the registration statement are never more than
sixteen months old for as long as payments under the variable annuity
contracts may be accepted;
(b) to include as part of any application to purchase a contract offered by
a prospectus which is part of this registration statement on Form N-4,
a space that an applicant can check to request a Statement of
Additional Information; and
(c) to deliver any Statement of Additional Information and any financial
statements required to be made available under this Form N-4 promptly
upon written or oral request.
<PAGE>
(d) The Company hereby represents that it is relying upon and complies with
the provisions of Paragraphs (1) through (4) of the SEC Staff's
No-Action Letter dated November 28, 1988 with respect to language
concerning withdrawal restrictions applicable to plans established
pursuant to Section 403(b) of the Internal Revenue Code. See American
Counsel of Life Insurance; SEC No-Action Letter, [1988 WL 1235221 *13
(S.E.C.)]
(e) Insofar as indemnification for liability 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 of 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.
(f) Aetna Life Insurance and Annuity Company represents that the fees and
charges deducted under the contracts covered by this registration
statement, in the aggregate, are reasonable in relation to the services
rendered, the expenses expected to be incurred, and the risks assumed
by the insurance company.
<PAGE>
SIGNATURES
As required by the Securities Act of 1933 and the Investment Company Act of
1940, the Registrant, Variable Annuity Account C of Aetna Life Insurance and
Annuity Company, has duly caused this Post-Effective Amendment to its
Registration Statement on Form N-4 (File No. 333-01107) to be signed on its
behalf by the undersigned, thereunto duly authorized, in the City of Hartford,
State of Connecticut, on the 21st day of June, 1999.
VARIABLE ANNUITY ACCOUNT C OF AETNA
LIFE INSURANCE AND ANNUITY COMPANY
(Registrant)
By: AETNA LIFE INSURANCE AND ANNUITY COMPANY
(Depositor)
By: Thomas J. McInerney*
----------------------------------------
Thomas J. McInerney
President
As required by the Securities Act of 1933, this Post-Effective Amendment
No. 15 to the Registration Statement has been signed by the following persons in
the capacities and on the dates indicated.
<TABLE>
<CAPTION>
Signature Title Date
- --------- ----- ----
<S> <C> <C>
Thomas J. McInerney* Director and President )
- -------------------------------- (principal executive officer) )
Thomas J. McInerney )
)
Catherine H. Smith* Director and Chief Financial Officer ) June
- -------------------------------- ) 21, 1999
Catherine H. Smith )
)
Shaun P. Mathews* Director )
- -------------------------------- )
Shaun P. Mathews )
)
Deborah Koltenuk* Vice President, Corporate Controller and )
- -------------------------------- Assistant Treasurer )
Deborah Koltenuk )
</TABLE>
By: /s/ Julie E. Rockmore
----------------------------------
Julie E. Rockmore
*Attorney-in-Fact
<PAGE>
VARIABLE ANNUITY ACCOUNT C
EXHIBIT INDEX
<TABLE>
<CAPTION>
Exhibit No. Exhibit
- ----------- -------
<S> <C> <C>
99-B.9 Opinion and Consent of Counsel ------------
99-B.10 Consent of Independent Auditors ------------
</TABLE>
Exhibit 99-B.9
151 Farmington Avenue
Hartford, CT 06156
Julie E. Rockmore
Counsel
Law Division, TS31
June 21, 1999 Investments & Financial Services
(860) 273-4686
Fax: (860) 273-0385
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, DC 20549
Re: Aetna Life Insurance and Annuity Company and its Variable Annuity Account C
Post-Effective Amendment No. 15 to Registration Statement on Form N-4
Prospectus Title: Multiple Sponsored Retirement Options
File Nos.: 333-01107* and 811-2513
Dear Sir or Madam:
The undersigned serves as counsel to Aetna Life Insurance and Annuity Company, a
Connecticut life insurance company (the "Company"). It is my understanding that
the Company, as depositor, has registered an indefinite amount of securities
(the "Securities") under the Securities Act of 1933 (the "Securities Act") as
provided in Rule 24f-2 under the Investment Company Act of 1940 (the "Investment
Company Act").
In connection with this opinion, I or those for whom I have supervisory
responsibility, have reviewed the N-4 Registration Statement, as amended to the
date hereof, and this Post-Effective Amendment No. 15 (the "Registration
Statement"). I have also examined originals or copies, certified or otherwise
identified to my satisfaction, of such documents, trust records and other
instruments I have deemed necessary or appropriate for the purpose of rendering
this opinion. For purposes of such examination, I have assumed the genuineness
of all signatures on original documents and the conformity to the original of
all copies.
- ----------------------
* Pursuant to Rule 429(a) under the Securities Act of 1933, Registrant has
included a combined prospectus under this Registration Statement which
includes all the information which would currently be required in a
prospectus relating to the securities covered by the following earlier
Registration Statements: 33-88720; 33-75964 (which had included a combined
prospectus for earlier Registration Statements: 33-75958, 33-75960, and
33-75994); 33-75986 (which had included a combined prospectus for earlier
Registration Statements: 33-75970, 33-75954, and 33-75956); 33-75982 (which
had included a combined prospectus for earlier Registration Statements:
33-75986, 33-75996, 33-75990, and the individual deferred compensation
contracts covered by Registration Statement No. 33-75992); and 33-91846
(which had included a combined prospectus for earlier Registration
Statement: 33-75976).
<PAGE>
I am admitted to practice law in Connecticut, and do not purport to be an expert
on the laws of any other state. My opinion herein as to any other law is based
upon a limited inquiry thereof which I have deemed appropriate under the
circumstances.
Based upon the foregoing, and, assuming the Securities are sold in accordance
with the provisions of the prospectus, I am of the opinion that the Securities
being registered will be legally issued and will represent binding obligations
of the Company.
I consent to the filing of this opinion as an exhibit to the Registration
Statement.
Sincerely,
/s/ Julie E. Rockmore
Julie E. Rockmore
Consent of Independent Auditors
The Board of Directors of Aetna Life Insurance and Annuity Company
and Contractholders of Aetna Variable Annuity Account C:
We consent to the references to our firm under the captions "Condensed
Financial Information" in the prospectus and "Independent Auditors" in the
statement of additional information and to the use of our reports dated
February 3, 1999 and February 26, 1999 incorporated by reference here in this
Post-Effective Amendment No. 15 to Registration Statement (File No. 333-01107)
on Form N-4.
/s/ KPMG LLP
Hartford, Connecticut
June 21, 1999
