Filed with the Securities and Exchange Commission on January 18, 2001
Registration No. 333-91633 Investment Company Act No. 811-09707
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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM N-4
Registration Statement under The Securities Act of 1933
Post-Effective Amendment No. 3
and/or
Registration Statement under The Investment Company Act of 1940
Post-Effective Amendment No. 3
AMERICAN SKANDIA LIFE ASSURANCE CORPORATION VARIABLE ACCOUNT B
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(CLASS 8 SUB-ACCOUNTS)
----------------------
(Exact Name of Registrant)
AMERICAN SKANDIA LIFE ASSURANCE CORPORATION
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(Name of Depositor)
ONE CORPORATE DRIVE, SHELTON, CONNECTICUT 06484
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(Address of Depositor's Principal Executive Offices)
(203) 926-1888
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(Depositor's Telephone Number)
M. PRISCILLA PANNELL, CORPORATE SECRETARY
One Corporate Drive, Shelton, Connecticut 06484
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(Name and Address of Agent for Service of Process)
Copy To:
SCOTT K. RICHARDSON, ESQ.
SENIOR COUNSEL
One Corporate Drive, Shelton, Connecticut 06484 (203) 925-3830
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Approximate Date of Proposed Sale to the Public:
JANUARY 22, 2001 OR AS SOON AS PRACTICABLE FOLLOWING THE EFFECTIVE DATE OF THIS REGISTRATION STATEMENT.
It is proposed that this filing become effective: (check appropriate space)
__ immediately upon filing pursuant to paragraph (b) of Rule 485
__ on January 22, 2001 pursuant to paragraph (b) of Rule 485
__ 60 days after filing pursuant to paragraph (a) (i) of Rule 485
__ on ________ __ pursuant to paragraph (a) (i) of Rule 485
__ 75 days after filing pursuant to paragraph (a) (ii) of Rule 485
__ on ______________pursuant to paragraph (a) (ii) of Rule 485
If appropriate, check the following box:
__ This post-effective amendment designates a new effective
date for a previously filed post-effective amendment.
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CALCULATION OF REGISTRATION FEE UNDER THE SECURITIES ACT OF 1933
Proposed Proposed
Maximum Maximum
Amount Offering Aggregate Amount of
Title of Securities to be Price Offering Registration
to be Registered Registered Per Unit Price Fee
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American Skandia Life Assurance
Corporation Annuity Contracts Indefinite* Indefinite* $0
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*Pursuant to Rule 24f-2 of the Investment Company Act of 1940
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Registrant has registered an indefinite number or amount of securities under the Securities Act of 1933 pursuant to Rule 24f-2 of
the Investment Company Act of 1940. The Rule 24f-2 Notice for Registrant's fiscal year 1999 will be filed within 90 days of the
close of the fiscal year.
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VIA-G (Class 8)
NOTE
Registrant is filing this Post-Effective Amendment to Registration Statement No. 333-91633 for the purpose of including in the
Registration Statement a Prospectus Supplement which adds new variable sub-accounts to the variable annuity contract described in
the registration statement and amends certain other disclosure in the registration statement. Other than as set forth herein, the
Post-Effective Amendment does not amend or delete any other part of this Registration Statement.
VIA-G
VIAS/G-SUPP. (01/22/2001) 1
Supplement to Prospectus Dated May 1, 2000 and Revised Effective July 3, 2000
Supplement dated January 22, 2001
This Supplement should be retained with the current Prospectus for your single premium variable adjustable immediate annuity
contract issued by American Skandia Life Assurance Corporation ("American Skandia"). If you do not have a current prospectus,
please contact American Skandia at 1-800-SKANDIA.
I. ADDITIONAL VARIABLE INVESTMENT OPTIONS
The underlying Portfolios shown below are being offered as Sub-accounts under your Annuity.
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Underlying Mutual Fund Portfolio Annual Expenses
(as a percentage of the average net assets of the underlying Portfolios)
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------------------------------------------------- --------------- ------------- -------------- ------------- ------------ -------------
Management Other 12b-1 Fees Total Annual Fee Net
Fees Expenses Portfolio Waivers Annual
UNDERLYING PORTFOLIO Operating and Fund
Expenses Expense Operating
Reimburse-mentExpenses
------------------------------------------------- --------------- ------------- -------------- ------------- ------------ -------------
ProFund VP:
Biotechnology 0.75% 1.00% 0.25% 2.00% N/A 2.00%
Energy 0.75% 1.00% 0.25% 2.00% N/A 2.00%
Financial 0.75% 1.00% 0.25% 2.00% N/A 2.00%
Healthcare 0.75% 1.00% 0.25% 2.00% N/A 2.00%
Real Estate 0.75% 1.00% 0.25% 2.00% N/A 2.00%
Technology 0.75% 1.00% 0.25% 2.00% N/A 2.00%
Telecommunications 0.75% 1.00% 0.25% 2.00% N/A 2.00%
Utilities 0.75% 1.00% 0.25% 2.00% N/A 2.00%
OTC 0.75% 0.95% 0.25% 1.95% N/A 1.95%
Bear 0.75% 0.95% 0.25% 1.95% N/A 1.95%
Bull Plus 0.75% 0.95% 0.25% 1.95% N/A 1.95%
------------------------------------------------- --------------- ------------- -------------- ------------- ------------ -------------
EXPENSE EXAMPLES
The Expense Examples shown below are being added with respect to the new Portfolios that are being offered as additional
Sub-accounts under your Annuity.
Below are examples showing what you would pay in expenses at the end of the stated time periods had you invested $1,000 in the
Annuity and received a 5% annual return on assets. The examples also assume you are a 70 year old male, you did not receive any
Credits, and you have not used the Annuity's conversion feature.
Without Optional Guarantee Feature With Optional Guarantee Feature
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With Surrender Without Surrender With Surrender Without Surrender
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Sub-Account 1 Year 3 Years 1 Year 3 Years 1 Year 3 Years 1 Year 3 Years
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-------------- --------- ----------- -------- ---------- --------- ---------- ----------
ProFund VP Biotechnology 193 274 33 95 201 299 43 124
ProFund VP Energy 193 274 33 95 201 299 43 124
ProFund VP Financial 193 274 33 95 201 299 43 124
ProFund VP Healthcare 193 274 33 95 201 299 43 124
ProFund VP Real Estate 193 274 33 95 201 299 43 124
ProFund VP Technology 193 274 33 95 201 299 43 124
ProFund VP Telecommunications 193 274 33 95 201 299 43 124
ProFund VP Utilities 193 274 33 95 201 299 43 124
ProFund VP OTC 192 273 32 93 201 297 43 122
ProFund VP Bear 192 273 32 93 201 297 43 122
ProFund VP Bull Plus 192 273 32 93 201 297 43 122
--------------------------------------------- -------------- --------- ----------- -------- ---------- --------- ---------- ----------
The following underlying Portfolios are being added to the section entitled "What are the Investment Objective and Policies of the
Portfolios?" on page 11 of your Annuity prospectus.
INVESTMENT OPTIONS
WHAT ARE THE INVESTMENT OBJECTIVES AND POLICIES OF THE PORTFOLIOS?
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PORTFOLIO
STYLE/ INVESTMENT OBJECTIVES/POLICIES ADVISOR/
TYPE SUB-ADVISOR
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Sector funds generally diversify their investments across particular economic sectors or a single industry. However, because those
investments are limited to a comparatively narrow segment of the economy, the Portfolios are generally not as diversified as other
Portfolios. Sector funds tend to be more volatile than other types of funds. The value of fund shares may go up and down more rapidly
than other funds. Each sector of the economy may also have different regulatory or other risk factors that can cause greater fluctuations
in the share price. Please read the prospectus for the Portfolios for further details about the risks of the particular sector of the
economy. Each ProFund VP sector Portfolio will concentrate its investments in a particular industry or group of industries to
approximately the same extent the applicable Index is so concentrated.
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ProFund VP Biotechnology: seeks daily investment results that correspond to the performance
of the Dow Jones U.S. Biotechnology Index ("Index"). The Index measures the performance of
the biotechnology sector of the U.S. equity market. The Portfolio invests primarily in equity ProFund Advisors LLC
securities of, or in instruments that provide exposure to, biotechnology companies engaged in
genetic research, and/or the marketing and development of recombinant DNA products. Companies
represented in this sector may include companies that may be newly formed and that have
relatively small market capitalizations.
SECTOR
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ProFund VP Energy: seeks daily investment results that correspond to the performance of the
Dow Jones U.S. Energy Sector Index ("Index"). The Index measures the performance of the
energy sector of the U.S. equity market. The Portfolio invests primarily in equity securities ProFund Advisors LLC
of, or in instruments that provide exposure to, energy companies engaged in the business of
oil equipment and services, oil-major, oil-secondary and pipelines.
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ProFund VP Financial: seeks daily investment results that correspond to the performance of
the Dow Jones U.S. Financial Sector Index ("Index"). The Index measures the performance of
the financial economic sector of the U.S. equity market. The Portfolio invests primarily in
equity securities of, or in instruments that provide exposure to, financial services
companies, including regional banks, major international banks, insurance companies, companies ProFund Advisors LLC
that invest, directly or indirectly in real estate, Fannie Mae, credit card insurers, check
cashing companies, mortgage lenders, investment advisors, savings and loans, savings banks,
thrifts, building associations and societies, credit unions, securities broker-dealers,
including investment banks and merchant banks, online brokers, publicly traded stock exchanges
and specialty finance companies.
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ProFund VP Healthcare: seeks daily investment results that correspond to the performance of
the Dow Jones U.S. Healthcare Sector Index ("Index"). The Index measures the performance of
the healthcare sector of the U.S. equity market. The Portfolio invests primarily in equity
securities of, or in instruments that provide exposure to, health care providers, ProFund Advisors LLC
biotechnology companies and manufacturers of medical supplies, advanced medical devices and
pharmaceuticals.
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ProFund VP Real Estate: seeks daily investment results that correspond to the performance of
the Dow Jones U.S. Real Estate Index ("Index"). The Index measures the performance of the
real estate industry sector of the U.S. equity market. The Portfolio invests primarily in
equity securities of, or in instruments that provide exposure to, hotel and resort companies ProFund Advisors LLC
and real estate investment trusts (REITs) that invest in apartments, office and retail
properties. REITs are passive investment vehicles that invest primarily in income-producing
real estate or real estate related loans or interests.
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PORTFOLIO
STYLE/ INVESTMENT OBJECTIVES/POLICIES ADVISOR/
TYPE SUB-ADVISOR
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ProFund VP Technology: seeks daily investment results that correspond to the performance of
the Dow Jones U.S. Technology Sector Index ("Index"). The Index measures the performance of
the technology sector of the U.S. equity market. The Portfolio invests primarily in equity
securities of, or in instruments that provide exposure to, companies involved in the ProFund Advisors LLC
development and production of technology products, including computer hardware and software,
telecommunications equipment, microcomputer components, integrated computer circuits and
office equipment utilizing technology.
SECTOR
(Cont.)
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ProFund VP Telecommunications: seeks daily investment results that correspond to the
performance of the Dow Jones U.S. Telecommunications Sector Index ("Index"). The Index
measures the performance of the telecommunications sector of the U.S. equity market. The
Portfolio invests primarily in equity securities of, or in instruments that provide exposure ProFund Advisors LLC
to, telecommunications companies including fixed line communications and wireless
communications.
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ProFund VP Utilities: seeks daily investment results that correspond to the performance of
the Dow Jones U.S. Utilities Sector Index ("Index"). The Index measures the performance of
the utilities sector of the U.S. equity market. The Portfolio invests primarily in equity ProFund Advisors LLC
securities of, or in instruments that provide exposure to, utility companies, including
electric utilities, gas utilities and water utilities.
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The ProFund VP OTC, Bear and Bull Plus portfolios are available to all Owners. It is recommended that only those Owners who engage a
financial advisor to allocate their funds in strategic or tactical asset allocation strategies invest in these portfolios. There can be
no assurance that any financial advisor will successfully predict market fluctuations.
The Portfolios principally invest in futures contracts on the applicable index, options on futures contracts and financial instruments
such as equity caps, collars and floors, swaps, American Depository Receipts and options on the index. The Portfolios may also invest in
stocks that the Advisor believes should simulate the movement of the applicable index.
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ProFund VP OTC: seeks daily investment results that correspond to the performance of the
NASDAQ 100 Index(TM). The NASDAQ 100 Index(TM)is comprised primarily of large capitalization ProFund Advisors LLC
companies, most with a technology or growth orientation. If the Portfolio is successful in
meeting its objective, it should increase or decrease in value in direct proportion to any
increase or decrease in value of the NASDAQ 100 Index(TM).
STRATEGIC OR
TACTICAL
ALLOCA-TION
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ProFund VP Bear: seeks daily investment results that correspond to the inverse (opposite) of
the performance of the S&P 500(R)Index. The S&P 500(R)Index is comprised of diverse, widely
traded, large capitalization companies. If the Portfolio is successful in meeting its
objective, it should increase in value in direct proportion to any decrease in the level of ProFund Advisors LLC
the S&P 500(R)Index. Conversely, its value will decrease in direct proportion to any increase
in the level of the S&P 500(R)Index.
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ProFund VP Bull Plus: seeks daily investment results that correspond to one and a half times
(150%) the performance of the S&P(R)500 Index. The S&P 500(R)Index is comprised of diverse,
widely traded, large capitalization companies. If the Portfolio is successful in meeting its
objective, it should gain approximately one and a half times as much as the S&P 500(R)Index ProFund Advisors LLC
when the prices of the securities in the S&P 500(R)Index rise on a given day and should lose
approximately one and a half times as much when such prices decline on a given day.
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Dow Jones has no relationship to the ProFunds VP, other than the licensing of the Dow Jones sector indices and its service marks
for use in connection with the ProFunds VP. The ProFunds VP are not sponsored, endorsed, sold, or promoted by Standard & Poor's
or NASDAQ, and neither Standard & Poor's nor NASDAQ makes any representations regarding the advisability of investing in the
ProFunds VP.
Under the Optional Guarantee Feature, the following new Sub-Accounts that invest in the following Portfolios currently are not
available:
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Underlying Portfolios Not Available With
Optional Guarantee Feature
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ProFund VP Biotechnology
ProFund VP Energy
ProFund VP Financial
ProFund VP Healthcare
ProFund VP Real Estate
ProFund VP Technology
ProFund VP Telecommunications
ProFund VP Utilities
ProFund VP OTC
ProFund VP Bear
ProFund VP Bull Plus
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II. RYDEX VARIABLE TRUST SUB-ACCOUNT CLOSING
Effective March 16, 2001, the Nova, Ursa and OTC portfolios of Rydex Variable Trust will no longer be offered as Sub-accounts
under the Annuity. Except as noted below, Annuity Owners and/or their authorized financial professionals will no longer be able
to allocate additional Account Value or make transfers into the Rydex Nova, Rydex Ursa or Rydex OTC Sub-accounts. Contract Owners
and/or their authorized financial professionals who elect to transfer Account Value out of the Rydex Sub-accounts on or after
March 16, 2001 will not be allowed to transfer Account Value into the Rydex Sub-accounts at a later date. Bank drafting, dollar
cost averaging, asset allocation and rebalancing programs that were effective on or before March 16, 2001 and included one or more
of the Rydex Sub-accounts will be allowed to continue. However, no changes involving the Rydex Sub-accounts may be made to such
programs.
American Skandia intends to file an application with the Securities and Exchange Commission to substitute the Rydex Nova, Rydex
Ursa and Rydex OTC Sub-accounts with corresponding portfolios of ProFunds VP. The proposed substitution will not affect your
rights or our obligations under the Annuity. Those Contract Owners effected by the proposed substitution will receive additional
information from American Skandia notifying them of their rights under the SEC Exemptive Order once received.
VIA-G (Class 8)
7
PART C
OTHER INFORMATION
Item 24. Financial Statements and Exhibits:
(a) All financial statements are included in Parts A & B of this Registration Statement.
(b) Exhibits are attached as indicated.
(1) Copy of the resolution of the board of directors of Depositor authorizing the establishment of the Registrant for
Separate Account B filed via EDGAR with Post-Effective Amendment No. 6 to Registration Statement No. 33-87010,
filed March 2, 1998.
(2) Not applicable. American Skandia Life Assurance Corporation maintains custody of all assets.
(3) (a) Form of revised Principal Underwriting Agreement between American Skandia Life Assurance Corporation and
American Skandia Marketing, Incorporated, formerly known as Skandia Life Equity Sales Corporation filed
via EDGAR with Post-Effective Amendment No. 6 to Registration Statement No. 33-87010, filed March 2,
1998.
(b) Form of Revised Dealer Agreement filed via EDGAR with Post-Effective Amendment No. 7 to Registration
Statement No. 33-87010, filed April 24, 1998.
(4) (a) Copy of the Form of Annuity Contract filed via EDGAR with Pre-Effective Amendment No. 1 to this
Registration Statement No. 333-91633, filed April 28, 2000.
(b) Copy of Required Minimum Distribution Endorsement filed via EDGAR in the Initial Registration Statement
to Registration Statement No. 333-93775, filed December 29, 1999.
(5) A copy of the application form used with the Annuity filed via EDGAR with Pre-Effective Amendment No. 1 to this
Registration Statement No. 333-91633, filed April 28, 2000.
(6) (a) Copy of the certificate of incorporation of American Skandia Life Assurance Corporation filed via EDGAR
with Post-Effective Amendment No. 6 to Registration Statement No. 33-87010, filed March 2, 1998.
(b) Copy of the By-Laws of American Skandia Life Assurance Corporation filed via EDGAR with Post-Effective
Amendment No. 6 to Registration Statement No. 33-87010, filed March 2, 1998.
(7) Annuity Reinsurance Agreements between Depositor and:
(a) Transamerica Occidental Life Assurance Company effective May 1, 1995, filed via EDGAR with
Post-effective Amendment No. 3 to Registration Statement No. 33-87010, filed April 25, 1996.
(b) PaineWebber Life Insurance Company effective January 1, 1995, filed via EDGAR with Post-effective
Amendment No. 3 to Registration Statement No. 33-87010, filed April 25, 1996.
(c) Connecticut General Life Insurance Company effective January 1, 1995, filed via EDGAR with
Post-effective Amendment No. 3 to Registration Statement No. 33-87010, filed April 25, 1996.
(8) Agreements between Depositor and:
(a) American Skandia Trust filed via EDGAR with Post-Effective Amendment No. 4 to Registration Statement No. 33-87010, filed
February 25, 1997 (At such time, what later became American Skandia Trust was known as the Henderson Global
Asset Trust).
(b) First Defined Portfolio Fund LLC filed via EDGAR with Post-Effective Amendment No. 7 to Registration Statement No.
33-86866, filed April 26, 2000.
(c) Evergreen Variable Annuity Trust filed via EDGAR with Post-Effective Amendment No. 9 to Registration Statement No.
33-87010, filed April 26, 2000.
(d) INVESCO Variable Investment Funds, Inc. filed via EDGAR with Post-Effective Amendment No. 9 to Registration Statement No.
33-87010, filed April 26, 2000.
(e) ProFunds VP filed via EDGAR with Post-Effective Amendment No. 9 to Registration Statement No. 33-87010, filed April 26,
2000.
(9) Opinion and Consent of Counsel filed via EDGAR with Post-Effective Amendment No. 1 to this Registration Statement
No. 333-91633, filed June 20, 2000.
(10) Consent of Ernst & Young LLP FILED HEREWITH
(11) Not applicable.
(12) Not applicable.
(13) Calculation of Performance Information for Advertisement of Performance filed via EDGAR with Post-effective
Amendment No. 12 to Registration Statement No. 33-44436, filed April 29, 1996.
(14) Financial Data Schedule
Item 25. Directors and Officers of the Depositor: The Directors and Officers of the Depositor are as follows:
Our executive officers, directors and certain significant employees, their ages, positions with us and principal occupations are
indicated below. The immediately preceding work experience is provided for officers that have not been employed by us or an
affiliate for at least five years as of the date of this Prospectus.
Name/ Position with American Skandia
Age Life Assurance Corporation Principal Occupation
--- -------------------------- --------------------
Patricia J. Abram Senior Vice President Senior Vice President:
48 and Director (since September, 2000) American Skandia
Marketing, Incorporated
Ms. Abram joined us in 1998. She previously held the position of Senior Vice President, Chief Marketing Officer with Mutual
Service Corporation. Ms. Abram was employed there since 1982.
Lori Allen Vice President Vice President:
30 American Skandia
Marketing, Incorporated
Kimberly Anderson Vice President Vice President:
American Skandia
Marketing, Incorporated
Robert M. Arena Vice President Vice President:
31 American Skandia Life
Assurance Corporation
Mr. Arena joined us in 1995. He previously held an internship position with KPMG Peat Marwick in 1994 and the position of Group
Sales Representative with Paul Revere Insurance from October, 1990 to August, 1993.
Gordon C. Boronow Deputy Chief Executive Officer Deputy Chief Executive Officer:
47 Director (since July, 1991) American Skandia Life
Assurance Corporation
Robert W. Brinkman Senior Vice President Senior Vice President:
35 American Skandia
Marketing, Incorporated
Malcolm M. Campbell Director (since July, 1991) Director of Operations and
44 Chief Actuary, Assurance and
Financial Services Division:
Skandia Insurance Company Ltd.
Carl Cavaliere Vice President Vice President:
37 American Skandia Life
Assurance Corporation
Mr. Cavaliere joined us in 1998. He previously held the position of Director of Operations with Aetna, Inc. since 1989.
Y.K. Chan Senior Vice President Senior Vice President
42 and Director (since September, 2000) and Chief Information Officer:
American Skandia Information
Services and Technology Corporation
Mr. Chan joined us in 1999. He previously held the position of Chief Information Officer with E.M. Warburg Pincus from January
1995 until April 1999 and the position of Vice President, Client Server Application Development with Scudder, Stevens and Clark
from January 1991 until January 1995.
Lucinda C. Ciccarello Vice President Vice President:
41 American Skandia
Marketing, Incorporated
Ms. Ciccarello joined us in 1997. She previously held the position of Assistant Vice President with Phoenix Duff & Phelps since
1984.
Lincoln R. Collins Senior Vice President Senior Vice President:
39 Director (since February, 1996) American Skandia Life
Assurance Corporation
Tim Cronin Vice President Vice President:
34 American Skandia Life
Assurance Corporation
Mr. Cronin joined us in 1998. He previously held the position of Manager/Client Investor with Columbia Circle Investors since
1995.
Harold Darak Vice President Vice President:
39 American Skandia Life
Assurance Corporation
Mr. Darak joined us in 1999. He previously held the position of Consultant/Senior Manager with Deloitte & Touche since 1998 and
the positions of Second Vice President with The Guardian since 1996 and The Travelers from October, 1982 until December, 1995.
Wade A. Dokken President and Chief Executive Officer President and
40 Director (since July, 1991) Chief Executive Officer
American Skandia, Inc.
Elaine C. Forsyth Vice President Vice President:
38 American Skandia Life
Assurance Corporation
Larisa Gromyko Director, Insurance Compliance Director, Insurance Compliance:
53 American Skandia Life
Assurance Corporation
Maureen Gulick Director, Business Operations Director, Business Operations:
37 American Skandia Life
Assurance Corporation
Berthann Jones Vice President Vice President:
45 American Skandia Life
Assurance Corporation
Ms. Jones joined us in 1997. She previously held the position of Vice President/Trust Officer with Ridgefield Bank since 1996 and
Manager with Wright Investors Service since 1993.
Ian Kennedy Senior Vice President Senior Vice President:
52 and Director (since September, 2000) American Skandia
Marketing, Incorporated
Mr. Ian Kennedy joined us in 1998. He previously was self-employed since 1996 and held the position of Vice President, Customer
Service with SunLife of Canada from September, 1968 to August, 1995.
N. David Kuperstock Vice President Vice President:
48 American Skandia Life
Assurance Corporation
Robert K. Leach Vice President Vice President,
45 Chief Actuary:
American Skandia Life
Assurance Corporation
Mr. Robert K. Leach joined us in 2000. He previously was employed in the U.S. Retirement Products and Services Division of Sun
Life of Canada and held the position of vice President, Finance and Product.
Thomas M. Mazzaferro Executive Vice President and Executive Vice President and
47 Chief Financial Officer, Chief Financial Officer:
Director (since September, 1994) American Skandia Life
Assurance Corporation
Gunnar J. Moberg Director (since October, 1994) Director - Marketing and Sales,
45 Assurances and Financial
Services Division:
Skandia Insurance Company Ltd.
David R. Monroe Senior Vice President, Senior Vice President,
38 Treasurer and Treasurer and
Corporate Controller Corporate Controller:
American Skandia Life
Assurance Corporation
Mr. Monroe joined us in 1996. He previously held positions of Assistant Vice President at Allmerica Financial since 1994.
Michael A. Murray Senior Vice President Senior Vice President:
31 American Skandia
Marketing, Incorporated
Polly Rae Vice President Vice President:
37 American Skandia Life
Assurance Corporation
Rebecca Ray Vice President Senior Vice President:
44 American Skandia
Marketing, Incorporated
Ms. Ray joined us in 1999. She previously held the position of First Vice President with Prudential Securities since 1997 and
Vice President with Merrill Lynch since 1995.
Rodney D. Runestad Vice President Vice President:
50 American Skandia Life
Assurance Corporation
Hayward L. Sawyer Senior Vice President Senior Vice President:
55 American Skandia
Marketing, Incorporated
Lisa Shambelan Vice President Vice President:
34 American Skandia Life
Assurance Corporation
Karen Stockla Vice President Vice President:
33 American Skandia Life
Assurance Corporation
Ms. Stockla joined us in 1998. She previously held the position of Manager, Application Development with Citizens Utilities
Company since 1996 and HRIS Tech Support Representative with Yale New Haven Hospital since 1993.
William H. Strong Vice President Vice President:
56 American Skandia Life
Assurance Corporation
Mr. Strong joined us in 1997. He previously held the position of Vice President with American Financial Systems from June 1994 to
October 1997 and the position of Actuary with Connecticut Mutual Life from June 1965 to June 1994.
Leslie S. Sutherland Vice President Vice President:
46 American Skandia
Marketing, Incorporated
Amanda C. Sutyak Vice President Vice President:
42 American Skandia Life
Assurance Corporation
Christian W. Thwaites Senior Vice President Senior Vice President:
42 and Director (since September, 2000) American Skandia
Marketing, Incorporated
Mr. Thwaites joined us in 1996. He previously held the position of consultant with Monitor Company since October 1995 and Vice
President with Aetna, Inc. since 1995.
Mary Toumpas Vice President Vice President and
48 Compliance Director:
American Skandia
Marketing, Incorporated
Ms. Toumpas joined us in 1997. She previously held the position of Assistant Vice President with Chubb Life/Chubb Securities
since 1973.
Bayard F. Tracy Senior Vice President and Senior Vice President:
52 Director (since September, 1994) American Skandia
Marketing, Incorporated
Deborah G. Ullman Senior Vice President Senior Vice President:
45 and Director (since September, 2000) American Skandia Life
Assurance Corporation
Ms. Ullman joined us in 1998. She previously held the position of Vice President with Aetna, Inc. since 1977.
Jeffrey M. Ulness Vice President Vice President:
39 American Skandia Life
Assurance Corporation
Brett M. Winson Senior Vice President and Senior Vice President:
44 Director (since March 2000) American Skandia, Inc.
Mr. Winson joined us in 1998. He previously held the position of Senior Vice President with Sakura Bank, Ltd. since 1990.
Item 26. Persons Controlled by or Under Common Control with the Depositor or Registrant: The Depositor does not directly or
indirectly control any person. The following persons are under common control with the Depositor by American Skandia Investment
Holding Corporation:
(1) American Skandia Information Services and Technology Corporation ("ASIST"): The organization is a general
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business corporation organized in the State of Delaware. Its primary purpose is to provide various types of
business services to American Skandia, Inc., formerly known as American Skandia Investment Holding Corporation,
and all of its subsidiaries including computer systems acquisition, development and maintenance, human resources
acquisition, development and management, accounting and financial reporting services and general office services.
(2) American Skandia Marketing, Incorporated ("ASM, Inc."): The organization is a general business corporation
-----------------------------------------------------------
organized in the State of Delaware. It was formed primarily for the purpose of acting as a broker-dealer in
securities. It acts as the principal "underwriter" of annuity contracts deemed to be securities, as required by
the Securities and Exchange Commission, which insurance policies are to be issued by American Skandia Life
Assurance Corporation. It provides securities law supervisory services in relation to the marketing of those
products of American Skandia Life Assurance Corporation registered as securities. It also may provide such
services in relation to marketing of certain public mutual funds. It also has the power to carry on a general
financial, securities, distribution, advisory, or investment advisory business; to act as a general agent or
broker for insurance companies and to render advisory, managerial, research and consulting services for
maintaining and improving managerial efficiency and operation.
(3) American Skandia Investment Services, Incorporated ("ASISI"): The organization is a general business corporation
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organized in the state of Connecticut. The organization is authorized to provide investment service and
investment management advice in connection with the purchasing, selling, holding or exchanging of securities or
other assets to insurance companies, insurance-related companies, mutual funds or business trusts. It's primary
role is expected to be as investment manager for certain mutual funds [to be made available primarily through the
variable insurance products of American Skandia Life Assurance Corporation.]
(4) Skandia Vida: This subsidiary of American Skandia Life Assurance Corporation was organized in March, 1995, and
------------
began operations in July, 1995. It offers investment oriented life insurance designed for long-term savings
products through independent banks and brokers in Mexico.
Item 27. Number of Contract Owners: As of May 31, 2000, there were no owners of Annuities.
Item 28. Indemnification: Under Section 33-320a of the Connecticut General Statutes, the Depositor must indemnify a director or
officer against judgments, fines, penalties, amounts paid in settlement and reasonable expenses including attorneys' fees, for
actions brought or threatened to be brought against him in his capacity as a director or officer when certain disinterested
parties determine that he acted in good faith and in a manner he reasonably believed to be in the best interests of the
Depositor. In any criminal action or proceeding, it also must be determined that the director or officer had no reason to believe
his conduct was unlawful. The director or officer must also be indemnified when he is successful on the merits in the defense of
a proceeding or in circumstances where a court determines that he is fairly and reasonable entitled to be indemnified, and the
court approves the amount. In shareholder derivative suits, the director or officer must be finally adjudged not to have breached
this duty to the Depositor or a court must determine that he is fairly and reasonably entitled to be indemnified and must approve
the amount. In a claim based upon the director's or officer's purchase or sale of the Registrants' securities, the director or
officer may obtain indemnification only if a court determines that, in view of all the circumstances, he is fairly and reasonably
entitled to be indemnified and then for such amount as the court shall determine. The By-Laws of American Skandia Life Assurance
Corporation ("ASLAC") also provide directors and officers with rights of indemnification, consistent with Connecticut Law.
The foregoing statements are subject to the provisions of Section 33-320a.
Directors and officers of ASLAC and ASM, Inc. can also be indemnified pursuant to indemnity agreements between each director and
officer and American Skandia, Inc., a corporation organized under the laws of the state of Delaware. The provisions of the
indemnity agreement are governed by Section 45 of the General Corporation Law of the State of Delaware.
The directors and officers of ASLAC and ASM, Inc. are covered under a directors and officers liability insurance policy issued by
an unaffiliated insurance company to Skandia Insurance Company Ltd., their ultimate parent. Such policy will reimburse ASLAC or
ASM, Inc., as applicable, for any payments that it shall make to directors and officers pursuant to law and, subject to certain
exclusions contained in the policy, will pay any other costs, charges and expenses, settlements and judgments arising from any
proceeding involving any director or officer of ASLAC or ASM, Inc., as applicable, in his or her past or present capacity as such.
Registrant hereby undertakes as follows: Insofar as indemnification for liabilities arising under the Securities Act of 1933 (the
"Act") may be permitted to directors, officers and controlling persons of Registrant pursuant to the foregoing provisions, or
otherwise, 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, therefore, is unenforceable. In the event that a claim for indemnification
against such liabilities (other than the payment by Registrant of expenses incurred or paid by a director, officer or controlling
person of 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, unless in the opinion of Registrant's counsel the matter
has been settled by controlling precedent, Registrant will submit to a court of appropriate jurisdiction the question whether such
indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such
issue.
Item 29. Principal Underwriters:
(a) At present, ASM, Inc. acts as principal underwriter only for annuities to be issued by ASLAC.
(b) Directors and officers of ASM, Inc.
Name and Principal Business Address Position and Offices with Underwriter
----------------------------------- -------------------------------------
Patricia J. Abram Senior Vice President
American Skandia Life Assurance Corporation
One Corporate Drive, P.O. Box 883
Shelton, Connecticut 06484-0883
Lori Allen Vice President
American Skandia Life Assurance Corporation
One Corporate Drive, P.O. Box 883
Shelton, Connecticut 06484-0883
Kimberly Anderson Vice President
American Skandia Life Assurance Corporation
One Corporate Drive, P.O. Box 883
Shelton, Connecticut 06484-0883
Gordon C. Boronow Deputy Chief Executive Officer
American Skandia Life Assurance Corporation and Director
One Corporate Drive, P.O. Box 883
Shelton, Connecticut 06484-0883
Robert Brinkman Senior Vice President
American Skandia Life Assurance Corporation
One Corporate Drive, P.O. Box 883
Shelton, Connecticut 06484-0883
Carl Cavaliere Vice President
American Skandia Life Assurance Corporation
One Corporate Drive, P.O. Box 883
Shelton, Connecticut 06484-0883
Y.K. Chan Senior Vice President and
American Skandia Life Assurance Corporation Chief Information Officer
One Corporate Drive, P.O. Box 883 and Director
Shelton, Connecticut 06484-0883
Kathleen A. Chapman Assistant Corporate Secretary
American Skandia Life Assurance Corporation
One Corporate Drive, P.O. Box 883
Shelton, Connecticut 06484-0883
Lucinda C. Ciccarello Vice President
American Skandia Life Assurance Corporation
One Corporate Drive, P.O. Box 883
Shelton, Connecticut 06484-0883
Lincoln R. Collins Director
American Skandia Life Assurance Corporation
One Corporate Drive, P.O. Box 883
Shelton, Connecticut 06484-0883
Timothy S. Cronin Vice President
American Skandia Life Assurance Corporation
One Corporate Drive, P.O. Box 883
Shelton, Connecticut 06484-0883
Wade A. Dokken President and Chief Executive Officer
American Skandia Life Assurance Corporation and Chairman of the Board of Directors
One Corporate Drive, P.O. Box 883
Shelton, Connecticut 06484-0883
Jacob Herchler Vice President
American Skandia Life Assurance Corporation
One Corporate Drive, P.O. Box 883
Shelton, Connecticut 06484-0883
Ian Kennedy Senior Vice President
American Skandia Life Assurance Corporation and Director
One Corporate Drive, P.O. Box 883
Shelton, Connecticut 06484-0883
Thomas M. Mazzaferro Executive Vice President and
American Skandia Life Assurance Corporation Chief Financial Officer
One Corporate Drive, P.O. Box 883 and Director
Shelton, Connecticut 06484-0883
David R. Monroe Senior Vice President,
American Skandia Life Assurance Corporation Treasurer and
One Corporate Drive, P.O. Box 883 Corporate Controller
Shelton, Connecticut 06484-0883
Michael A. Murray Senior Vice President
American Skandia Life Assurance Corporation
One Corporate Drive, P.O. Box 883
Shelton, Connecticut 06484-0883
Carl E. Oberholtzer Vice President
American Skandia Life Assurance Corporation
One Corporate Drive, P.O. Box 883
Shelton, Connecticut 06484-0883
William O'Loughlin Vice President
American Skandia Life Assurance Corporation
One Corporate Drive, P.O. Box 883
Shelton, Connecticut 06484-0883
M. Priscilla Pannell Corporate Secretary
American Skandia Life Assurance Corporation
One Corporate Drive, P.O. Box 883
Shelton, Connecticut 06484-0883
Kathleen A. Pritchard Vice President
American Skandia Life Assurance Corporation
One Corporate Drive, P.O. Box 883
Shelton, Connecticut 06484-0883
Polly Rae Vice President
American Skandia Life Assurance Corporation
One Corporate Drive, P.O. Box 883
Shelton, Connecticut 06484-0883
Rebecca Ray Senior Vice President
American Skandia Life Assurance Corporation
One Corporate Drive, P.O. Box 883
Shelton, Connecticut 06484-0883
Hayward L. Sawyer Senior Vice President
American Skandia Life Assurance Corporation
One Corporate Drive, P.O. Box 883
Shelton, Connecticut 06484-0883
Leslie S. Sutherland Vice President
American Skandia Life Assurance Corporation
One Corporate Drive, P.O. Box 883
Shelton, Connecticut 06484-0883
Amanda C. Sutyak Vice President
American Skandia Life Assurance Corporation
One Corporate Drive, P.O. Box 883
Shelton, Connecticut 06484-0883
Christian W. Thwaites Senior Vice President
American Skandia Life Assurance Corporation and Director
One Corporate Drive, P.O. Box 883
Shelton, Connecticut 06484-0883
Mary Toumpas Vice President and
American Skandia Life Assurance Corporation Compliance Director
One Corporate Drive, P.O. Box 883
Shelton, Connecticut 06484-0883
Bayard F. Tracy Senior Vice President
American Skandia Life Assurance Corporation and Director
One Corporate Drive, P.O. Box 883
Shelton, Connecticut 06484-0883
Deborah G. Ullman Senior Vice President
American Skandia Life Assurance Corporation and Director
One Corporate Drive, P.O. Box 883
Shelton, Connecticut 06484-0883
Brett M. Winson Director
American Skandia Life Assurance Corporation
One Corporate Drive, P.O. Box 883
Shelton, Connecticut 06484-0883
Item 30. Location of Accounts and Records: Accounts and records are maintained by ASLAC at its principal office in Shelton,
Connecticut.
Item 31. Management Services: None
Item 32. Undertakings:
(a) Registrant hereby undertakes to file a post-effective amendment to this Registration Statement as frequently as is
necessary to ensure that the audited financial statements in the Registration Statement are never more than 16 months old so long
as payments under the annuity contracts may be accepted and allocated to the Sub-accounts of Separate Account B.
(b) Registrant hereby undertakes to include either (1) as part of any enrollment form or application to purchase a contract
offered by the prospectus, a space that an applicant or enrollee can check to request a Statement of Additional Information, or
(2) a post card or similar written communication affixed to or included in the prospectus that the applicant can remove to send
for a Statement of Additional Information.
(c) Registrant hereby undertakes to deliver any Statement of Additional Information and any financial statements required to
be made available under this form promptly upon written or oral request.
(d) American Skandia Life Assurance Corporation ("Depositor") hereby represents that the aggregate fees and charges under the
annuity contracts are reasonable in relation to the services rendered, the expenses expected to be incurred, and the risks assumed
by the Depositor.
(e) With respect to the restrictions on withdrawals for Texas Optional Retirement Programs and Section 403(b) plans, we are
relying upon: 1) a no-action letter dated November 28, 1988 from the staff of the Securities and Exchange Commission to the
American Council of Life Insurance with respect to annuities issued under Section 403(b) of the code, the requirements of which
have been complied with by us; and 2) Rule 6c-7 under the 1940 Act with respect to annuities made available through the Texas
Optional Retirement Program, the requirements of which have been complied with by us.
EXHIBITS
As Noted in Item 24(b) various exhibits are incorporate by reference or are not applicable. The exhibits included are as follows:
No. 10 Consent of Ernst & Young LLP
SIGNATURES
As required by the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant certifies that it meets
the requirements of Securities Act Rule 485(b) for effectiveness of the Registration Statement and has duly caused this
Registration Statement to be signed on its behalf, in the Town of Shelton and State of Connecticut, on this 18th
day of January, 2001.
AMERICAN SKANDIA LIFE ASSURANCE CORPORATION VARIABLE ACCOUNT B
(CLASS 8 SUB-ACCOUNTS)
Registrant
By: American Skandia Life Assurance Corporation
-----------------------------------------------
By: /s/Kathleen A. Chapman Attest: /s/Scott K. Richardson
Kathleen A. Chapman, Assistant Corporate Secretary Scott K. Richardson
AMERICAN SKANDIA LIFE ASSURANCE CORPORATION
Depositor
By: /s/Kathleen A. Chapman Attest: /s/Scott K. Richardson
Kathleen A. Chapman, Assistant Corporate Secretary Scott K. Richardson
As required by the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities
and on the date indicated.
Signature Title Date
--------- ----- ----
(Principal Executive Officer)
Wade A. Dokken* President and Chief Executive Officer, 1/18/01
---------------
Wade A. Dokken Chairman of the Board and Director
(Principal Financial Officer and Principal Accounting Officer)
/s/Thomas M. Mazzaferro Executive Vice President and 1/18/01
Thomas M. Mazzaferro Chief Financial Officer
/s/David R. Monroe Senior Vice President, Treasurer 1/18/01
David R. Monroe and Corporate Controller
(Board of Directors)
Patricia Abram*** Gordon C. Boronow* Malcolm M. Campbell*
----------------- ------------------ --------------------
Patricia Abram Gordon C. Boronow Malcolm M. Campbell
Wade A. Dokken* Y.K. Chan*** Lincoln R. Collins*
--------------- ------------ -------------------
Wade A. Dokken Y.K. Chan Lincoln R. Collins
Ian Kennedy*** Thomas M. Mazzaferro* Gunnar Moberg*
-------------- --------------------- --------------
Ian Kennedy Thomas M. Mazzaferro Gunnar Moberg
Christian Thwaites*** Bayard F. Tracy* Deborah G. Ullman***
--------------------- ---------------- --------------------
Christian Thwaites Bayard F. Tracy Deborah G. Ullman
Brett M. Winson**
-----------------
Brett M. Winson
*/**/***By: /s/Kathleen A. Chapman
Kathleen A. Chapman
*Pursuant to Powers of Attorney previously filed with Initial Registration Statement No. 333-25733
**Pursuant to Power of Attorney filed with Post-Effective Amendment No. 4 to Registration Statement No. 333-25733
***Pursuant to Powers of Attorney filed with Post-Effective Amendment No. 11 to Registration Statement No. 33-87010
