CONNECTICUT MUTUAL INVESTMENT ACCOUNTS, INC.
(the "Company")
SUPPLEMENT DATED NOVEMBER 20, 1995 TO THE PROSPECTUS
Dated March 31, 1995
CMIA National Municipals Account
CMIA California Municipals Account
CMIA Massachusetts Municipals Account
CMIA New York Municipals Account
CMIA Ohio Municipals Account
(the "Municipal Accounts")
At a meeting of the Company's Board of Directors on November 17, 1995, the
Board approved several changes to the management of the Company and the
Municipal Accounts as a result of the impending merger (the "Merger") between
Connecticut Mutual Life Insurance Company ("Connecticut Mutual") and
Massachusetts Mutual Life Insurance Company ("Massachusetts Mutual").
Connecticut Mutual is the indirect parent company of G.R. Phelps & Co., Inc.
("G.R. Phelps"), the current administrator to the Municipal Accounts. The
Merger will not result in any immediate change to the arrangement whereby
each Municipal Account invests substantially all its assets in a corresponding
Portfolio sponsored by Eaton Vance Management. The Merger is expected to be
consummated during the first three months of 1996.
As of the date of this supplement, the Board of Directors has approved
suspension of sales of the Municipal Accounts to investors except that shares
will be issued to permit reinvestment of dividends and purchase of additional
shares on an Account by shareholders with existing accounts.
The Board has approved the following changes subject to consummation
of the Merger and the approval of the Municipal Accounts' shareholders,
all changes to be effective during the 90 day period following these events
except as otherwise noted:
* The selection of Oppenheimer Funds Distributor, Inc. ("OFD"), an
affiliate of Oppenheimer Management Corporation ("Oppenheimer"), as the
principal underwriter of the Accounts' shares.
* The amendment of Account's Class A Rule 12b-1 distribution plans to
permit the payment of service fees to OFD and others, including
affiliates of OFD ("Qualified Recipients").
The maximum level of payment to OFD and Qualified Recipients
pursuant to the Class A Rule 12b-1 plans will not be increased
from the present maximum level.
* The nomination of twelve (12) new directors to serve as the Company's
Board of Directors. (Effective 90 days after the consummation of the
Merger.)
Until the transition to full service by Oppenheimer and its affiliates to
the Municipal Accounts is completed during the 90 day period after the
consummation of the Merger, distribution services will continue to be provided
by Connecticut Mutual Financial Services, L.L.C. (the current distributor) and
transfer agency and shareholder services will be provided by National Financial
Data Services (the current transfer agent).
The Board has also approved the appointment of Oppenheimer Shareholder
Services as the Company's transfer agent and shareholder servicing agent.
November 20, 1995
