<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form N-1
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
Post-Effective Amendment No. 62 (File No. 2-29081) [X]
and/or
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY
ACT OF 1940
Amendment No. 23 (File No. 811-1653) [X]
IDS Life Variable Annuity Fund A (Individual and Employer)
- --------------------------------------------------------------------------------
IDS Tower 10, Minneapolis, Minnesota 55440-0010
- --------------------------------------------------------------------------------
(612) 671-3678
- --------------------------------------------------------------------------------
Mary Ellyn Minenko - IDS Tower 10, Minneapolis 55440-0010
- --------------------------------------------------------------------------------
Approximate Date of Proposed Public Offering
It is proposed that this filing will become effective (check appropriate box)
[] immediately upon filing pursuant to paragraph (b)
[] on (date) pursuant to paragraph (b)
[] 60 days after filing pursuant to paragraph (a)
[X] on April 16, 1999 pursuant to paragraph (a)(1) of rule 485
The Registrant has registered an indefinite number or amount of securities under
the Securities Act of 1933 pursuant to section 24-F of the Investment Company
Act of 1940.
<PAGE>
IDS Life Variable Annuity Fund A Post-Effective
(Individual and Employer) Amendment No. 62
Registration Form N-1
Cross reference sheet showing location in the prospectus of the information
called for by the items enumerated in Part I of Form N-1.
Negative answers omitted from prospectus are so indicated.
IDS LIFE VARIABLE ANNUITY FUND A (INDIVIDUAL AND EMPLOYER)
Section
Item No. In Prospectus
1 Cover
2 Summary of Contents
3 Financial Highlights
4 (a) History
(b) Not Applicable
(c) Not Applicable
5 (a) Investment Objective
(b) Investments the Fund will not make
(c) Investment objective
(d) Financial Highlights; Investment objective
6 (a) Tax charges
(b) Tax charges; What about your taxes?
(c) Not Applicable
(d) Not Applicable
7 (a) Brokerage
(b) Brokerage
(c) Brokerage
(d) Not Applicable
8 Not Applicable
9 (a) Ownership of IDS Life and American Express Financial
Corporation
(b) Not Applicable
(c) Members of the Board of Managers and Officers of the
Fund
10 Members of the Board of Managers and Officers of the
Fund
11 Not Applicable
12 (a) Custodian
(b) Not Applicable
<PAGE>
13 (a) Investment agreements; Brokerage; Ownership of IDS
Life and American Express Financial Corporation
(b) Not Applicable
(c) Not Applicable
(d) Not Applicable
14 (a) Voting rights
(b) Not Applicable
15 (a) Measuring the value of your contract; Dates we
revalue-Valuation date; The Valuation period; Valuing
Fund assets; The charges you pay
(b) Automated transfers and partial surrenders; Valuing
an annuity unit; Annuity payment starting date; Table
of settlement rates; Annuity payment plans;
Determination of monthly annuity payments for
deferred contracts; Determination of monthly annuity
payments for immediate contracts; Surrendering your
contract; Making withdrawals on your contract;
Special rules if the annuitant dies before the
annuity payment starting date; Your right to cancel
installment contracts
(c) Not Applicable
16 (a) Investment agreements; Brokerage; Cover; Annuity
payment plans; The charges you pay; Making
withdrawals on your contract
(b) Directors and officers of IDS Life Insurance Company;
Other affiliations
(c) The charges you pay
(d) Not Applicable
17 Not Applicable
18 Financial statements; IDS Life Financial Information
<PAGE>
IDS Life Variable Annuity Fund A
Individual Variable Annuity Contracts and Variable Annuity Contracts for
Employer Plans
Prospectus/April 30, 1999
IDS Life Variable Annuity Fund A (the Fund) is a segregated asset account of IDS
Life Insurance Company (IDS Life). The investment objective of the Fund is
long-term capital appreciation. The Fund invests primarily in common stocks of
U.S. corporations. The Fund also may invest in preferred stocks and in corporate
and government bonds.
This prospectus describes the following types of individual non-qualified,
variable annuity contracts offered by IDS Life:
o an annuity for non-qualified retirement or deferred compensation plans or
programs adopted by an employer.
o an installment payment deferred annuity;
o a single payment deferred annuity; and
o a single payment immediate annuity.
New contracts are not currently being offered. This prospectus gives you facts
about the Fund. You should read it and keep it with your investment records for
future reference.
The Securities and Exchange Commission has not approved or disapproved these
securities or passed upon the accuracy of this prospectus. Any representation to
the contrary is a criminal offense.
An investment in this annuity is not a deposit of a bank or financial
institution and is not insured or guaranteed by the Federal Deposit Insurance
Corporation or any other government agency. An investment in this annuity
involves risk including the possible loss of principal.
IDS Life Variable Annuity Fund A
IDS Tower 10
Minneapolis, Minnesota 55440-0010
General Information (612) 671-3733
Annuity Service (612) 671-4738
(800) 437-0602
<PAGE>
IDS Life Variable Annuity Fund A
IDS Life Insurance Company
IDS Tower 10
Minneapolis, Minnesota 55440-0010
Prospectus, April 30, 1999 Individual Variable Annuity Contracts and Variable
Annuity Contracts For Employer Plans
<PAGE>
Table of contents....................................................Page
Summary of Contents......................................................
Financial highlights.....................................................
The variable annuity.....................................................
Investment objective.....................................................
Investments the Fund will not make.......................................
Portfolio manager........................................................
Investment agreements....................................................
Brokerage................................................................
The contracts............................................................
The fixed account........................................................
Automated transfers and partial surrenders...............................
Measuring the value of the contract......................................
Valuing Fund Assets......................................................
When we credit your purchase payments....................................
The investment factor....................................................
Valuing an accumulation unit.............................................
Valuing an annuity unit..................................................
Annuity payment starting date............................................
Table of settlement rates................................................
Annuity payment plans....................................................
The charges you pay......................................................
Surrendering your contract...............................................
Making withdrawals on your contract......................................
Special rules if annuitant dies before
the annuity payment starting date........................................
Your right to cancel installment contracts...............................
What about your taxes?...................................................
Voting rights............................................................
Management...............................................................
Directors and officers of IDS Life Insurance Company.....................
Other Information........................................................
Insurance regulation.....................................................
Financial statements.....................................................
<PAGE>
Summary of Contents
About the variable annuity - IDS Life offers the variable annuities for sale
through the Fund, a diversified open-end management investment company. Variable
annuity contracts guarantee regular payments to contract purchasers. The amount
of these payments is influenced by the performance of the securities in which
the Fund invests (page __).
Financial highlights - This table shows important financial information you will
need to evaluate the Fund's performance (page __).
Investment objective - The Fund's investment objective is long-term capital
appreciation in order to build up values and to make annuity payments. The Fund
invests primarily in common stock and also may invest in preferred stock and in
government and corporate bonds. The Fund may invest in foreign securities,
futures contracts and options. There is no guarantee that the Fund will achieve
its investment objective because any investment involves risk (page __).
Portfolio manager - Mitzi Malevich, senior portfolio manager, manages the Fund
(page __).
Investment agreements - The Fund is a segregated asset account of IDS Life, a
stock life insurance company. IDS Life manages the investments of the Fund
pursuant to an Investment Management Agreement. Under this agreement, IDS Life
receives a management fee equal to 0.4% of the Fund's average daily net assets
for each year. Under a Distribution and Services Agreement, IDS Life also serves
as principal underwriter of the Fund. IDS Life annually pays 0.25% of the Fund's
net assets to American Express Financial Corporation for investment advice
regarding management of the Fund's investments (page __).
Contracts - This prospectus describes the following types of individual
non-tax-qualified variable annuity contracts:
o An individual variable annuity contract for use in connection with
non-qualified retirement or deferred compensation plans or programs
adopted by an employer. These plans or programs are not intended to
qualify under Sections 401, 403, or 408 of the Internal Revenue Code of
1986, as amended (the Code). Under this contract, you make an annual
purchase payment. To determine the amount of this payment, multiply the
amount by the number of contract years between the application date and
the retirement date. This amount must be at least equal to the larger
of:
o $3,000; or
o........$300 a year
You also can choose from several optional settlement plans. However, if
at the annuity payment starting date the accumulation value of the
contract is less than $2,000, IDS Life may pay the accumulation value
in a lump sum (page __);
o A single payment deferred annuity that you can purchase by making an
initial payment of at least $3,000 (page __);
<PAGE>
o A single payment immediate annuity that you can purchase by making an
initial payment of at least $3,000 (page __); and
o An installment payment deferred annuity that you can purchase by making
10 or more annual payments that total at least $300 (page __).
Who owns the contract? - The annuitant is the owner, unless your application
says otherwise, or if you later transfer ownership of the contract to someone
else.
If the contract is purchased by an employer in connection with a deferred
compensation plan, the employer is the exclusive owner of all rights under the
contract. When the contract refers to the employer as "an annuitant", it is
solely for purposes of identification. IDS Life pays all funds payable under the
contract to the employer. IDS Life does not issue certificates to any employee
of an employer who has entered into a deferred compensation agreement. Any
employee participating in a deferred compensation plan should refer to the
deferred compensation agreement with the employer for information on any
additional charges in connection with the plan.
Transfers between accounts - Before the annuity payment starting date, you may
give IDS Life written or telephone instructions to transfer the contract value
of your investment between the fixed account and the variable account. Transfers
must be for at least $50 and will go into effect when IDS Life then records it
at its corporate office (page __).
Charges you pay - IDS Life will deduct a combined sales and administrative
charge from payments you make into the Fund.
For the individual variable annuity contract used with non-qualified plans
adopted by an employer, the deduction is 5.75% of the first $10,000 paid into
the Fund, 4% of the next $40,000 and 2% of all amounts in excess of $50,000
(page __).
For the other three individual annuity contracts, if you make a single payment,
the deduction is 8% of the first $15,000, 5% of the next $10,000 and 2% of any
further amounts. If you choose to make installment payments, the deductions
average 8.7% over the first 10 years. You may lose money if you surrender your
individual installment contract too soon because the percentage that IDS Life
deducts is higher in the earlier years (20% for the first year of an installment
payment contract, 18% for the second and third contract years, 7% for the fourth
year and 4% thereafter) (page __).
Additionally, IDS Life may deduct for premium taxes. Most states don't have
premium taxes but in those that do, IDS Life may make a deduction. State premium
taxes range from 0 to 3.5% of the gross purchase payments. You may receive some
money in excess of the amount requested if, as a result of your surrender, the
Fund's state premium tax liability is reduced (page __).
<PAGE>
Surrendering your contract - You can surrender all or part of a deferred annuity
contract any time before the annuity payment starting date by giving IDS Life
written or telephone instructions. IDS Life will cash in the number of
accumulation units or fixed dollar accumulation value required for the amount of
money you request. IDS Life will give accumulation units the accumulation unit
value it determines on the date IDS Life receives your request. However, you
can't surrender part of your contract if the remaining accumulation value is
less than $20. You cannot make any surrenders after annuity payments have
started. You will pay income tax on the taxable part of your surrender and you
may have to pay an IRS penalty tax on early withdrawal if you surrender part or
all of your contract before reaching age 59-1/2.
A surrender may result in adverse tax consequences. You should consult a tax
advisor before making a surrender request (page __).
Federal Tax Information - According to current interpretations of federal income
tax law, generally there is no federal income tax on any increase in your
annuity's value until you receive a distribution. Under certain circumstances,
there may be a 10% IRS penalty tax on early withdrawal (page ___).
Additional Information
For information about the Fund's history, organization and headquarters as well
as information about IDS Life and American Express Financial Corporation (AEFC),
see page __.
<PAGE>
<TABLE>
<CAPTION>
Financial highlights from Jan 1, 1989 to Dec. 31, 1998
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Year ended Dec. 31, 1998 1997 1996 1995 1994 1993 1992 1991 1990 1989
- ---------------------------- --------- ----------- ---------- ---------- --------- --------- --------- -------- --------- ----------
Accumulation unit value at
beginning of year $17.04 $13.93 $10.27 $10.70 $9.77 $9.13 $6.10 $5.98 $4.58
- ---------------------------- --------- ----------- ---------- ---------- --------- --------- --------- -------- --------- ----------
Income from investment
operations:
Net investment income (loss) (.07) (.07) (.02) .03 (.02) (.03) .02 .06 .05
Net gains (losses) on
securities, both realized
and unrealized 3.94 3.18 3.68 (.46) .95 .67 3.01 .06 1.35
- ---------------------------- --------- ----------- ---------- ---------- --------- --------- --------- -------- --------- ----------
Total from investment
operations 3.87 3.11 3.66 (.43) .93 .64 3.03 .15 1.40
- ---------------------------- --------- ----------- ---------- ---------- --------- --------- --------- -------- --------- ----------
Accumulation unit value at
end of year $20.91 $17.04 $12.93 $10.27 $10.70 $9.77 $9.13 $6.10 $5.98
- ---------------------------- --------- ----------- ---------- ---------- --------- --------- --------- -------- --------- ----------
Total return* 22.71% 22.33% 35.64% (4.01%) 9.50% 6.97% 49.83% 1.97% 30.60%
- ---------------------------- --------- ----------- ---------- ---------- --------- --------- --------- -------- --------- ----------
Ratios/Supplemental Data
- ---------------------------- --------- ----------- ---------- ---------- --------- --------- --------- -------- --------- ----------
Total contract owner's
equity at end of year (000 $379,553 $327,778 $284,407 $223,317 $241,623 $228,366 $222,205 $155,426 $163,568
omitted)
Ratio of operating expenses
to average net assets 1.40% 1.40% 1.40% 1.40% 1.40% 1.40% 1.41% 1.41% 1.43%
Ratio of net investment
income (loss) to average
net assets (.62%) (.43%) (.19%) .27% (.17%) (.30%) .22% .97% .99%
Portfolio turnover rate 33% 13% 46% 63% 64% 74% 68% 56% 55%
Average brokerage
commission rate** $.0502 $.0550 -- -- -- -- -- -- --
- ---------------------------- --------- ----------- ---------- ---------- --------- --------- --------- -------- --------- ----------
</TABLE>
*Total return does not reflect payment of a sales charge.
** Effective fiscal year 1996, the Fund is required to disclose an average
brokerage commission rate per share for security trades on which commissions are
charged. The comparability of this information may be affected by the fact that
commission rates per share vary significantly among foreign countries.
This table pertains to accumulation units only. When you begin to receive your
annuity payments, accumulation units change to annuity units. The value of an
annuity unit (assuming a 3.5% investment rate) was $___ as of Dec. 31, 1998,
$7.55 as of Dec. 31, 1997 $6.37 as of Dec. 31, 1996, $5.39 as of Dec. 31, 1995,
$4.11 as of Dec. 31, 1994, $4.44 as of Dec. 31, 1993, $4.19 as of Dec. 31, 1992,
$4.06 as of Dec. 31, 1991, $2.80 as of Dec. 31, 1990 and $2.84 as of Dec.
31, 1989. The value of an annuity unit (assuming a 5% investment rate) was $___
as of Dec. 31, 1998, $4.92 as of Dec. 31, 1997 $4.21 as of Dec. 31, 1996, $3.61
as of Dec. 31, 1995, $2.80 as of Dec. 31, 1994, $3.06 as of Dec. 31, 1993, $2.93
as of Dec. 31, 1992, $2.88 as of Dec. 31, 1991, $2.02 as of Dec. 31, 1990 and
$2.08 as of Dec. 31, 1989.
The information in this table is derived from financial statements of the Fund
that have been audited by Ernst & Young LLP, independent auditors. The
independent auditor's report and additional information about the performance of
the Fund are in the Fund's annual report, which you can obtain without charge if
it is not included with this prospectus.
<PAGE>
The variable annuity
An annuity is a contract with a life insurance company that guarantees regular
income to the purchaser. Most people buy annuities to provide income in their
retirement years. When many people think of an annuity, they think of a fixed
dollar annuity. With a fixed dollar annuity, the insurance company bears the
risk of investment gain or loss and guarantees payment of an exact monthly
amount. A variable annuity also guarantees you regular payments. However, the
amount of the payments will fluctuate with the performance of the securities in
which the annuity fund invests. So if the securities go up in value, you may
receive larger annuity payments. If they go down, you may receive smaller
annuity payments.
Investment objective
The Fund's investment objective is long-term capital appreciation so that the
Fund can build up values and increase the size of annuity payments. There is no
guarantee the Fund will achieve its investment objective because any investment
involves risk. IDS Life can change the Fund's investment objective without the
approval of the Fund's contract holders, but IDS Life has no intention of doing
so.
The Fund invests primarily in U.S. common stocks. The Fund also may invest in
preferred stocks and in corporate and government bonds. Some bonds issued by
agencies of the U.S. government are not supported by the full faith and credit
of the United States.
The Fund may invest up to 30% of its total assets at the time of purchase in
foreign securities. In selecting foreign investments, the Fund generally will
seek to invest in companies that it anticipates will experience economic growth
at least as great as that anticipated in the U.S. companies in which it invests.
The securities that the Fund believes offer attractive opportunities for
investment may change from time to time. Foreign investments may be subject to
additional risks, including future political and economic developments, the
possible imposition of withholding taxes on dividend income, the seizure or
nationalization of companies, the establishment of exchange controls or the
adoption of other restrictions that might adversely affect an investment.
The Fund may invest in the securities of foreign issuers directly or in the form
of American Depository Receipts (ADRs). ADRs are receipts typically issued by a
U.S. bank or trust company that evidence ownership of underlying securities
issued by a foreign corporation. Since investments in foreign securities will
involve currencies of foreign countries, the value of the Fund's assets as
measured in U.S. dollars may be affected favorably or unfavorably by changes in
currency rates and in exchange control regulations. The Fund also may enter into
forward commitments for the purchase or sale of foreign currencies, but only in
connection with the settlement of foreign securities transactions and not for
speculative purposes.
The Fund may enter into a forward contract to buy or sell foreign currencies.
For example, if the Fund believes the value of the U.S. dollar will decline in
relationship to a foreign currency, the Fund will buy the foreign currency at
today's price in U.S. dollars agreeing to pay for the currency at a future date.
If the U.S. dollar declines, then the foreign currency can be sold for more U.S.
dollars than it cost and the Fund realizes a profit. If the U.S. dollar does not
decline as expected, the Fund will sustain a loss because it entered into the
forward contract. The Fund will not enter into forward contracts in excess of an
offsetting position of cash and investment in U.S. dollars.
<PAGE>
The Fund may buy or write (sell) options traded on any U.S. or foreign exchange
or in the over-the-counter market. It may write covered call options on
individual securities. It will purchase options in the over-the-counter market
only when the investment manager believes a liquid secondary market exists for
the options and only from dealers and institutions the investment manager
believes present a minimal credit risk. Some options are exercisable only on a
specific date. In that case, or if a liquid secondary market does not exist, the
Fund may have to buy or sell securities at a loss. In covered call options, the
seller owns the underlying security required to be sold upon exercise of the
option.
Options can be used to produce incremental earnings, protect gains and
facilitate buying and selling securities. The writer of an option agrees to buy
or sell a security at a fixed price and could forgo a profit or incur a loss
from a change in the market price of the security. The purchaser of an option
pays a premium whether or not it exercises the option. If a liquid secondary
market does not exist at a particular time, it might not be possible to close an
option position when it is desirable to do so. The Fund may buy put and call
options as a trading technique.
For temporary purposes, the Fund may make certain investments. It may buy
short-term U.S. and Canadian government securities. It may invest in bank
obligations including negotiable certificates of deposit, non-negotiable fixed
time deposits, bankers' acceptances and letters of credit. The Fund may buy
short-term corporate notes and obligations rated in the top two classifications
or the equivalent by Standard and Poor's, Moody's.
The Fund does not look to buy and sell stocks for the short-term, but will do so
if it is appropriate. The Fund may enter into repurchase agreements with certain
banks or non-bank dealers. In a repurchase agreement, the Fund buys a security
at one price, and at the time of sale, the seller agrees to repurchase the
obligation at a mutually agreed upon time and price (usually within seven days).
The repurchase agreement, thereby, determines the yield during the purchaser's
holding period, while the seller's obligation to repurchase is secured by the
value of the underlying security. Repurchase agreements could involve certain
risks in the event of a default or insolvency of the other party to the
agreement, including possible delays or restrictions upon the Fund's ability to
dispose of the underlying securities. A specific risk of a repurchase agreement
is that if the seller seeks the protection of bankruptcy laws, the Fund's
ability to liquidate the security involved could be impaired.
The Fund may enter into stock index futures contracts traded on any U.S. or
foreign exchange. The Fund may buy or write put and call options on these
futures and on stock indexes. These instruments may be considered speculative
and may expose the Fund to greater risk. Stock index futures contracts, options
on futures contracts and options on stock indexes must be used as a hedge. This
means they must be used to offset changes in the value of some or all the Fund's
existing investments in stocks or be offset by the Fund's cash position. The
futures contracts and related options may help the Fund gain rapid exposure to
the market or to offset anticipated declines in values of investments.
Successful hedges depend on the portfolio manager's ability to predict the
future direction of stock prices or interest rates. If the portfolio manager's
prediction is incorrect, the Fund would have been better off if no hedge had
been made. Also, skills and techniques necessary to arrive at such predictions
are different from those needed for predicting changes in individual stocks.
<PAGE>
No more than 5% of the Fund's net assets can be used at any one time for good
faith deposits on futures and premiums for options on futures that do not offset
existing investment positions.
The Fund will not buy securities on margin or sell short.
The Fund will not invest in illiquid securities if, immediately after making
such an investment, more than 10% of the Fund's net assets, at market, would be
invested in such securities. For valuation, see page __ of the prospectus.
The Fund will not buy securities of any investment trust or investment company,
except by purchase in the open market where the dealer's or sponsor's profit is
the regular commission. The Fund does not intend to invest in these securities
but may do so to the extent of not more than 15% of the Fund's net assets (taken
at market or other current value).
In spite of any of the Fund's other investment policies, the Fund may invest its
assets in an open-end management investment company having substantially the
same investment objectives, policies and restrictions as the Fund for the
purpose of having those assets managed as part of a combined pool.
The Board of Managers of the Fund can change the investment policies described
above.
The prices of the securities in which the Fund invests fluctuate daily. This
means that the value of your contract goes up and down. If values go down, your
contract may be worth less than what you paid for it.
Investments the Fund will not make
The Fund observes the following fundamental investment restrictions, that cannot
change without approval by a vote of the contract holders:
o The Fund will not borrow money or property except as a temporary
measure for extraordinary or emergency purposes, in an amount not
exceeding one-third of the market value of its total assets (including
borrowings) less liabilities (other than borrowings) immediately after
the borrowing.
o The Fund shall not underwrite securities of other issuers. However,
this shall not preclude the purchase of securities for investment, on
original issue or otherwise, and shall not preclude the acquisition of
portfolio securities under circumstances where the Fund would not be
free to sell them without being deemed an underwriter for purposes of
the Securities Act of 1933 (1933 Act) and without registration of such
securities or the filing of a notification under that Act, or the
taking of similar action under other securities laws relating to the
sale of securities.
o The Fund does not intend to concentrate investments in any particular
industry, but reserves freedom of action to do so provided that not
more than 25% of its total assets, taken at cost, may be so invested at
any one time.
<PAGE>
o The Fund may invest up to 10% of its total assets, taken at cost, in
real properties, but will not do so as a principal activity.
o The Fund will not invest more than 5% of its total assets, at market
value, in securities of any one company, government or political
subdivision. The limitation will not apply to investments in securities
issued by the U.S. government, its agencies or instrumentalities. Up to
25% of the Fund's total assets may be invested without regard to this
5% limitation.
o The Fund will not purchase securities of any issuer if immediately
after, and as a result of a purchase, the Fund would own more than 10%
of the outstanding voting securities of the issuer.
o The Fund may not make cash loans if the total commitment amount exceeds
5% of the Fund's total assets.
o The Fund will not buy or sell physical commodities unless acquired as a
result of ownership of securities or other instruments. This shall not
prevent the Fund from buying or selling options and futures contracts
or from investing in securities or other instruments backed by, or
whose value is derived from, physical commodities.
Portfolio manager
Mitzi Malevich joined American Express Financial Corporation in 1983 and serves
as vice president and senior portfolio manager. She was appointed to manage this
fund and IDS Life Variable Annuity Fund B (Fund B) in January 1995, and has
managed IDS Growth Fund since 1992. Prior to that, she was a portfolio manager
of pension fund accounts.
Investment agreements
IDS Life is the Fund's investment manager. Under the Investment Management
Agreement between IDS Life and the Fund, IDS Life charges a fee for managing the
Fund's investments. This amounts to 0.4% of the Fund's average daily net assets
for the year.
IDS Life does not keep all of this fee. IDS Life and AEFC have an Investment
Advisory Agreement that calls for IDS Life to pay AEFC a fee for serving as
investment advisor for the Fund. The fee is 0.25% of the Fund's average daily
net assets for the year.
In addition to paying its own management fee, the Fund also pays all brokerage
commissions and charges in the purchase and sale of assets. Brokerage charges
are paid to IDS Life for reimbursement of charges incurred in the purchase and
sale of foreign securities.
An Investment Management Agreement and an Advisory Agreement were approved by
the contract holders on Dec. 30, 1983, as a result of the IDS/American Express
Company merger. Both agreements will continue each year as long as they are
approved:
<PAGE>
o by a majority of the Board of Managers of the Fund or a majority of the
outstanding votes of the Fund, and
o by a majority of the Board of Managers of the Fund who are not "interested
persons" of IDS Life or American Express Financial Corporation.
All votes by the Board of Managers must be taken at a meeting called
specifically to approve or disapprove the agreements and all votes must be cast
in person.
IDS Life may cancel either of its agreements without penalty, provided it gives
60 days' notice in writing. AEFC and the Fund may do the same. If the Fund
decides to cancel its management agreement with IDS Life, it must have the
approval of either the Board of Managers or a majority of the votes of contract
holders. If there is any assignment of either agreement, it ends immediately.
Brokerage
Under the Investment Management Agreement, IDS Life has responsibility for
making the Fund's investment decisions, for executing trades for the Fund's
portfolio and for negotiating any brokerage commissions. IDS Life intends to
direct AEFC to execute trades and negotiate commissions on its behalf. These
services are covered by the Investment Advisory Agreement between AEFC and IDS
Life. When AEFC acts on IDS Life's behalf for the Fund, it follows the rules
described here for IDS Life. The Fund paid total brokerage commissions for each
of the last three years as follows: $___ for 1999, $182,019 for 1997 and $89,747
for 1996. IDS Life intends to continue to examine and consider ways to reduce
brokerage costs.
The Investment Management Agreement generally requires IDS Life to use its best
efforts to obtain the best available price and the most favorable execution.
However, brokerage firms may provide some extra services, including economic or
investment research and analysis. Sometimes it may be desirable to compensate a
broker for research or brokerage services by paying a commission that it might
not otherwise charge or a commission in excess of what another broker might
charge. The Board of Managers has adopted a policy authorizing IDS Life to do so
to the extent authorized by law, if IDS Life determines, in good faith, that the
amount of commission is reasonable in relation to the value of the brokerage or
research services provided by the broker.
In purchases and sales of securities involving transactions not listed on an
exchange or in listed securities that are traded off of the exchange, the Fund
will deal with a market maker as principal, or a broker as agent, depending upon
the method IDS Life believes will produce the best available price and most
favorable execution as described above. In transactions with a broker who acts
as principal, commissions generally are not stated separately, but are included
in the price of the securities.
AEFC gives investment advice to a number of investment companies and mutual
funds. Where more than one of these companies or funds are interested in the
same securities at the same time, AEFC carries out the sale or purchase in a way
that all agree in advance is fair.
Sharing in a large transaction may affect the price or volume of shares
acquired. But by these transactions, the Fund hopes to gain an advantage in
execution.
<PAGE>
The Fund may pay brokerage commissions to broker-dealer affiliates of IDS Life,
AEFC and American Express Company.
The contracts
This prospectus describes the following types of individual non-qualified
variable annuity contracts:
o An individual variable annuity contract offered for sale in connection
with an employer plan that, as of Dec. 8, 1981, had already purchased
one or more Fund annuity contracts. These plans or programs are not
intended to qualify under Sections 401, 403, or 408 of the Code. Your
purchase payment for this contract is made by a number of annual
payments;
o Installment payment - deferred annuity. You make purchase payments in
installments over a number of years. Annuity payments will begin at
some future date after you have paid all installments;
o Single payment - deferred annuity. You make a single purchase payment.
Annuity payments are deferred until some future date; and
o Single payment - immediate annuity. You make a single purchase payment.
Annuity payments will start within 60 days after IDS Life approves your
application.
The fixed account
The fixed account is an additional account to which you may allocate purchase
payments and contract values. It provides guaranteed values and periodically
adjusted interest-crediting rates.
If you have a deferred annuity contract, you can change your mind from time to
time and apply all or part of your future purchase payments to the fixed
account.
Also, the contract provides that once each contract year, you can transfer
accumulation values of at least $250 from the variable account to the fixed
account or from the fixed account to the variable account. This right ends 30
days before annuity payments begin. Presently, IDS Life does not intend to limit
the number of transfers from the variable account to the fixed account; however,
IDS Life limits transfers from the fixed account to the variable account to one
per contract year. Just write or telephone IDS Life and indicate the dollar
amount, percentage of, or number of variable accumulation units to transfer from
the Fund or the amount of fixed dollar accumulation value to transfer to the
Fund.
Automated transfers and partial surrenders
IDS Life currently allows deferred annuity contract holders to establish:
o automated transfers of contract values between the fixed account and
variable account; or
o automated partial surrenders of contract values. Both services can be in
effect at the same time. You can establish them through a one-time written
or telephone request to IDS Life.
The minimum transfer amount from any account or partial surrender amount from
the contract is $50 and you can make the transfer or surrender on a monthly,
quarterly, semi-annual or annual basis. You may start or stop this service at
any time but you must give IDS Life 30 days' notice to change any automated
transfer or surrender instructions that are currently in place. Automated
transfers or partial surrenders are subject to all of the other contract
provisions and terms including provisions relating to the transfer of money
between accounts. They are not available for 1969 Series Contracts that were
issued prior to May 1971.
Automated transfers from the fixed account may not exceed an amount that will
deplete the fixed account within 12 months. If you have made any type of
transfer from the fixed account, you may not transfer contract values from the
variable account back to the fixed account until the next contract anniversary.
Under some contracts, applicable law may restrict automated partial surrenders.
When automated partial surrenders are in effect, additional purchase payments
may not be appropriate and, therefore, are not permitted.
IDS Life has the authority to honor any telephone requests believed to be
authentic and will use reasonable procedures to confirm that they are. This
includes asking identifying questions and tape recording calls. As long as IDS
Life follows the procedures IDS Life and its affiliates will not be liable for
any loss resulting from fraudulent requests. IDS Life will process your transfer
and/or variable surrender request at the close of business (when the New York
Stock Exchange (NYSE) closes, normally 3 p.m. Central time) after we receive it.
At times when the volume of telephone requests is unusually high, IDS Life will
take special measures to ensure that your call is answered as promptly as
possible. IDS Life will not allow a telephone surrender request within 30 days
of a phoned-in address change.
You may request that telephone withdrawals not be authorized from your account
by writing IDS Life.
Automated partial surrenders may result in income taxes and IRS penalty taxes
being applied to all or a portion of the amount surrendered. See the sections on
Tax charges and Surrendering your contract (page __).
Consult your tax advisor if you have any questions about the taxation of your
annuity.
Measuring the value of your contract
Because values are always changing with the performance of the Fund's
investments, it is not easy to measure value with a variable annuity contract.
For this reason, IDS Life uses a technique that involves "units." IDS Life
measures the performance of the Fund by changes in the value of a single unit,
rather than the total value of the Fund. There are two kinds of units. As long
as you are paying into the Fund they are called "accumulation units." When you
begin to receive your annuity payments, they change to "annuity units."
<PAGE>
o Accumulation units are used to measure the value of deferred annuity
contracts during the period before IDS Life makes annuity payments to
you.
number of your value of one total
accumulation x accumulation = accumulation
units unit value
When you buy a deferred annuity contract, IDS Life will credit your purchase
payments as accumulation units to your contract.
o Annuity units determine the value of each annuity payment. When you buy
an immediate annuity contract, IDS Life will credit your purchase
payment as annuity units to your account.
Under a deferred annuity contract, when annuity payments begin, IDS Life will
convert your accumulation value into annuity units. From then on, your annuity
payments are based on the current annuity unit value.
number of your x annuity = value of one
annuity units unit value annuity payment
Dates we revalue units - Valuation date
IDS Life values your units at least once every seven days. At the present time,
IDS Life values your units each business day at the close of trading on the
NYSE. During an emergency, the Fund can suspend redemption. Those emergency
situations would occur if:
o The NYSE closes for reasons other than the usual weekend and holiday
closings, or trading on the NYSE is restricted;
o Disposal of the Fund's securities is not reasonable, or it is not
reasonably practical for the Fund to determine the fair value of its net
assets, or
o The Securities and Exchange Commission under the provisions of the
Investment Company Act of 1940 (1940 Act) declares a period of emergency to
exist.
Splitting units
IDS Life can split accumulation or annuity units. We will do so only if it is in
the best interests of the contract holders, the annuitants and IDS Life.
The valuation period
The valuation period starts after the close of business on one valuation date
(any normal business day, Monday through Friday, that the NYSE is open) and ends
with the close of business on the next valuation date.
<PAGE>
Valuing Fund assets
We determine the net value of the Fund's assets at the start of each valuation
period by taking the total value of the Fund's assets and subtracting
liabilities. The net asset value per share generally changes each day. We value
Fund's portfolio securities as follows:
o We value securities traded on national securities exchanges at the last
quoted sales price on that day. If a particular security hasn't been traded
on a certain day, we take the average price between the last bid (offer to
buy) and the last asked (offer to sell) price.
o We also value securities with readily available market quotations but
without a listing on an exchange at the average between the last bid
and the last asked price.
o We value short-term securities maturing more than 60 days from the
valuation date at the market price or approximate market value based on
current interest rates. We value short-term securities maturing in 60 days
or less but that originally had maturities of more than 60 days at the
acquisition date on an amortized cost basis using the market value on the
61st day before maturity. We value short-term securities maturing in 60
days or less at the acquisition date at amortized cost. Amortized cost is
an approximation of market value determined by systematically increasing
the carrying value of a security if acquired at a discount, or
systematically reducing the carrying value if acquired at a premium, so
that the carrying value is equal to maturity value on the maturity date.
o We value securities and other assets without a ready market price at fair
value. The Board of Managers is responsible for using valuation methods
that they believe give fair value. In cases like this, they may use an
outside organization to value these securities. These organizations may use
methods that take into consideration yields, trading characteristics and
other market data.
When we credit your purchase payments
IDS Life credits each purchase payment at the end of the valuation period during
which we receive it at our corporate office.
The investment factor
On each valuation date, IDS Life calculates an investment factor for the
valuation period. This factor measures the Fund's investment performance during
the period. Here is how the investment factor is determined:
o First, we determine the investment income for the period by combining the
Fund's income (interest and any dividends), net realized and unrealized
capital gains or losses on investments and expenses.
o Then, we determine the net investment rate by dividing the Fund's net
investment income by the net value of the Fund's assets at the beginning of
the valuation period.
<PAGE>
o Finally, the investment factor for any valuation period is the sum of 1
plus the net investment rate. If the Fund has a negative investment rate
for a period, the investment factor will be less than 1.
Valuing an accumulation unit
IDS Life uses accumulation units to measure the value of your contract during
the period before annuity payments begin. We determine the value of an
accumulation unit by multiplying the accumulation unit value for the last
valuation period by the investment factor for the current period.
Here is an example: Assume the Fund's assets at the start of the day were $1
million and the investment income for the day was $2,000. The total expenses
were $398.35 and the value of an accumulation unit the day before was $1.101000.
o Step 1. First, we determine the net investment income. This is income minus
expenses or $1,601.65 ($2,000 - $398.35).
o Step 2. Next we determine the investment rate. This is the net investment
income divided by the assets at the start of the day or 0.001602 ($1,601.65
divided by 1,000,000).
o Step 3. The investment factor is one plus the investment rate, or 1.001602.
o Step 4. Finally, we determine the value of an accumulation unit by
multiplying yesterday's accumulation unit value by the investment factor.
The current value of an accumulation unit comes out to $1.102764 (1.101000
x 1.001602).
Valuing an annuity unit
When you are ready to receive annuity payments, IDS Life exchanges your
accumulation units for annuity units. Annuity units measure each variable
annuity payment. To determine the value of an annuity unit, we multiply the
annuity unit value on the last valuation date by the product of (1) the
investment factor for the current period, and (2) the neutralizing factor.
The neutralizing factor removes the assumed investment rate that is built into
the variable annuity tables in your contract. The neutralizing factor for a
one-day valuation period is 0.999866, when the usual 5% assumed investment rate
is used.
Here is a shortcut for calculating the value of an annuity unit:
o Substitute the term "annuity unit" for the term "accumulation unit" each
time it appears in the example used for calculating accumulation unit
values.
o Then take the answer in Step 4 ($1.102764) and multiply it by the
neutralizing factor (0.999866). The answer is the current value of an
annuity unit, or $1.102616.
The assumed investment rate is not always 5%. For example, contracts subject to
Texas law cannot use more than a 3.5% investment rate. You can request a 3.5%
investment rate
<PAGE>
by sending a written request to IDS Life at its home office. The current policy
of IDS Life is to grant a request received no later than 30 days before
settlement.
Why would you want a lower assumed investment rate? The value of an annuity unit
will rise or fall to the extent that the actual investment rate for the period
is more or less than the assumed investment rate. A lower assumed rate produces
a lower initial annuity payment, but later payments will rise faster if unit
values are going up. Later payments will fall more slowly if unit values are
dropping.
Annuity payment starting date
For individual deferred contracts paid for in annual installments, the annuity
payment starting date you select must be at least 10 years after the date of
your application. You can change the payment date at any time not less than 30
days before annuity payments are to start.
For single payment deferred contracts, the annuity payment starting date must be
at least 60 days after the application date.
For immediate contracts, the annuity payment starting date must be no later than
60 days after the application date.
For employer plans, the annuity starting date must be at least so many years
after the application date that the number of years multiplied by the annual
purchase payment equals or exceeds $3,000.
For all contracts the annuity payment starting date must come before (whichever
one is later):
o the contract anniversary nearest the annuitant's 75th birthday, or
o the 30th contract anniversary.
Table of settlement rates
IDS Life bases settlement rates on the Progressive Annuity Table assuming all
births in 1900. To determine the rate applicable at settlement, we look at the
annuitant's birthday nearest the settlement date and subtract an adjustment
according to the following chart.
Calendar year of Adjustment for
annuitant's birth Male Female
- ------------------------------------------------------
Prior to 1920........................... 0 4
1920 through 1939....................... 1 5
1940 through 1954....................... 2 6
1955 through 1969....................... 3 7
After 1969.............................. 4 8
- ------------------------------------------------------
<PAGE>
In Arizona Governing Committee for Tax Deferred Annuity and Deferred
Compensation Plans, etc. et al. v. Nathalie Norris, etc., the United States
Supreme Court decided that Title VII of the Civil Rights Act of 1964 prohibits
an employer from offering its employees the option of receiving retirement
benefits from one of several companies selected by the employer, all of which
pay a woman lower monthly retirement benefits than a similarly situated man. The
Court ordered that all retirement benefits derived from contributions made on
and after Aug. 1, 1983, must be calculated without regard to the sex of the
annuitant.
IDS Life has been administering contributions received since Aug. 1, 1983, on
the company's in-force annuity contracts to provide retirement benefits without
regard to the sex of the annuitant in those markets which are affected by the
Norris decision. IDS Life also has amended new contracts in order to assure
continued compliance by employers with the obligations imposed on them by the
Norris decision.
Annuity payment plans
You may select on the application how you want annuity payments made and when
the payments are to begin. If you have a deferred annuity contract, you may
change your payment plan at any time at least 30 days before the annuity payment
starting date.
Here are the plans available for all annuity contracts as described in this
prospectus:
Plan A - Life annuity - no refund: We make monthly payouts until the annuitant's
death. Payouts end with the last payout before the annuitant's death; we will
not make any further payouts. This means that if the annuitant dies after we
have made only one monthly payout, we will not make any more payouts.
Plan B - Life annuity with five, 10 or 15 years certain: We make monthly payouts
for a guaranteed payout period of five, 10 or 15 years that you elect. This
election will determine the length of the payout period to the beneficiary if
the annuitant should die before the elected period has expired. We calculate the
guaranteed payout period from the retirement date. If the annuitant outlives the
elected guaranteed payout period, we will continue to make payouts until the
annuitant's death.
Plan C - Life annuity - installment refund: We make monthly payouts until the
annuitant's death, with our guarantee that payouts will continue for some period
of time. We will make payouts for at least the number of months determined by
dividing the amount applied under this option by the first monthly payout,
whether or not the annuitant is living.
Plan D - Joint and last survivor life annuity - no refund: We make monthly
payouts while both the annuitant and a joint annuitant are living. If either
annuitant dies, we will continue to make monthly payouts at the full amount
until the death of the surviving annuitant.
Payouts end with the death of the second annuitant
A beneficiary of a variable annuity contract may ask for a lump-sum payment
under Plan B or Plan C. IDS Life will not grant the request if you asked us not
to.
If you have not selected a plan by the annuity payment starting date, Plan B
with 120 guaranteed monthly payments will be used.
<PAGE>
If the value of the contract is less than $2,000 on the annuity payment starting
date, IDS Life may pay the accumulation value in a lump-sum.
Determination of monthly annuity payments for deferred contracts
When annuity payments are to begin, IDS Life computes the first monthly variable
annuity payment on the valuation date on or right before the seventh day before
the annuity payment starting date.
IDS Life makes the computations using the table of settlement rates in your
contract unless we agree on an optional table. IDS Life uses a different table
if you elected a 3.5% assumed investment rate. We divide the amount of the first
payment by the annuity unit value to give the number of annuity units for your
contract.
IDS Life will determine each monthly payment after the first one by multiplying
the number of annuity units by the current annuity unit value. IDS Life will
compute payouts made by check on the valuation date on or right before the fifth
day before the annuity payment date. IDS Life will compute payouts made by a
transfer to another IDS fund account on the valuation date on or right before
the annuity payment date.
Here is an example: Assume the variable accumulation value on the valuation date
seven days before the annuity payment starting date was $30,000 and the plan you
selected produces an initial payment of $6 for each $1,000 of accumulation
value. Ignoring premium taxes, if any, the first payment would be $180 (30 x $6
= $180).
Now assume the annuity unit value on the valuation date seven days before the
annuity payment starting date is $1.800000. The number of annuity units for your
contract is 100 ($180 divided by $1.800000 = 100). Ordinarily, IDS Life will pay
the value of the same number of annuity units each month.
Determination of monthly annuity payments for immediate contracts
IDS Life multiplies the number of your annuity units by the value of one unit.
IDS Life determines the value of one unit on the valuation date on or right
before the seventh day before the annuity payment is due. The following example
shows how we determine the number of your annuity units:
Assume the net purchase payment is $30,000 and the conversion factor, based on
actuarial tables and the contract you selected, is $5.50.
Assume the value of one annuity unit on the valuation date is $1.500000.
First divide the net purchase payments by $1,000: $30,000 divided by $1,000 =
$30. Next, multiply the answer by the conversion factor: $30 x $5.50 = $165.
Divide the answer by the value of one unit. This gives the number of annuity
units paid out each month: $165 divided by $1.500000 = 110 units.
<PAGE>
The charges you pay
1) Sales and administrative charges
The tables below show the deductions from your purchase payments for sales and
administrative charges. The net amount invested is the total purchase payments
minus the deduction for sales and administrative charges.
<TABLE>
<CAPTION>
Single payment contracts
<S> <C> <C> <C> <C>
- ---------------------------- -------------------- --------------------- -------------------- --------------------
Total charge Total deduction
Part of the Deduction Deduction for as percentage of as percentage of
total purchase for sales administrative total purchase net amount
payment charge charge payment invested
- ---------------------------- -------------------- --------------------- -------------------- --------------------
First $15,000 6.0% 2.0% 8.0% 8.70%
Next $10,000 4.0 1.0 5.0 5.26
Over $25,000 1.5 0.5 2.0 2.04
- ---------------------------- -------------------- --------------------- -------------------- --------------------
Installment payment contracts (other than employer plan contracts)
- ---------------------------- -------------------- --------------------- -------------------- --------------------
Total charge Total deduction
Deduction Deduction for as percentage of as percentage of
for sales administrative total purchase net amount
Contract year charge charge payment invested
- ---------------------------- -------------------- --------------------- -------------------- --------------------
1st 18.0% 2.0% 20.0% 25.00%
2nd & 3rd 16.0 2.0 18.0 21.95
4th 5.0 2.0 7.0 7.53
5th and after 2.0 2.0 4.0 4.17
If kept through 10 years 6.7 2.0 8.7 9.53
- ---------------------------- -------------------- --------------------- -------------------- --------------------
Employer plan -- annual purchase contracts
- ---------------------------- -------------------- --------------------- -------------------- --------------------
Part of Total charge Total deduction
the total Deduction Deduction for as percentage of as percentage of
purchase for sales administrative total purchase net amount
payment charge charge payment invested
- ---------------------------- -------------------- --------------------- -------------------- --------------------
First $10,000 3.75% 2.0% 5.75% 6.10%
Next $40,000 2.0 2.0 4.0 4.17
Excess over $50,000 0.5 1.5 2.0 2.04
- ---------------------------- -------------------- --------------------- -------------------- --------------------
</TABLE>
Under a Distribution and Services Agreement with the Fund, IDS Life is the
principal underwriter and performs all sales and administrative duties. It pays
salaries, sales commissions, legal, accounting, auditing or actuarial fees and
death benefits under deferred variable annuity contracts. The deductions for
sales and administrative charges came to $___ for 1998, $80,608 for 1997 and
$83,478 for 1996.
IDS Life may reduce or eliminate the sales and administrative charge, but only
to the extent IDS Life anticipates that we will incur lower sales and
administrative expenses or perform fewer services. Generally, this will occur
with programs established by an employer for all employees or for all employees
in a class, under which employees do not individually enroll in the program.
2) Premium taxes
Some states may charge a premium tax in an amount of up to 3.5%. If a state
requires payment of a premium tax on your contract, IDS Life may deduct it from
your purchase payments or from your contract's accumulation value.
<PAGE>
3) Increases in life expectancy and administrative expenses
IDS Life will bear any expenses that occur because of an increase in
administrative expenses, or because of an increase in the life expectancy of
people receiving variable annuity payments. But, it is not responsible for
increases in brokers' fees and transfer taxes on the purchase and sale of
assets.
For bearing this risk, IDS Life charges the Fund a fee equal to 1% of the Fund's
average daily net assets for the year. This came to $___ for 1998, $3,661,128
for 1997 and $3,105,070 for 1996.
If the fee is more than enough to cover the increases, IDS Life will keep the
difference. If the fee is not enough, IDS Life bears the loss.
4) Charge for investment management
For acting as investment manager, IDS Life charges the Fund a fee equal to 0.4%
of the Fund's average net assets for the year, less any brokerage credits. This
came to $____ for 1998, $1,464,532 for 1997 and 1,242,190 for 1996.
5) Tax charges
IDS Life is taxed as a life insurance company under Subchapter L of the Code.
IDS Life treats the Fund as part of IDS Life for federal income tax purposes.
IDS Life must pay all taxes that come about because of the Fund. For this
reason, IDS Life can charge the Fund for tax charges. Under current federal
income tax law, no taxes are payable with respect to any income of the Fund.
Investment results credited to a contract are not taxed until you receive
annuity benefits.
Surrendering your contract
You can surrender all or part of your annuity contract any time before the
annuity payment starting date. You cannot surrender the contract in whole or in
part after annuity payments have started.
For a discussion of automated partial surrenders, see page __.
Make your request to IDS Life in writing. IDS Life will cash in the number of
accumulation units for the amount you request. The units are valued at the next
close of business after IDS Life receives your request in our Minneapolis home
office. You cannot surrender part of your contract if the remaining accumulation
value will be less than $20, and you cannot repay any amount you surrender. IDS
Life usually will mail a check to you within seven days after we process your
request. However, IDS Life can delay sending your check until we are sure we
have received good payment for the accumulation units you want to surrender.
You may receive extra money if the Fund's state premium tax liability is reduced
as a result of your surrender. If it is, you will receive either the amount of
the reduction or the amount already deducted from your purchase payments for
premium taxes, whichever is less.
<PAGE>
Your surrender may result in adverse tax consequences. Consult a qualified tax
advisor before requesting a surrender.
Making withdrawals on your contract
You can make a temporary withdrawal on your contract any time before the annuity
payment starting date. The least you can withdraw, including charges, is $250.
The most you can withdraw is the sum of your purchase payments less any amounts
you previously surrendered. You cannot have more than one temporary withdrawal
outstanding at any one time. IDS Life will charge you 2% of your withdrawal at
the time of withdrawal in order to cover our administrative costs.
You must pay your withdrawal back within two years. IDS Life will use your
repayment to buy accumulation units at their current price. However, you cannot
make a repayment after the annuity payment starting date. There are no sales
charges. If you do not pay your withdrawal back within two years, IDS Life will
regard it as if you surrendered that part of your contract.
How do you repay your withdrawal? Inform IDS Life in writing. Otherwise IDS Life
will use your regular purchase payments toward repayment. What is left after you
fully repay your withdrawal will go toward your regular purchase payments. Any
amount of your purchase payment left over after repayment must be at least $10.
o Example: You make a withdrawal of $295 and your next purchase payment is $300.
Instead of applying $295 toward the withdrawal and $5 toward the purchase
payment, we will apply $290 toward the withdrawal and $10 toward the purchase
payment. Now you owe $5 on your withdrawal. IDS Life will take out this amount
next time you make a payment.
Keep track of all your withdrawals and surrenders. If your accumulation value
falls to zero, IDS Life will close your account.
Special rules if the annuitant dies before the annuity payment starting date
Under a deferred annuity contract, if the annuitant dies before annuity payments
begin, the beneficiary will receive the greater of:
o the sum of all purchase payments minus surrenders and unrepaid withdrawals; or
o the accumulation value of the contract.
If the annuitant dies on or after the contract anniversary date nearest his or
her 75th birthday, IDS Life will pay only the accumulation value to the
beneficiary.
Your right to cancel installment contracts
You will receive a Statement of Charges and a Notice of Cancellation Rights
within 60 days after the contract is sent to you. You will have 45 days from the
time this notice was sent to you to cancel your installment contract. You will
receive the current accumulation value of your account plus any amounts deducted
for taxes and charges.
<PAGE>
What about your taxes?
Part of the annuity payment you receive is taxed as ordinary income and part is
excluded from income as your investment in the contract under Section 72 of the
Code.
The income earned on an annuity contract held by such entities as corporations,
partnerships or trusts generally will be treated as ordinary income received
during that year. This provision is effective for annuity contract purchase
payments made after Feb. 28, 1986.
If you surrender all or part of the contract before your annuity payment
starting date, the federal income tax consequences will depend on when you made
your purchase payments. For amounts allocable to purchase payments made after
Aug. 13, 1982, the amount of any partial surrender will be taxed as ordinary
income to the extent that contract value exceeds the owner's investment in the
contract. In addition, a 10% penalty tax will be imposed on the amount of any
surrender proceeds that is includable in the owner's income. However, the
penalty tax would not affect any surrender occurring after:
o the owner reaches age 59-1/2,
o death of the owner (or the death of the primary annuitant if the owner is
not an individual),
o the owner's disability; or
o if the distribution is part of a series of substantially equal periodic
payments over the life or life expectancy of the owner (or joint lives or
life expectancy of the owner and beneficiary).
Any amount you receive as a withdrawal and the value of any part of an annuity
contract pledged or assigned as collateral is taxed as a cash withdrawal to the
extent allocable to investment in annuity contracts after Aug. 13, 1982.
Amounts allocable to earlier purchase payments will be taxed as ordinary income
to the extent the amount surrendered exceeds the owner's investment in the
contract and will not be subject to the 10% penalty tax.
Unlike life insurance proceeds, the death benefit under an annuity contract is
not tax exempt. The gain, if any, is taxable as ordinary income to the
beneficiary in the year(s) he or she receives the payments.
IDS Life intends that the contract qualify as an annuity for federal income tax
purposes. To that end, the provisions of the contract are to be interpreted to
ensure or maintain tax qualification, in spite of any other provisions of the
contract. IDS Life reserves the right to amend the contract to reflect any
clarifications that may be needed or are appropriate to maintain qualification
or to conform the contract to any applicable changes in the tax qualification
requirements. We will send you a copy of any amendment.
Important: IDS Life bases this discussion of federal tax laws upon our
understanding of these laws as they are currently interpreted. Federal tax laws
or current interpretations of them may change. For this reason and because tax
consequences are complex and highly individual and cannot always be anticipated,
you should consult a tax advisor if you have any questions about taxation of
your contract.
<PAGE>
Voting rights
The Fund grants and defines voting rights of contract holders under its
regulations. To the extent permitted under the 1940 Act, IDS Life may modify
these voting rights without a vote of a majority of the outstanding voting
units. Variable contract holders can vote on:
o any changes in fundamental investment restrictions;
o the approval of and any changes to the investment management and
advisory agreements;
o the election of the Board of Managers; and
o the acceptance of the Fund's independent auditors.
A variable contract holder with accumulation units has a number of votes equal
to the number of accumulation units owned. Under a contract where annuity
payments have started, IDS Life determines the number of votes by dividing the
present value of all future annuity payments by the value of one accumulation
unit on the record date. So, there may be a gradual decline in the number of
votes to which a contract holder is entitled as we continue to make annuity
payments under the contract. The record date will be set by the Board of
Managers not more than 60 days before the regular meeting or any special meeting
of variable contract holders. Cumulative voting is not authorized.
Management
Members of the Board of Managers and officers of the Fund
Richard W. Kling*
Chairman of the Board of Managers and President
IDS Tower 10
Minneapolis, MN
Director of IDS Life Insurance Company since February 1984; President since
March 1994. Executive Vice President, Marketing and Products from January 1988
to March 1994. Senior Vice President, American Express Financial Corporation,
since 1994. Director of IDS Life Series Fund, Inc.
Edward Landes
Member of the Board of Managers
30 South 9th Street
Minneapolis, MN
Development consultant. Director of Endowment Development, YMCA of Metropolitan
Minneapolis since 1996. Vice President for Financial Development, YMCA of
Metropolitan Minneapolis from 1985 to 1995. Former sales manager - Supplies
Division and district manager - Data Processing Division of IBM Corporation.
Retired 1983.
<PAGE>
Carl N. Platou
Member of the Board of Managers
312 South 6th Street
Minneapolis, MN
President Emeritus and Chief Executive Officer, Fairview Hospital and Healthcare
Services. Director, St. Thomas University since 1990.
Gordon H. Ritz
Member of the Board of Managers
404 WCCO Radio Building
Minneapolis, MN
Director, Mid-America Publishing and Atrix International, Inc. Former president,
Com Rad Broadcasting Corp. Former director, Sunstar Foods.
Lorraine R. Hart*
Vice President, Investments
IDS Tower 10
Minneapolis, MN
Vice President - Insurance investments of American Express Financial Corporation
since 1989. Vice President - Investments of IDS Life since 1992.
Jeffrey S. Horton*
Vice President and Treasurer
IDS Tower 10
Minneapolis, MN
Vice President and Controller since July 1996.
Timothy S. Meehan*
Secretary
IDS Tower 10
Minneapolis, MN
Secretary of American Express Financial Corporation, American Express Financial
Advisors Inc. and IDS Life Series Fund, Inc. since October 1995. Senior counsel
to American Express Financial Corporation since 1995. Counsel from 1990 to 1995.
William A. Stoltzmann*
General Counsel and Assistant Secretary
IDS Tower
Minneapolis, MN
Vice President and Assistant General Counsel, American Express Financial
Corporation, since November 1985 and Vice President, General Counsel and
Secretary, IDS Life, since December 1989.
*Interested person of the Fund by reason of being an employee of IDS Life or
American Express Financial Corporation.
<PAGE>
You vote at each regular meeting for the Fund's Board of Managers. Members who
are not salaried employees of IDS Life or one of its affiliates receive up to
$4,000 annually for serving on the Board. All officers of the Fund are salaried
employees of IDS Life or AEFC and do not receive remuneration from the Fund. The
officers and managers of the Fund aggregately hold less than 1% of the
outstanding voting units.
Directors and officers of IDS Life Insurance Company*
The Directors:
David R. Hubers
Director since September 1989; President and Chief Executive Officer, American
Express Financial Corporation, since August 1993 and Director, American Express
Financial Corporation, since January 1984. Senior Vice President, Finance, and
Chief Financial Officer, American Express Financial Corporation, from January
1984 to August 1993.
Richard W. Kling
Director since February 1984; President since March 1994; Executive Vice
President, Marketing and Products from January 1988 to March 1994. Senior Vice
President, American Express Financial Corporation, since May 1994, Vice
President from 1988 to 1994. Director of IDS Life Series Fund, Inc. and Chairman
of the Board of Managers and President of IDS Life Variable Annuity Funds A & B.
Paul F. Kolkman
Director since May 1984; Executive Vice President since March 1994; Vice
President, Finance from May 1984 to March 1994; Vice President, American Express
Financial Corporation, since January 1987. Vice President and Chief Actuary of
IDS Life Series Fund, Inc.
James A. Mitchell
Chairman of the Board since March 1994; Director since July 1984; Chief
Executive Officer since November 1986; President from July 1984 to March 1994;
Executive Vice President, American Express Financial Corporation, since March
1994; Director, American Express Financial Corporation, since July 1984. Senior
Vice President, American Express Financial Corporation, from July 1984 to March
1994.
Barry J. Murphy
Director and Executive Vice President, Client Service since March 1994; Senior
Vice President, American Express Financial Corporation since May 1994. Senior
Vice President, Operations, Travel Related Services (TRS), a subsidiary of
American Express Company, from July 1992 to April 1994; Vice President, TRS,
from November 1989 to July 1992.
Stuart A. Sedlacek
Director since March 1994; Vice President, American Express Financial
Corporation, since September 1988.
<PAGE>
Officers Other Than Directors
Jeffrey S. Horton
Vice president and treasurer since December 1997; vice president and corporate
treasurer, AEFC, since December 1997; controller, American Express Technologies
- - Financial Services, AEFC, from July 1997 to December 1997; controller, Risk
Management Products, AEFC, from May 1994 to July 1997; director of finance and
analysis, Corporate Treasury, AEFC, from June 1990 to May 1994.
William A. Stoltzmann
Vice President, General Counsel and Secretary since 1989; Vice President and
Assistant General Counsel, American Express Financial Corporation, since
November 1985. Vice President, General Counsel and Secretary, American
Enterprise Life Insurance Company, American Partners Life Insurance Company.
*The address for all of the directors and principal officers is: IDS Tower 10,
Minneapolis, MN 55440-0010.
Other Information
History
The Fund is an open-end diversified investment company as defined under the 1940
Act. It was organized as a segregated asset account by IDS Life under Minnesota
law on May 10, 1968.
IDS Life is a stock life insurance company organized under Minnesota law on Aug.
7, 1957. It conducts a conventional life insurance business in addition to its
variable annuity business.
Assets of the Fund
On Dec. 31, 1998, there were _____ outstanding contracts. The assets were
$_________.
The Fund holds these assets solely for the variable contract holders. The assets
are not used to pay liabilities of any other business of IDS Life.
Headquarters
The corporate office of IDS Life is located in the IDS Tower in Minneapolis,
Minnesota.
Ownership of IDS Life and American Express Financial Corporation
All of the capital stock of IDS Life is owned by AEFC. On Jan. 12, 1984,
Investors Diversified Services, Inc., of which IDS Life was a wholly owned
subsidiary, was merged into a wholly owned subsidiary of American Express
Company to form IDS Financial Services Inc. On Jan. 1, 1995, IDS Financial
Corporation's name was changed to American Express Financial Corporation, and
IDS Financial Services Inc.'s name was
<PAGE>
changed to American Express Financial Advisors Inc. AEFC serves as investment
advisor for the Fund. AEFC is an investment advisor for a number of open-end
investment companies and for its subsidiaries. AEFC's headquarters is IDS Tower,
Minneapolis, Minnesota.
Other affiliations
IDS Life also distributes different variable annuity contracts not described in
this prospectus and variable life insurance policies.
The members of the Fund's Board of Managers also serve on the Board of Managers
of Fund B and on the Board of Directors of IDS Life Series Fund, Inc.
IDS Life manages Fund A, Fund B and nine mutual funds existing within the IDS
MUTUAL FUND GROUP advised by American Express Financial Corporation. These nine
mutual funds are available for purchase only through variable annuity contracts
which are distributed by IDS Life and its subsidiaries, IDS Life Insurance
Company of New York, American Enterprise Life Insurance Company, American
Partners Life Insurance Company and American Centurion Life Assurance Company.
The names of these funds are: IDS Life Capital Resource Fund, IDS Life
Aggressive Growth Fund, IDS Life International Equity Fund, IDS Life Special
Income Fund, IDS Life Managed Fund, IDS Life Moneyshare Fund, IDS Life Growth
Dimensions Fund, IDS Life Global Yield Fund and IDS Life Income Advantage Fund.
IDS Life also manages IDS Life Series Fund, Inc., which is available for
purchase only through policies distributed by IDS Life and IDS Life Insurance
Company of New York.
Custodian
Pursuant to a custodian agreement, the Fund's securities and cash are held by
American Express Trust Company, 1200 Northstar Center West, 625 Marquette Ave.,
Minneapolis, MN 55402-2307.
The custodian has entered into a sub-custodian arrangement with Morgan Stanley
Trust Company, One Pierrepont Plaza, Brooklyn, NY 11201. As part of this
arrangement, portfolio securities purchased outside the United States may be
held in custody and deposit accounts that have been established by Morgan
Stanley with one or more domestic or foreign banks, or through the facilities of
one or more clearing agencies or central securities depositories as may be
permitted by law and by the Fund's sub-custodian agreement.
Insurance regulation
IDS Life is regulated by the Department of Commerce of the State of Minnesota.
From time to time, the department examines the company's liabilities and
reserves and certifies their correctness. IDS Life also is subject to insurance
laws and regulations of other states where it is licensed to do business.
<PAGE>
Financial statements
The Report of Independent Auditors and the Financial Statements, including Notes
to Financial Statements and the schedule of investments in securities, contained
in the 1998 Annual Report to IDS Life Variable Annuity Fund A contract holders
are incorporated in this Prospectus by reference. No other portion of the Annual
Report, however, is incorporated by reference.
Year 2000
The Year 2000 issue is the result of computer programs having been written using
two digits rather than four to define a year. Any programs that have
time-sensitive software may recognize a date using "00" as the year 1900 rather
than 2000. This could result in the failure of major systems or miscalculations,
which could have a material impact on the operations of the Fund. The Fund has
no computer systems of its own but is dependent upon the systems maintained by
AEFC and certain other third parties.
A comprehensive review of AEFC's computer systems and business processes has
been conducted to identify the major systems that could be affected by the Year
2000 issue. Steps are being taken to resolve any potential problems including
modification to existing software and the purchase of new software. These
measures are scheduled to be completed and tested on a timely basis. AEFC's goal
is to complete internal remediation and testing of each system by the end of
1998 and to continue compliance efforts through 1999.
The Year 2000 readiness of other third parties whose system failures could have
an impact on the Fund's operations is currently being evaluated. The potential
materiality of any such impact is not known at this time
Legal proceedings
A number of lawsuits have been filed against life and health insurers in
jurisdictions in which IDS Life and AEFC do business involving insurers' sales
practices, alleged agent misconduct, failure to properly supervise agents and
other matters. IDS Life and AEFC, like other life and health insurers, from time
to time are involved in such litigation. In December 1996, an action of this
type was brought against IDS Life and its parent, AEFC. A second action was
filed in March, 1997. The plaintiffs purport to represent a class consisting of
all persons who replace existing IDS Life policies with new IDS Life policies
from and after January 1, 1985. The complaint puts at issue various alleged
sales practices and misrepresentations, alleged breaches of fiduciary duties and
alleged violations of consumer fraud statutes. Plaintiffs seek damages in an
unspecified amount and also seek to establish a claims resolution facility for
the determination of individual issues.
On October 13, 1998, an action entitled Richard W. and Elizabeth J. Thoresen vs.
American Express Financial Corporation, American Centurion Life Assurance
Company, American Enterprise Life Insurance Company, American Partners Life
Insurance Company, IDS Life Insurance Company and IDS Life Insurance Company of
New York was commenced in Minnesota State Court. The action was brought by
individuals who
<PAGE>
purchased an annuity in a qualified plan. They allege that the sale of annuities
in tax-deferred contributory retirement investment plans (e.g., IRAs) is never
appropriate. The plaintiffs purport to represent a class consisting of all
persons who make similar purchases. The plaintiffs seek damages in an
unspecified amount.
IDS Life believes it has meritorious defenses to these and other actions arising
in connection with the conduct of its business activities and intends to defend
them vigorously. IDS Life is a defendant in various other lawsuits, none of
which, in IDS Life's opinion, will result in a material liability.
<PAGE>
PART II. OTHER INFORMATION
Item 1. FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial Statements
List of financial statements filed as part of this Post-Effective
Amendment to the Registration Statement.
None
(b) Exhibits
1. Resolution of the Executive Committee of the Board of Directors of
Investors Syndicate Life Insurance and Annuity Company dated May 10,
1968, filed as Exhibit 1 to Registrant's Registration Statement No.
2-29081 filed on May 16, 1968, and refiled electronically April 27,
1994 as Exhibit 1 with Post-effective Amendment No. 56, is incorporated
by reference.
2. Regulations of IDS Life Variable Annuity Fund A as Amended and
Restated, dated June 22, 1979, filed as Exhibit 2 to Registrant's
Post-Effective Amendment No. 32 to Registration Statement No. 2-29081
filed on December 10, 1979, and refiled electronically on or about
April 11, 1995 are incorporated by reference.
3. Not applicable.
4. Contracts filed as Exhibit 4 to Registrant's Post-Effective Amendment
No. 32 to Registration Statement No. 2-29081 filed on December 10,
1979, are incorporated by reference.
5.(a) Investment Advisory Agreement between IDS Life Insurance Company and
IDS/American Express dated January 12, 1984, filed as Exhibit 5(a) to
Registrant's Post-Effective Amendment No. 44, and refiled
electronically April 27, 1994 as Exhibit 5(a) with Post-Effective
Amendment No. 56, is incorporated by reference.
5.(b) Investment Management and Advisory Agreements between IDS Life
Insurance Company and IDS Life Variable Annuity Fund A dated January
12, 1984, filed as Exhibit 5(b) to Registrant's Post-Effective
Amendment No. 44, and refiled electronically April 27, 1994 as Exhibit
5(b) with Post-Effective Amendment No. 56, are incorporated by
reference.
6. Distribution and Services Agreement between Registrant and IDS Life
Insurance Company, dated January 12, 1984, filed as Exhibit 6 to
Registrant's Post-Effective Amendment No. 44, and refiled
electronically April 27, 1994 as Exhibit 6 with Post-Effective
Amendment No. 56, is incorporated by reference.
7. None.
8.(a) Custodian Agreement between Registrant, IDS Life Insurance Company, and
American Express Bank & Trust, dated July 12, 1990, filed as Exhibit
8(a) to Registrant's Post-Effective Amendment No. 53 to this
Registration Statement, filed April 15, 1991, and refiled
electronically April 27, 1994 as Exhibit 8(a) with Post-Effective
Amendment No. 56, is incorporated by reference.
<PAGE>
8.(b) Custody Agreement between Morgan Stanley Trust Company and IDS Bank &
Trust dated May, 1993 filed electronically on or about April 11, 1995
as Exhibit No. 8(b) to Post-Effective Amendment No. 58 is incorporated
by reference.
9. Not applicable.
10. Opinion of counsel and consent to its use as to the legality of the
securities registered to be filed by amendment.
11. Consent of Independent Auditors to be filed by amendment.
12. Financial statement schedules omitted from Item 18 of Part I: None
13. through 15. not applicable.
16. Financial Data Schedules to be filed by amendment.
17.(a) IDS Life Insurance Company Power of Attorney dated August 19, 1997, is
incorporated by reference to Exhibit 17(a) to Post-Effective Amendment
No. 61 filed on or about May 1, 1998.
17.(b) IDS Life Variable Annuity Fund A Board of Managers Power of Attorney to
sign Amendments to this Registration Statement dated March 25, 1997,
filed electronically as Exhibit 17(b) to Registrant's Post-Effective
Amendment No. 60 is incorporated by reference.
17.(c) IDS Life Insurance Company Power of Attorney dated April 9, 1998 is
incorporated by reference to Exhibit 17(c) to Post-Effective Amendment
No. 61 filed on or about May 1, 1998.
Item 2. PERSONS CONTROLLED BY OR UNDER COMMON CONTROL WITH REGISTRANT
Both the Registrant and IDS Life Variable Annuity Fund B are separate
accounts of IDS Life. Consequently, the securities and funds of the Registrant
and Fund B are technically those of IDS Life, even though the securities and
funds of the two Funds are maintained as separate accounts under Minnesota Law
pursuant to a safekeeping agreement with American Express Bank & Trust. As
separate Accounts, Minnesota Law provides that the assets of the Funds are not
chargeable with liabilities arising out of any other business of IDS Life and
are held for the exclusive benefit of owners of variable annuity contracts based
on the Funds.
Item 3. NUMBER OF HOLDERS OF SECURITIES
Number of Record Holders
Title of Class as of Feb. 28, 1998
Variable Annuities 10,445
<PAGE>
Item 4. INDEMNIFICATION
The Regulations of the Registrant provide that each member of the Board
of Managers and each Officer of the Fund shall be indemnified by IDS Life, of
which the Fund is a separate account, for reasonable costs and expenses actually
and necessarily incurred in defense of any action, suit or proceedings where the
defendant is a party by reason of being a Manager or Officer. No indemnification
will be forthcoming in the event of an adjudication of willful misfeasance, bad
faith, gross negligence or reckless disregard by the Officer or Manager of the
duties of his office. In the absence of an adjudication expressly absolving the
Office or Manager of the afore-detailed wrongful conduct, indemnification may
still be advanced should 2/3 of the members of the Board of Directors of IDS
Life who were not involved in the processing resolve there was no instance of
such wrongful conduct. In the instance of such a resolution, the indemnification
claim still must be found to be reasonable in amount and proper in presentation
by independent counsel of IDS Life. Should any proceeding be settled,
indemnification shall not exceed the costs, fees and expenses which would have
been incurred had the proceeding been litigated. The payment of indemnification
by IDS Life will not prevent a variable contract holder from challenging the
payment by appropriate legal action on the basis that the payment was improper
because of willful misfeasance, bad faith, gross negligence or reckless
disregard by an Officer or Manager of his duties.
The By-Laws of the Registrant's investment management underwriter, IDS
Life, also contains an indemnification clause. The clause provides that IDS Life
shall indemnify any person who was or is a party or is threatened to be made a
party, by reason of the fact that he is or was a Manager of Variable Annuity
Funds A and B, director, officer, employee or agent of IDS Life, or is or was
serving at the direction of IDS Life as a Manager of Variable Annuity Funds A
and B, Director, Officer, employee or agent of another corporation, partnership,
joint venture, trust or other enterprise, to any threatened, pending or
completed action, suit or proceeding, wherever brought, to the fullest extent
permitted by the laws of the State of Minnesota, as now existing or hereafter
amended, provided that this Article shall not indemnify or protect any such
Manager of Variable Annuity Funds A and B, Director, Officer, employee or agent
against any liability to IDS Life or its security holders to which he would
otherwise be subject by reason of willful misfeasance, bad faith, or gross
negligence, in the performance of his duties or by reason of his reckless
disregard of his obligations and duties.
At the time of the filing of the Registration Statement of the Registrant, IDS
Life included the following undertaking with regard to the foregoing
indemnification procedures:
"Insofar as indemnification for liabilities arising under the
Securities Act of 1933 may be permitted to directors, officers and
controlling persons of the registrant pursuant to the foregoing
provision, or otherwise ISL [sic ____. IDS Life] 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 of ISL
[sic ____. IDS Life] of expenses incurred or paid
<PAGE>
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, ISL [sic ____. IDS Life] 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
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 5. Business and Other Connections of Investment Adviser (American Express
Financial Corporation)
Directors and officers of American Express Financial Corporation who are
directors and/or officers of one or more other companies:
<TABLE>
<CAPTION>
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
<S> <C> <C> <C>
Name and Title Other company(s) Address Title within other
company(s)
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Ronald G. Abrahamson, American Express Client IDS Tower 10 Director and Vice President
Vice President Service Corporation Minneapolis, MN 55440
American Express Financial Vice President
Advisors Inc.
Public Employee Payment Director and Vice President
Company
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Douglas A. Alger, American Express Financial IDS Tower 10 Senior Vice President
Senior Vice President Advisors Inc. Minneapolis, MN 55440
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Peter J. Anderson, Advisory Capital IDS Tower 10 Director
Director and Senior Vice Strategies Group Inc. Minneapolis, MN 55440
President
American Express Asset Director and Chairman of
Management Group Inc. the Board
American Express Asset Director, Chairman of the
Management International, Board and Executive Vice
Inc. President
American Express Financial Senior Vice President
Advisors Inc.
IDS Capital Holdings Inc. Director and President
IDS Futures Corporation Director
NCM Capital Management 2 Mutual Plaza Director
Group, Inc. 501 Willard Street
Durham, NC 27701
<PAGE>
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Ward D. Armstrong, American Express Financial IDS Tower 10 Vice President
Vice President Advisors Inc. Minneapolis, MN 55440
American Express Service Vice President
Corporation
American Express Trust Director and Chairman of
Company the Board
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
John M. Baker, American Express Financial IDS Tower 10 Vice President
Vice President Advisors Inc. Minneapolis, MN 55440
American Express Trust Senior Vice President
Company
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Joseph M. Barsky III, American Express Financial IDS Tower 10 Vice President
Vice President Advisors Inc. Minneapolis, MN 55440
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Timothy V. Bechtold, American Centurion Life IDS Tower 10 Director and President
Vice President Assurance Company Minneapolis, MN 55440
American Express Financial Vice President
Advisors Inc.
IDS Life Insurance Company Executive Vice President
IDS Life Insurance Company P.O. Box 5144 Director and President
of New York Albany, NY 12205
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
John C. Boeder, American Express Financial IDS Tower 10 Vice President
Vice President Advisors Inc. Minneapolis, MN 55440
IDS Life Insurance Company P.O. Box 5144 Director
of New York Albany, NY 12205
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Douglas W. Brewers, American Express Financial IDS Tower 10 Vice President
Vice President Advisors Inc. Minneapolis, MN 55440
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Karl J. Breyer, American Express Financial IDS Tower 10 Senior Vice President
Director, Corporate Senior Advisors Inc. Minneapolis, MN 55440
Vice President
American Express Financial Director
Advisors Japan Inc.
American Express Minnesota Director
Foundation
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Cynthia M. Carlson, American Enterprise IDS Tower 10 Director, President and
Vice President Investment Services Inc. Minneapolis, MN 55440 Chief Executive Officer
American Express Financial Vice President
Advisors Inc.
American Express Service Vice President
Corporation
<PAGE>
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Mark W. Carter, American Express Financial IDS Tower 10 Senior Vice President and
Senior Vice President and Advisors Inc. Minneapolis, MN 55440 Chief Marketing Officer
Chief Marketing Officer
IDS Life Insurance Company Executive Vice President
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
James E. Choat, American Centurion Life IDS Tower 10 Executive Vice President
Director and Senior Vice Assurance Company Minneapolis, MN 55440
President
American Enterprise Life Director, President and
Insurance Company Chief Executive Officer
American Express Financial Senior Vice President
Advisors Inc.
American Express Insurance Vice President
Agency of Idaho Inc.
American Express Insurance Vice President
Agency of Nevada Inc.
American Express Insurance Vice President
Agency of Oregon Inc.
American Express Property Vice President
Casualty Insurance Agency
of Kentucky Inc.
American Express Property Vice President
Casualty Insurance Agency
of Maryland Inc.
American Express Property Vice President
Casualty Insurance Agency
of Pennsylvania Inc.
IDS Insurance Agency of Vice President
Alabama Inc.
IDS Insurance Agency of Vice President
Arkansas Inc.
IDS Insurance Agency of Vice President
Massachusetts Inc.
IDS Insurance Agency of Vice President
New Mexico Inc.
IDS Insurance Agency of Vice President
North Carolina Inc.
IDS Insurance Agency of Vice President
Ohio Inc.
IDS Insurance Agency of Vice President
Wyoming Inc.
IDS Life Insurance Company P.O. Box 5144 Executive Vice President
of New York Albany, NY 12205
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Kenneth J. Ciak, AMEX Assurance Company IDS Tower 10 Director and President
Vice President and General Minneapolis, MN 55440
Manager
American Express Financial Vice President and General
Advisors Inc. Manager
IDS Property Casualty 1 WEG Blvd. Director and President
Insurance Company DePere, WI 54115
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Paul A. Connolly, American Express Financial IDS Tower 10 Vice President
Vice President Advisors Inc. Minneapolis, MN 55440
Colleen Curran, American Express Financial IDS Tower 10 Vice President and
Vice President and Assistant Advisors Inc. Minneapolis, MN 55440 Assistant General Counsel
General Counsel
American Express Service Vice President and Chief
Corporation Legal Counsel
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Luz Maria Davis American Express Financial IDS Tower 10 Vice President
Vice President Advisors Inc. Minneapolis, MN 55440
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Douglas K. Dunning, American Express Financial IDS Tower 10 Vice President
Vice President Advisors Inc. Minneapolis, MN 55440
<PAGE>
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Gordon L. Eid, American Express Financial IDS Tower 10 Senior Vice President,
Director, Senior Vice Advisors Inc. Minneapolis, MN 55440 General Counsel and Chief
President, General Counsel Compliance Officer
and Chief Compliance Officer
American Express Financial Vice President and Chief
Advisors Japan Inc. Compliance Officer
American Express Insurance Director and Vice President
Agency of Arizona Inc.
American Express Insurance Director and Vice President
Agency of Idaho Inc.
American Express Insurance Director and Vice President
Agency of Nevada Inc.
American Express Insurance Director and Vice President
Agency of Oregon Inc.
American Express Property Director and Vice President
Casualty Insurance Agency
of Kentucky Inc.
American Express Property Director and Vice President
Casualty Insurance Agency
of Maryland Inc.
American Express Property Director and Vice President
Casualty Insurance Agency
of Pennsylvania Inc.
IDS Insurance Agency of Director and Vice President
Alabama Inc.
IDS Insurance Agency of Director and Vice President
Arkansas Inc.
IDS Insurance Agency of Director and Vice President
Massachusetts Inc.
IDS Insurance Agency of Director and Vice President
New Mexico Inc.
IDS Insurance Agency of Director and Vice President
North Carolina Inc.
IDS Insurance Agency of Director and Vice President
Ohio Inc.
IDS Insurance Agency of Director and Vice President
Wyoming Inc.
IDS Real Estate Services, Vice President
Inc.
Investors Syndicate Director
Development Corp.
<PAGE>
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Robert M. Elconin, American Express Financial IDS Tower 10 Vice President
Vice President Advisors Inc. Minneapolis, MN 55440
IDS Life Insurance Company Vice President
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Gordon M. Fines, American Express Asset IDS Tower 10 Senior Vice President and
Vice President Management Group Inc. Minneapolis, MN 55440 Chief Investment Officer
American Express Financial Vice President
Advisors Inc.
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Douglas L. Forsberg, American Centurion Life IDS Tower 10 Director
Vice President Assurance Company Minneapolis, MN 55440
American Express Financial Vice President
Advisors Inc.
American Express Financial Director, President and
Advisors Japan Inc. Chief Executive Officer
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Jeffrey P. Fox, American Enterprise Life IDS Tower 10 Vice President and
Vice President and Corporate Insurance Company Minneapolis, MN 55440 Controller
Controller
American Express Financial Vice President and
Advisors Inc. Corporate Controller
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Harvey Golub, American Express Company American Express Tower Chairman and Chief
Director World Financial Center Executive Officer
New York, NY 10285
American Express Travel Chairman and Chief
Related Services Company, Executive Officer
Inc.
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
David A. Hammer, American Express Financial IDS Tower 10 Vice President and
Vice President and Marketing Advisors Inc. Minneapolis, MN 55440 Marketing Controller
Controller
IDS Plan Services of Director and Vice President
California, Inc.
<PAGE>
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Lorraine R. Hart, AMEX Assurance Company IDS Tower 10 Vice President
Vice President Minneapolis, MN 55440
American Centurion Life Vice President
Assurance Company
American Enterprise Life Vice President
Insurance Company
American Express Financial Vice President
Advisors Inc.
American Partners Life Director and Vice
Insurance Company President
IDS Certificate Company Vice President
IDS Life Insurance Company Vice President
IDS Life Series Fund, Inc. Vice President
IDS Life Variable Annuity Vice President
Funds A and B
Investors Syndicate Director and Vice
Development Corp. President
IDS Life Insurance Company P.O. Box 5144 Vice President
of New York Albany, NY 12205
IDS Property Casualty 1 WEG Blvd. Vice President
Insurance Company DePere, WI 54115
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Scott A. Hawkinson, American Express Financial IDS Tower 10 Vice President and
Vice President and Controller Advisors Inc. Minneapolis, MN 55440 Controller
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Janis K. Heaney, American Express Financial IDS Tower 10 Vice President
Vice President Advisors Inc. Minneapolis, MN 55440
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
James G. Hirsh, American Express Financial IDS Tower 10 Vice President and
Vice President and Assistant Advisors Inc. Minneapolis, MN 55440 Assistant General Counsel
General Counsel
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Darryl G. Horsman, American Express Trust IDS Tower 10 Director and President
Vice President Company Minneapolis, MN 55440
<PAGE>
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Jeffrey S. Horton, AMEX Assurance Company IDS Tower 10 Vice President, Treasurer
Vice President and Corporate Minneapolis, MN 55440 and Assistant Secretary
Treasurer
American Centurion Life Vice President and
Assurance Company Treasurer
American Enterprise Vice President and
Investment Services Inc. Treasurer
American Enterprise Life Vice President and
Insurance Company Treasurer
American Express Asset Vice President and
Management Group Inc. Treasurer
American Express Asset Vice President and
Management International Treasurer
Inc.
American Express Client Vice President and
Service Corporation Treasurer
American Express Vice President and
Corporation Treasurer
American Express Financial Vice President and
Advisors Inc. Treasurer
American Express Financial Vice President and
Advisors Japan Inc. Treasurer
American Express Insurance Vice President and
Agency of Arizona Inc. Treasurer
American Express Insurance Vice President and
Agency of Idaho Inc. Treasurer
American Express Insurance Vice President and
Agency of Nevada Inc. Treasurer
American Express Insurance Vice President and
Agency of Oregon Inc. Treasurer
American Express Minnesota Vice President and
Foundation Treasurer
American Express Property Vice President and
Casualty Insurance Agency Treasurer
of Kentucky Inc.
American Express Property Vice President and
Casualty Insurance Agency Treasurer
of Maryland Inc.
American Express Property Vice President and
Casualty Insurance Agency Treasurer
of Pennsylvania Inc.
American Partners Life Vice President and
Insurance Company Treasurer
IDS Cable Corporation Director, Vice President
and Treasurer
IDS Cable II Corporation Director, Vice President
and Treasurer
IDS Capital Holdings Inc. Vice President, Treasurer
and Assistant Secretary
IDS Certificate Company Vice President and
Treasurer
IDS Insurance Agency of Vice President and
Alabama Inc. Treasurer
IDS Insurance Agency of Vice President and
Arkansas Inc. Treasurer
IDS Insurance Agency of Vice President and
Massachusetts Inc. Treasurer
IDS Insurance Agency of Vice President and
New Mexico Inc. Treasurer
IDS Insurance Agency of Vice President and
North Carolina Inc. Treasurer
IDS Insurance Agency of Vice President and
Ohio Inc. Treasurer
IDS Insurance Agency of Vice President and
Wyoming Inc. Treasurer
IDS Life Insurance Company Vice President, Treasurer
and Assistant Secretary
IDS Life Insurance Company P.O. Box 5144 Vice President and
of New York Albany, NY 12205 Treasurer
IDS Life Series Fund Inc. Vice President and
Treasurer
IDS Life Variable Annuity Vice President and
Funds A & B Treasurer
IDS Management Corporation Director, Vice President
and Treasurer
IDS Partnership Services Vice President and
Corporation Treasurer
IDS Plan Services of Vice President and
California, Inc. Treasurer
IDS Real Estate Services, Vice President and
Inc. Treasurer
IDS Realty Corporation Vice President and
Treasurer
<PAGE>
IDS Sales Support Inc. Vice President and
Treasurer
Investors Syndicate Vice President and
Development Corp. Treasurer
IDS Property Casualty 1 WEG Blvd. Vice President, Treasurer
Insurance Company DePere, WI 54115 and Assistant Secretary
Public Employee Payment Vice President and
Company Treasurer
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
David R. Hubers, AMEX Assurance Company IDS Tower 10 Director
Director, President and Chief Minneapolis, MN 55440
Executive Officer
American Express Financial Chairman, President and
Advisors Inc. Chief Executive Officer
American Express Service Director and President
Corporation
IDS Certificate Company Director
IDS Life Insurance Company Director
IDS Plan Services of Director and President
California, Inc.
IDS Property Casualty 1 WEG Blvd. Director
Insurance Company DePere, WI 54115
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Martin G. Hurwitz, American Express Financial IDS Tower 10 Vice President
Vice President Advisors Inc. Minneapolis, MN 55440
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
James M. Jensen, American Express Financial IDS Tower 10 Vice President
Vice President Advisors Inc. Minneapolis, MN 55440
IDS Life Insurance Company Vice President
IDS Life Series Fund, Inc. Director
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Marietta L. Johns, American Express Financial IDS Tower 10 Senior Vice President
Director and Senior Vice Advisors Inc. Minneapolis, MN 55440
President
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Nancy E. Jones, American Express Financial IDS Tower 10 Vice President
Vice President Advisors Inc. Minneapolis, MN 55440
American Express Service Vice President
Corporation
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Ora J. Kaine, American Express Financial IDS Tower 10 Vice President
Vice President Advisors Inc. Minneapolis, MN 55440
<PAGE>
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Linda B. Keene, American Express Financial IDS Tower 10 Vice President
Vice President Advisors Inc. Minneapolis, MN 55440
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
G. Michael Kennedy, American Express Financial IDS Tower 10 Vice President
Vice President Advisors Inc. Minneapolis, MN 55440
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Susan D. Kinder, American Express Financial IDS Tower 10 Senior Vice President
Director and Senior Vice Advisors Inc. Minneapolis, MN 55440
President
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Richard W. Kling, AMEX Assurance Company IDS Tower 10 Director
Director and Senior Vice Minneapolis, MN 55440
President
American Centurion Life Director and Chairman of
Assurance Company the Board
American Enterprise Life Director and Chairman of
Insurance Company the Board
American Express Director and President
Corporation
American Express Financial Senior Vice President
Advisors Inc.
American Express Insurance Director and President
Agency of Arizona Inc.
American Express Insurance Director and President
Agency of Idaho Inc.
American Express Insurance Director and President
Agency of Nevada Inc.
American Express Insurance Director and President
Agency of Oregon Inc.
American Express Property Director and President
Casualty Insurance Agency
of Kentucky Inc.
American Express Property Director and President
Casualty Insurance Agency
of Maryland Inc.
American Express Property Director and President
Casualty Insurance Agency
of Pennsylvania Inc.
American Express Service Vice President
Corporation
American Partners Life Director and Chairman of
Insurance Company the Board
IDS Certificate Company Director and Chairman of
the Board
<PAGE>
IDS Insurance Agency of Director and President
Alabama Inc.
IDS Insurance Agency of Director and President
Arkansas Inc.
IDS Insurance Agency of Director and President
Massachusetts Inc.
IDS Insurance Agency of Director and President
New Mexico Inc.
IDS Insurance Agency of Director and President
North Carolina Inc.
IDS Insurance Agency of Director and President
Ohio Inc.
IDS Insurance Agency of Director and President
Wyoming Inc.
IDS Life Insurance Company Director and President
IDS Life Series Fund, Inc. Director and President
IDS Life Variable Annuity Manager, Chairman of the
Funds A and B Board and President
IDS Property Casualty 1 WEG Blvd. Director
Insurance Company DePere, WI 54115
IDS Life Insurance Company P.O. Box 5144 Director and Chairman of
of New York Albany, NY 12205 the Board
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Paul F. Kolkman, American Express Financial IDS Tower 10 Vice President
Vice President Advisors Inc. Minneapolis, MN 55440
IDS Life Insurance Company Director and Executive
Vice President
IDS Life Series Fund, Inc. Vice President and Chief
Actuary
IDS Property Casualty 1 WEG Blvd. Director
Insurance Company DePere, WI 54115
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Claire Kolmodin, American Express Financial IDS Tower 10 Vice President
Vice President Advisors Inc. Minneapolis, MN 55440
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Steve C. Kumagai, American Express Financial IDS Tower 10 Director and Senior Vice
Director and Senior Vice Advisors Inc. Minneapolis, MN 55440 President
President
Kurt A Larson, American Express Financial IDS Tower 10 Vice President
Vice President Advisors Inc. Minneapolis, MN 55440
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Lori J. Larson, American Express Financial IDS Tower 10 Vice President
Vice President Advisors Inc. Minneapolis, MN 55440
<PAGE>
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Daniel E. Laufenberg, American Express Financial IDS Tower 10 Vice President and Chief
Vice President and Chief U.S. Advisors Inc. Minneapolis, MN 55440 U.S. Economist
Economist
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Peter A. Lefferts, American Express Financial IDS Tower 10 Senior Vice President
Director and Senior Vice Advisors Inc. Minneapolis, MN 55440
President
American Express Trust Director
Company
IDS Plan Services of Director
California, Inc.
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Douglas A. Lennick, American Express Financial IDS Tower 10 Director and Executive
Director and Executive Vice Advisors Inc. Minneapolis, MN 55440 Vice President
President
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Jonathan S. Linen, IDS Tower 10
Director Minneapolis, MN 55440
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Mary J. Malevich, American Express Financial IDS Tower 10 Vice President
Vice President Advisors Inc. Minneapolis, MN 55440
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Fred A. Mandell, American Express Financial IDS Tower 10 Vice President
Vice President Advisors Inc. Minneapolis, MN 55440
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Sarah A. Mealey, American Express Financial IDS Tower 10 Vice President
Vice President Advisors Inc. Minneapolis, MN 55440
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Paula R. Meyer, American Enterprise Life IDS Tower 10 Vice President
Vice President Insurance Company Minneapolis, MN 55440
American Express Director
Corporation
American Express Financial Vice President
Advisors Inc.
American Partners Life Director and President
Insurance Company
IDS Certificate Company Director and President
IDS Life Insurance Company Director and Executive
Vice President
Investors Syndicate Director, Chairman of the
Development Corporation Board and President
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
James A. Mitchell, AMEX Assurance Company IDS Tower 10 Director
Director and Executive Vice Minneapolis, MN 55440
President
American Enterprise Director
Investment Services Inc.
American Express Financial Executive Vice President
Advisors Inc.
American Express Service Director and Senior Vice
Corporation President
American Express Tax and Director
Business Services Inc.
IDS Certificate Company Director
IDS Life Insurance Company Director, Chairman of the
Board and Chief Executive
Officer
IDS Plan Services of Director
California, Inc.
IDS Property Casualty 1 WEG Blvd. Director
Insurance Company DePere, WI 54115
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
William P. Miller, Advisory Capital IDS Tower 10 Vice President
Vice President and Senior Strategies Group Inc. Minneapolis, MN 55440
Portfolio Manager
American Express Asset Senior Vice President and
Management Group Inc. Chief Investment Officer
American Express Financial Vice President and Senior
Advisors Inc. Portfolio Manager
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Pamela J. Moret, American Express Financial IDS Tower 10 Vice President
Vice President Advisors Inc. Minneapolis, MN 55440
American Express Trust Vice President
Company
IDS Life Insurance Company Executive Vice President
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Barry J. Murphy, American Express Client IDS Tower 10 Director and President
Director and Senior Vice Service Corporation Minneapolis, MN 55440
President
American Express Financial Senior Vice President
Advisors Inc.
IDS Life Insurance Company Director and Executive
Vice President
Mary Owens Neal, American Express Financial IDS Tower 10 Vice President
Vice President Advisors Inc. Minneapolis, MN 55440
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Michael J. O'Keefe, American Express Financial IDS Tower 10 Vice President
Vice President Advisors Inc. Minneapolis, MN 55440
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
James R. Palmer, American Express Financial IDS Tower 10 Vice President
Vice President Advisors Inc. Minneapolis, MN 55440
IDS Life Insurance Company Vice President
<PAGE>
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Carla P. Pavone, American Express Financial IDS Tower 10 Vice President
Vice President Advisors Inc. Minneapolis, MN 55440
Public Employee Payment Director and President
Company
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Thomas P. Perrine, American Express Financial IDS Tower 10 Senior Vice President
Senior Vice President Advisors Inc. Minneapolis, MN 55440
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Susan B. Plimpton, American Express Financial IDS Tower 10 Vice President
Vice President Advisors Inc. Minneapolis, MN 55440
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Ronald W. Powell, American Express Financial IDS Tower 10 Vice President and
Vice President and Assistant Advisors Inc. Minneapolis, MN 55440 Assistant General Counsel
General Counsel
IDS Cable Corporation Vice President and
Assistant Secretary
IDS Cable II Corporation Vice President and
Assistant Secretary
IDS Management Corporation Vice President and
Assistant Secretary
IDS Partnership Services Vice President and
Corporation Assistant Secretary
IDS Plan Services of Vice President and
California, Inc. Assistant Secretary
IDS Realty Corporation Vice President and
Assistant Secretary
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
James M. Punch, American Express Financial IDS Tower 10 Vice President and Project
Vice President and Project Advisors Inc. Minneapolis, MN 55440 Manager
Manager
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Frederick C. Quirsfeld, American Express Asset IDS Tower 10 Senior Vice President and
Senior Vice President Management Group Inc. Minneapolis, MN 55440 Senior Portfolio Manager
American Express Financial Senior Vice President
Advisors Inc.
Rollyn C. Renstrom, American Express Financial IDS Tower 10 Vice President
Vice President Advisors Inc. Minneapolis, MN 55440
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
ReBecca K. Roloff, American Express Financial IDS Tower 10 Senior Vice President
Senior Vice President Advisors Inc. Minneapolis, MN 55440
<PAGE>
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Stephen W. Roszell, Advisory Capital IDS Tower 10 Director
Senior Vice President Strategies Group Inc. Minneapolis, MN 55440
American Express Asset Director, President and
Management Group Inc. Chief Executive Officer
American Express Asset Director
Management International,
Inc.
American Express Asset Director
Management Ltd.
American Express Financial Senior Vice President
Advisors Inc.
American Express Trust Director
Company
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Erven A. Samsel, American Express Financial IDS Tower 10 Senior Vice President
Director and Senior Vice Advisors Inc. Minneapolis, MN 55440
President
American Express Insurance Vice President
Agency of Idaho Inc.
American Express Insurance Vice President
Agency of Nevada Inc.
American Express Insurance Vice President
Agency of Oregon Inc.
American Express Property Vice President
Casualty Insurance Agency
of Kentucky Inc.
American Express Property Vice President
Casualty Insurance Agency
of Maryland Inc.
American Express Property Vice President
Casualty Insurance Agency
of Pennsylvania Inc.
IDS Insurance Agency of Vice President
Alabama Inc.
IDS Insurance Agency of Vice President
Arkansas Inc.
IDS Insurance Agency of Vice President
Massachusetts Inc.
IDS Insurance Agency of Vice President
New Mexico Inc.
IDS Insurance Agency of Vice President
North Carolina Inc.
IDS Insurance Agency of Vice President
Ohio Inc.
IDS Insurance Agency of Vice President
Wyoming Inc.
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Stuart A. Sedlacek, AMEX Assurance Company IDS Tower 10 Director
Senior Vice President and Minneapolis, MN 55440
Chief Financial Officer
American Enterprise Life Executive Vice President
Insurance Company
American Express Financial Senior Vice President and
Advisors Inc. Chief Financial Officer
American Express Trust Director
Company
American Partners Life Director and Vice President
Insurance Agency
IDS Certificate Company Director and President
IDS Life Insurance Company Executive Vice President
and Controller
IDS Property Casualty 1 WEG Blvd. Director
Insurance Company DePere, WI 54115
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Donald K. Shanks, AMEX Assurance Company IDS Tower 10 Senior Vice President
Vice President Minneapolis, MN 55440
American Express Financial Vice President
Advisors Inc.
IDS Property Casualty 1 WEG Blvd. Senior Vice President
Insurance Company DePere, WI 54115
<PAGE>
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
F. Dale Simmons, AMEX Assurance Company IDS Tower 10 Vice President
Vice President Minneapolis, MN 55440
American Centurion Life Vice President
Assurance Company
American Enterprise Life Vice President
Insurance
American Express Financial Vice President
Advisors Inc.
American Partners Life Vice President
Insurance Company
IDS Certificate Company Vice President
IDS Life Insurance Company Vice President
IDS Partnership Services Director and Vice President
Corporation
IDS Real Estate Services Chairman of the Board and
Inc. President
IDS Realty Corporation Director and Vice President
IDS Life Insurance Company P.O. Box 5144 Vice President
of New York Albany, NY 12205
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Judy P. Skoglund, American Express Financial IDS Tower 10 Vice President
Vice President Advisors Inc. Minneapolis, MN 55440
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Bridget Sperl, American Express Client IDS Tower 10 Vice President
Vice President Service Corporation Minneapolis, MN 55440
American Express Financial Vice President
Advisors Inc.
Public Employee Payment Director and President
Company
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Lisa A. Steffes, American Express Financial IDS Tower 10 Vice President
Vice President Advisors Inc. Minneapolis, MN 55440
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
<PAGE>
William A. Stoltzmann, American Enterprise Life IDS Tower 10 Director, Vice President,
Vice President and Assistant Insurance Company Minneapolis, MN 55440 General Counsel and
General Counsel Secretary
American Express Director, Vice President
Corporation and Secretary
American Express Financial Vice President and
Advisors Inc. Assistant General Counsel
American Partners Life Director, Vice President,
Insurance Company General Counsel and
Secretary
IDS Life Insurance Company Vice President, General
Counsel and Secretary
IDS Life Series Fund Inc. General Counsel and
Assistant Secretary
IDS Life Variable Annuity General Counsel and
Funds A & B Assistant Secretary
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
James J. Strauss, American Express Financial IDS Tower 10 Vice President
Vice President and General Advisors Inc. Minneapolis, MN 55440
Auditor
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Jeffrey J. Stremcha, American Express Financial IDS Tower 10 Vice President
Vice President Advisors Inc. Minneapolis, MN 55440
Barbara Stroup Stewart, American Express Financial IDS Tower 10 Vice President
Vice President Advisors Inc. Minneapolis, MN 55440
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Wesley W. Wadman, American Express Asset IDS Tower 10 Executive Vice President
Vice President Management Group Inc. Minneapolis, MN 55440
American Express Asset Director and Senior Vice
Management International, President
Inc.
American Express Asset Director and Vice Chairman
Management Ltd.
American Express Financial Vice President
Advisors Inc.
IDS Fund Management Limited Director and Vice Chairman
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Norman Weaver Jr., American Express Financial IDS Tower 10 Senior Vice President
Director and Senior Vice Advisors Inc. Minneapolis, MN 55440
President
American Express Insurance Vice President
Agency of Arizona Inc.
American Express Insurance Vice President
Agency of Idaho Inc.
American Express Insurance Vice President
Agency of Nevada Inc.
American Express Insurance Vice President
Agency of Oregon Inc.
American Express Property Vice President
Casualty Insurance Agency
of Kentucky Inc.
American Express Property Vice President
Casualty Insurance Agency
of Maryland Inc.
American Express Property Vice President
Casualty Insurance Agency
of Pennsylvania Inc.
IDS Insurance Agency of Vice President
Alabama Inc.
IDS Insurance Agency of Vice President
Arkansas Inc.
IDS Insurance Agency of Vice President
Massachusetts Inc.
IDS Insurance Agency of Vice President
New Mexico Inc.
IDS Insurance Agency of Vice President
North Carolina Inc.
IDS Insurance Agency of Vice President
Ohio Inc.
IDS Insurance Agency of Vice President
Wyoming Inc.
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Michael L. Weiner, American Express Financial IDS Tower 10 Vice President
Vice President Advisors Inc. Minneapolis, MN 55440
IDS Capital Holdings Inc. Vice President
IDS Futures Brokerage Group Vice President
IDS Futures Corporation Vice President, Treasurer
and Secretary
IDS Sales Support Inc. Director, Vice President
and Assistant Treasurer
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Lawrence J. Welte, American Express Financial IDS Tower 10 Vice President
Vice President Advisors Inc. Minneapolis, MN 55440
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Jeffry F. Welter, American Express Financial IDS Tower 10 Vice President
Vice President Advisors Inc. Minneapolis, MN 55440
<PAGE>
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Edwin M. Wistrand, American Express Financial IDS Tower 10 Vice President and
Vice President and Assistant Advisors Inc. Minneapolis, MN 55440 Assistant General Counsel
General Counsel
American Express Financial Vice President and Chief
Advisors Japan Inc. Legal Officer
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Michael D. Wolf, American Express Asset IDS Tower 10 Executive Vice President
Vice President Management Group Inc. Minneapolis, MN 55440 and Senior Portfolio
Manager
American Express Financial Vice President
Advisors Inc.
<PAGE>
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
Michael R. Woodward, American Express Financial IDS Tower 10 Senior Vice President
Director and Senior Vice Advisors Inc. Minneapolis, MN 55440
President
American Express Insurance Vice President
Agency of Idaho Inc.
American Express Insurance Vice President
Agency of Nevada Inc.
American Express Insurance Vice President
Agency of Oregon Inc.
American Express Property Vice President
Casualty Insurance Agency
of Kentucky Inc.
American Express Property Vice President
Casualty Insurance Agency
of Maryland Inc.
American Express Property Vice President
Casualty Insurance Agency
of Pennsylvania Inc.
IDS Insurance Agency of Vice President
Alabama Inc.
IDS Insurance Agency of Vice President
Arkansas Inc.
IDS Insurance Agency of Vice President
Massachusetts Inc.
IDS Insurance Agency of Vice President
New Mexico Inc.
IDS Insurance Agency of Vice President
North Carolina Inc.
IDS Insurance Agency of Vice President
Ohio Inc.
IDS Insurance Agency of Vice President
Wyoming Inc.
IDS Life Insurance Company P.O. Box 5144 Director
of New York Albany, NY 12205
- ------------------------------- ---------------------------- ---------------------------- ----------------------------
</TABLE>
Item 6. PRINCIPAL UNDERWRITERS
(a) IDS Life is the Principal underwriter for IDS Life
Variable Annuity Fund A, IDS Life Variable Annuity
Fund B, IDS Life Accounts F, IZ, JZ, G, H, N, KZ, LZ,
AND MZ, IDS Life Account RE, IDS Life Account MGA and
IDS Life Account SBS, IDS Life Variable Account 10,
IDS Life Variable Life Separate Account and IDS Life
Variable Account for Smith Barney.
<PAGE>
<TABLE>
<CAPTION>
Item 6(b). Principal Underwriter (IDS Life Insurance Company)
<S> <C> <C>
Name and Principal Business Address Position and Offices with Underwriter Positions and Offices with
Registrant
- ------------------------------------- ----------------------------------------- -------------------------------------
Timothy V. Bechtold Executive Vice President-Risk None
IDS Tower 10 Management Products
Minneapolis, MN 55440
David J. Berry Vice President None
IDS Tower 10
Minneapolis, MN 55440
Mark W. Carter Executive Vice President- Marketing None
IDS Tower 10
Minneapolis, MN 55440
Robert M. Elconin Vice President None
IDS Tower 10
Minneapolis, MN 55440
Lorraine R. Hart Vice President-Investments Vice President, Investments
IDS Tower 10
Minneapolis, MN 55440
Jeffrey S. Horton Vice President, Treasurer and Assistant Vice President and Treasurer
IDS Tower 10 Secretary
Minneapolis, MN 55440
David R. Hubers Director None
IDS Tower 10
Minneapolis, MN 55440
James M. Jensen Vice President-Insurance Product None
IDS Tower 10 Development
Minneapolis, MN 55440
Richard W. Kling Director and President Manager, Chairman of the Board and
IDS Tower 10 President
Minneapolis, MN 55440
Paul F. Kolkman Director and Executive Vice President None
IDS Tower 10
Minneapolis, MN 55440
Paula R. Meyer Director and Executive Vice President - None
IDS Tower 10 Assured Assets
Minneapolis, MN 55440
James A. Mitchell Director, Chairman of the Board and None
IDS Tower 10 Chief Executive Officer
Minneapolis, MN 55440
Pamela J. Moret Executive Vice President- Variable None
IDS Tower 10 Assets
Minneapolis, MN 55440
Barry J. Murphy Director and Executive Vice None
IDS Tower 10 President-Client Service
Minneapolis, MN 55440
<PAGE>
James R. Palmer Vice President-Taxes None
IDS Tower 10
Minneapolis, MN 55440
Stuart A. Sedlacek Director and Executive Vice President None
IDS Tower 10
Minneapolis, MN 55440
F. Dale Simmons Vice President-Real Estate Loan None
IDS Tower 10 Management and Assistant Treasurer
Minneapolis, MN 55440
William A. Stoltzmann Vice President, General Counsel and General Counsel and Assistant
IDS Tower 10 Secretary Secretary
Minneapolis, MN 55440
Philip C. Wentzel Vice President and Controller Controller
IDS Tower 10
Minneapolis, MN 55440
</TABLE>
<PAGE>
Item 7. LOCATION OF ACCOUNTS AND RECORDS
IDS Life Insurance Company
IDS Tower
Minneapolis, Minnesota
Item 8. MANAGEMENT SERVICES
Not Applicable.
Item 9. DISTRIBUTION EXPENSES
Not Applicable.
Item 10. UNDERTAKINGS
(a) and (b) These undertakings were filed in Registrant's
initial Registration Statement.
(c) The sponsoring insurance company represents that the fees
and charges deducted under the contract, 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
Pursuant to the requirements of the Securities Act of 1933 and the Investment
Company Act of 1940, the Registrant IDS Life Variable Annuity Fund A, has duly
caused this Amendment to its Registration Statement to be signed on its behalf
by the undersigned thereunto duly authorized, in the city of Minneapolis, and
State of Minnesota on the 27th day of January, 1999.
IDS LIFE VARIABLE ANNUITY FUND A
By: /s/ Richard W. Kling**
Richard W. Kling**
Chairman of the Board of Managers
Pursuant to the requirements of the Securities Act of 1933, this Amendment to
the Registration Statement has been signed below by the following persons in the
capacities indicated on the 27th day of January, 1999.
Signature Title
/s/ Edward Landes** Member, Board of Managers
Edward Landes
/s/ Carl N. Platou** Member, Board of Managers
Carl N. Platou
/s/ Gordon H. Ritz** Member, Board of Managers
Gordon H. Ritz
/s/ Richard W. Kling** Chairman of the Board
Richard W. Kling of Managers and President
/s/ Lorraine R. Hart** Vice President, Investments
Lorraine R. Hart
/s/ Jeffery S. Horton** Vice President and Controller
Jeffery S. Horton
<PAGE>
Signature Title
/s/ Timothy S. Meehan** Secretary
Timothy S. Meehan
/s/ William A. Stoltzmann** General Counsel and
William A. Stoltzmann Assistant Secretary
** Signed pursuant to IDS Life Variable Annuity Fund A Board of Managers Power
of Attorney dated March 25, 1997 filed electronically as Exhibit 17(b) to
Registrant's Post-Effective Amendment No.
60 to this Registration Statement:
by /s/ Mary Ellyn Minenko
Mary Ellyn Minenko
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933 and the Investment
Company Act of 1940, IDS Life Insurance Company, on behalf of the Registrant,
has duly caused this Amendment to its Registration Statement to be signed on its
behalf by the undersigned thereunto duly authorized, in the city of Minneapolis,
and State of Minnesota on the 27th day of January, 1999.
IDS LIFE INSURANCE COMPANY
By: /s/ Richard W. Kling*
Richard W. Kling
President
Pursuant to the requirements of the Securities Act of 1933, this Amendment to
the Registration Statement has been signed below by the following persons in the
capacities indicated on the 27th day of January, 1999.
Signature Title
/s/ James A. Mitchell* Chairman of the Board
James A. Mitchell and Chief Executive Officer
/s/ Richard W. Kling* Director and President
Richard W. Kling
/s/ Jeffrey S. Horton** Vice President and Treasurer
Jeffrey S. Horton
/s/ David R. Hubers* Director
David R. Hubers
/s/ Paul F. Kolkman* Director and Executive Vice
Paul F. Kolkman President
/s/ Barry J. Murphy* Director and Executive Vice
Barry J. Murphy President, Client Service
/s/ Stuart A. Sedlacek* Director and Executive Vice
Stuart A. Sedlacek President, Assured Assets
/s/ Philip C. Wentzel** Vice President and Controller
Philip C. Wentzel
<PAGE>
*Signed pursuant to Power of Attorney, dated August 19, 1997, filed
electronically as Exhibit 17(a) to Post-Effective Amendment No. 61.
**Signed pursuant to Power of Attorney dated April 9, 1998, filed electronically
as Exhibit 17(c) to Post-Effective Amendment No. 61.
by /s/ Mary Ellyn Minenko
Mary Ellyn Minenko
<PAGE>
CONTENTS OF THIS
POST-EFFECTIVE AMENDMENT NO. 62
TO REGISTRATION STATEMENT NO. 2-29081
This Post-Effective Amendment comprises the following papers and documents.
The facing sheet.
Part I.
Cross Reference Sheet.
Prospectus.
Part II.
Other Information.
Signatures.
