Registration No. 2-30070
Registration No. 811-1705
- -------------------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
-----------------------------------
FORM N-4
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 | |
Pre-Effective Amendment No. | |
----
|X|
Post-Effective Amendment No. 61
----
AND/OR
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 | |
|X|
Amendment No. 63
----
(Check appropriate box or boxes)
--------------------------------
SEPARATE ACCOUNT A
of
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
(Exact Name of Registrant)
--------------------------
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
(Name of Depositor)
1290 Avenue of the Americas, New York, New York 10104
(Address of Depositor's Principal Executive Offices)
Depositor's Telephone Number, including Area Code: (212) 554-1234
----------------------------
MARY P. BREEN
VICE PRESIDENT AND ASSOCIATE GENERAL COUNSEL
The Equitable Life Assurance Society of the United States
1290 Avenue of the Americas, New York, New York 10104
(Names and Addresses of Agents for Service)
--------------------------------
Please send copies of all communications to:
PETER E. PANARITES, ESQ.
Freedman, Levy, Kroll & Simonds
1050 Connecticut Avenue, N.W., Suite 825
Washington, D.C. 20036
---------------------------------
<PAGE>
Approximate Date of Proposed Public Offering: Continuous
It is proposed that this filing will become effective (check
appropriate box):
| | Immediately upon filing pursuant to paragraph (b) of Rule 485.
| | On May 1, 1998 pursuant to paragraph (b) of Rule 485.
|X| 60 days after filing pursuant to paragraph (a)(1) of Rule 485.
| | On (date) pursuant to paragraph (a)(1) of Rule 485.
| | 75 days after filing pursuant to paragraph (a)(2) of Rule 485.
| | On (date) pursuant to paragraph (a)(3) of Rule 485.
If appropriate, check the following box:
| | This post-effective amendment designates a new effective date for
previously filed post-effective amendment.
---------------------------------
Title of Securities Being Registered:
Units of interest in Separate Account under variable annuity
contracts.
<PAGE>
NOTE
This Post Effective Amendment No. 61 ("PEA") to the Form N-4 Registration
Statement No. 2-30070 ("Registration Statement") of The Equitable Life Assurance
Society of the United States and its Separate Account A is being filed solely
for the purpose of including in the Registration Statement new ROTH Advantage
IRA and TSA Advantage Supplements ("Supplements") and related exhibits,
including certain standard Roth IRA exhibits. The Supplements relate to the
prospectus dated May 1, 1998 previously filed in the Registration Statement. The
PEA does not amend or delete any other part of the Registration Statement except
as specifically noted herein.
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SUPPLEMENT DATED JULY ___, 1998
TO
EQUI-VEST(R) PROSPECTUS
DATED MAY 1, 1998
ROTH ADVANTAGE(SM)
This supplement modifies certain information contained in the prospectus dated
May 1, 1998 ("Prospectus") as it relates to EQUI-VEST Roth Advantage Contracts
offered by The Equitable Life Assurance Society of the United States.
Capitalized terms have the same meaning as in the Prospectus.
EQUI-VEST ROTH ADVANTAGE CONTRACT (ROTH ADVANTAGE)
EQUI-VEST Roth Advantage is designed to qualify as a Roth individual retirement
annuity under Sections 408A and 408(b) of the Code. Your interest in the Roth
Advantage cannot be forfeited. You or your beneficiaries who survive you are the
only ones who can receive the benefits or payments.
EQUI-VEST Roth Advantage is offered on the same basis and under the same terms
and conditions described in the Prospectus as applicable to the EQUI-VEST Roth
IRA, except that for EQUI-VEST Roth Advantage the daily charge applied to the
investment funds and the circumstances under which the Contingent Withdrawal
Charge is waived or modified are as follows:
THE FOLLOWING TABLE AND EXAMPLES ARE ADDED AFTER "EQUI-VEST: SERIES 300 AND 400
- - ACCUMULATION UNIT VALUES" ON PAGE 23 OF THE PROSPECTUS.
TABLE 5: EQUI-VEST ROTH ADVANTAGE
Description of Expenses
<TABLE>
<S> <C>
CONTRACT OWNER TRANSACTION EXPENSES
SALES LOAD ON PURCHASES ................................................................ NONE
MAXIMUM CONTINGENT WITHDRAWAL CHARGE (1) ............................................... 6%
MAXIMUM/CURRENT ANNUAL ADMINISTRATIVE CHARGE (2) ....................................... $65/30
MAXIMUM/CURRENT THIRD PARTY TRANSFER OR EXCHANGE FEE (3) ............................... $65/25 PER OCCURRENCE
SEPARATE ACCOUNT ANNUAL EXPENSES
Mortality and Expense Risk Fees (including Death Benefit Charges)....................... 1.20%
Other Expenses ......................................................................... .25%
========
Total Separate Account Annual Expenses (4)............................................ 1.45%
========
</TABLE>
<TABLE>
<CAPTION>
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ALLIANCE
ALLIANCE INTERMEDIATE ALLIANCE ALLIANCE ALLIANCE ALLIANCE
MONEY GOVERNMENT QUALITY ALLIANCE GROWTH EQUITY COMMON
MARKET SECURITIES BOND HIGH YIELD & INCOME INDEX STOCK
--------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
HRT ANNUAL EXPENSES
Investment Advisory Fees .35% .50% .53% .60% .55% .32% .37%
Other Expenses .04% .06% .05% .04% .04% .04% .03%
- -------------------------------------------------------------------------------------------------------------------------------
Total HRT Annual Expenses (5)(6) .39% .56% .58% .64% .59% .36% .40%
- -------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
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ALLIANCE ALLIANCE ALLIANCE ALLIANCE
ALLIANCE ALLIANCE AGGRESSIVE SMALL CAP CONSERVATIVE ALLIANCE GROWTH
GLOBAL INTERNATIONAL STOCK GROWTH INVESTORS BALANCED INVESTORS
--------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
HRT ANNUAL EXPENSES
Investment Advisory Fees .65% .90% .54% .90% .48% .42% .52%
Other Expenses .08% .18% .03% .05% .07% .05% .05%
- -------------------------------------------------------------------------------------------------------------------------------
Total HRT Annual Expenses (5)(6) .73% 1.08% .57% .95% .55% .47% .57%
- -------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
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EQ/PUTNAM GROWTH
T. ROWE PRICE T. ROWE PRICE & EQ/ PUTNAM
INTERNATIONAL EQUITY INCOME INCOME VALUE BALANCED MFS RESEARCH
STOCK PORTFOLIO PORTFOLIO PORTFOLIO PORTFOLIO PORTFOLIO
--------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
EQAT Annual Expenses
Investment Management and
Advisory Fee .75% .55% .55% .55% .55%
Rule 12b-1 Fee(7) .25% .25% .25% .25% .25%
Other Expenses .20% .05% .05% .10% .05%
- -------------------------------------------------------------------------------------------------------------------------------
Total EQAT Annual Expenses (8) 1.20% .85% .85% .90% .85%
- -------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
- -------------------------------------------------------------------------------------------------------------------------------
MORGAN STANLEY
MFS EMERGING EMERGING WARBURG PINCUS MERRILL LYNCH MERRILL LYNCH
GROWTH COM- MARKETS EQUITY SMALL COMPANY WORLD STRATEGY BASIC VALUE
PANIES PORTFOLIO PORTFOLIO VALUE PORTFOLIO PORTFOLIO EQUITY PORTFOLIO
--------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
EQAT Annual Expenses
Investment Management and
Advisory Fee .55% 1.15% .65% .70% .55%
Rule 12b-1 Fee(7) .25% .25% .25% .25% .25%
Other Expenses .05% .35% .10% .25% .05%
- -------------------------------------------------------------------------------------------------------------------------------
Total EQAT Annual Expenses (8) .85% 1.75% 1.00% 1.20% .85%
- -------------------------------------------------------------------------------------------------------------------------------
</TABLE>
- -------------------
Notes:
(1) The contingent withdrawal charge is a percentage of specified contributions.
See "Contingent Withdrawal Charge" in Part 7. As discussed in the Prospectus
and as set forth below in this Supplement, important exceptions and
limitations may eliminate or reduce the contingent withdrawal charge.
(2) The Annual Administrative Charge is the lesser of $30 or 2% of the Annuity
Account Value (adjusted to include any withdrawals made during that year)
during the first two Contract Years; and $30 for each Contract Year
thereafter. See "Annual Administrative Charge" in Part 7. We reserve the
right to increase this fee in the future if our administrative costs
increase, but such fee may not exceed an annual maximum of $65, subject to
applicable law.
(3) There is a Third Party Transfer or Exchange Fee of $25 per occurrence. We
reserve the right to increase this fee in the future, but such fee may not
exceed a maximum of $65 per occurrence, subject to applicable law.
(4) The total charge for Separate Account annual expenses is subject to change,
but may not exceed 2.00%. See "Charges to Investment Funds" in the addition
to Part 7 of the Prospectus set forth below in this Supplement.
(5) Effective May 1, 1997, a new Investment Advisory Agreement was entered into
between HRT and Alliance Capital Management L.P., HRT's Investment Adviser,
which effected changes in HRT's management fee and expense structure. See
HRT's prospectus for more information.
The tables above reflecting HRT's expenses are based on average portfolio
net assets for the year ended December 31, 1997 and have been restated to
reflect (i) the fees that would have been paid to Alliance if the current
advisory agreement had been in effect as of January 1, 1997 and (ii)
estimated accounting expenses for the year ending December 31, 1997.
(6) The investment advisory fee for each Portfolio may vary from year to year
depending upon the average daily net assets of the respective Portfolio of
the HRT. The maximum investment advisory fee, however, cannot be increased
without a vote of that Portfolio's shareholders. The other direct operating
expenses will also fluctuate from year to year depending on actual expenses.
HRT's expenses are shown as a percentage of each Portfolio's average
portfolio net assets. See "Charges to Portfolios" in Part 7.
(7) The Class IB shares of EQAT are subject to fees imposed under distribution
plans (herein, the "Rule 12b-1 Plans" ) adopted by EQAT pursuant to Rule
12b-1 under the Investment Company Act of 1940, as amended. The Rule 12b-1
Plans provide that EQAT, on behalf of each Portfolio, may charge annually up
to 0.25% of the average daily net assets of a Portfolio attributable to its
Class IB shares in respect of activities primarily intended to result in the
sale of the Class IB shares. The 12b-1 fee will not be increased for the
life of the Contracts.
2
<PAGE>
(8) All EQAT Portfolios commenced operations on May 1, 1997 except the Morgan
Stanley Emerging Markets Equity Portfolio, which commenced operations on
August 20, 1997.
The maximum investment management and advisory fees for each EQAT Portfolio
cannot be increased without a vote of that Portfolio's shareholders. The
amounts shown as "Other Expenses" will fluctuate from year to year depending
on actual expenses; however, EQ Financial Consultants, Inc. ("EQ
Financial"), EQAT's manager, has entered into an expense limitation
agreement with respect to each Portfolio ("Expense Limitation Agreement"),
pursuant to which EQ Financial has agreed to waive or limit its fees and
assume other expenses. Under the Expense Limitation Agreement, total annual
operating expenses of each Portfolio (other than interest, taxes, brokerage
commissions, capitalized expenditures, extraordinary expenses and 12b-1
fees) are limited for the respective average daily net assets of each
Portfolio as follows: 0.60% for Merrill Lynch Basic Value Equity, MFS
Research, MFS Emerging Growth Companies, EQ/Putnam Growth & Income Value and
T. Rowe Price Equity Income; 0.65% for EQ/Putnam Balanced; 0.75% for Warburg
Pincus Small Company Value; 0.95% for Merrill Lynch World Strategy and T.
Rowe Price International Stock; and 1.50% for Morgan Stanley Emerging
Markets Equity.
Absent the expense limitation, "Other Expenses" for 1997 on an annualized
basis for each of the Portfolios would have been as follows: 0.80% for
Warburg Pincus Small Company Value; 0.94% for T. Rowe Price Equity Income;
0.95% for EQ/Putnam Growth & Income Value; 0.98% for MFS Research; 1.02% for
MFS Emerging Growth Companies; 1.09% for Merrill Lynch Basic Value Equity;
1.21% for Morgan Stanley Emerging Markets Equity; 1.56% for T. Rowe Price
International Stock; 1.75% for EQ/Putnam Balanced; and 2.10% for Merrill
Lynch World Strategy.
Each Portfolio may at a later date make a reimbursement to EQ Financial for
any of the management fees waived or limited and other expenses assumed and
paid by EQ Financial pursuant to the Expense Limitation Agreement provided,
that among other things, such Portfolio has reached sufficient size to
permit such reimbursement to be made and provided that the Portfolio's
current annual operating expenses do not exceed the operating expense limit
determined for such Portfolio. See the EQAT prospectus for more information.
EXAMPLES: EQUI-VEST ROTH ADVANTAGE
For the Roth Advantage Contract, the examples which follow show the expenses
that a hypothetical Contract Owner would pay in the surrender and nonsurrender
situations noted below, assuming a single contribution of $1,000 on the Contract
Date invested in one of the Investment Funds listed, a 5% annual return on
assets and no waiver of the contingent withdrawal charge. For purposes of these
examples, the annual administrative charge is computed by reference to the
actual aggregate annual administrative charges as a percentage of the total
assets held under all EQUI-VEST Contracts.
These examples should not be considered a representation of past or future
expenses for each Investment Fund or Portfolio. Actual expenses may be greater
or less than those shown. Similarly, the annual rate of return assumed in the
examples is not an estimate or guarantee of future investment performance.
IF YOU SURRENDER YOUR CONTRACT AT THE END OF EACH PERIOD SHOWN, THE EXPENSE
WOULD BE:
- --------------------------------------------------------------------------------
INVESTMENT FUND 1 YEAR 3 YEARS
--------------- -------------------------------
Alliance Money Market $75.63 $120.87
Alliance Intermediate Government Securities 77.32 125.96
Alliance Quality Bond 77.52 126.55
Alliance High Yield 78.12 128.34
Alliance Growth & Income 77.62 126.85
Alliance Equity Index 75.34 119.97
Alliance Common Stock 75.73 121.17
Alliance Global 79.01 131.03
Alliance International 82.48 141.41
Alliance Small Cap Growth 81.19 137.56
Alliance Aggressive Stock 77.42 126.25
Alliance Conservative Investors 77.22 125.66
Alliance Balanced 76.43 123.26
Alliance Growth Investors 77.42 126.25
T. Rowe Price International Stock Portfolio 83.67 144.95
T. Rowe Price Equity Income Portfolio 80.20 134.59
EQ/Putnam Growth & Income Value Portfolio 80.20 134.59
EQ/Putnam Balanced Portfolio 80.70 136.08
MFS Research Portfolio 80.20 134.59
MFS Emerging Growth Companies Portfolio 80.20 134.59
Morgan Stanley Emerging Markets Equity Portfolio 89.13 161.07
Warburg Pincus Small Company Value Portfolio 81.69 139.04
Merrill Lynch World Strategy Portfolio 83.67 144.95
Merrill Lynch Basic Value Equity Portfolio 80.20 134.59
- --------------------------------------------------------------------------------
3
<PAGE>
IF YOU DO NOT SURRENDER YOUR CONTRACT AT THE END OF EACH PERIOD SHOWN, THE
EXPENSE WOULD BE:
- --------------------------------------------------------------------------------
INVESTMENT FUND 1 YEAR 3 YEARS
--------------- -------------------------------
Alliance Money Market $20.01 $ 61.86
Alliance Intermediate Government Securities 21.80 67.26
Alliance Quality Bond 22.01 67.89
Alliance High Yield 22.64 69.79
Alliance Growth & Income 22.11 68.21
Alliance Equity Index 19.70 60.91
Alliance Common Stock 20.12 62.18
Alliance Global 23.58 72.63
Alliance International 27.25 83.64
Alliance Small Cap Growth 25.89 79.56
Alliance Aggressive Stock 21.90 67.57
Alliance Conservative Investors 21.69 66.94
Alliance Balanced 20.85 64.40
Alliance Growth Investors 21.90 67.57
T. Rowe Price International Stock Portfolio 28.51 87.39
T. Rowe Price Equity Income Portfolio 24.84 76.41
EQ/Putnam Growth & Income Value Portfolio 24.84 76.41
EQ/Putnam Balanced Portfolio 25.37 77.99
MFS Research Portfolio 24.84 76.41
MFS Emerging Growth Companies Portfolio 24.84 76.41
Morgan Stanley Emerging Markets Equity Portfolio 34.29 104.48
Warburg Pincus Small Company Value Portfolio 26.42 81.13
Merrill Lynch World Strategy Portfolio 28.51 87.39
Merrill Lynch Basic Value Equity Portfolio 24.84 76.41
- -------------------
The amount accumulated could not be paid in the form of an annuity at the end of
any of the periods shown in the examples. If the amount applied to purchase an
annuity is less than $2,000, or the initial annuity payment is less than $20, we
may pay the amount to the payee in a single sum instead of as payments under an
annuity form. See "Distribution Options" in Part 6. In some cases, charges for
state premium or other taxes will be deducted from the amount applied, if
applicable.
INVESTMENT FUND PERFORMANCE - ROTH ADVANTAGE
In order to help show how the performance of Investment Funds affects Annuity
Account Values, the following tables provide a historical view of investment
performance for each of the Funds included. The performance shown has been
calculated under two methods, as explained under "How Performance Data Are
Presented" below. The information presented includes performance results along
with data representing unmanaged market indices and similarly managed funds.
Except as noted below, performance data for the Investment Funds reflect (i) the
actual historical investment results of the corresponding Portfolios of HRT or
EQAT from the date of inception of those Portfolios or certain predecessor
Portfolios or accounts, and (ii) the actual investment advisory fee, Rule 12b-1
fee, if any, and direct operating expenses of the relevant Portfolios. In
addition, for all periods, the performance data reflects the Separate Account
asset charges assessed under the Roth Advantage Contract, as if it had been
available in the periods shown.
Performance for the Alliance Money Market, Alliance Balanced, Alliance Common
Stock and Alliance Aggressive Stock Funds for the period before those Funds were
operated as a unit investment trust has been adjusted to reflect the investment
advisory fee and expense structure that became applicable to the unit investment
trust. See "The Reorganization" in the SAI for additional information.
Because amounts allocated to the Investment Funds are invested in a mutual fund,
investment return and principal will fluctuate and Accumulation Units may be
worth more or less than the original cost when redeemed. The results shown are
not an estimate or guarantee of future investment performance.
HOW PERFORMANCE DATA ARE PRESENTED
Tables 1 and 2 compare annualized and cumulative rates of return for each
Investment Fund along with appropriate benchmarks. Table 3 shows the
year-by-year rates of return for each Investment Fund. These performance results
are based on the change in the Accumulation Unit value for each Investment Fund
for the periods shown.
Investment results in Tables 1, 2, and 3 are net of all charges and expenses
assessed against the Investment Funds (including fees and expenses of the
Trusts) but exclude the annual administrative charge and any withdrawal charges
which would also reduce the actual return. Tables 4 and 5 show performance
results after giving effect to all charges and expenses including the annual
administrative charge and the contingent withdrawal
4
<PAGE>
charge. Since charges under the Contracts may vary, we have assumed, for each
charge, the highest that might apply.
Certain of the Investment Funds began operations on a date after the inception
date of the corresponding Portfolio. When we advertise the performance of an
Investment Fund we will separately set forth the performance of that Fund since
its inception date, to the extent required by regulatory authorities.
BENCHMARKS
Market indices are not subject to any charges for investment advisory fees
typically associated with a managed portfolio. Comparisons with these
benchmarks, therefore, are of limited use. We include them because they are
widely known and may help you to understand the universe of securities from
which each Portfolio manager is likely to make selections.
INCEPTION DATES AND COMPARATIVE BENCHMARKS
ALLIANCE MONEY MARKET: May 11, 1982; Salomon Brothers Three-Month T-Bill Index
(3-Month T-Bill).
ALLIANCE INTERMEDIATE GOVERNMENT SECURITIES: April 1, 1991; Lehman Intermediate
Government Bond Index (Lehman Intermediate Government).
ALLIANCE QUALITY BOND: October 1, 1993; Lehman Aggregate Bond Index (Lehman
Aggregate).
ALLIANCE HIGH YIELD: January 2, 1987; Merrill Lynch High Yield Master Index
(Master High Yield).
ALLIANCE GROWTH & INCOME: October 1, 1993; 75% Standard & Poor's 500 Index (S&P
500) and 25% Value Line Convertibles Index (75% S&P 500/25% Value Line Conv.).
ALLIANCE EQUITY INDEX: March 1, 1994; Standard & Poor's 500 Index (S&P 500).
ALLIANCE COMMON STOCK: August 1, 1968; Standard & Poor's 500 Index (S&P 500).
ALLIANCE GLOBAL: August 27, 1987; Morgan Stanley Capital International World
Index (MSCI World).
ALLIANCE INTERNATIONAL: April 3, 1995; Morgan Stanley Capital International
Europe, Australia, Far East Index (MSCI EAFE).
ALLIANCE AGGRESSIVE STOCK: May 1, 1984; 50% Russell 2000 Small Stock Index and
50% S&P MidCap Total Return (50% Russell 2000/50% S&P MidCap).
ALLIANCE SMALL CAP GROWTH: May 1, 1997; Russell 2000 Growth Index (Russell 2000
Gr).
ALLIANCE CONSERVATIVE INVESTORS: October 2, 1989; 70% Lehman Treasury Bond
Composite Index and 30% S&P 500 Index (70% Lehman Treas./30% S&P 500).
ALLIANCE BALANCED: May 1, 1984; 50% S&P 500 and 50% Lehman Government/Corporate
Bond Index (50% S&P 500/50% Lehman Corp.).
ALLIANCE GROWTH INVESTORS: October 2, 1989; 30% Lehman Government/Corporate Bond
Index and 70% S&P 500 Index (30% Lehman Treas./70% S&P 500).
T. ROWE PRICE INTERNATIONAL STOCK: May 1, 1997; Morgan Stanley Capital
International Europe, Australia, Far East Index (MSCI EAFE).
T. ROWE PRICE EQUITY INCOME: May 1, 1997; Standard & Poor's 500 Index (S&P 500).
EQ/PUTNAM GROWTH & INCOME VALUE: May 1, 1997; Standard & Poor's 500 Index (S&P
500).
EQ/PUTNAM BALANCED: May 1, 1997; 60% Standard & Poor's 500 Index and 40% Lehman
Government/Corporate Bond Index (60% S&P500/40% Lehman Corp.)
MFS RESEARCH: May 1, 1997; Standard & Poor's 500 Index (S&P 500).
MFS EMERGING GROWTH COMPANIES: May 1, 1997; Russell 2000 Index (Russell 2000).
MORGAN STANLEY EMERGING MARKETS EQUITY: August 20, 1997; Morgan Stanley Capital
International Emerging Markets Free Price Return Index (MSCI Emerging Markets).
WARBURG PINCUS SMALL COMPANY VALUE: May 1, 1997; Russell 2000 Index (Russell
2000).
MERRILL LYNCH WORLD STRATEGY: May 1, 1997; 36% S&P 500/24% MSCI EAFE/21% Salomon
Brothers US Treasury Bond 1 Year+/14% Salomon Brothers World Government Bond Ex
US/5% 3-Month U.S. T-bill-(Market Composite).
5
<PAGE>
MERRILL LYNCH BASIC VALUE EQUITY: May 1, 1997; Standard & Poor's 500 Index (S&P
500).
The Lipper Variable Insurance Products Performance Analysis Survey (Lipper)
records the performance of a large group of variable annuity and variable life
products, including managed separate accounts of insurance companies. According
to Lipper Analytical Services, Inc., the data are presented net of investment
management fees, direct operating and asset-based charges applicable under
variable insurance policies or variable annuity contracts. Lipper data provide a
more accurate picture than market indices of EQUI-VEST performance relative to
other annuity products.
All rates of return presented are time-weighted and include reinvestment of
investment income, including interest and dividends. Cumulative rates of return
reflect performance over a stated period of time. Annualized rates of return
represent the annual rate of growth that would have produced the same cumulative
return, if performance had been constant over the entire period.
6
<PAGE>
TABLE 1:
ANNUALIZED RATES OF RETURN FOR PERIODS ENDED DECEMBER 31, 1997:
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------------------------------------------------------
PORTFOLIO
SINCE INCEPTION
1 YEAR 3 YEARS 5 YEARS 10 YEARS 20 YEARS INCEPTION DATE
-----------------------------------------------------------------------------------
<S> <C>
FIXED-INCOME SERIES:
Domestic Fixed Income
ALLIANCE MONEY MARKET 5/11/82
Lipper Money Market
3-Month T-Bill
ALLIANCE INTERMEDIATE
GOVERNMENT SECURITIES 4/1/91
Lipper U.S. Government
Lehman Intermediate Government
ALLIANCE QUALITY BOND 10/1/93
Lipper Corporate Bond A-Rated
Lehman Aggregate
Aggressive Fixed Income
ALLIANCE HIGH YIELD 1/2/87
Lipper High Yield
Master High Yield
EQUITY SERIES:
Domestic Equity
T. ROWE PRICE EQUITY INCOME 5/1/97
Lipper Equity Income
S&P 500
EQ/PUTNAM
GROWTH & INCOME VALUE 5/1/97
Lipper Growth & Income
S&P 500
ALLIANCE GROWTH & INCOME 10/1/93
Lipper Growth
25% Value Line Conv./75% S&P 500
ALLIANCE EQUITY INDEX 3/1/94
Lipper S&P 500 Index Funds
S&P 500
MERRILL LYNCH
BASIC VALUE EQUITY 5/1/97
Lipper Growth & Income
S&P 500
ALLIANCE COMMON STOCK 8/1/68
Lipper Growth
S&P 500
MFS RESEARCH 5/1/97
Lipper Growth
S&P 500
International Equity
ALLIANCE GLOBAL 8/27/87
Lipper Global
MSCI World
ALLIANCE INTERNATIONAL 4/3/95
Lipper International
MSCI EAFE
T. ROWE PRICE
INTERNATIONAL STOCK 5/1/97
Lipper International
MSCI EAFE
MORGAN STANLEY EMERGING
MARKETS EQUITY 8/20/97
Lipper Emerging Markets
MSCI Emerging Markets
- -------------------------------------------------------------------------------------------------------------------------------
<FN>
+ Return for this Fund is unannualized and represents 8 months of performance. This table continues on next page
* Return for this Fund is unannualized and represents 5 months of performance.
</FN>
</TABLE>
7
<PAGE>
TABLE 1:
ANNUALIZED RATES OF RETURN (CONTINUED):
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------------------------------------------------------
PORTFOLIO
SINCE INCEPTION
1 YEAR 3 YEARS 5 YEARS 10 YEARS 20 YEARS INCEPTION DATE
-----------------------------------------------------------------------------------
<S> <C>
EQUITY SERIES (CONTINUED):
Aggressive Equity
ALLIANCE AGGRESSIVE STOCK 5/1/84
Lipper Mid-Cap Growth
50% Russell 2000/50% S&P Mid-Cap
WARBURG PINCUS
SMALL COMPANY VALUE 5/1/97
Lipper Small-Cap
Russell 2000 Growth
ALLIANCE SMALL CAP GROWTH 5/1/97
Lipper Small-Cap
Russell 2000 Growth
MFS EMERGING GROWTH 5/1/97
COMPANIES
Lipper Mid-Cap
Russell 2000
ASSET ALLOCATION SERIES:
ALLIANCE CONSERVATIVE INVESTORS 10/2/89
Lipper Income
70% Lehman Treas./30% S&P 500
EQ/PUTNAM BALANCED 5/1/97
Lipper Balanced
40% Lehman Gov't./Corp./60% S&P 500
ALLIANCE BALANCED 5/1/84
Lipper Flexible Portfolio
50% Lehman Gov't./Corp./70% S&P 500
ALLIANCE GROWTH INVESTORS 10/2/89
Lipper Flexible Portfolio
30% Lehman Gov't./Corp./70% S&P 500
MERRILL LYNCH WORLD STRATEGY 5/1/97
Lipper Global Flexible Portfolio --
Market Composite --
- -------------------------------------------------------------------------------------------------------------------------------
</TABLE>
+ Return for this Fund is unannualized and represents 8 months of performance.
* Return for this Fund is unannualized and represents 5 months of performance.
8
<PAGE>
TABLE 2:
CUMULATIVE RATES OF RETURN FOR PERIODS ENDED DECEMBER 31, 1997:
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------------------------------------------------------
PORTFOLIO
SINCE INCEPTION
1 YEAR 3 YEARS 5 YEARS 10 YEARS 20 YEARS INCEPTION DATE
-----------------------------------------------------------------------------------
<S> <C>
FIXED-INCOME SERIES:
Domestic Fixed Income
ALLIANCE MONEY MARKET 5/11/82
Lipper Money Market
3-Month T-Bill
ALLIANCE INTERMEDIATE
GOVERNMENT SECURITIES 4/1/91
Lipper U.S. Government
Lehman Intermediate Government
ALLIANCE QUALITY BOND 10/1/93
Lipper Corporate Bond A-Rated
Lehman Aggregate
Aggressive Fixed Income
ALLIANCE HIGH YIELD 1/2/87
Lipper High Yield
Master High Yield
EQUITY SERIES:
Domestic Equity
T. ROWE PRICE EQUITY INCOME 5/1/97
Lipper Equity Income
S&P 500
EQ/PUTNAM
GROWTH & INCOME VALUE 5/1/97
Lipper Growth & Income
S&P 500
ALLIANCE GROWTH & INCOME 10/1/93
Lipper Growth & Income
25% Value Line Conv./75% S&P 500
ALLIANCE EQUITY INDEX 3/1/94
Lipper S&P 500 Index Funds
S&P 500
MERRILL LYNCH BASIC VALUE EQUITY 5/1/97
Lipper Growth & Income
S&P 500
ALLIANCE COMMON STOCK 8/1/68
Lipper Growth
S&P 500
MFS RESEARCH 5/1/97
Lipper Growth
S&P 500
International Equity
ALLIANCE GLOBAL 8/27/87
Lipper Global
MSCI World
ALLIANCE INTERNATIONAL 4/3/95
Lipper International
MSCI EAFE
T. ROWE PRICE
INTERNATIONAL STOCK 5/1/97
Lipper International
MSCI EAFE
MORGAN STANLEY EMERGING
MARKETS EQUITY 8/20/97
Lipper Emerging Markets
MSCI Emerging Market
- -------------------------------------------------------------------------------------------------------------------------------
</TABLE>
9
<PAGE>
TABLE 2: CUMULATIVE RATES OF RETURN (CONTINUED):
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------------------------------------------------------
PORTFOLIO
SINCE INCEPTION
1 YEAR 3 YEARS 5 YEARS 10 YEARS 20 YEARS INCEPTION DATE
-----------------------------------------------------------------------------------
<S> <C>
EQUITY SERIES (CONTINUED):
Aggressive Equity
ALLIANCE AGGRESSIVE STOCK 5/1/84
Lipper Mid-Cap Growth
50% Russell 2000/50% S&P Mid-Cap
WARBURG PINCUS
SMALL COMPANY VALUE 5/1/97
Lipper Small-Cap
Russell 2000
ALLIANCE SMALL CAP GROWTH 5/1/97
Lipper Small-Cap
Russell 2000 Growth
MFS EMERGING GROWTH COMPANIES 5/1/97
Lipper Mid-Cap
Russell 2000
ASSET ALLOCATION SERIES:
ALLIANCE CONSERVATIVE INVESTORS 10/2/89
Lipper Income
70% Lehman Treas./30% S&P 500
EQ/PUTNAM BALANCED 5/1/97
Lipper Balanced
40% Lehman Gov't./Corp./60% S&P 500
ALLIANCE BALANCED 5/1/84
Lipper Flexible Portfolio
50% Lehman Gov't./Corp./70% S&P 500
ALLIANCE GROWTH INVESTORS 10/2/89
Lipper Flexible Portfolio
30% Lehman Gov't./Corp./70% S&P 500
MERRILL LYNCH WORLD STRATEGY 5/1/97
Lipper Global Flexible Portfolio
Market Composite
- -------------------------------------------------------------------------------------------------------------------------------
</TABLE>
10
<PAGE>
TABLE 3:
YEAR-BY-YEAR RATES OF RETURN
<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------------------------------------------------------
1988 1989 1990 1991 1992 1993 1994 1995 1996 1997
--------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ALLIANCE MONEY MARKET
ALLIANCE INTERMEDIATE GOVERNMENT
SECURITIES
ALLIANCE QUALITY BOND
ALLIANCE HIGH YIELD
ALLIANCE GROWTH & INCOME
ALLIANCE EQUITY INDEX
ALLIANCE COMMON STOCK
ALLIANCE GLOBAL
ALLIANCE INTERNATIONAL
ALLIANCE AGGRESSIVE STOCK
ALLIANCE SMALL CAP GROWTH
ALLIANCE CONSERVATIVE INVESTORS
ALLIANCE BALANCED
ALLIANCE GROWTH INVESTORS
T. ROWE PRICE INTERNATIONAL STOCK
PORTFOLIO
T. ROWE PRICE EQUITY INCOME
PORTFOLIO
EQ/PUTNAM GROWTH & INCOME VALUE
PORTFOLIO
EQ/PUTNAM BALANCED PORTFOLIO
MFS RESEARCH PORTFOLIO
MFS EMERGING GROWTH COMPANIES
PORTFOLIO
MORGAN STANLEY EMERGING MARKETS
EQUITY PORTFOLIO
WARBURG PINCUS SMALL COMPANY VALUE
PORTFOLIO
MERRILL LYNCH WORLD STRATEGY
PORTFOLIO
MERRILL LYNCH BASIC VALUE EQUITY
PORTFOLIO
<FN>
- -------------------
* Unannualized
</FN>
- --------------------------------------------------------------------------------------------------------------------------------
</TABLE>
11
<PAGE>
The performance data in Tables 4 and 5 illustrate the growth of an investment,
and the average annual total return of the Investment Funds, respectively, over
the periods shown assuming a single initial contribution of $1,000 and
termination of the Roth Advantage Contract at the end of each period on December
31, 1997, under circumstances in which the contingent withdrawal charge applies.
The values shown are also net of all other charges and expenses assessed against
the Investment Funds. An Investment Fund's average annual total return is the
annual rate of growth of the Investment Fund that would be necessary to achieve
the ending value of a contribution kept in the Investment Fund for the period
specified.
Each calculation further assumes that the $1,000 contribution was allocated to
only one Investment Fund, no transfers or additional contributions were made, no
loans, and no amounts were allocated to any other Investment Fund under the
Contract.
In order to calculate the performance information, we divide the termination
value (defined below) of a Contract which is terminated on December 31, 1997 by
the $1,000 investment made at the beginning of each period illustrated. The
result of that calculation is the total growth rate for the period. Then we
annualize that growth rate to obtain the average annual percentage increase
(decrease) during the period shown. When we "annualize," we assume that a single
rate of return applied each year during the period will produce the ending
value, taking into account the effect of compounding. "Termination value" means
the Annuity Account Value less the contingent withdrawal charge, the annual
administrative charge and all other charges and expenses which are applied
against an Investment Fund. See "Part 7: Deductions and Charges" in the
Prospectus.
12
<PAGE>
TABLE 4:
GROWTH OF $1,000 FOR CONTRACTS TERMINATED ON DECEMBER 31, 1997:
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------------------------------------------------------
LENGTH OF INVESTMENT PERIOD
--------------------------------------------------------------------------------------
INVESTMENT ONE THREE FIVE TEN SINCE PORTFOLIO
FUND YEAR YEARS YEARS YEARS INCEPTION*
- -------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Alliance Money Market
Alliance Intermediate Government
Securities
Alliance Quality Bond
Alliance High Yield
Alliance Growth & Income
Alliance Equity Index
Alliance Common Stock
Alliance Global
Alliance International
Alliance Aggressive Stock
Alliance Small Cap Growth
Alliance Conservative Investors
Alliance Balanced
Alliance Growth Investors
T. Rowe Price International Stock
Portfolio
T. Rowe Price Equity Income Portfolio
E/Q Putnam Growth &
Income Value Portfolio
E/Q Putnam Balanced Portfolio
MFS Research Portfolio
MFS Emerging Growth Companies Portfolio
Morgan Stanley Emerging Markets Equity
Portfolio
Warburg Pincus Small Company Value
Portfolio
Merrill Lynch World Strategy Portfolio
Merrill Lynch Basic Value Equity
Portfolio
- -------------------------------------------------------------------------------------------------------------------------------
</TABLE>
* Portfolio inception dates are shown in Tables 1 and 2.
13
<PAGE>
TABLE 5:
AVERAGE ANNUAL TOTAL RETURN UNDER CONTRACTS TERMINATED ON DECEMBER 31, 1997:
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------------------------------------------------------
LENGTH OF INVESTMENT PERIOD
--------------------------------------------------------------------------------------
INVESTMENT SINCE
FUND ONE THREE FIVE TEN SINCE FUND PORTFOLIO
YEAR YEARS YEARS YEARS INCEPTION* INCEPTION**
- -------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Alliance Money Market
Alliance Intermediate Government
Securities
Alliance Quality Bond
Alliance High Yield
Alliance Growth & Income
Alliance Equity Index
Alliance Common Stock
Alliance Global
Alliance International
Alliance Aggressive Stock
Alliance Small Cap Growth
Alliance Conservative Investors
Alliance Balanced
Alliance Growth Investors
T. Rowe Price International Stock
Portfolio
T. Rowe Price Equity Income Portfolio
E/Q Putnam Growth &
Income Value Portfolio
E/Q Putnam Balanced Portfolio
MFS Research Portfolio
MFS Emerging Growth Companies Portfolio
Morgan Stanley Emerging Markets Equity
Portfolio
Warburg Pincus Small Company Value
Portfolio
Merrill Lynch World Strategy Portfolio
Merrill Lynch Basic Value Equity
Portfolio
<FN>
- -------------------
* Fund inception dates are: Alliance Money Market (5/11/82), Alliance
Intermediate Government Securities (6/1/94), Alliance Quality Bond (1/4/94),
Alliance High Yield (1/4/94), Alliance Growth & Income (1/4/94), Alliance
Equity Index (6/1/94), Alliance Common Stock (8/27/81), Alliance Global
(1/4/94), Alliance International (9/1/95), Alliance Growth Investors
(1/4/94), Alliance Aggressive Stock (5/1/84), Alliance Small Cap Growth
(6/2/97), Alliance Conservative Investors (1/4/94), Alliance Balanced
(5/1/84), T. Rowe Price International Stock (6/2/97), T. Rowe Price Equity
Income (6/2/97), EQ/Putnam Growth & Income Value (6/2/97), EQ/Putnam Balanced
(6/2/97), MFS Research (6/2/97), MFS Emerging Growth Companies (6/2/97),
Morgan Stanley Emerging Markets Equity (8/20/97), Warburg Pincus Small
Company Value (6/2/97), Merrill Lynch World Strategy (6/2/97), Merrill Lynch
Basic Value Equity (6/2/97).
** Portfolio inception dates are shown in Tables 1 and 2.
</FN>
- -------------------------------------------------------------------------------------------------------------------------------
</TABLE>
14
<PAGE>
COMMUNICATING PERFORMANCE DATA
In reports or other communications or in advertising material, we may describe
general economic and market conditions affecting the Separate Account and HRT or
EQAT and may present the performance of the Investment Funds or compare it with
(1) that of other insurance company separate accounts or mutual funds included
in the rankings prepared by Lipper Analytical Services, Inc., Morningstar Inc.,
VARDS or similar investment services that monitor the performance of insurance
company separate accounts or mutual funds, (2) other appropriate indices of
investment securities and averages for peer universes of funds which are
described elsewhere in this prospectus, or (3) data developed by us derived from
such indices or averages. The Morningstar Variable Annuity/Life Report consists
of over 700 variable life and annuity funds, all of which report their data net
of investment management fees, direct operating expenses and separate account
charges. VARDS is a monthly reporting service that monitors over 2,500 variable
life and variable annuity funds on performance and account information.
Advertisements or other communications furnished to present or prospective
Contract Owners may also include evaluations of an Investment Fund or Portfolio
by financial publications that are nationally recognized such as Barron's,
Morningstar's Variable Annuity Sourcebook, Business Week, Chicago Tribune,
Forbes, Fortune, Institutional Investor, Investment Adviser, Investment Dealer's
Digest, Investment Management Weekly, Los Angeles Times, Money, Money Management
Letter, Kiplinger's Personal Finance, Financial Planning, National Underwriter,
Pension & Investments, USA Today, Investor's Daily, The New York Times and The
Wall Street Journal.
WITH RESPECT TO EQUI-VEST ROTH ADVANTAGE, THE FOLLOWING DISCUSSION REPLACES THE
DISCUSSION UNDER "CHARGES TO INVESTMENT FUNDS" ON PAGE 56 OF THE PROSPECTUS:
We make a daily charge at the effective annual rate of 1.45% against
the assets held in each of the Investment Funds. This charge is
reflected in the Accumulation Unit Values for the particular Investment
Fund and covers mortality and expense risk charges of 1.20% and
expenses of 0.25%.
The mortality and expense risk and death benefit charge is comprised of
0.65% for mortality risk, including guaranteed death benefits, and
0.55% for expense risk, although the allocation of these charges may
vary. We assume a mortality risk by (a) our obligation to pay a death
benefit that will not be less than the total value of all contributions
made (less any applicable taxes) adjusted for total withdrawals, (b)
our obligation to make annuity payments for the life of the Annuitant
under guaranteed fixed annuity options, regardless of the Annuitant's
longevity, (c) our guarantees relating to annuity purchase rates, the
actuarial basis for which can be changed only for new contributions and
only on the fifth anniversary of the Contract Date and every five years
thereafter, and (d) our obligation to waive the contingent withdrawal
charge upon the payment of a death benefit.
The expense risk we assume is the risk that, over time, our actual
expense of administering the Contracts, including financial accounting,
may exceed the amounts realized from the expense charge and the annual
administrative expense charge. Part of the mortality and expense risk
charge may be considered to be an indirect reimbursement for certain
sales and promotional expenses relating to the Contracts to the extent
that the charge is not needed to meet the actual expenses incurred.
The charge for expenses, together with the annual administrative charge
described below, is designed to reimburse us for our costs in providing
administrative services in connection with the Contracts.
Maximum Total Separate Account Charges
We may change the annual rate of the daily asset charge imposed on the
amounts held in the Investment Funds comprising the Separate Account.
We may increase or decrease the 1.45% total Separate Account charge
currently applicable, but may not increase the total charge above a
maximum annual rate of 2.00%. Any increase would only be made upon
advance notice to you and would apply only to contributions made after
the date of the change. Changes, if any, would reflect differences in
costs and anticipated mortality and expense expenses, and would not be
unfairly discriminatory.
15
<PAGE>
THE FOLLOWING SENTENCE REPLACES THE FIRST SENTENCE OF THE THIRD PARAGRAPH OF THE
DISCUSSION UNDER "CONTINGENT WITHDRAWAL CHARGE" ON PAGE 57 OF THE PROSPECTUS:
We reserve the right to change the amount of the contingent withdrawal
charge, provided that it will not exceed 8% of the amount deemed
attributable to withdrawn contributions.
THE FOLLOWING IS ADDED AT THE END OF THE DISCUSSION UNDER "CONTINGENT WITHDRAWAL
CHARGE - EXCEPTIONS TO THE CONTINGENT WITHDRAWAL CHARGE" ON PAGE 57 OF THE
PROSPECTUS:
Additionally, a withdrawal charge will not apply to a Roth Advantage
Contract upon any of the following events:
o the Annuitant has completed at least five Contract Years and has
attained age 59 1/2;
o during any Contract Year in which the amount withdrawn is less than
or equal to 25% of the Annuity Account Value at the time the
withdrawal is requested minus any amount previously withdrawn
during that Contract Year, provided that the withdrawal is used to
pay specified higher education expenses as defined in the Code and
subject to receipt of evidence satisfactory to us that such
withdrawal is in fact for such purpose;
o the Annuitant has completed at least five Contract Years, and the
withdrawal, up to a $10,000 maximum, is a "qualified first-time
homebuyer distribution" (as defined in the Code), subject to
receipt of evidence satisfactory to us that such withdrawal is in
fact for such purpose; or
o a request is made for a refund of a contribution in excess of
amounts allowed to be contributed under the Code within one month
of the date on which the contribution is made.
59002
16
<PAGE>
FLKS DRAFT : June 4, 1998
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
SUPPLEMENT DATED JULY ___, 1998
TO
EQUI-VEST(R) PROSPECTUS
DATED MAY 1, 1998
TSA ADVANTAGE(SM)
This Supplement adds to and modifies certain information contained in the
prospectus dated May 1, 1998 ("Prospectus") for EQUI-VEST group and individual
deferred variable annuity contracts offered by Equitable Life. Equitable Life
will offer its EQUI-VEST Series 600 TSA Advantage contracts ("Series 600" or
"TSA Advantage Contract") only to employees of educational organizations
described in Internal Revenue Code (Code) Section 170(b)(1)(A)(ii) or hospitals
which are administered by, and/or are part of a State, a political subdivision
of a State, or an agency or instrumentality of any one or more of the foregoing,
and non-profit organizations, including churches. The foregoing entities must
maintain plans that meet the requirements of Code Section 403(b), referred to as
a "403(b) Plan," and must currently have, or within the first Contract Year
expect to have, at least 50 participants. The TSA plans may or may not be
subject to ERISA. Under the TSA Advantage Contract, contributions, including
rollover contributions and direct transfer contributions from existing 403(b)
plans (programs or arrangements) will be accepted only if the contributions are
fully vested under the existing TSA plan. The TSA Advantage Contract may not
currently be available in your state. Your Equitable Life Representative can
provide information about state availability.
The EQUI-VEST TSA Advantage Contract is offered to purchasers on the same basis
and under the same terms and conditions described in the Prospectus as
applicable to the EQUI-VEST TSA Series 100 and 200 contracts, except for certain
material differences described in this Supplement. Capitalized terms in this
Supplement not otherwise defined have the same meaning as in the Prospectus.
Material differences between the TSA Advantage Contract and the provisions of
the EQUI-VEST TSA Series 100 and 200 contracts described in the EQUI-VEST
Prospectus include the following:
THE FOLLOWING PARAGRAPH IS ADDED AFTER "EQUI-VEST EMPLOYER-SPONSORED RETIREMENT
PROGRAMS - UNIVERSITY TSA" ON PAGE 8 OF THE PROSPECTUS:
o TSA ADVANTAGE
A TSA for educational organizations, hospitals and other non-profit
entities organized under Code Section 501(c)(3) as well as churches.
Contributions are made by the employer either directly or through a salary
reduction agreement entered into with the employee. Each employee is the
Contract Owner and must also be the Annuitant. Available only to employees of
employers described above maintaining 403(b) plans that currently have, or
within the first Contract Year are expected to have, at least 50 participants.
Unless otherwise noted, references to TSA Contracts include TSA Advantage
Contracts.
THE FOLLOWING TWO SENTENCES REPLACE THE SECOND SENTENCE OF THE FIRST PARAGRAPH
UNDER "INVESTMENT OPTIONS" ON PAGE 9 OF THE PROSPECTUS:
Each Investment Fund invests in shares of a corresponding Portfolio of
either HRT (Class IA or Class IB) or EQAT (Class IB), respectively. The Class IA
shares and Class IB shares of HRT are identical, except for the 12b-1
distribution plan and related fees applicable to the Class IB shares. Under the
TSA Advantage contracts, the Investment Funds purchase Class IB shares of HRT
and EQAT.
THE FOLLOWING TABLE AND EXAMPLES ARE ADDED AFTER "TABLE 3: EQUI-VEST: SERIES 300
AND 400 -- ACCUMULATION UNIT VALUES" ON PAGE 23 OF THE PROSPECTUS:
TABLE 4: EQUI-VEST SERIES 600
The following Tables apply to the Series 600 TSA Advantage Contracts. These
Tables, and the related Examples, will assist you in understanding the various
costs and expenses under the Series 600 Contract so that you may compare them
with other products. Except as described in [Notes 5 and 7] below, the Tables
reflect expenses of the applicable Trust for the year ended December 31, 1997.
<PAGE>
A charge for applicable state or local taxes may be deducted from contributions
in some states. See "Charges for State Premium and Other Applicable Taxes" in
Part 7.
As explained in Parts 4 and 5, the Guaranteed Interest Account is not a part of
the Separate Account and is not covered by the following Tables and Examples.
The only expenses shown in the Tables which apply to the Guaranteed Interest
Account are the contingent withdrawal charge, the annual administrative charge
and, if imposed at a later date, the third party transfer or exchange Fee. Also
see "Income Annuity Distribution Options" in Part 6 for the description of an
administrative charge which may apply when you annuitize.
Description of Expenses
- --------------------------
CONTRACT OWNER TRANSACTION EXPENSES
SALES LOAD ON PURCHASES .......................................... NONE
MAXIMUM CONTINGENT WITHDRAWAL CHARGE (1) ......................... 6%
MAXIMUM/CURRENT ANNUAL ADMINISTRATIVE CHARGE (2) ................. $65/30
THIRD PARTY TRANSFER OR EXCHANGE FEE (3) ......................... NONE
SEPARATE ACCOUNT ANNUAL EXPENSES(4)
Mortality and Expense Risk Fees (including Death Benefit Charges). .95%
Other Expenses ................................................... .25%
========
Total Separate Account Annual Expenses ......................... 1.20%
========
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------------------------------------------------------
ALLIANCE
ALLIANCE INTERMEDIATE ALLIANCE ALLIANCE ALLIANCE ALLIANCE
MONEY GOVERNMENT QUALITY ALLIANCE GROWTH EQUITY COMMON
MARKET SECURITIES BOND HIGH YIELD & INCOME INDEX STOCK
--------------------------------------------------------------------------------------
HRT ANNUAL EXPENSES
<S> <C> <C> <C> <C> <C> <C> <C>
Investment Advisory Fees .35% .50% .53% .60% .55% .32% .37%
Rule 12b-1 fee(7) .25% .25% .25% .25% .25% .25% .25%
Other Expenses .04% .06% .05% .04% .04% .04% .03%
- -------------------------------------------------------------------------------------------------------------------------------
Total HRT Annual Expenses (5)(6) .64% .81% .83% .89% .84% .61% .65%
- -------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
- -------------------------------------------------------------------------------------------------------------------------------
ALLIANCE ALLIANCE ALLIANCE ALLIANCE
ALLIANCE ALLIANCE AGGRESSIVE SMALL CAP CONSERVATIVE ALLIANCE GROWTH
GLOBAL INTERNATIONAL STOCK GROWTH INVESTORS BALANCED INVESTORS
--------------------------------------------------------------------------------------
HRT ANNUAL EXPENSES
<S> <C> <C> <C> <C> <C> <C> <C>
Investment Advisory Fees .65% .90% .54% .90% .48% .42% .52%
Rule 12b-1 fee(7) .25% .25% .25% .25% .25% .25% .25%
Other Expenses .08% .18% .03% .05% .07% .05% .05%
- -------------------------------------------------------------------------------------------------------------------------------
Total HRT Annual Expenses (5)(6) .98% 1.33% .82% 1.20% .80% .72% .82%
- -------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
- -------------------------------------------------------------------------------------------------------------------------------
EQ/PUTNAM GROWTH
T. ROWE PRICE T. ROWE PRICE & EQ/ PUTNAM
INTERNATIONAL EQUITY INCOME INCOME VALUE BALANCED MFS RESEARCH
STOCK PORTFOLIO PORTFOLIO PORTFOLIO PORTFOLIO PORTFOLIO
--------------------------------------------------------------------------------------
EQAT Annual Expenses
<S> <C> <C> <C> <C> <C>
Investment Management and
Advisory Fee .75% .55% .55% .55% .55%
Rule 12b-1 fee(7) .25% .25% .25% .25% .25%
Other Expenses .20% .05% .05% .10% .05%
- -------------------------------------------------------------------------------------------------------------------------------
Total EQAT Annual Expenses (8) 1.20% .85% .85% .90% .85%
- -------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
- -------------------------------------------------------------------------------------------------------------------------------
MORGAN STANLEY
MFS EMERGING EMERGING MARKETS WARBURG PINCUS MERRILL LYNCH MERRILL LYNCH
GROWTH COM- EQUITY PORTFOLIO SMALL COMPANY WORLD STRATEGY BASIC VALUE
PANIES PORTFOLIO VALUE PORTFOLIO PORTFOLIO EQUITY PORTFOLIO
--------------------------------------------------------------------------------------
EQAT Annual Expenses
<S> <C> <C> <C> <C> <C>
Investment Management and
Advisory Fee .55% 1.15% .65% .70% .55%
Rule 12b-1 Fee(7) .25% .25% .25% .25% .25%
Other Expenses .05% .35% .10% .25% .05%
- -------------------------------------------------------------------------------------------------------------------------------
Total EQAT Annual Expenses (8) .85% 1.75% 1.00% 1.20% .85%
- -------------------------------------------------------------------------------------------------------------------------------
</TABLE>
2
<PAGE>
- -------------------
Notes:
(1) The contingent withdrawal charge is a percentage of amounts withdrawn from
the Contract or defaulted loan amounts. See "Contingent Withdrawal Charge"
in the addition to Part 7 of the Prospectus set forth below in this
Supplement. Important exceptions and limitations may eliminate or reduce the
contingent withdrawal charge.
(2) The annual administrative charge is the lesser of $30 or 2% of the Annuity
Account Value (adjusted to include any withdrawals made during that year).
See "Annual Administrative Charge" in the addition to Part 7 of the
Prospectus set forth below in this Supplement. We reserve the right to
increase this fee in the future if our administrative costs increase, but
such fee may not exceed an annual maximum of $65, subject to applicable law.
(3) There currently is no Third Party Transfer or Exchange Fee. However, we
reserve the right to impose this fee in the future, but the fee may not
exceed a maximum of $65 per occurrence, subject to applicable law.
(4) The total charge for Separate Account annual expenses is subject to change,
but may not exceed the effective annual rate of 2.00%. See "Charges to
Investment Funds" in the addition to Part 7 of the Prospectus set forth
below in this Supplement.
(5) Effective May 1, 1997, a new Investment Advisory Agreement was entered into
between HRT and Alliance Capital Management L.P., HRT's Investment Adviser,
which effected changes in HRT's management fee and expense structure. See
HRT's prospectus for more information.
The tables above reflecting HRT's expenses are based on average portfolio
net assets for the year ended December 31, 1997 and have been restated to
reflect (i) the fees that would have been paid to Alliance if the current
advisory agreement had been in effect as of January 1, 1997 and (ii)
estimated accounting expenses for the year ending December 31, 1997.
(6) The investment advisory fee for each Portfolio may vary from year to year
depending upon the average daily net assets of the respective Portfolio of
HRT. The maximum investment advisory fee, however, cannot be increased
without a vote of that Portfolio's shareholders. The other direct operating
expenses will also fluctuate from year to year depending on actual expenses.
HRT's expenses are shown as a percentage of each Portfolio's average
portfolio net assets. See "Charges to Portfolios" in Part 7.
(7) The Class IB shares of HRT and EQAT are subject to fees imposed under
distribution plans (herein, the "Rule 12b-1 Plans" ) adopted by HRT and EQAT
pursuant to Rule 12b-1 under the Investment Company Act of 1940, as amended.
The Rule 12b-1 Plans provide that HRT and EQAT, on behalf of each Portfolio,
may charge annually up to 0.25% of the average daily net assets of a
Portfolio attributable to its Class IB shares in respect of activities
primarily intended to result in the sale of the Class IB shares. The 12b-1
fee will not be increased for the life of the Contracts.
(8) All EQAT Portfolios commenced operations on May 1, 1997 except the Morgan
Stanley Emerging Markets Equity Portfolio, which commenced operations on
August 20, 1997.
The maximum investment management and advisory fees for each EQAT Portfolio
cannot be increased without a vote of that Portfolio's shareholders. The
amounts shown as "Other Expenses" will fluctuate from year to year depending
on actual expenses; however, EQ Financial Consultants, Inc. ("EQ
Financial"), EQAT's manager, has entered into an expense limitation
agreement with respect to each Portfolio ("Expense Limitation Agreement"),
pursuant to which EQ Financial has agreed to waive or limit its fees and
assume other expenses. Under the Expense Limitation Agreement, total annual
operating expenses of each Portfolio (other than interest, taxes, brokerage
commissions, capitalized expenditures, extraordinary expenses and 12b-1
fees) are limited for the respective average daily net assets of each
Portfolio as follows: 0.60% for Merrill Lynch Basic Value Equity, MFS
Research, MFS Emerging Growth Companies, EQ/Putnam Growth & Income Value and
T. Rowe Price Equity Income; 0.65% for EQ/Putnam Balanced; 0.75% for Warburg
Pincus Small Company Value; 0.95% for Merrill Lynch World Strategy and T.
Rowe Price International Stock; and 1.50% for Morgan Stanley Emerging
Markets Equity.
Absent the expense limitation, "Other Expenses" for 1997 on an annualized
basis for each of the Portfolios would have been as follows: 0.80% for
Warburg Pincus Small Company Value; 0.94% for T. Rowe Price Equity Income;
0.95% for EQ/Putnam Growth & Income Value; 0.98% for MFS Research; 1.02% for
MFS Emerging Growth Companies; 1.09% for Merrill Lynch Basic Value Equity;
1.21% for Morgan Stanley Emerging Markets Equity; 1.56% for T. Rowe Price
International Stock; 1.75% for EQ/Putnam Balanced; and 2.10% for Merrill
Lynch World Strategy.
Each Portfolio may at a later date make a reimbursement to EQ Financial for
any of the management fees waived or limited and other expenses assumed and
paid by EQ Financial pursuant to the Expense Limitation Agreement provided,
that among other things, such Portfolio has reached sufficient size to
permit such reimbursement to be made and provided that the Portfolio's
current annual operating expenses do not exceed the operating expense limit
determined for such Portfolio. See the EQAT prospectus for more information.
3
<PAGE>
EXAMPLES: EQUI-VEST SERIES 600
The examples which follow show the expenses that a hypothetical Contract Owner
of a Series 600 TSA Advantage Contract would pay in the surrender and
nonsurrender situations noted below, assuming a single contribution of $1,000 on
the Contract Date invested in one of the Investment Funds listed and a 5% annual
return on assets and no waiver of the contingent withdrawal charge. For purposes
of these examples, the annual administrative charge is computed by reference to
the actual aggregate annual administrative charges as a percentage of the total
assets held under all EQUI-VEST Contracts.
These examples should not be considered a representation of past or future
expenses for each Investment Fund or Portfolio. Actual expenses may be greater
or less than those shown. Similarly, the annual rate of return assumed in the
examples is not an estimate or guarantee of future investment performance.
IF YOU SURRENDER YOUR CONTRACT AT THE END OF EACH PERIOD SHOWN, THE EXPENSE
WOULD BE:
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
INVESTMENT FUND 1 YEAR 3 YEARS
---------------
---------------------------------
<S> <C> <C>
Alliance Money Market $75.63 $120.87
Alliance Intermediate Government Securities 77.32 125.96
Alliance Quality Bond 77.52 125.55
Alliance High Yield 78.12 128.34
Alliance Growth & Income 77.62 126.85
Alliance Equity Index 75.34 119.97
Alliance Common Stock 75.73 121.17
Alliance Global 79.01 131.03
Alliance International 82.48 141.41
Alliance Aggressive Stock 77.42 126.25
Alliance Small Cap Growth 81.19 137.56
Alliance Conservative Investors 77.22 125.66
Alliance Balanced 78.43 123.26
Alliance Growth Investors 77.42 126.25
T. Rowe Price International Stock Portfolio 81.19 137.56
T. Rowe Price Equity Income Portfolio 77.72 127.15
EQ/Putnam Growth & Income Value Portfolio 77.72 127.15
EQ/Putnam Balanced Portfolio 78.21 128.64
MFS Research Portfolio 77.72 127.15
MFS Emerging Growth Companies Portfolio 77.72 127.15
Morgan Stanley Emerging Markets Equity Portfolio 86.65 153.76
Warburg Pincus Small Company Value Portfolio 79.21 131.62
Merrill Lynch World Strategy Portfolio 81.19 137.56
Merrill Lynch Basic Value Equity Portfolio 77.72 127.15
- -----------------------------------------------------------------------------------------------
</TABLE>
IF YOU DO NOT SURRENDER YOUR CONTRACT AT THE END OF EACH PERIOD SHOWN, THE
EXPENSE WOULD BE:
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
INVESTMENT FUND 1 YEAR 3 YEARS
---------------------------------
<S> <C> <C>
Alliance Money Market $20.01 $61.86
Alliance Intermediate Government Securities 21.80 67.26
Alliance Quality Bond 22.01 67.89
Alliance High Yield 22.64 69.79
Alliance Growth & Income 22.11 58.21
Alliance Equity Index 19.70 60.91
Alliance Common Stock 20.12 62.18
Alliance Global 23.68 72.63
Alliance International 27.25 83.64
Alliance Aggressive Stock 21.90 67.57
Alliance Small Cap Growth 25.89 79.58
Alliance Conservative Investors 21.69 66.94
Alliance Balanced 20.85 64.40
Alliance Growth Investors 21.90 67.57
T. Rowe Price International Stock Portfolio 25.89 79.56
T. Rowe Price Equity Income Portfolio 22.22 68.52
EQ/Putnam Growth & Income Value Portfolio 22.22 68.52
EQ/Putnam Balanced Portfolio 22.74 70.11
MFS Research Portfolio 22.22 68.52
MFS Emerging Growth Companies Portfolio 22.22 68.52
Morgan Stanley Emerging Markets Equity Portfolio 31.66 96.74
Warburg Pincus Small Company Value Portfolio 23.79 73.26
Merrill Lynch World Strategy Portfolio 25.89 79.56
Merrill Lynch Basic Value Equity Portfolio 22.22 68.52
</TABLE>
- -------------------
4
<PAGE>
The amount accumulated could not be paid in the form of an annuity at the end of
any of the periods shown in the examples. If the amount applied to purchase an
annuity is less than $2,000, or the initial annuity payment is less than $20, we
may pay the amount to the payee in a single sum instead of as payments under an
annuity form. See "Distribution Options" in Part 6. In some cases, charges for
state premium or other taxes will be deducted from the amount applied, if
applicable.
Accumulation Unit Values
No Accumulation Unit Values for any of the Investment Funds offered under the
Series 600 TSA Advantage Contract are included as the Contracts were not offered
prior to the date of this Prospectus.
THE FOLLOWING INVESTMENT FUND PERFORMANCE INFORMATION RELATES TO THE TSA
ADVANTAGE AND IS SEPARATE FROM THE INVESTMENT FUND PERFORMANCE DATA SHOWN UNDER
"PART 3. INVESTMENT PERFORMANCE" BEGINNING ON PAGE 30 OF THE PROSPECTUS.
INVESTMENT FUND PERFORMANCE - TSA ADVANTAGE
In order to help show how the performance of Investment Funds affects Annuity
Account Values, the following tables provide a historical view of investment
performance for each of the Funds included. The performance shown has been
calculated under two methods, as explained under "How Performance Data Are
Presented" below. The information presented includes performance results along
with data representing unmanaged market indices and similarly managed funds.
Except as noted below, performance data for the Investment Funds reflect (i) the
actual historical investment results of the corresponding Portfolios of HRT or
EQAT from the date of inception of those Portfolios or certain predecessor
Portfolios or accounts, and (ii) the actual investment advisory fee, Rule 12b-1
fee and direct operating expenses of the relevant Portfolios. Investment results
for periods prior to October 1996, when HRT Class IB shares were not available,
have been adjusted to reflect 12b-1 fees. In addition, for all periods, the
performance data reflects the Separate Account asset charges assessed under the
TSA Advantage Contract, as if it had been available in the periods shown.
Performance for the Alliance Money Market, Alliance Balanced, Alliance Common
Stock and Alliance Aggressive Stock Funds for the period before those Funds were
operated as a unit investment trust has been adjusted to reflect the investment
advisory fee and expense structure that became applicable to the unit investment
trust. See "The Reorganization" in the SAI for additional information.
Because amounts allocated to the Investment Funds are invested in a mutual fund,
investment return and principal will fluctuate and Accumulation Units may be
worth more or less than the original cost when redeemed. The results shown are
not an estimate or guarantee of future investment performance.
HOW PERFORMANCE DATA ARE PRESENTED
Tables 1 and 2 compare annualized and cumulative rates of return for each
Investment Fund along with appropriate benchmarks. Table 3 shows the
year-by-year rates of return for each Investment Fund. These performance results
are based on the change in the Accumulation Unit value for each Investment Fund
for the periods shown.
Investment results in Tables 1, 2, and 3 are net of all charges and expenses
assessed against the Investment Funds (including fees and expenses of the
Trusts) but exclude the annual administrative charge and any withdrawal charges
which would also reduce the actual return. Tables 4 and 5 show performance
results after giving effect to all charges and expenses including the annual
administrative charge and the contingent withdrawal charge. Since charges under
the Contracts may vary, we have assumed, for each charge, the highest that might
apply.
Certain of the Investment Funds began operations on a date after the inception
date of the corresponding Portfolio. When we advertise the performance of an
Investment Fund we will separately set forth the performance of that Fund since
its inception date, to the extent required by regulatory authorities.
BENCHMARKS
Market indices are not subject to any charges for investment advisory fees
typically associated with a managed portfolio. Comparisons with these
benchmarks, therefore, are of limited use. We include them because they are
widely known and may help you to understand the universe of securities from
which each Portfolio manager is likely to make selections.
5
<PAGE>
INCEPTION DATES AND COMPARATIVE BENCHMARKS
ALLIANCE MONEY MARKET: May 11, 1982; Salomon Brothers Three-Month T-Bill Index
(3-Month T-Bill).
ALLIANCE INTERMEDIATE GOVERNMENT SECURITIES: April 1, 1991; Lehman Intermediate
Government Bond Index (Lehman Intermediate Government).
ALLIANCE QUALITY BOND: October 1, 1993; Lehman Aggregate Bond Index (Lehman
Aggregate).
ALLIANCE HIGH YIELD: January 2, 1987; Merrill Lynch High Yield Master Index
(Master High Yield).
ALLIANCE GROWTH & INCOME: October 1, 1993; 75% Standard & Poor's 500 Index (S&P
500) and 25% Value Line Convertibles Index (75% S&P 500/25% Value Line Conv.).
ALLIANCE EQUITY INDEX: March 1, 1994; Standard & Poor's 500 Index (S&P 500).
ALLIANCE COMMON STOCK: August 1, 1968; Standard & Poor's 500 Index (S&P 500).
ALLIANCE GLOBAL: August 27, 1987; Morgan Stanley Capital International World
Index (MSCI World).
ALLIANCE INTERNATIONAL: April 3, 1995; Morgan Stanley Capital International
Europe, Australia, Far East Index (MSCI EAFE).
ALLIANCE AGGRESSIVE STOCK: May 1, 1984; 50% Russell 2000 Small Stock Index and
50% S&P MidCap Total Return (50% Russell 2000/50% S&P MidCap).
ALLIANCE SMALL CAP GROWTH: May 1, 1997; Russell 2000 Growth Index (Russell 2000
Gr).
ALLIANCE CONSERVATIVE INVESTORS: October 2, 1989; 70% Lehman Treasury Bond
Composite Index and 30% S&P 500 Index (70% Lehman Treas./30% S&P 500).
ALLIANCE BALANCED: May 1, 1984; 50% S&P 500 and 50% Lehman Government/Corporate
Bond Index (50% S&P 500/50% Lehman Corp.).
ALLIANCE GROWTH INVESTORS: October 2, 1989; 30% Lehman Government/Corporate Bond
Index and 70% S&P 500 Index (30% Lehman Treas./70% S&P 500).
T. ROWE PRICE INTERNATIONAL STOCK: May 1, 1997; Morgan Stanley Capital
International Europe, Australia, Far East Index (MSCI EAFE).
T. ROWE PRICE EQUITY INCOME: May 1, 1997; Standard & Poor's 500 Index (S&P 500).
EQ/PUTNAM GROWTH & INCOME VALUE: May 1, 1997; Standard & Poor's 500 Index (S&P
500).
EQ/PUTNAM BALANCED: May 1, 1997; 60% Standard & Poor's 500 Index and 40% Lehman
Government/Corporate Bond Index (60% S&P500/40% Lehman Corp.)
MFS RESEARCH: May 1, 1997; Standard & Poor's 500 Index (S&P 500).
MFS EMERGING GROWTH COMPANIES: May 1, 1997; Russell 2000 Index (Russell 2000).
MORGAN STANLEY EMERGING MARKETS EQUITY: August 20, 1997; Morgan Stanley Capital
International Emerging Markets Free Price Return Index (MSCI Emerging Markets).
WARBURG PINCUS SMALL COMPANY VALUE: May 1, 1997; Russell 2000 Index (Russell
2000).
MERRILL LYNCH WORLD STRATEGY: May 1, 1997; 36% S&P 500/24% MSCI EAFE/21% Salomon
Brothers US Treasury Bond 1 Year+/14% Salomon Brothers World Government Bond Ex
US/5% 3-Month U.S. T-bill-(Market Composite).
MERRILL LYNCH BASIC VALUE EQUITY: May 1, 1997; Standard & Poor's 500 Index (S&P
500).
The Lipper Variable Insurance Products Performance Analysis Survey (Lipper)
records the performance of a large group of variable annuity and variable life
products, including managed separate accounts of insurance companies. According
to Lipper Analytical Services, Inc., the data are presented net of investment
management fees, direct operating and asset-based charges applicable under
variable insurance policies or variable annuity contracts. Lipper data provide a
more accurate picture than market indices of EQUI-VEST performance relative to
other annuity products.
All rates of return presented are time-weighted and include reinvestment of
investment income, including interest and dividends. Cumulative rates of return
reflect performance over a stated period of time. Annualized rates of return
represent the annual rate of growth that would have produced the same cumulative
return, if performance had been constant over the entire period.
6
<PAGE>
TABLE 1:
ANNUALIZED RATES OF RETURN FOR PERIODS ENDED DECEMBER 31, 1997:
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------------------------------------------------------
PORTFOLIO
SINCE INCEPTION
1 YEAR 3 YEARS 5 YEARS 10 YEARS 20 YEARS INCEPTION DATE
-----------------------------------------------------------------------------------
FIXED-INCOME SERIES:
Domestic Fixed Income
<S> <C>
ALLIANCE MONEY MARKET 5/11/82
Lipper Money Market
3-Month T-Bill
ALLIANCE INTERMEDIATE
GOVERNMENT SECURITIES 4/1/91
Lipper U.S. Government
Lehman Intermediate Government
ALLIANCE QUALITY BOND 10/1/93
Lipper Corporate Bond A-Rated
Lehman Aggregate
Aggressive Fixed Income
ALLIANCE HIGH YIELD 1/2/87
Lipper High Yield
Master High Yield
EQUITY SERIES:
Domestic Equity
T. ROWE PRICE EQUITY INCOME 5/1/97
Lipper Equity Income
S&P 500
EQ/PUTNAM
GROWTH & INCOME VALUE 5/1/97
Lipper Growth & Income
S&P 500
ALLIANCE GROWTH & INCOME 10/1/93
Lipper Growth
25% Value Line Conv./75% S&P 500
ALLIANCE EQUITY INDEX 3/1/94
Lipper S&P 500 Index Funds
S&P 500
MERRILL LYNCH
BASIC VALUE EQUITY 5/1/97
Lipper Growth & Income
S&P 500
ALLIANCE COMMON STOCK 8/1/68
Lipper Growth
S&P 500
MFS RESEARCH 5/1/97
Lipper Growth
S&P 500
International Equity
ALLIANCE GLOBAL 8/27/87
Lipper Global
MSCI World
ALLIANCE INTERNATIONAL 4/3/95
Lipper International
MSCI EAFE
T. ROWE PRICE
INTERNATIONAL STOCK 5/1/97
Lipper International
MSCI EAFE
MORGAN STANLEY EMERGING
MARKETS EQUITY 8/20/97
Lipper Emerging Markets
MSCI Emerging Markets
- -------------------------------------------------------------------------------------------------------------------------------
</TABLE>
This table continues on next page
+ Return for this Fund is unannualized and represents 8 months of performance.
* Return for this Fund is unannualized and represents 5 months of performance.
7
<PAGE>
TABLE 1:
ANNUALIZED RATES OF RETURN (CONTINUED):
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------------------------------------------------------
PORTFOLIO
SINCE INCEPTION
1 YEAR 3 YEARS 5 YEARS 10 YEARS 20 YEARS INCEPTION DATE
-----------------------------------------------------------------------------------
EQUITY SERIES (CONTINUED):
Aggressive Equity
<S> <C>
ALLIANCE AGGRESSIVE STOCK 5/1/84
Lipper Mid-Cap Growth
50% Russell 2000/50% S&P Mid-Cap
WARBURG PINCUS
SMALL COMPANY VALUE 5/1/97
Lipper Small-Cap
Russell 2000 Growth
ALLIANCE SMALL CAP GROWTH 5/1/97
Lipper Small-Cap
Russell 2000 Growth
MFS EMERGING GROWTH 5/1/97
COMPANIES
Lipper Mid-Cap
Russell 2000
ASSET ALLOCATION SERIES:
ALLIANCE CONSERVATIVE INVESTORS 10/2/89
Lipper Income
70% Lehman Treas./30% S&P 500
EQ/PUTNAM BALANCED 5/1/97
Lipper Balanced
40% Lehman Gov't./Corp./60% S&P 500
ALLIANCE BALANCED 5/1/84
Lipper Flexible Portfolio
50% Lehman Gov't./Corp./70% S&P 500
ALLIANCE GROWTH INVESTORS 10/2/89
Lipper Flexible Portfolio
30% Lehman Gov't./Corp./70% S&P 500
MERRILL LYNCH WORLD STRATEGY 5/1/97
Lipper Global Flexible Portfolio
Market Composite
</TABLE>
- --------------------------------------------------------------------------------
+ Return for this Fund is unannualized and represents 8 months of performance.
* Return for this Fund is unannualized and represents 5 months of performance.
8
<PAGE>
TABLE 2:
CUMULATIVE RATES OF RETURN FOR PERIODS ENDED DECEMBER 31, 1997:
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------------------------------------------------------
PORTFOLIO
SINCE INCEPTION
1 YEAR 3 YEARS 5 YEARS 10 YEARS 20 YEARS INCEPTION DATE
-----------------------------------------------------------------------------------
FIXED-INCOME SERIES:
Domestic Fixed Income
<S> <C>
ALLIANCE MONEY MARKET 5/11/82
Lipper Money Market
3-Month T-Bill
ALLIANCE INTERMEDIATE
GOVERNMENT SECURITIES 4/1/91
Lipper U.S. Government
Lehman Intermediate Government
ALLIANCE QUALITY BOND 10/1/93
Lipper Corporate Bond A-Rated
Lehman Aggregate
Aggressive Fixed Income
ALLIANCE HIGH YIELD 1/2/87
Lipper High Yield
Master High Yield
EQUITY SERIES:
Domestic Equity
T. ROWE PRICE EQUITY INCOME 5/1/97
Lipper Equity Income
S&P 500
EQ/PUTNAM
GROWTH & INCOME VALUE 5/1/97
Lipper Growth & Income
S&P 500
ALLIANCE GROWTH & INCOME 10/1/93
Lipper Growth & Income
25% Value Line Conv./75% S&P 500
ALLIANCE EQUITY INDEX 3/1/94
Lipper S&P 500 Index Funds
S&P 500
MERRILL LYNCH BASIC VALUE EQUITY 5/1/97
Lipper Growth & Income
S&P 500
ALLIANCE COMMON STOCK 8/1/68
Lipper Growth
S&P 500
MFS RESEARCH 5/1/97
Lipper Growth
S&P 500
International Equity
ALLIANCE GLOBAL 8/27/87
Lipper Global
MSCI World
ALLIANCE INTERNATIONAL 4/3/95
Lipper International
MSCI EAFE
T. ROWE PRICE
INTERNATIONAL STOCK 5/1/97
Lipper International
MSCI EAFE
MORGAN STANLEY EMERGING
MARKETS EQUITY 8/20/97
Lipper Emerging Markets
MSCI Emerging Market
- -------------------------------------------------------------------------------------------------------------------------------
</TABLE>
This table continues on next page
9
<PAGE>
TABLE 2: CUMULATIVE RATES OF RETURN (CONTINUED):
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------------------------------------------------------
PORTFOLIO
SINCE INCEPTION
1 YEAR 3 YEARS 5 YEARS 10 YEARS 20 YEARS INCEPTION DATE
-----------------------------------------------------------------------------------
EQUITY SERIES (CONTINUED):
Aggressive Equity
<S> <C>
ALLIANCE AGGRESSIVE STOCK 5/1/84
Lipper Mid-Cap Growth
50% Russell 2000/50% S&P Mid-Cap
WARBURG PINCUS
SMALL COMPANY VALUE 5/1/97
Lipper Small-Cap
Russell 2000
ALLIANCE SMALL CAP GROWTH 5/1/97
Lipper Small-Cap
Russell 2000 Growth
MFS EMERGING GROWTH COMPANIES 5/1/97
Lipper Mid-Cap
Russell 2000
ASSET ALLOCATION SERIES:
ALLIANCE CONSERVATIVE INVESTORS 10/2/89
Lipper Income
70% Lehman Treas./30% S&P 500
EQ/PUTNAM BALANCED 5/1/97
Lipper Balanced
40% Lehman Gov't./Corp./60% S&P 500
ALLIANCE BALANCED 5/1/84
Lipper Flexible Portfolio
50% Lehman Gov't./Corp./70% S&P 500
ALLIANCE GROWTH INVESTORS 10/2/89
Lipper Flexible Portfolio
30% Lehman Gov't./Corp./70% S&P 500
MERRILL LYNCH WORLD STRATEGY 5/1/97
Lipper Global Flexible Portfolio
Market Composite
- -------------------------------------------------------------------------------------------------------------------------------
</TABLE>
10
<PAGE>
TABLE 3:
YEAR-BY-YEAR RATES OF RETURN
<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------------------------------------------------------
1988 1989 1990 1991 1992 1993 1994 1995 1996 1997
--------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ALLIANCE MONEY MARKET
ALLIANCE INTERMEDIATE GOVERNMENT
SECURITIES
ALLIANCE QUALITY BOND
ALLIANCE HIGH YIELD
ALLIANCE GROWTH & INCOME
ALLIANCE EQUITY INDEX
ALLIANCE COMMON STOCK
ALLIANCE GLOBAL
ALLIANCE INTERNATIONAL
ALLIANCE AGGRESSIVE STOCK
ALLIANCE SMALL CAP GROWTH
ALLIANCE CONSERVATIVE INVESTORS
ALLIANCE BALANCED
ALLIANCE GROWTH INVESTORS
T. ROWE PRICE INTERNATIONAL STOCK
PORTFOLIO
T. ROWE PRICE EQUITY INCOME
PORTFOLIO
EQ/PUTNAM GROWTH & INCOME VALUE
PORTFOLIO
EQ/PUTNAM BALANCED PORTFOLIO
MFS RESEARCH PORTFOLIO
MFS EMERGING GROWTH COMPANIES
PORTFOLIO
MORGAN STANLEY EMERGING MARKETS
EQUITY PORTFOLIO
WARBURG PINCUS SMALL COMPANY VALUE
PORTFOLIO
MERRILL LYNCH WORLD STRATEGY
PORTFOLIO
MERRILL LYNCH BASIC VALUE EQUITY
PORTFOLIO
</TABLE>
- -------------------
* Unannualized
- --------------------------------------------------------------------------------
The performance data in Tables 4 and 5, illustrate the growth of an investment,
and the average annual total return of the Investment Funds, respectively, over
the periods shown assuming a single initial contribution of $1,000 and
termination of the TSA Advantage Contract at the end of each period on
December 31, 1997, under circumstances in which the contingent withdrawal charge
applies. The values shown are also net of all other charges and expenses
assessed against the Investment Funds. An Investment Fund's average annual total
return is the annual rate of growth of the Investment Fund that would be
necessary to achieve the ending value of a contribution kept in the Investment
Fund for the period specified.
11
<PAGE>
Each calculation further assumes that the $1,000 contribution was allocated to
only one Investment Fund, no transfers or additional contributions were made, no
loans, and no amounts were allocated to any other Investment Fund under the
Contract.
In order to calculate the performance information, we divide the termination
value (defined below) of a Contract which is terminated on December 31, 1997 by
the $1,000 investment made at the beginning of each period illustrated. The
result of that calculation is the total growth rate for the period. Then we
annualize that growth rate to obtain the average annual percentage increase
(decrease) during the period shown. When we "annualize," we assume that a single
rate of return applied each year during the period will produce the ending
value, taking into account the effect of compounding. "Termination value" means
the Annuity Account Value less the contingent withdrawal charge, the annual
administrative charge and all other charges and expenses which are applied
against an Investment Fund. See "Part 7: Deductions and Charges" in the
Prospectus.
12
<PAGE>
TABLE 4:
GROWTH OF $1,000 FOR CONTRACTS TERMINATED ON DECEMBER 31, 1997:
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------------------------------------------------------
LENGTH OF INVESTMENT PERIOD
--------------------------------------------------------------------------------------
INVESTMENT ONE THREE FIVE TEN SINCE PORTFOLIO
FUND YEAR YEARS YEARS YEARS INCEPTION*
- -------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Alliance Money Market
Alliance Intermediate Government
Securities
Alliance Quality Bond
Alliance High Yield
Alliance Growth & Income
Alliance Equity Index
Alliance Common Stock
Alliance Global
Alliance International
Alliance Aggressive Stock
Alliance Small Cap Growth
Alliance Conservative Investors
Alliance Balanced
Alliance Growth Investors
T. Rowe Price International Stock
Portfolio
T. Rowe Price Equity Income Portfolio
E/Q Putnam Growth &
Income Value Portfolio
E/Q Putnam Balanced Portfolio
MFS Research Portfolio
MFS Emerging Growth Companies Portfolio
Morgan Stanley Emerging Markets Equity
Portfolio
Warburg Pincus Small Company Value
Portfolio
Merrill Lynch World Strategy Portfolio
Merrill Lynch Basic Value Equity
Portfolio
- -------------------------------------------------------------------------------------------------------------------------------
</TABLE>
* Portfolio inception dates are shown in Tables 1 and 2.
13
<PAGE>
TABLE 5:
AVERAGE ANNUAL TOTAL RETURN UNDER CONTRACTS TERMINATED ON DECEMBER 31, 1997:
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------------------------------------------------------
LENGTH OF INVESTMENT PERIOD
--------------------------------------------------------------------------------------
INVESTMENT SINCE
FUND ONE THREE FIVE TEN SINCE FUND PORTFOLIO
YEAR YEARS YEARS YEARS INCEPTION* INCEPTION**
- -------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Alliance Money Market
Alliance Intermediate Government
Securities
Alliance Quality Bond
Alliance High Yield
Alliance Growth & Income
Alliance Equity Index
Alliance Common Stock
Alliance Global
Alliance International
Alliance Aggressive Stock
Alliance Small Cap Growth
Alliance Conservative Investors
Alliance Balanced
Alliance Growth Investors
T. Rowe Price International Stock
Portfolio
T. Rowe Price Equity Income Portfolio
E/Q Putnam Growth &
Income Value Portfolio
E/Q Putnam Balanced Portfolio
MFS Research Portfolio
MFS Emerging Growth Companies Portfolio
Morgan Stanley Emerging Markets Equity
Portfolio
Warburg Pincus Small Company Value
Portfolio
Merrill Lynch World Strategy Portfolio
Merrill Lynch Basic Value Equity
Portfolio
</TABLE>
- -------------------
* Fund inception dates are: Alliance Money Market (5/11/82), Alliance
Intermediate Government Securities (6/1/94), Alliance Quality Bond (1/4/94),
Alliance High Yield (1/4/94), Alliance Growth & Income (1/4/94), Alliance
Equity Index (6/1/94), Alliance Common Stock (8/27/81), Alliance Global
(1/4/94), Alliance International (9/1/95), Alliance Growth Investors
(1/4/94), Alliance Aggressive Stock (5/1/84), Alliance Small Cap Growth
(6/2/97), Alliance Conservative Investors (1/4/94), Alliance Balanced
(5/1/84), T. Rowe Price International Stock (6/2/97), T. Rowe Price Equity
Income (6/2/97), EQ/Putnam Growth & Income Value (6/2/97), EQ/Putnam Balanced
(6/2/97), MFS Research (6/2/97), MFS Emerging Growth Companies (6/2/97),
Morgan Stanley Emerging Markets Equity (8/20/97), Warburg Pincus Small
Company Value (6/2/97), Merrill Lynch World Strategy (6/2/97), Merrill Lynch
Basic Value Equity (6/2/97).
** Portfolio inception dates are shown in Tables 1 and 2.
- --------------------------------------------------------------------------------
14
<PAGE>
COMMUNICATING PERFORMANCE DATA
In reports or other communications or in advertising material, we may describe
general economic and market conditions affecting the Separate Account and HRT or
EQAT and may present the performance of the Investment Funds or compare it with
(1) that of other insurance company separate accounts or mutual funds included
in the rankings prepared by Lipper Analytical Services, Inc., Morningstar Inc.,
VARDS or similar investment services that monitor the performance of insurance
company separate accounts or mutual funds, (2) other appropriate indices of
investment securities and averages for peer universes of funds which are
described elsewhere in this prospectus, or (3) data developed by us derived from
such indices or averages. The Morningstar Variable Annuity/Life Report consists
of over 700 variable life and annuity funds, all of which report their data net
of investment management fees, direct operating expenses and separate account
charges. VARDS is a monthly reporting service that monitors over 2,500 variable
life and variable annuity funds on performance and account information.
Advertisements or other communications furnished to present or prospective
Contract Owners may also include evaluations of an Investment Fund or Portfolio
by financial publications that are nationally recognized such as Barron's,
Morningstar's Variable Annuity Sourcebook, Business Week, Chicago Tribune,
Forbes, Fortune, Institutional Investor, Investment Adviser, Investment Dealer's
Digest, Investment Management Weekly, Los Angeles Times, Money, Money Management
Letter, Kiplinger's Personal Finance, Financial Planning, National Underwriter,
Pension & Investments, USA Today, Investor's Daily, The New York Times and The
Wall Street Journal.
THE FOLLOWING SENTENCE IS ADDED TO THE END OF THE THIRD PARAGRAPH UNDER "PART 4:
THE GUARANTEED INTEREST ACCOUNT" ON PAGE 41 OF THE PROSPECTUS:
Equitable reserves the right to declare yearly guaranteed interest
rates and current interest rates with respect to the TSA Advantage Contracts
that are different than such rates as declared and applicable to the other
EQUI-VEST Contracts.
THE FOLLOWING PARAGRAPH REPLACES THE FOURTH PARAGRAPH UNDER "CHARGES TO
PORTFOLIOS" ON PAGE 55 OF THE PROSPECTUS:
The Rule 12b-1 Plan provides that EQAT and HRT, on behalf of each of
their Portfolios, may charge annually up to 0.25% of the average daily net
assets of a Portfolio attributable to its Class IB shares in respect of
activities primarily intended to result in the sale of the Class IB shares. This
fee will not be increased for the life of the Contract. Fees and expenses are
described more fully in the EQAT and HRT prospectuses.
THE FOLLOWING IS ADDED TO THE END OF "PART 7 : CHARGES AND DEDUCTIONS" ON PAGE
62 OF THE PROSPECTUS:
- --------------------------------------------------------------------------------
EQUI-VEST TSA ADVANTAGE CONTRACTS (SERIES 600 ONLY)
- --------------------------------------------------------------------------------
CHARGES TO INVESTMENT FUNDS
We make a daily charge at the effective annual rate of 1.20% against the assets
held in each of the Investment Funds. This charge is reflected in the
Accumulation Unit Values for the particular Investment Fund and covers mortality
and expense risk and death benefit charges of .95% and expenses of 0.25%.
The mortality and expense risk and death benefit charge is comprised of 0.50%
for mortality risk, including guaranteed death benefits, and 0.45% for expense
risk, although the allocation of these charges may vary. We assume a mortality
risk by (a) our obligation to pay a death benefit that will not be less than the
total value of all contributions made (less any applicable taxes) adjusted for
total withdrawals, (b) our obligation to make annuity payments for the life of
the Annuitant under guaranteed fixed annuity options, regardless of the
Annuitant's longevity, (c) our guarantees relating to annuity purchase rates,
the actuarial basis for which can be changed only for new contributions and
15
<PAGE>
only on the fifth anniversary of the Contract Date and every five years
thereafter, and (d) our obligation to waive the contingent withdrawal charge
upon the payment of a death benefit.
The expense risk we assume is the risk that, over time, our actual expense of
administering the Contracts, including financial accounting, may exceed the
amounts realized from the expense charge and the annual administrative expense
charge. Part of the mortality and expense risk charge may be considered to be an
indirect reimbursement for certain sales and promotional expenses relating to
the Contracts to the extent that the charge is not needed to meet the actual
expenses incurred.
The charge for expenses, together with the annual administrative charge
described below, is designed to reimburse us for our costs in providing
administrative services in connection with the Contracts.
Maximum Total Separate Account Charges
We may change the annual rate of the daily asset charge imposed on the amounts
held in the Investment Funds comprising the Separate Account. We may increase or
decrease the 1.20% total Separate Account charge currently applicable, but may
not increase the total charge above a maximum annual rate of 2.00%. Any increase
would only be made upon advance notice to you and would apply only to
contributions made after the date of the change. Changes, if any, would reflect
differences in costs and anticipated mortality and expense experience, and would
not be unfairly discriminatory.
CONTINGENT WITHDRAWAL CHARGE
No sales charges are deducted from contributions. However, to assist us in
defraying the various sales and promotional expenses incurred in connection with
selling the Contracts, we assess a charge on amounts withdrawn when you make a
partial withdrawal, default on a loan or terminate your Contract if the amount
withdrawn, or the defaulted loan amount, as the case may be, is in excess of the
free corridor amount (defined in this section) or if no exception applies. The
amount of the withdrawal and the applicable contingent withdrawal charge are
deducted pro rata from the Investment Funds, and the Guaranteed Interest Account
should collection from the other Investment Options be insufficient. The amount
deducted to pay the contingent withdrawal charge is also subject to the
withdrawal charge.
The contingent withdrawal charge is equal to 6% of the amount withdrawn or the
defaulted loan amount during the first six Contract Years. In the case of a
termination, we will pay the greater of (i) the Annuity Account Value after the
withdrawal charge has been imposed, as described above, or (ii) the free
corridor amount plus 94% of the remaining Annuity Account Value.
We reserve the right to change the amount of the contingent withdrawal charge,
provided that it will not exceed 6% of the amount withdrawn or the defaulted
loan amount. Applicable regulations would not permit such a change if it would
be unfairly discriminatory to any person. The contingent withdrawal charge will
not exceed applicable regulatory limits, if any. Also, the total of all
withdrawal charges assessed will not exceed 8% of all contributions made. The
tax consequences of withdrawals are discussed under "Part 9: Federal Tax and
ERISA Matters."
Free Withdrawal Amount (Free Corridor)
No withdrawal charge will be applied during any Contract Year in which the
amount withdrawn is less than or equal to 10% of the Annuity Account Value at
the time the withdrawal is requested minus any amount previously withdrawn
during that Contract Year. This 10% portion is called the FREE CORRIDOR AMOUNT.
Any withdrawal requested that exceeds the free corridor amount will be subject
to the contingent withdrawal charge, unless one of the following exceptions
applies.
Exceptions to the Contingent Withdrawal Charge
A contingent withdrawal charge will not apply upon any of the events listed
below:
o the Annuitant retires pursuant to terms of the TSA Plan, or separates from
service;
o the Annuitant reaches age 59 1/2 and completes at least five Contract
Years;
16
<PAGE>
o the Annuitant dies and a death benefit is payable to the beneficiary;
o we receive a properly completed election form providing for the Annuity
Account Value to be used to buy a life annuity;
o the Annuitant attains age 55 and completes at least five Contract Years
and we receive a properly completed election form providing for the
Annuity Account Value to be used to buy a period certain annuity which
extends beyond the Annuitant's attainment of age 59 1/2 and does not
permit any prepayment of the unpaid principal prior to the Annuitant's
attainment of age 59 1/2;
o the Annuitant completes at least three Contract Years and we receive a
properly completed election form providing for the Annuity Account Value
to be used to buy a period certain annuity of at least 10 years which
does not permit any prepayment of the unpaid principal;
o a request is made for a refund of an excess Contribution within one month
of the date on which the Contribution is made;
o the Annuitant has qualified to receive Social Security disability
benefits as certified by the Social Security Administration;
o we receive proof satisfactory to us that the Annuitant's life expectancy
is six months or less (such proof must include, but is not limited to,
certification by a licensed physician);
o the Annuitant has been confined to a nursing home for more than a 90 day
period (or such other period, if required in your state) as verified by a
licensed physician. A nursing home for this purpose means one which is
(a) approved by Medicare as a provider of skilled nursing care service,
or (b) licensed as a skilled nursing home by the state or territory in
which it is located (it must be within the United States, Puerto Rico,
U.S. Virgin Islands, or Guam) and meets all of the following:
- its main function is to provide skilled, intermediate, or custodial
nursing care;
- it provides continuous room and board to three or more persons;
- it is supervised by a registered nurse or licensed practical nurse;
- it keeps daily medical records of each patient;
- it controls and records all medications dispensed; and
- its primary service is other than to provide housing for residents.
o the Annuitant elects a withdrawal that qualifies as a hardship withdrawal
under the Code.
ANNUAL ADMINISTRATIVE CHARGE
Except as discussed below, on the last Business Day of each Contract Year we
deduct from the Annuity Account Value an annual administrative charge equal to
the lesser of $30 or 2% of the Annuity Account Value on such Business Day
(adjusted to include any withdrawals made during the year). This charge is
deducted from each Investment Option on a pro rata basis. This charge will be
prorated for a fractional year if, before the end of the Contract Year, you
surrender your Contract, or the Annuity Account Value is applied to provide an
annuity benefit or death benefit. Accumulation Units will be redeemed in order
to pay any portion of the charge deducted from an Investment Fund. We reserve
the right to increase this charge in the future to a maximum of $65 if our
administrative costs increase.
Any portion of the charge deducted from the Guaranteed Interest Account is
withdrawn in dollars.
Exceptions to Annual Administrative Charge
For TSA Advantage Contracts, no charge will apply if the Annuity Account Value
is at least $25,000 at the end of the Contract Year.
17
<PAGE>
THIRD PARTY TRANSFER OR EXCHANGE FEE
There currently is no Third Party Transfer or Exchange Fee. However, we reserve
the right to impose this fee in the future, but it may not exceed a maximum of
$65 per occurrence, subject to applicable law.
ADDITIONAL INFORMATION
At some time in the future Equitable Life may, under certain circumstances and
subject to applicable law, allow a current owner of a Series 100 or Series 200
TSA contract to exchange it for a TSA Advantage Contract. An exchange for a TSA
Advantage Contract may or may not be advantageous to you, based on all the
circumstances, including a comparison of contractual terms and conditions, and
charges and deductions. Additional information will be available upon request
from Equitable Life at such time as exchanges may be permitted.
59732v1
18
<PAGE>
PART C
OTHER INFORMATION
-----------------
This Part C is amended solely for the purpose of adding Exhibits 4(k), 4(l),
4(m), 4(n), 4(o), 4(p), and 5(c) to Item 24(b), and filing such exhibits
herewith. No amendment or deletion is made of any of the other information set
forth under the Part C Items as provided in Post-Effective Amendment No. 60 to
the Registration Statement.
Item 24. Financial Statements and Exhibits
----------------------------------
(b) Exhibits.
The following exhibits are filed herewith:
4(k) Form of Data pages for TSA Advantage Certificates
4(l) Form of Endorsement applicable to TSA Advantage Certificates,
plus Table of Guaranteed Annuity Payments Rider
4(m) Form of Data Pages for standard Roth IRA Certificates
4(n) Form of Endorsement for standard Roth IRA Certificates
4(o) Form of Data Pages for Roth Advantage IRA Certificates
4(p) Form of Endorsement for Roth Advantage IRA Certificates
5(c) Form of Application for use with TSA Advantage Certificates,
standard Roth IRA Certificates, and Roth Advantage IRA
Certificates
C-1
<PAGE>
SIGNATURES
As required by the Securities Act of 1933 and the Investment Company
Act of 1940, the Registrant certifies that it has duly caused this Registration
Statement or amendment thereto to be signed on its behalf, in the City and State
of New York, on the 9th day of June, 1998.
SEPARATE ACCOUNT A OF
THE EQUITABLE LIFE ASSURANCE SOCIETY
OF THE UNITED STATES
(Registrant)
By: The Equitable Life Assurance
Society of the United States
By: /s/ Naomi Weinstein
-------------------------
Naomi Weinstein
Vice President
C-2
<PAGE>
SIGNATURES
As required by the Securities Act of 1933 and the Investment Company
Act of 1940, the Depositor certifies that it has duly caused this Registration
Statement or amendment thereto to be signed on its behalf, in the City and State
of New York, on the 9th day of June, 1998.
THE EQUITABLE LIFE ASSURANCE SOCIETY
OF THE UNITED STATES
(Depositor)
By: /s/ Naomi Weinstein
------------------------
Naomi Weintein
Vice President
As required by the Securities Act of 1933 and the Investment Company
Act of 1940, this amendment to the Registration Statement has been signed by the
following persons in the capacities and on the date indicated:
PRINCIPAL EXECUTIVE OFFICERS:
Michael Hegarty President, Chief Operating Officer
and Director
Edward D. Miller Chairman of the Board,
Chief Executive Officer and Director
PRINCIPAL FINANCIAL OFFICER:
Stanley B. Tulin Vice Chairman of the Board,
Chief Financial Officer and Director
PRINCIPAL ACCOUNTING OFFICER:
/s/ Alvin H. Fenichel Senior Vice President and Controller
- ---------------------
Alvin H. Fenichel
June 9, 1998
DIRECTORS:
Francoise Colloc'h Donald J. Greene G. Donald Johnston, Jr.
Henri de Castries John T. Hartley George T. Lowy
Joseph L. Dionne John H.F. Haskell, Jr. Edward D. Miller
Denis Duverne Michael Hegarty Didier Pineau-Valencienne
William T. Esrey Mary R. (Nina) Henderson George J. Sella, Jr.
Jean-Rene Fourtou W. Edwin Jarmain Stanley B. Tulin
Norman C. Francis Dave H. Williams
By: /s/ Naomi Weinstein
-------------------------
Naomi Weinstein
Attorney-in-Fact
June 9, 1998
C-3
<PAGE>
EXHIBIT INDEX
--------------
<TABLE>
<CAPTION>
EXHIBIT NO. TAG VALUE
- ----------- --------
<S> <C> <C>
4(k) Form of Data Pages for TSA Advantage Certificates EX-99.4k DATA
4(l) Form of Endorsement applicable to TSA Advantage Certificates,
plus Table of Guaranteed Annuity Payments Rider EX-99.4l ENDORSE
4(m) Form of Data Pages for standard Roth IRA Certificates EX-99.4m DATA
4(n) Form of Endorsement for standard Roth IRA Certificates EX-99.4n ENDORSE
4(o) Form of Data Pages for Roth Advantage Certificates EX-99.4o DATA
4(p) Form of Endorsement for Roth Advantage Certificates EX-99.4p ENDORSE
5(c) Form of Application for use with TSA Advantage Certificates,
standard Roth IRA Certificates, and Roth Advantage IRA Certificates EX-99.5c APPLICATION
</TABLE>
4268
C-4
DATA
PART A - THIS PART LISTS YOUR PERSONAL DATA
OWNER: [John Doe]
ANNUITANT: [Annuitant is same as Owner for TSA] [John Doe]
CERTIFICATE NUMBER: [XXXX]
ENDORSEMENTS ATTACHED: [TSA Endorsement]
CONTRACT: GROUP ANNUITY CONTRACT NO. AC [0000]
ISSUE DATE: [July 13, 1998]
CONTRACT DATE: [July 13, 1998]
ANNUITY COMMENCEMENT DATE:
The maximum maturity age is age [90] - see Section 7.03.
BENEFICIARY: [Jane Doe]
No. 94ICA/B-TSAER Page 1
<PAGE>
DATA PAGES (CONT'D.)
PART B - THIS PART LISTS THE CONTRACT TERMS WHICH AFFECT THE TYPE OF CERTIFICATE
YOU HAVE.
INITIAL GUARANTEED INTEREST RATE: [6% through December 31, 1999]
MINIMUM GUARANTEED INTEREST RATE; [3% after December 31, 1999]
INVESTMENT OPTIONS AVAILABLE (SEE PART II); YOUR ALLOCATION PERCENTAGE (UNTIL
CHANGED) IS ALSO SHOWN:
<TABLE>
<CAPTION>
INVESTMENT OPTION TYPE* ALLOCATION PERCENTAGE**
---------------- ----- -----------------------
<S> <C> <C>
o GUARANTEED INTEREST ACCOUNT N/A
o ALLIANCE EQUITY INDEX TYPE A
o ALLIANCE GROWTH & INCOME TYPE A
o ALLIANCE COMMON STOCK TYPE A
o ALLIANCE GLOBAL TYPE A
o ALLIANCE INTERNATIONAL TYPE A
o ALLIANCE AGGRESSIVE STOCK TYPE A
o ALLIANCE GROWTH INVESTORS TYPE A
o ALLIANCE BALANCED TYPE A
o ALLIANCE SMALL CAP GROWTH TYPE A
o ALLIANCE CONSERVATIVE INVESTORS TYPE B
o ALLIANCE MONEY MARKET TYPE B
o ALLIANCE INTERMEDIATE GOV'T. SECURITIES TYPE B
ALLIANCE QUALITY BOND TYPE B
o ALLIANCE HIGH YIELD TYPE B
o T. ROWE PRICE INTERNATIONAL STOCK TYPE A
o T. ROWE PRICE EQUITY INCOME TYPE A
o EQ/PUTNAM GROWTH & INCOME VALUE TYPE A
o EQ/PUTNAM BALANCED TYPE A
o MFS RESEARCH TYPE A
o MFS EMERGING GROWTH COMPANIES TYPE A
o MORGAN STANLEY EMERGING MARKETS EQUITY TYPE A
o WARBURG PINCUS SMALL COMPANY VALUE TYPE A
o MERRILL LYNCH WORLD STRATEGY TYPE A
o MERRILL LYNCH BASIC VALUE EQUITY TYPE A ---------------------------------
o TOTAL: 100%]
</TABLE>
[*TYPE A AND B INVESTMENT OPTIONS SHOWN ARE INVESTMENT FUNDS OF OUR
SEPARATE ACCOUNT A.]
** SEE SECTION 3.01
PROCESSING DATES (SEE SECTION 1.20):
A Processing Date is [the last Business Day of each Contract Year].
No. 94ICA/B-TSAER Page 2
<PAGE>
DATA PAGES (CONT'D.)
CONTRIBUTION LIMITS (SEE SECTION 3.02):
In addition to the maximum limits set by law as described in the
Endorsement hereto, we may refuse to accept any Contribution which is
less than [$20.]
TRANSFER RULES (SEE SECTION 4.02):
If you have elected any Type B Investment Option, whether or not
amounts have actually been placed in any such Option, then the maximum
amount which may be transferred from the Guaranteed Interest Account to
any other Investment Option in any Contract year is:
(a) [25%] of the amount you have in the Guaranteed Interest Account on
the last day of the prior Contract
year or, if greater,
(b) the total of all amounts transferred at your request from the
Guaranteed Interest Account to any of the other Investment Options
in such prior Contract year.
NUMBER OF FREE TRANSFERS IN A CONTRACT YEAR (SEE SECTION 4:02): [Unlimited]
We have the right in accordance with Section 4.02 to change our transfer rules.
We may impose a transfer charge of up to a maximum of $65 for each direct
transfer to a third party of amounts under your Contract or for an exchange
of another carrier's contract.
MINIMUM TRANSFER AMOUNT (SEE SECTION 4:02): [$300 or the Annuity Account Value
in an investment option if less.]
MINIMUM WITHDRAWAL AMOUNT (SEE SECTION 5.01): [$300 or the Annuity Account Value
if less.]
MINIMUM AMOUNT OF ANNUITY ACCOUNT VALUE AFTER A WITHDRAWAL (SEE SECTION
5.02(A)): [$500].
DEATH BENEFIT AMOUNT (SEE SECTION 6.01);
The Annuity Account Value or, if greater, the sum of all Contributions
made, less
o any tax charge that applies,
o all withdrawals made,
o any outstanding loan balance (if loans are permitted under your
plan).
NORMAL FORM OF ANNUITY (SEE SECTION 7.02):
[Joint and Survivor Annuity Form]
MINIMUM AMOUNT TO BE APPLIED FOR AN ANNUITY (SEE SECTION 7.06):
[$2,000], as well as minimum of [$20] for initial annuity payment.
No. 94ICA/B-TSAER Page 3
<PAGE>
INTEREST RATE TO BE APPLIED OR MISSTATEMENT OF AGE OR SEX (SEE SECTION 7.06):
[6% per year.]
WITHDRAWAL CHARGE (SEE SECTION 8.01):
[ 6% during Contract Years 1 through 6
0% thereafter
of the excess of the Annuity Account Value over the Free Corridor
Amount; but
not more than 8% of the total contributions made.]
FREE CORRIDOR AMOUNT (SEE SECTION 8.01):
[10%] of Annuity Account Value plus any outstanding loan balance (if
loans are permitted under your plan) minus withdrawals made in current
Contract year. Amounts withdrawn up to the Free Corridor Amount will
not be deemed a withdrawal of Contributions.
NO WITHDRAWAL CHARGES WILL APPLY IN THESE EVENTS, EACH OF WHICH OCCURS AFTER THE
CONTRACT DATE:
[(1) the Annuitant retires pursuant to terms of the Plan, or
separates from service;
(2) the Annuitant reaches 59 1/2 and completes at least 5 Contract
Years;
(3) the Annuitant dies and a death benefit is payable to the
beneficiary;
(4) we receive a properly completed election form providing for the
Annuity Account Value to be used to buy a life annuity as
described in Section 7.03;
(5) the Annuitant attains age 55 and completes at least 5 Contract
Years and we receive a properly completed election form
providing for the Annuity Account Value to be used to buy a
period certain annuity which extends beyond the Annuitant's
attainment of age 59 1/2 and does not permit any prepayment of
the unpaid principal prior to the Annuitant's attainment of age
59 1/2;
(6) the Annuitant completes at least three Contract Years and we
receive a properly completed election form providing for the
Annuity Account Value to be used to buy a period certain annuity
of at least 10 years which does not permit any prepayment of the
unpaid principal;
(7) a request is made for a refund of an excess Contribution within
one month of the date on which the Contribution is made;
(8) the Annuitant has qualified to receive Social Security
disability benefits as certified by the Social Security
Administration;
(9) we receive proof satisfactory to us that the Annuitant's life
expectancy is six months or less (such proof must include, but
is not limited to, certification by a licensed physician);
No. 94ICA/B-TSAER Page 4
<PAGE>
(10) the Annuitant has been confined to a nursing home for more than
a 90 day period (or such other period, if required in your
state) as verified by a licensed physician. A nursing home for
this purpose means one which is (a) approved by Medicare as a
provider of skilled nursing care service, or (b) licensed as a
skilled nursing home by the state or territory in which it is
located (it must be within the United States, Puerto Rico, U.S.
Virgin Islands, or Guam) and meets all of the following:
- its main function is to provide skilled, intermediate, or
custodial nursing care;
- it provides continuous room and board to three or more
persons;
- it is supervised by a registered nurse or licensed
practical nurse;
- it keeps daily medical records of each patient;
- it controls and records all medications dispensed; and
- its primary service is other than to provide housing for
residents.
(11) the Annuitant elects a withdrawal that qualifies as a hardship
withdrawal under the Code.]
ADMINISTRATIVE CHARGES (SEE SECTION 8.02):
(a) The lesser of [$30] and 2% of the Annuity Account Value plus the
amount of any withdrawals made in such Contract year pursuant to
Section 5.01. This amount may be increased to a maximum of $65
in accordance with Section 8.02.
However, no Charge will apply if the Annuity Account Value is
more than [$25,000.]
The Administrative Charges will be deducted on a pro-rata basis
among Investment Options. Also, they will be pro-rated for the
portion of the Contract Year in which the Contract Date occurs
or in which the Annuity Account Value is withdrawn or applied to
provide an Annuity Benefit or death benefit.
DAILY SEPARATE ACCOUNT CHARGE (SEE SECTION 8.04):
[1.20%; this is subject to change as described in Sections 8.04 and
8.05, subject to a maximum of 2.00%. This charge is for financial
accounting and for death benefits, mortality risk, expenses and expense
risk that we assume.]
No. 94ICA/B-TSAER Page 5
<PAGE>
[CERTIFICATE - TSA]
TABLE OF GUARANTEED VALUES
[Issue Age: 38, Male
Number of Years Guaranteed
Since First Contribution Cash Value
------------------------ ----------
1 $909
2 1,832
3 2,783
4 3,762
5 4,770
6 5,809
7 6,878
8 7,980
9 9,115
10 10,284
11 11,500
12 12,756
13 14,133
14 15,550
15 17,011
16 18,515
17 20,064
18 21,660
19 23,303
20 24,996
21 26,740
22 28,536
23 30,386
24 (age 62) 32,291
25 34,254
26 36,275
27 (age 65) 38,357
The table illustrates minimum guaranteed values. It assumes a $1,000
Contribution made each year on the first month which follows the Contract Date.
The table reflects (a) the maximum annual administrative charge of $65 and (b)
the maximum withdrawal charge of 8% of Contributions made in the first six
Contract years, as provided in Section 8.01. The table assumes that 100% of all
Contributions and earnings are in the Guaranteed Interest Account.
Your actual values may differ from those shown above based on the level and
frequency of your Contributions.
Based on the above assumptions, the Guaranteed Paid-Up Monthly Annuity at age
65 is [$141.54]. This amount assumes a fixed benefit 100% joint & survivor life
annuity (unisex table). It will be reduced by any charge we make for any taxes
(see Section 7.05). Other forms of Annuity Benefits may be available.]
No. 94ICA/B-TSAER Page 6
ENDORSEMENT
APPLICABLE TO TSA CERTIFICATES
When issued with this Endorsement, this Certificate is a "TSA Certificate" which
meets the requirements of Section [403(b)] of the Code. It is established for
the exclusive benefit of you and your beneficiaries, and the terms below change,
or are added to, applicable sections of this Certificate. Also, your rights
under the Certificate are not forfeitable. When used in this Endorsement
references to the Code include references to applicable tax Regulations.
1. ANNUITY COMMENCEMENT DATE (SECTION 1.04):
Your choice of an Annuity Commencement Date is subject to the maximum
maturity age stated in the Data pages. If you choose an Annuity
Commencement Date later than age [70 1/2], you must withdraw at least
the minimum payments required by tax regulations that apply, unless you
elect to satisfy these requirements through other "403(b) arrangements"
(defined in Item 6). See item 8 below.
2. EMPLOYER (SECTION 1.13):
"Employer" means either of the following:
(a) An organization described in Section [501(c)(3)] of the Code which
is exempt from Federal income tax under Section [501(a)] of the
Code.
(b) A State, a political subdivision of a State or an agency or
instrumentality of any of the foregoing, with respect to employees
who perform services for any educational organization, as described
in Section [170(b)(1)(A)(ii)] of the Code.
3. OWNER (SECTION 1.17):
You must be both the Owner and the Annuitant (unless we agree that you
may name a different Annuitant, subject to the Code or other applicable
law).
4. PLAN (SECTION 1.18):
"Plan" means an ERISA Plan, which is a program established by the
Employer for the purchase of annuities for its employees and which is
subject to Title I of the Employee Retirement Income Security Act of
1974 ("ERISA").
5. CONTRIBUTIONS (SECTIONS 3.01 AND 3.02):
Contributions must be remitted by the Employer. You may, with our
agreement, (i) transfer to the Certificate any amount held under a
contract or account that meets the requirements of Section [403(b)]
of the Code ("Transferred Funds"), or (ii) roll over contributions from
a contract or account that meets the requirements of Section [403(b)]
or Section [408(d)(3)(A)(iii)] of the Code. If you make a transfer as
described in (i) above, you must tell us the portion, if any, of the
Transferred Funds which are (a) exempt from the payment restrictions
described in Item 6 below and (b) eligible for delayed distribution
under Item 8 below. If you do not tell us, then we will treat all such
amounts as being subject to the applicable tax restrictions. Any
Transferred Funds from a contract not issued by us will be reduced by
the amount of any tax charge that applies, as we determine.
Contributions to the Certificate are limited to your exclusion
allowance for the year computed as required by Sections [403(b), 415,
and 402(a)] of the Code. Unless this Certificate is purchased
No. 96ENTSAIL Page 1
<PAGE>
under an ERISA plan and "employer contributions" may be made, all
contributions are made by your Employer under a salary reduction
agreement you enter into with your Employer. Your salary reduction
contributions are "elective deferrals" and cannot exceed the elective
deferral limitation under Section [402(g)] of the Code which applies to
this Certificate and all other plans, contracts or arrangements with
your Employer. If Contributions to this Certificate inadvertently cause
the excess deferral limit to be violated, such deferrals must be
distributed by April 15 of the following calendar year, as described in
Treasury Regulation Section [1.402(g) - 1(e).] (subject to a Withdrawal
Charge, unless otherwise specified in the Certificate).
If we are notified that any Contributions would cause this Certificate
not to qualify under Section 403(b) of the Code, we reserve the right
to either (i) refuse to accept any such Contributions or (ii) apply
such Contributions to a nonqualified deferred annuity contract or
certificate for the exclusive benefit of you and your beneficiaries.
6. RESTRICTIONS ON PAYMENTS (SECTIONS 5.01 AND 5.02):
[No payments in violation of the limits provided in Section 403(b)(11)
of the Code may be made with respect to salary reduction Contributions
and earnings credited thereon, less any "grandfather amount" described
below (these amounts are "Restricted Amounts").
Unless you have made Contributions to this Certificate through a
transfer described in Item 5 and you have also provided our Processing
Office in writing with a "grandfather amount," all amounts under this
Certificate will be deemed attributable to salary reduction
contributions made after December 31, 1988 and earnings credited
thereon. A "grandfather amount" is your "403(b) arrangement" account
balance as of December 31, 1988. ("403(b) arrangement" means any plan
which qualifies under Section 403(b) of the Code.)
Payments of Restricted Amounts may not be made until you reach age
59 1/2, separate from service, die, or become disabled. Payments of
salary reduction Contributions (but not any earnings credited thereon)
may also be made in the case of hardship. A request for a withdrawal of
Restricted Amounts on the grounds of disability or hardship as defined
in the Code must be sent with proof acceptable to us of such condition.
(For this purpose, disability is defined in Section 72(m)(7) of the
Code and hardship is defined in Section 403(b)(11) of the Code. We
reserve the right to limit transfers of Cash Value, up to the amount of
any Loan Reserve Account under your Certificate, to another 403(b)
arrangement while you have an outstanding loan as described in Item 10
of this Endorsement.]
7. DIRECT ROLLOVER OPTION:
You (or a beneficiary under Section 6.02 of this Certificate who is
your surviving spouse) may elect to have all or any portion of your
Cash Value (or Death Benefit) paid directly to another "eligible
retirement plan" in a "direct rollover transaction" as these terms are
defined in Sections [403(b) and 402(c)] of the Code.
In order to elect this option all of the following requirements must be
met.:
(a) The recipient of the distribution must be an eligible retirement
plan maintained for your benefit (or for your spousal beneficiary).
In your case, both an individual retirement arrangement ("IRA")
under Section 408 of the Code or another 403(b) arrangement is an
eligible retirement plan. In the case of a spousal beneficiary,
only an IRA qualifies as an eligible retirement plan which may
receive a direct rollover.
(b) The distribution must not include any after-tax contributions under
this Certificate.
No. 96ENTSAIL Page 2
<PAGE>
(c) The direct rollover option is not available to the extent that a
minimum distribution is required under [Section 401(a)(9) of the
Code] (see Item 8, below). We reserve the right to determine the
amount of the required minimum distribution. If you have elected a
payment option in Part VII of this Certificate which is either
paying substantially equal periodic payments for a period of ten
years or more, or a life annuity, the direct rollover option does
not apply to those same funds.
8. REQUIRED MINIMUM DISTRIBUTIONS:
["Required Minimum Distribution" payments for this Certificate must be
computed for the calendar year you turn age 70-1/2 and for each year
thereafter. The Required Minimum Distribution payments you compute must
start no later than April 1 of the calendar year after you turn age
70-1/2, except as otherwise noted in this Item 8.
If you have Transferred Funds described in Item 5 of this Endorsement,
payments of the amount of your December 31, 1986 account balance
transferred to this Certificate must begin by age 75 or, if later, your
separation from service.
You compute the Required Minimum Distribution payment for this
Certificate every year based on the method you choose. (We are not
required to compute your Required Minimum Distribution). Your Required
Minimum Distribution payment may be computed under any of the methods
permitted under Section [401(a)(9)] of the Code and applicable Treasury
Regulations, and payments must be made as required by those rules,
including "incidental death benefit" rules.
The Required Minimum Distribution rules are designed so that the amount
of your Annuity Account Value will be paid out over your life or life
expectancy or over the joint lives or joint life expectancies of you
and your named beneficiary. Life expectancy is computed by use of the
expected return multiples in Tables V and VI of Treasury Regulation
Section 1.72-9, or any other table prescribed by the Internal Revenue
Service. You may choose to recalculate your life expectancy annually.
If your spouse is your named beneficiary, you may also choose to
recalculate your spouse's life expectancy. You may not recalculate the
life expectancy of a beneficiary who is not a spouse.
Payments of your annual Required Minimum Distribution calculated for
this Certificate may be made from this Certificate or from another
403(b) arrangement that you maintain, if permitted by Internal Revenue
Service rules.
If you die after Required Minimum Distribution payments have begun, the
remaining amount of your Annuity Account Value must continue to be paid
at least as quickly as under the calculation and payment method being
used before your death.
If you die before Required Minimum Distribution payments begin, payment
of your Annuity Account Value must be completed no later than
December 31 of the calendar year in which the fifth anniversary of your
death occurs, except to the extent that a choice is made to receive
death benefit payments under (a) and (b) below:
(a) If payments are to be made to a beneficiary, then the
Annuity Account Value may be paid over the life or life
expectancy of the named beneficiary. Such payments must
begin on or before December 31 of the calendar year which
follows the year of your death.
(b) If the named beneficiary is your spouse, the date that
payments must begin under (a) above will not be before (i)
December 31 of the calendar year which follows the year of
your death or, if later, (ii) December 31 of the calendar
year in which you would have reached age 70-1/2.]
No. 96ENTSAIL Page 3
<PAGE>
9. SPOUSAL ANNUITY AND CONSENT RULES:
This Item 9 applies only if an ERISA Plan applies.
[If you are married, payments will be made in the form of a qualified
Joint and Survivor Annuity as defined in Section 417(b) of the Code. If
you are not married, payments will be made in the form of a Life
Annuity (as described in Section 7.02 of this Certificate), unless you
elect otherwise as described in this item. If you are married and die
before payments have begun, payments will be made to your surviving
spouse in the form of a Life Annuity unless at the time of your death
there was a contrary election made pursuant to this Item. However, your
surviving spouse may elect, before payment is to commence, to have
payment made in any form permitted under the terms of the Contract and
the Plan.
You may elect pursuant to the Plan and ERISA not to have payments made
in the form of a qualified Joint or Survivor annuity or Life Annuity as
the case may be. In that case it will be paid in any other form elected
under the terms of the Contract and the Plan. If payments are to be
made to your spouse upon your death, your spouse may elect in
accordance with the Plan and ERISA for a beneficiary other than the
spouse to receive payments.
If you will not attain age 35 by the end of the current Plan year, you
may make a special election to name a beneficiary other than the spouse
to receive payment of the value of your interest. Such election will be
effective for the period beginning on the date of such election and
ending on the first day of the Plan year in which you will attain age
35. The elections will cease to be effective as of the first day of the
Plan year in which you attain age 35 unless a new election naming a
beneficiary other than the spouse is made pursuant to the terms of this
Item 9.
Any such election must be consented to by your spouse, if applicable,
in writing before a notary or a representative of the Plan and must be
limited to a benefit for a specific alternate beneficiary. However, no
spousal consent will be required if you can prove to the satisfaction
of the Employer and us, that you have no spouse or that you cannot
locate the spouse. Also, if you have become legally separated from the
spouse or have been abandoned (within the meaning of local law) and
have a court order to such effect, spousal consent is not required
unless a qualified domestic relations order provide otherwise. Each
election to designate a beneficiary other than your spouse must be
consented to by your spouse and any election made under this paragraph
to waive the spouse's benefits may be revoked without the consent of
the spouse at any time prior to the date as of which payments commence.
Any consent to waive the spouse's benefits will be valid only with
regard to the spouse who signs it. Any new waiver or change of
beneficiary will require new spousal consent.
The provisions requiring spousal consent in this item will also apply
with regard to your election to take any in-service withdrawal under
the terms of the Plan and will also apply to withdrawals for loans as
described in Item 10 below. A spouse's written consent, witnessed by a
representative of the Plan or a notary, must be given on a form
acceptable to the Employer and us, in accordance with the Plan and
ERISA, prior to any such withdrawal or loan, unless you can show that
there is no spouse or that the spouse cannot be located.]
If the Annuity Account Value applied to provide the spousal benefits on
the date payment is to commence is in the aggregate less than [$3,500],
you may choose to make payment in a single sum rather than in the form
of a qualified Joint and Survivor Annuity or Life Annuity as described
herein. Upon any payment made pursuant to this item, we will be
released from any and all liability for payment with respect to the
Annuity Account Value.
10. LOANS:
No. 96ENTSAIL Page 4
<PAGE>
A. GENERAL:
You may request a loan, subject to the terms of this Item 10. Your
loan is subject to the terms of the Plan, if applicable, and the
Code. Future restrictions in the Code may require changes in the
terms and availability of loans.
We reserve the right not to permit a new loan if you have
previously defaulted on a loan and have not repaid the amount due.
A loan is effective on the date we specify, according to our then
current procedures, after we approve your Loan Request Form. Your
Loan Request Form together with your loan confirmation notice will
be your loan agreement and will contain all the terms of the loan
which apply, including amount of the loan, interest rate and the
payment due.
Only one outstanding loan is permitted at a time under this
Certificate.
B. LOAN AMOUNT:
The minimum loan amount will be stated on the Loan Request Form.
In no event will the minimum amount of a loan be less than
[$1000]. The maximum amount of a loan will be determined as
described in the next paragraph subject in all cases only to the
maximum amount which may be described in the Code.
As a condition for making a loan, we will require you to state
that the loan amount requested, together with loans (principal
plus interest) from all other plans of your Employer, does not
exceed the maximum amount permitted under the Code.
The amount of the loan may not be more than the lesser of (A) or
(B) below:
(A) [$50,000,] less the highest outstanding balance of loans
under any plan of your Employer during the one-year-period
ending the day before the Loan Effective Date, over the
outstanding balance of loans under any plan of your Employer
on the Loan Effective Date.
(B) the greater of (i) one half the present value of your
nonforfeitable accrued benefit under all plans of your
Employer or (ii) [$10,000.]
C. LOAN TERM:
The loan term will be [five years.] If you state on the Loan
Request Form that the purpose of the loan is to purchase your
principal residence, your loan term will be [ten years.] Repayment
of the loan may be accelerated and full repayment of unpaid
principal and interest will be required upon the earliest of (i)
the election and commencement of Annuity Benefits under Section
7.03 of the Certificate, (ii) the date the Certificate terminates
pursuant to Section 5.02, (iii) the date we pay a death benefit
pursuant to Section 6.01 of the Certificate, or (iv) any date
where we determine the Code requires acceleration of the loan
repayment so that the Federal income tax status of your TSA
Certificate is not adversely affected.
D. LOAN RESERVE ACCOUNT:
On the Loan Effective Date, we will transfer to a loan reserve
account an amount equal to the sum of (i) the loan amount, which
will earn interest at the "Loan Reserve Account Rate" during the
loan term and (ii) 25% of the loan amount, which will earn
interest at the Guaranteed Interest Rate, as defined in the
Certificate. You may not make any partial
No. 96ENTSAIL Page 5
<PAGE>
withdrawals or transfers from the Loan Reserve Account until after
repayment. You may specify on your Loan Request Form from which
Investment Option(s) the Loan Reserve Account will be funded.
The "Loan Reserve Account Rate" will equal the loan interest rate
(see item 3 below) minus [2%], or such other percentage which is
determined according to our then current procedures and which is
not greater than permitted under any current applicable state or
federal law.
E. LOAN INTEREST RATE:
(i) This item (I) applies to your TSA Certificate if an ERISA Plan
does not apply.
We will from time to time set the effective annual rate at
which interest on a loan will accrue daily (the "loan
interest rate"). Such rate will be not greater than any
maximum rate required under any current applicable state or
federal law.
(ii) This item (ii) applies if an ERISA Plan applies to your TSA
Certificate.
We will from time to time determine the loan interest rate at
which interest on a loan will accrue daily; however, if
requested by the Employer, we will substitute the rate
requested by the Employer, subject to any limitations imposed
by law. The rate so determined by us will be a reasonable
rate set in accordance with [Department of Labor Regulations
255.408b-1(e),] and will be based on prevailing rates
available at the date of determination on loans charged by
persons in the business of lending money for loans which
would be made under similar circumstances.
F. REPAYMENTS:
The loan must be repaid according to the repayment schedule, which
will require that substantially level amortization payments of
principal and interest be made no less frequently than quarterly,
unless otherwise required or permitted by law. The rate so
determined by us will be a reasonable rate set in accordance with
[Department of Labor Regulation 2550.408b-1(e),] and will be based
on prevailing rates available at the date of determination on
loans charged by persons in the business of lending money for
loans which would be made under similar circumstances.
G. DEFAULT:
By each due date (or a specified date thereafter according to our
then current procedures) if the amount of the loan payment is less
than the amount due or the loan payment is not received at our
Processing Office we will deduct and treat as a partial withdrawal
from the loan reserve account an amount equal to the interest and
principal payments due. We reserve the right, however, to change
our procedures at any time (subject to the terms of the Code) so
that the amount of the unpaid balance of the loan at that time,
including interest due but not paid, will be treated as a deemed
distribution for Federal income tax purposes.
If the amount in the loan reserve account is not subject to the
restrictions described in Item 6 of this Endorsement,on your
default we reserve the right to deduct from the loan reserve
account an amount equal to the interest and principal payments
due. We also reserve the right to deduct any Withdrawal Charges
that apply and any required tax withholding.
No. 96ENTSAIL Page 6
<PAGE>
If the amount in the loan reserve account is not subject to the
restrictions described in Item 6 of this Endorsement, on your
default we will designate in the loan reserve account an amount
equal to the unpaid balance (interest and principal payments due)
at the time of the default. When your Certificate is no longer
subject to the withdrawal restrictions of Item 6, we will have the
right to foreclose on this amount, and deduct any Withdrawal
Charges that would have applied at the time of the default, plus
any interest due, and any required tax withholding. This will be
no later than the date you attain age 59-1/2 or we are notified in
writing that another event has occurred which would permit
Restricted Amounts to be paid. (Such an event includes separation
from service, disability or death.)
H. CHANGES:
We have the right to change the loan terms, as long as any such
change is made to maintain compliance with the terms of any law
that applies to the TSA Certificate.
11. ASSIGNMENTS (SECTION 9.05):
No amount to be paid under the Certificate may be assigned, commuted,
or encumbered by the payee. To the extent permitted by law, no such
amount will in any way be subject to any legal process to subject the
same to the payment of any claim against such payee. The foregoing will
not apply to any assignment, transfer or attachment pursuant to a
qualified domestic relations order as defined in section [414(p)] of
the Code. No interest under the Certificate may be transferred to any
persons others than us upon surrender of such interest.
No. 96ENTSAIL Page 7
<PAGE>
[Page 8 to TSA Endorsement]
[To be added for Certificates issued to participants in the Texas Optional
Retirement Program]
[Notwithstanding any provisions in this Certificate or the Contract to the
contrary, the following restrictions apply, pursuant to Texas law, if you are a
participant in the Texas Optional Retirement Program (TORP).
1. Withdrawals are available under TORP only after one of the following occurs:
a. the requirements for minimum distribution under Section 403(b)(10)
of the Code, as described in Item 8 of this Endorsement, are met;
or
b. termination of participation due to death, retirement or
termination of employment in all Texas public institutions of
higher education, as defined under Texas law.
2. Benefits in TORP vest after one year of participation. If you die,
retire or terminate your employment in all Texas public institutions of
higher education before being vested, any amounts provided by your
employer's first-year matching contribution will be refunded to the
employer.
3. Withdrawals under TORP cannot be made until we receive a written
statement from your employer verifying your vesting status and that you
are no longer a participant under TORP.
4. We reserve the right to change these provisions without your consent,
but only to the extent necessary to maintain compliance with the laws
and regulations applicable to TORP.
5. No loans are available under TORP.
6. We are responsible for qualified domestic relations orders.]
No. 96ENTSAIL Page 8
<PAGE>
This Certificate is hereby amended, effective as of its issue date, by adding
the attached TABLE OF GUARANTEED ANNUITY PAYMENTS as part of the Certificate.
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
/s/ James M. Benson /s/ Pauline Sherman
President and Chief Executive Officer Vice President, Secretary and
Associate General Counsel
No. RD941CTSA
<PAGE>
TABLE OF GUARANTEED ANNUITY PAYMENTS
[APPLICABLE TO CERTIFICATES OTHER THAN IRA AND NON-QUALIFIED]
Amount of Annuity Benefit payable monthly on the Joint and Survivor Life Annuity
form (with 100% of the amount of the Annuitant's payment continued to the
Annuitant's spouse) provided by an application of $1,000.
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
[Age 60 61 62 63 64 65 66 67 68 69 70
60 3.32 3.35 3.37 3.40 3.42 3.44 3.46 3.48 3.50 3.52 3.54
61 3.37 3.40 3.42 3.45 3.47 3.50 3.52 3.54 3.56 3.58
62 3.43 3.45 3.48 3.50 3.53 3.55 3.58 3.60 3.62
63 3.48 3.51 3.54 3.56 3.59 3.62 3.64 3.67
64 3.54 3.57 3.60 3.63 3.65 3.68 3.71
65 3.60 3.63 3.66 3.69 3.72 3.75
66 3.66 3.70 3.73 3.76 3.79
67 3.73 3.77 3.80 3.83
68 3.80 3.84 3.88
69 3.88 3.92
70 3.96
</TABLE>
The amount of income provided under an Annuity Benefit payable on the Joint and
Survivor Life Annuity form is based on 2.5% interest and the 1983 Individual
Annuity Mortality Table "a" projected with modified Scale G, adjusted to a
unisex basis, reflecting a 20% - 80% split of males and females at pivotal age
55.
Amounts required for ages not shown in the above Table or for other annuity
forms will be calculated by Equitable on the same actuarial basis.
If a variable annuity form is available from Equitable and elected pursuant to
Section 7.02, then the amounts required will be calculated by us based on the
1983 Individual Annuity Mortality Table "a" projected with modified Scale "G"
and a modified two year age setback and a 20% - 80% split of males and females
at age 55 and on an Assumed Base Rate of Net Investment Return of 3.5%/5.0%.]
No. 94IC
Part A -- This part lists your personal data
Owner:
Annuitant:
Certificate Number:
Endorsement Attached: No. 94ENMVAI
No. 94ENIRAI
98ROTH
Issue Date:
Contract Date:
Annuity Commencement Date:
The maximum maturity age is 90--see section 7.03
Beneficiary:
Contract: Group Annuity Contract No. 6727
NO. 94ICA DATA PAGE 1
<PAGE>
PART B (CONT'D.) THIS PART LISTS THE CONTRACT TERMS WHICH AFFECT THE TYPE OF
CONTRACT YOU HAVE.
Initial Guaranteed Interest Rate:
Minimum Guaranteed Interest Rate:
Investment Options available (see Part II); your allocation percentage (until
changed) is also shown:
<TABLE>
Investment Option Type* Allocation Percentage**
- ------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
HRT FUNDS:
Alliance Common Stock Fund Type A
Alliance Balanced Fund Type A
Alliance Aggressive Stock Fund Type A
Alliance Global Fund Type A
Alliance Growth Investors Fund Type A
Alliance Growth and Income Fund Type A
Alliance Equity Index Fund Type A
Alliance International Fund Type A
Alliance Small Cap Growth Fund Type A
Alliance Conservative Investors Fund Type B
Alliance High Yield Fund Type B
Alliance Intermediate Government Securities Fund Type B
Alliance Money Market Fund Type B
Alliance Quality Bond Fund Type B
EQ ADVISOR TRUST FUNDS:
T. Rowe Price International Stock Fund Type A
T. Rowe Price Equity Income Fund Type A
EQ/Putnam Growth & Income Value Fund Type A
EQ/Putnam Balanced Fund Type A
MFS Research Fund Type A
MFS Emerging Growth Companies Fund Type A
Morgan Stanley Emerging Markets Equity Fund Type A
Warburg Pincus Small Company Value Fund Type A
Merrill Lynch World Strategy Fund Type A
Merrill Lynch Basic Value Equity Fund Type A
GENERAL ACCOUNT FUND:
Guaranteed Interest Account N/A
FIXED MATURITY ACCOUNT:
Guarantee Periods*** Type B
</TABLE>
Expiration Date and Guaranteed Rate
* All Type A and B Funds are Investment Funds of Separate Account A,
except for the Fixed Maturity Account which is Separate Account No. 46.
** See Section 3.01
*** Guarantee Periods are offered with varying expiration dates spanning an
approximate 10 year period.
We reserve the right to limit the availability of Investment Options to not less
than four investment funds as described in Section 2.04.
NO. 94ICA DATA PAGE 3
<PAGE>
PROCESSING DATES (SEE SECTION 1.20): A Processing Date is generally the last
business day of each Contract Year, but may be any other date on which a fee is
deducted from the Annuity Account Value in accordance with Section 8.02.
CONTRIBUTION LIMITS (SEE SECTION 3.02): In addition to the maximum limits set by
law as described in the endorsement hereto, we may refuse to accept any
Contribution which is less than $50.
TRANSFER RULES (SEE SECTION 4.02):
If you have elected the Guaranteed Interest Account and any Type B Investment
Option, whether or not amounts have actually been placed in any such Option,
then the maximum amount which may be transferred from the Guaranteed Interest
Account to any other Investment Option in any Contract Year is:
o (a) 25% of the amount you have in the Guaranteed Interest Account on the last
day of the prior Contract Year or, if greater,
o (b) the total of all amounts transferred at your request from the Guaranteed
Interest Account to any of the other Investment Options in the prior
Contract Year.
MINIMUM TRANSFER AMOUNT (SEE SECTION 4.02): $300 or the Annuity Account Value if
less.
TRANSFER CHARGES - NUMBER OF FREE TRANSFERS IN A CONTRACT YEAR (SEE SECTION
4.02): Unlimited.
We will deduct a $25 charge per occurrence for a direct transfer to a third
party of amounts under your Contract or an exchange for another contract of
another carrier.
MINIMUM AMOUNT OF ANNUITY ACCOUNT VALUE AFTER A WITHDRAWAL (SEE SECTION
5.02(a)): $500.
DEATH BENEFIT AMOUNT (SEE SECTION 6.01) -- SUBJECT TO THE TERMS, IF ANY, IN THE
ENDORSEMENT CONCERNING A SUCCESSOR ANNUITANT AND OWNER:
The Annuity Account Value or, if greater, the sum of all Contributions made,
less
o any tax charge that applies and
o the sum of all prior withdrawals.
NO. 94ICA DATA PAGE 4
<PAGE>
NORMAL FORM OF ANNUITY (SEE SECTION 7.02):
Joint and Survivor Life Annuity Form.
MINIMUM AMOUNT TO BE APPLIED FOR AN ANNUITY (SEE SECTION 7.06):
$2,000, as well as minimum of $20 for initial annuity payment.
INTEREST RATE TO BE APPLIED FOR MISSTATEMENT OF AGE OR SEX (SEE SECTION 7.06):
6% per year.
WITHDRAWAL CHARGE (SEE SECTION 8.01):
6% of Contributions withdrawn, which were made in the current and 5 prior
Contract Years. The amount of this Charge is subject to change for future
Contributions; however, the amount will not exceed 8% of Contributions
withdrawn.
The first-in, first-out basis described in Section 8.01 applies.
FREE CORRIDOR AMOUNT (SEE SECTION 8.01):
10% of Annuity Account Value on the Transaction Date minus withdrawals made in
the current Contract Year.
NO WITHDRAWAL CHARGES WILL APPLY IN THESE EVENTS:
1. the Annuitant has completed at least 6 Contract Years and has attained age
59 1/2;
2. the Annuitant dies and a death benefit is payable to the beneficiary;
3. the receipt by us of a properly completed election form providing for the
Annuity Account Value to be used to buy a life annuity as described in
Section 7.03;
4. in the event any of these conditions apply:
a. the Annuitant has qualified to receive Social Security disability
benefits as certified by the Social Security Administration;
b. you give us proof that the Annuitant's life expectancy is six months or
less (such proof must include, but is not limited to, certification by
a licensed physician);
c. the Annuitant has been confined to a nursing home for more than 90 days
as verified by a licensed physician. A nursing home for this purpose
means one which is (i) approved by Medicare as a provider of skilled
nursing care service, or
NO. 94ICA DATA PAGE 5
<PAGE>
(ii) licensed as a skilled nursing home by the state or territory in
which it is located (it must be within the United States, Puerto Rico,
U.S. Virgin Islands, or Guam and meets all of the following:
o its main function is to provide skilled, intermediate or custodial
nursing care;
o it provides continuous room and board to three or more persons;
o it is supervised by a registered nurse or practical nurse;
o it keeps daily medical records of each patient;
o it controls and records all medications dispensed; and
o its primary service is other than to provide housing for residents.
The withdrawal charge will apply with respect to a Contribution if the
Condition as described in this item (4) existed at the time the
Contribution was remitted or if the condition began within the 12 month
period following remittance.
5. request is made for a refund of a contribution in excess of amounts allowed
to be contributed under Section 408 of the Code within one month of the
date on which the contribution is made.
ADMINISTRATIVE AND OTHER CHARGES DEDUCTED FROM ANNUITY ACCOUNT VALUE (SEE
SECTION 8.02):
The lesser of $30 or 2% of the Annuity Account Value including the amount of any
withdrawals pursuant to Section 5.01 made during that year for the first two
Contract Years, and $30 for each Contract year thereafter. This amount may be
increased to a maximum of $65 in accordance with Section 8.02. It will be
withdrawn from the Investment Options on a pro-rata basis unless you designate
otherwise.
No Administrative Charge will apply if the Annuity Account Value is more than
$20,000.
Premium taxes are generally incurred at annuitization and a charge for such
taxes will then be deducted from the Annuity Account Value. Some jurisdictions
impose a premium tax at the time each Contribution is made.
If withdrawals are made as described in Section 5.01 prior to the Annuity
Commencement Date, any applicable tax charges we have paid with respect to your
Certificate will be deducted. If we have previously deducted charges for
applicable taxes from Contributions, we will not again deduct charges for the
same taxes on withdrawals on withdrawals, unless a change in applicable law has
occurred.
DAILY SEPARATE ACCOUNT CHARGE (SEE SECTION 8.04):
1.35%; this is subject to change as described in Sections 8.04 and 8.05, subject
to a maximum of 2.00%. This Charge is for financial accounting and for death
benefits, mortality risk expenses and expense risk that we assume.
NO. 94ICA DATA PAGE 6
<PAGE>
PART C - THIS PART LISTS THE TERMS WHICH APPLY TO THE MARKET VALUE ADJUSTMENT
TERMS ENDORSEMENT.
DEATH BENEFIT AMOUNT: The larger of (a) the Annuity Account Value in Separate
Account No. 48 and (b) the Guaranteed Period Amount.
TRANSFER RULES (SEE SECTION 4.02):
The minimum amount which may be transferred from the Guaranteed Period Amount,
after the initial allocation, is $300 or the Guaranteed Period Amount, if less.
Transfers at Expiration Date (see item 1 of Endorsement): if no election is made
with respect to amounts in the Guaranteed Period Account as of the Expiration
Date, such amounts will be transferred into the Money Market Fund.
MVA FORMULA (SEE ITEM 3 OF ENDORSEMENT): The current rate percentage we use in
item (c) of the formula is a maximum of 0.50%. If we are no longer offering new
Guarantee Periods, we will use a rate equal to the most recent Moody's Corporate
Bond Yield Average - Monthly Average Corporates, for the duration required, as
published by Moody's Investor Services, Inc. If such Moody's rate is not
available, a rate based on a substantially similar average will be used.
NO. 94ICA DATA PAGE 7
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
This Certificate is hereby amended, effective as of its Issue Date, in order
that the terms of the attached "Roth IRA Endorsement" will apply,
notwithstanding any terms to the contrary contained in this Certificate.
NEW YORK,
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
/s/ Edward Miller /s/ Pauline Sherman
Chairman and Chief Executive Officer Vice President, Secretary and
Associate General Counsel
NO. 98ROTH
<PAGE>
"ROTH IRA ENDORSEMENT"
Endorsement Applicable to Roth IRA Certificates
When issued with this Endorsement, this Certificate is a "Roth IRA Certificate"
which is issued as an individual retirement annuity contract which meets the
requirements of Sections 408A and 408(b) of the Code. It is established for the
exclusive benefit of you and your beneficiaries, and the terms below change, or
are added to, the applicable provisions of this Certificate. Also your entire
interest under the Certificate is not forfeitable.
I. DEFINITIONS
-----------
The following apply in addition to or in lieu of corresponding
definitions in the Certificate.
ANNUITANT. You must be both the Annuitant and the Owner.
ANNUITY COMMENCEMENT DATE. You may not choose an Annuity Commencement
Date later than our maximum maturity age (currently age 90, unless a
different age is required by State law), and any period certain you
select must conform to IRS life expectancy tables in Treasury
Regulations Section 1.72-9.
CODE. When used in this Endorsement references to the Code include
references to applicable tax Regulations.
CONTRIBUTIONS. Contributions are subject to the limits of Section 408A
of the Code.
OWNER. The Annuitant is the Owner of the Certificate and cannot be
changed.
II. LIMITS ON CONTRIBUTIONS
-----------------------
No Contributions will be accepted unless they are in United States cash
(including checks). We reserve the right to accept electronic cash
which meets our specifications.
Except in the case of a rollover or direct transfer Contribution
discussed below which meets the requirements of Section 408A of the
Code, the total of your Contributions will not exceed the maximum total
under Section 408A(c)(2) of the Code for any taxable year.
A "rollover contribution" is one permitted by Section 408A(e) and
408(d)(3) of the Code.
Roth IRA to Roth IRA Rollover Contributions. You may make a qualified
rollover contribution as permitted by Sections 408A(e) and 408(d) of
the code from another Roth IRA. There are no limits on the amount
rolled over; however, you may be required to designate the taxable year
in which you converted any non-Roth IRA funds into Roth IRA funds.
Direct Transfer Contributions. You may make a Contribution of a direct
transfer of funds from another Roth IRA under Section 408A of the code.
There are no limits on the amount transferred; however, you may be
required to designate the taxable year in which you converted any
non-Roth IRA funds into Roth IRA funds.
Non-Roth IRA to Roth IRA Rollover Contributions ("Conversion
Contributions"). If you meet the modified adjusted gross income limits
specified in Section 408A, you may make a qualified rollover
contribution as permitted by Section 408A(c)(3)(B) of the Code and
Sections 408A(e) and 408(d)(3) of the Code from another individual
retirement plan under Section 408 of the Code which is not a Roth IRA.
There are no limits on the amounts rolled over. We reserve the right to
require you to designate the year to which such a conversion of
non-Roth IRA funds applies.
Rollovers are not permitted from SEP-IRAs under Section 408(k) of the
Code or SIMPLE IRAs under Section 408(p) of the Code.
NO. 98ROTH
<PAGE>
If we determine that any Contributions would cause this Certificate not
to qualify under Sections 408A or 408(b) of the Code, we reserve the
right to either (i) refuse to accept any such Contributions or (ii)
apply such Contributions to a nonqualified deferred annuity contract or
certificate for the exclusive benefit of you and your beneficiaries.
III. DEATH BENEFITS
--------------
Under the following circumstances, the death benefit described in this
Certificate will not be paid at your death before the Annuity
Commencement Date, and the coverage under the Certificate will continue
with your surviving spouse as Successor Owner and Annuitant.
1. You are married at your death.
2. The person named as death beneficiary is your surviving
spouse.
3. You or your spouse at your death have additionally
requested, in accordance with our procedures then in effect,
that your spouse become "Successor Owner and Annuitant" of
your Certificate-if your spouse survives you.
MINIMUM DISTRIBUTION RULES - DEATH BENEFIT. This Certificate is subject
to these "Required Payment" or "Minimum Distribution" rules of Section
408(b) and 401(a)(9) of the Code and the Treasury Regulations which
apply.
If you die after distribution of your interest in this Certificate has
begun, the remaining portion of such interest will continue to be
distributed at least as rapidly as under the method of distribution
being used prior to your death.
If you die after distribution of your interest in this Certificate
begins, distribution of your entire interest shall be completed no
later than December 31 of the calendar year containing the fifth
anniversary of your death, except to the extent that an election is
made to receive death benefit distributions in accordance with (1) or
(2) below:
(1) If your interest is payable to a designated
beneficiary, then your entire interest may be
distributed over the life of, or over a period
certain not greater than the life expectancy of, the
designated beneficiary. Such distributions must
commence on or before December 31 of the calendar
year immediately following the calendar year of your
death.
(2) If the designated beneficiary is your surviving
spouse, the date that distributions are required to
begin in accordance with (1) above shall not be
earlier than the later of (a) December 31 of the
calendar year immediately following the calendar year
of your death or (b) December 31 of the calendar year
in which you would have attained age 70 1/2.
If the designated beneficiary is your surviving spouse, and a Successor
Annuitant and Owner option (described above in this Endorsement under
DEATH BENEFITS) is in effect, the distribution of your interest need
not be made until after your spouse's death.
For purposes of determining the "period certain" referred to above,
life expectancy is computed by use of the expected return multiples in
Tables V and VI of Treasury Regulation Section 1.79-9. For purposes of
distributions beginning after your death, unless otherwise elected by
the surviving spouse by the time distributions are required to begin,
life expectancies shall be recalculated annually. Such election shall
be irrevocable by the surviving spouse and shall apply to all
subsequent years. In the case of any other designated beneficiary, life
expectancies shall be calculated using the attained age of such
beneficiary during the calendar year in which distributions are
required to begin, pursuant to this Item, and payments for any
subsequent calendar year shall be calculated based on such life
expectancy reduced by one for each calendar year which has elapsed
since the calendar year life expectancy was first calculated.
NO. 98ROTH
<PAGE>
Distributions under this Item are considered to have begun if
distributions irrevocably commence to you over a period permitted and
in any annuity form acceptable under Section 1.40(a)(9)-1 of the
Proposed Treasury Regulations or any successor Regulation thereto.
IV. ANNUITY BENEFITS
----------------
This Certificate will begin to pay out as an Annuity for your life on
the Annuity Commencement Date you select on the application unless you
indicate to us another form of payment before such payments commence.
If you or your beneficiary (as described in Item III above) selects a
period certain form of payment, no period certain can be longer than
applicable life expectancy under IRS tables in Treasury Regulations
Section 1.72-9.
V. GENERAL PROVISIONS
------------------
TERMINATION OF CERTIFICATE
If this Certificate fails to qualify as a Roth individual retirement
annuity under Sections 408A and 408(b) of the Code, we will have the
right to terminate the Certificate. We may do so, upon receipt of
notice of such fact, before the Annuity Commencement Date. In that
case, we have the right to pay the Annuity Account Value less a
deduction for the part which applies to any Federal income tax payable
by you which would not have been payable with respect to a Roth
individual retirement annuity which meets the terms of Sections 408A
and 408(b) of the Code.
REPORTS AND NOTICES
We will send you a report as of the end of each calendar year showing
the status of the Certificate and any other reports required by the
Code.
ASSIGNMENTS, NONTRANSFERABILITY, NONFORFEITABILITY
Your rights under this Certificate may not be assigned, pledged or
transferred except as permitted by law. You may not name a new Owner,
except as described in this Endorsement in relation to DEATH BENEFITS.
NO. 98ROTH
Part A - This part lists your personal data
Owner:
Annuitant:
Certificate Number:
Endorsements Attached: No. 94ENMVAI
No. 94ENIRAI
98ROTH
Issue Date:
Contract Date:
Annuity Commencement Date:
The maximum maturity age is 90 -- see section 7.03
Beneficiary:
Contract: Group Annuity Contract No. 6727
No. 94ICA DATA PAGE 1
<PAGE>
PART B (CONT'D.) THIS PART LISTS THE CONTRACT TERMS WHICH AFFERT THE
TYPE OF CONTRACT YOU HAVE.
Initial Guaranteed Interest Rate:
Minimum Guaranteed Interest Rate:
Investment Options available (see Part II); your allocation percentage
(until changed) is also shown:
<TABLE>
<CAPTION>
Investment Option Type* Allocation Percentage**
- ----------------------------------------------------------------------------------------------------
<S> <C>
HRT FUNDS:
Alliance Common Stock Fund Type A
Alliance Balanced Fund Type A
Alliance Aggressive Stock Fund Type A
Alliance Global Fund Type A
Alliance Growth Investors Fund Type A
Alliance Growth and Income Fund Type A
Alliance Equity Index Fund Type A
Alliance International Fund Type A
Alliance Small Cap Growth Fund Type A
Alliance Conservative Investors Fund Type B
Alliance High Yield Fund Type B
Alliance Intermediate Government Securities Fund Type B
Alliance Money Market Fund Type B
Alliance Quality Bond Fund Type B
EQ ADVISOR TRUST FUNDS:
T. Rowe Price International Stock Fund Type A
T. Rowe Price Equity Income Fund Type A
EQ/Putnam Growth & Income Value Fund Type A
EQ/Putnam Balanced Fund Type A
MFS Research Fund Type A
MFS Emerging Growth Companies Fund Type A
Morgan Stanley Emerging Markets Equity Fund Type A
Warbug Pincus Small Company Value Fund Type A
Merrill Lynch World Strategy Fund Type A
Merrill Lynch Basic Value Equity Fund Type A
GENERAL ACCOUNT FUND:
Guaranteed Interest Account N/A
FIXED MATURITY ACCOUNT:
Guarantee Periods***
Expiration Date and Guaranteed Rate Type B
</TABLE>
* All Type A and B Funds are Investment Funds of Separate Account A, except
for the Fixed Maturity Account which is Separate Account No. 46
** See Section 3.01
*** Guarantee Periods are offered with varying expiration dates spanning an
approximate 10 year period. We reserve the right to limit the availability
of Investment Options to not less than four investment funds as described
in Section 2.04.
No. 94ICA DATA PAGE 3
<PAGE>
PROCESSING DATES (SEE SECTION 1.20): A Processing Date is generally the last
business day of each Contract Year, but may be any other date on which a fee is
deducted from the Annuity Account Value in accordance with Section 8.02.
CONTRIBUTION LIMITS (SEE SECTION 3.02): In addition to the maximum limits set by
law as described in the endorsement hereto, we may refuse to accept any
Contribution which is less than $50.
TRANSFER RULES (SEE SECTION 4.02):
If you have elected the Guaranteed Interest Account and any Type B Investment
Option, whether or not amounts have actually been placed in any such Option,
then the maximum amount which may be transferred from the Guaranteed Interest
Account to any other Investment Option in any Contract Year is:
o (a) 25% of the amount you have in the Guaranteed Interest Account on the
last day of the prior Contract Year or, if greater,
o (b) the total of all amounts transferred at your request from the
Guaranteed Interest Account to any of the other Investment Options in the
prior Contract Year.
MINIMUM TRANSFER AMOUNT (SEE SECTION 4.02): $300 or the Annuity Account Value if
less.
TRANSFER CHARGES - NUMBER OF FREE TRANSFERS IN A CONTRACT YEAR (SEE SECTION
4.02): Unlimited
We will deduct a $25 charge per occurrence for a direct transfer to a third
party of amounts under your Contract or an exchange for another contract of
another carrier.
MINIMUM AMOUNT OF ANNUITY ACCOUNT VALUE AFTER A WITHDRAWAL (SEE SECTION
5.02(A)): $500
DEATH BENEFIT AMOUNT (SEE SECTION 6.01) -- SUBJECT TO THE TERMS, IF ANY, IN THE
ENDORSEMENT CONCERNING A SUCCESSOR ANNUITANT AND OWNER:
The Annuity Account Value or, if greater, the sum of all Contributions made,
less
o any tax charge that applies and
o the sum of all prior withdrawals
No. 94ICA DATA PAGE 4
<PAGE>
NORMAL FORM OF ANNUITY (SEE SECTION 7.02):
Joint and Survivor Life Annuity Form
MINIMUM AMOUNT TO BE APPLIED FOR AN ANNUITY (SEE SECTION 7.06):
$2,000, as well as minimum of $20 for initial annuity payment.
INTEREST RATE TO BE APPLIED FOR MISSTATEMENT OF AGE OR SEX (SEE SECTION 7.06)
6% per year.
WITHDRAWAL CHARGE (SEE SECTION 8.01):
6% of Contributions withdrawn, which were made in the current and 5 prior
Contract Years. The amount of this Charge is subject to change for future
Contributions; however, the amount will not exceed 8% of Contributions
withdrawn, nor will it apply to Contributions made earlier than the 12 Contract
Years which precede the date of withdrawal.
The first-in, first-out basis described in Section 8.01 applies.
FREE CORRIDOR AMOUNT (SEE SECTION 8.01):
10% of Annuity Account Value on the Transaction Date minus withdrawals made in
the current Contract Year.
NO WITHDRAWAL CHARGES WILL APPLY IN THESE EVENTS:
1. the Annuitant has completed at least 5 Contract Years and has attained age
59 1/2;
2. the Annuitant dies and a death benefit is payable to the beneficiary;
3. the receipt by us of a properly completed election form providing for the
Annuity Account Value to be used to buy a life annuity as described in
Section 7.03;
4. in the event any of these conditions apply:
a. the Annuitant has qualified to receive Social Security disability
benefits as certified by the Social Security Administration;
b. you give us proof that the Annuitant's life expectancy is six months or
less (such proof must include, but is not limited to, certification by
a licensed physician);
c. the Annuitant has been confined to a nursing home for more than 90 days
as verified by a licensed physician. A nursing home for this purpose
means one which is (i) approved by Medicare as a provider of skilled
nursing care service, or
No. 94ICA DATA PAGE 5
<PAGE>
(ii) licensed as a skilled nursing home by the state or territory in
which it is located (it must be within the United States, Puerto Rico,
U.S. Virgin Islands, or Guam and meets all of the following:
o its main function is to provide skilled, intermediate or custodial
nursing care;
o it provides continuous room and board to three or more persons;
o it is supervised by a registered nurse or practical nurse;
o it keeps daily medical records of each patient;
o it controls and records all medications dispensed; and
o its primary service is other than to provide housing for
residents.
The withdrawal charge will apply with respect to a Contribution if the
condition as described in this item (4) existed at the time the
Contribution was remitted or if the condition began within the 12 month
period following remittance.
5. request is made for a refund of a contribution in excess of amounts allowed
to be contributed under Section 408 of the Code within one month of the
date on which the contribution is made.
ADMINISTRATIVE AND OTHER CHARGES DEDUCTED FROM ANNUITY ACCOUNT VALUE (SEE
SECTION 8.02):
The lesser of $30 or 2% of the Annuity Account Value including the amount of any
withdrawals pursuant to Section 5.01 made during that year for the first two
Contract Years, and $30 for each Contract Year thereafter. This amount may be
increased to a maximum of $65 in accordance with Section 8.02. It will be
withdrawn from the Investment Options on a pro-rata basis unless you designate
otherwise.
No Administrative Charge will apply if the Annuity Account Value is more than
$20,000.
Premium taxes are generally incurred at annuitization and a charge for such
taxes will then be deducted from the Annuity Account Value. Some jurisdictions
impose a premium tax at the time each Contribution is made.
If withdrawals are made as described in Section 5.01 prior to the Annuity
Commencement Date, any applicable tax charges we have paid with respect to your
Certificate will be deducted. If we have previously deducted charges for
applicable taxes from Contributions, we will not again deduct charges for the
same taxes on withdrawals unless a change in applicable law has occurred.
DAILY SEPARATE ACCOUNT CHARGE (SEE SECTION 8.04):
1.45%; this is subject to change as described in Sections 8.04 and 8.05, subject
to a maximum of 2.00%. This Charge is for financial accounting and for death
benefits, mortality risk expenses and expense risk that we assume.
No. 94ICA DATA PAGE 6
<PAGE>
PART C - THIS PART LISTS THE TERMS WHICH APPLY TO THE MARKET VALUE ADJUSTMENT
TERMS ENDORSEMENT.
DEATH BENEFIT AMOUNT: The larger of (a) the Annuity Account Value in Separate
Account No. 48 and (b) the Guaranteed Period Amount.
TRANSFER RULES (SEE SECTION 4.02):
The minimum amount which may be transferred from the Guaranteed Period Amount,
after the initial allocation, is $300 or the Guaranteed Period Amount, if less.
Transfers at Expiration Date (see item 1 of Endorsement): If no election is made
with respect to amounts in the Guaranteed Period Account as of the Expiration
Date, such amounts will be transferred into the Money Market Fund.
MVA FORMULA (SEE ITEM 3 OF ENDORSEMENT): The current rate percentage we use in
item (c) of the formula is a maximum of 0.50%. If we are no longer offering new
Guarantee Periods, we will use a rate equal to the most recent Moody's Corporate
Bond Yield Average - Monthly Average Corporates, for the duration required, as
published by Moody's Investor Services, Inc. If such Moody's rate is not
available, a rate based on a substantially similar average will be used.
No. 94ICA DATA PAGE 7
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
This Certificate is hereby amended, effective as of its Issue Date, as follows:
1. The terms of the attached "Roth IRA Endorsement" will apply,
notwithstanding any terms to the contrary contained in this Certificate.
2. In addition to the events under which a withdrawal charge will not apply,
as described in the Certificate, a withdrawal charge will also not apply
in the event of a withdrawal made, after five Contract Years have elapsed,
for a qualified first-time homebuyer distribution pursuant to Section
72(t)(2) of the Code, subject to receipt of evidence satisfactory to us
that such withdrawal is in fact for such purpose.
3. A withdrawal for a higher education expense distribution pursuant to
Section 72(t)(2) of the Code may be made subject to receipt of evidence
satisfactory to us that such withdrawal is in fact for such purpose. In
the event of such a withdrawal, the Free Corridor Amount for the Contract
Year in which the withdrawal is made will, when such withdrawal is
considered together with all other withdrawals made in that Contract Year,
be 25%.
NEW YORK,
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
/s/ Edward Miller /s/ Pauline Sherman
Chairman and Chief Executive Officer Vice President, Secretary
and Associate General Counsel
No. 98ROTH
<PAGE>
"ROTH IRA ENDORSEMENT"
Endorsement Applicable to Roth IRA Certificates
When issued with this Endorsement, this Certificate is a "Roth IRA Certificate"
which is issued as an individual retirement annuity contract which meets the
requirements of Sections 408A and 408(b) of the Code. It is established for the
exclusive benefit of you and your beneficiaries, and the terms below change, or
are added to, the applicable provisions of this Certificate. Also, your entire
interest under the Certificate is not forfeitable.
I. DEFINITIONS
-----------
The following apply in addition to or in lieu of corresponding
definitions in the Certificate.
ANNUITANT. You must be both the Annuitant and the Owner.
ANNUITANT COMMENCEMENT DATE. You may not choose an Annuity Commencement
Date later than our maximum maturity age (currently age 90, unless a
different age is required by State law), and any period certain you
select must conform to IRS life expectancy tables in Treasury
Regulations Section 1.72-9.
CODE. When used in this Endorsement references to the Code include
references to applicable tax Regulations.
CONTRIBUTIONS. Contributions are subject to the limits of Section 408A
of the Code.
OWNER. The Annuitant is the Owner of the Certificate and cannot be
changed.
II. LIMITS ON CONTRIBUTIONS
-----------------------
No Contributions will be accepted unless they are in United States cash
(including checks). We reserve the right to accept electronic cash
which meets our specifications.
Except in the case of a rollover or direct transfer Contribution
discussed below which meets the requirements of Section 408A of the
Code, the total of your Contributions will not exceed the maximum total
under Section 408A(c)(2) of the Code for any taxable year.
A "rollover contribution" is one permitted by Section 408A(e) and
408(d)(3) of the Code.
Roth IRA to Roth IRA Rollover Contributions. You may make a qualified
rollover contribution as permitted by Sections 408A(e) and 408(d) of
the Code from another Roth IRA. There are no limits on the amount
rolled over; however, you may be required to designate the taxable year
in which you converted any non-Roth IRA funds into Roth IRA funds.
Direct Transfer Contributions. You may make a Contribution of a direct
transfer of funds from another Roth IRA under Section 408A of the Code.
There are no limits on the amount transferred; however, you may be
required to designate the taxable year in which you converted any
non-Roth IRA funds into Roth IRA funds.
Non-Roth IRA to Roth IRA Rollover Contributions ("Conversion
Contributions"). If you meet the modified adjusted gross income limits
specified in Section 408A, you may make a qualified rollover
contribution as permitted by Section 408A(c)(3)(B) of the Code and
Sections 408A(e) and 408(d)(3) of the Code from another individual
retirement plan under Section 408 of the Code which is not a Roth IRA.
There are no limits on the amounts rolled over. We reserve the right to
require you to designate the year to which such a conversion of
non-Roth IRA funds into Roth IRA funds applies.
Rollovers are not permitted by SEP-IRAs under Section 408(k) of the
Code or SIMPLE IRAs under Section 408(p) of the Code.
No. 98ROTH
<PAGE>
If we determine that any Contributions would cause this Certificate not
to qualify under Sections 408A or 408(b) of the Code, we reserve the
right to either (i) refuse to accept any such Contributions or (ii)
apply such Contributions to a nonqualified deferred annuity contract or
certificate for the exclusive benefit of you and your beneficiaries.
III. DEATH BENEFITS
--------------
Under the following circumstances, the death benefit described in this
Certificate will not be paid at your death before the Annuity
Commencement Date, and the coverage under the Certificate will continue
with your surviving spouse as Successor Owner and Annuitant.
1. You are married at your death.
2. The person named as death beneficiary is your surviving
spouse.
3. You or your spouse at your death have additionally requested,
in accordance with our procedures then in effect, that your
spouse become "Successor Owner and Annuitant" of your
Certificate if your spouse survives you.
MINIMUM DISTRIBUTION RULES - DEATH BENEFIT. This Certificate is subject
to these "Required Payment" or "Minimum Distribution" rules of Section
408(b) and 401(a)(9) of the Code and the Treasury Regulations which
apply.
If you die after distribution of your interest in this Certificate has
begun, the remaining portion of such interest will continue to be
distributed at least as rapidly as under the method of distribution
being used prior to your death.
If you die after distribution of your interest in this Certificate
begins, distribution of your entire interest shall be completed no
later than December 31 of the calendar year containing the fifth
anniversary of your death, except to the extent that an election is
made to receive death benefit distributions in accordance with (1) or
(2) below:
(1) If your interest is payable to a designated beneficiary,
then your entire interest may be distributed over the
life of, or over a period certain not greater than the
life expectancy of, the designated beneficiary. Such
distributions must commence on or before December 31 of
the calendar year immediately following the calendar
year of your death.
(2) If the designated beneficiary is your surviving spouse,
the date that distributions are required to begin in
accordance with (1) above shall not be earlier than the
later of (a) December 31 of the calendar year
immediately following the calendar year of your death or
(b) December 31 of the calendar year in which you would
have attained age 70 1/2.
If the designated beneficiary is your surviving spouse, and a Successor
Annuitant and Owner option (described above in this Endorsement under
DEATH BENEFITS) is in effect, the distribution of your interest need
not be made until after your spouse's death.
For purposes of determining the "period certain" referred to above,
life expectancy is computed by use of the expected return multiples in
Tables V and VI of the Treasury Regulation Section 1.72-9. For purposes
of distributions beginning after your death, unless otherwise elected
by the surviving spouse by the time distributions are required to
begin, life expectancies shall be recalculated annually. Such election
shall be irrevocable by the surviving spouse and shall apply to all
subsequent years. In the case of any other designated beneficiary, life
expectancies shall be calculated using the attained age of such
beneficiary during the calendar year in which distributions are
required to begin, pursuant to this Item, and payments for any
subsequent calendar year shall be calculated based on such life
expectancy reduced by one for each calendar year which has elapsed
since the calendar year life expectancy was first calculated.
No. 98ROTH
<PAGE>
Distributions under this Item are considered to have begun if
distributions irrevocably commence to you over a period permitted and
in any annuity form acceptable under Section 1.40(a)(9)-1 of the
Proposed Treasury Regulations or any successor Regulation thereto.
IV. ANNUITY BENEFITS
----------------
This Certificate will begin to pay out as an Annuity for your life on
the Annuity Commencement Date you select on the application unless you
indicate to us another form of payment before such payments commence.
If you or your beneficiary (as described in Item III above) selects a
period certain form of payment, no period certain can be longer than
applicable life expectancy under IRS tables in Treasury Regulations
Section 1.72-9.
V. GENERAL PROVISIONS
------------------
TERMINATION OF CERTIFICATE
If this Certificate fails to qualify as a Roth individual retirement
annuity under Sections 408A and 408(b) of the Code, we will have the
right to terminate the Certificate. We may do so, upon receipt of
notice of such fact, before the Annuity Commencement Date. In that
case, we have the right to pay the Annuity Account Value less a
deduction for the part which applies to any Federal income tax payable
by you which would not have been payable with respect to a Roth
individual retirement annuity which meets the terms of Sections 408A
and 408(b) of the Code.
REPORTS AND NOTICES
We will send you a report as of the end of each calendar year showing
the status of the Certificate and any other reports required by the
Code.
ASSIGNMENTS, NONTRANSFERABILITY, NONFORFEITABILITY
Your rights under this Certificate may not be assigned, pledged or
transferred except as permitted by law. You may not name a new Owner,
except as described in this Endorsement in relation to DEATH BENEFITS.
No. 98ROTH
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
New York, New York 10019
EQUI-VEST(R) TAX-DEFERRED VARIABLE ANNUITY APPLICATION
Application Number:________________________ (Page 1 of 5)
- --------------------------------------------------------------------------------
1. EQUI-VEST PROGRAM (CHECK ONE)
<TABLE>
<CAPTION>
TAX-EXEMPT BUSINESS INDIVIDUAL
<S> <C> <C>
A. | | TSA PUBLIC SCHOOL E. | | KEOGH I. | | TRADITIONAL IRA
B. | | TSA 501(c)(3) (HR-10 Individual) J. ROTH IRA: | | ADVANTAGE OR | | STANDARD
C. | | TSA UNIVERSITY F. | | SEP | | Conversion Rollover from Traditional IRA
D. | | EDC G. | | SARSEP | | Direct Transfer or Rollover from another ROTH IRA
H. | | SIMPLE IRA | | Recurring Contributory ROTH IRA
K. | | QP-IRA (Pension Distributions)
L. | | UNIT-BILLED TRADITIONAL IRA
M. | | UNIT-BILLED ROTH IRA | | Advantage | | Standard
N. | | NQ (Non-Qualified Variable Annuity
O. | | UNIT-BILLED NQ
</TABLE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
2. EMPLOYER UNIT INFORMATION (COMPLETE FOR ALL PROGRAMS EXCEPT FOR I,J,K, AND N)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
CLIENT/EMPLOYER NAME
(Select one) | | _| | | | | | - | | | |
EXISTING UNIT NUMBER LOCATION
or NEW UNIT | | Must Complete Plan Enrollment Kit)
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
3. ANNUITANT INFORMATION (CHECK APPROPRIATE BOXES)
| | Mr. | | Mrs. | | Miss | | Ms. | | Other ___________ | | Male | | Female
_| | | | | | | | | |
SOCIAL SECURITY NO. (REQUIRED)
- | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
FIRST NAME MIDDLE INITIAL ONLY LAST NAME
BIRTH _| | | | | | | | _______________ (_| |) | | | | | | | | Home | | Work
DATE: YEAR MONTH DAY AGE AT NEAREST BIRTHDAY AREA CODE DAYTIME PHONE NUMBER
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
STREET ADDRESS
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |-| | | |
CITY STATE ZIP
- --------------------------------------------------------------------------------
4. ANNUITY COMMENCEMENT DATE (WHEN ANNUITANT ANTICIPATES DISTRIBUTIONS TO BEGIN)
________________ (Maximum age:85 except SIMPLE IRA and Roth IRA which is 90)
- --------------------------------------------------------------------------------
5. BENEFICIARY(IES) INFORMATION
INCLUDE FULL NAME(S) AND RELATIONSHIP(S) TO OWNER. USE #14 IF YOU NEED MORE
SPACE
PRIMARY
----------------------------------------------------------------------
- --------------------------------------------------------------------------------
CONTINGENT (IF ANY):
---------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
6. SUCCESSOR ANNUITANT/OWNER INFORMATION
(AVAILABLE ONLY FOR TRADITIONAL IRA, ROTH IRA, NQ, SEP, SARSEP AND SIMPLE IRA
CONTRACTS, EXCEPT IN OREGON)
SUCCESSOR ANNUITANT AND OWNER MUST BE ANNUITANT/OWNER'S SPOUSE AND THE SOLE
PRIMARY BENEFICIARY NAMED IN #5.
| | NO, I don't elect a Successor Annuitant/Owner.
| | YES, I do elect a Successor Annuitant/Owner.
If YES, complete the following: | | | | | | | | |
SPOUSE'S SOCIAL SECURITY NO.
Spouse's Birth Date: | | | | | | | | | |
YEAR MONTH DAY
- --------------------------------------------------------------------------------
Form 180-1009 Cat. - 127124 (6/98)
In Virginia: Form -180-1009VA
<PAGE>
Application Number:___________________ (Page 2 of 5)
- --------------------------------------------------------------------------------
7. OWNER INFORMATION (COMPLETE FOR EDC AND NQ IF THE OWNER WILL BE DIFFERENT
FROM THE ANNUITANT NAMED IN #3)
| | Individual | | Guardian | | Custodian (See below)*
| | Trustee (For an entity)** | | Trustee (For an individual)
-| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
FIRST NAME MIDDLE INITIAL ONLY LAST NAME
-------------------------------------------
RELATIONSHIP TO ANNUITANT
- | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
STREET ADDRESS
- | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
CITY STATE ZIP
- | | | | | | | | | (IF GUARDIAN OR CUSTODIAN BIRTH DATE - | | | | | |
TAX ID OR OWNER S.S. NO. USE MINOR'S S.S. NO) YEAR MONTH DAY
*As Custodian under the ___________ Uniform Gifts to Minors Act (UGMA) or
STATE
Uniform Transfer to Minors Act (UTMA).
Please note if issued under UGMA or UTMA,
**Inside build-up is taxable. the beneficiary named in #5 must be the
Estate of the Annuitant.
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8. NQ SUCCESSOR OWNER INFORMATION
(NOT AVAILABLE FOR NQ CONTRACTS IN OREGON)
AVAILABLE ONLY FOR NQ CONTRACTS AND ONLY IF ANNUITANT AND OWNER IN #3 AND #7
ARE DIFFERENT PARTIES.
| | NO, I don't elect a Successor/Owner
| | YES, I do elect a Successor/Owner
- | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
FIRST NAME MIDDLE INITIAL ONLY LAST NAME
- | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
STREET ADDRESS
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |-| | | |
CITY STATE ZIP
| | | | | | | | | BIRTH DATE: | | | | | | | |
SOCIAL SECURITY NUMBER YEAR MONTH DAY
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9. CONTRIBUTION INFORMATION (COMPLETE #9A ONLY IF A PAYMENT IS PROVIDED WHEN THE
APPLICATION IS SIGNED. IF PAYMENT WILL BE FORWARDED AT A LATER DATE, YOU MUST
COMPLETE ONLY #9B.)
A. AMOUNT PROVIDED WITH THIS APPLICATION:
(i) Total amount for investment options listed in #11.
(Do not include amounts for the Fixed Maturity Account.) $_________
(ii) Total amount for Fixed Maturity Period(s) listed in #12. $_________
(iii) If TSA (#1A, 1B or 1C) or SARSEP (#1G) or SIMPLE IRA (#1H) has been
checked, provide a monthly breakdown of employee and employer
contributions.
$ ----------------- $ -----------------
Employee Employer
(iv) Total Amount Remitted. $_________
B. EXPECTED FIRST YEAR CONTRIBUTION:
Indicate the amount expected to be contributed in the first year of this
contract. $_________
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<PAGE>
Application Number: ___________________________ (Page 3 of 5)
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10. REMINDER/CONTRIBUTION STATEMENTS INFORMATION
(COMPLETE #10A, 10B OR 10C AS APPLICABLE.)
A. INDIVIDUAL REMINDER NOTICE: (COMPLETE ONLY IF YOU CHECKED THE
TRADITIONAL OR ROTH IRA OR NQ BOX IN #1.)
(i) Indicate if a Contribution reminder Notice is desired.
| | YES | | NO
(ii) If Yes, complete the reminder frequency: | | Annually
| | Semi-Annually | | Quarterly
(iii) Date of First Reminder ___________/___________
(not past the 28th) MONTH DAY
(iv) Contribution Reminder Notice Amount $_____________
B. PLAN CONTRIBUTION STATEMENT FREQUENCY (UNIT-BILLED/SALARY DEDUCTION
CASES)
(i) Complete only if you checked TSA Public School,
TSA 501(c)(3), TSA University, EDC, Keogh (Non-Trusteed), SEP,
SARSEP, SIMPLE IRA, Unit-Billed Traditional or Roth IRA or
Unit-Billed NQ.
| | Annually | | Semi-Annually | | Quarterly
| | Monthly | | Semi-Monthly | | Bi-Weekly
(ii) | | YES
| | NO I want to be included on the Contribution Statement sent to
my employer. (Each Contribution Statement will show the amount
of the last contribution made.)
Initial Contribution Statement Reminder Amount. $____________________
C. FOR TSA UNITS ONLY:
Months to be excluded, if any, from Plan Contribution Statement (months
must be consecutive and from May to September only). __________________
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11. SELECTION OF INVESTMENT OPTIONS AND ALLOCATION PERCENTAGES
(CHECK EITHER BOX A OR BOX B BUT NOT BOTH.)
A. | | MAXIMUM TRANSFER FLEXIBILITY. By checking this box, you may only
invest in those options listed below (which have been SHADED).
Transfers out of the GIA will be limited.
B. | | MAXIMUM FUND CHOICE. By checking this box, you may invest in any
of the options listed below (shaded or not shaded). Transfers out of
the GIA will be limited (see Prospectus for details).
CURRENT ALLOCATION. Select the allocation for the amount indicated in
#9A(I) or any amounts that you may invest in these options in the future.
You can change this allocation for future contributions at any time. You
must allocate your contributions below by entering percentages in whole
numbers totalling 100% for funds you have chosen.
Note: If you are investing in the Fixed Maturity Account (FMA) you must
be certain that you have entered an amount in #9A(II), checked box #11B,
and complete #12. There is no need to complete the allocation below if
you intend to use only the FMA under your EQUI-VEST contract.
Guaranteed Interest Account _________%
Alliance Equity Index _________%
Alliance Growth & Income _________%
Alliance Common Stock _________%
Alliance Global _________%
Alliance International _________%
Alliance Aggressive Stock _________%
Alliance Growth Investors _________%
Alliance Balanced _________%
Alliance Small Cap Growth _________%
Alliance Conservative Investors _________%
Alliance Money Market _________%
Alliance Intermediate Gov't.Securities _________%
Alliance Quality Bond _________%
Alliance High Yield _________%
T. Rowe Price International Stock _________%
T. Rowe Price Equity Income _________%
EQ/Putnam Growth & Income Value _________%
EQ/Putnam Balanced _________%
MFS Research _________%
MFS Emerging Growth Companies _________%
Morgan Stanley Emerging
Markets Equity _________%
Warburg Pincus Small Company Value _________%
Merrill Lynch World Strategy _________%
Merrill Lynch Basic Value Equity _________%
TOTAL (FOR BOTH COLUMNS) 100%
<PAGE>
Application Number: __________________________ (Page 4 of 5)
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12. FIXED MATURITY ACCOUNT ELECTIONS
(AVAILABLE ONLY FOR SERIES 400 IRA, QP IRA, AND NQ CONTRACTS, BUT NOT
AVAILABLE IN MARYLAND)
For the amount shown in #9A(II), please allocate by whole percentages to
the following Fixed Maturity Period(s). (Do not select a Maturity Date that
has already expired.)
MATURITY DATES PERCENTAGE OF AMOUNT SHOWN IN 9A(II)
| | June 15, 1999 ________________________ %
| | June 15, 2000 ________________________
------------- | | June 15, 2001 ________________________
USE WHOLE | | June 14, 2002 ________________________
PERCENTAGES | | June 13, 2003 ________________________
ONLY | | June 15, 2004 ________________________
------------- | | June 15, 2005 ________________________
| | June 15, 2006 ________________________
| | June 15, 2007 ________________________
| | June 13, 2008 ________________________
TOTAL 100 %
------------------------
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13. INFORMATION TO SATISFY REGULATORY REQUIREMENTS
A. THE OWNER RECEIVED THE FOLLOWING EQUI-VEST PROSPECTUS AND ANY APPLICABLE
SUPPLEMENT:
------------------------------ -----------------------------------
DATE OF PROSPECTUS DATE(S) OF ANY SUPPLEMENT(S) TO
PROSPECTUS
B. WILL ANY EXISTING INSURANCE OR ANNUITY BE (OR HAS IT BEEN) REPLACED OR
CHANGED, ASSUMING THE CONTRACT APPLIED FOR WILL BE ISSUED?
| | Yes | | No If Yes, complete the following:
--------------- --------------- -------------------- ----------------
YEARS ISSUED TYPE OF PLAN COMPANY CONTRACT NUMBER
------------------------------------------------------------------------
COMPANY ADDRESS
NQ Only: Contribution basis (check one): | | Before 8/14/82
| | 8/14/82 or later
Net cost:_________
(attach illustration)
C. NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC. (NASD) INFORMATION (AS
REQUIRED BY THE NASD).
-------------------------------------- -| | | | | | | | | | | | |
EMPLOYER'S NAME OWNER'S OCCUPATION
------------------------------------------------------------------------
EMPLOYER'S STREET ADDRESS
------------------------------------------------------------------------
CITY STATE ZIP
------------------------------- -----------------------------
ESTIMATED ANNUAL FAMILY INCOME ESTIMATED NET WORTH
Investment Objective: | | Income | | Income & Growth | | Growth
| | Aggressive Growth | | Safety of Principal
Is Owner or Annuitant associated with or employed by a member of the
NASD? | | Yes | | No
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14. SPECIAL INSTRUCTIONS (FOR BENEFICIARY, REPLACEMENT, OR TRANSFER INFORMATION)
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<PAGE>
Application Number: ___________________________ (Page 5 of 5)
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15. AGREEMENT
All information and statements furnished in this application are true and
complete to the best of my knowledge and belief. I understand and
acknowledge that no Agent has the authority to make or modify any contract
on Equitable Life's behalf, or to waive or alter any of Equitable Life's
rights and regulations. I understand that amounts withdrawn from the
contract may be subject to a withdrawal charge, I understand that the
annuity account value attributable to allocations to the investment funds of
the separate account or variable annuity benefit payments may increase or
decrease and are not guaranteed as to dollar amount. For the Fixed Maturity
Account, amounts payable under the contract before the Maturity Date
selected in Item 12 are subject to maket value adjustments.
---------------------------------------------- --------------------------
PROPOSED ANNUITANTS SIGNATURE DATE CITY STATE
---------------------------------------------- --------------------------
SIGNATURE OF OWNER DATE CITY STATE
(IF OTHER THAN PROPOSED ANNUITANT)
(NEW YORK, OREGON AND VIRGINIA RESIDENTS SIGN ABOVE, ALL OTHER RESIDENTS
SIGN BELOW.)
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In Colorado: It is unlawful to knowingly provide false, incomplete, or
misleading facts or information to an insurance company
for the purpose of defrauding or attempting to defraud the
company. Penalties may include imprisonment, fines,
denial of insurance, and civil damages. Any insurance
company or agent of an insurance company who knowingly
provides false, incomplete or misleading facts or
information to a policyholder or claimant for the purpose
of defrauding or attempting to defraud the policy holder
or claimant with regard to a settlement or award payable
from insurance proceeds shall be reported to the Colorado
Division of Insurance within the Department of Regulatory
Agencies.
In Florida: Any person who knowingly and with intent to injure,
defraud, or deceive any insurer files a statement of claim
or an application containing any false, incomplete, or
misleading information is guilty of a felony of the third
degree.
In New Jersey: Any person who knowingly files a statement of claim
containing any false or misleading information is subject
to criminal and civil penalties.
In Arkansas Any person who knowingly and with intent to defraud any
Kentucky and insurance company or other person files an application for
Pennsylvania: insurance or statement of claim containing any materially
false information or conceals for the purpose of
misleading, information concerning any fact material
thereto commits a fraudulent insurance act, which is a
crime and subjects such person to criminal and civil
penalties.
All Other States: Laws in your state may make it a crime to fill out an
insurance or annuity application with information you
know is false or to leave out material facts.
--------------------------------------------- ---------------------------
PROPOSED ANNUITANTS SIGNATURE DATE CITY STATE
--------------------------------------------- ---------------------------
SIGNATURE OF OWNER DATE CITY STATE
(IF OTHER THAN PROPOSED ANNUITANT)
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Form -180-1009 Cat. 127124 (6/98)
In Virginia Form -180-1009VA
[EQUITABLE LOGO]
