THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
Supplement Dated August 18, 1998
To
EQUI-VEST(R) PROSPECTUS
Dated May 1, 1998
EQUI-VEST(R) TSA CONTRACTS
(SERIES 100 AND SERIES 200)
OFFERED TO CERTAIN PUBLIC SCHOOL EMPLOYEES WITHIN THE STATE OF INDIANA
This Supplement adds to and modifies certain information contained in the
prospectus dated May 1, 1998 ("PROSPECTUS") for EQUI-VEST(R) PERSONAL RETIREMENT
PROGRAMS AND EMPLOYER-SPONSORED RETIREMENT PROGRAMS offered by Equitable Life.
Equitable Life will offer its EQUI-VEST(R) Series 100 and Series 200 TSA
Contracts, as described below ("MODIFIED TSA CONTRACTS"), to certain
participants in plans that meet the requirements of Internal Revenue Code
Section 403(b) (referred to as "Section 403(b) Plans") sponsored by a public
education institution described in Section 403(b)(1)(A)(ii) of the Code within
the State of Indiana ("EMPLOYER"). Modified TSA Contracts will be available only
when an Employer makes contributions to a Section 403(b) Plan, whether in
addition to, or instead of, employee salary reduction or elective deferred
contributions, as applicable, and has entered into an agreement with Equitable
Life that permits Equitable Life to offer to you Modified TSA Contracts as a
funding vehicle for your Employer's Section 403(b) Plan ("MODIFIED TSA
AGREEMENT"). Capitalized terms not otherwise defined in this Supplement have the
same meaning as in the Prospectus.
MODIFIED TSA AGREEMENTS AND CONTRACTS: EXCEPTIONS TO CONTINGENT WITHDRAWAL
CHARGE. Modified TSA Contracts are offered to participants on the same basis and
under the same terms and conditions described in the Prospectus as applicable to
the EQUI-VEST(R) TSA Series 100 and Series 200 Contracts, except for certain
material differences described in this Supplement.
Your Employer may notify us of its termination of a Modified TSA Agreement
during the seven-day period ("EMPLOYER WINDOW PERIOD") starting on the fifth
anniversary of the initial Modified TSA Contract purchased pursuant to a
Modified TSA Agreement. If your Employer terminates its Modified TSA Agreement
during an Employer Window Period, then you will have a 30-day period ("ANNUITANT
WINDOW PERIOD"), starting on the first business day after the end of an Employer
Window Period, during which to
FOR USE ONLY IN THE STATE OF INDIANA
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notify our Processing Office, in writing, whether you desire to terminate your
Modified TSA Contract and transfer your Modified TSA Contract's Annuity Account
Value to a successor funding vehicle without a contingent withdrawal charge
being applied.
The Prospectus section entitled "How the Contingent Withdrawal Charge is Applied
for Series 100 and 200 Traditional IRA, Roth IRA, SEP, SIMPLE IRA, TSA, EDC and
Annuitant-Owned HR-10 Contracts" in "Part 7: Deductions and Charges" has been
revised to add the following waiver:
No charge will be applied to any amount withdrawn from your Modified TSA
Contract if:
o your Employer terminates its Modified TSA Agreement with us; and within
the 30-day Annuitant Window Period, you choose to transfer the Annuity
Account Value under your Modified TSA Contract to a successor funding
vehicle.
Your opportunity to transfer your Annuity Account Value without paying a
contingent withdrawal charge is wholly dependent upon your Employer providing
you with timely notice of the termination of its Modified TSA Agreement with us
and notifying you of the Annuitant Window Period. EQUITABLE LIFE IS NOT
OBLIGATED TO PROVIDE YOU WITH INFORMATION RELATING TO YOUR EMPLOYER'S DECISION
TO TERMINATE ITS MODIFIED TSA AGREEMENT.
You are not required to make such a transfer and you may decide to continue your
Modified TSA Contract even if your Employer terminates its Modified TSA
Agreement.
GUARANTEED INTEREST ACCOUNT RATES. Until the start of the Employer Window Period
all Modified TSA Contracts held by Annuitants of one Employer ("UNIT") will be
credited with a current rate of interest in the Guaranteed Interest Account
("GIA") up to 0.50% lower than the current rate for all other EQUI-VEST(R)
Series 100 and Series 200 TSA Contracts purchased on the same date and not
purchased pursuant to a Modified TSA Agreement or other modified service
agreement Equitable has with an Employer. Equitable Life reserves the right to
apply different interest percentage rates to Units, at its discretion, based
upon variances in Unit experience, expenses and other factors. The current GIA
rate credited under Modified TSA Contracts, however, will never be lower than
the minimum guaranteed rates under all EQUI-VEST(R) Series 100 and Series 200
TSA Contracts. See "Part 4: The Guaranteed Interest Account" in the Prospectus.
Once the Employer Window Period begins, the GIA rates for any Modified TSA
Contract within a Unit will be the same as the rates in effect for all other
EQUI-VEST(R) Series 100 and Series 200 TSA Contracts purchased on the same date
and not purchased pursuant to a Modified TSA Agreement or other modified service
agreement Equitable has with an Employer.
FOR USE ONLY IN THE STATE OF INDIANA
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ANNUAL ADMINISTRATIVE CHARGE. The annual administrative charge under Modified
TSA Contracts may be reduced or waived when participant services are performed
at a modified or minimum level under a Modified TSA Agreement. This annual
administrative charge may continue to be reduced or waived even if your Employer
terminates its Modified TSA Agreement with us. Any reduction or waiver to an
annual administrative charge will not be unfairly discriminatory. See "Part 7:
Deductions and Charges" in the Prospectus.
FOR USE ONLY IN THE STATE OF INDIANA
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