Registration No. 2-30070
Registration No. 811-1705
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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM N-4
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 | |
Pre-Effective Amendment No. | |
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|X|
Post-Effective Amendment No. 69
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AND/OR
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 | |
|X|
Amendment No. 89
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(Check appropriate box or boxes)
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SEPARATE ACCOUNT A
of
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
(Exact Name of Registrant)
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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
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ANTOINETTE ROBBINS
ASSISTANT VICE PRESIDENT AND 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)
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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
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<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 (date) 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.
If appropriate, check the following box:
| | This post-effective amendment designates a new effective date for
previously filed post-effective amendment.
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Title of Securities Being Registered: Units of Interest in Separate
Account under Variable Annuity Contract.
<PAGE>
NOTE
This Post Effective Amendment No. 69 ("PEA") to the Form N-4 Registration
Statement No. 2-30070 ("Registration Statement") of The Equitable Life Assurance
Society of the United States ("Equitable Life") and its Separate Account A is
being filed solely for the purpose of including in the Registration Statement a
supplement to Equitable Life's EQUI-VEST employer sponsored retirement programs
Prospectus dated May 1, 2000. The supplement relates to Equitable Life's new
series of tax-sheltered annuities. The PEA does not amend or delete the
EQUI-VEST Prospectuses or Statements of Additional Information, dated May 1,
2000 as previously supplemented or any other part of the Registration Statement
except as specifically noted herein.
(Parts A, B and C of Post Effective Amendment No. 66 and Part C of Post
Effective Amendment Nos. 67 to the Form N-4 Registration Statement (File
No. 2-30070) filed with the Commission on April 27 and May 19, 2000,
respectively, are incorporated by reference.)
<PAGE>
EQUI-VEST(R)
EMPLOYER-SPONSORED RETIREMENT PROGRAMS
SERIES 900 TSA ADVANTAGE(SM)
SUPPLEMENT DATED DECEMBER 31, 2000
TO THE EQUI-VEST(R) EMPLOYER-SPONSORED RETIREMENT PROGRAMS
PROSPECTUS DATED MAY 1, 2000
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This supplement adds to and modifies certain information contained in the
prospectus dated May 1, 2000 for the EQUI-VEST(R)Employer-Sponsored Retirement
Programs offered by The Equitable Life Assurance Society of the United States
("Prospectus").
We offer the series 900 TSA Advantage contract to fund certain Section 403(b)
plans ("plans") sponsored by Section 501(c)(3) tax-exempt organizations or
post-secondary public educational institutions ("employers"). 501(c)(3)
organizations include governmental hospitals and healthcare providers that have
also received 501(c)(3) designation from the Internal Revenue Service. We will
not offer the series 900 TSA Advantage contract to primary or secondary schools.
The series 900 TSA Advantage contract is available to plans that meet our
requirements regarding the minimum number of plan eligible employees or minimum
aggregate plan rollover and direct transfer amounts, as applicable. The series
900 TSA Advantage contract may not currently be available in every state.
Equitable's financial professional can provide information about state
availability.
Series 900 TSA Advantage is a group variable deferred annuity contract. Either
the plan trustee or the employer will be the series 900 TSA Advantage contract
owner. Certain rights may be exercised by employees covered under an employer's
plan (the "participants"). These rights will be set forth in a certificate
provided to each participant. The participant will also be the annuitant. The
12-month period beginning on the participant's certificate date and each
12-month period thereafter is a "certificate year." The "certificate date" is
the date we receive a participant's properly completed and signed enrollment
form and any other required documents at our processing office. "Contract date"
is the date we receive a contract owner's properly completed and signed
application and other required documents at our processing office. The 12-month
period beginning on a contract date and each 12-month period after that is a
"contract year." The end of each 12-month period is the "contract anniversary."
Terms and other provisions not defined or modified in this Supplement are the
same as in the Prospectus.*
We offer the series 900 TSA Advantage contract to purchasers on the same basis
and under the same terms and conditions described in the Prospectus as those
that apply to EQUI-VEST Series 100 and 200 contracts, except for certain
material differences described in this Supplement. This Supplement should be
read together with the Prospectus.
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See "Tax information" in the Prospectus for a more detailed discussion of
sources of contributions, certain contribution limitations and other tax
information for TSA contracts.
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* This Supplement distinguishes between "contract" and "certificate" as well as
"contract owner" and "participant" when describing the series 900 TSA Advantage
product. The Prospectus does not make these distinctions and generally uses the
terms "you" and "your" when referring to the person who has the right and to
"contract" when referring to the certificate or contract that includes the
right.
130545
<PAGE>
We may at some future time, under certain conditions and subject to applicable
law, allow a current owner of a series 100, series 200, or series 600 TSA
contract to exchange it for a series 900 TSA Advantage contract. An exchange for
a series 900 TSA Advantage contract may or may not be advantageous to contract
owners or participants, based on all of the circumstances, including a
comparison of contractual terms and conditions, and charges and deductions. We
will provide additional information upon request at such time as exchanges may
be permitted.
Material differences between series 900 TSA Advantage and the provisions of the
EQUI-VEST series 100 and 200 contracts described in the Prospectus include the
information above as well as the following:
THE FOLLOWING IS ADDED TO "EQUI-VEST EMPLOYER-SPONSORED RETIREMENT PROGRAMS AT A
GLANCE - KEY FEATURES" UNDER "FEES AND CHARGES" ON PAGE 11 OF THE PROSPECTUS:
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Fees and Charges
Series 900 TSA
Advantage
o Separate account charge deducted daily on amounts
invested in variable investment options:
Varies by group, annual rate ranges between 0% -1.35%
o Annual administrative charge: $25 current ($65 maximum)
is deducted from each certificate each certificate year
o Charge for third-party transfer (such as in the case of
a direct rollover to a traditional IRA contract or
direct transfer of all or part of a participant's cash
value to another 403(b) arrangement):
$25 current ($65 maximum) per occurrence per
participant
o No sales charge deducted at the time contributions are
made.
o Withdrawal charge:
We deduct a charge equal to 6% of the amount withdrawn
from a participant's annuity account value or from a
participant's defaulted loan amount in the first six
contract years. The total of all withdrawal charges may
not exceed 8% of all contributions made by the
participant in the first six contract years. Under
certain circumstances the withdrawal charge will not
apply. They are discussed in "Charges and expenses"
later in this Supplement.
o We deduct a charge designed to approximate certain
taxes that may be imposed on us, such as premium taxes
in a participant's state. The charge is generally
deducted from the amount applied to an annuity payout
option.
2
SERIES 900 TSA ADVANTAGE
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<PAGE>
o We deduct a $350 annuity administrative fee from
amounts applied to a variable annuity payout option.
o Annual expenses of EQ Advisors Trust portfolios are
calculated as a percentage of the average daily net
assets invested in each portfolio. These expenses
include management fees ranging from 0.25% to 1.15%
annually, 12b-1 fees of 0.25% annually, and other
expenses.
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THE FOLLOWING TABLE AND EXAMPLES ARE ADDED AFTER "IF YOU ELECT A VARIABLE
ANNUITY PAYOUT OPTION:" ON PAGE 18 OF THE PROSPECTUS:
FEE TABLE
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The fee table below will help participants and owners understand the various
charges and expenses that apply to the series 900 TSA Advantage product. The
table reflects charges that the participant will directly incur under the
certificate, as well as charges and expenses of the portfolios that the
participant bears indirectly. Charges designed to approximate certain taxes that
may be imposed on us, such as premium taxes in a participant's state, may also
apply. Also, an annuity administrative fee may apply when a participant's
annuity payout option begins. Each of the charges and expenses is more fully
described in "Charges and expenses" later in this Supplement.
The guaranteed interest option and fixed maturity options discussed in the
Prospectus are not covered by the fee table and examples. However, the annual
administrative charge, the withdrawal charge and any applicable annuity
administrative fee do apply to the guaranteed interest and the fixed maturity
options. A market value adjustment (up or down) may apply as a result of a
withdrawal, transfer or surrender from a fixed maturity option.
SERIES 900 TSA ADVANTAGE CONTRACTS
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CHARGES WE DEDUCT FROM THE VARIABLE INVESTMENT OPTIONS EXPRESSED AS AN
ANNUAL PERCENTAGE OF DAILY NET ASSETS
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Separate account charge 0.0% to 1.35%(1)
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CHARGES WE DEDUCT FROM THE ACCOUNT VALUE ON EACH PARTICIPANT DATE ANNIVERSARY
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Annual administrative charge $25 current($65 maximum)
(per participant)
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CHARGES WE DEDUCT FROM THE ACCOUNT VALUE AT THE TIME CERTAIN TRANSACTIONS
ARE REQUESTED
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Withdrawal charge 6% of each withdrawal
amount (not to exceed 8%
of contributions) made in
the first six contract
years
Charge for third-party transfer $25 current
or direct rollover ($65 maximum) (per
occurrence per
participant)
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SERIES 900 TSA ADVANTAGE
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<PAGE>
<TABLE>
<CAPTION>
EQ ADVISORS TRUST ANNUAL EXPENSES
(AS A PERCENTAGE OF AVERAGE DAILY NET ASSETS IN EACH PORTFOLIO)
-------------------------------------------------------------------------------------------------------------------------
TOTAL
OTHER ANNUAL
EXPENSES EXPENSES
MANAGEMENT (AFTER EXPENSE (AFTER EXPENSE
FEES(2) 12B-1 FEE(3) LIMITATION)(4) LIMITATION)(3)(5)
-------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Alliance Common Stock 0.46% 0.25% 0.04% 0.75%
Alliance Conservative Investors 0.60% 0.25% 0.07% 0.92%
Alliance Global 0.73% 0.25% 0.09% 1.07%
Alliance Growth & Income 0.59% 0.25% 0.05% 0.89%
Alliance Growth Investors 0.57% 0.25% 0.05% 0.87%
Alliance High Yield 0.60% 0.25% 0.05% 0.90%
Alliance Intermediate Government Securities 0.50% 0.25% 0.07% 0.82%
Alliance International 0.85% 0.25% 0.20% 1.30%
Alliance Money Market 0.34% 0.25% 0.05% 0.64%
EQ/Alliance Premier Growth 0.90% 0.25% 0.00% 1.15%
Alliance Quality Bond 0.53% 0.25% 0.05% 0.83%
Alliance Small Cap Growth 0.75% 0.25% 0.07% 1.07%
EQ/Alliance Technology 0.90% 0.25% 0.00% 1.15%
EQ/AXP New Dimensions 0.65% 0.25% 0.05% 0.95%
EQ/AXP Strategy Aggressive 0.70% 0.25% 0.05% 1.00%
Calvert Socially Responsible 0.65% 0.25% 0.15% 1.05%
Capital Guardian Research 0.65% 0.25% 0.05% 0.95%
Capital Guardian U.S. Equity 0.65% 0.25% 0.05% 0.95%
EQ/Aggressive Stock 0.60% 0.25% 0.04% 0.89%
EQ/Balanced 0.57% 0.25% 0.05% 0.87%
EQ Equity 500 Index 0.25% 0.25% 0.10% 0.60%
EQ/Evergreen 0.65% 0.25% 0.05% 0.95%
EQ/Evergreen Foundation 0.60% 0.25% 0.10% 0.95%
FI /Mid Cap 0.70% 0.25% 0.05% 1.00%
FI Small/Mid Cap Value 0.75% 0.25% 0.10% 1.10%
EQ/Janus Large Cap Growth 0.90% 0.25% 0.00% 1.15%
MFS Emerging Growth Companies 0.65% 0.25% 0.10% 1.00%
MFS Growth with Income 0.60% 0.25% 0.10% 0.95%
MFS Research 0.65% 0.25% 0.05% 0.95%
Mercury Basic Value Equity 0.60% 0.25% 0.10% 0.95%
Mercury World Strategy 0.70% 0.25% 0.25% 1.20%
Morgan Stanley Emerging Markets Equity 1.15% 0.25% 0.35% 1.75%
EQ/Putnam Balanced 0.60% 0.25% 0.05% 0.90%
EQ/Putnam Growth & Income Value 0.60% 0.25% 0.10% 0.95%
T. Rowe Price Equity Income 0.60% 0.25% 0.10% 0.95%
T. Rowe Price International Stock 0.85% 0.25% 0.15% 1.25%
</TABLE>
4
SERIES 900 TSA ADVANTAGE
130545
<PAGE>
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Notes:
(1)For mortality and expense risks, and administrative and financial
accounting expenses. A portion of this charge is for providing the death
benefit.
(2)The management fees shown reflect revised management fees effective on or
about May 1, 2000, which were approved by shareholders, and which cannot be
increased without a vote of that portfolio's shareholders.
(3)Portfolio shares are all subject to fees imposed under the distribution plan
(the "Rule 12b-1 Plan") adopted by EQ Advisors Trust pursuant to Rule 12b-1
under the Investment Company Act of 1940. The 12b-1 fee can be increased in
accordance with the terms of the Rule 12b-1 Plan and the Investment Company
Act of 1940. Prior to October 18, 1999, the total annual expenses for the
Alliance Small Cap Growth portfolio were limited to 1.20% under an expense
limitation agreement related to that portfolio's Rule 12b-1 Plan. The
arrangement is no longer in effect. The amounts shown have been restated to
reflect the expenses that would have been incurred in 1999, absent the
expense limitation agreement.
(4)The amounts shown as "Other Expenses" will fluctuate from year to year
depending on actual expenses. See footnote (5) for any expense limitation
agreements. On October 18, 1999 the Alliance portfolios (other than
EQ/Alliance Premier Growth and EQ/Alliance Technology) became part of the
portfolios of EQ Advisors Trust. The "Other Expenses" for these portfolios
have been restated to reflect the estimated expenses that would have been
incurred, had these portfolios been portfolios of EQ Advisors Trust for the
entire year ended December 31, 1999. The restated expenses reflect an
increase of 0.01% for each of these portfolios.
(5)Equitable Life, EQ Advisors Trust's manager, has entered into an expense
limitation agreement with respect to certain portfolios. Under this agreement
Equitable Life has agreed to waive or limit its fees and assume other
expenses. Under the expense limitation agreement, total annual operating
expenses of certain portfolios (other than interest, taxes, brokerage
commissions, capitalized expenditures, extraordinary expenses and 12b-1 fees)
are limited as a percentage of the average daily net assets of each of the
following portfolios: 1.75% for Morgan Stanley Emerging Markets Equity; 1.25%
for T. Rowe Price International Stock; 1.20% for Mercury World Strategy;
1.15% for EQ/Alliance Premier Growth and EQ/Alliance Technology; 1.10% for FI
Small/Mid Cap Value; 1.00% for MFS Emerging Growth Companies; 0.95% for
Capital Guardian U.S. Equity, Capital Guardian Research, EQ/Evergreen
Foundation, MFS Growth with Income, MFS Research, Mercury Basic Value Equity;
EQ/Putnam Growth & Income Value, Mercury Basic Value Equity, MFS Growth with
Income, MFS Research, MFS Emerging Growth Companies, T. Rowe Price Equity
Income; and 0.90% for EQ/Putnam Balanced. The expense limitations for the
EQ/Putnam Growth & Income Value, FI Small/Mid Cap Value, Mercury Basic Value
Equity, MFS Growth with Income, MFS Emerging Growth Companies, T. Rowe Price
Equity Income and T. Rowe Price International Stock, portfolios reflect an
increase effective May 1, 2000. The expense limitation for the EQ/Evergreen
portfolio reflects a decrease effective on May 1, 2000. With respect to the
EQ/Janus Large Cap Growth and FI Mid Cap portfolios, the expense limitation
agreement began on September 1, 2000 and will end on August 30, 2001.
Absent the expense limitation, the "Other Expenses" for 1999 on an annualized
basis for each of the portfolios would have been as follows: 1.00% for Morgan
Stanley Emerging Markets Equity; 0.30% for T. Rowe Price International Stock;
0.46% for Mercury World Strategy; 0.23% for EQ/Alliance Premier Growth; 0.10%
for EQ/Alliance Technology; 0.24% for FI Small/Mid Cap Value; 0.17% for MFS
Emerging Growth Companies; 0.34% for Capital Guardian U.S.
5
SERIES 900 TSA ADVANTAGE
130545
<PAGE>
Equity, 0.47% for Capital Guardian Research, 1.87% for EQ/Evergreen; 1.07%
for EQ/Evergreen Foundation, 0.37% for MFS Growth with Income, 0.17% for
MFS Research, 0.17% for Mercury Basic Value Equity; 0.16% for EQ/Putnam
Growth & Income Value; 0.21% for T. Rowe Price Equity Income; and 0.28% for
EQ/Putnam Balanced. Initial seed capital was invested on April 30, 1999 for
EQ/Alliance Premier Growth, Capital Guardian U.S. Equity and Capital
Guardian Research portfolio and was invested on or about May 1, 2000 for
the EQ/Alliance Technology portfolio and therefore expenses have been
estimated. Each of the EQ/Janus Large Cap Growth, FI Mid Cap, EQ/AXP
Strategy Aggressive and EQ/AXP Dimensions portfolios commenced operations
on September 1, 2000 and we have estimated that absent the expense
limitation "Other Expenses" for 2000 on an annualized basis for each of the
portfolios would be: 0.10% for EQ/Janus Large Cap Growth; and 0.90% for FI
Mid Cap, EQ/AXP Strategy Aggressive and EQ/AXP Dimensions.
Each portfolio may at a later date make a reimbursement to Equitable
Life for any of the management fees waived or limited and other
expenses assumed and paid by Equitable Life 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 limitation determined for such portfolio. For more
information see the prospectus for EQ Advisors Trust.
The prospectus for the Class IB shares of EQ Advisor Trust is attached at the
end of the Prospectus.
EXAMPLES: SERIES 900 TSA ADVANTAGE CONTRACTS
For the series 900 TSA Advantage contract, the examples show the expenses that a
hypothetical contract owner would pay in the situations illustrated. We assume a
single contribution of $1,000 is invested in one of the variable investment
options listed and a 5% annual return is earned on assets in that option.1 The
annual administrative charge is based on charges that apply to an average
anticipated contract size, resulting in an estimated administrative charge for
the purpose of these examples of $1.29 per $1,000. We also assume there is no
waiver of the withdrawal charge. Total Separate Account A expenses used to
compute the example below are the maximum expenses rather than the lower current
expenses. The series 900 TSA Advantage contracts were first offered beginning
with the date of this Supplement.
These examples should not be considered a representation of past or future
expense for each option. 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.
<TABLE>
<CAPTION>
IF A CERTIFICATE IS SURRENDERED AT THE END OF EACH PERIOD SHOWN, THE EXPENSES
WOULD BE:
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1 Year 3 Years 5 Years 10 Years
------ ------- ------- --------
<S> <C> <C> <C> <C>
Alliance Common Stock $84.87 $136.63 $191.19 $262.76
Alliance Conservative Investors 86.55 141.65 199.53 280.59
Alliance Global 88.03 146.06 206.84 296.06
Alliance Growth and Income 86.25 140.76 198.06 277.46
Alliance Growth Investors 86.05 140.17 197.08 275.37
Alliance High Yield 86.35 141.06 198.55 278.50
Alliance Intermediate Government Securities 85.66 138.99 195.12 271.19
Alliance International 90.29 152.80 217.95 319.34
Alliance Money Market 83.79 133.37 185.76 251.06
EQ/Alliance Premier Growth 88.91 148.70 211.20 305.23
Alliance Quality Bond 85.66 138.99 195.12 271.19
Alliance Small Cap Growth 88.03 146.06 206.84 296.06
EQ/Alliance Technology 88.91 148.70 211.20 305.23
EQ/AXP New Dimensions 86.94 142.82 201.48 284.74
EQ/AXP Strategy Aggressive 87.43 144.30 203.92 289.90
</TABLE>
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SERIES 900 TSA ADVANTAGE
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<PAGE>
<TABLE>
<CAPTION>
1 Year 3 Years 5 Years 10 Years
------ ------- ------- --------
<S> <C> <C> <C> <C>
Calvert Socially Responsible $87.93 $145.77 $206.35 $295.04
Capital Guardian Research 86.94 142.82 201.48 284.74
Capital Guardian U.S. Equity 86.94 142.82 201.48 284.74
EQ/Aggressive Stock 86.25 140.76 198.06 277.46
EQ/Balanced 86.05 140.17 197.08 275.37
EQ Equity 500 Index 82.90 130.70 181.30 241.39
EQ/Evergreen 86.94 142.82 201.48 284.74
EQ/Evergreen Foundation 86.94 142.82 201.48 284.74
FI Mid Cap 87.43 144.30 203.92 289.90
FI Small/Mid Cap Value 88.42 147.23 208.78 300.15
EQ/Janus Large Cap Growth 88.91 148.70 211.20 305.23
MFS Emerging Growth Companies 87.43 144.30 203.92 289.90
MFS Growth with Income 86.94 142.82 201.48 284.74
MFS Research 86.94 142.82 201.48 284.74
Mercury Basic Value Equity 86.94 142.82 201.48 284.74
Mercury World Strategy 89.41 150.17 213.62 310.29
Morgan Stanley Emerging Markets Equity 94.83 166.18 239.85 364.27
EQ/Putnam Balanced 86.45 141.35 199.04 279.55
EQ/Putnam Growth & Income Value 86.94 142.82 201.48 284.74
T. Rowe Price Equity Income 86.94 142.82 201.48 284.74
T. Rowe Price International Stock 89.90 151.63 216.03 315.33
IF A CERTIFICATE IS NOT SURRENDERED AT THE END OF EACH PERIOD SHOWN, THE
EXPENSES WOULD BE:
------------------------------------------------------------------------
Alliance Common Stock $23.27 $71.69 $122.73 $262.76
Alliance Conservative Investors 25.05 77.04 131.66 280.59
Alliance Global 26.62 81.75 139.49 296.06
Alliance Growth and Income 24.74 76.10 130.09 277.46
Alliance Growth Investors 24.53 75.47 129.04 275.37
Alliance High Yield 24.84 76.41 130.61 278.50
Alliance Intermediate Government Securities 24.11 74.21 126.94 271.19
Alliance International 29.04 88.95 151.39 319.34
Alliance Money Market 22.11 68.21 116.91 251.06
EQ/Alliance Premier Growth 27.57 84.57 144.16 305.23
Alliance Quality Bond 24.11 74.21 126.94 271.19
Alliance Small Cap Growth 26.62 81.75 139.49 296.06
EQ/Alliance Technology 27.57 84.57 144.16 305.23
EQ/AXP New Dimensions 25.47 78.30 133.75 284.74
EQ/AXP Strategy Aggressive 25.99 79.87 136.36 289.90
Calvert Socially Responsible 26.52 81.44 138.97 295.04
Capital Guardian Research 25.47 78.30 133.75 284.74
Capital Guardian U.S. Equity 25.47 78.30 133.75 284.74
EQ/Aggressive Stock 24.74 76.10 130.09 277.46
EQ/Balanced 24.53 75.47 129.04 275.37
</TABLE>
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SERIES 900 TSA ADVANTAGE
130545
<PAGE>
<TABLE>
1 Year 3 Years 5 Years 10 Years
------ ------- ------- --------
<S> <C> <C> <C> <C>
EQ Equity 500 Index $21.17 $65.36 $112.13 $241.39
EQ/Evergreen 25.47 78.30 133.75 284.74
EQ/Evergreen Foundation 25.47 78.30 133.75 284.74
FI Mid Cap 25.99 79.87 136.36 289.90
FI Small/Mid Cap Value 27.04 83.01 141.57 300.15
EQ/Janus Large Cap Growth 27.57 84.57 144.16 305.23
MFS Emerging Growth Companies 25.99 79.87 136.36 289.90
MFS Growth with Income 25.47 78.30 133.75 284.74
MFS Research 25.47 78.30 133.75 284.74
Mercury Basic Value Equity 25.47 78.30 133.75 284.74
Mercury World Strategy 28.09 86.13 146.75 310.29
Morgan Stanley Emerging Markets Equity 33.86 103.23 174.85 364.27
EQ/Putnam Balanced 24.95 76.73 131.14 279.55
EQ/Putnam Growth & Income Value 25.47 78.30 133.75 284.74
T. Rowe Price Equity Income 25.47 78.30 133.75 284.74
T. Rowe Price International Stock 28.62 87.70 149.33 315.33
</TABLE>
(1)The amount accumulated from the $1,000 contribution could not be paid in the
form of an annuity at the end of any of the periods shown in the examples. This
is because if the amount applied to purchase an annuity payout option is less
than $2,000, or the initial payment is less than $20, we may pay the amount in a
single sum instead of as payments under an annuity payout option. See "Accessing
your money" in the Prospectus.
IF A PARTICIPANT ELECTS A VARIABLE ANNUITY PAYOUT OPTION:
Assuming an annuity payout option could be issued (see note (1) above), and a
participant elects a variable annuity payout option, the expenses shown in the
above example of "if a certificate is not surrendered" would, in each case, be
increased by $4.34 based on the average amount applied to annuity payout options
in 1999. See "Annuity administrative fee" in "Charges and expenses."
THE FOLLOWING INFORMATION REPLACES THE INFORMATION FOR EQUI-VEST TSA AND
UNIVERSITY TSA CONTRACTS IN THE CHART IN THE SECTION ENTITLED "HOW YOU CAN
PURCHASE AND CONTRIBUTE TO YOUR CONTRACT" ON PAGE 25 OF THE PROSPECTUS:
------------- ------------------------------------------------------------------
CONTRACT SOURCE OF CONTRIBUTIONS LIMITATIONS ON CONTRIBUTIONS
TYPE
------------- ------------------------------- ----------------------------------
Series 900 o Employer remitted employee o Maximum amount of contributions
TSA salary reduction and/or subject to tax law formula
Advantage various types of employer which varies.
contributions.
o Rollovers from another TSA o Maximum salary reduction
contract or arrangement or contribution is $10,500 for
from a traditional IRA which 2000.
was a "conduit" for TSA
funds previously rolled over.
o Direct transfers from o Rollover or direct transfer
another contract contributions after age 70 1/2
or arrangement must be net of required
complying with Internal minimum distributions.
Revenue Code ("Code")
Section 403(b) by means of
IRS Revenue Ruling 90-24.
o Aggregate direct rollover and
direct transfer contributions
must meet Equitable's
anticipated minimum contribution
requirements or meet minimum
plan participation requirements.
8
SERIES 900 TSA ADVANTAGE
130545
<PAGE>
THE LAST SENTENCE OF THE SECOND PARAGRAPH UNDER "IRA FUNDING" IN "CONTRACT
FEATURES AND BENEFITS" ON PAGE 26 OF THE PROSPECTUS IS REPLACED IN ITS ENTIRETY
BY THE FOLLOWING:
We may also refuse to accept any contribution if the sum of all contributions
under all Equitable Life accumulation annuities in which a participant has an
ownership interest would then total more than $2,500,000.
THE FIRST PARAGRAPH UNDER "OWNER AND ANNUITANT REQUIREMENTS" IN "CONTRACT
FEATURES AND BENEFITS" ON PAGE 26 OF THE PROSPECTUS IS REPLACED IN ITS ENTIRETY
BY THE FOLLOWING:
For the following employer-funded programs, the employee must be the owner and
the annuitant on the contract: SEP-IRA, SARSEP-IRA, SIMPLE-IRA and Annuitant
HR-10.
THE FIRST SENTENCE UNDER "SELECTING YOUR INVESTMENT METHOD" ON PAGE 31 OF THE
PROSPECTUS IS REPLACED IN ITS ENTIRETY BY THE FOLLOWING:
Contract owners must choose of one of the following two methods under which
participants will be able to select investment options.
THE FOLLOWING IS ADDED AT THE END OF THE FIRST PARAGRAPH UNDER "WITHDRAWING YOUR
ACCOUNT VALUE" IN "ACCESSING YOUR MONEY" ON PAGE 38 OF THE PROSPECTUS:
For series 900 TSA Advantage, participants may only withdraw amounts from their
participant account values that are 100% vested. If the plan contains a vesting
schedule for employer contributions, any participant withdrawal requests require
contract owner approval. In addition, in many instances when a participant is
under age 59 1/2, the participant's ability to withdraw funds from a series 900
TSA Advantage may be limited by the plan and section 403(b) of the Code. For
example, amounts attributable to salary reduction contributions may not be
withdrawn unless due to a participant's death, disability, separation from
service from the employer who provided the funds. Also, a participant may be
able to withdraw salary reduction contributions only (that is, no earnings) on
account of hardship under federal income tax rules.
THE FOLLOWING IS ADDED AS A NEW SECTION FOLLOWING "WITHDRAWING YOUR ACCOUNT
VALUE" IN "ACCESSING YOUR MONEY" ON PAGE 39 OF THE PROSPECTUS:
FORFEITURES. A plan may have a vesting schedule applicable to some or all
employer contributions. Forfeitures can arise when a participant who is not
fully vested under a plan separates from service. Participants should consult
the plan administrator to learn more about the vesting schedule. When a
forfeiture occurs, we will withdraw any unvested portion of a participant's cash
value and deposit such amount in a forfeiture account. The plan administrator
must tell us the unvested balance. We allocate amounts in the forfeiture account
to the Alliance Money Market variable investment option, unless otherwise agreed
to by the
9
SERIES 900 TSA ADVANTAGE
130545
<PAGE>
contract owner and us. Forfeited account values may be reallocated to
active plan participants in accordance with the terms of the plan. Special rules
apply to how the withdrawal charge will apply when forfeitures have occurred.
See "Withdrawal Charge for series 900 TSA Advantage contracts" under "Charges
and expenses".
THE FOLLOWING IS ADDED AS THE LAST SENTENCE OF THE FIRST PARAGRAPH UNDER "LOANS
UNDER TSA AND CORPORATE TRUSTEED CONTRACTS" IN "ACCESSING YOUR MONEY" ON PAGE 39
OF THE PROSPECTUS:
If the plan contains a vesting schedule for employer contributions, any
participant loan requests require contract owner approval.
THE SECTION ON "TERMINATION" UNDER "ACCESSING YOUR MONEY" ON PAGE 40 OF YOUR
PROSPECTUS IS DELETED IN ITS ENTIRETY AND REPLACED WITH THE FOLLOWING:
TERMINATION
We may terminate a participant's certificate and pay that participant the
certificate cash value if:
(1) a participant's account value is less than $500 and that participant has
not made contributions to the certficate for a period of three years;
(2) a participant requests a partial withdrawal that reduces that participant's
account value to an amount of less than $500;
(3) a participant has not made any contributions within 120 days from his or
her certificate date; or
(4) the plan is no longer qualified under Section 403(b) of the Code and the
series 900 TSA Advantage contract is terminated by us;
We will deduct the amount of any outstanding loan balance (including any
applicable withdrawal charge), any applicable market value adjustment on amounts
allocated to the fixed maturity options and any applicable withdrawal charge
from the account value when we terminate a certificate (see "Withdrawal charge
for series 900 TSA Advantage contracts," below and "Market value adjustment"
under "Fixed maturity options" on page 31 of the Prospectus).
The contract owner may discontinue a series 900 TSA Advantage contract.
Discontinuance of a contract means that the contract owner will not permit any
further salary deferral or employer contributions to be made to certificates
under the contract. If a series 900 TSA Advantage contract is discontinued the
contract owner may withdraw any cash value in the forfeiture account, as well as
any portion of a participant's certificate cash value that is not vested and:
(i) transfer such amounts to another 403(b) arrangement ("employer-designated
funding vehicle"); or (ii) transfer or distribute those funds in any other
manner permitted under section 403(b) of the Code. If a series 900 TSA Advantage
contract is discontinued, the participant may withdraw any portion of the cash
value in the certificate that is vested and: (i) directly transfer such cash
value to the employer-designated funding vehicle or permit the contract owner to
do so; (ii) directly transfer such amounts to a traditional IRA, if permitted
under federal
10
SERIES 900 TSA ADVANTAGE
130545
<PAGE>
tax law; (iii) retain such amounts, if permitted under federal tax
law; or (iv) maintain his or her certificate with us. In this case, amounts in
the certificate will continue to be subject to withdrawal charges based upon the
contract owner's original withdrawal charge schedule.
A series 900 TSA Advantage contract may only be terminated after all participant
certificates under the contract are terminated.
THE FOLLOWING IS ADDED AFTER THE INFORMATION UNDER "VARIABLE ANNUITY
ADMINISTRATIVE FEE" ON PAGE 49 OF THE PROSPECTUS:
CHARGES AND EXPENSES
--------------------------------------------------------------------------------
CHARGES UNDER SERIES 900 TSA ADVANTAGE CONTRACTS
CHARGE AGAINST THE SEPARATE ACCOUNT
We deduct this charge against the assets in the separate account to
compensate us for mortality and expense risks, as well as administrative and
financial accounting expenses under the contract. The charge is deducted
daily at an annual rate that varies by can vary by group between 0% to 1.35%
of daily net assets attributable to all of the certificates under the group
contract. Differences in this charge are due to variations in group
characteristics including:
-- the factors on which the mortality and expense risks charge and
administration charges are based,
-- the extent to which certain administrative functions in connection with
the series 900 TSA contracts are to be performed by us or by the contract
owner,
-- the expected average certificate size, and
-- the expected number of participants
The mortality risk we assume is the risk that annuitants as a group will live
for a longer time than our actuarial tables predict. If that happens, we would
be paying more in annuity benefits than we planned. We assume a mortality risk
to the extent that at the time of death, the guaranteed death benefit exceeds
the cash value of the contract. The expense risk we assume is the risk that it
will cost us more to issue and administer the contracts than we expect. To the
extent that the mortality and expense risk charges are not needed to cover the
actual expenses incurred, they may be considered an indirect reimbursement for
certain sales and promotional expenses relating to the contracts. A
participant's certificate will set forth the applicable separate account charge.
The administrative charge along with the annual administrative charge described
below, compensates us for the administrative services we perform under the
contracts and certificates.
11
SERIES 900 TSA ADVANTAGE
130545
<PAGE>
We will determine the separate account charge pursuant to our established
actuarial procedures, and will not discriminate unreasonably or unfairly against
owners of certificates under any series 900 TSA Advantage contracts.
ANNUAL ADMINISTRATIVE CHARGE
We deduct an administrative charge from each participant's annuity account value
on the last day of each certificate year. We will deduct a pro rata portion of
the charge if a participant surrenders the certificate, the annuitant elects an
annuity payout option, or dies during the certificate year. The charge is
currently equal to $25.
We may increase this charge if our administrative costs rise, but the charge
will never exceed $65 annually. We reserve the right to deduct this charge on a
quarterly, rather than annual basis.
CHARGE FOR THIRD-PARTY TRANSFER OR ROLLOVER
We deduct a charge for third-party transfer (such as in the case of a direct
transfer to another TSA arrangement or a direct rollover to a traditional IRA
contract). This charge is currently $25 ($65 maximum) per occurrence per
participant. In addition, this charge will be imposed on each third-party
transfer out of the contract's forfeiture account into another 403(b) funding
vehicle. This charge does not apply to reallocations from the forfeiture account
to participant annuity accounts under the contract.
WITHDRAWAL CHARGE FOR SERIES 900 TSA ADVANTAGE CONTRACTS
A withdrawal charge will apply during the first 6 contract years if: (i) a
participant transfers any certificate cash value to another annuity contract,
employer designated funding vehicle or other funding vehicle permitted under the
tax law; (ii) a participant has an outstanding loan that is defaulted; (iii) the
certificate is terminated; and (iv) a contract owner discontinues the contract
and transfers amounts to another 403(b) employer-designated funding vehicle or
transfers or distributes amounts in any other manner permitted under section
403(b) of the Code. In instances where a withdrawal charge applies, other than
where the certificate is terminated, in order to give a participant the exact
dollar amount of the withdrawal requested, we deduct the amount of the
withdrawal and the amount of the withdrawal charges from the participant's
account value. Any amount deducted to pay withdrawal charges is also subject to
a withdrawal charge. We deduct the amount of the withdrawal and the withdrawal
charge pro rata from the variable investment options and from the guaranteed
investment option. If these amounts are insufficient we will make up the
required amounts from the fixed maturity options in order of the earliest
maturities date(s). If we make up the required amounts from the fixed maturity
options, a market value adjustment will apply. In the case of a certificate
termination, we will pay the account value after the withdrawal charge has been
imposed (cash value).
The withdrawal charge is equal to 6% of the amount withdrawn from a
participant's annuity account value, or the defaulted loan amount. The total of
all withdrawal charges will never exceed 8% of all contributions made by the
participant during the first six contract years.
12
SERIES 900 TSA ADVANTAGE
130545
<PAGE>
FORFEITED ANNUITY ACCOUNT VALUE. If a portion of a participant's annuity account
value is forfeited under the terms of the plan, a withdrawal charge will only be
assessed against the vested contribution amounts. If the contract owner
withdraws the forfeited amount from the contract, a withdrawal charge will be
imposed at that time.
CHARGES FOR STATE PREMIUM AND OTHER APPLICABLE TAXES
We deduct a charge, determined by us, designed to approximate certain taxes that
may be imposed on us, such as premium taxes in a participant's state. Generally,
we deduct the charge from the amount applied to provide an annuity payout
option. The current tax charge that might be imposed varies by state and ranges
from 0% to 1%.
VARIABLE ANNUITY ADMINISTRATIVE FEE
We deduct a fee of up to $350 from the amount to purchase a variable annuity
payout option.
CHARGES THAT EQ ADVISORS TRUST DEDUCTS
EQ Advisors Trust deducts charges for the following types of fees and expenses:
o Investment advisory fees ranging from 0.25% to 1.15%.
o 12b-1 fees of 0.25% for Class IB shares.
o Operating expenses, such as trustees' fees, independent auditors' fees,
legal counsel fees, administrative service fees, custodian fees, and
liability insurance.
o Investment-related expenses, such as brokerage commissions.
These charges are reflected in the daily share price of each portfolio. Since
shares of EQ Advisors Trust are purchased at their net asset value, these fees
and expenses are, in effect, passed on to the variable investment options and
are reflected in their unit values. For more information about these charges,
please refer to the prospectus for EQ Advisors Trust following the Prospectus.
THE FIRST BULLET UNDER "CONTRIBUTIONS TO TSAS" IN "TAX INFORMATION" ON PAGE 53
OF THE PROSPECTUS IS REPLACED IN ITS ENTIRETY BY THE FOLLOWING:
o annual contributions made through the employer's payroll, which may include
a participant's salary reduction contributions and employer contributions.
Some employer contributions may be subject to forfeiture under an
employer's plan.
13
SERIES 900 TSA ADVANTAGE
130545
<PAGE>
THE FOURTH SENTENCE UNDER "ANNUAL CONTRIBUTIONS" IN "TAX INFORMATION" ON PAGE 53
OF THE PROSPECTUS IS REPLACED IN ITS ENTIRETY BY THE FOLLOWING:
However, a TSA can also be wholly or partially funded through non-elective
employer contributions or contributions treated as after-tax employee
contributions.
THE FOLLOWING IS ADDED TO END OF THE FIRST BULLET UNDER "ANNUAL CONTRIBUTIONS"
IN "TAX INFORMATION" ON PAGE 54 OF THE PROSPECTUS:
Employer contributions subject to forfeiture are not taken into account until
vested for this formula. Therefore, previously contributed funds may affect the
amount available to be contributed under this formula.
THE FOLLOWING IS ADDED TO THE END OF THE SECOND BULLET UNDER "ANNUAL
CONTRIBUTIONS" IN "TAX INFORMATION" ON PAGE 54 OF THE PROSPECTUS:
Employer contributions subject to forfeiture are taken into account under this
formula.
THE FIRST SENTENCE UNDER "ROLLOVER OR DIRECT TRANSFER CONTRIBUTIONS" IN "TAX
INFORMATION" ON PAGE 54 OF THE PROSPECTUS IS REPLACED IN ITS ENTIRETY BY THE
FOLLOWING:
Rollover contributions to the EQUI-VEST TSA contract from TSAs under Section
403(b) of the Internal Revenue Code from a Section 403(b) (7) custodial account
or from an IRA to which only prior TSA distributions were rolled over may be
made.
THE SECOND SENTENCE UNDER "ROLLOVER OR DIRECT TRANSFER CONTRIBUTIONS" IN "TAX
INFORMATION" ON PAGE 54 OF THE PROSPECTUS IS REPLACED IN ITS ENTIRETY BY THE
FOLLOWING:
A transfer occurs when changing the funding vehicle of a 403(b) arrangement.
THE LAST PARAGRAPH UNDER "ROLLOVER OR DIRECT TRANSFER CONTRIBUTIONS" IN "TAX
INFORMATION" ON PAGE 54 OF THE PROSPECTUS IS DELETED IN ITS ENTIRETY.
THE SECOND SENTENCE UNDER "DISTRIBUTIONS FROM QUALIFIED PLANS AND TSAS --
WITHDRAWAL RESTRICTIONS" ON PAGE 55 OF THE PROSPECTUS, IS REPLACED IN ITS
ENTIRETY BY THE FOLLOWING:
These restrictions apply to salary reduction or elective deferral contributions
and earnings on those contributions and also apply to all amounts that were ever
invested in a 403(b)(7) custodial account and transferred to this contract in a
Revenue Ruling 90-24 direct transfer. The plan may also impose withdrawal
restrictions on employer contributions and related earnings.
14
SERIES 900 TSA ADVANTAGE
130545
<PAGE>
THE SECOND PARAGRAPH UNDER "DISTRIBUTIONS FROM QUALIFIED PLANS AND TSAS --
WITHDRAWAL RESTRICTIONS" ON PAGE 55 OF THE PROSPECTUS, IS REPLACED IN ITS
ENTIRETY BY THE FOLLOWING:
For amounts that were directly transferred to this contract in a Revenue Ruling
90-24 transfer from another annuity contract, these withdrawal restrictions may
not apply to 403(b) account values attributable to salary reduction
contributions to the contract and earnings on December 31, 1988 or to account
values attributable to employer contributions.
THE LAST SENTENCE OF THE LAST PARAGRAPH UNDER "TAX TREATMENT OF DISTRIBUTIONS
FROM QUALIFIED PLANS AND TSAS" ON PAGE 55 OF THE PROSPECTUS, IS REPLACED IN ITS
ENTIRETY BY THE FOLLOWING:
Since we do not track investments in the contract, if any, it is the
participant's responsibility to determine how much of the distributions, if any,
is taxable.
--------------------------------------------------------------------------------
INVESTMENT PERFORMANCE
Pages 77 and 78 of the Prospectus describe certain measurements of investment
performance of the variable investment options and/or the portfolios in which
they invest. The tables following this discussion may be of general interest.
Since charges under the series 900 TSA Advantage contract as well as the series
of contracts described in the Prospectus vary, the tables on pages 79-87 of the
Prospectus assume for each charge included the highest that might apply. Charges
under the series 900 TSA Advantage contract are lower than the charges used in
computing the investment performance in the Prospectus tables.
15
SERIES 900 TSA ADVANTAGE
130545
<PAGE>
SIGNATURES
As required by the Securities Act of 1933 and the Investment Company
Act of 1940, the Registrant has duly caused this amendment to the Registration
Statement to be signed on its behalf, in the City and State of New York, on the
31st day of October, 2000.
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/ Robin Wagner
-------------------------
Robin Wagner
Vice President and Counsel
The Equitable Life Assurance
Society of the United States
<PAGE>
SIGNATURES
As required by the Securities Act of 1933 and the Investment Company
Act of 1940, the Depositor has duly caused this amendment to the Registration
Statement to be signed on its behalf, in the City and State of New York,
on the 31st day of October, 2000.
THE EQUITABLE LIFE ASSURANCE SOCIETY
OF THE UNITED STATES
(Depositor)
By: /s/ Robin Wagner
------------------------
Robin Wagner
Vice President and Counsel
The Equitable Life Assurance
Society of the United States
As required by the Securities Act of 1933, 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:
*Alvin H. Fenichel Senior Vice President and Controller
*DIRECTORS:
Francoise Colloc'h Donald J. Greene George T. Lowy
Henri de Castries John T. Hartley Edward D. Miller
Joseph L. Dionne John H.F. Haskell, Jr. Didier Pineau-Valencienne
Denis Duverne Michael Hegarty George J. Sella, Jr.
Jean-Rene Fourtou Mary R. (Nina) Henderson Peter J. Tobin
Norman C. Francis W. Edwin Jarmain Stanley B. Tulin
Dave H. Williams
*By: /s/ Robin Wagner
-------------------------
Robin Wagner
Attorney-in-Fact
October 31, 2000
