Registration No. 333-64751
Registration No. 811-08754
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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. 7
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AND/OR
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 | |
|X|
Amendment No. 35
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(Check appropriate box or boxes)
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SEPARATE ACCOUNT 45
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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ROBIN WAGNER
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):
|X| Immediately upon filing pursuant to paragraph (b) of Rule 485.
| | On (date) pursuant to paragraph (b) of Rule 485.
| | 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.
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Title of Securities Being Registered:
Units of interest in Separate Account under variable annuity
contracts.
<PAGE>
NOTE
This Post-Effective Amendment No. 7 to the Form N-4 Registration Statement
No. 333-64751 ("Registration Statement") of The Equitable Life Assurance Society
of the United States and its Separate Account No. 45 is being filed solely for
the purposes of including in the Registration Statement a supplement to the
Equitable Accumulator Plus Prospectuses and Statement of Additional Information
as previously supplemented and additional exhibits to Part C. The Post-Effective
Amendment does not amend or delete the Prospectus or Statement of Additional
Information, last filed as part of the Registration Statement or any other part
of the Registration Statement or any subsequent supplements thereto except as
specifically noted herein.
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES --
SUPPLEMENT DATED DECEMBER 31, 2000 TO THE ACCUMULATOR PLUS PROSPECTUS
DATED MAY 1, 2000
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This supplement modifies certain information in the above-referenced prospectus,
as supplemented to date (together, the "Prospectus"). Unless otherwise
indicated, all other information included in the Prospectus remains unchanged.
The terms and section headings we use in this supplement have the same meaning
as in the Prospectus.
1. The following is inserted as the second to the last sentence under "Credit"
on page 8 of the Prospectus:
For contracts issued on or after March 19, 2001, the amount of the credit may be
up to 6% of each contribution, depending on certain factors.
2. The following is inserted as the last paragraph of the third bullet under
"Fees and charges" on page 9 of the Prospectus:
For contracts issued on or after March 19, 2001, this charge will be deducted
for the first eight contract years following a contribution. For these
contracts, the charge is 8% during the first two contract years following a
contribution and declines by 1% each year in the third to eighth contract year
following a contribution. For these contracts, there is no withdrawal charge in
the ninth and later contract years following a contribution.
3. The following is inserted as a footnote to the withdrawal charge schedule,
year 9 on pages 10 and 33 of the Prospectus:
**For contracts issued on or after March 19, 2001 this is equal to 0.00%.
4. The following replaces the second paragraph under "Credits" on page 21 of
the Prospectus.
For contracts issued on or after March 19, 2001, the amount of the credit will
be 4%, 5%, or 6% of each contribution based on the following breakpoints and
rules:
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FIRST YEAR TOTAL NET CONTRIBUTION* CREDIT PERCENTAGE APPLIED TO
BREAKPOINTS CONTRIBUTIONS
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Less than $250,000 4%
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$250,000-$999,999 5%
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$1 million or more 6%
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*FIRST YEAR TOTAL NET CONTRIBUTIONS" means your first year total
contributions less any withdrawals (including withdrawal charges) in
the first contract year.
The percentage of the credit is based on your first year total net
contributions. This credit percentage will be credited to each contribution made
in the first year (after adjustment as described below), as well as the second
and later contract years. Although the credit, as adjusted at the end of the
first contract year, will be based upon first year total net contributions, the
following rules affect the percentage with which contributions made in the first
contract year are credited during the first contract year:
o Indication of intent: If you indicate in the application at the time you
purchase your contract an intention to make a sufficient level of
contributions to meet one of the breakpoints (the "Expected First Year
Contribution Amount") and your initial contribution is at least 50% of the
Expected First Year Contribution Amount your credit percentage will be as
follows:
o For any contributions resulting in total net contributions to date less
than or equal to your Expected First Year Contribution Amount, the credit
percentage will be the percentage that applies to the Expected First Year
Contribution Amount based on the table above.
<PAGE>
o For any subsequent contribution that results in your total net
contributions to date exceeding your Expected First Year Contribution
Amount, such that the credit percentage should have been higher, we
will increase the credit percentage applied to that contribution as
well as any prior or subsequent contributions made in the first
contract year accordingly.
o No indication of intent:
o For your initial contribution we will apply the credit percentage based
upon the above table.
o For any subsequent contribution that results in a higher applicable
credit percentage (based on total net contributions to date), we will
increase the credit percentage applied to that contribution as well as
any prior or subsequent contributions made in the first contract year
accordingly.
We may recover all of the Credit or a portion of the Credit (referred to as the
"excess Credit") in the following situations:
o If you exercise your right to cancel the contract we will recover the entire
Credit made to your contract (see "Your right to cancel within a certain
number of days" below).[superscript] 1
o If you start receiving annuity payments within three years of making any
contribution, we will recover the Credit that applies to any contribution
made within the prior three years.[superscript] 2
o If at the end of the first contract year your contributions have been over
credited based upon your first year total net contributions, we will recover
the excess Credit. This recovery can occur under two circumstances as
follows:
o Your first year total net contributions were lower than your Expected
First Year Contribution Amount such that the credit applied should have
been lower [superscript] 3, and
o Your first year total net contributions were lower than the first year
total contributions such that the credit applied should have been lower.
[superscript] 3
The excess Credit is equal to the difference between the credit that was
actually applied based on first year total contributions or your Expected First
Year Contribution Amount (as applicable) and the credit that should have been
applied based on first year total net contributions.
We will recover the any Credit on a pro rata basis from the value in your
variable investment options.
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1 We have applied to the Securities and Exchange Commission ("SEC") for an
amendment to our exemptive order that would enable us to recover the amount of
any credit above 5% applied to contracts that are cancelled during this period.
Until we receive such relief, we will return, upon cancellation, the amount you
would have received had there been no credit above 5%. This means that except in
states where we are required by law to return the amount of your contributions,
the amount we return will reflect any investment gain or loss in the variable
investment options associated with your contributions, will include any charges
deducted that reduced the contract value prior to cancellation, and will reflect
any investment gain on the credit but will not include any investment loss
associated with the amount of the credit above 5%. If and when we receive the
amendment to our exemptive order, the amount we return to you upon exercise of
this right to cancel will not include any credit or the amount of charges
deducted prior to cancellation but will reflect, except in states where we are
required to return the amount of your contributions, any investment gain or loss
in the variable investment options associated with your contributions and with
the full amount of the credit.
2 We may currently recover up to 5% of contributions that we have credited. We
have applied to the SEC for an amendment to our exemptive order that would allow
us to recover up to 6% of contributions that we have credited. We will only
recover these extra amounts if and when the SEC permits us to do so.
3 We have applied to the SEC for an amendment to our exemptive order that would
permit us to recover in these circumstances. We will only recover in these
circumstances if and when the SEC permits us to do so.
<PAGE>
PART C
OTHER INFORMATION
This Part C is amended solely for the purpose of adding Exhibits 4(n) and (o)
and 5(b) to Item 24(b). No amendment or deletion is made of any other
information previously set forth under Part C in the Registration Statement.
Item 24. Financial Statements and Exhibits.
(b) Exhibits.
The following exhibits are added herewith:
4.(n) Revised form of data pages for Equitable Accumulator Plus.
(o) Form of Contract Endorsement for Equitable Accumulator Plus.
5.(b) Revised form of Enrollment Form/Application for Equitable Accumulator
Plus.
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SIGNATURES
As required by the Securities Act of 1933 and the Investment Company
Act of 1940, the Registrant certifies that it meets all of the requirements for
effectiveness of this Amendment to the Registration Statement pursuant to Rule
485(b) under the Securities Act of 1933, and has duly caused this amendment to
this Registration Statement to be signed on its behalf, in the City and State of
New York, on the 20th day of December, 2000.
SEPARATE ACCOUNT 45 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
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Robin Wagner
Vice President and Counsel
The Equitable Life Assurance
Society of the United States
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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 20th day of December, 2000.
THE EQUITABLE LIFE ASSURANCE SOCIETY
OF THE UNITED STATES
(Depositor)
By: /s/ Robin Wagner
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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
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Robin Wagner
Attorney-in-Fact
December 20, 2000
