THE PRUDENTIAL THE PRUDENTIAL
INSURANCE COMPANY
OF AMERICA
AMENDMENT TO BE ATTACHED TO AND MADE A PART OF GROUP
ANNUITY CONTRACT NO.________
Section 5.3 of the contract provides that Prudential has the right to change the
contract as, in its discretion, it deems appropriate to satisfy the requirements
of any law or regulation administered by a governmental agency. Pursuant to such
right, the contract is hereby amended as of the Effective Date of the contract,
to comply with federal regulations pertaining to death benefits and annuity
distributions. Consequently, this amendment is effectuated as follows:
1. Section 3.2 of the contract, as constituted immediately prior to the
execution of this amendment, is hereby replaced with the following:
"3.2 Death Payments:
If a Participant dies before his Participant's Account has been
cancelled, the dollar value of the non-forfeitable part of his
Account will be paid to his Beneficiary (see section 7.6). If the
Beneficiary is other than the Participant's spouse, the payment
will be made in one sum within 5 years of the Participant's death
unless the Participant has directed Prudential to purchase an
annuity for the Beneficiary. If the Participant's spouse is the
Beneficiary, the payment will be made in one sum no later than the
latest date on which the spouse is permitted to defer the
distribution under law unless the Participant has directed
Prudential to purchase an annuity for the spouse. Instead of a one
sum payment, the Beneficiary may elect to have the dollar value of
the Participant's Account applied to purchase an annuity. Written
authorization from the Contract-Holder and proof of the
Participant's death must be received by Prudential before any
payment will be made. Any payment made pursuant to this section
must be consistent with the terms of the Plan, if any.
The Beneficiary's annuity election must be made before the
Participant's Account is distributed. The annuity form may be any
of those described in section 4.4. If annuity payments are to
start at a future date, the Participant's Account will be
maintained for the Beneficiary in the same manner as for the
Participant. The date for payments to start must be on or before
the latest date on which the Beneficiary is permitted to defer the
distribution under law. No contributions may be made to the
Account after the Participant's death.
If a one sum payment is made to the Beneficiary within one year of
the Participant's death, it will be at least equal to the
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contributions made for him under this contract less any
withdrawals and transfers.
Any annuity payments to a Beneficiary will be subject to the
following:
(a) If an annuity is payable to the Participant's spouse, it
must provide for payment to be made over the life of the
spouse (or over a period not exceeding the life expectancy
of the spouse), and
(b) If an annuity is payable to a Beneficiary who is other than
the Participant's spouse, it must provide for payment to be
made over the Life of the Beneficiary (or over a period not
exceeding the life expectancy of the Beneficiary).
As of the first day no amounts remain in the Participant's Account
or in an Account with respect to the Participant under a companion
contract, the Participant's Account is cancelled. Section 3.1 does
not apply."
2. The last paragraph of section 4.1 of the contract, as constituted
immediately prior to the execution of this amendment is hereby replaced with
the paragraph following:
"If the Participant's Account has not been cancelled before the month in
which he reaches the latest age at which he is permitted to defer his
distribution under law, a 120 monthly Payment Certain annuity will be
purchased for him at the beginning of that month (see section 4.4)."
The Prudential has caused this amendment to be executed and duly attested as of
THE PRUDENTIAL INSURANCE COMPANY
OF AMERICA
Attest:_________________ /s/ Xxxxxxxx X. Xxxxxxxx
Florham Park. New Jersey Secretary
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