Aetna Life Insurance and Annuity Company
ENDORSEMENT
This Contract is hereby endorsed as follows:
Add to Section I. GENERAL DEFINITIONS the following paragraph:
Good Order: An authorized Participant or Contract Holder instruction to
Aetna is in Good Order when given with such clarity and completeness
that Aetna is not required to exercise any discretion, utilizing such
forms as Aetna may require.
Section 3.08 Contract Reserve - add the following paragraphs to the end of
subsection (d) as follows:
If Aetna maintains two Individual Accounts for each Participant (see
3.02), one annual $30 charge will apply for the two Individual
Accounts. Unless instructed otherwise by the Contract Owner, the charge
will apply to the Individual Account used for crediting employer
deposits. If the Reserve is insufficient, the charge will be deducted
from the Individual Account used for crediting employee deposits.
Aetna agrees to waive the annual charge for a Participant on the
Contract Year anniversary whenever:
(a) The Reserve of all the Participant's Individual Accounts is less
than $100; or
(b) The initial Net Deposit is credited to an Individual Account of a
newly enrolled Participant within 90 calendar days of the
Contract Year anniversary.
The annual charge may be paid separately by the Contract Owner to
Aetna. If this option is requested, a notice will be mailed to the
Owner on the Contract Year anniversary. If it is not paid by the Owner
by the thirtieth (30th) calendar day following the Contract Year
anniversary, the charge will be deducted from each Participant's
Individual Account. Unless the Owner requests a reinstatement of the
notice, the annual charge will continue for all subsequent Contract
Years.
The Contract Owner may be eligible for a $5 annual charge reduction per
Plan Participant, providing that both of the following conditions are
met:
(a) There must be 25 or more active Participants enrolled under the
Contract.
(b) The Contract Owner must sign an agreement to remit electronic
data, in a format acceptable to Aetna, for crediting employer
and/or employee Net Deposits to the Participant Individual
Accounts. This agreement is revocable at Aetna's discretion, if
the electronic data is determined not to be in Good Order.
Section 3.08 Contract Reserve - add the following paragraph to the end of
subsection (e) as follows:
The annual charge may be paid separately by the Contract Owner to
Aetna. If this option is requested, a notice will be mailed to the
Owner on the Contract Year anniversary. If it is not paid by the Owner
by the thirtieth (30th) calendar day following the Contract Year
anniversary, the charge will be deducted from the unallocated Plan
Account. Unless the Owner requests a reinstatement of the notice, the
annual charge will continue for all subsequent Contract Years.
Endorsed and made part of this Contract effective June 1, 1992.
/s/ Xxxxx X. Xxxxx
Senior Vice President, ALIAC Pensions
Aetna Life Insurance and Annuity Company
2
