THE PRUDENTIAL [Logo] December 31, 1989
AMENDMENT TO BE ATTACHED TO AND MADE A PART OF
GROUP ANNUITY CONTRACTS
(the "Contracts")
ISSUED TO THE CONTRACT-HOLDER
BY
THE PRUDENTIAL INSURANCE COMPANY OF AMERICA
(the "Prudential")
The Group Annuity Contracts provide that the Contracts may be amended by
agreement between the Contract-Holder and Prudential. Therefore, by mutual
agreement between the signatories below, the contract is hereby amended in the
following respects:
1. TRANSFER CONTRIBUTIONS: Effective January 1, 1987, the following amounts
may be transferred to and paid as a contribution under the Contracts for a
Participant:
(a) an amount which qualifies as a rollover contribution pursuant to the
Internal Revenue Code of 1986, as amended (the "Code"); or
(b) an amount which arises from a Participant's interest in another
eligible deferred compensation plan pursuant to Code Section
457(d)(10).
The Prudential may require proof that all amounts transferred to the
Contracts meet the requirements of the Code and any applicable Rulings or
Regulations issued by the Internal Revenue Service.
2. DEATH PAYMENTS: Effective January 1, 1987, death benefits payable under the
Contracts on behalf of the Participant's Beneficiary prior to the date on
which distributions have commenced for the Participant pursuant to item 4.
below, will be paid as set forth in this item 2. Death benefits payable
under the Contracts on behalf of the Participant's Beneficiary on or after
the date on which distributions have commenced for the Participant pursuant
to item 4. below will be paid as set forth in item 4. below.
The Beneficiary may elect payment in any of the following forms, unless the
Participant has directed otherwise or unless the Plan provides otherwise:
(a) a lump sum;
(b) an annuity form described in the Contracts, other than one which
provides for payment after the death of the Annuitant to a Contingent
Annuitant;
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(c) any other settlement method to which Prudential consents and which is
not contrary to the terms of the Plan; or
(d) a combination of all or any two of (a), (b) and (c) above.
All payments made pursuant to this item 2. will be made to the
Contract-Holder, except as otherwise provided in the Contracts. In
addition, the Contract-Holder shall retain all rights with respect to any
annuity purchased on behalf of the Beneficiary.
Any form of distribution paid pursuant to this item 2. will meet the
requirements of Code Sections 401(a)(9) and 457(d) and the Regulations
issued thereunder.
3. TRANSFERS TO ANOTHER FINANCIAL INSTITUTION: Effective January 1, 1987, the
Contract-Holder may transfer, pursuant to the request of a Participant, a
portion of such Participant's Account(s) to another financial institution,
if such transfer is permitted by the terms of the Plan. Such transfer will
be permitted on the same basis as partial transfers are permitted between
Related Contracts (i.e., companion contracts) under the Contracts, except
that any charges otherwise applicable to withdrawals under the Contracts
will apply to the amount elected for transfer.
4. DISTRIBUTIONS: Effective January 1, 1987, a Participant may, in accordance
with the terms of the Plan, elect to receive a distribution of his
Account(s) under the Contracts in any of the following forms:
(a) a lump sum;
(b) any annuity form described in the Contracts;
(c) any other settlement method to which Prudential consents and which is
not contrary to the terms of the Plan; or
(d) a combination of all or any two of (a), (b) and (c) above.
Any portion of a Participant's Account(s) which is payable as a lump sum
will be subject to the withdrawal provisions under the Contracts.
Payments becoming due to the Beneficiary of a Participant for whom a
distribution commenced pursuant to paragraph (c) will continue to be made
on behalf of the Beneficiary in the same amount and frequency as such
payments were being made for the Participant until the Participant's
Account is exhausted, unless the Beneficiary elects a lump sum payment of
the remaining portion of the Participant's Account.
Payments becoming due to the Beneficiary of a Participant for whom an
annuity commenced pursuant to paragraph (b) will, unless the Participant
has directed otherwise, be paid as provided under the terms of the annuity
as described in the Contracts.
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All payments made pursuant to this item 4. will be made to the
Contract-Holder, except as otherwise provided in the Contracts. In
addition, the Contract-Holder will retain all rights with respect to any
annuity purchased on behalf of a Participant.
Anything in the Contracts to the contrary notwithstanding, any payments
made on behalf of a Participant or Beneficiary in accordance with this item
4. will meet the requirements of Code Sections 401(a)(9) and 457(d) and the
Regulations issued thereunder.
5. ANNUITIES: Effective January 1, 1987, all annuities purchased under the
Contracts will meet the requirements of Code Sections 401(a)(9) and 457(d)
and the Regulations issued thereunder.
The purpose of this amendment is to meet the requirements of the federal
Internal Revenue Code as amended by the Tax Reform Act of 1986.
CONTRACT-HOLDER
Dated:________________________ By:___________________________________
Title:
THE PRUDENTIAL INSURANCE COMPANY
OF AMERICA
Dated:________________________ By:____________________________________
Title:
VICE PRESIDENT, CONTRACTS
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