Transcription
EQUI-VEST (Series 201)Employer-Sponsored Retirement PlansMay 1, 2020Issued by Equitable Financial Life Insurance Company.
Table of ContentsVariable Product ProspectusPageEQUI-VEST (Series 201)1Summary ProspectusesPage LabelEQ Premier VIP TrustCharterSM ModerateCMOD 1-9EQ/Aggressive AllocationAAA 1-7EQ/Conservative AllocationACA 1-7EQ/Conservative-Plus AllocationACPA 1-7EQ/Core Plus BondCMSB 1-10EQ/Moderate AllocationAMA 1-7EQ/Moderate-Plus AllocationAMPA 1-7Target 2015 Allocation2015A 1-7Target 2025 Allocation2025A 1-7Target 2035 Allocation2035A 1-7Target 2045 Allocation2045A 1-7Target 2055 Allocation2055A 1-7EQ Advisors Trust1290 VT DoubleLine DynamicAllocationVTDD 1-111290 VT DoubleLine OpportunisticBondVTDO 1-81290 VT Equity IncomeVTEI 1-51290 VT GAMCO Small CompanyValueVTGSC 1-41290 VT High Yield BondVTHY 1-81290 VT Small Cap ValueVTSC 1-71290 VT SmartBeta EquityVTSB 1-61290 VT Socially ResponsibleVTSR 1-6EQ/400 Managed VolatilityA400MV 1-7EQ/500 Managed VolatilityA500MV 1-7EQ/2000 Managed VolatilityA2000MV 1-7EQ/AB Dynamic Moderate GrowthAABDMG 1-9EQ/AB Small Cap GrowthAASCG 1-5EQ/All Asset Growth AllocationEQAA 1-9EQ/American Century Mid Cap Value EQACMCV 1-5EQ/Balanced StrategyABSA 1-7EQ/BlackRock Basic Value EquityEQBBV 1-5EQ/ClearBridge Select EquityManaged VolatilityAMLCEMV 1-8EQ/Common Stock IndexEQCTI 1-4EQ/Conservative Growth StrategyACGA 1-7EQ/Conservative StrategyACSA 1-8EQ/Core Bond IndexEQCBI 1-5EQ/Emerging Markets Equity PLUSEQEMEP 1-7EQ/Equity 500 IndexEQ500I 1-4EQ/Fidelity Institutional AM LargeCapEQFILC 1-6EQ/Franklin Balanced ManagedVolatilityAFBMV 1-10(890951)Page LabelEQ/Franklin Small Cap ValueManaged VolatilityEQ/Franklin Templeton AllocationManaged VolatilityEQ/Global Bond PLUSEQ/Global Equity Managed VolatilityEQ/Goldman Sachs Mid Cap ValueEQ/International Core ManagedVolatilityEQ/International Equity IndexEQ/International Managed VolatilityEQ/International Value ManagedVolatilityEQ/Invesco ComstockEQ/Invesco GlobalEQ/Invesco Global Real EstateEQ/Invesco International GrowthEQ/Janus EnterpriseEQ/JPMorgan Value OpportunitiesEQ/Large Cap Core ManagedVolatilityEQ/Large Cap Growth IndexEQ/Large Cap Growth ManagedVolatilityEQ/Large Cap Value IndexEQ/Large Cap Value ManagedVolatilityEQ/Lazard Emerging Markets EquityEQ/MFS International GrowthEQ/MFS International Intrinsic ValueEQ/MFS Mid Cap Focused GrowthEQ/MFS TechnologyEQ/MFS Utilities SeriesEQ/Mid Cap IndexEQ/Mid Cap Value Managed VolatilityEQ/Moderate Growth StrategyEQ/Money MarketEQ/PIMCO Global Real ReturnEQ/PIMCO Ultra Short BondEQ/Quality Bond PLUSEQ/Small Company IndexEQ/T. Rowe Price Growth StockEQ/Templeton Global EquityManaged VolatilityEQ/Wellington EnergyMultimanager Aggressive EquityMultimanager Core BondMultimanager TechnologyAFSCVMV 1-8EQFTAMV 1-9EQGBP 1-8AGEMV 1-9EQGSMCV 1-6AICMV 1-8EQIEI 1-5AIMV 1-7AIVMV 1-8EQICK 1-5EQOG 1-5EQIGRE 1-8EQIIG 1-6AJE 1-6EQJPMV 1-4ALCCMV 1-8EQLCGI 1-4EQLCGMV 1-8EQLCVI 1-4ALCVMV 1-8EQLEME 1-5EQMG 1-6EQMFIV 1-7EQIMCG 1-6EQMFT 1-6EQMUS 1-7EQMCI 1-5AMCVMV 1-8AMGSA 1-7EQMM 1-5EQPGRR 1-8EQPUS 1-7EQQBP 1-8EQSCI 1-4EQTGS 1-5ATGEMV 1-9EQIE 1-6MMAE 1-6MMCB 1-9MMT 1-6
EQUI-VEST (Series 201)Employer-Sponsored Retirement PlansProspectus dated May 1, 2020Please read and keep this prospectus for future reference. Itcontains important information that you should know beforepurchasing or taking any other action under your contract.This prospectus supersedes all prior prospectuses andsupplements. You should read the prospectuses for each Trustwhich contain important information about the portfolios.What is EQUI-VEST ?EQUI-VEST is a deferred annuity contract issued by EquitableFinancial Life Insurance Company (the “Company”, “we”,“our” and “us”), formerly AXA Equitable Life Insurance Company. It provides for the accumulation of retirement savings andfor income. The contract also offers death benefit protectionand a number of payout options. You invest to accumulatevalue on a tax-deferred basis in one or more of our variableinvestment options, the guaranteed interest option or theaccount for special dollar cost averaging (“investment options”).This prospectus is a disclosure document and describes all ofthe contract’s material features, benefits, rights and obligations,as well as other information. The description of the contract’smaterial provisions in this prospectus is current as of the date ofthis prospectus. If certain material provisions under the contractare changed after the date of this prospectus in accordancewith the contract, those changes will be described in asupplement to this prospectus. You should carefully read thisprospectus in conjunction with any applicable supplements.The contract should also be read carefully. You have the rightto cancel the contract within a certain number of days afterreceipt of the contract.The contract may not currently be available in all states. Alloptional features and benefits described in this prospectus maynot be available at the time you purchase the contract. Wehave the right to restrict availability of any optional feature orbenefit. We can refuse to accept any application or contributionfrom you at any time, including after you purchase the contract.Variable investment options Multimanager Aggressive Equity Multimanager TechnologyFixed income(1) 1290 VT DoubleLine OpportunisticBond 1290 VT High Yield Bond American Funds Insurance Series Bond Fund EQ/Core Bond Index EQ/Core Plus Bond(1) EQ/Global Bond PLUS EQ/Money MarketEQ/PIMCO Global Real ReturnEQ/PIMCO Ultra Short BondEQ/Quality Bond PLUSInvesco V.I. High YieldIvy VIP High IncomeMultimanager Core BondTempleton Global Bond VIPDomestic Equity 1290 VT Equity Income 1290 VT GAMCO Small CompanyValue 1290 VT Small Cap Value 1290 VT Socially Responsible EQ/400 Managed Volatility EQ/500 Managed Volatility EQ/2000 Managed Volatility EQ/AB Small Cap Growth EQ/American Century Mid CapValue EQ/BlackRock Basic Value Equity EQ/ClearBridge Select EquityManaged Volatility EQ/Common Stock Index EQ/Equity 500 Index EQ/Fidelity Institutional AM Large Cap EQ/Franklin Small Cap ValueManaged Volatility EQ/Goldman Sachs Mid Cap Value EQ/Invesco Comstock EQ/Janus Enterprise EQ/JPMorgan Value Opportunities EQ/Large Cap Core ManagedVolatility EQ/Large Cap Growth Index EQ/Large Cap Growth ManagedVolatility EQ/Large Cap Value Index EQ/Large Cap Value ManagedVolatility EQ/MFS Mid Cap Focused Growth EQ/MFS Technology EQ/MFS Utilities EQ/Mid Cap Index EQ/Mid Cap Value ManagedVolatility EQ/Small Company Index EQ/T. Rowe Price Growth Stock EQ/Wellington Energy Fidelity VIP Equity Income Fidelity VIP Mid Cap Invesco Oppenheimer V.I. MainStreet Invesco V.I. Diversified Dividend Invesco V.I. Mid Cap Core Equity Invesco V.I. Small Cap Equity Ivy VIP Small Cap Growth MFS Investors Trust MFS Massachusetts InvestorsGrowth Stock PIMCO CommodityRealReturn Strategy VanEck VIP Global Hard AssetsInternational/Global 1290 VT SmartBeta Equity(2) EQ/Emerging Markets Equity PLUS EQ/Global Equity ManagedVolatility EQ/International Core ManagedVolatility EQ/International Equity Index EQ/International Managed Volatility EQ/International Value ManagedVolatilityEQ/Invesco Global(1)EQ/Invesco Global Real EstateEQ/Invesco International GrowthEQ/Lazard Emerging MarketsEquity EQ/MFS International Growth EQ/MFS International IntrinsicValue(1) Asset Allocation 1290 VT DoubleLine DynamicAllocation EQ/AB Dynamic Moderate Growth* EQ/Aggressive Allocation EQ/Aggressive Growth Strategy(2) EQ/All Asset Growth Allocation(1)(2) EQ/Balanced Strategy* EQ/Conservative Allocation EQ/Conservative Growth Strategy* EQ/Conservative Strategy* EQ/Conservative-Plus Allocation*(2) EQ/Franklin Balanced ManagedVolatility EQ/Moderate Allocation EQ/Moderate Growth Strategy* EQ/Moderate-Plus Allocation Target 2015 Allocation Target 2025 Allocation Target 2035 Allocation Target 2045 Allocation Target 2055 AllocationThese are the only variable investment options available inconnection with the Personal Income Benefit and are collectivelyreferred to as the Personal Income Benefit variable investmentoptions. Please note that they are also available without the PersonalIncome Benefit. For more information, see “What are your investmentoptions under the contract?” under “Contract features and benefits”later in this prospectus.This is the variable investment option’s new name. Please see“Portfolios of the Trusts” later in this prospectus for the variableinvestment option’s former name which may continue to be used incertain documents for a period of time after the date of thisprospectus.This is the surviving variable investment option of a Portfolio merger.Please see “Portfolios of the Trust” later in this prospectus for thename of the acquired variable investment option which may continueto be used in certain documents for a period of time after the date ofthis prospectus.You may allocate amounts to the variable investmentoptions, under your choice of investment method subject toany restrictions. At any time, we have the right to terminateyour contributions. Each variable investment option is asubaccount of Separate Account A. Each variable investmentoption, in turn, invests in a corresponding securities portfolio(“portfolio”) that is part of one of the trusts (the “Trusts”).Your investment results in a variable investment option willThe Securities and Exchange Commission (“SEC”) hasnot approved or disapproved these securities ordetermined if this prospectus is accurate or complete.Any representation to the contrary is a criminal offense.The contracts are not insured by the FDIC or any otheragency. They are not deposits or other obligations ofany bank and are not bank guaranteed. They are subject to investment risks and possible loss of principal.EV Series 201(IF/NB)#835267
depend on the investment performance of the related portfolio. You may also allocate amounts to the guaranteedinterest option and the account for special dollar costaveraging which are discussed later in this prospectus.Amounts allocated in connection with the Personal IncomeBenefit are limited to the Personal Income Benefit variableinvestment options — the EQ/Balanced Strategy, the EQ/Conservative Growth Strategy, the EQ/Conservative Strategy, the EQ/Moderate Growth Strategy and the EQ/ABDynamic Moderate Growth.Types of contracts. We offer the contract as a funding vehiclefor employers’ Internal Revenue Code 403(b) plans andInternal Revenue Code Section 457(b) employee deferredcompensation (“EDC”) plans. Availability of certain featuresand benefits under the contract is subject to the employer’sPlan. We may offer the contract as an individual annuity contract or as an interest under a group annuity contract.Minimum contribution amounts of 20 may be madeunder the contract.A registration statement relating to this offering has been filedwith the SEC. The statement of additional information (“SAI”)dated May 1, 2020, is a part of the registration statement. TheSAI is available free of charge. You may request one by writing to our processing office at P.O. Box 4956, Syracuse, NY13221-4956 or calling (800) 628-6673. The SAI has beenincorporated by this reference into this prospectus. This prospectus and the SAI can also be obtained from the SEC’swebsite at www.sec.gov. The table of contents for the SAIappears at the back of this prospectus.Electronic delivery of shareholder reports (pursuant toRule 30e-3). Beginning on January 1, 2021, as permitted byregulations adopted by the SEC, paper copies of the shareholder reports for portfolio companies available under yourcontract will no longer be sent by mail, unless you specificallyrequest paper copies of the reports from the Company orfrom your financial intermediary. Instead, the reports will bemade available on a website, and you will be notified by maileach time a report is posted and provided with a website linkto access the report.If you already elected to receive shareholder reports electronically, you will not be affected by this change and youneed not take any action. You may elect to receive shareholder reports and other communications electronically fromthe Company by calling (800) 628-6673 or by calling yourfinancial intermediary.You may elect to receive all future reports in paper free ofcharge. You can inform the Company or your financial intermediary that you wish to continue receiving paper copies ofyour shareholder reports by calling (877) 522-5035, by sending an email request to EquitableFunds@dfinsolutions.com orby calling your financial intermediary. Your election to receivereports in paper will apply to all portfolio companies availableunder your contract.
Contents of this ProspectusWhen we address the reader of this prospectus with words such as “you“and “your,“ we mean the person who has the right or responsibility thatthe prospectus is discussing at that point. This is usually the contractowner.Index of key words and phrasesThe CompanyHow to reach usEQUI-VEST (Series 201) contracts for employersponsored retirement plans at a glance — keyfeatures56710Fee table12ExampleCondensed financial information13141. Contract features and benefits15How you can purchase and contribute to yourcontractContract availabilityOwner and annuitant requirementsHow you can make your contributionsWhat are your investment options under the contract?Portfolios of the TrustsSelecting your investment methodERISA considerations for employersAllocating your contributionsPersonal Income BenefitDeath benefitYour right to cancel within a certain number of days1516161617182829293138382. Determining your contract’s value40Your account value and cash valueYour contract’s value in the variable investmentoptionsYour contract’s value in the guaranteed interest optionand account for special dollar cost averagingInsufficient account value4040403. Transferring your money among investmentoptions41Transferring your account valueDisruptive transfer activityAutomatic transfer optionsInvestment simplifierRebalancing your account valueOptional Semester Strategies program41414343434440When we use the word “contract“ it also includes certificates that areissued under group contracts in some states.3
4. Accessing your money46Withdrawing your account valueHow withdrawals are taken from your account valueLoansTerminationWhen to expect paymentsYour annuity payout options4650505151525. Charges and expenses54Charges that the Company deductsCharges under the contractsCharges that the Trusts deduct5454576. Payment of death benefit58Your beneficiary and payment of benefitHow death benefit payment is madeBeneficiary continuation option5858587. Tax information61Cares ActTax information and ERISA mattersBuying a contract to fund a retirement arrangementSpecial rules for tax-favored retirement programsAdditional “Saver’s Credit” for salary reductioncontributions to certain plansTax-sheltered annuity arrangements (TSAs)Distributions from TSAsPublic and tax-exempt organization employeedeferred compensation plans (EDC Plans)ERISA mattersCertain rules applicable to plans designed tocomply with Section 404(c) of ERISATax withholding and information reportingFederal income tax withholding on periodic annuitypaymentsFederal income tax withholding on non-periodicannuity payments (withdrawals) which are noteligible rollover distributionsMandatory withholding from eligible rolloverdistributionsImpact of taxes to the Company61616161Financial statementsTransfers of ownership, collateral assignments,loans, and borrowingFunding changesDistribution of the contracts78787878AppendixI —State contract availability and/orvariations of certain features andbenefitsII — Condensed financial informationStatement of additional informationTable of contents62626468737373747474748. More information75About our Separate Account AAbout the TrustsAbout the general accountAbout other methods of paymentDates and prices at which contract events occurAbout your voting rightsCOVID-19Cybersecurity risks and catastrophic eventsStatutory complianceAbout legal proceedings757575767676777778784I-1II-1
Index of key words and phrasesThis index should help you locate more information on the terms used in this prospectus.Pageaccount valueaccount for special dollar cost averagingannuitantannuity payout optionsbeneficiaryBeneficiary continuation optionbusiness daycash valuecontract datecontract date anniversarycontract yearcontributionsdisruptive transfer activityDOLEDCERISAelective deferral contributionsEquitable Access AccountGuaranteed Annual Withdrawal Amountguaranteed interest optionGuaranteed Transfer Withdrawal RateGuaranteed Withdrawal Ratehardship withdrawalsinvestment optionsPage40281652585817, 7640151515154129229625832283232641market timingmaturity dateNon-Personal Income Benefit investment optionsOnline Account Accesspartial withdrawalsPersonal Income BenefitPersonal Income Benefit account valuePersonal Income Benefit chargePersonal Income Benefit variable investment optionsportfolioprocessing officeRatchet BaseRequired Beginning DateSAISECsalary reduction contributionsspecial dollar cost averagingTOPSTSATrustsunforeseeable emergency withdrawalsunitunit investment trustvariable investment options8, 41523074710, 3130, 4056301733712162307621, 754940751, 17To make this prospectus easier to read, we sometimes use different words than in the contract or supplemental materials. Thisis illustrated below. Although we do use different words, they have the same meaning in this prospectus as in the contract orsupplemental materials. Your financial professional can provide further explanation about your contract.ProspectusContract or Supplemental Materialsaccount valueAnnuity account valueguaranteed interest optionGuaranteed Interest AccountPersonal Income Benefit account value Personal Income Benefit Annuity account valueunitAccumulation unitunit valueAccumulation unit value5
The CompanyWe are Equitable Financial Life Insurance Company, a NewYork stock life insurance corporation. We have been doingbusiness since 1859. The Company is an indirect whollyowned subsidiary of Equitable Holdings, Inc. No othercompany has any legal responsibility to pay amounts thatthe Company owes under the contracts. The Company issolely responsible for paying all amounts owed to you underyour contract.Equitable Holdings, Inc. and its consolidated subsidiariesmanaged approximately 734.4 billion in assets as ofDecember 31, 2019. For more than 160 years the Companyhas been among the largest insurance companies in theUnited States. We are licensed to sell life insurance andannuities in all fifty states, the District of Columbia, PuertoRico, and the U.S. Virgin Islands. Our home office is locatedat 1290 Avenue of the Americas, New York, NY 10104.6
How to reach usrequest from you, we mean the day on which that item (orthe last thing necessary for us to process that item) arrives incomplete and proper form at our processing office or via theappropriate telephone or fax number if the item is a type weaccept by those means. There are two main exceptions: if theitem arrives (1) on a day that is not a business day, or (2) afterthe close of a business day, then, in each case, we aredeemed to have received that item on the next business day.Our processing office is: 100 Madison Street, Suite 1000, Syracuse, New York 13202.Please communicate with us at the mailing addresses listedbelow for the purposes described. You can also use ourOnline Account Access system to access information aboutyour account and to complete certain requests through theInternet. Certain methods of contacting us, such as by telephone or electronically, may be unavailable or delayed. Forexample, our facsimile service may not be available at all timesand/or we may be unavailable due to emergency closing. Inaddition, the level and type of service available may berestricted based on criteria establ
EQUI-VEST is a deferred annuity contract issued by Equitable Financial Life Insurance Company (the “Company”, “we”, “our” and “us”), formerly AXA Equitable Life Insurance Com-pany. It provides for the accumulation of retirement savings and . This is the v
