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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 4/26/24 Minnesota Life Individual V… Acct 485BPOS 5/01/24 26:7.7M Donnelley … Solutions/FA → Minnesota Life Individual Variable Universal Life Account ⇒ Variable Universal Life Survivor – SVUL |
Document/Exhibit Description Pages Size 1: 485BPOS Post-Effective Amendment of a Form N-1 or N-1A HTML 2.43M Registration 3: EX-99.30(D)(4) Miscellaneous Exhibit HTML 296K 4: EX-99.30(E)(21) Miscellaneous Exhibit HTML 11K 5: EX-99.30(E)(22) Miscellaneous Exhibit HTML 90K 6: EX-99.30(E)(23) Miscellaneous Exhibit HTML 94K 7: EX-99.30(E)(24) Miscellaneous Exhibit HTML 64K 8: EX-99.30(E)(25) Miscellaneous Exhibit HTML 24K 9: EX-99.30(E)(26) Miscellaneous Exhibit HTML 106K 10: EX-99.30(E)(27) Miscellaneous Exhibit HTML 122K 11: EX-99.30(E)(28) Miscellaneous Exhibit HTML 27K 12: EX-99.30(E)(29) Miscellaneous Exhibit HTML 206K 13: EX-99.30(E)(30) Miscellaneous Exhibit HTML 26K 14: EX-99.30(E)(31) Miscellaneous Exhibit HTML 18K 15: EX-99.30(E)(32) Miscellaneous Exhibit HTML 38K 16: EX-99.30(H)(21)(II) Miscellaneous Exhibit HTML 42K 17: EX-99.30(H)(21)(III) Miscellaneous Exhibit HTML 16K 18: EX-99.30(K) Miscellaneous Exhibit HTML 13K 19: EX-99.30(N) Miscellaneous Exhibit HTML 11K 20: EX-99.30(Q) Miscellaneous Exhibit HTML 107K 21: EX-99.30(S) Miscellaneous Exhibit HTML 26K 26: R1 N-6 HTML 1.73M 22: XML IDEA XML File -- Filing Summary XML 14K 25: XML XBRL Instance -- d645944d485bpos_htm XML 1.88M 2: EX-101.SCH XBRL Schema -- securian-20240424 XSD 480K 23: JSON XBRL Instance as JSON Data -- MetaLinks 136± 154K 24: ZIP XBRL Zipped Folder -- 0001193125-24-116156-xbrl Zip 446K
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Fees and Expenses |
Location in Prospectus |
Charges for Early Withdrawals |
If you surrender your Policy during the first ten Policy Years, we will assess a Surrender Charge, which may significantly reduce the Surrender Value. Because Policy Issue Charges can be higher for Policies with greater Face Amounts, the Surrender Charge, both as a dollar amount and as a percentage of the Policy’s Face Amount, may increase for Policies with higher Face Amounts. |
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For example, if you surrender your Policy within the first i 10 Policy Years, you could pay a Surrender Charge of up to $ i 4,487.40
based on a $100,000 Face Amount, representing a charge of i 4.49% of the Policy’s Face Amount. |
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If you have elected the Early Values Agreement, the Surrender Value will not be reduced by the Surrender Charge. |
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No Index Credit will be applied at surrender of the Policy prior to the end of a Segment Term. |
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Transaction Charges |
In addition to Surrender Charges, we may assess certain transaction charges. |
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•If you elect to make a Policy change, we may assess a Policy Change Transaction Charge, which is currently $95 per transaction. | |||
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•if you elect to take a partial surrender, we may assess a Partial Surrender Transaction Charge, which is 2% of the surrendered amount (not to exceed $25). |
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•if you transfer Accumulation Value among the Sub-Accounts, the Guaranteed Interest Account and the Fixed Indexed Accounts, we may assess a Transfer Transaction Charge, which will not exceed $200 (we currently do not assess this charge). |
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•if you request more than one Illustrative Report in one year, we may assess an Illustrative Report Charge, which will not exceed $250 per Illustrative Report (we currently do not assess this charge). |
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•if you purchase and elect to exercise the Overloan Protection Agreement, we may assess a charge of up to 10% of the Policy’s Accumulation Value (we currently assess a charge equal to 5% of the Policy’s Accumulation Value). |
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Ongoing Fees and Expenses (annual charges) |
In addition to Surrender Charges and transaction charges, the Policy is subject to certain ongoing charges and expenses, including the Premium Charge, the Monthly Policy Charge, the Policy Issue Charge, the Cost of Insurance Charge, a Mortality and Expense Risk Charge, an Indexed Account Charge, an Index Segment Charge, a Cash Extra Charge. and charges for any Agreements you elect. These charges and fees are based on the characteristics of the insureds, including each insured’s Age, gender, Risk Class and the Face Amount. |
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You should refer to your Policy data pages for rates that are applicable to your Policy. |
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Fees and Expenses |
Location in Prospectus |
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The table below describes the total annual portfolio operating expenses (expenses that are deducted from Portfolio assets include management fees, distribution or service (12b-1) fees, and other expenses) that you will pay while you own the Policy. |
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The table shows the minimum and maximum expenses (as a percentage of Portfolio assets) charged by any of the Portfolios for the fiscal year ended December 31, 2023. More details concerning each Portfolio’s fees and expenses are contained in Appendix A. |
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Annual Fee Portfolio Operating Expenses |
Minimum i 0.13% |
Maximum i 1.84% |
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Risks |
Location in Prospectus |
Risk of Loss |
i You have the risk that you can lose money by investing in the Policy. |
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Not a Short-Term Investment |
i The Policy is not a short-term investment and may not be appropriate for Policy Owners who need ready access to cash. The Policy combines both life insurance protection and the potential for the accumulation of cash values; however, it contains costs, such as cost of insurance, surrender charges, and other expenses that, in the short
term, may reduce the amount of Accumulation Value available to the Policy Owner. |
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Risks Associated with Investment Options |
i The Policy Accumulation Value, to the extent invested in a Sub-Account, is subject to the risk of poor investment performance and can vary with the positive or negative investment experience of the corresponding Portfolio. Each investment option, including any of the Variable Account Sub-Accounts, the Guaranteed Interest Account, or the
Fixed Indexed Accounts, will each have its own unique risks. The Policy Owner should review these investment options before making an investment in the Policy. |
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Insurance Company Risks |
i Guarantees provided by Minnesota Life as to the benefits promised in the Policy, such as payment of the Death Benefit and the Minnesota Life General Account investment options, are subject to the claims paying ability of Minnesota Life and are subject to the risk that Minnesota Life may default on its obligations under those guarantees.
The Guaranteed Interest Account, the Fixed Indexed Accounts and the Fixed Loan Account are part of our General Account. Our General Account consists of all assets owned by us other than those in the Variable Account and any other separate accounts which we may establish. Investors look to the financial strength of Minnesota Life for its insurance guarantees. Information about Minnesota Life, and its financial strength ratings, are available upon request. You may call us at 1-844-208-2412 for additional
information or visit our website at www.securian.com/about- us/ratings. |
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Risks |
Location in Prospectus |
Contract Lapse |
i There is the risk that the Policy may terminate. The Policy will terminate if it is in default unless sufficient premium payments are made or it remains in force under the Overloan Protection Agreement or the No Lapse Guarantee Agreement (if selected). If your Policy terminates, no Death Benefit will be paid upon the second death and all the
Agreements added to the Policy will also terminate. Poor investment performance, insufficient premium payments, withdrawals, and loans are some of the factors that could cause your Policy to lapse. As described in the “Termination” and “Reinstatement” sections of this prospectus, Termination will only occur when the Accumulation Value under the Policy, less the sum of any outstanding policy loans and unpaid Policy Loan Interest, is insufficient to cover the monthly charges, and the subsequent Grace Period expires without sufficient payment
being made to keep the Policy in force. You may reinstate a terminated Policy, subject to certain conditions, which include, providing evidence of insurability satisfactory to us and payment of premiums or repayment of Policy loans. Policy loans may increase the risk that the Policy will terminate. If a Policy terminates with an outstanding Policy loan, there may be significant adverse tax consequences to the Owner. |
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Restrictions |
Location in Prospectus |
Investments |
i •Accumulation Value in the Fixed Indexed Account Segments are subject to the Policy’s transfer restrictions, which may limit transfers out of the Fixed Indexed Accounts to the end of a Segment Term, or which would lead to no Index Credit being applied. •We reserve the right
to limit transfers to and from the Guaranteed Interest Account to one transfer per Policy Year. We also reserve the right to restrict the dollar amount of any transfer to or from the Guaranteed Interest Account. •We reserve the right to require that the amount transferred to or from a Sub-Account, Fixed Indexed Account Segments, or the Guaranteed Interest Account be at least $250. •We reserve the right to remove a Sub-Account or substitute another mutual fund or Portfolio for a Sub-Account. •When
the No Lapse Guarantee Agreement is in effect: (i) any Net Premiums allocated to any variable Sub-Account may be limited to the maximum variable Sub-Account percentage and (ii) no requested transfer or systematic transfer may be allocated to a variable Sub-Account where the percentage of the total accumulation value in the Sub-Account prior to the requested transfer or systematic transfer exceeds the maximum variable Sub-Account percentage. |
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Optional Benefits |
i Any Agreements you elect may alter the benefits or charges in your Policy. Agreement availability and benefits may vary by state of issue or selling broker-dealer and their election may have tax consequences. Agreements may have restrictions or limitations, and we may modify or terminate an Agreement, as allowed.
If you elect a particular Agreement, it may restrict or enhance the terms of your Policy, or restrict the availability or terms of other Agreements or Policy features. |
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Taxes |
Location in Prospectus |
Tax Implications |
i You should consult with a tax professional to determine the tax implications of an investment in and payments received under the Policy. Full and Partial Surrenders could be subject to ordinary income tax, and, if your Policy is a MEC, partial surrenders and loans could be subject to tax penalties. |
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Conflicts of Interest |
Location in Prospectus |
Investment Professional Compensation |
i We pay broker-dealers that sell our Policies a commission that is based upon the premium you pay for the Policy. The broker-dealers, in turn, pay their registered representatives all or a portion of that commission for the sale. We may also pay broker-dealers additional amounts in the form of revenue sharing
and marketing allowances for the sale of our Policies. These broker-dealers and their registered representatives may have a financial incentive to offer or recommend the Policy over another investment. |
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Exchanges |
i Some registered representatives may have a financial incentive to offer you a new Policy in place of the one you may already own. You should only exchange your existing policy if you determine, after comparing the features, fees, and risks of both policies, that it is preferable for you to purchase the new policy rather than continue your existing
Policy. |
Agreement |
Available post issue of the Policy |
Early Values Agreement |
Not available |
Estate Preservation Agreement |
Not available |
No Lapse Guarantee Agreement |
Not available |
Agreement |
Available post issue of the Policy |
Overloan Protection Agreement |
Not available |
Policy Split Agreement* |
Available |
Premium Deposit Account Agreement* |
Available |
Term Insurance Agreement |
Not available |
Charge |
When Charge is Deducted |
Amount Deducted | |
Guaranteed Charge |
Current Charge | ||
i Premium Charge(1) |
i Upon premium payment, expressed as a percentage of premium payment |
i 10 percent |
5.5 percent |
i Transfer Transaction Charge |
i Upon transfer of Accumulation Value among the Sub-Accounts, the Guaranteed Interest Account and the Fixed Indexed Accounts |
$ i 200 |
$ i 0 |
i Policy Change Transaction Charge |
i Upon change in Face Amount, Death Benefit option, or Risk Class |
$ i 200 |
$ i 95 |
i Surrender Charge(2)(3) |
i When you surrender your Policy during the first 10 Policy Years, expressed as an amount of Face Amount |
$15.46 per $1,000 - $ i 45.06 per $1,000 |
$ i 15.46 per $1,000 - $ i 45.06
per $1,000 |
Charge for Representative Insureds, Male and Female, Both Age 55, Preferred Select Risk Class, with Level Option Death Benefit in Policy Year 1 |
When you surrender your Policy during the first 10 Policy Years, expressed as an amount of Face Amount |
$31.56 per $1,000 |
$31.56 per $1,000 |
Charge |
When Charge is Deducted |
Amount Deducted | |
Guaranteed Charge |
Current Charge | ||
i Partial Surrender Transaction Charge |
i Upon partial surrender, expressed as a percentage of amount surrendered |
i 2 percent, not to exceed $ i 25 |
i 2 percent, not to exceed $ i 25 |
i Illustrative Report Charge(4) |
i When an additional Illustrative Report is requested |
$ i 250 per Illustrative Report |
$ i 0 per Illustrative Report |
i Overloan Protection Agreement |
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Maximum Charge |
i Upon exercise of Agreement, expressed as a percentage of Policy Accumulation Value upon exercise of Agreement |
i 10 percent |
i 5 percent |
Charge |
When Charge is Deducted |
Amount Deducted | |
Guaranteed Charge |
Current Charge | ||
i Monthly Policy Charge |
i Monthly, expressed as an amount of Face Amount |
$ i 30 plus $ i 0.0125 per $1,000 |
$ i 20 |
i Policy Issue Charge(1) |
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Maximum Charge(2) |
Monthly, within the first ten Policy Years, expressed as an amount of Face Amount |
$ i 1.44 per $1,000 |
$ i 1.44 per $1,000 |
Minimum Charge(3) |
Monthly, within the first ten Policy Years, expressed as an amount of Face Amount |
$ i 0.18 per $1,000 |
$ i 0.18per $1,000 |
Charge |
When Charge is Deducted |
Amount Deducted | |
Guaranteed Charge |
Current Charge |
Charge for Representative Insureds, Male and Female, Both Age 55, Preferred Select Risk Class, with Level Option Death Benefit, $2,000,000 Face Amount |
Monthly, within the first ten Policy Years, expressed as an amount of Face Amount |
$0.29 per $1,000 |
$0.29 per $1,000 |
i Cost of Insurance Charge(4) |
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Maximum Charge |
i Monthly, expressed as an amount of Net Amount at Risk |
$ i 83.33 per $1,000 |
$ i 83.33 per $1,000 |
Minimum Charge |
Monthly, expressed as an amount of Net Amount at Risk |
$0.00002 per $1,000 |
$ i 0.00001 per $1,000 |
Charge for Representative Insureds, Male and Female, Both Age 55, Preferred Select Risk Class, with Level Option Death Benefit in Policy Year 1 |
Monthly, expressed as an amount of Net Amount at Risk |
$0.00215 per $1,000 |
$0.00027 per $1,000 |
i Mortality and Expense Risk Charge |
i Monthly, expressed as a percentage of the Policy Accumulation Value |
0.96 percent annually( i 0.08 percent monthly) |
0.30 percent annually through Policy Year 15( i 0.025 percent monthly through Policy Year 15) |
i Cash Extra Charge(5) |
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Maximum Charge |
Monthly |
$ i 200 per $1,000 |
$ i 200 per $1,000 |
Minimum Charge |
Monthly |
$ i 0 |
$ i 0 |
Charge for Representative Insureds, Male and Female, Both Age 50, Standard Non-Tobacco Risk Class |
Monthly |
$0.01 per $1,000 |
$0.01 per $1,000 |
i Net Fixed Interest Rate Policy Loan Interest Charge (6) |
i Annually, on each Policy Anniversary, and upon a policy loan transaction, full surrender, policy Termination or upon the second death, expressed as a percentage of interest
on outstanding policy fixed rate loan balance |
For policies in force less than ten years, 1.0 percent annual rate |
For policies in force less than ten years, 1.0 percent annual rate. For policies in force more than ten years, i 0.10 percent
annual rate |
Charge |
When Charge is Deducted |
Amount Deducted | |
Guaranteed Charge |
Current Charge | ||
i Variable Rate Policy Loan Interest Charge |
i Annually, on each Policy Anniversary, and upon a policy loan transaction, full surrender, policy Termination or upon the second death, expressed as a percentage of interest on outstanding
policy variable rate loan balance |
The greater of: (1) the published monthly average (Moody’s Corporate Bond Yield Average- Monthly Average Corporates) as published by Moody’s Investors Service, Inc. or its successor for the calendar month ending two months prior to the date the rate of interest for the policy loan is determined,
and (2) the guaranteed interest rate for the Guaranteed Interest Account plus one ( i 1) percent per annum. |
4.5 percent |
Charge for Agreement(1) |
When Charge is Deducted |
Amount Deducted | |
Guaranteed Charge* |
Current Charge | ||
i Term Insurance Agreement |
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Maximum Charge(1) |
i Monthly, expressed as an amount of Agreement coverage |
$ i 36.18 per $1,000 |
$ i 25.98 per $1,000 |
Minimum Charge(2) |
Monthly, expressed as an amount of Agreement coverage |
$0.00002 per $1,000 |
$0.00001 per $1,000 |
Charge for Agreement(1) |
When Charge is Deducted |
Amount Deducted | |
Guaranteed Charge* |
Current Charge |
Charge for Representative Insureds, Male and Female, Both Age 55, Preferred Select Risk Class, with Level Option Death Benefit(3) |
Monthly, expressed as an amount of Agreement coverage |
$0.00215 per $1,000 |
$0.00028 per $1,000 |
i No Lapse Guarantee Agreement |
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Maximum Charge(4) |
i Monthly, expressed as an amount of Face Amount |
$ i 0.25 per $1,000 |
$ i 0.25 per $1,000 |
Minimum Charge(5) |
Monthly, expressed as an amount of Face Amount |
$ i 0.05 per $1,000 |
$0.05 per $1,000 |
Charge for Representative Insureds, Male and Female, Both Age 55, Preferred Select Risk Class, with Level Option Death Benefit |
Monthly, expressed as an amount of Face Amount |
$0.10 per $1,000 |
$0.10 per $1,000 |
i Early Values Agreement(6) |
i Monthly, expressed as a percentage of Accumulation Value less any Policy loans |
0.60 percent annually ( i 0.05percent monthly) |
0.48 percent annually ( i 0.04percent monthly) |
Charge |
Minimum |
Maximum |
i Total Annual Portfolio Operating Expenses (expenses that are deducted from Portfolio assets include management fees, distribution or service (12b-1) fees, and other expenses) |
i 0.13% |
i 1.84% |
State |
Rider or Feature |
Availability or Variation |
Florida |
Restrictions on Transfers to and from General Account |
Our ability to restrict transfers to and from our General Account for Policies issued in Florida include: (1) we may restrict up to 20% of your allocation of premium to the General Account options; (2) we may restrict the dollar amount of any transfer to the Guaranteed Interest Account or to the Fixed Indexed Accounts to be no more than 20% of your Accumulation Value; and (3) we may restrict the amount of any fixed interest rate loan repayment allocated to the Guaranteed Interest Account or to the Fixed Indexed Accounts to be no more than 20%
of your outstanding loan balance. |
Growth Caps |
Indexed segment created or resulting from a transfer from a prior segment in: |
Indexed Account A |
Indexed Account B |
Indexed Account G |
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[November 16, 2022 and later] |
6.50% |
4.25% |
No Limit |
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Participation Rates |
Participation rate for indexed segments created or resulting from a transfer from a prior segment in: |
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[November 16, 2022 and later] |
100% |
140% |
50% | |
Guaranteed participation rate |
100% |
140% |
10% |
(1,050 - 1,000) |
= |
5.00% |
1,000 |
5.00% × $10,000 |
= |
$500 |
(1,200 - 1,000) |
= |
20.00% |
1,000 |
9.00%× $10,000 |
= |
$900 |
(700 - 1,000) |
= |
-30.00% |
1,000 |
(1,050 - 1,000) |
= |
5.00% |
1,000 |
7.00% × $10,000 |
= |
$700 |
(1,200 - 1,000) |
= |
20.00% |
1,000 |
8.40% × $10,000 |
= |
$840 |
(700 - 1,000) |
= |
-30.00% |
1,000 |
(1,050 - 1,000) |
= |
5.00% |
1,000 |
4.25% × $10,000 |
= |
$425 |
(700 - 1,000) |
= |
-30.00% |
1,000 |
Year |
Fixed Indexed Account Information |
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Participation Rate: Growth Cap |
100% 9% |
(assumed constant over 5 year period) |
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Annual Increase in External Index |
Growth Cap |
Segment Growth Rate |
Accumulation Value Before Index Credit |
Index Credit |
Accumulation Value After Index Credit |
Guaranteed Minimum Accumulation Value (using 2% Interest Credit) |
Greater of Fixed Indexed Account and Guaranteed Minimum Accumulation Value | |
1 |
-10 % |
9 % |
-10.00 % |
880 |
- |
880 |
899 |
899 |
2 |
-15 % |
9 % |
-15.00 % |
1,760 |
- |
1,760 |
1,815 |
1,815 |
3 |
7 % |
9 % |
7.00 % |
2,640 |
185 |
2,825 |
2,750 |
2,825 |
4 |
16 % |
9 % |
9.00 % |
3,705 |
333 |
4,038 |
3,704 |
4,038 |
5 |
20 % |
9 % |
9.00 % |
4,918 |
443 |
5,361 |
4,677 |
5,361 |
Account |
Accumulation Value |
Guaranteed Minimum Accumulation Value |
Guaranteed Interest Account |
$0 |
$0 |
Fixed Indexed Accounts |
$0 |
$55 |
Total |
$0 |
$55 |
Sub-Account |
Annual Unit Value Credit |
AB Dynamic Asset Allocation Portfolio – Class B Shares |
0.08 |
AB International Value Portfolio – Class A Shares |
0.00 |
American Century VP Disciplined Core Value Fund – Class I Shares |
0.00 |
American Century VP Inflation Protection Fund – Class I Shares |
0.00 |
American Funds Capital World Bond Fund – Class 1 Shares |
0.00 |
American Funds Global Small Capitalization Fund – Class 1 Shares |
0.00 |
American Funds Growth Fund – Class 1 Shares |
0.00 |
American Funds Growth-Income Fund – Class 1 Shares |
0.00 |
American Funds International Fund – Class 1 Shares |
0.00 |
American Funds New World® Fund – Class 1 Shares |
0.00 |
American Funds U.S. Government Securities Fund – Class 1 Shares |
0.00 |
BlackRock International Index V.I. Fund – Class I Shares |
0.02 |
BlackRock Small Cap Index V.I. Fund – Class I Shares |
0.02 |
ClearBridge Variable Small Cap Growth Portfolio – Class I Shares |
0.07 |
Macquarie VIP Asset Strategy Series – Service Class Shares |
0.12 |
Macquarie VIP Core Equity Series – Service Class Shares |
0.12 |
Macquarie VIP Global Growth Series – Service Class Shares |
0.12 |
Macquarie VIP International Core Equity Series – Service Class Shares |
0.12 |
Macquarie VIP Mid Cap Growth Series – Service Class Shares |
0.12 |
Macquarie VIP Pathfinder Moderate – Managed Volatility – Class II Shares |
0.07 |
Macquarie VIP Science and Technology Series – Service Class Shares |
0.12 |
Macquarie VIP Smid Cap Core Series – Service Class Shares |
0.12 |
Fidelity® Bond Index Portfolio – Initial Class Shares |
0.02 |
Fidelity® Equity-Income Portfolio – Initial Class Shares |
0.03 |
Fidelity® Mid Cap Portfolio – Initial Class Shares |
0.03 |
Franklin Small Cap Value VIP Fund – Class 1 Shares |
0.04 |
Invesco Oppenheimer V.I. International Growth Fund – Series I Shares |
0.04 |
Invesco V.I. American Value Fund – Series I Shares |
0.04 |
Invesco V.I. Comstock Fund – Series I Shares |
0.04 |
Invesco V.I. Main Street Small Cap Fund® – Series I Shares |
0.10 |
Janus Henderson Balanced Portfolio – Institutional Shares |
0.00 |
Janus Henderson Flexible Bond Portfolio – Institutional Shares |
0.00 |
Janus Henderson Forty Portfolio – Institutional Shares |
0.00 |
Sub-Account |
Annual Unit Value Credit |
Janus Henderson Mid Cap Value Portfolio – Institutional Shares |
0.00 |
Janus Henderson Overseas Portfolio – Institutional Shares |
0.00 |
MFS® International Intrinsic Value Portfolio – Initial Class |
0.05 |
MFS® Mid Cap Growth Series – Initial Class |
0.05 |
Morgan Stanley VIF Emerging Markets Equity Portfolio – Class II Shares |
0.13 |
Morningstar Aggressive Growth ETF Asset Allocation Portfolio – Class I Shares |
0.06 |
Morningstar Balanced ETF Asset Allocation Portfolio – Class I Shares |
0.06 |
Morningstar Conservative ETF Asset Allocation Portfolio – Class I Shares |
0.06 |
Morningstar Growth ETF Asset Allocation Portfolio – Class I Shares |
0.06 |
Morningstar Income and Growth ETF Asset Allocation Portfolio – Class I Shares |
0.06 |
Neuberger Berman AMT Sustainable Equity Portfolio – I Class Shares |
0.00 |
PIMCO VIT Global Diversified Allocation Portfolio – Advisor Class Shares |
0.05 |
PIMCO VIT International Bond Portfolio (U.S. Dollar-Hedged) – Advisor Class Shares |
0.00 |
PIMCO VIT Low Duration Portfolio – Institutional Class Shares |
0.00 |
PIMCO VIT Total Return Portfolio – Institutional Class Shares |
0.00 |
Putnam VT International Equity Fund – Class IA Shares |
0.00 |
Putnam VT International Value Fund – Class IA Shares |
0.00 |
Putnam VT Large Cap Growth Fund – Class IA Shares |
0.00 |
Putnam VT Large Cap Value Fund – Class IA Shares |
0.00 |
SFT Balanced Stabilization Fund |
0.07 |
SFT Core Bond Fund – Class 1 Shares |
0.02 |
SFT Delaware IvySM Growth Fund |
0.12 |
SFT Delaware IvySM Small Cap Growth Fund |
0.12 |
SFT Equity Stabilization Fund |
0.07 |
SFT Government Money Market Fund |
0.07 |
SFT Index 400 Mid-Cap Fund – Class 1 Shares |
0.02 |
SFT Index 500 Fund – Class 1 Shares |
0.03 |
SFT T. Rowe Price Value Fund |
0.12 |
SFT Wellington Core Equity Fund – Class 1 Shares |
0.06 |
TOPS® Managed Risk Flex ETF Portfolio |
0.07 |
T. Rowe Price Health Sciences Portfolio – II Class |
0.00 |
Vanguard® Balanced Portfolio |
0.00 |
Vanguard® Capital Growth Portfolio |
0.00 |
Vanguard® Diversified Value Portfolio |
0.00 |
Vanguard® Equity Income Portfolio |
0.00 |
Vanguard® High Yield Bond Portfolio |
0.00 |
Vanguard® International Portfolio |
0.00 |
Vanguard® Short-Term Investment-Grade Portfolio |
0.00 |
Sub-Account |
Annual Unit Value Credit |
Vanguard® Small Company Growth Portfolio |
0.00 |
Vanguard® Total Bond Market Index Portfolio |
0.00 |
Vanguard® Total Stock Market Index Portfolio |
0.00 |
Age |
Limitation Percentage |
40 and under |
250% |
41 to 45 |
250% minus 7% for each year over Age 40 |
46 to 50 |
215% minus 6% for each year over Age 45 |
51 to 55 |
185% minus 7% for each year over Age 50 |
56 to 60 |
150% minus 4% for each year over Age 55 |
61 to 65 |
130% minus 2% for each year over Age 60 |
66 to 70 |
120% minus 1% for each year over Age 65 |
71 to 75 |
115% minus 2% for each year over Age 70 |
76 to 90 |
105% |
91 to 95 |
105% minus 1% for each year over Age 90 |
96 to 121 |
100% |
i Name of Benefit |
i Purpose |
i Is Benefit Standard or Optional |
i Brief Description of Restrictions/Limitations |
i Term Insurance Agreement |
i Provides additional one-year level term insurance payable at the second death. |
i Optional |
i •Subject to the insureds providing evidence of insurability •Agreement only available at Policy issue |
i Overloan Protection Agreement |
i Provides protection against Policy Termination in the event Policy Charges exceed the Policy Accumulation Value |
i Optional |
i •Policy Owner must elect the Guideline Premium Test •Agreement only available at Policy issue |
i Early Values Agreement |
i Waives the Surrender Charge that would ordinarily apply to the Policy of the Policy without providing evidence of the insureds’ insurability |
i Optional |
i •Not available with the No Lapse Guarantee Agreement •Agreement only available at Policy issue |
i Premium Deposit Account Agreement |
i Provides the Policy Owner with an option to deposit funds into an account to ensure that planned Premium payments are made on the Policy Anniversary |
i Optional |
i May only have one Premium Deposit Account per Policy |
i Estate Preservation Agreement |
i Guarantees the Policy Owner the right to purchase additional amounts of term insurance on the surviving insured’s life without providing evidence of insurability |
i Optional |
i •If both insureds die simultaneously, the Agreement does not pay a benefit •Agreement only available at Policy issue |
Name of Benefit |
Purpose |
Is Benefit Standard or Optional |
Brief Description of Restrictions/Limitations |
i Policy Split Agreement |
i Provides for the split of the Policy into two policies of single life flexible premium universal life insurance without providing evidence of the insureds’ insurability |
i Optional |
i Only exercisable if: (1) both insureds are under Age 75 and living on the effective date of issue of the new policies; (2) neither insured is in an uninsurable risk class; and (3) the request
is made within six months of: (i) the amendment of the Code to eliminate the unlimited federal estate tax marital deduction with respect to the insureds; (ii) the amendment to the Code to reduce the maximum estate tax rate by 50% or more; the amendment to the Code to reduce the maximum estate tax exemption
amount by 50% or more; or the insureds’ final decree of divorce. |
i No Lapse Guarantee Agreement |
i Provides the Policy will remain in force even if the Accumulation Value is not sufficient to cover monthly charges when due as long as the NLGA value (as defined in the Agreement) is sufficient to
cover any charges against the NLGA value and the sum of any outstanding policy loans and any unpaid policy loan interest does not exceed the Accumulation Value |
i Optional |
i •The percentage of any Net Premiums allocated to any variable Sub-Account may be limited to the maximum variable Sub-Account percentage •Agreement
only available at Policy issue |
Other Policy Features |
|
|
|
i Dollar Cost Averaging |
i Allows for allocation of money from the General Account to sub-accounts evenly over a period of time |
i Optional |
i Dollar cost averaging transfers will only take place on the Interim Account Transfer Date |
Name of Benefit |
Purpose |
Is Benefit Standard or Optional |
Brief Description of Restrictions/Limitations |
i Rebalancing |
i Automatically reallocates money among each of the chosen Sub-Accounts and/or the Guaranteed Interest Account on set dates throughout the year |
i Optional |
i Rebalancing is subject to our limitations on market-timing and frequent trading activities and Portfolio limitations on the frequent purchase and redemption of shares |
i Systematic Transfers |
i Automatically transfers money from one Sub-Account and/or the Guaranteed Interest Account to one or more other Sub-Accounts, one or more Fixed Indexed Accounts and/or the Guaranteed
Interest Account on specified dates |
i Optional |
i Systematic transfers are subject to our limitations on market-timing and frequent trading activities and Portfolio limitations on the frequent purchase and redemption of shares |
Annual Premium Payment Year |
Annual Premium to be Paid |
Amount Withdrawn from PDA |
Taxable Interest Earned |
2 |
$10,000.00 |
$9,732.36 |
$267.64 |
3 |
$10,000.00 |
$9,471.88 |
$528.12 |
4 |
$10,000.00 |
$9,218.38 |
$781.62 |
5 |
$10,000.00 |
$8,971.66 |
$1,028.34 |
6 |
$10,000.00 |
$8,731.54 |
$1,268.46 |
7 |
$10,000.00 |
$8,497.85 |
$1,502.15 |
8 |
$10,000.00 |
$8,270.41 |
$1,729.59 |
9 |
$10,000.00 |
$8,049.06 |
$1,950.94 |
10 |
$10,000.00 |
$7,833.64 |
$2,166.36 |
i Investment Objective |
Portfolio Company and Adviser/Subadviser |
Current Expenses1 |
Average Annual Total Returns (as of December 31, 2023) | ||
|
|
|
1 year |
5 year |
10 year |
AB Variable Products Series Fund, Inc. | |||||
i Seeks to maximize total return consistent with the Adviser's determination of reasonable risk. |
i Dynamic Asset Allocation Portfolio – Class B Shares* Investment Adviser: i AllianceBernstein
L.P. |
i 1.10%2 |
i 13.48% |
i 4.03% |
i 3.22% |
i The Portfolio’s investment objective is long-term growth of capital. |
i International Value Portfolio – Class A Shares Investment Adviser: i AllianceBernstein
L.P. |
i 0.90% |
i 15.15% |
i 5.81% |
i 2.09% |
AIM Variable Insurance Funds (Invesco Variable Insurance Funds) | |||||
i Seeks capital appreciation. |
i Invesco Oppenheimer V.I. International Growth Fund – Series I Shares Investment Adviser: i Invesco
Advisers, Inc. |
i 1.00%2 |
i 21.06% |
i 8.72% |
i 3.80% |
i Long-term capital appreciation. |
i Invesco V.I. American Value Fund – Series I Shares Investment Adviser: i Invesco
Advisers, Inc. |
i 0.89% |
i 15.60% |
i 12.74% |
i 7.26% |
i Seeks capital growth and income through investments in equity securities, including common stocks, preferred stocks and securities convertible into common and preferred stocks. |
i Invesco V.I. Comstock Fund – Series I Shares Investment Adviser: i Invesco
Advisers, Inc. |
i 0.75% |
i 12.36% |
i 13.49% |
i 8.92% |
i Seeks capital appreciation. |
i Invesco V.I. Main Street Small Cap Fund® – Series I Shares Investment Adviser: i Invesco
Advisers, Inc. |
i 0.88% |
i 18.13% |
i 13.07% |
i 8.93% |
ALPS Variable Investment Trust (Morningstar) | |||||
i Seeks to provide investors with capital appreciation. |
i Morningstar Aggressive Growth ETF Asset Allocation Portfolio – Class I Shares Investment Adviser: i ALPS
Advisors, Inc. Subadviser: i Morningstar Investment Management LLC |
i 0.64%2 |
i 17.10% |
i 10.32% |
i 7.32% |
Investment Objective |
Portfolio Company and Adviser/Subadviser |
Current Expenses1 |
Average Annual Total Returns (as of December 31, 2023) | ||
|
|
|
1 year |
5 year |
10 year |
i Seeks to provide investors with capital appreciation and some current income. |
i Morningstar Balanced ETF Asset Allocation Portfolio – Class I Shares Investment Adviser: i ALPS
Advisors, Inc. Subadviser: i Morningstar Investment Management LLC |
i 0.62%2 |
i 13.11% |
i 6.95% |
i 5.26% |
i Seeks to provide investors with current income and preservation of capital. |
i Morningstar Conservative ETF Asset Allocation Portfolio – Class I Shares Investment Adviser: i ALPS
Advisors, Inc. Subadviser: i Morningstar Investment Management LLC |
i 0.60%2 |
i 8.19% |
i 2.82% |
i 2.52% |
i Seeks to provide investors with capital appreciation. |
i Morningstar Growth ETF Asset Allocation Portfolio – Class I Shares Investment Adviser: i ALPS
Advisors, Inc. Subadviser: i Morningstar Investment Management LLC |
i 0.63% |
i 15.61% |
i 8.93% |
i 6.48% |
i Seeks to provide investors with current income and capital appreciation. |
i Morningstar Income and Growth ETF Asset Allocation Portfolio – Class I Shares Investment Adviser: i ALPS
Advisors, Inc. Subadviser: i Morningstar Investment Management LLC |
i 0.61%2 |
i 10.99% |
i 5.02% |
i 3.94% |
American Century Variable Portfolios, Inc. | |||||
i The fund seeks capital growth by investing in common stocks. Income is a secondary objective. |
i VP Disciplined Core Value Fund – Class I Shares Investment Adviser: i American
Century Investment Management, Inc. |
i 0.71% |
i 8.65% |
i 10.19% |
i 8.19% |
American Century Variable Portfolios II, Inc. | |||||
i The fund pursues long-term total return using a strategy that seeks to protect against U.S. inflation. |
i VP Inflation Protection Fund – Class I Shares Investment Adviser: i American
Century Investment Management, Inc. |
i 0.52% |
i 3.60% |
i 2.90% |
i 2.16% |
American Funds Insurance Series® | |||||
i The fund’s investment objective is to provide you, over the long term, with a high level of total return consistent with prudent investment management. Total return comprises the income generated by the fund and the changes in the market
value of the fund’s investments. |
i Capital World Bond Fund – Class 1 Shares Investment Adviser: i Capital
Research and Management Company |
i 0.48% |
i 6.39% |
- i 0.07% |
i 0.62% |
i The fund’s investment objective is to provide long-term growth of capital. |
i Global Small Capitalization Fund – Class 1 Shares Investment Adviser: i Capital
Research and Management Company |
i 0.66%2 |
i 16.45% |
i 8.57% |
i 6.04% |
Investment Objective |
Portfolio Company and Adviser/Subadviser |
Current Expenses1 |
Average Annual Total Returns (as of December 31, 2023) | ||
|
|
|
1 year |
5 year |
10 year |
i The fund’s investment objective is to provide growth of capital. |
i Growth Fund – Class 1 Shares Investment Adviser: i Capital Research and Management
Company |
i 0.34% |
i 38.81% |
i 18.97% |
i 14.64% |
i The fund’s investment objectives are to achieve long-term growth of capital and income. |
i Growth-Income Fund – Class 1 Shares Investment Adviser: i Capital
Research and Management Company |
i 0.28% |
i 26.47% |
i 13.65% |
i 11.19% |
i The fund’s investment objective is to provide long-term growth of capital. |
i International Fund – Class 1 Shares Investment Adviser: i Capital Research and
Management Company |
i 0.53% |
i 16.12% |
i 5.10% |
i 3.67% |
i The fund’s investment objective is long-term capital appreciation. |
i New World Fund® – Class 1 Shares Investment Adviser: i Capital Research
and Management Company |
i 0.57%2 |
i 16.22% |
i 8.90% |
i 4.95% |
i The fund’s investment objective is to provide a high level of current income consistent with prudent investment risk and preservation of capital. |
i U.S. Government Securities Fund – Class 1 Shares Investment Adviser: i Capital
Research and Management Company |
i 0.26%2 |
i 3.21% |
i 1.31% |
i 1.78% |
BlackRock Variable Series Funds, Inc. | |||||
i Seeks to match the performance of the MSCI EAFE Index (Europe, Australasia, Far East) (the “MSCI EAFE Index” or the “Underlying Index”) in U.S. dollars with net dividends as closely as possible before the deduction
of Fund expenses. |
i BlackRock International Index V.I. Fund – Class I Shares Investment Adviser: i BlackRock
Advisors, LLC |
i 0.27%2 |
i 18.12% |
i 8.14% |
i 4.16% |
i Seeks to match the performance of the Russell 2000® Index (the “Russell 2000” or the “Underlying Index”) as closely as possible before the deduction of Fund expenses. |
i BlackRock Small Cap Index V.I. Fund – Class I Shares Investment Adviser: i BlackRock
Advisors, LLC |
i 0.22%2 |
i 16.70% |
i 9.83% |
i 6.91% |
Fidelity® Variable Insurance Products Funds | |||||
i Seeks to provide investment results that correspond to the aggregate price and interest performance of the debt securities in the Bloomberg Barclays U.S. Aggregate Bond Index. |
i Bond Index Portfolio – Initial Class Shares Investment Adviser: i Fidelity
Management & Research Company LLC (FMR) Subadviser: i Other investment advisers serve as sub-advisers for the fund. |
i 0.14% |
i 5.47% |
i 0.91% |
i 0.00% |
i Seeks reasonable income and the potential for capital appreciation. The fund’s goal is to achieve a yield which exceeds the composite yield on the securities comprising the Standard & Poor’s 500SM Index (S&P 500®). |
i Equity-Income Portfolio – Initial Class Shares Investment Adviser: i Fidelity
Management & Research Company LLC (FMR) Subadviser: i Other investment advisers serve as sub-advisers for the fund. |
i 0.47% |
i 10.65% |
i 12.30% |
i 8.58% |
Investment Objective |
Portfolio Company and Adviser/Subadviser |
Current Expenses1 |
Average Annual Total Returns (as of December 31, 2023) | ||
|
|
|
1 year |
5 year |
10 year |
i Seeks long-term growth of capital. |
i Mid Cap Portfolio – Initial Class Shares Investment Adviser: i Fidelity
Management & Research Company LLC (FMR) Subadviser: i Other investment advisers serve as sub-advisers for the fund. |
i 0.57% |
i 15.08% |
i 12.45% |
i 8.12% |
Franklin Templeton Variable Insurance Products Trust | |||||
i Seeks long-term total return. |
i Franklin Small Cap Value VIP Fund – Class 1 Shares Investment Adviser: i Franklin
Mutual Advisers, LLC |
i 0.66%2 |
i 13.02% |
i 11.34% |
i 7.31% |
Ivy Variable Insurance Portfolios | |||||
i To seek to provide total return. |
i Delaware Ivy VIP Asset Strategy – Class II Shares Investment Adviser: i Delaware
Management Company Subadviser: i Macquarie Investment Management Austria Kapitalanlage AG, Macquarie Funds Management Hong Kong Limited, Macquarie Investment Management Global Limited, and Macquarie
Investment Management Europe Limited |
i 0.85%2 |
i 13.90% |
i 8.27% |
i 3.48% |
i To seek to provide capital growth and appreciation. |
i Delaware Ivy VIP Core Equity – Class II Shares Investment Adviser: i Delaware
Management Company Subadviser: i Macquarie Funds Management Hong Kong Limited and Macquarie Investment Management Global Limited |
i 0.95%2 |
i 23.51% |
i 15.97% |
i 10.57% |
i To seek to provide growth of capital. |
i Delaware Ivy VIP Global Growth – Class II Shares Investment Adviser: i Delaware
Management Company Subadviser: i Macquarie Funds Management Hong Kong Limited and Macquarie Investment Management Global Limited |
i 1.04%2 |
i 19.90% |
i 12.10% |
i 7.66% |
i To seek to provide capital growth and appreciation. |
i Delaware Ivy VIP International Core Equity – Class II Shares Investment Adviser: i Delaware
Management Company Subadviser: i Macquarie Funds Management Hong Kong Limited and Macquarie Investment Management Global Limited |
i 1.11%2 |
i 15.65% |
i 7.56% |
i 4.00% |
Investment Objective |
Portfolio Company and Adviser/Subadviser |
Current Expenses1 |
Average Annual Total Returns (as of December 31, 2023) | ||
|
|
|
1 year |
5 year |
10 year |
i To seek to provide growth of capital. |
i Delaware Ivy VIP Mid Cap Growth – Class II Shares Investment Adviser: i Delaware
Management Company Subadviser: i Macquarie Funds Management Hong Kong Limited and Macquarie Investment Management Global Limited |
i 1.10%2 |
i 19.59% |
i 14.63% |
i 10.47% |
i To seek to provide growth of capital. |
i Delaware Ivy VIP Science and Technology – Class II Shares Investment Adviser: i Delaware
Management Company Subadviser: i Macquarie Funds Management Hong Kong Limited and Macquarie Investment Management Global Limited |
i 1.15% |
i 39.04% |
i 17.17% |
i 10.87% |
i To seek to provide capital appreciation. |
i Delaware Ivy VIP Smid Cap Core – Class II Shares Investment Adviser: i Delaware
Management Company Subadviser: i Macquarie Funds Management Hong Kong Limited and Macquarie Investment Management Global Limited |
i 1.17% |
i 15.71% |
i 9.63% |
i 7.70% |
i To seek to provide total return consistent with a moderate level of risk as compared to the other Ivy VIP Pathfinder Managed Volatility Portfolios, while seeking to manage volatility of investment return. |
i Delaware Ivy VIP Pathfinder Moderate - Managed Volatility – Class II Shares* Investment Adviser: i Delaware
Management Company Subadviser: i Securian Asset Management, Inc., Macquarie Investment Management Austria Kapitalanlage AG, Macquarie Funds Management Hong Kong Limited, Macquarie
Investment Management Global Limited, and Macquarie Investment Management Europe Limited |
i 1.15%2 |
i 14.10% |
i 7.44% |
i 5.10% |
Janus Aspen Series | |||||
i Seeks long-term capital growth, consistent with preservation of capital and balanced by current income. |
i Janus Henderson Balanced Portfolio – Institutional Shares Investment Adviser: i Janus
Henderson Investors US LLC |
i 0.62% |
i 15.41% |
i 9.64% |
i 7.99% |
i Seeks to obtain maximum total return, consistent with preservation of capital. |
i Janus Henderson Flexible Bond Portfolio – Institutional Shares Investment Adviser: i Janus
Henderson Investors US LLC |
i 0.57%2 |
i 5.50% |
i 1.79% |
i 1.91% |
i Seeks long-term growth of capital. |
i Janus Henderson Forty Portfolio – Institutional Shares Investment Adviser: i Janus
Henderson Investors US LLC |
i 0.55% |
i 39.96% |
i 16.92% |
i 13.73% |
Investment Objective |
Portfolio Company and Adviser/Subadviser |
Current Expenses1 |
Average Annual Total Returns (as of December 31, 2023) | ||
|
|
|
1 year |
5 year |
10 year |
i Seeks capital appreciation. |
i Janus Henderson Mid Cap Value Portfolio – Institutional Shares Investment Adviser: i Janus
Henderson Investors US LLC |
i 0.68%2 |
i 11.40% |
i 10.22% |
i 7.18% |
i Seeks long-term growth of capital. |
i Janus Henderson Overseas Portfolio – Institutional Shares Investment Adviser: i Janus
Henderson Investors US LLC |
i 0.89% |
i 10.87% |
i 11.20% |
i 3.63% |
Legg Mason Partners Variable Equity Trust | |||||
i Seeks long-term growth of capital. |
i ClearBridge Variable Small Cap Growth Portfolio – Class I Shares Investment Adviser: i Legg
Mason Partners Fund Advisor, LLC Subadviser: i ClearBridge Investments, LLC |
i 0.80% |
i 8.40% |
i 9.56% |
i 7.89% |
MFS® Variable Insurance Trust | |||||
i To seek capital appreciation. |
i MFS® Mid Cap Growth Series – Initial Class Investment Adviser: i Massachusetts
Financial Services Company |
i 0.80%2 |
i 21.32% |
i 13.31% |
i 11.12% |
MFS® Variable Insurance Trust II | |||||
i To seek capital appreciation. |
i MFS® International Intrinsic Value Portfolio – Initial Class Investment Adviser: i Massachusetts
Financial Services Company |
i 0.89%2 |
i 17.66% |
i 8.58% |
i 6.92% |
Morgan Stanley Variable Insurance Fund, Inc. | |||||
i Seeks long-term capital appreciation by investing primarily in growth-oriented equity securities of issuers in emerging market countries. |
i Emerging Markets Equity Portfolio – Class II Shares Investment Adviser: i Morgan
Stanley Investment Management Inc. Subadviser: i Morgan Stanley Investment Management Company |
i 1.30%2 |
i 11.96% |
i 3.36% |
i 1.79% |
Neuberger Berman Advisers Management Trust | |||||
i The Fund seeks long-term growth of capital by investing primarily in securities of companies that meet the Fund’s environmental, social and governance (ESG) criteria. |
i Neuberger Berman AMT Sustainable Equity Portfolio – I Class Shares Investment Adviser: i Neuberger
Berman Investment Advisers LLC |
i 0.90% |
i 26.90% |
i 13.97% |
i 9.99% |
Northern Lights Variable Trust (TOPS) | |||||
i Seeks to provide income and capital appreciation with less volatility than the fixed income and equity markets as a whole. |
i TOPS® Managed Risk Flex ETF Portfolio* Investment Adviser: i Valmark
Advisers, Inc. Subadviser: i Milliman Financial Risk Management LLC |
i 0.95% |
i 9.28% |
i 4.71% |
i 2.98% |
Investment Objective |
Portfolio Company and Adviser/Subadviser |
Current Expenses1 |
Average Annual Total Returns (as of December 31, 2023) | ||
|
|
|
1 year |
5 year |
10 year |
PIMCO Variable Insurance Trust | |||||
i Seeks to maximize risk-adjusted total return relative to a blend of 60% MSCI World Index 40% Bloomberg Barclays U.S. Aggregate Index. |
i PIMCO VIT Global Diversified Allocation Portfolio – Advisor Class Shares* Investment Adviser: i Pacific
Investment Management Company LLC (“PIMCO”) |
i 1.31%2 |
i 13.64% |
i 5.40% |
i 4.03% |
i Seeks maximum total return, consistent with preservation of capital and prudent investment management. |
i PIMCO VIT International Bond Portfolio (U.S. Dollar-Hedged) – Advisor Class Shares Investment Adviser: i Pacific
Investment Management Company LLC (“PIMCO”) |
i 1.38% |
i 8.91% |
i 1.54% |
i 0.00% |
i Seeks maximum total return, consistent with preservation of capital and prudent investment management. |
i PIMCO VIT Low Duration Portfolio – Institutional Class Shares Investment Adviser: i Pacific
Investment Management Company LLC (“PIMCO”) |
i 0.54% |
i 5.13% |
i 1.14% |
i 1.07% |
i Seeks maximum total return, consistent with preservation of capital and prudent investment management. |
i PIMCO VIT Total Return Portfolio – Institutional Class Shares Investment Adviser: i Pacific
Investment Management Company LLC (“PIMCO”) |
i 0.60% |
i 6.09% |
i 1.23% |
i 1.86% |
Putnam Variable Trust | |||||
i Seeks capital appreciation. |
i Putnam VT International Equity Fund – Class IA Shares Investment Adviser: i Putnam
Investment Management, LLC |
i 0.85% |
i 18.86% |
i 9.33% |
i 3.96% |
i Seeks capital growth. Current income is a secondary objective. |
i Putnam VT International Value Fund – Class IA Shares Investment Adviser: i Putnam
Investment Management, LLC |
i 0.88% |
i 19.08% |
i 9.96% |
i 4.14% |
i Seeks capital appreciation. |
i Putnam VT Large Cap Growth Fund – Class IA Shares Investment Adviser: i Putnam
Investment Management, LLC |
i 0.65% |
i 44.89% |
i 18.80% |
i 14.68% |
i Seeks capital growth and current income. |
i Putnam VT Large Cap Value Fund – Class IA Shares Investment Adviser: i Putnam
Investment Management, LLC |
i 0.57% |
i 15.92% |
i 14.78% |
i 10.54% |
Securian Funds Trust | |||||
i Seeks to maximize risk-adjusted total return relative to its blended benchmark index comprised of 60% S&P 500 Index and 40% Bloomberg Barclays U.S. Aggregate Bond Index (the Benchmark Index). |
i SFT Balanced Stabilization Fund* Investment Adviser: i Securian Asset Management,
Inc. |
i 0.96% |
i 15.47% |
i 8.88% |
i 7.15% |
Investment Objective |
Portfolio Company and Adviser/Subadviser |
Current Expenses1 |
Average Annual Total Returns (as of December 31, 2023) | ||
|
|
|
1 year |
5 year |
10 year |
i Seeks as high a level of a long-term total rate of return as is consistent with prudent investment risk. The Portfolio also seeks preservation of capital as a secondary objective. |
i SFT Core Bond Fund – Class 1 Shares Investment Adviser: i Metropolitan
West Asset Management, LLC (MetWest) |
i 0.51% |
i 5.98% |
i 1.25% |
i 2.20% |
i Seeks to provide growth of capital. |
i SFT Delaware IvySM Growth Fund Investment Adviser: i Securian Asset
Management, Inc. Subadviser: i Delaware Investments Fund Advisers |
i 0.97% |
i 37.96% |
i 18.49% |
i 0.00% |
i Seeks to provide growth of capital. |
i SFT Delaware IvySM Small Cap Growth Fund Investment Adviser: i Securian
Asset Management, Inc. Subadviser: i Delaware Investments Fund Advisers |
i 1.32% |
i 12.79% |
i 7.76% |
i 0.00% |
i Seeks to maximize risk-adjusted total return relative to its blended benchmark index, comprised of 60% S&P 500 Low Volatility Index, 20% S&P BMI International Developed Low Volatility Index and 20% Bloomberg Barclays U.S. 3 Month Treasury
Bellwether Index (the Benchmark Index). |
i SFT Equity Stabilization Fund* Investment Adviser: i Securian Asset Management,
Inc. |
i 1.07% |
i 7.82% |
i 3.82% |
i 0.00% |
i Seeks maximum current income to the extent consistent with liquidity and the preservation of capital.+ |
i SFT Government Money Market Fund Investment Adviser: i Securian
Asset Management, Inc. |
i 0.65% |
i 4.47% |
i 1.45% |
i 0.85% |
i Seeks investment results generally corresponding to the aggregate price and dividend performance of the publicly traded common stocks that comprise the Standard & Poor’s 400 MidCap Index (the S&P 400). |
i SFT Index 400 Mid-Cap Fund – Class 1 Shares Investment Adviser: i Securian
Asset Management, Inc. |
i 0.31% |
i 15.99% |
i 12.24% |
i 8.94% |
i Seeks investment results that correspond generally to the price and yield performance of the common stocks included in the Standard & Poor’s 500 Composite Stock Price Index (the S&P 500). |
i SFT Index 500 Fund – Class 1 Shares Investment Adviser: i Securian
Asset Management, Inc. |
i 0.19% |
i 26.03% |
i 15.44% |
i 11.79% |
i Seeks above average income and long-term growth of capital. |
i SFT Real Estate Securities Fund – Class 1 Shares Investment Adviser: i Cohen
& Steers |
i 0.97% |
i 12.22% |
i 7.82% |
i 7.71% |
i Seeks to provide long-term capital appreciation by investing in common stocks believed to be undervalued. Income is a secondary objective. |
i SFT T. Rowe Price Value Fund Investment Adviser: i Securian Asset Management, Inc.
Subadviser: i T. Rowe Price Associates, Inc. |
i 1.04% |
i 11.75% |
i 12.09% |
i 0.00% |
Investment Objective |
Portfolio Company and Adviser/Subadviser |
Current Expenses1 |
Average Annual Total Returns (as of December 31, 2023) | ||
|
|
|
1 year |
5 year |
10 year |
i Seeks growth of capital. |
i SFT Wellington Core Equity Fund – Class 1 Shares Investment Adviser: i Securian
Asset Management, Inc. Subadviser: i Wellington Management Company LLP |
i 0.85% |
i 21.03% |
i 13.98% |
i 0.00% |
T. Rowe Price Equity Series, Inc. | |||||
i Seeks long-term capital appreciation. |
i T. Rowe Price Health Sciences Portfolio – II Class Investment Adviser: i T.
Rowe Price Associates, Inc. |
i 1.11% |
i 2.68% |
i 10.96% |
i 11.03% |
Vanguard® Variable Insurance Fund | |||||
i Seeks long-term capital appreciation and reasonable current income. |
i Balanced Portfolio Investment Adviser: i Wellington Management Company LLP
|
i 0.21% |
i 14.33% |
i 9.59% |
i 7.89% |
i Seeks long-term capital appreciation. |
i Capital Growth Portfolio Investment Adviser: i PRIMECAP Management Company
|
i 0.34% |
i 27.98% |
i 14.33% |
i 12.85% |
i Seeks long-term capital appreciation and income. |
i Diversified Value Portfolio Investment Adviser: i Hotchkis and Wiley Capital
Management, LLC and Lazard Asset Management LLC |
i 0.29% |
i 20.13% |
i 14.28% |
i 9.27% |
i Seeks above-average level of current income and reasonable long-term capital appreciation. |
i Equity Income Portfolio Investment Adviser: i Wellington Management Company LLP
|
i 0.29% |
i 8.10% |
i 11.57% |
i 9.53% |
i Seeks high level of current income. |
i High Yield Bond Portfolio Investment Adviser: i Wellington Management Company LLP
|
i 0.24% |
i 11.66% |
i 5.13% |
i 4.34% |
i Seeks long-term capital appreciation. |
i International Portfolio Investment Adviser: i Schroder Investment Management North
America, Inc. and Baillie Gifford Overseas Ltd |
i 0.33% |
i 14.65% |
i 10.28% |
i 6.80% |
i Seeks current income while maintaining limited price volatility. |
i Short-Term Investment-Grade Portfolio Investment Adviser: i The
Vanguard Group, Inc. |
i 0.14% |
i 6.16% |
i 2.13% |
i 1.93% |
i Seeks long-term capital appreciation. |
i Small Company Growth Portfolio Investment Adviser: i ArrowMark Colorado
Holdings, LLC and The Vanguard Group, Inc. |
i 0.29% |
i 19.65% |
i 9.98% |
i 7.85% |
i Seeks to track the performance of a broad, market-weighted bond index. |
i Total Bond Market Index Portfolio Investment Adviser: i The Vanguard Group,
Inc. |
i 0.14% |
i 5.58% |
i 1.04% |
i 1.71% |
i Seeks to track the performance of a benchmark index that measures the investment return of the overall stock market. |
i Total Stock Market Index Portfolio Investment Adviser: i The Vanguard Group,
Inc. |
i 0.13% |
i 25.95% |
i 14.93% |
i 11.29% |
Name and Principal Business Address |
Position and Offices with Minnesota Life |
Second Vice President, Corporate Compliance Officer and Chief Privacy Officer | |
Second Vice President – Affinity Solutions | |
Vice President – Business Services | |
Senior Vice President – Affinity Solutions | |
Second Vice President – Enterprise Business Development | |
Second Vice President – Law | |
Director | |
Second Vice President – Financial Planning and Analysis | |
Second Vice President – Enterprise Consulting and Project Management | |
Second Vice President – CCO Individual Solutions | |
Second Vice President – Institutional Market Technology |
Name and Principal Business Address |
Position and Offices with Minnesota Life |
Executive Advisor and Chief Strategy Officer | |
Vice President – Operations | |
Director | |
Senior Vice President – Risk and Actuarial | |
Second Vice President – Retail Market Technology | |
Senior Vice President – Individual Solutions | |
Benjamin G. S. Fowke III Chairman, President and CEO Xcel Energy, Inc. 414 Nicollet Mall, 401-9 |
Director |
Executive Vice President and Chief Administrative Officer | |
Second Vice President – Law | |
Executive Vice President – Employee Benefit Solutions | |
Sara H. Gavin President, North America Weber Shandwick 510 Marquette Avenue 13F |
Director |
Vice President – Affinity Solutions |
Name and Principal Business Address |
Position and Offices with Minnesota Life |
Director | |
Vice President – Talent Management | |
Senior Vice President – Chief Information Officer | |
Director, Chairman of the Board, President and CEO | |
Director | |
Second Vice President – Voluntary Benefits | |
Second Vice President – Affinity Solutions | |
Second Vice President and Actuary – Business Services | |
Second Vice President and Chief Actuary – CFO Individual Solutions | |
Second Vice President – Chief Information Security Officer | |
Vice President – Technology Infrastructure and Enterprise Solutions | |
Vice President – Distribution and Relationship Management, Group Benefits |
Name and Principal Business Address |
Position and Offices with Minnesota Life |
Second Vice President – Chief Marketing Officer | |
Director, Attorney-in-Fact, Senior Vice President, General Counsel and Secretary | |
Vice President and Actuary – CFO Group Benefits | |
Second Vice President – Treasurer | |
Second Vice President – Total Rewards | |
Second Vice President – Group Benefits | |
Vice President – Retail Life and Annuity Sales | |
Second Vice President and Chief Risk Officer | |
Second Vice President – Life and Annuity Product Development | |
Vice President – Law | |
Second Vice President – Enterprise Strategy | |
Director | |
Chief Product and Revenue Officer |
Name and Principal Business Address |
Position and Offices with Minnesota Life |
Second Vice President – Chief Audit Executive | |
Director | |
Second Vice President – Securian Business Services | |
Vice President – Human Resources | |
Second Vice President and Actuary, Group National Account Underwriting | |
Second Vice President – Business Operations Employee Benefits Solutions | |
Katia O. Walsh Chief Strategy and Artificial Intelligence Officer, Global Leadership Team Levi Strauss & Co. 115 Battery Street |
Director |
Vice President, Controller and Chief Accounting Officer | |
Director, Executive Vice President and CFO |
Name and Principal Business Address |
Positions and Offices with Underwriter |
Chief Executive Officer, President and Director | |
Director | |
Vice President, Chief Financial Officer, Treasurer, FINOP, Principal Operations Officer and Director | |
Vice President, Chief Compliance Officer and Anti-Money Laundering Compliance Officer | |
Secretary | |
Director | |
Director |
Name of Principal Underwriter |
Net Underwriting Discounts and Commissions |
Compensation on Redemption |
Brokerage Commissions |
Other Compensation |
Securian Financial Services, Inc. |
$50,894,179 |
— |
— |
— |
Signature |
Title |
Date |
Chairman of the Board, President and Chief Executive Officer |
||
* Mary K. Brainerd |
Director |
|
* Robert J. Ehren |
Director |
|
* Benjamin G.S. Fowke III |
Director |
|
* Sara H. Gavin |
Director |
|
* Eric B. Goodman |
Director |
Signature |
Title |
Date |
Director |
||
* Trudy A. Rautio |
Director |
|
* Katia O. Walsh |
Director |
|
Director |
||
Executive Vice President and Chief Financial Officer (chief financial officer) |
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Vice President and Controller (chief accounting officer) |
||
Second Vice President and Treasurer (treasurer) |
||
Director, Attorney-in-Fact, Senior Vice President, General Counsel and Secretary |
Exhibit Number |
Description of Exhibit |
30 (a) |
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30 (b) |
Not Applicable. |
30 (c) (1) |
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30 (c) (2) |
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30 (c) (3) |
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30 (d) (1) |
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30 (d) (2) |
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30 (d) (3) |
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30 (d) (4) |
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30 (d) (5) |
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30 (d) (6) |
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30 (d) (7) |
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30 (d) (8) |
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30 (d) (9) |
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30 (d) (10) |
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Exhibit Number |
Description of Exhibit |
30 (e) (1) |
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30 (e) (2) |
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30 (e) (3) |
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30 (e) (4) |
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30 (e) (5) |
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30 (e) (6) |
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30 (e) (7) |
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30 (e) (8) |
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30 (e) (9) |
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30 (e) (10) |
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30 (e) (11) |
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30 (e) (12) |
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30 (e) (13) |
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30 (e) (14) |
Exhibit Number |
Description of Exhibit |
30 (e) (15) |
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30 (e) (16) |
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30 (e) (17) |
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30 (e) (18) |
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30 (e) (19) |
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30 (e) (20) |
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30 (e) (21) |
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30 (e) (22) |
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30 (e) (23) |
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30 (e) (24) |
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30 (e) (25) |
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30 (e) (26) |
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30 (e) (27) |
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30 (e) (28) |
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30 (e) (29) |
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30 (e) (30) |
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30 (e) (31) |
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30 (e) (32) |
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30 (f) (1) |
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30 (f) (2) |
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30 (g) (1) |
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Exhibit Number |
Description of Exhibit |
30 (g) (2) |
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30 (g) (3) |
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30 (g) (4) |
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30 (g) (5) |
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30 (h) (1) (i) |
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30 (h) (1) (ii) |
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30 (h) (2) (i) |
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30 (h) (2) (ii) |
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30 (h) (2) (iii) |
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30 (h) (2) (iv) |
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30 (h) (2) (v) |
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Exhibit Number |
Description of Exhibit |
30 (h) (2) (vi) |
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30 (h) (2) (vii) |
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30 (h) (2) (viii) |
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30 (h) (3) (i) |
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30 (h) (3) (ii) |
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30 (h) (3) (iii) |
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30 (h) (3) (iv) |
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30 (h) (3) (v) |
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30 (h) (3) (vi) |
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30 (h) (4) (i) |
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Exhibit Number |
Description of Exhibit |
30 (h) (4) (ii) |
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30 (h) (4) (iii) |
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30 (h) (4) (iv) |
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30 (h) (4) (v) |
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30 (h) (5) (i) |
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30 (h) (5) (ii) |
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30 (h) (5) (iii) |
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30 (h) (5) (iv) |
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30 (h) (5) (v) |
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30 (h) (5) (vi) |
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Exhibit Number |
Description of Exhibit |
30 (h) (5) (vii) |
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30 (h) (5) (viii) |
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30 (h) (5) (ix) |
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30 (h) (5) (x) |
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30 (h) (5) (xi) |
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30 (h) (5) (xii) |
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30 (h) (5) (xiii) |
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30 (h) (6) (i) |
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30 (h) (6) (ii) |
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30 (h) (6) (iii) |
Exhibit Number |
Description of Exhibit |
30 (h) (6) (iv) |
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30 (h) (6) (v) |
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30 (h) (6) (vi) |
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30 (h) (6) (vii) |
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30 (h) (7) (i) |
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30 (h) (7) (ii) |
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30 (h) (7) (iii) |
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30 (h) (7) (iv) |
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30 (h) (7) (v) |
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30 (h) (7) (vi) |
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30 (h) (7) (vii) |
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Exhibit Number |
Description of Exhibit |
30 (h) (7) (viii) |
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30 (h) (8) (i) |
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30 (h) (8) (ii) |
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30 (h) (8) (iii) |
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30 (h) (8) (iv) |
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30 (h) (8) (v) |
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30 (h) (8) (vi) |
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30 (h) (8) (vii) |
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30 (h) (8) (viii) |
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30 (h) (8) (ix) |
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30 (h) (9) (i) |
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Exhibit Number |
Description of Exhibit |
30 (h) (9) (ii) |
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30 (h) (9) (iii) |
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30 (h) (9) (iv) |
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30 (h) (9) (v) |
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30 (h) (9) (vi) |
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30 (h) (10) (i) |
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30 (h) (10) (ii) |
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30 (h) (10) (iii) |
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30 (h) (10) (iv) |
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30 (h) (10) (v) |
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Exhibit Number |
Description of Exhibit |
30 (h) (11) (i) |
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30 (h) (11) (ii) |
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30 (h) (11) (iii) |
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30 (h) (11) (iv) |
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30 (h) (11) (v) |
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30 (h) (11) (vi) |
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30 (h) (11) (vii) |
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30 (h) (11) (viii) |
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30 (h) (11) (ix) |
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30 (h) (11) (x) |
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30 (h) (11) (xi) |
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Exhibit Number |
Description of Exhibit |
30 (h) (11) (xii) |
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30 (h) (11) (xiii) |
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30 (h) (11) (xiv) |
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30 (h) (12) (i) |
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30 (h) (12) (ii) |
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30 (h) (12) (iii) |
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30 (h) (12) (iv) |
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30 (h) (12) (v) |
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30 (h) (13) (i) |
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30 (h) (13) (ii) |
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30 (h) (13) (iii) |
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Exhibit Number |
Description of Exhibit |
30 (h) (13) (iv) |
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30 (h) (13) (v) |
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30 (h) (13) (vi) |
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30 (h) (13) (vii) |
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30 (h) (13) (viii) |
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30 (h) (13) (ix) |
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30 (h) (13) (x) |
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30 (h) (13) (xi) |
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30 (h) (14) (i) |
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30 (h) (14) (ii) |
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Exhibit Number |
Description of Exhibit |
30 (h) (14) (iii) |
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30 (h) (14) (iv) |
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30 (h) (15) (i) |
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30 (h) (15) (ii) |
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30 (h) (15) (iii) |
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30 (h) (15) (iv) |
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30 (h) (16) (i) |
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30 (h) (17) (i) |
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30 (h) (17) (ii) |
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30 (h) (18) (i) |
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Exhibit Number |
Description of Exhibit |
30 (h) (18) (ii) |
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30 (h) (18) (iii) |
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30 (h) (18) (iv) |
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30 (h) (18) (v) |
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30 (h) (18) (vi) |
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30 (h) (18) (vii) |
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30 (h) (18) (viii) |
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30 (h) (18) (ix) |
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30 (h) (18) (x) |
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30 (h) (18) (xi) |
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30 (h) (18) (xii) |
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30 (h) (19) (i) |
Exhibit Number |
Description of Exhibit |
30 (h) (19) (ii) |
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30 (h) (19) (iii) |
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30 (h) (19) (iv) |
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30 (h) (19) (v) |
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30 (h) (19) (vi) |
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30 (h) (19) (vii) |
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30 (h) (19) (viii) |
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30 (h) (20) (i) |
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30 (h) (20) (ii) |
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30 (h) (20) (iii) |
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30 (h) (21) (i) |
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30 (h) (21) (ii) |
Exhibit Number |
Description of Exhibit |
30 (h) (21) (iii) |
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30 (i) (1) (ii) |
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30 (i) (2) (i) |
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30 (i) (2) (ii) |
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30 (i) (3) |
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30 (j) |
Not Applicable. |
30 (k) |
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30 (l) |
Not Applicable. |
30 (m) |
Not Applicable. |
30 (n) |
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30 (o) |
Not Applicable. |
30 (p) |
Not Applicable. |
30 (q) |
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30 (r) |
Not Applicable. |
30 (s) |
This ‘485BPOS’ Filing | Date | Other Filings | ||
---|---|---|---|---|
12/31/25 | ||||
Effective on: | 5/1/24 | 485BPOS | ||
Filed on: | 4/26/24 | 485BPOS | ||
12/31/23 | 24F-2NT, N-CEN, N-VPFS | |||
8/10/23 | ||||
8/9/23 | ||||
2/15/23 | ||||
12/31/22 | 24F-2NT, N-CEN, N-VPFS | |||
11/16/22 | EFFECT | |||
12/31/17 | 24F-2NT, NSAR-U | |||
6/11/07 | ||||
10/1/98 | ||||
List all Filings |