Registration No. 33-67012811-7934
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-4
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 [X]
Pre-Effective Amendment No. _______ [ ]
Post-Effective Amendment No. ___15__ [X]
and/or
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 [X]
Amendment No. ___16__ [X]
LB VARIABLE ANNUITY ACCOUNT I
(Exact Name of Registrant)
LUTHERAN BROTHERHOOD
(Name of Depositor)
625 Fourth Avenue South, Minneapolis, Minnesota55415
(Address of Depositor's Principal Executive Offices) (Zip Code)
Depositor's Telephone Number, including Area Code: (612) 340-7005
Name and Address of Agent for Service:
John C. Bjork
Lutheran Brotherhood
625 Fourth Avenue South
Minneapolis, Minnesota55415
(Name and Address of Agent for Service)
Approximate Date of the Proposed Public Offering: November 30, 2001, or as soon as practicable after the
effectiveness of the Registration Statement.
It is proposed that this filing will become effective (check appropriate
box):
[ ] immediately upon filing pursuant to paragraph (b) of Rule 485
[X] on November 30, 2001 pursuant to paragraph (b) of Rule 485
[ ] 60 days after filing pursuant to paragraph (a)(1) of Rule 485
[ ] on (date) pursuant to paragraph (a)(1) of Rule 485
[ ] 75 days after filing pursuant to paragraph (a)(2) of Rule 485
[ ] on (date) pursuant to paragraph (a)(3) of Rule 485.
If appropriate, check the following box:
[ ] this post-effective amendment designates a new effective date for a
previously filed post-effective amendment.
Title of Securities Being Registered: Interest in a separate account under individual flexible premium
deferred variable annuity contracts.
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EXPLANATORY NOTE
Registrant is filing this Post-Effective Amendment No. 15 for the purpose of adding seven new variable
subaccounts that will be available under the individual flexible premium variable annuity contract described in
the registration statement. The Amendment is not intended to amend or delete any part of the registration
statement, except as specifically noted herein.
The Prospectus and Statement of Additional Information (including all financial statements therein) are
incorporated in Parts A and B, respectively, of this Post-Effective Amendment No. 15, by reference to
Post-Effective Amendment No. 14 to the registration statement of LB Variable Annuity Account I, file no.
33-67012, filed on April 24, 2001.
The supplement dated November 30, 2001 to the Prospectus dated May 1, 2001 is included in Part A of this
Post-Effective Amendment.
The supplement dated November 30, 2001 to the Statement of Additional Information dated May 1, 2001 is included
in Part B of this Post-Effective Amendment.
Individual Flexible Premium Variable Annuity Contract
Issued by
Lutheran Brotherhood
Supplement Dated November 30, 2001
to Prospectus Dated May 1, 2001
Effective November 30, 2001, seven new Subaccounts are available under LB Variable Annuity Account I (the
"Variable Account"). Accordingly, the following information should be read in conjunction with your Prospectus
dated May 1, 2001, for an individual flexible premium variable annuity contract issued by Lutheran
Brotherhood. Please keep this supplement with your Prospectus for future reference.
1. All current references to the various Subaccounts of the Variable Account and Portfolios of LB Series Fund,
Inc. (the "Fund") are changed to include the following new Subaccounts and their corresponding Portfolios:
Subaccount Corresponding Portfolio
FTI Small Cap Growth Subaccount FTI Small Cap Growth Portfolio
(subadvised by Franklin Advisers, Inc.)
MFS Mid Cap Growth Subaccount MFS Mid Cap Growth Portfolio
(subadvised by Massachusetts Financial
Services Company)
FI All Cap Subaccount FI All Cap Portfolio
(subadvised by Fidelity Management &
Research Company)
MFS Investors Growth Subaccount MFS Investors Growth Portfolio
(subadvised by Massachusetts Financial
Services Company)
TRP Growth Stock Subaccount TRP Growth Stock Portfolio
(subadvised by T. Rowe Price
Associates, Inc.)
Value Subaccount Value Portfolio
Limited Maturity Bond Subaccount Limited Maturity Bond Portfolio
2. The investment objectives of the seven new Portfolios are:
FTI Small Cap Growth Portfolio. To achieve long-term capital growth by investing primarily in a diversified
portfolio of common stocks of U.S. small capitalization companies.
MFS Mid Cap Growth Portfolio. To achieve long-term growth of capital by investing primarily in a
non-diversified portfolio of common stocks of companies with medium market capitalizations.*
FI All Cap Portfolio. To achieve long-term growth of capital.
MFS Investors Growth Portfolio. To achieve long-term growth of capital and future income by investing
primarily in a diversified portfolio of common stocks of companies that appear to offer better than average
long-term growth potential.
TRP Growth Stock Portfolio. To achieve long-term growth of capital and, secondarily, increase dividend income
by investing primarily in a diversified portfolio of common stocks of well-established growth companies.
Value Portfolio. To achieve long-term growth of capital.
Limited Maturity Bond Portfolio. To seek a high level of current income consistent with stability of principal.
We cannot assure that the Portfolios of the Fund will achieve their respective investment objectives. You
should periodically evaluate your allocation among the Subaccounts in light of current market conditions and
the investment risks associated with investing in the Fund's various Portfolios. A full description of the
Fund, its investment objectives, policies and restrictions, expenses, the risks associated with investing in
the Fund's seven new Portfolios (along with the seven other Portfolios) and other aspects of the Fund's
operation is contained in the Fund's prospectuses.
*The MFS Mid Cap Growth Portfolio is a non-diversified mutual fund. This means that the Portfolio may invest a
relatively high percentage of its assets in a small number of issuers and is more susceptible to any single
economic, political or regulatory event affecting those issuers than is a diversified Portfolio.
3. The current references to the Fund and Lutheran Brotherhood are amended by adding the following:
The Fund receives investment advice with respect to each of its Portfolios from Lutheran Brotherhood, which
also acts as investment adviser to the Fund. Lutheran Brotherhood is a registered investment adviser under the
Investment Advisers Act of 1940. The Fund and Lutheran Brotherhood have engaged the following investment
subadvisers:
Franklin Advisers, Inc. serves as subadviser for the FTI Small Cap Growth Portfolio.
Massachusetts Financial Services Company serves as subadviser for the MFS Mid Cap Growth Portfolio and the MFS
Investors Growth Portfolio.
Fidelity Management & Research Company serves as subadviser for the FI All Cap Portfolio. FMR Co., Inc. serves
as the Portfolio's sub-subadviser.
T. Rowe Price Associates, Inc. serves as subadviser for the TRP Growth Stock Portfolio.
The Fund and Lutheran Brotherhood pay each subadviser an annual fee for its subadvisory services. The formula
for determining the subadvisory fee is described fully in the prospectus for the Fund.
Lutheran Brotherhood has entered into an agreement with Aid Association for Lutherans ("AAL") under which
Lutheran Brotherhood will merge with and into AAL. Like Lutheran Brotherhood, AAL is a fraternal benefit
society. The merger is subject to approval from government agencies and is expected to close on approximately
January 1, 2002.
It is anticipated that, after the merger, the Variable Account will continue as a separate account of the
merged organization; the contracts offered by your Prospectus dated May 1, 2001, and this Supplement will
continue as contracts of the merged organization; and the merged organization will serve as the investment
adviser to each of the Portfolios, subject to approval of a new investment advisory contract with the merged
organization by the Fund's Board of Directors and by shareholders. It is anticipated that the scope of
services and fees payable under the new investment advisory contract will be equivalent to the services and
fees under the current investment advisory contract.
4. The Summary Fee Tables on pages 4-5 are replaced with the following:
The purpose of this table is to help you understand the various costs and expenses associated with your
Contract. You may allocate premiums and transfer Accumulated Value to any one of the Subaccounts - Opportunity
Growth, FTI Small Cap Growth, Mid Cap Growth, MFS Mid Cap Growth, World Growth, FI All Cap, Growth, MFS
Investors Growth, TRP Growth Stock, Value, High Yield, Income, Limited Maturity Bond, and Money Market - or to
the Fixed Account or to any combination of the Subaccounts and the Fixed Account. You pay no initial sales
charge when you purchase the Contract. All costs that you bear directly or indirectly for the Subaccounts and
Portfolios are shown below.
Contract Owner Expenses
Sales Load Imposed on Purchase
(as a percentage of purchase payments) . . . . . . . . . . . . 0%
Maximum Deferred Sales Load (as a
percentage of Excess Amount surrendered) . . . . . . . . . . . 6%(1)
Exchange Fee . . . . . . . . . . . . . . . . . . . . . . . . . . 0%
Annual Contract Fee . . . . . . . . . . . . . . . . . . . . . . . $30.00(2)
Annual Subaccount Expenses (as a percentage of average
daily Accumulated Value or Annuity Unit Value) Current(3) Maximum
Mortality and Expense Risk Charge . . . . . . . . . 1.10% 1.25%
Total Subaccount Annual Expenses . . . . . . . . . 1.10% 1.25%
LB Series Fund, Inc. Annual Expenses (as a percentage of average net assets of each portfolio)
Other Total
Expenses Portfolio
Advisory After Annual
Portfolio Fees Reimbursement(4) Expenses
--------- -------- ------------- --------
Opportunity Growth Portfolio .40% 0% .40%
FTI Small Cap Growth Portfolio
$0-$500 million 1.00% 0% 1.00%
More than $500 million .90% 0% .90%
Mid Cap Growth Portfolio .40% 0% .40%
MFS Mid Cap Growth Portfolio
$0-$500 million .90% 0% .90%
More than $500 million .80% 0% .80%
World Growth Portfolio .85% 0% .85%
FI All Cap Growth Portfolio
$0-$500 million .95% 0% .95%
More than $500 million .90% 0% .90%
Growth Portfolio .40% 0% .40%
MFS Investors Growth Portfolio
$0-$500 million .80% 0% .80%
More than $500 million .70% 0% .70%
TRP Growth Stock Portfolio
$0-$500 million .80% 0% .80%
More than $500 million .70% 0% .70%
Value Portfolio .60% 0% .60%
High Yield Portfolio .40% 0% .40%
Income Portfolio .40% 0% .40%
Limited Maturity Bond Portfolio .40% 0% .40%
Money Market Portfolio .40% 0% .40%
Examples
The following examples illustrate the expenses that you would incur on a $1,000 investment and a 5% return on
assets. In these examples, the $30 annual administrative charge is approximated as a 0.01% charge based on
Lutheran Brotherhood's average contract size. The examples reflect any current reimbursements of Fund
expenses. These reimbursements are anticipated to continue through 2002, but may be terminated at any time.
The examples should not be considered as representative of past or future expenses, and actual expenses may be
greater or less than those shown.
Based on the current mortality and expense risk charge, if you surrender or annuitize your Contract at the end
of the applicable time period, you would pay the following expenses:
1 3 5 10
Subaccount year years years years
---------- ---- ----- ----- -----
Opportunity Growth $71 $ 88 $104 $180
FTI Small Cap Growth(5) $77 $105 -- --
Mid Cap Growth $71 $ 88 $104 $180
MFS Mid Cap Growth(5) $76 $102 -- --
World Growth $76 $101 $127 $229
FI All Cap Growth(5) $76 $104 -- --
Growth $71 $ 88 $104 $180
MFS Investors Growth(5) $75 $ 99 -- --
TRP Growth Stock(5) $75 $ 99 -- --
Value(5) $73 $ 94 -- --
High Yield $71 $ 88 $104 $180
Income $71 $ 88 $104 $180
Limited Maturity Bond(5) $71 $ 88 -- --
Money Market $71 $ 88 $104 $180
Based on the current mortality and expense risk charge, if you do not surrender or annuitize your Contract, you
would pay the following expenses:
1 3 5 10
Subaccount year years years years
---------- ---- ----- ----- -----
Opportunity Growth $15 $ 48 $ 82 $180
FTI Small Cap Growth(5) $21 $ 66 -- --
Mid Cap Growth $15 $ 48 $ 82 $180
MFS Mid Cap Growth(5) $20 $ 63 -- --
World Growth $20 $ 62 $106 $229
FI All Cap Growth(5) $21 $ 65 -- --
Growth $15 $ 48 $ 82 $180
MFS Investors Growth(5) $19 $ 60 -- --
TRP Growth Stock(5) $19 $ 60 -- --
Value(5) $17 $ 54 -- --
High Yield $15 $ 48 $ 82 $180
Income $15 $ 48 $ 82 $180
Limited Maturity Bond(5) $15 $ 48 -- --
Money Market $15 $ 48 $ 82 $180
Based on the maximum mortality and expense risk charge, if you surrender or annuitize your Contract at the end
of the applicable time period, you would pay the following expenses:
1 3 5 10
Subaccount year years years years
---------- ---- ----- ----- -----
Opportunity Growth $73 $ 92 $111 $197
FTI Small Cap Growth(5) $78 $110 -- --
Mid Cap Growth $73 $ 92 $111 $197
MFS Mid Cap Growth(5) $77 $107 -- --
World Growth $77 $105 $134 $244
FI All Cap Growth(5) $78 $108 -- --
Growth $73 $ 92 $111 $197
MFS Investors Growth(5) $76 $104 -- --
TRP Growth Stock(5) $76 $104 -- --
Value(5) $75 $ 98 -- --
High Yield $73 $ 92 $111 $197
Income $73 $ 92 $111 $197
Limited Maturity Bond(5) $73 $ 92 -- --
Money Market $73 $ 92 $111 $197
Based on the maximum mortality and expense risk charge, if you do not surrender or annuitize your Contract, you
would pay the following expenses:
1 3 5 10
Subaccount year years years years
---------- ---- ----- ----- -----
Opportunity Growth $15 $ 48 $ 82 $180
Opportunity Growth $17 $ 52 $ 90 $197
FTI Small Cap Growth(5) $23 $ 71 -- --
Mid Cap Growth $17 $ 52 $ 90 $197
MFS Mid Cap Growth(5) $22 $ 68 -- --
World Growth $21 $ 66 $113 $244
FI All Cap Growth(5) $22 $ 69 -- --
Growth $17 $ 52 $ 90 $197
MFS Investors Growth(5) $21 $ 65 -- --
TRP Growth Stock(5) $21 $ 65 -- --
Value(5) $19 $ 58 -- --
High Yield $17 $ 52 $ 90 $197
Income $17 $ 52 $ 90 $197
Limited Maturity Bond (5) $17 $ 52 -- --
Money Market $17 $ 52 $ 90 $197
-----------------------
(1) A surrender charge is deducted only if a full or partial surrender occurs during the first six Contract
Years; no surrender charge is deducted for surrenders occurring in Contract Years seven and later. The
surrender charge will also be deducted at the time annuity payments begin, except under certain circumstances.
Up to 10% of the Accumulated Value existing at the time the first surrender in a Contract Year is made may be
surrendered without charge; only the Excess Amount will be subject to a surrender charge. The maximum charge is
6% of the Excess Amount and is in effect for the first Contract Year. Thereafter, the surrender charge
decreases by 1% each subsequent Contract Year.
(2) A $30 annual administrative charge is deducted on each Contract Anniversary only if, on that Contract
Anniversary, the total of premiums paid under the Contract minus all prior surrenders is less than $5,000 and
the Accumulated Value is less than $5,000. The $30 fee is a Contract charge and is deducted proportionately
from the Subaccounts and the Fixed Account that make up the Contract's Accumulated Value.
(3) The current charge for mortality and expense risk fees is equal to an annual rate of 1.10%, and we
guarantee that this charge will never exceed an annual rate of 1.25%. See Page 19 of your Prospectus.
(4) The amount shown for Fund Annual Expenses does not reflect a deduction for operating expenses of the Fund,
other than the investment advisory fee, because Lutheran Brotherhood and its affiliate, Lutheran Brotherhood
Variable Insurance Products Company ("LBVIP"), have agreed to reimburse the Fund for these operating expenses.
For the fiscal year of the Fund ending December 31, 2000, the Fund was reimbursed approximately $3,897,115 for
such operating expenses which would have represented approximately 0.04% of the average daily net assets of
each of the Portfolios in the Fund without the reimbursement. See Pages 9-11 of your Prospectus. The Expense
Reimbursement Agreement could be terminated at any time by the mutual agreement of the Fund, Lutheran
Brotherhood and LBVIP, but the Fund, Lutheran Brotherhood and LBVIP currently contemplate that the Expense
Reimbursement Agreement will continue so long as the Fund remains in existence. If the Expense Reimbursement
Agreement were terminated, the Fund would be required to pay these operating expenses, which would reduce the
net investment return on the shares of the Fund held by the Subaccounts of the Variable Account.
(5) The expenses are estimated and are provided for only the one and three-year periods. The Subaccount first
became available on November 30, 2001.
Individual Flexible Premium Variable Annuity Contract
Issued by
Lutheran Brotherhood
Supplement Dated November 30, 2001
to Statement of Additional Information Dated May 1, 2001
Effective November 30, 2001, seven new Subaccounts are available under LB Variable Annuity Account I (the
"Variable Account"). Accordingly, the following information should be read in conjunction with your Statement
of Additional Information dated May 1, 2001 for an individual flexible premium variable annuity contract issued
by Lutheran Brotherhood.
The second paragraph under the heading "Introduction" on page 2 should be replaced with the following:
Premiums will be allocated, as designated by the Contract Owner, to one or more Subaccounts of the Variable
Account, a separate account of LB and/or to the Fixed Account (which is the general account of LB, and which
pays interest at a guaranteed fixed rate). The assets of each Subaccount will be invested solely in a
corresponding Portfolio of LB Series Fund, Inc. (the "Fund"), which is a diversified, open-end management
investment company (commonly known as a "mutual fund"). The Prospectuses for the Fund that accompany the
Prospectus for your Contract describe the investment objectives and attendant risks of the 14 Portfolios of the
Fund - Opportunity Growth Portfolio, FTI Small Cap Growth Portfolio, Mid Cap Growth Portfolio, MFS Mid Cap
Growth Portfolio, World Growth Portfolio, FI All Cap Growth Portfolio, Growth Portfolio, MFS Investors Growth
Portfolio, TRP Growth Stock Portfolio, Value Portfolio, High Yield Portfolio, Income Portfolio, Limited
Maturity Bond Portfolio, and Money Market Portfolio. Additional Subaccounts (together with the related
additional Portfolios of the Fund) may be added in the future. The Accumulated Value of the Contract and,
except to the extent fixed amount annuity payments are elected by the Contract Owner, the amount of annuity
payments will vary, primarily based on the investment experience of the Portfolios whose shares are held in the
Subaccounts designated. Premiums allocated to the Fixed Account will accumulate at fixed rates of interest
declared by LB.
PART C. OTHER INFORMATIONItem 24. Financial Statements and Exhibits
(a) Financial Statements:
Part A: None.
Part B: Financial Statements of Lutheran Brotherhood. (2)
Financial Statements of LB Variable Annuity Account I. (2)
(b) Exhibits:
1. Resolution of the Board of Directors of Lutheran Brotherhood
("Depositor") authorizing the establishment of LB Variable
Annuity Account I ("Registrant"). (1)
2. Not Applicable.
3. (a) Form of Distribution Agreement between Depositor and
Lutheran Brotherhood Securities Corp ("LBSC"). (1)
(b) Forms of General Agent's Agreement and Selected
Registered Representative Agreement between LBSC and
agents with respect to the sale of Contracts. (1)
4. Form of Contract. (1)
5. Contract Application Form. (1)
6. Articles of Incorporation and Bylaws of Depositor. (1)
7. Not Applicable.
8. Not Applicable.
9. Opinion of counsel as to the legality of the securities being
registered (including written consent). (1)
10. Not Applicable.
11. Not Applicable.
12. Not Applicable.
13. Computations of Performance Data. (1)
14. Consent of Independent Accountant. (3)
15. Power of Attorney for Bruce J. Nicholson, Richard C. Kessler,
Addie J. Butler, Bobby I. Griffin, James M. Hushagen, Luther
S. Luedtke, Richard C. Lundell, John P. McDaniel, Paul W.
Middeke, Mary Ellen H. Schmider, Kurt M. Senske, Albert Siu,
David K. Stewart, and Lawrence W. Stranghoener. (2)
16. Consent of Counsel. (3)
--------------------------------
(1) Incorporated by reference from Post-Effective Amendment No. 8 to the
registration statement of LB Variable Annuity Account I, file no. 33-
67012, filed April 30, 1998.
(2) Incorporated by reference from Post-Effective Amendment No. 14 to the
registration statement of LB Variable Annuity Account I, file no. 33-
67012, filed April 24, 2001.
(3) Filed herewith.
Item 25. Directors and Officers of the Depositor
DIRECTORS POSITIONS AND OFFICES WITH DEPOSITOR
Dr. Addie J. Butler Director
Assistant Dean
Community College of Philadelphia
1700 Spring Garden Street
Philadelphia, Pennsylvania
Bobby I. Griffin Director
Retired Executive Vice President--
Medtronic, Inc.
1700 Spring Garden Street
Golden Valley, Minnesota
James M. Hushagen Director
Partner
Eisenhower & Carlson
1201 Pacific Avenue, Suite 1200
Tacoma, Washington
Richard C. Kessler Director
President and Chief Executive Officer
The Kessler Enterprise, Inc.
7380 Sand Lake Road, Suite 120
Orlando, Florida
Dr. Luther S. Luedtke Director
President and Chief Executive Officer
California Lutheran University
60 West Olsen Road
Thousand Oaks, California
Richard C. Lundell Director
Retired General Agent
Lutheran Brotherhood
7341 Dogwood Lane
Excelsior, Minnesota
John P. McDaniel Director
Chief Executive Officer
MedStar Health
5565 Sterett Place
Columbia, Maryland
Paul W. Middeke
Chief Financial Officer and Director
Vice President-Finance/Treasurer
The Lutheran Church--Missouri Synod
International Center
1333 Kirkwood Road
St. Louis, Missouri
Bruce J. Nicholson Director, President and Chief
Lutheran Brotherhood Executive Officer
625 Fourth Avenue South
Minneapolis, Minnesota
Dr. Mary Ellen H. Schmider Director
Faculty in History and English
University of Maryland
University College - European Division,
Heidelberg, Germany
7701 180th Street
Chippewa Falls, Wisconsin
Dr. Kurt M. Senske Director
President and Chief Executive Officer
Lutheran Social Services
408 West 45th Street
Austin, Texas
Dr. Albert K. Siu Director
Vice President
AT&T
17 SchoolHouse Road, Room 300
Somerset, New Jersey
OFFICERS POSITIONS AND OFFICES WITH DEPOSITOR
Bruce J. Nicholson President and Chief Executive
Officer
Lawrence W. Stranghoener Executive Vice President and Chief
Financial Officer
J. Keith Both Senior Vice President - Agency
Consulting Services
Randall L. Boushek Senior Vice President and Chief
Investment Officer
Michael E. Loken Senior Vice President - Information
Technology Resources
Jennifer H. Martin Senior Vice President - Corporate
Human Resources
James R. Olson Senior Vice President - Member
Services
James A. Thomsen Senior Vice President - Agencies
Daniel G. Walseth Senior Vice President, General
Counsel and Secretary
Mary M. Abbey Vice President - Client Systems
Galen R. Becklin Vice President - Information
Technology Data Center
Colleen Both Vice President - Chief Compliance
Officer
Michael R. Braun Vice President - Applications
David J. Christianson Vice President - Member Operations
Nathan A. Dungan Vice President - Brand/Stewardship
Development
Mitchell F. Felchle Vice President - Institutional
Relations Group
Charles E. Heeren Vice President - Mutual Fund
Equities
Roger W. Howe Vice President - Tech Competencies
Frederick P. Johnson Vice President - Investment
Operations
Gary J. Kallsen Vice President - Mortgages and Real
Estate
Richard J. Kleven Vice President - Law
Katie S. Kloster Vice President - Member Services
Fred O. Konrath Vice President - Field Leadership
Development
Douglas B. Miller Vice President - Agency Consulting
Services
C. Theodore Molen Vice President - Leadership
Development
Susan Oberman Smith Vice President - Product Development
Kay J. Owen Vice President - Corporate Planning
Brenda J. Pederson Vice President - Member Services
Dennis K. Peterson Vice President - Corporate Scorecard
Bruce M. Piltingsrud Vice President - Agency Consulting
Services
Richard B. Ruckdashel Vice President - Product Marketing
Rolf H. Running Vice President - Financial
Management
Thomas C. Schinke Vice President - Agency Consulting
Services
Mark L. Simenstad Vice President - Mutual Fund Bond
Investments
Lynette J.C. Stertz Vice President and Managing
Accountant - Controller
David K. Stewart Vice President and Treasurer
John O. Swanson, M.D. Vice President and Medical Director
Mark O. Swenson Vice President - General Accounting
Bond Investments
Sandra Ulsaker Wiese Vice President - Government Affairs
James M. Walline Vice President - Portfolio Manager
LB Fund
Anita J.T. Young Vice President - Assistant to
President
The principal business address of each of the foregoing officers is 625
Fourth Avenue South, Minneapolis, Minnesota55415.
Item 26. Persons Controlled by or Under Common Control with Depositor or
Registrant
Registrant is a separate account of Depositor, established by the Board of Directors of Depositor in 1993
pursuant to the laws of the State of Minnesota. Depositor is a fraternal insurance society organized under the
laws of the state of Minnesota and is owned by and operated for its members. It has no stockholders nor is it
subject to the control of any affiliated persons. Depositor controls the following wholly owned direct and
indirect subsidiaries: (a) Lutheran Brotherhood Financial Corporation ("LBFC"), a Minnesota corporation which
is a holding company that has no independent operations; (b) Lutheran Brotherhood Variable Insurance Products
Company ("LBVIP"), a Minnesota corporation organized as a stock life insurance company; (c) LBSC, a
Pennsylvania corporation which is a registered broker-dealer; (d) Lutheran Brotherhood Research Corp., a
Minnesota corporation which is a licensed investment adviser; (e) Lutheran Brotherhood Property & Casualty
Insurance Agency, Inc., a Minnesota corporation, which is a property and casualty insurance agency; (f) LB
Bancorp, Inc., a federal corporation, which is a bank holding company; (g) MCB Financial Services, Inc., a
Minnesota corporation, which is an insurance company; and (h) LB Community Bank & Trust, fsb, which is a
federal savings bank.
Item 27. Number of Contract Owners
There were 120,360 Contract Owners as of September 30, 2001.
Item 28. Indemnification
Reference is hereby made to Section 5 of Depositor's Bylaws, filed as an Exhibit to this Registration
Statement, and to Section 5 of LBSC's By-Laws, which mandate indemnification by Depositor and LBSC of
directors, officers and certain others under certain conditions. Insofar as indemnification for liabilities
arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of
Depositor or LBSC, pursuant to the foregoing provisions or otherwise, Depositor and LBSC have been advised that
in the opinion of the Securities and Exchange Commission such indemnification is against public policy as
expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against
such liabilities (other than the payment by Depositor or LBSC of expenses incurred or paid by a director or
officer or controlling person of Depositor or LBSC in the successful defense of any action, suit or proceeding)
is asserted by such director, officer or controlling person of Depositor or LBSC in connection with the
securities being registered, Depositor or LBSC will, unless in the opinion of its counsel the matter has been
settled by controlling precedent, submit to a court of appropriate jurisdiction the question of whether or not
such indemnification by it is against public policy as expressed in the Act and will be governed by the final
adjudication of such issue.
An insurance company blanket bond is maintained providing $15,000,000 coverage for officers, employees, and
agents of Lutheran Brotherhood, LBVIP and LBSC.
Item 29. Principal Underwriter
(a) LBSC, the principal underwriter of the Contracts, is also named as distributor of the stock of The
Lutheran Brotherhood Family of Funds, a diversified open-end investment company organized as a Delaware
business trust, consisting of the following series: Lutheran Brotherhood Opportunity Growth Fund, Lutheran
Brotherhood Mid Cap Growth Fund, Lutheran Brotherhood World Growth Fund, Lutheran Brotherhood Growth Fund,
Lutheran Brotherhood Fund, Lutheran Brotherhood Value Fund, Lutheran Brotherhood High Yield Fund, Lutheran
Brotherhood Income Fund, Lutheran Brotherhood Municipal Bond Fund, Lutheran Brotherhood Limited Maturity Bond
Fund and Lutheran Brotherhood Money Market Fund. LBSC also acts or will act as the principal underwriter of
the following variable contracts: flexible premium variable life insurance contracts issued by Depositor
through LB Variable Insurance Account I, a separate account of Depositor to be registered as a unit investment
trust under the Investment Company Act of 1940; flexible premium deferred variable annuity contracts issued by
LBVIP through LBVIP Variable Annuity Account I, a separate account of LBVIP registered as a unit investment
trust under the Investment Company Act of 1940; flexible premium variable life insurance contracts issued by
LBVIP through LBVIP Variable Insurance Account, a separate account of LBVIP registered as a unit investment
trust under the Investment Company Act of 1940; and of single premium variable life insurance contracts issued
by LBVIP through LBVIP Variable Insurance Account II, a separate account of LBVIP registered as a unit
investment trust under the Investment Company Act of 1940.
(b) The directors and officers of LBSC are as follows:
Bruce J. Nicholson Director and Chairman
James A. Thomsen Director and President
Randall L. Boushek Director
Jennifer H. Martin Director
Lawrence W. Stranghoener Director
Daniel G. Walseth Director
David K. Stewart Treasurer
John C. Bjork Secretary
Colleen Both Vice President and Chief Compliance
Officer
J. Keith Both Vice President
David J. Christianson Vice President
Mitchell F. Felchle Vice President
Douglas B. Miller Vice President
James R. Olson Vice President
Bruce M. Piltingsrud Vice President
Richard B. Ruckdashel Vice President
Thomas C. Schinke Vice President
The principal business address of each of the foregoing officers is 625 Fourth Avenue South, Minneapolis,
Minnesota55415.
(c) Not Applicable.
Item 30. Location of Accounts and Records
The accounts and records of Registrant are located at the office of Depositor at 625 Fourth Avenue South,
Minneapolis, Minnesota55415.
Item 31. Management Services
Not Applicable.
Item 32. Undertakings
Registrant will file a post-effective amendment to this Registration Statement as frequently as is necessary to
ensure that the audited financial statements in this Registration Statement are never more than 16 months old
for so long as payments under the Contracts may be accepted.
Registrant will include either (1) as part of any application to purchase a Contract offered by the Prospectus,
a space that an applicant can check to request a Statement of Additional Information, or (2) a postcard or
similar written communication affixed to or included in the Prospectus that the applicant can remove to send
for a Statement of Additional Information.
Registrant will deliver any Statement of Additional Information and any financial statements required to be
made available under this form promptly upon written or oral request.
Registrant understands that the restrictions imposed by Section 403(b)(11) of the Internal Revenue Code
conflict with certain sections of the Investment Company Act of 1940 that are applicable to the Contracts. In
this regard, Registrant is relying on a no-action letter issued on November 28, 1988 by the Office of Insurance
Product and Legal Compliance of the SEC, and the requirements for such reliance have been complied with by
Registrant.
Lutheran Brotherhood hereby represents that, as to the individual flexible premium variable annuity contracts
that are the subject of this registration statement, File Number 33-67012, that the fees and charges deducted
under the contracts, in the aggregate, are reasonable in relation to the services rendered, the expenses
expected to be incurred and the risks assumed by Lutheran Brotherhood.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the
Registrant certifies that it meets all of the requirements for effectiveness of this amendment to the
Registration Statement pursuant to Rule 485(b) under the Securities Act of 1933 and has duly caused this
amendment to the Registration Statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Minneapolis and State of Minnesota on the 30th day of November, 2001.
LB VARIABLE ANNUITY ACCOUNT I
(Registrant)
By LUTHERAN BROTHERHOOD
(Depositor)
By *
----------------------------
Bruce J. Nicholson, President
and Chief Executive Officer
Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the
Depositor has duly caused this Amendment to the Registration Statement to be signed on its behalf by the
undersigned, thereunto duly authorized, in the City of Minneapolis and State of Minnesota on the 30th day of
November, 2001.
LUTHERAN BROTHERHOOD
(Depositor)
By *
----------------------------
Bruce J. Nicholson, President
and Chief Executive Officer
Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, this
Amendment to the Registration Statement has been signed on the 30th day of November, 2001 by the following
directors and officers of Depositor in the capacities indicated:
* President and Chief Executive Officer
---------------------------
Bruce J. Nicholson
* Executive Vice President and Chief
---------------------------- Financial Officer (Principal
Lawrence W. Stranghoener Financial Officer)
* Vice President and Treasurer (Principal
---------------------------- Accounting Officer)
David K. Stewart
A Majority of the Board of Directors:*
Addie J. Butler John P. McDaniel
Bobby I Griffin Paul W. Middeke
James M. Hushagen Bruce J. Nicholson
Richard Kessler Mary Ellen H. Schmider
Luther S. Luedtke Kurt M. Senske
Richard C. Lundell Albert K. Siu
* John C. Bjork, by signing his name hereto, does hereby sign this document on behalf of each of the
above-named directors and officers of Lutheran Brotherhood pursuant to a power of attorney duly executed by
such persons and previously filed in Post-Effective Amendment No. 14.
By: /s/ John C. Bjork
--------------------------------
John C. Bjork, Attorney-in-Fact
INDEX TO EXHIBITS
LB VARIABLE ANNUITY ACCOUNT IEXHIBIT NO.
-----------
14 Consent of Independent Accountant.
16 Consent of Counsel.
Dates Referenced Herein and Documents Incorporated by Reference
