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Home My WebLink About5756VOYA, Voya Retirement Insurance and Annuity Company One Orange Way Windsor, Conpecticut 06095-4774 800-525-4225 If you have questions about the Contract, call the toll-free number shown above. Group Combination Deferred Annuity Contract (Nonparticipating) Voya Retirement Insurance and Annuity Company (VRIAC), a stock company, will pay benefits according to the terms and conditions set forth in this Contract. This Contract is delivered in Washington and is subject to the laws of that jurisdiction. No premium taxes apply to Washington contracts. Please read this Contract carefully. It states the Company's contractual rights and obligations as well as the rights and obligations of the Contract Holder and Participants. ecifications Plan CITY OF BREMERTON Type of Plan VOLUNTARY TDA PLUS Contract Holder CITY OF BREMERTON Group Annuity Contract Number VB2206 Contract Effective Date AUGUST 25, 2004 Right to Cancel The Contract Holder may cancel this Contract within 10 calendar days of receiving it by returning it to the Company at the address shown above, or to the agent from whom it was purchased. Within seven calendar days of receiving the cancellation request at its Home Office, the Company will return any Contributions received, plus any increase, or minus any decrease in value, on the amount, if any, allocated to the Separate Account. Signed at the Home Office on the Effective Date. i . 61t"_ President Secretary THE VARIABLE FEATURES OF THIS CONTRACT ARE DESCRIBED IN SECTIONS 3 AND 11. All payments and values provided by the group Contract, when based on the investment experience of the Separate Account, are variable and are not guaranteed as to fixed dollar amount. Amounts allocated to the Guaranteed Accumulation Account, if withdrawn before a guaranteed term maturity date, may be subject to a market value adjustment. The market value adjustment may result in.an increase, or a decrease, in the Individual Account value. G-CDA(12/99)(WA) Table of Contents Page Contract Schedule 1. Accumulation Phase S t - 1 Contract Schedule 11. Annuity Phase S 11 - 1 Definitions 1 Section 1. General Contract Provisions 3 1.01 Entire Contract............................................................................................................................. 3 1.02 Nonparticipating Contract............................................................................................................. 3 1.03 Control of Contract............................................:......................................................................... 3 1.04 Certificate......................................................:............................................................................. 3 1.05 Incontestability............................................................................................................................ 3 1.06 Grace Period............................................................................................................................... 3 1.07 Change of Contract...................................................................................................................... 3 1.08 Payments.........................................................................................:.......................................... 4 1.09 Deferral of Payment.....................................................:.:............................................................. 4 1.10 Proof of Age............................................................................................................................... 4 1.11 Evidence of Survival........................................................................................... 1.12 Misstatements and Adjustments................................................................................................... 5 1.13 Reports....................................................................................................................................... 5 1.14 State Laws.................................................................................................................................. 5 1.15 Claims of Creditors...................................................................................................................... 5 1.16 Maintenance Fee.......................................................................................................................... 5 1.17 Charges for Additional Services................................................................................................... 5 1.18 Charges Subject to Change.......................................................................................................... 5 Part I. Accumulation Phase 6 Section 2. Contributions and Individual Account Value 6 2.01 Contributions..................................................................................................................:............. 6 2.02 Premium Tax............................................................................................................................... 6 2.03 Individual Account....................................................................................................................... 6 2.04 Experience Credit........................................................................................................................ 6 2.05 Individual Account Value...........................:.................................................................................. 6 Section 3. Separate Account 7 3.01 General 3.02 Funds Available........................................................................................................................... 7 3.03 Change or Substitution of Funds.................................................................................................. 7 3.04 Accumulation Units...................................................................................................................... 7 3.05 Accumulation Unit Value............................................................................................................... 7 3.06 Net Investment Factor.................................................................................................................. 7 3.07 Charges to the Separate Account.................................................................................................. 8 3.08 Fund Transfers............................................................................................................................ 8 3.09 Withdrawals from the Separate Account........................................................................................ 8 G-CDA(12/99)(WA) I Page Section 4. Voya GET Fund 8 4.01 GET Fund Guarantee Period......................................................................................................... 8 4.02 GET Fund Offering Period............................................................................................................ 8 4.03 GET Fund Guarantee.................................................................................................................... 9 4.04 GET Fund Maturity Date.....................................:...................................................................:..... 9 4.05 Transfers or Withdrawals from the GET Fund................................................................................. 9 Section 5. Fixed Account 9 5.01 Fixed Account Minimum Guaranteed Interest Rate......................................................................... 9 5.02 Transfers from the Fixed Account................................................................................................. 10 5.03 Withdrawals from the Fixed Account.............................................................................................. 10 Section 6. Fixed Plus Account 10 6.01 Fixed Plus Account Minimum Guaranteed Interest Rate..............................:................................... 10 6.02 Transfers from the Fixed Plus Account................................:..............:......................................... 10 6.03 Partial Withdrawals from the Fixed Plus Account........................................................................... 11 6.04 Full Withdrawal of the Total Amount in the Fixed Plus Account....................................................... 11 6.05 Waiver of Fixed Plus Account Full Withdrawal Provision................................................................ 11 Section 7. Guaranteed Accumulation Account (GAA) 11 7.01 Nonunitized Separate Account...................................................................................................... 11 7.02 GAA Minimum Guaranteed Interest Rate........................:................................................................ 12 7.03 Deposit Period............................................................................................................................ 12 7.04 Guaranteed Term......................................................................................................................... 12 7.05 Guaranteed Term Groups............................................................................................................. 12 7.06 Maturity Date, Maturity Value and Reinvestment............................................................................ 12 7.07 Transfers and Withdrawals from the GAA...................................................................................... 12 7.08 Application of the Market Value Adjustment.................................................................................. 13 7.09 Market Value Adjustment (MVA).................................................................................................... 13 Section 8. Transfers, Withdrawals and Distributions 14 8.01 Transfers..................................................................................................................................... 14 8.02 Withdrawals................................................................................................................................. 14 8.03 Withdrawal Restrictions Under the Code........................................................................................ 14 8.04 Withdrawal Charge....................................................................................................................... 15 8.05 Waiver of Withdrawal Charge........................................................................................................ 15 8.06 Reinstatement.............................................................................................................................. 15 8.07 Required Distributions.................................................................................................................. 15 8.08 Systematic Distribution Options (SDOs)............:.......................................................................... 16 8.09 Individual Account Termination...................................................................................................... 16 Section 9. Loans 16 9.01 Loan Availability.......................................................................................................................... 16 Section 10. Death Benefit During the Accumulation Phase 16 10.01 Death Benefit..................:........................................................................................................... 16 10.02 Contract Beneficiary.................................................................................................................... 16 10.03 Distribution of Death Benefit........................................................................................................ 16 G-CDA(12/99)(WA) ii Part Il. Annuity Phase Section 11. General Provisions 11.01 Election....................................................................................... 11.02 Change of Annuity Provisions..................................................... 11.03 Annuity Options.......................................................................... 11.04 Mortality Table............................................................................ 11.05 Payments..........................................................................:......... 11.06 Investment Options..................................................................... .11.07 Fixed Annuity Minimum Guaranteed Interest Rate ...................... 11.08 Variable Annuity Assumed Annual Net Return Rate Election ....0 11.09 Variable Annuity Transfers.......................................................... 11.10 Fund Annuity Units..................................................................... 11.11 Fund Annuity Unit Value............................................................. 11.12 Fund Annuity Net Return Factor ................................................. 11.13 Death Benefit During the Annuity Phase ..................................... 11.14 Charges to the Separate Account .............................................. Annuity Tables G-CDA(12/99)(WA) iii Page 17 17 17 17 17 18 18 18 19 19 19 19 19 20 20 20 21 Contract Schedule Accumulation Phase Control of Contract (see 1.03) The Contract Holder controls this Contract. B;y notifying us in writing, the Contract Holder may allow Participants to choose Investment Options for an Individual Account. All amounts held under this Contract, and any amounts paid or distributed, are for the exclusive benefit of Plan Participants and their beneficiaries as provided under Code Section 457(g). Maintenance Fee (see 1.16) The maintenance fee for each Individual Account is $0.00 as of the Effective Date of the Contract and is subject to change (see 1.18). The fee will never exceed $30.00. Contribution Limits (see 2.01) Contribution limits are as set forth in the Code and in the Plan. Separate Account (see 3.01) Variable Annuity Account C Daily Charges to the Separate Account (see 3.07) Charges to the Separate Account are subject to change (see 1.18). The charges as of the Effective Date of the Contract are as follows: Mortality and Expense Risk Charge: 0.95% (annual basis) This charge will never exceed 1.50% (annual basis) Administrative Charge: 0.00% (annual basis) This charge will never exceed 0.25% (annual basis) Voya GET Fund Guarantee Charge: If applicable, the charge will be provided to the Contract Holder and will never exceed 0.75% (annual basis) Fixed Interest Options Available (see Section 5, Section 6, and Section 7) Fixed Plus Account Fixed Account Minimum Guaranteed Interest Rate (see 5.01) The interest rate will never be less than 30/6 (annual basis). Fixed Account Annual Transfer Limit (see 5.02) 10% Fixed Plus Account Minimum Guaranteed Interest Rate (see 6.01) The interest rate will never be less than 3% (annual basis). Fixed Plus Account Annual Transfer and Partial Withdrawal Limit (see 6.02 and 6.03) 20% Waiver of Fixed Plus Account Transfer Limit (see 6.02) $2,000 G-CDA(12/99)(WA) S I - 1 Waiver of Fixed Plus Account Full Withdrawal Provision (see 6.05) When a full withdrawal is requested, payment from the Fixed Plus Account is not limited as described in 6.04 when the withdrawal is made: (a) When the amount in the Fixed Plus Account is $5,000 or less (or, if applicable, as otherwise allowed by the Plan for lump -sum cash -out without Participant consent) and during the previous 12 months no amounts have been withdrawn, transferred, taken as a loan (if allowed under the Contract), or used to purchase Annuity payments; (b) Due to a Participant's death before Annuity payments begin and paid within six months of the Participant's death; (c) As provided in Section 8.09; (d) To purchase Annuity payments on a life -contingent basis or payments for a stated period on a fixed -only basis; (e) When a Participant is separated from service, and when: (1) Separation from service is documented in a form acceptable to us; (2) The amount is paid directly to the Participant; and (3) The amount paid for all withdrawals due to separation from service during the previous 12 months does not exceed 20% of the average value of all Individual Accounts under the Contract during that period; (f) Due to hardship due to an unforeseeable emergency as defined in the Code, and when: (1) Certified by the employer; (2) The amount is paid directly to the Participant; and (3) The amount paid for all withdrawals due to financial hardship during the previous 12 months does not exceed 10% of the average value of all Individual Accounts under the Contract during that period; or (g) For any in-service distribution permitted by the plan, and when: (1) Certified by the employer; (2) The amount is paid directly to the Participant; and (3) When the amount paid for all such distributions during the previous 12 months does not exceed 10% of the average value of all Individual Accounts under the Contract during that period. Guaranteed Accumulation Account Minimum Guaranteed Interest Rate (see 7.02) The interest rate will never be less than 3% (annual basis). Withdrawal Restrictions Under the Code (see 8.03) Limitations apply to withdrawals as provided by the Code and the Plan. Withdrawal Charge (see 8.04) A withdrawal charge does not apply. G-CDA(12/99)(WA) SI -2 Waiver of Withdrawal Charge (see 8.'05) Waivers are not applicable; a withdrawal charge does not apply. Required Distributions (see 8.07) Generally, distribution must begin no later than April 1 following the later of the calendar year in which a Participant attains age 70 1/2 or retires. Payments over a period of more than one year must be in substantially non -increasing amounts. Individual Account Termination Amount (see 8.09) $5,000 Loans (see 9.01) Loans are not available under this Contract. Contract Beneficiary (see 10.02) The Contract Holder is the Contract beneficiary. A Participant may designate a beneficiary under the Plan (Plan beneficiary). G-CDA(12/99)(WA) SI -3 Contract Schedule IB Annuity Phase . Payment Period (see 11.03) The period for which we will guarantee Annuity payments must be at least five years and no more than 30 years. Mortality Table (see 11.04) Society of Actuaries' 1983 Table a Maximum Number of Funds (see 11.06) The maximum number of Funds is four. Fixed Annuity Minimum Guaranteed Interest Rate (see 11.07) 3% (annual basis) Number of Annual Transfers Among Funds (see 11.09) Each calendar year, we allow twelve transfers among funds. Daily Charges to the Separate Account (see 11.14) Charges to the Separate Account will never be more than the following: Mortality and Expense Risk Charge: 1.25% (annual basis) Administrative Charge: 0.25% (annual basis) G-CDA(12/99)(WA) SII - 1 Definitions Accumulation Phase The time between an Individual Account Effective Date .and the date on which the entire Individual Account value is used to purchase Annuity payments, or otherwise distributed. Voya GET Fund (GET Fund) The Voya GET Fund is an Investment Option which may be available during the Accumulation Phase. The. GET Fund operates as a series offering. Each series is a separate Fund. Voya Retirement Insurance and Annuity Company (VRIAC) Voya Retirement Insurance and Annuity Company ("we," and "our," and "us," and "the Company" refer to VRIAC). Annuitant The person whose life expectancy determines the amount and/or duration of the payments under a life -contingent Annuity option. Annuity Payment of ani income: (a) For a stated period; (b) For the life of one or two people; or (c) Some combination of (a) and (b). A fixed Annuity is one in which the payment amount does not vary. A variable Annuity is one in which the payment amount may vary based on the net investment results of the Funds. Annuity Phase The time during which we make Annuity payments. Business Day Each day our Home Office is open for business. Code The Internal Revenue Code of 1986, as it is amended from time to time. Contract This agreement between the Company and the Contract Holder. Contract Holder The entity, or person, named in the specifications section on the face page, to which the Contract is issued. Contribution The payment made to us during the Accumulation Phase. The Contribution may be reduced by any applicable premium tax due. Effective Date The date, shown in the specifications section on the face page, on which we issue the Contract or establish an Individual Account. Fixed Account A Fixed Interest Option. The Fixed Account is an obligation of our General Account. Fixed Interest Options Investment options, including the Fixed Account, the Fixed Plus Account and the Guaranteed Accumulation Account that credit interest. The Fixed Interest Options available during the Accumulation Phase are shown on Contract Schedule I under Fixed Interest Options Available. Fixed Plus Account A Fixed Interest Option. Limitations apply to withdrawals from the Fixed Plus Account. The Fixed Plus Account is an obligation of our General Account. G-CDA(12/99)(WA) Fund A variable Investment Option available under this Contract. The Funds are open-end registered investment management companies (mutual funds) in which the! Separate Account invests. General Account The account that holds our assets other than those held in the Separate Account or Nonunitized Separate Account. Guaranteed Accumulation Account (GAA) A Fixed Interest Option that may be available during the Accumulation Phase. Under this option, we guarantee specified rates of interest for specified periods of time. Amounts allocated to the Guaranteed Accumulation Account are held in the Nonunitized Separate Account. Good Order Instructions that are complete and clear enough to allow us to act without exercising discretion. Home Office Our main office located at One Orange Way, Windsor, Connecticut 06095-4774 . Individual Account An account, or accounts (including, if applicable, employer and employee accounts) established for each Participant to maintain a record of transactions and the value of Contributions as invested. Investment Options The Funds'and Fixed Interest Options available under this Contract. Maturity Date The last day of a GAA guaranteed term or the last day of the guarantee period of an Voya GET Fund series. Nonunitized Separate Account A separate account that holds assets allocated to the Guaranteed Accumulation Account. Participant A person who is covered under the retirement Plan or program for which this Contract is issued and who has an interest in this Contract. Plan The retirement plan or program for which this Contract is issued. Premium Tax Any tax assessed by any governmental entity on Contributions or amounts used to purchase Annuity payments. Separate Account An account that buys and holds shares of the Funds through its subaccounts. Valuation Date The date and time at which accumulation unit values and Annuity unit values are calculated. Currently, this calculation is made after the close of business of the New York Stock Exchange on any normal business day, Monday through Friday, that the New York Stock Exchange is open. G-CDA(12/99)(WA) 2 Section 1. General Contract Provisions 1.01 Entire Contract The entire Contract consists of this document, any attachments and any endorsements incorporated. The Plan, if applicable, is not part of the Contract and the Company is not bound by its terms. 1.02 Nonparticipating Contract This Contract is nonparticipating. The Contract Holder, a Participant or a Contract beneficiary have no right to share in our earnings. 1.03 Control of Contract Control of the Contract is as shown on Contract Schedule I under Control of Contract. 1.04 Certificate Any certificate provided to a Participant summarizes Contract provisions; it is for information only and is not part of the Contract. We will provide certificates as required by state law in the state where the Contract is delivered and as allowed under the Plan. 1.05 Incontestability We will not cancel this Contract because of any error of fact. 1.06 Grace Period Except as provided in 8.09, this Contract and all Individual Accounts will remain in effect even if Contributions are not continued. 1.07 Change of Contract Only a Company officer at the level of Vice President or higher, or an officer with written delegation of authority from a Vice President or higher officer, may change the terms of this Contract. No other Company officer, employee, agent or representative can change this Contract. Except as noted below, this Contract may be changed at any time by written mutual agreement between the Contract Holder and the Company. For changes we initiate requiring Contract Holder consent, we notify the Contract Holder 60 calendar days in advance of the change and consider that the Contract Holder has agreed to the change unless we receive written notice that the Contract Halder does not agree to the change at least 30 calendar days before the date the change becomes effective. If we propose a change requiring Contract Holder consent and the Contract Holder does not agree to the change, we have the right. to not establish new Individual Accounts and to stop accepting Contributions to existing Individual Accounts. We will not reduce the minimum guaranteed interest rate for the Fixed Account and the Fixed Plus Account. We have the right to change the following without Contract Holder consent: (a) Net Investment Factor (see 3.06) We may change the net investment factor by notifying the Contract Holder in writing at least 30 calendar days before the change becomes effective. If we do this, the change will apply only to Individual Accounts established, and Contributions received, after the date the change becomes effective. G-CDA(12/99)(WA) 3 1.08 1.09 (b) Guaranteed Accumulation Account (GAA) market value adjustment (see 7.09) We may change the GAA market value adjustmient by notifying the Contract Holder in w 1iting at least 90 calendar days before the change becomes effective. If we do this, the change will apply. only to guaranteed terms offered in deposit periods after the date the change becomes effective'. (c) Systematic Distribution Options (see 8.08) We may change systematic distribution options by notifying the Contract Holder in writing at least 30 calendar days before the change becomes effective. If we do this, the change will not apply to Participants or beneficiaries receiving payments) under an option before the date the change becomes effective. (d) Annuity Options (see 11.03) We may change Annuity options by notifying the Contract Holder in writing at least 30 calendar days before the date the change becomes effective. If we do this, the change will not take effect until at least 12 months after the Effective Date of the Contract, or until at least 12 months after any previous change. Any change will not apply to Participants or beneficiaries receiving Annuity payments before the date the change becomes effective. (e) Mortality Table (see 11.04) We may change the mortality table by notifying the Contract Holder in writing at least 30 calendar days before the date the change becomes effective. If we do this, the new table will not apply to Individual Accounts established before the date the change becomes effective. In addition, we may change this Contract as required to comply with state and federal law without Contract Holder consent by notifying the Contract Holder at least 30 calendar days before the date the change becomes effective. Any unilateral change will not apply to Individual Accounts established before the date the change becomes effective, but will apply to Individual Accounts established on or after the date the change becomes effective. If we make a unilateral change, the Contract Holder or Participants, as applicable, are permitted to terminate participation in the Contract before the date the change becomes effective under the terms of the Contract in effect prior to the date the change becomes effective. As required by law, we will make any change of Contract by endorsement, which may be subject to regulatory approval in the state where the Contract is delivered. Payments We make payments as directed by the Contract Holder or a Participant, as applicable. Payments requests must be in writing or as we otherwise allow in our administrative practice. We determine the amount of any payment based on the Individual Account value as of the next Valuation Date following our receipt of a. payment request in Good Order at our Home Office. Generally, we make payments within seven calendar days. Deferral of Payment We may defer payment up to a period of six months or as otherwise provided by state and/or 1.10 Proof of Age If a life -contingent Annuity option is elected, we may Evidence of Survival We may require proof that any Annuitant under a I G-CDA(12/99)(WA) 4 re proof of the age of an Annuitant. Annuity option is living. law. 1.12 Misstatements and Adjustments If we learn that the age of any Annuitant or second Annuitant is misstated, we will use the correct age to adjust payments. We reserve the right to obtain reimbursement, or to adjust future paymentsfor any amount we overpaid. We will pay the amount of any underpayment. 1.13 Reports Each calendar year we provide the Contract Holder or a Participant, as applicable, with a report of the Individual Account value. We also provide an annual report.for the Separate Account. 1.14 State Laws This Contract complies with the laws of the state in which it is delivered. Any cash, death or Annuity payments are equal to or greater than the minimum required. To determine legal reserve valuation, we use Annuity tables as required by law; such tables may be different from those we use to determine Annuity payments. 1.15 Claims of Creditors Individual Accounts are not subject to the claim of any creditor of the Contract Holder, a Participant or a beneficiary, except to the extent permitted by law. 1.16 Maintenance Fee We may deduct an annual maintenance fee during the Accumulation Phase. The amount of the maintenance fee, if any, for this Contract will never be more than the amount shown on Contract Schedule I under Maintenance Fee. The fee, if any, is deducted proportionately from each Investment Option in which the Individual Account is invested on the anniversary of the Individual Account Effective Date. The fee is also deducted if the entire Individual Account value is withdrawn. If a Participant has more than one Individual Account, we may deduct the fee proportionately from all Individual Accounts. We may eliminate the fee for an Individual Account established with one lump -sum Contribution. 1.17 Charges for Additional Services At the request of the Contract Holder, we or our authorized representatives, may provide administrative services to the Plan. We reserve the right to charge for such services. 1.18 Charges Subject to Change The maintenance fee (see 1.16) and charges to the Separate Account during the Accumulation Phase (see 3.07) may vary (increase, decrease, or be eliminated), based on the total assets held in all Individual Accounts under the Contract. In determining total assets, we may aggregate Individual Accounts established under different Company Contracts. The aggregate amount is equal to the sum of assets in all Individual Accounts under this Contract, plus the value of Individual Accounts under other Company Contracts of the same class issued to the Contract Holder. We may determine the amount of the maintenance fee and/or charges to the Separate Account based on total assets on an annual basis. We will determine initial charges based on our estimate of the amount that will be allocated to the Contract during a period mutually agreed upon by the Contract Holder and us. G-CDA(12/99)(WA) 5 Part I. Accumulation Phase Section 2. Contributions and Individual Account Value 2.01 Contributions We allocate Contributions in whole percentages among the Investment Options available as directed by the Contract Holder or a Participant, as applicable. Changes in future Contribution allocation may be made at any time without charge. The Contract Holder or a Participant, as applicable, may also establish an Individual Account with one lump sum Contribution. We reserve the right to establish minimum Contribution amounts and to refuse to accept any CoIntribution. Contributions to Individual Accounts may be limited as provided in the Code. The limits, if any, are shown on Contract Schedule I under Contribution Limits. 2.02 Premium Tax We pay any applicable premium tax when it is due. We will deduct the amount of any applicable tax from the Individual Account value no earlier than when there is a fax liability. We reserve the deduct any premium tax due before a Contribution is allocated to an Individual Account. 2.03 Individual Account We will establish an Individual Account for each Participant. If required, we will provide accounts that distinguish between employer and employee Participant. 2.04 Experience Credit We may apply experience credits (investment, admini, may apply such credits as: (a) A reduction in the maintenance fee; (b) A reduction in the mortality and expense risk c (c) A reduction in the administrative charge to the (d) An increase in a Fixed Interest Option interest We will apply experience credits at our sole discretion which the Contract is issued. 2.05 Individual Account Value As of the most recent Valuation Date, the Individual A (a) Plus any interest added on the amount, if any, (b) Plus or minus the investment experience on th (c) Minus any applicable maintenance fees, any ai payments, or any applicable premium tax; and (d) Minus any applicable fees or charges deducte( G-CDA(12/99)(WA) 6 premium right to for each ;ive, mortality or other) under this Contract and le to the Separate Account; )arate Account; and we deem appropriate for the class of contracts to count value is equal to the total of all llocated to a Fixed Interest Option(s); amount, if any, held in the Separate i founts withdrawn, or used to purchase butions: Lint; uity Section 3. Separate Account 3.01 General The Separate Account, established under Title 38a; Section 38a-433 of the Connecticut General Statutes, buys and holds shares of the Funds available under the Contract. The Separate Account is registered as a unit investment trust under the Investment Company Act of 1940. We own the assets held in the Separate Account; we are not a trustee of those assets. Income, gains or losses, realized or unrealized, are credited to or charged against the Separate Account without regard to our other income, gains or losses. Separate Account assets, to the extent of reserves and other Contract liabilities, cannot be charged with liabilities arising out of any other business we conduct. 3.02 Funds Available We reserve the right to limit the number of Funds in which an Individual Account may be invested, at one time or cumulatively, during the Accumulation Phase and/or Annuity Phase. 3.03 Change or Substitution of Funds We reserve the right to stop offering any Fund or to add Funds. We may substitute shares of a Fund for shares of another Fund. We will provide the Contract Holder with reasonable advance notice of any elimination, addition or substitution of a Fund. If the Plan is subject to ERISA, we will seek Contract Holder consent in advance of any Fund substitution. Consent will be deemed given unless, following notice of substitution and within a prescribed time period, the Contract Holder notifies us in writing that it does not consent and provides us with alternative investment instructions for the shares that would otherwise be affected by the substitution. 3.04 Accumulation Units Each Contribution allocated to one or more of the Funds is credited to an Individual Account as accumulation units. The number of accumulation units is calculated by dividing the amount of the Contribution allocated to the Fund by the accumulation unit value (see 3.05) as of the next Valuation Date following our receipt of the Contribution in Good Order at our Home Office. 3.05 Accumulation Unit Value The value of each accumulation unit for any Fund for each Valuation Date is computed by multiplying the net investment factor (see 3.06) by the accumulation unit value for such Valuation Date. Accumulation unit values may increase or decrease from Valuation Date to Valuation Date. 3.06 Net Investment Factor The net investment factor is used to compute the accumulation unit value for any Fund. For each Valuation Date, for each Fund, the net investment factor is equal to 1.0000000, plus the net return rate. The net return rate equals: [a - b - c] ------------- - e - f Where: a is the value of the shares of the Fund held by the Separate Account on the current Valuation Date; b is the value of the shares of the Fund held by the Separate Account on the prior Valuation Date; c is taxes or provisions for taxes, if any, on the Separate Account (with any federal income tax liability offset by foreign tax credits to the extent allowed); G-CDA(12/99)(WA) 7 3.07 3.08 3.09 d is the total value of the accumulation units and Ar Valuation Date; e is Separate Account daily charges for mortality an shown on Contract Schedule I under Daily Chai f is if applicable, a charge for the GET Fund guarar period. The charge, which is determined before shown on Contract Schedule I under Daily Chai The net return rate may be greater or less than zero pi Charges to the Separate Account units of the Separate Account on expense risk and a daily administrative .s to the Separate Account; and e, which is deducted daily during ,the g ie beginning of each offering period (s( ,s to the Separate Account. prior as 4.02), is During the Accumulation Phase, we may deduct a mortality and expense risk charge from the Individual Account value invested in the Separate Account. In addition, we reserve the right to impose an administrative charge. The charges' to the Separate Account are shown on Contract Schedule I under Daily Charges to the Separate Account and are deducted daily. Fund Transfers During the Accumulation Phase, any portion or all of the Individual Account value held in a Fund may be transferred to any other Fund or any available Fixed Interest Option. The Individual Account value will be based on the Fund's accumulation unit value next determined after we receive a transfer request in Good Order. I Withdrawals from the Separate Account If the Contract Holder or a Participant, as applicable, requests a partial or full withdrawal (see 8.02) from the Funds, a withdrawal charge may apply (see 8.04). Section 4. Voya GET Fund (GET Fund The following provisions apply if the GET Fund is available. 4.01 GET Fund Guarantee Period For each GET Fund series, the period for which the GET Fund guarantee applies. The guarantee period ends on the Maturity Date. 4.02 GET Fund Offering Period The period, usually from one to three months, during which the Contract Holder or a Participant ,as applicable, may transfer or allocate amounts to a GET Fund series. Each GET Fund series has a specific offering period. Amounts transferred or allocated prior to the date on which the guarantee period begins are invested in money market instruments. I We will specify a minimum total asset amount required at the end of an offering period to offer a GET Fund series. If the minimum is not achieved, we reserve the fright not to begin the guarantee period. If a GET Fund series is not begun, we will mail a notice to all Contract Holders or Participants, as applicable, who have made allocations to that GET Fund series no less' than 15 calendar days after the end of the offering period. The Contract Holder or a Participant, as applicable, then has 45 calendar days from .the end of the offering period to reallocate the amount allocated to the GET Fund to any other available Investment Options. During this time, GET Fund assets are invested in money market instruments. If the Contract Holder or a Participant, as applicable, makes no election by the end of the 45 -day period, at the'inext Valuation Date, we will allocate the amount in the terminated GET Fund series to the money market fund available under the Contract. G-CDA(12/99)(WA) 8 We reserve the right to specify a maximum total asset amount for a GET Fund series. If the maximum is achieved, we reserve the right to set a date on which we will stop accepting allocations for that GET Fund series. We will announce the date on which we will stop accepting transfers and allocations 10 calendar days prior to that date. 4.03 GET Fund Guarantee On the Maturity Date of each GET Fund series, the GET Fund accumulation unit value for that series will not be less than the GET Fund accumulation unit value determined at the close of business on the last day of the offering period. If necessary to offset any shortfall in the GET Fund accumulation unit value, we will transfer funds from our General Account to the Separate Account. The GET Fund guarantee does not apply to transfers or withdrawals made before the Maturity Date. If GET Fund accumulation units are adjusted at any time during the guarantee period, the GET Fund guarantee will be restated. We calculate the restated guarantee so that it is equivalent to the original guarantee for that GET Fund series. A daily charge is assessed on the amount, if any, allocated to the GET Fund. This charge for the GET Fund guarantee is shown on Contract Schedule I under Daily Charges to the Separate Account. 4.04 GET Fund Maturity Date The GET Fund Maturity Date is the date on which the guarantee period ends and GET Fund accumulation units are liquidated. Prior to the Maturity Date for each series, we send a written notice of the date to each Contract Holder or Participant, as applicable, who has an Individual Account value in that series. In response, the Contract Holder or Participant, as applicable, must tell us to which available Investment Options to transfer the amount in the GET Fund on the Maturity Date. If we do not receive instructions, on the Maturity Date we transfer the portion of the Individual Account value held in the GET Fund to another GET Fund series, if available. If no GET Fund series is available, we transfer the amount to the Fund or Funds we designate in the written notice. 4.05 Transfers or Withdrawals from the GET Fund Transfers or withdrawals from the GET Fund before the Maturity Date are based on the GET Fund unit value for the next Valuation Date following our receipt of the request in Good Order (see 8.01 and 8.02). Section 5. Fixed Account The following provisions apply if the Fixed Account is available as shown on Contract Schedule I under Fixed Interest Options Available. 5.01 Fixed Account Minimum Guaranteed Interest Rate The Fixed Account minimum guaranteed interest rate is shown on Contract: Schedule I under Fixed Account Minimum Guaranteed Interest Rate. Each calendar year, we will set an annual minimum guaranteed interest rate which will apply to all amounts held in the Fixed Account during the calendar year. The one year minimum guaranteed interest rate will be established prior to each calendar year and will be made available to the Contract Holder or Participants, as applicable, in advance of the calendar year. We, at our discretion, may credit a higher interest rate, which is not guaranteed; we will make the current rate, and the period for which it will be credited, available to the Contract Holder or Participants, as applicable. G-CDA(12/99)(WA) 9 5.02 Transfers from'the Fixed Account Each calendar year, the percentage shown on Contract Schedule I under Fixed Account Annual Transfer Limit of the amount in the Fixed Account may be transferred to any available Investment Options. The amount available for transfer will be based on the Individual Account value in the Fixed Account as of the date we receive the transfer request in Good Order at our Home Office. We may, on a temporary basis, allow transfer of a larger percentage. There is no limit on the amount that may be transferred to the Fixed Plus Account. 5.03 Withdrawals from the Fixed Account If the Contract Holder or a Participant, as applicable, requests a partial or full withdrawal (see 8.02) from the Fixed Account, a withdrawal charge may apply (see 8.04). Section 6. Fixed Plus Account The following provisions apply if the Fixed Plus Account is avai Interest Options Available. 6.01 Fixed Plus Account Minimum Guaranteed Interest The Fixed Plus Account minimum guaranteed interest Plus Account Minimum Guaranteed Interest Rate. as shown on Contract Schedule I under (Fixed is shown on Contract Schedule I u Each calendar year, we will set an annual minimum guaranteed interest rate which will apply to held in the Fixed Plus Account during the calendar year. The one year minimum guaranteed int be established prior to each calendar year and will be made available to the Contract Holder or as applicable, in advance of the calendar year. We, at our discretion, may credit a higher intere Which is not guaranteed; we will make the current rate, and the period for which it will be credit to the Contract Holder or Participants, as applicable. 6.02 Transfers from the Fixed Plus Account Fixed amounts st rate will rate, , available During each rolling 12 -month period, the percentage shown on Contract Schedule I under Fixed (Plus Account Annual Transfer and Partial Withdrawal Limit of the amount in the Fixed Plus Account may be transferred to any available Investment Option. The amount available for transfer is based on the Individual Account value in the Fixed Plus Account on the date we receive the transfer request in Good Order at our Home Office, reduced by any amount, withdrawn, transferred, taken as a loan (if allowed under the Contract) or used to purchase Annuity payments during the 12 months prior to the transfer request. In addition, we reserve the right to reduce the amount available for transfer by amounts withdrawn under a systematic we option. Twenty percent of the amount in the Fixed Plus Accou'I t may be transferred in each of four consecutive 12 months and the balance transferred in the fifth year subject to the following conditions: (a) During the five-year period, no additional amounts are allocated to or transferred from the Fixed Plus Account; (b) We will include any amount transferred, taken as a loan (if allowed under the Contract) or used to purchase, Annuity payments during the prior 12 -month period when calculating the amount which equals 20%; and (c) We reserve the right to include amounts paid u the amount which equals 20%. In addition, we reserve the right to waive the transfer Iii less than or equal to the amount shown on Contract Sc Transfer Limit. G-CDA(12/99)(WA) 10 a systematic distribution option when calculating when the amount in the Fixed Plus Account is dule I under Waiver of Fixed Plus Account i 6.03 Partial Withdrawals from the Fixed Plus Account During each rolling 12 -month period, the percentage shown on Contract Schedule I under Fixed Plus Account Annual Transfer and Partial Withdrawal Limit may be withdrawn from the Fixed Plus Account. The amount available for withdrawal is based on the Individual Account value in the Fixed Plus Account on the date we receive the withdrawal request in Good Order at our Home Office, reduced by any amount withdrawn, transferred, taken as a loan (if allowed under the Contract), or used to purchase Annuity payments during the 12 months prior to the request. In addition, we reserve the right to reduce the amount available by deducting any amount withdrawn under a systematic distribution option. The withdrawal limit does not apply when the partial withdrawal is: (a) Due to a Participant's death during the Accumulation Phase and is made within six months of the date of death (this exception applies to only one partial withdrawal); (b) Used to purchase Annuity payments; or (c) Due to other conditions as we may allow without discrimination. 6.04 Full Withdrawal of the Total Amount in the Fixed Plus Account The Contract Holder, or a Participant, as applicable, may withdraw the full amount held in. the Fixed Plus Account. When we receive a request for a full withdrawal, no additional transfers, partial withdrawals or loans (if allowed under the Contract) are allowed. The withdrawal will be made as follows: (a) One-fifth of the Individual Account value in the Fixed Plus Account as of the date we receive the withdrawal request in Good Order at our Home Office reduced by the amount, if any, transferred, withdrawn, taken as a loan (if allowed under the contract) or used to purchase Annuity payments during the prior 12 months; then (b) One-fourth of the remaining amount 12 months later; then (c) One-third of the remaining amount 12 months later; then (d) One-half of the remaining amount 12 months later; then (e) The balance of the Individual Account value in the Fixed Plus Account 12 months later. No withdrawal charge applies to amounts withdrawn. The Contract Holder or Participant, as applicable, may cancel a full withdrawal request from the Fixed Plus Account at any time. 6.05 Waiver of Fixed Plus Account Full Withdrawal Provision When a full withdrawal is requested, payment from the Fixed Plus Account is not limited as described in 6.04 when the withdrawal is as noted on Contract Schedule I under Waiver of Fixed Plus Full Withdrawal Provision. Section 7. Guaranteed Accumulation Account (GAA) The following provisions apply if the Guaranteed Accumulation Account is available as shown on Contract Schedule I under Fixed Interest Options Available. 7.01 Nonunitized Separate Account The Nonunitized Separate Account is established under Title 38a, Section 38a-433 of the Connecticut General Statutes. There are no discrete units for this account. We own the assets held in the Nonunitized Separate Account; we are, not a trustee of those assets. The Contract Holder or Participant does not participate in the investment gain or loss from assets held in the Nonunitized Separate Account. Such gain or loss is borne entirely by us. income, gains or losses, realized or unrealized, are credited to or charged against the Nonunitized Separate Account without regard to our other income, gains or losses. Nonunitized Separate Account assets, ;to the extent of reserves and other Contract liabilities, cannot be charged with liabilities arising out of any, other business we conduct. G-CDA(12/99)(WA) 11 7.02 GAA Minimum Guaranteed Interest Rate All Contributions allocated to a GAA guaranteed term (see 7.04) earn a rate of interest which we determine and which is guaranteed when the Contribution remains in the guaranteed term until the Maturity Date. The rate credited will never be less than the minimum interest rate shown on Contract Schedule I under Guaranteed Accumulation Account Minimum Guaranteed Interest Rate. For guaranteed terms of one year or less, one guarantl ed rate is credited for the full guaranteed term. For longer guaranteed terms, we may credit an initial guaranteed interest rate from the date of deposit to the end of a specified period within the guaranteed term. We may credit different interest rates for subsequent specified periods throughout the guaranteed term. 7.03 Deposit Period A deposit period is the period of time we determine during which we accept allocations (Contributions, transfers, or reinvestments) to one or more guaranteed terms. We reserve the right to extend the deposit period. 7.04 Guaranteed Term A guaranteed term is the period of time for which we g'ivarantee the declared interest rate for allocations (Contributions, transfers, or reinvestments) to GAA guaranteed terms. We may offer guaranteed terms ranging in duration from one to ten years. During each deposit period, we may offer more than one guaranteed term of varying lengths.. The guaranteed term begins the day after the deposit period ends. The Contract Holder or a Participant, as applicable, may allocate Contributions or transfers to any or all guaranteed terms available in the current deposit period. 7.05 Guaranteed Term Groups A guaranteed term group is comprised of all GAA guaranteed terms of the same duration. 7.06 Maturity Date, Maturity Value and Reinvestment The Maturity Date is the last day of a guaranteed term. The maturity value is the amount we pay at the end of a guaranteed term. At least 18 calendar days before any guaranteed term Maturity Date, we notify the Contract Holder or a Participant, as applicable, of the projected maturity value and the guaranteed terms (and the guaranteed interest rates for each) available during the then -current deposit period. The Contract Holder, or a Participant, as applicable, may then tell us how to allocate the maturity value. If the Contract Holder or a Participant, as applicable, does not tell us how to reinvest the maturity value, we reinvest it in a guaranteed term of the same duration if one is available. If no guaranteed term of the same duration is available, we reinvest the maturity value in the guaranteed term with the next shortest duration. I no shorter guaranteed term is available, we reinvest the maturity value in the next longest term. (We mail a confirmation of reinvestment. The confirmation includes the guaranteed term in which we have reinvested the maturity value and the guaranteed interest rate for that term. If we have reinvested the maturity value, during the month following the Maturity Date, the Co or a Participant, as applicable, may transfer or withdraw the reinvested amount, with interest E the date we receive the request) without incurring a market value adjustment (see 7.08). 7.07 Transfers and Withdrawals from the GAA Except as noted below, the Contract Holder or a Participant, as applicable, may transfer any poi the amount held in the GAA. Transfers or withdrawals before the Maturity Date may be subject value adjustment (see 7.08). Amounts invested in a guaranteed term may not be transferred dui deposit period or for a period of 90 calendar days afte(the close of the deposit period. G-CDA(12/99)(WA) 12 Holder (as of ion or all of ) a market ng the 1 Unless directed otherwise, ;when the Contract Holder or a Participant, as applicable, requests a transfer or withdrawal from the GAA, we withdraw amounts proportionately from each guaranteed term in which the Individual Account is invested. Within a guaranteed term group, we withdraw first from the oldest deposit period and then from the next oldest and so on until the amount requested is withdrawn. 7.08 Application of the Market Value Adjustment Transfers or withdrawals from the GAA before the Maturity Date are subject to a market value adjustment, except for: (a) A one-month period. following the Maturity Date on which we have automatically reinvested the value on the Maturity Date; (b) Distributions under certain systematic distribution options; and (c) When the withdrawal is equal to the minimum distribution amount required under the Code, using a method permitted by the Code and which. we offer. For withdrawals and transfers from the GAA made (1) within six months of a Participant's death; or (2) to purchase Annuity payments under a life -contingent Annuity option, the amount withdrawn from the GAA is the greater of: (a) The aggregate market value adjustment amount which is the sum of all market value adjusted amounts calculated due to a withdrawal before the Maturity Date (which may be positive or negative); or (b) The amount in the GAA. For withdrawals made after the six month period following death, the withdrawal or transfer amount is the aggregate MVA amount. , A MVA applies to amounts withdrawn to purchase Annuity payment under a period certain Annuity option. We may change the GAA market value adjustment by notifying the Contract Holder in writing at least 90 calendar days before the change becomes effective. Any such change will apply only to guaranteed terms offered in deposit periods after the date the change becomes effective and will apply to existing and new Individual Accounts. 7.09 Market Value Adjustment (MVA) The market value adjustment reflects any change in yields on U.S. Treasury Notes from the time an amount is allocated to a GAA guaranteed term to the time of a transfer or withdrawal prior to the Maturity Date. When the market value adjustment is applied, the amount transferred or withdrawn from the GAA is multiplied by a factor which is calculated as follows: Where: i is the deposit period yield j is the current yield x is the number of days remaining (computed from Wednesday of the week of withdrawal) in the guaranteed term. G-CDA(12/99)(WA) 13 The deposit period yield and the current yield are Deposit Period Yield At the close of the last business day of each u the average of the yields on U.S. Treasury No guaranteed term. The deposit period yield is tl withdrawal is made prior to the close of the dE the yields of U.S. Treasury Notes for each we Treasury Notes will mature in the last three m use the U.S. Treasury Notes that mature in a ined as follows: ek of a deposit period, we compute a yi s which mature in the last three months) average of those yields for the deposit )sit period, the deposit period yield is th preceding the withdrawal. In the event the of the guaranteed term, we reserve Ilowing quarter. Current Yield The Current Yield is the average of the yields of the same U.S. Treasury Notes used to the deposit period yield on the last business day of the week preceding withdrawal. Section 8. Transfers, Withdrawals and Distributio 8.01 Transfers �Id that is of the )eriod. If a average of hat no U.S. rhe right to calculate During the Accumulation Phase, the Contract Holder or a Participant, as applicable, may transfer all or any portion of the Individual Account value among the available Investment Options. The Individual Account value on any amount transferred from a Fund will be bused on the Fund's accumulation unit value next determined after we receive the transfer request in Good Order at our Home Office. The Contract Holder or a Participant, as applicable, maty request a transfer by properly completing a transfer request form and sending it to our Home Office, or by otherwise complying with our administrative procedures. We reserve the right to establish a minimum transfer amount. 8.02 Withdrawals As allowed by the Plan, if applicable, and subject to provisions of the Code (see 8.03), during the Accumulation Phase, the Contract Holder or a Participant, as applicable, may withdraw any portion or all of the Individual Account value. For Code Section 403(b) Plans, the Contract Holder or a Participa n', t, as applicable, may transfer the amount withdrawn to another investment provider under the Plan ori roll over such amount that qualifies as an eligible rollover distribution in accordance with Code Sections 403(b)(8), 401(a)(31) and 402(c) and applicable regulations. The Individual Account value of any amount withdrawn from a Fund will be based on the Fund's accumulation unit value next determined after we receive the transfer request in Good Order. The Contract Holder or a Participant, as applicable, may request a withdrawal by properly completing a withdrawal request form and forwarding it to our Home Office, or by otherwise complying with our administrative procedures. Unless the Contract Holder or a Participant, as applicable, requests otherwise, the withdrawal will be made proportionately from the Investment Options in which the Individual Account is invested. A withdrawal charge may apply to amounts withdrawn (see 8.04). In addition, a market value adjustment may apply to amounts withdrawn from the GAA (see 7.08 and 7.09) and limitations may apply to withdrawals from the Fixed Plus Account (see 6.04). 8.03 Withdrawal Restrictions Under the Code The Code may impose restrictions on the amount and timing of withdrawals. The restrictions applicable to this Contract are shown on Contract Schedule I under Withdrawal Restrictions Under the Code.IWithdrawE that do not comply with the Code may be subject to tax penalties. G-CDA(12/99)(WA) 14 8.04 Withdrawal Charge During the Accumulation Phase, we may deduct a withdrawal charge from the Individual Account value withdrawn. The charge, if any, is a percentage of the amount withdrawn from the Funds and/or Fixed Interest Options (except, if applicable, the Fixed Plus Account). The withdrawal charge will never exceed 8.5% of the total amount of Contributions, or the maximum permitted by National Association of Securities Dealers, Inc. (NASD) rules. The withdrawal charge, if any, is shown on Contract Schedule I under Withdrawal Charge. 8.05 Waiver of Withdrawal Charge The withdrawal charge (see 8.04) does not apply in any of the circumstances shown on Contract Schedule I under Waiver of Withdrawal Charge. In addition, we reserve the right to reduce, waive or eliminate the withdrawal charge. 8.06 Reinstatement Within 30 calendar days after a withdrawal, the Contract Holder or a Participant, as applicable may elect to reinstate all or a portion of the proceeds of a full withdrawal if allowed by applicable law. We must receive the reinstated amount within 60 calendar days of the withdrawal. Any maintenance fee and withdrawal charge imposed at the time of the withdrawal is included in the reinstatement. If only a portion of the amount withdrawn is reinstated, the arnount of any maintenance fee and withdrawal charge deducted will be restored proportionally. The amount of any market value adjustment deducted from any amount withdrawn from GAA is not included in the amount reinstated. Any amount reinstated to the GAA will be credited to guaranteed terms available in the current deposit period. We will reinvest it in a guaranteed term of the same duration if one is available. If no guaranteed term_ of the same duration is available, we reinvest the maturity value in the guaranteed term with the next shortest duration. If no shorter guaranteed term is available, we reinvest the maturity value in the next longest term. Amounts withdrawn from a GET Fund series are reinstated to the current offering period if one is available. If no GET Fund offering period is available, any amount withdrawn from the GET Fund is reinstated equally among all other Investment Options in which the Individual Account is invested. Amounts are reinstated among the Investment Options in the same proportion as they were held at the time of withdrawal, except, as noted above, for amounts from the GET Fund. Any maintenance fee which falls due after the withdrawal and before the reinstatement is deducted from the amount reinstated. The number of accumulation units reinstated to any Fund is based on the accumulation unit values next computed after we receive the reinstatement request in Good Order at our Home Office. Reinstatement is permitted only once. 8.07 Required Distributions While an Individual Account remains in the Accumulation Phase, the Code may require distribution of all or a portion of the Individual Account value. The Contract Holder, a Participant or Contract beneficiary, as applicable, must tell us when to begin distributions. We have no responsibility for adverse tax consequences as the result of the Contract Holder, Participant or Contract beneficiary, as applicable, not complying with minimum distribution requirements. The distribution requirements, if any, are shown on Contract Schedule I under Required Distributions. Generally, to meet distribution requirements, the Contract Holder, a Participant or Contract beneficiary, as applicable, may request partial withdrawals, a systematic distribution option (see 8.08) or an Annuity option. G-CDA(12/99)(WA) 15 8.08 Systematic Distribution Options (SDOs) During the Accumulation Phase, we may offer one or 'more distribution options under which we make regularly scheduled automatic partial distributions of the Individual Account value. To request a SDO, the Contract Holder, a Participant or Contract beneficiary, s applicable, must complete a SDO elecition form and forward it to our Home Office. Each option is available without discrimination to any class of Contracts. The availability of any specific option may be subject to terms and conditions applicable to that option. We may discontinue the availability of a SDO option for future election. Payments will, however, continue to Participants who elected the option before the date it is no longer available. 8.09 Individual Account Termination If the Individual Account value is an amount equal to c under Individual Account Termination Amount and we reserve the right to terminate an Individual Account. E Participant, as applicable, 90 calendar days in advanc not deduct a withdrawal charge. We do not exercise t or less than the amount shown on Contract Schedule investment performance. Section 9. Loans 9.01 Loan Availability Contract Schedule I indicates whether loans are endorsement is included as part of this Contract. Section 10. Death Benefit During the Accumul 10.01 Death Benefit less than the amount shown on Contract Schedule ave received no Contributions for 12 months, we ore we do this, we notify the Contract Holder or When we terminate an Individual Account, we do right when the Individual Account value is equal to, under Individual Account Termination Amount due to .under this Contract. If available, a I Phase If a Participant dies during the Accumulation Phase, we pay a death benefit. The amount of the death benefit is the Individual Account value as of the next Valuation Date following our receipt of acceptable proof of death at our Home Office (see 7.08 for amounts in the GAA). 10.02 Contract Beneficiary The Contract beneficiary is shown on Contract Schedule I under Contract beneficiary. Generally, the Participant may name a beneficiary under the Plan (the Plan beneficiary). If allowed by the Plan, when designating the beneficiary, the Contract Holder or a Participant, as applicable, may specify, the form of payment as permitted by the Code. The Contract beneficiary and the form of payment, if applicable, may be designated or changed in writing or as we may otherwise allow in our administrative procedures! 10.03 Distribution of Death Benefit Generally, if the Plan beneficiary is the Participant's surviving spouse, distribution of the death benefit must begin no later than the year the Participant would have attained age 70 1/2 or any other date allowed under federal law or regulations. If the Plan beneficiary is not the Participant's surviving spouse, generally, the death benefit must be used to purchase Annuity payments within one year of the year of the Participant's death or otherwise paid within five years of the year of the Participant's death. I Annuity payments to a Plan beneficiary may not G-CDA(12/99)(WA) 16 beyond the period specified in the Part II. Annuity Phase Section 11. General Provisions 11.01 Election The Contract Holder, a Participant, or Contract or Plan beneficiary, as applicable, may elect an Annuity option by properly completing an election form and forwarding it to our Home Office no later than 30 calendar days before the desired first Annuity payment date. All Annuity option elections must comply with any Plan requirements and regulatory requirements including the Code minimum distribution requirements. All or any portion of the Individual Account value (after the deduction of any applicable premium tax) may be used to purchase Annuity payments (for amounts from the GAA, see 7.08). The Contract Holder, a Participant, or Contract or Plan beneficiary, as applicable, must also select an Annuity option (see 11.03) and the Investment Options (see 11.06). Once payments begin, an Annuity option may not be revoked, nor may any amount be withdrawn except as noted .below. 11.02 Change of Annuity Provisions We reserve the right to change or eliminate Annuity options (see 11.03) and to change the mortality table (see 11.04) we use to calculate payment rates for life -contingent Annuity payments. If we do this, any change will not take effect until at least 12 months after the Contract Effective Date, or until at least 12 months after any previous change. A change to Annuity options or the mortality table used to calculate payment rates will not apply to Individual Accounts established before the date the change becomes effective. 11.03 Annuity Options The Contract Holder, a Participant, or Contract or Plan beneficiary, as applicable, must elect one of the following: Option 1: Payments for a Stated Period. This option provides payments for a stated period. The number of years in the stated period must fall within the range shown on Contract Schedule II under Payment Period. If payments for this option are under a Variable Annuity, the present value of any remaining payments may be withdrawn at any time. If a withdrawal is requested within five years of the first payment, the lump -sum payment is treated as a withdrawal during the Accumulation Phase and any applicable withdrawal charge applies (see 8.04). If the payments are fixed -only, an annual increase of one, two or three percent (compounded annually) may be elected at the time the Annuity option is chosen (if permitted by the Code). Option 2: Life Income for One Annuitant This option provides payments for the life of the Annuitant. If this option is elected, the Contract Holder, a Participant, or Contract or Plan beneficiary„ as applicable, must also choose one of the following: (a) Payments cease at the death of the Annuitant; or (b) Payments are guaranteed for a period within the range shown on Contract Schedule II under Payment Period; or (c) Fixed -only cash refund: at the death of the Annuitant, the beneficiary receives a lump -sum payment in an amount equal to the amount applied to the Annuity (minus any applicable premium tax), minus the amount of payments made to the Annuitant. Under (a) or (b), if the payments are fixed -only, an annual increase of one, two or three percent (compounded annually) may be elected at the time the Annuity option is chosen (if permitted by the Code). G-CDA(12/99)(WA) 17 Option 3: Life Income for Two Annuitants This option provides payments for the lives of the Annuitant and a second Annuitant. Payments until both Annuitants have died. If this option is elected, the Contract Holder, a Participant, or C( Plan beneficiary as applicable, must also choose one of the following: (a) 100% of the payment amount to continue after (b) 66 2/3% of the payment amount to continue of (c) 50% of the payment amount to continue after 1 (d) 100% of the payment amount to continue after beneficiary after the second death for a period Payment Period; or first death; or the first death; or first death; or ue or first death with payments guaranteedlto the n the range shown on Contract Schedule Il under (e) 100% of the payment amount to continue at the death of the specified second Ann the payment amount to continue at the death of the specified Annuitant; or (f) 100% of the fixed -only payment amount to continue after the first death with a cash refur Contract beneficiary after the second death. The amount of the cash refund is equal to tl applied to the Annuity (minus any applicable premium tax), minus the amount of paymen Under (a) or (d), if the payments are fixed -only, an annual increase of one, two or three percent (compounded annually) may be elected at the time the Annuity option is chosen (if permitted by Other Options As allowed under applicable state law, we reserve the 11.04 Mortality Table The mortality table for this Contract is shown on 11.05 Payments to make other options available. Schedule II under Mortality Table. The first payment amount must be at least $50 per month or $250 per year. We reserve the increase the minimum first payment amount, if allowed by state law, based on increases refl Consumer Price Index -Urban (CPI -U) since July 1, 1993. and 50% of d to the E) amount made. the Code). to in the To calculate the first payment of a variable Annuity or the guaranteed payments for a fixed Annuity, we will use the Annuitant's adjusted age and, if applicable, the second Annuitant's adjusted age. The A i nuitant's adjusted age and, if applicable, the second Annuitant's adjusted age is the person's age as of the birthday closest to the day Annuity payments begin, reduced asj follows: (a) Reduced by one year for payments before January 1, 2000; (b) Reduced by two years for payments beginning during the period from January 1, 2000 through December 31, 2009; (c) Starting on January 1, 2010, reduced by one additional year for payments beginning in each succeeding decade. If a fixed Annuity is elected, we will use the applicable current settlement option rates if they will provide higher fixed Annuity payments. 11.06 Investment Options When an Annuity option is elected, the Contract Holder, a Participant, or Contract or Plan beneficiary, as applicable, must elect: (a) A fixed Annuity for which the underlying investment is our General Account; SII G-CDA(12/99)(WA) 18 (b) A variable Annuity for which the underlying investment is one or more of the available Funds; or (c) A combination of (a) and (b). For a variable Annuity, the maximum number of Funds available during the Annuity Phase is shown on Contract Schedule II under Maximum Number of Funds. The Funds available during the Annuity Phase might not be the same as those available during the Accumulation Phase. 11.07 Fixed Annuity Minimum Guaranteed Interest Rate For a fixed Annuity, the interest rate will never be less than the minimum guaranteed rate shown'on Contract Schedule II under Fixed Annuity Minimum Guaranteed Interest Rate. 11.08 Variable Annuity Assumed Annual Net Return Rate Election If a variable Annuity is elected, the Contract Holder, or Participant, as applicable must also elect an assumed annual net return rate of 3.5% or 5%. The initial Annuity payment for the option elected will reflect the assumed annual net return rate. If subsequent Annuity payments are to remain level, the Separate Account must earn this rate, plus enough to cover the mortality and expense risk charge shown on Contract Schedule II under Daily Charges to the Separate Account plus any applicable administrative charge. 11.09 Variable Annuity Transfers If a variable Annuity is elected, the Contract Holder, a Participant, or Contract or Plan beneficiary, as applicable, may request that we transfer all or a portion of the amount allocated to a Fund to any other available Fund. Transfer requests must be expressed as a percentage of the allocation among the Funds on which the variable payment is based. The number of transfers allowed each calendar year is shown on Contract Schedule II under Number of Annual Transfers Among Funds. We reserve the right to allow additional transfers. Transfers are effective as of the next Valuation Date following our receipt of a transfer request in Good Order at our Home Office. 11.10 Fund Annuity Units The number of Fund Annuity units is based on the amount of the first variable Annuity payment which is equal to: (a) The portion of the Individual Account value (minus any applicable premium tax) used to purchase a variable Annuity; divided by (b) One thousand; multiplied by (c) The payment rate for the option chosen. Such amount, or portion of the variable payment will be divided by the appropriate Fund's, or Funds', Annuity unit value (see 11.11) on the tenth Valuation Date before the due date of the first payment to determine the number of Fund Annuity units. The number of each Fund's Annuity units remains fixed unless changed by a subsequent Fund transfer or if the Annuity option provides for a change in units (i.e., under life income for two annuitants option after the first death). Each future payment is equal to the sum of the products of each Fund's Annuity unit value multiplied by the appropriate number of units. The Fund Annuity unit value on the tenth Valuation Date before the payment due date is used. 11.11 Fund Annuity Unit Value For. any Valuation Date, a Fund's Annuity unit value is equal to: (a) The Annuity unit value for the prior Valuation Date; multiplied by (b) The Annuity unit net return factor (see 11.12) for the current Valuation Date; multiplied by (c) A factor to reflect the assumed annual net return rate. The factor for an assumed annual net return rate of 5% is 0.9998663; for 3.5% it is 0.9999058. G-CDA(12/99)(WA) 19 11.12 The dollar value of a Fund Annuity unit and the amount of a variable Annuity payment may increase or decrease due to investment gain or loss. We will not change the payment amount due to changes in mortality, expense results, or the administrative charge' i Fund Annuity Net Return Factor I The Annuity net return factor(s) are used to compute aII variable Annuity payments for any Fund. The net return factor(s) for each Fund is equal to 1.0000000 plus the net return rate. The net return rate equals: [a - b - c] ------------- - e d Where: a is the value of the shares of the Fund held by the Separate Account on the current Valuation Date; b is the value of the shares of the Fund held by the (Separate Account on the prior Valuation Date; c is taxes or provisions for taxes, if any, on the Separate Account (with any federal income tax liability offset by foreign tax credits to the extent allowed); I d is the total value of the accumulation units and Annuity units of the Separate Account on the prior Valuation Date; e is Separate Account daily charges for mortality anld expense risk and a daily administrative !charge as shown on Contract Schedule II under Daily Charges to the Separate Account. A net return rate may be more or less than 0%. The value of a share of a Fund is equal to the ret assets of the fund divided by the number of shares outstanding.' 11.13 Death Benefit During the Annuity Phase The Contract Holder or a Participant, as applicable, must name a beneficiary for the Annuity Phase. Unless not allowed by the Plan, or restricted by the Contract Holder, or a Participant, as applicable, the beneficiary may name a beneficiary. I If an Annuitant(s) dies, any remaining guaranteed payments continue to the beneficiary. Payme at least as rapidly as provided by the option in effect at the death of the Annuitant. Annuity pay beneficiary may not extend beyond (1) the life of the beneficiary, or (2) any period certain great beneficiary's life expectancy as determined by the Code. The beneficiary may also elect a lump -sum payment equal to the present value of any remainir The interest rate used to determine the first Annuity payment is used to calculate the present v present value is determined as of the next Valuation Date following our receipt of acceptable pi and a written claim for the death benefit. Unless not allowed by the Plan or restricted by the Contract Holder, or a Participant, as applice beneficiary dies while receiving payments, the present value of any remaining guaranteed payn in a lump -sum to the beneficiary's beneficiary or to the' beneficiary's estate. :s are made ents to a r than the payments. ae. The if of death e, if the nts is paid 11.14 Charges to the Separate Account During the Annuity Phase, we may deduct a mortality and expense risk charge from the Individual Account value invested in the Separate Account. In addition, we, reserve the right to impose an administrative charge. The maximum charges to the Separate Account are shown on Contract Schedule II under Daily (Charges to the Separate Account. If applicable, the charges are deducted daily. G-CDA(12/99)(WA) 20 OPTION 1: Payments for a Stated Period Monthly Amount for Each $1,000* Rates for a Fixed Annuity with a 3% Guaranteed Interest Rate Years Payment Years Payment 5 $17.91 20 $5.51 10 9.61 25 4.71 15 6.87 30 4.18 First Monthly Amount for Each $1,000* Rates for a Variable Annuity with a 3.5% Assumed Interest Rate (AIR) Years Payment Years Payment 5 $18.12 20 $5.75 10 9.83 25 4.96 15 7.10 30 4.45 First Monthly Amount for Each $1,000* Rates for a Variable Annuity with a 5% Assumed Interest Rate (AIR) Years Payment Years Payment 5 $18.74 20 $6.51 10 10.51 25 5.76 15 7.82 30 5.28 * Net of any applicable premium tax deduction G-CDA(12/99)(WA) 21 Option 2: Life Income for One Annuitant i Monthly Payment Amount for Each $1,000* Rates for a Fixed Annuity Payment with 3% Guaranteed Interest Rate 1 I Option 2(a): Option 2(b): Option 2(b): Option 2(b): Option 2(b): 0`ption 2(c): Adjusted payments for payments payments payments payments Cash Refund Age of life guaranteed guaranteed ! guaranteed guaranteed 15 years 5 years Annuitant 15 years 5 years 10 years 15 years 20 years $4.71 $4.67 55 $4.44 $4.42 $4.39 $4.32 $4.22 5.13 $4.19 60 4.95 4.93 4.86 4.73 4.55 5.48 4.57 65 5.65 5.61 5.47 5.22 4.89 5.43 5.06 66 5.82 5.77 5.61 5.33 4.96 5.18 70 6.64 6.54 6.23 5.76 5.19 5.70 75 8.06 7.82 7.14 6.25 5.38 6.51 First Monthly Payment Amount Ifor Each $1,000* Rates for a Variable Annuity Payment with 3.5% Assumed Interest Rate 1 I Option 2(a): Option 2(b): Option 2(b): Option 2(b): Option 2(b): Adjusted Adjusted payments for payments payments payments payments life Age of life guaranteed guaranteed guaranteed guaranteed 5 years Annuitant 15 years 5 years 10, years 15 years 20 years $5.56 55 $4.72 $4.71 $4.67 $4.60 $4.50 5.85 60 5.23 5.21 5.13 5.00 4.82 5.95 65 5.94 5.89 5.73 5.48 5.15 75 70 6.92 6.81 6.49 6.00 5.43 75 8.35 8.08 7.38 6.48 5.62 First Monthly Payment Amount for Each $1,000* Rates for a Variable Annuity Payment with) 5% Assumed Interest Rate 1 I Option 2(a): Option 2(b): Option 2(b): Option 2(b): Option 2(b): Adjusted payments for payments payments payments payments Age of life guaranteed guaranteed guaranteed guaranteed Annuitant 5 years 10, years 15 years 20 years 55 $5.63 $5.61 $5.56 $5.47 $5.36 60 6.12 6.09 6.00 5.85 5.65 j 65 6.82 6.75 6.57 6.30 5.95 70 7.80 7.67 7.30 6.78 6.21 75 1 9.23 8.93 1 8.16 7.23 1 6.38 * Net of any applicable premium tax deduction Rates are based on mortality from 1983 Table ia. The rates do not differ by sex. Rates for ages not shown will be provided on request and will be computed on a basis consistent with the rates in the above tables. G-CDA(12/99)(WA) 22 Option 3: Life Income for Two Annuitants First Monthly Payment Amount for Each $1,000* Rates for a Fixed Annuity Payment with 3.0% Guaranteed Interest Rate Adjusted Ages payments guaranteed Primary Primary Secondary 10 years 10 years Annuitant Annuitant Annuitant Annuitant Option 3(a) Option 3(b) Option 3(c) Option 3(d) Option 3(e) Option 3(f) 55 50 $3.69 $4.05 $4.27 $3.69 $4.03 $3.67 55 60 3.99 4.44 4.71 3.98 4.20 3.94 65 60 4.38 4.97 5.32 4.38 4.93 4.29 65 70 4.93 5.68 6.15 4.91 5.27 4.74 75 70 5.69 6.68 7.32 5.62 6.67 5.29 75 80 6.78 8.11 8.99 6.54 7.36 5.93 First Monthly Payment Amount for Each $1,000* Rates for a Variable Annuity Payment with 3.5% Assumed Interest Rate Adjusted Ages payments guaranteed Primary Secondary 10 years Annuitant Annuitant Option 3(a) Option 3(b) Option 3(c) Option 3(d) Option 3(e) 55 50 $3.97 $4.35 $4.56 $3.97 $4.31 55 60 4.27 4.73 5.00 4.26 4.48 65 60 4.66 5.25 5.61 4.65 5.22 65 70 5.19 5.97 6.44 5.17 5.54 75 70 5.95 6.96 7.61 5.87 6.95 75 80 7.04 8.39 9.29 6.79 7.64 First Monthly Payment Amount for Each $1,000* Rates for a Variable Annuity Payment with 5% Assumed Interest Rate. Adjusted Ages payments guaranteed Primary Secondary 10 years Annuitant Annuitant Option 3(a) Option 3(b) Option 3(c) Option 3(d) Option 3(e) 55 50 $4.88 $5.26 $5.48 $4.88 $5.23 55 60 5.15 5.63 5.91 5.14 5.38 65 60 5.52 6.14 6.51 5.51 6.10 65 70 6.04 6.84 7.34 6.00 6.41 75 70 6.77 7.84 8.51 6.68 7.81 75 80 7.86 9.28 10.20 7.57 8.49 Net of any applicable premium tax deduction Rates are based on mortality from 1983 Table a. The rates do not differ by sex. Rates for ages not shown will be provided on request and will be computed on a basis consistent with the rates in the above tables. G-CDA(12/99)(WA) 23 Voya Retirement Insurance and Annuity Company ENDORSEMENT In order to reflect amendments to the Internal Revenue Code ("Code") made pursuant to the Small Business Jobs Act of 2010, the Contract is hereby amended by this Endorsement. This Endorsement is part of the Contract to which it is attached. The provisions of this Endorsement supersede any conflicting provisions in the Contract or in any prior endorsements. The purpose of this Endorsement is to amend the Contract to permit Roth after-tax contributions as described in the Code (as amended), if permitted under a Governmental 457(b) program for which this Contract is issued. A Participant Roth Account is added to the Contract as follows: Participant Roth Account - This account will be credited with Net Purchase Payments (or, if applicable, Net Deposits, Net Contributions or Contributions) that represent participant Roth after-tax salary reduction amounts pursuant to Code Section 402A, if any, and the portion of any transfer or rollover. (which may include distributions from a Participant's plan account that is rolled over to the Participant's designated Roth account in the same plan) attributable to such amounts. The description of Individual Account or Participant Account, if it appears in the Contract to which this Endorsement is attached, is amended to include the Participant Roth Account as described in this paragraph. Maintenance Fee/Participant Account Charge (whichever is applicable, if any.) (may also be referred to as a charge assessed on each anniversary of the Individual Account effective date): We may deduct all or a portion of the Maintenance Fee or Participant Account Charge applicable to the Contract, if any, from the Participant Roth Account. Withdrawal Charges (Surrender Fees) if any: For purposes of the following provision, the term "withdrawal charge" refers to "withdrawal charge" or "surrender fee" as those terms are used in the Contract: Except as provided below, any withdrawal charge specified in the Contract that is applicable to a withdrawal of amounts attributable to a lump sum payment or an installment payment will apply in the same manner to a withdrawal of amounts attributable to the :same type of payment made to a Participant Roth Account. In the case of a withdrawal charge for a participant installment account that is based on the number of Purchase Payment Cycles or Deposit Cycles (Cycles) completed, the number of Cycles completed for the Participant Roth Account will be determined independently from the number of Cycles completed for any other participant installment account of the participant, with the following exception. At the time we first establish a Participant Roth Account or any other participant installment account for a participant, we will credit the new participant installment account with the same number of Purchase Payments or Deposits as were made, if any, to the existing participant installment account with the greatest number of Purchase Payments or Deposits. After the new participant installment account is established under this paragraph, the number of additional Cycles credited from that point forward to a participant installment account will be based solely on the number of subsequent Purchase Payments or Deposits, if any, made to that particular participant installment account. This could result in a different number of Cycles completed for each participant installment account. The statement below is added to Contribution Limits, as endorsed: Pre-tax salary reduction contributions and Roth after-tax salary reduction contributions are aggregated for purposes of applying the applicable dollar amount permitted under Code Sections 415 and 457, as applicable. E -R0457-11 The description of Loans is amended as follows: Unless specifically permitted by the terms of a plan and supported by the plan's administrator and record keeper, a loan is not available from the Participant Roth Account. Absent such an exception, thi's rneans that although the Participant Roth Account may be included in the calculation of the amount available for loan ("lienable"), money from the Participant Roth Account may not be part of a loan ("loanable"). Accordingly, the amount available for a full or partial withdrawal from a Participant Roth Account will not be reduced by any outstanding loan balance. Further, in the event of a loan default, no amount of the outstanding loan balance will be deducted from the Participant Roth Account. The effective date of this Endorsement is the latest of January 1, Contract, or on the effective date of the Contract. Presi E -R0457-11 2 11, the date the Endorsement is attached to the �6t Retirement Insurance and Annuity Voya Retirement Insurance and Annuity Company ENDORSEMENT The Contract and Certificate, if applicable, are hereby endorsed as follows: For all loans effective on and after January 1, 2004: We reserve the right not to grant a loan request if the Participant has an outstanding loan in default. Endorsed and made part of the Contract and Certificate, if applicable, on the effective date of the Contract. President Voya Retirement Insurance and Annuity Company E-LNDFLT(1/04) Voya Retirement Insurance and Annuity Company ENDORSEMENT This Contract, and the Certificate, if applicable, are endorsed as shown below. This endorsement applies to Individual Accounts established under an Exchanged Contract. An Exchanged Contract is a Company contract (other than this Contract) that was issued prior to the Contract Effective Date and from which Individual Account values may be transferred to this Contract. For an Individual Account established under an Exchanged Contract, any amount allocated to the Fixed Plus Account after the Contract Effective Date will be subject to the Fixed Plus Account provisions stated in this Contract except as provided below. For amounts held in the Fixed Plus Account under the previous Company contract, the amount, if any, transferred to the Fixed Plus Account under this Contract will be subject to the Fixed Plus Account provisions of the previous contract unless the Contract Holder or Participant, as applicable, elects to have the provisions of this Contract apply. The election must be in writing or as otherwise allowed under our administrative practices during the three months beginning on the Contract Effective Date. Such an election cannot be revoked. Endorsed and made part of this Contract, and the Certificate, if applicable, on the Effective Date of the Contract and Certificate. 0G6t President Voya Retirement Insurance and Annuity Company E-MMFPEX-99R Voya Retirement Insurance and Annuity Company ENDORSEMENT In order to reflect amendments to the Internal Revenue Code made pursuant to the Economic Growth and Tax Relief Reconciliation Act of 2001 ("EGTRRA"), the Contract and, if applicable, the Certificate are amended in the following manner: A. Where the Contract and Certificate, if applicable, are issued in connection with a Section 403(b) tax deferred annuity arrangement, then: Contribution Limits. References to contribution limits are deleted and replaced with the following: Contributions to the Contract for any tax limitation year are limited to the amount set forth in Code Section 415, generally, 100% of compensation up to $40,000 (as may be adjusted by law or by the Secretary of the Treasury). In addition, except to the extent of any alternative limitation permitted under Code Section 402(g)(7), salary reduction contributions may not exceed the applicable dollar amount permitted under Code Section 402(g)(1) as follows: For taxable years beginning in: 2002 2003 2004 2005 2006 2007 and thereafter. The applicable dollar amount is: $ 11,000 $ 12,000 $ 13,000 $ 14,000 $ 15,000 $ 15,000 as adjusted by the Secretary of the Treasury for cost of living 2. MEA References Deleted. Any references to the Code Section 403(b)(2) exclusion allowance, the exclusion allowance, the maximum exclusion allowance or MEA not otherwise deleted by paragraph A.1, above, are deleted. 3. Catch-up Contributions Allowed for Participants Age 50 or Over. Nowithstanding the contribution limit provided for in Paragraph A.1 above, for any plan year beginning on or after January 1, 2002, a participant who would be at least age 50 by the end of the plan year, may contribute an additional amount not to exceed the lesser of: (a) $1,000 as adjusted under Code Section 414(v)(2)(B) and (C) or (b) the excess of his compensation for such plan year over the amounts the participant. contributed for such plan year under Paragraph A.1. 4. Rollovers Accepted. (a) Where the Code Section 403(b) arrangement is governed by a separate Plan document, then, to the extent allowed by the Plan, this Contract shall accept contributions that are considered rollover eligible amounts in accordance with Code Section 402(c)(4) from an eligible retirement plan described in Code Section 402(c)(8)(B). (b) Where the Code Section 403(b) arrangement is not governed by a separate Plan document, this Contract shall accept contributions that are considered rollover eligible amounts in accordance with Code Section 402(c)(4) from an eligible retirement plan described in Code Section 402(c)(8)(B). EEGTRRA-HEG(01) Page 1 C. Where the Contract and Certificate, if applicable, are issued in connection with a Code Section 401(a)l Plan then: 1. Rollovers Accepted to the Extent Allowed by the shall accept contributions that are considered rollover 402(c)(4) from eligible retirement plans described in C rollover contributions shall be maintained including se otherwise includible in gross income and the portion c income (i.e., the before -tax and after-tax portion of su an. To the extent allowed by the Plan, this Contract ligible amounts in accordance with Code Section de Section 402(c)(8)(B). A separate accounting of irate accounts for the portion of such co i tributions such contributions not otherwise includible in gross i contributions.) Where the Contract and Certificate, if applicable, are issued in connection with a Code Section 457 PI an that satisfies the requirements of Code Section 457(e)(1)(A) (i.e. a governmental 457 plan): 1. Rollovers Accepted to the Extent Allowed by the Plan. To the extent allowed by the Plan, this Contract shall accept contributions that are considered rollover eligible amounts in accordance with Code Section 402(c)(4) from an eligible retirement plan described in Code Section 402(c)(8)(B). A separate accounting of rollover contributions shall be maintained including a separate account for the portion of such contributions that is subject to Code Section 72(t). This Endorsement shall be effective January 1, 2002. In the event of any subsequent recodification of the Code Section references contained herein, this Endorsement shall be construed to refer to the original Code Sections, as recodified. President Voya ,,Retirement Insurance and Annuity Company EEGTRRA-HEG(01) Page 2 G-CDA(12/99)(WA) ACQ O/z CERTIFICATE OF LIABILITY INSURANCE DATE (MM/DD/YYYY) 06/01/2020 THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S), AUTHORIZED REPRESENTATIVE OR PRODUCER, AND THE CERTIFICATE HOLDER, IMPORTANT: If the certificate holder is an ADDITIONAL INSURED, the policy(ies) must have ADDITIONAL INSURED provisions or be endorsed. If SUBROGATION IS WAIVED, subject to the terms and conditions of the policy, certain policies may require an endorsement. A statement on this certificate does not confer riqhts to the certificate holder in lieu of such endorsement(s). 7z.T�1��c1 "MARSH USA, INC. TWO ALLIANCE CENTER 3560 LENOX ROAD, SUITE 2400 ATLANTA, GA 30326 C N 101422642-Voy a-GAW-20-: INSURED Voya Financial, Inc. 230 Park Avenue New York, NY 10169 COVERAGES JUN 11 20Z0 of Bremerton PHONE INSURER B : NetiOnal Uf110n INSURER D ATL-004418914-43 Insurance C REVISION NUMBER: NAIC # 23841 19445 19380 THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. INSR LTR TYPE OF INSURANCE ADDL SUBR POLICY NUMBER POLICY EFF MM/DD/YYYY POLICY EXP MMIDD/YYYY LIMITS B X COMMERCIAL GENERAL LIABILITY GL1947014 05/30/2020 05/30/2021 _ EACH OCCURRENCE $ 2/0002000 CLAIMS -MADE Ifl OCCUR DAMAGE TO RENTED PREMISES Ea occurrence $ 2500000 X MED EXP (Any one person) $ 10,000 Contractual Liab. Coverage X Host Liquor is included PERSONAL & ADV INJURY $ 21000,000 GEN'L AGGREGATE LIMIT APPLIES PER: GENERAL AGGREGATE $ 51000,000 X POLICY PRO ❑ LOC JECT PRODUCTS - COMP/OP AGG $ 21000,000 _ OTHER: $ B AUTOMOBILE LIABILITY CA1722382 (AOS) 05/30/2020 05/30/2021 CO aBINEDISINGLE LIMIT (EaB $ 22000,000 X ANY AUTO CAI722383 (MA) 05/30/2020 05/30/2021 BODILY INJURY (Per person) $ X OWNED SCHEDULED AUTOS ONLY AUTOS BODILY INJURY (Per accident) $ PROPERTYUAMAGE (Per accident $ X HIRED X NON -OWNED AUTOS ONLY AUTOS ONLY COMP/COLL $1,000 DIED $ UMBRELLA LIAB OCCUR EACH OCCURRENCE $ EXCESS LIAB CLAIMS -MADE AGGREGATE $ DED I I RETENTION $ $ A A C WORKERS COMPENSATION AND EMPLOYERS' LIABILITY Y / N OF ICERMEMBEREXCLUDED?ECUTIVE N (Mandatory in NH) N/A WC08425884(AOS) WC048425887 (AZ, VA) WC048425885 (CA) 05/3012020 0513012020 05/30/2021 0513012021 05130/2021 X PER STATUTE OTH- ER _ _ E.L.EACHACCIDENT $ 1,000,000 E.L. DISEASE -EA EMPLOYEE $ 12000,000 If yes, describe under DESCRIPTION OF OPERATIONS below "WC Continued on Attached` E.L. DISEASE - POLICY LIMIT $ 1,000,000 _-I DESCRIPTION OF OPERATIONS / LOCATIONS / VEHICLES (ACORD 101, Additional Remarks Schedule, may be attached If more space is required) THE COMPTROLLER AND THE CITY ARE INCLUDED AS AN ADDITIONAL INSUREDS ON THE ABOVE GENERAL LIABILITY POLICY BUT ONLY NII1 H RESPECT TO LIABILITY ARISING OUT OF THE OPERATIONS OF THE NAMED INSURED, CERTIFICATE HOLDER CANCELLATION THE CITY OF NEW YORK, OFFICE OF THE SHOULD ANY OF 711E ABOVE UI:SCRIBED POLICIES BE CANCELLED BEFORE 345 6th st ste 100 THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN Bremerton, WA 98337-1891 ACCORDANCE WITH THE POLICY PROVISIONS. AUTHORIZED REPRESENTATIVE of Marsh USA Inc. Ronald A. Santaniello �t/a..l�A/✓/ ©1988-2016 ACORD CORPORATION. All rights reserved. ACORD 25 (2016/03) The ACORD name and logo are registered marks of ACORD AGENCY CUSTOMER ID: CN101422642 LOC #: Atlanta AGENCY 'MARSH USA, INC. POLICY NUMBER CARRIER ADDITIONAL REMARKS SCHEDULE NAIC CODE NAMED INSURED Voya Financial, Inc. 230 Park Avenue New York, NY 10169 EFFECTIVE DATE: Page 2 Of 2 ACORD 101 (2008101 j ©2008 ACORD CORPORATION. All rights reserved. The ACORD name and logo are registered marks of ACORD 1681-LE£86 b'M 'uouaulaa8 00 L als is 4�9 5bE IOLLZOd-100- £LZO dS 69TZ000 DATE(MMIDD/YYYY) J CERTIFICATE OF LIABILITY INSURANCE 05/25/2022 THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW, THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S), AUTHORIZED REPRESENTATIVE OR PRODUCER, AND THE CERTIFICATE HOLDER, IMPORTANT. If the certificate holder is an ADDITIONAL INSURED, the policy(ies) must have ADDITIONAL INSURED provisions or be endorsed. If SUBROGATION IS WAIVED, subject to the terms and conditions of the policy, certain policies may require an endorsement. A statement on this certificate does not confer rights to the certificate holder in lieu of such endorsement(s). PRODUCER *MARSH USA, INC. TWO ALLIANCE CENTER 3560 LENOX ROAD, SUITE 2400 ATLANTA, GA 30326 INSURED Voya Financial, Inc. 230 Park Avenue New York, NY 10169 COVERAGES FEE% ELL City of Bremerton City Attorney's Office CERTIFICATE NUMBER: PHONE A : Nafional Union Fire Insurance Co. e :Insurance Comoanv State of Penr INSURER D ATL-0044189'4-47 REVISION NUMBER: THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. INSR LTR TYPE OF INSURANCE ADDL SUBR POLICY NUMBER POLICY EFF MMIDD/YYYY POLICY EXP MMIDDIYYYY LIMITS A X COMMERCIAL GENERAL LIABILITY GL1947044 05/30/2022 05/30/2023 EACH OCCURRENCE $ 2/0003000 CLAIMS -MADE � OCCUR DAMAGE TO (Ea occurrence) TEence) $ 250,000 X -PREMISES MED EXP (Any one person) $ 10,000 Contractual Liall. Coverage X Host Liquor is included PERSONAL & ADV INJURY $ 2,0001000 GEN'L AGGREGATE LIMIT APPLIES PER: GENERAL AGGREGATE $ 5,000,000 X POLICY PRO ❑ LOC JECT PRODUCTS -COMP/OP AGG $ 230003000 OTHER: $ A AUTOMOBILE LIABILITY CA1722446 (ADS) 05/3012022 05/30/2023 Ee aBINEDtSINGLE LIMIT $ 2,000,000 A X ANY AUTO CA1722447 (MA) 05/30/20.9.2 05/30/2023 BODILY INJURY (Per person) $ A OWNED SCHEDULED AUTOS ONLY AUTOS CA1722481 (VA) 05/30/2022 05/30/2023 X BODILY INJURY (Per accident) $ X PROPERTY DAMAGE Per accident $ HIRED X NON -OWNED AUTOS ONLY AUTOS ONLY COMP/COLL $11000 DED $ UMBRELLA LIAB OCCUR EACH OCCURRENCE $ EXCESS LIAB CLAIMS -MADE AGGREGATE $ DED RETENTION $ $ B B B WORKERS COMPENSATION AND EMPLOYERS' LIABILITY YIN ANYPROPRIETORIPARTNER/EXECUTIVE OFFICER/MEMBER EXCLUDED? (Mandatory in NH) NIA WC13759805 (ADS) WC13759806 (CA) WC13759807 I �) ,- 05130120:?2 05/30/2012 05/3012023 05130/2023 05/30/2023 X PER STATUTE OTH- ER E.L. EACH ACCIDENT $ 1,000,000 E.L. DISEASE - EA EMPLOYEE $ 1,000M If yes, describe under DESCRIPTION OF OPERATIONS below E.L. DISEASE - POLICY LIMIT $ 1,000,000 DESCRIPTION OF OPERATIONS / LOCATIONS / VEHICLES (ACORD 101, Additional Remarks Schedule, may be attachec' if more space Is required) THE COMPTROLLER AND THE CITY ARE INCLUDED AS AN ADDITIONAL INSUREDS ON THE ABOVE GENERAL LIABILI fY POLICY BUT ONLY WITH RESPECT TO LIABILITY ARISING OUT OF THE OPERATIONS OF THE NAMED INSURED. CERTIFICATE HOLDER CANCELLATION THE CITY OF NEW YORK, OFFICE OF THE SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE 345 6th st ste 100 THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN Bremerton, WA 98337-1891 ACCORDANCE WITH THE POLICY PROVISIONS, AUTHORIZED REPRESENTATIVE Vic. ©1988-2016 ACORD CORPORATION. All rights reserved. ACORD 25 (2016103) The ACORD name and logo are registered marks of ACORD Page 1 of 1 oRrJ@ CERTIFICATE OF LIABILITY INSURANCE D05/311/2023V) �' THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S), AUTHORIZED REPRESENTATIVE OR PRODUCER, AND THE CERTIFICATE HOLDER. IMPORTANT: If the Certificate holder is an ADDITIONAL INSURED, the policy(ies) must have ADDITIONAL INSURED provisions ar be endorsed. If SUBROGATION IS WAIVED, subject to the terms and conditions of the policy, certain policies may require an endorsement. A statement on this certificate does not confer riahts to the certificate holder in lieu of such endorsement(s1. PRODUCER Willie Towers Watson Northeast, Inc. c/o 26 Century Blvd RECEIVED P.O. Box 305191 Nashville, TN 372305191 USA ----_ _ INSURED Voya Financial, Inc. 230 Park Ave. 14th Floor New York, NY 30169 COVERAGES City of Bremerton Risk Management CERTIFICATE NUMBER: Wz913z59z Willis Topers Watson Cortificato Contor INSURER D 1-B77-945-7378 certificates@willis.com 1-888-467-2378 INSURERS) AFFORDING COVERAGE National Union Fire Insurance Company oP Insurance Company of the State of Ponnsy REVISION NUMBER: 19445 19429 THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. INSR - - - - _... _... - - - - .._ - �ADDL�SUBRf .. - _. - -_ - - _ _---- -POLICY EFF POLICY EXP ' _ - _ .... - _ _ _- -- -- _-_--_ - .. LTR TYPEOFINSURANCE i POLICY NUMBER MMIDD/YYYV MM/DDIYYYY LIMITS X COMMERCIAL GENERAL LIABILITY EACH OCCURRENCE $ 2,000,000 CLAIMS•MADE � OCCUR D PREMISES�Ea ocauren e $ 1, 000, 000 _ A MED EXP (Any one arson) $ 10, 000 GL - 1947044 O5/30/2023 05/30/2024 PERSONAL& ADVINJURY $ 2,000,000 GEN'L AGGREGATE LIMIT APPLIES PER: -- -- PRO- X POLICY JECT LOC GENERAL AGGREGATE $ 5, 000, 000 $ 2, 000, 000 PRODUCTS-COMPIOPAGG OTHER: $ AUTOMOBILE LIABILITY COMBINED SINGLE LI IT _(Ea ac_cldenl)_______-_ $ 2, 000, 000 �( ANY AUTO BODILY INJURY (Per porsun} $ A OWNED SCHEDULED AUTOS ONLY AUTOS AL 1722466 OS/30/2023 05/30/2024 gODILYINJURY(Paraceldonq $ PROPERTY DAMAGE js'er.accidQn�_ _ __ _ ._. $ HIRED NON�OWNED AUTOS ONLY AUTOS ONLY $ UMBRELLALIAB OCCUR EACH OCCURRENCE $ _ AGGREGATE $ EXCESS LIAR CLAIMS -MADE ____ DED I RETENTIONS $ B WORKERS COMPENSATION AND EMPLOYERS' LIABILITY ANYPROPRIETOR/PARTNER/EXECUTIVE YIN OFFICERIMEMBEREXCLUDED? No (Mandatory In NH) N!A WC 013759940 OS/30/2023 O5/30/2024 X STATUTE ER E.L. EACH ACCIDENT -- E.L. DISEASE • EA EMPLOYEE $ 1, 000, 000 $ 1,000,000 II yes, describe under DESCRIPTION OF OPERATIONS below E.L. DISEASE •POLICY LIMIT $ 1, 000, 000 DESCRIPTION OF OPERA710N51 LOCATIONS I VEHICLES (ACORD 101, Addlllonei Remarks Schedule, maybe allached it more space is required) Twin Cities In Motion is included as an included as an Additional Insured as respects to General Liability. CERTIFICATE HOLDER CANCELLATION SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN ACCORDANCE WITH THE POLICY PROVISIONS. AUTHORIZED REPRESENTATIVE THE CITY OF NEW YORK, OFFICE OF THE 345 6th st ste 100 ,/%�� Bremerton, WA 98337-1891 ©1988-2016 ACORD CORPORATION. All rights reserved. ACORD 25 (2016/03) The ACORD name and logo are registered marks of ACORD sn in; 24213473 eATcx: 2995642 6362: 2 of 2