Program Designed to Assist Employer Fulfillment of IRS Written Plan Document Requirements NEW YORK, Aug. 26 /PRNewswire-FirstCall/ -- AXA Equitable Life Insurance Company, one of the nation's foremost providers of retirement savings plans, has announced its participation in the Internal Revenue Service's 403(b) prototype program. The program was designed to provide a streamlined method for helping employers in the K-12 education market adopt a plan document that is in compliance with the written plan requirements of the Internal Revenue Code and applicable IRS regulations. All 403(b) plans are required to have a written document which describes the legal and regulatory requirements applicable to the plan and its other operating provisions, which may include the sharing of plan responsibilities among the employer/issuer, employee and any third-party administrators involved with the plan. "Adopting an approved prototype plan ensures that an employer will satisfy written requirements and mitigates the risks of plan disqualification," said James Mullery, senior vice president and head of the 403(b) market at AXA Equitable. "AXA Equitable has been providing service and support to clients to help them comply with the final 403(b) regulations since the requirements were first published. Offering IRS-approved prototype plan documents is a continuation of these services, and will help AXA Equitable clients keep their 403(b) programs compliant with the final regulations." AXA Equitable encourages employers to adopt their 403(b) plan now to avoid a year-end concern as to whether the operation of the plan was in accordance with its terms during 2009. Offering clients service and support in developing their 403(b) plan documents will help employers create, adopt and amend their programs as needed. The IRS announced its proposal for the prototype program in April. Reviews for the prototypes could begin as soon as the first quarter of 2010. "From our perspective, participating in the prototype program further elevates AXA Equitable's level of service to clients," said Mr. Mullery. To better help employers manage, simplify and streamline the work associated with administering their employer-sponsored retirement plans, AXA Equitable created The Employer Plan Administration Center (EPAC). Plan sponsors of 403(b) and 457(b) plans with active participants owning the EQUI-VEST variable annuity can review, monitor, and transmit plan information through EPAC. Employers can access EPAC 24/7 to: -- Upload contribution information -- Track and update approved plan providers -- Manage third-party administrator information -- View and download detailed plan reports about: -- Contributions and transfers/exchanges/rollovers by participant -- Summary of investment assets at a plan level -- Participant information -- Loans and distributions "One of the many issues facing employers today is the ever-changing landscape of regulations that affects the way employers need to manage and administer their plans," said Mullery. "AXA Equitable is acutely aware of employer needs, so as regulations change, EPAC will too." EQUI-VEST is a variable deferred annuity, a long-term financial product designed for retirement purposes. An annuity contract, when purchased to fund a qualified retirement plan should be considered for the annuity's features and benefits other than tax deferral. EQUI-VEST variable deferred annuities are issued by AXA Equitable Life Insurance Company, NY, NY ("AXA Equitable") and distributed by an affiliate AXA Advisors, LLC, Member FINRA/SIPC. AXA Equitable, AXA Advisors and their affiliates do not provide tax or legal advice. EQUI-VEST is a registered service mark of AXA Equitable Life Insurance Company. About AXA Equitable In business since 1859, AXA Equitable Life Insurance Company is a leading financial protection company and one of the nation's premier providers of life insurance and annuities as well as financial strategies, and investment products and services through its affiliate, AXA Advisors, LLC. The company's products and services are distributed to individuals and business owners through its retail distribution channel, AXA Advisors, LLC; to the financial services market through its wholesale distribution channel, AXA Distributors, LLC; and to corporations and their employees through its corporate distribution channel, Corporate Markets. AXA Equitable, a subsidiary of AXA Financial Inc., is part of the global AXA Group, a worldwide leader in financial protection strategies and wealth management. "AXA Group" refers to AXA, a French holding company for an international group of insurance and financial services companies together with its direct and indirect consolidated subsidiaries. While a part of the AXA Group, AXA Equitable is solely responsible for its annuity and life insurance obligations. For more information, visit http://www.axa-equitable.com/. DATASOURCE: AXA Equitable Life Insurance Company CONTACT: Matthew Klein, +1-212-314-2919, , or Jo Ann Tizzano, +1-212-314-2979, Web Site: http://www.axa-equitable.com/

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