GUARANTEED INTEREST DIVISION. Any amount allocated to the Guaranteed Interest Division becomes part of the general assets of Equitable, which support the guarantees of this Contract and other contracts. The amount with respect to a Participant in the Guaranteed Interest Division at any time is equal to (a) the sum of all amounts that have been allocated to the Guaranteed Interest Division with respect to that Participant, minus (b) the sum of all amounts that have been withdrawn, deducted, or transferred from the Guaranteed Interest Division with respect to that Participant. Interest, on the basis of the applicable Guaranteed Interest Rate, is allocated to the Guaranteed Interest Division daily and is credited for each day on the amount in the Guaranteed Interest Division at the beginning of that day.
Appears in 2 contracts
Sources: Group Annuity Contract (Separate Account a of Equitable Life Assu Soc of the Us), Group Annuity Contract (Separate Account a of Equitable Life Assu Soc of the Us)