Document:

exhibit4c.htm

    Providentmutual
Life and Annuity Company of America

    A
Stock Life Insurance Company

    Philadelphia,
Pennsylvania

    

    RIDER

    

    AMENDMENT
TO QUALIFY

    DEFERRED
ANNUITY CONTRACT AS

    AN
INDIVIDUAL RETIREMENT ANNUITY

    

    Your
Contract is amended as follows:

    

    
      	
              (1)  

            	
              The
      Owner must be Annuitant.  A Contingent Owner may not be
      designated.

            

    

    

    
      	
              (2)  

            	
              The
      Contract is established for the exclusive benefit of the Owner of his
      Beneficiaries and the interest of the Owner is
    nonforfeitable.

            

    

    

    
      	
              (3)  

            	
              This
      Contract may not be transferred, sold, assigned, discounted, or pledged as
      collateral for a loan.

            

    

    

    
      	
              (4)  

            	
              Unless
      such payment qualifies as a rollover contribution described in Section
      402(a)(5), 402(a)(7), 403(a)(4), 403(b)(8), 403(d)(3)(C) or 408(d)(3) of
      the Internal Revenue Code of 1986, as amended from time to time, the
      maximum annual Purchase Payment must be in cash and shall not exceed the
      lesser of 100% if compensation or $2,000 or such greater amount as may be
      permitted by amendment to the Internal Revenue Code.  For a
      Spousal IRA, the maximum annual contribution shall not exceed the lesser
      of $2,250 or 100% of compensation, with no more than $2,000 being
      contributed to either spouse's IRA.

            

    

    

    
      	
              (5)  

            	
              The
      entire interest of the Owner will be distributed or commence to be
      distributed, no later than the first day of April following the calendar
      year in which such individual attains age 70 1⁄2 (required beginning date),
      in equal or substantially equal amounts, over (a) the life of such
      individual (owner) and his or her designated beneficiary, or (b) a period
      not extending beyond the life expectancy of such individual (owner) or the
      joint and last survivor expectancy of such individual (owner) and his or
      her designated beneficiary.

            

    

    

    Minimum
Amounts to be distributed.  If the Owner's entire interest is to be
distributed is other than a lump sum, then the amount to be distributed each
year (commencing with the required beginning date and each year thereafter) must
be at least an amount equal to the quotient obtained by dividing the Owner's
entire interest by the life expectancy of the Owner or joint and last survivor
expectancy of the Owner and designated beneficiary.

    

    Life
expectancy and joint and last survivor expectancy are computed by use of the
return multiples contained in section 1.72-9 of the Income Tax
Regulations.  For purposes of this computation, the Owner's life
expectancy may be recalculated to more frequently than annually; however, the
life expectancy of a nonspouse beneficiary may not be recalculated.

    

    
      	
              (6)  

            	
              If
      the Owner dies before the entire interest is distributed, the following
      distribution provisions shall
apply:

            

    

    
      	
              a.  

            	
              If
      the Owner dies after distribution of his or her interest has commenced,
      the remaining portion of such interest will continue to be distributed at
      least as rapidly as under the method of distribution being used prior to
      the Owner's death.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              b.  

            	
              If
      the Owner dies before the distribution of his or her interest commences,
      the Owner's entire interest will be distributed in accordance with one of
      the following four provisions:

            

    

    
      	
              (1)  

            	
              The
      Owner's entire interest will be paid within five (5) years after the date
      of the Owner's death.

            

    

    
      	
              (2)  

            	
              If
      the Owner's interest is payable to a beneficiary designated by the Owner
      and the Owner has not elected (1) above, then the entire interest will be
      distributed in substantially equal installments over the life or life
      expectancy of the designated beneficiary commencing no later than one (1)
      year after the date of the Owner's death.  If the individual
      spouse is not the designated beneficiary the method of distribution
      selected must assure that at least 50% of the present value of the amount
      available for distribution is paid within the life expectancy of the
      participant.

            

    

    
      	
              (3)  

            	
              IF
      the designated beneficiary is the Owner's surviving spouse, the spouse may
      elect within the five year period commencing with the Owner's date of
      death to receive equal or substantially equal payments over the life or
      life expectancy of the surviving spouse commencing at any date prior to
      the date on which the deceased Owner would have attained age 70
      1⁄2.

            

    

    
      	
              (4)  

            	
              If
      the designated beneficiary is the Owner's surviving spouse the spouse may
      treat the account (contract) as his or her own individual retirement
      arrangement (IRA).  This election will be deemed to have been
      made if such surviving spouse makes a regular IRA contribution to such
      account (contract), makes a rollover to or from such account (contract),
      or fails to elect any of the above three
  provisions.

            

    

    

    
      	
              c.  

            	
              For
      the purposes of the above, payments will be calculated by use of the
      return multiples specified in section 1.72-9 of the
      regulations.  Life expectancy of a surviving spouse may be
      recalculated annually.  In the case of any other designated
      beneficiary, life expectancy will be calculated at the time payment first
      commences and payments for any 12-consecutive month period will be based
      on such life expectancy minus the number of whole years passed since
      distribution first commenced.

            

    

    

    
      	
              d.  

            	
              For
      purposes of this requirement, an amount paid to a child of the Owner will
      be treated as if it had been paid to the surviving spouse if the remainder
      of the interest becomes payable to the surviving spouse when the child
      reaches the age of majority.

            

    

    

    
      	
              (7)  

            	
              Refund
      of premiums (other than those attributable to excess contributions) will
      be applied before the close of the calendar year following the year of
      refund toward the payment of future premiums or the purchase of additional
      benefits.

            

    

    

    
      	
              (8)  

            	
              This
      contract does not require fixed
premiums.

            

    

    

    
      	
              (9)  

            	
              In
      order to retain its qualification under Section 408(b), we may amend this
      policy as required by changes in the I.R.C. Regulations and Published
      Rulings.  Any such amendment will be limited to all Section
      408(b) annuitants.

            

    

    

    The Rider
is subject to all the exclusions, definitions, and provisions of the Contract
which are not inconsistent herewith.

    

    Attached
by Providentmutual Life and Annuity Company of America on the Issue Date of the
Contract.

    

    Presidentexhibit4d.htm

    PROVIDENT
MUTUAL INSURANCE COMPANY OF PHILADELPHIA

    Philadelphia,
Pennsylvania

    

    RIDER

    

    Amendment
to Qualify Deferred Annuity Contract

    As a Tax
Sheltered Annuity Contract

    Under
Section 403(b) of the Internal Revenue Code

    

    The
contract is amended as follows, provided the Contract is purchased for you by
your employer and you are: (1) a public school employee; or (2) an employee of a
tax-exempt organization described in Section 501(C)(3) of the Internal revenue
Code of 1986, as amended from time to time (the Code).

    

    For
purposes of qualifying the Contract applied for as a Tax Sheltered Annuity under
Section 403(b) of the Code, the Contract herein is amended by the addition of
the provisions listed below.

    

    1. The Owner
must be the Annuitant. A Contingent Owner may be designated.

    

    2. The
Contract is established for the exclusive benefit of the Owner or his
Beneficiaries and the interest of the Owner is nonforfeitable.

    

    3. This
Contract may not be transferred, sold, assigned, discounted, or pledged as
collateral for a loan or as security for the performance of an obligation or for
any other purpose, to any other person other than the Company.

    

    4. The
entire interest of the Owner will not be distributed or commence to be
distributed before such individual attains age 59 1⁄2, separates from service,
dies or becomes disabled and not later than the first day of April following the
calendar year in which such individual attains age 70 1⁄2 (required beginning
date) and will be paid in equal or substantially equal amounts, over (a) the
life of such individual (Owner) and his or her designated beneficiary; or (b) a
period not extending beyond the life expectancy of such individual (Owner) or
the joint and last survivor expectancy of such individual (Owner) and his or her
designated beneficiary.

    An
individual shall be considered to be disabled if he or she is unable to engage
in any substantial gainful activity by reason of any medically determinable
physical or mental impairment which can be expected to result in death or to be
of long-continued and indefinite duration.

    

    5. Minimum
Amounts to be distributed. If the Owner’s entire interest is to be distributed
in other than a lump sum, then the amount to be distributed each year
(commencing with the required beginning date and each year thereafter) must be
at least an amount equal to the quotient obtained by dividing the Owner’s entire
interest by the life expectancy of the Owner or joint and last survivor
expectancy of the Owner and designated beneficiary, in accordance with Code
Section 403(b)(10).

    Life
expectancy and joint and last survivor expectancy are computed in accordance
with Code Section 403(b)(10), by use of the return multiples contained in Tables
V and VI of section 1/72-9 of the Income Tax Regulations. For purposes of this
computation, the Owner’s life expectancy and, if applicable, the Owner’s
spouse’s life expectancy may be recalculated no more frequently than annually;
however, the life expectancy of a nonspouse beneficiary may not be
recalculated.

    

    6. If  the
entire interest is distributed, the following distribution provisions shall
apply:

    
      	
              a.  

            	
              If
      the Owner dies after distribution of his or her interest has commenced,
      the remaining portion of such interest will continue to be distributed at
      least as rapidly as under the method of distribution being used prior to
      Owner’s death.

            

    

    

    
      	
              b.  

            	
              If
      the Owner dies before distribution of his or her interest commences, the
      Owner’s entire interest will be distributed in accordance with one of the
      following provisions:

            

    

    

    
      	
              (1)  

            	
              The
      Owner’s entire interest will be paid within five (5) years after the date
      of the Owner’s death.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              (2)  

            	
              If
      the Owner’s interest is payable to a beneficiary designated by the Owner
      and the Owner has not elected (1) above, then the entire interest will be
      distributed in substantially equal installments over the life or life
      expectancy of the designated beneficiary commencing no later than one (1)
      year after the date of the Owner’s death. If the individual spouse is not
      the designated beneficiary the method of distribution selected must assure
      that at least 50% of the present value of the amount available for
      distribution is paid within the life expectancy of the participant, in
      accordance with Code Section
403(b)(10).

            

    

    

    
      	
              (3)  

            	
              If
      the designated beneficiary is the Owner’s surviving spouse, the spouse may
      elect within the five-year period commencing with the Owner’s date of
      death to receive equal or substantially equal payments over the life or
      life expectancy of the surviving spouse commencing at any date prior to
      the date on which the deceased Owner would have attained 70
    1⁄2.

            

    

    

    
      	
              c.  

            	
              For
      the purposes of the above, payments will be calculated in accordance with
      Code Section 403(b)(10), by the use of the return multiples specified in
      Tables V and VI of section 1.72-9 of the regulations. Life expectancy of a
      surviving spouse may be recalculated annually. In the case of any other
      designated beneficiary, life expectancy will be calculated at the time
      payment first commences and payments for any 12-consecutiove month period
      will be based on such life expectancy minus the number of years passed
      since distribution first commenced.

            

    

    
      	
              d.  

            	
              For
      the purpose of this requirement, an amount paid to a child of the Owner
      will be treated as if it had been paid to the surviving spouse if the
      remainder of the interest becomes payable to the surviving spouse when the
      child reaches the age of majority.

            

    

    

    7. In order
to retain its qualification under Code section 403(b), we may amend this
Contract as required by changes in the Code, Regulations and Published Rulings.
Any such amendments will be issued to all Section 403(b)
annuitants.

    

    The Rider
is subject to all the exclusions, definitions, and provisions of the Contract
which are not inconsistent herewith.

    

    Attached
by Provident Mutual Life Insurance Company on the Issue Date of the
Contract.

    

    

    SIGNATURE

    President
and Chief Executive Officer

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00167-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00167-of-00352.parquet"}]]