Value of the Fixed Rate Strategy

The reallocation of value to or from the Fixed Rate Strategy will result in a pro-rata increase or decrease of the Fixed Rate Strategy Minimum Guaranteed Value in the same proportion as the value being reallocated bears to the total value of the Fixed Rate Strategy. A Withdrawal or Surrender from the Fixed Rate Strategy will result in a dollar for dollar reduction of the Fixed Rate Strategy Minimum Guaranteed Value equal to the amount withdrawn or surrendered.

Initial Fixed Rate Strategy Minimum Guaranteed Value Interest Rate Period: ​ Contract Years

Fixed Rate Strategy is an investment option that applies a declared Fixed Interest Rate to the applicable Premium or Accumulation Value allocated to this strategy. See [[Sections 4.3 and 5.4]4]]4] for additional details.

Any reallocations out of the Fixed Rate Strategy since the last Allocation Anniversary; less

Reallocation of value to or from the Fixed Rate Strategy and any Withdrawals or Surrenders; plus

You may allocate all or a portion of Premium and Accumulation Value to the Fixed Rate Strategy, if available, subject to the limits described above, and the value thereof will be calculated as described in [Section 5.4]. We reserve the right to restrict the allocation of Premium and Accumulation Value to the Fixed Rate Strategy at any time.

The initial Fixed Rate Strategy Minimum Guaranteed Value Interest Rate is shown in the Contract Schedule. It is set on the Contract Date and will not change for the number of Contract Years shown in the Contract Schedule. On each Contract Anniversary thereafter, the Fixed Rate Strategy Minimum Guaranteed Value Interest Rate will be set equal to the average of the five-year Constant Maturity Treasury Rate for each day that it is reported by the Federal Reserve during the month of October in the calendar year preceding the calendar year of the Contract Anniversary, less 1.25%. The Fixed Rate Strategy Minimum Guaranteed Value Interest Rate will be rounded to the nearest 0.05% and will not be greater than 3.00% or less than 1.00%.

You must specify the Fixed Rate Strategy, Index Segments and/or Subaccounts to which the transfers are to be made;

On each day thereafter, the value associated with each Premium or allocation of Subaccount value or Index Segment value held in the Fixed Rate Strategy equals: