-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, GMERB/um2a5uLaW0ev6rDZLgfhQmbxRnghmYhLok2CUXjwViV7Wlw5bIgqGyF4DA fFxvGl/mo6yIsnywn/B/yg== 0000950137-07-018515.txt : 20091224 0000950137-07-018515.hdr.sgml : 20091224 20071214114940 ACCESSION NUMBER: 0000950137-07-018515 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 5 FILED AS OF DATE: 20071214 DATE AS OF CHANGE: 20071214 EFFECTIVENESS DATE: 20071214 FILER: COMPANY DATA: COMPANY CONFORMED NAME: RIVERSOURCE VARIABLE ACCOUNT 10 CENTRAL INDEX KEY: 0001000191 IRS NUMBER: 000000000 STATE OF INCORPORATION: MN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 333-79311 FILM NUMBER: 071306470 BUSINESS ADDRESS: STREET 1: 50605 AMERIPRISE FINANCIAL CENTER STREET 2: H27/5229 CITY: MINNEAPOLIS STATE: MN ZIP: 55474 BUSINESS PHONE: 6126784177 MAIL ADDRESS: STREET 1: 50605 AMERIPRISE FINANCIAL CENTER STREET 2: H27/5229 CITY: MINNEAPOLIS STATE: MN ZIP: 55474 FORMER COMPANY: FORMER CONFORMED NAME: IDS LIFE VARIABLE ACCOUNT 10 DATE OF NAME CHANGE: 19950906 FILER: COMPANY DATA: COMPANY CONFORMED NAME: RIVERSOURCE VARIABLE ACCOUNT 10 CENTRAL INDEX KEY: 0001000191 IRS NUMBER: 000000000 STATE OF INCORPORATION: MN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-07355 FILM NUMBER: 071306471 BUSINESS ADDRESS: STREET 1: 50605 AMERIPRISE FINANCIAL CENTER STREET 2: H27/5229 CITY: MINNEAPOLIS STATE: MN ZIP: 55474 BUSINESS PHONE: 6126784177 MAIL ADDRESS: STREET 1: 50605 AMERIPRISE FINANCIAL CENTER STREET 2: H27/5229 CITY: MINNEAPOLIS STATE: MN ZIP: 55474 FORMER COMPANY: FORMER CONFORMED NAME: IDS LIFE VARIABLE ACCOUNT 10 DATE OF NAME CHANGE: 19950906 0001000191 S000003522 RIVERSOURCE VARIABLE ACCOUNT 10 C000009764 RiverSource Retirement Advisor Advantage Plus Variable Annuity/RiverSource Retirement Advisor Select Plus Variable Annuity 485BPOS 1 c19144be485bpos.txt POST-EFFECTIVE AMENDMENT TO REGISTRATION STATEMENT SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM N-4 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Pre-Effective Amendment No. _____________ [ ] Post-Effective Amendment No. 47 (File No. 333-79311) [X] and/or REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 Amendment No. 48 (File No. 811-07355) [X] (Check appropriate box or boxes) RIVERSOURCE VARIABLE ACCOUNT 10 (previously IDS LIFE VARIABLE ACCOUNT 10) (Exact Name of Registrant) RiverSource Life Insurance Company (previously IDS Life Insurance Company) (Name of Depositor) 70100 Ameriprise Financial Center, Minneapolis, MN 55474 (Address of Depositor's Principal Executive Offices) (Zip Code) Depositor's Telephone Number, including Area Code (612) 671-2237 Elisabeth A. Dahl 50605 Ameriprise Financial Center, Minneapolis, MN 55474 (Name and Address of Agent for Service) It is proposed that this filing will become effective (check appropriate box) [ ] immediately upon filing pursuant to paragraph (b) of Rule 485 [X] on Dec. 14, 2007 pursuant to paragraph (b) of Rule 485 [ ] 60 days after filing pursuant to paragraph (a)(1) of Rule 485 [ ] on [date] pursuant to paragraph (a)(1) of Rule 485 If appropriate, check the following box: [ ] this post-effective amendment designates a new effective date for a previously filed post-effective amendment. The purpose of this Post-Effective Amendment No. 47 is to supplement the prospectus for RiverSource Retirement Advisor Advantage Plus Variable Annuity/ RiverSource Retirement Advisor Select Plus Variable Annuity. The supplement filed electronically herewith is not intended to supersede the prospectuses for: RiverSource Retirement Advisor Variable Annuity, RiverSource Retirement Advisor Variable Annuity - Band 3, RiverSource Retirement Advisor Advantage Variable Annuity, RiverSource Retirement Advisor Select Variable Annuity, RiverSource Retirement Advisor Advantage Variable Annuity - Band 3, RiverSource Retirement Advisor Advantage Plus Variable Annuity, RiverSource Retirement Advisor Select Plus Variable Annuity, and Statement of Additional Information filed with Post-Effective Amendment No. 42 to Registration Statement No. 333-79311, filed on or about April 24, 2007, and prospectus and Statement of Additional Information for RiverSource Retirement Advisor 4 Advantage/RiverSource Retirement Advisor 4 Select/RiverSource Retirement Advisor 4 Access Variable Annuity filed with Post-Effective Amendment No.45 to Registration Statement No. 333-79311, filed on or about Aug.30, 2007. The prospectus for RiverSource Retirement Advisor Advantage Plus Variable Annuity and RiverSource Retirement Advisor Select Plus Variable Annuity filed electronically with Post-Effective Amendment No. 42 to Registration Statement No. 333-79311 filed on or about April 24, 2007 is incorporated by reference into Part A of Post-Effective Amendment No. 46 to this Registration Statement. The Combined Statement of Additional Information and Financial Statements filed electronically with Post-Effective Amendment No. 42 to Registration Statement No. 333-79311 on or about April 24, 2007 is incorporated by reference into Part B of Post-Effective No. 46 to this Registration Statement. PROSPECTUS SUPPLEMENT DATED DECEMBER 14, 2007
PRODUCT NAME PROSPECTUS FORM # - ------------ ----------------- RIVERSOURCE RETIREMENT ADVISOR ADVANTAGE PLUS(R) VARIABLE ANNUITY S-6273 K (5/07) RIVERSOURCE RETIREMENT ADVISOR SELECT PLUS(R) VARIABLE ANNUITY
The information in this supplement updates and amends certain information contained in the variable annuity contract prospectus listed above. Please read it carefully and keep it with your variable annuity contract prospectus. An enhanced version of the Guaranteed Minimum Withdrawal Benefit rider is being offered on contracts that include a Guaranteed Minimum Withdrawal Benefit rider. Effective Jan. 25, 2008, the section in the prospectus entitled "Guaranteed Minimum Withdrawal Benefit Rider" is removed and replaced with the following: GUARANTEED MINIMUM WITHDRAWAL BENEFIT RIDER (WITHDRAWAL BENEFIT AND ENHANCED WITHDRAWAL BENEFIT) The Withdrawal Benefit rider is an optional benefit that you may select for an additional annual charge if you are 80 or younger on the date the contract is issued. It is available for nonqualified and qualified annuities except under 401 (a) and 401 (k) plans.(1) (1) The Withdrawal Benefit rider is not available under an inherited qualified annuity. You must have elected the Withdrawal Benefit rider when you purchased your contract (original rider). The original rider you received at contract issue offers an elective annual step-up and any withdrawal after a step up during the first three contract years is considered an excess withdrawal, as described below. The rider effective date of the original rider is the contract issue date. We will offer you the option of replacing the original rider with a new Withdrawal Benefit (enhanced rider). The enhanced rider offers an automatic annual step-up and a withdrawal after a step up during the first three contract years is not necessarily an excess withdrawal, as described below. The effective date of the enhanced rider will be the contract issue date except for the automatic step-up which will apply to contract anniversaries that occur after you accept the enhanced rider. The descriptions below apply to both the original and enhanced riders unless otherwise noted. The Withdrawal Benefit initially provides a guaranteed minimum withdrawal benefit that gives you the right to take limited partial withdrawals in each contract year that over time will total an amount equal to your purchase payments plus any purchase payment credits. Certain withdrawals and step ups, as described below, can cause the initial guaranteed withdrawal benefit to change. The guarantee remains in effect if your partial withdrawals in a contract year do not exceed the allowed amount. As long as your withdrawals in each contract year do not exceed the allowed amount, you will not be assessed a surrender charge. Under the original rider, the allowed amount is the Guaranteed Benefit Payment (GBP -- the amount you may withdraw under the terms of the rider in each contract year, subject to certain restrictions prior to the third contract anniversary, as described below). Under the enhanced rider, the allowed amount is equal to 7% of purchase payments and purchase payment credits for the first three contract years, and the GBP in all other years. If you withdraw an amount greater than the allowed amount in a contract year, we call this an "excess withdrawal" under the rider. If you make an excess withdrawal under the rider: - surrender charges, if applicable, will apply only to the amount of the withdrawal that exceeds the allowed amount; - the guaranteed benefit amount will be adjusted as described below; and - the remaining benefit amount will be adjusted as described below. For a partial withdrawal that is subject to a surrender charge, the amount we actually deduct from your contract value will be the amount you request plus any applicable surrender charge (see "Charges -- Surrender Charge"). Market value adjustments, if applicable, will also be made (see the "Market Value Adjustment" provision in the prospectus). We pay you the amount you request. Any partial withdrawals you take under the contract will reduce the value of the death benefits (see "Benefits in Case of Death"). Upon full withdrawal of the contract, you will receive the remaining contract value less any applicable charges (see "Surrenders"). Once elected, the Withdrawal Benefit rider may not be cancelled by you and the fee will continue to be deducted until the contract is terminated, the contract value reduces to zero (described below) or annuity payouts begin. If you select the Withdrawal Benefit rider, you may not select the Accumulation Benefit rider. If you exercise the annual step up election (see "Elective Step Up" and "Annual Step Up" below), the special spousal continuation step up election (see "Spousal Continuation and Special Spousal Continuation Step Up" below) or change your Portfolio Navigator model portfolio, the rider charge may change (see "Charges"). THIS SUPPLEMENT SHOULD BE RETAINED WITH THE CURRENT PROSPECTUS FOR YOUR PRODUCT. - -------------------------------------------------------------------------------- S-6273-12A (12/07) * Destroy date: May 1, 2008. 1 WITHDRAWAL BENEFIT IS SUBJECT TO CERTAIN RESTRICTIONS AND LIMITATIONS DESCRIBED BELOW: - - USE OF ASSET ALLOCATION PROGRAM REQUIRED: You must participate in the Portfolio Navigator program with this rider (see "Making the Most of Your Contract -- Portfolio Navigator Asset Allocation Program"). The Portfolio Navigator program limits your choice of subaccounts and fixed account to those that are in the model portfolio you select. This means you will not be able to allocate contract value to all of the subaccounts or the fixed account that are available under the contract to contract owners who do not elect this rider. (See "Making the Most of Your Contract -- Portfolio Navigator Asset Allocation Program."); - - LIMITATIONS ON TSAS: Your right to take withdrawals is restricted if your contract is a TSA (see "TSA -- Special Withdrawal Provisions"). Therefore, Withdrawal Benefit rider may be of limited value to you. You should consult your tax advisor if you selected this optional rider and if you have any questions about the use of this rider in your tax situation; - - LIMITATIONS ON PURCHASE PAYMENTS: We reserve the right to limit the cumulative amount of purchase payments. - - NON-CANCELABLE: Once elected, the Withdrawal Benefit rider may not be cancelled by you and the fee will continue to be deducted until the contract is terminated, the contract value reduces to zero (described below) or annuity payouts begin. - - INTERACTION WITH THE TOTAL FREE AMOUNT (TFA) CONTRACT PROVISION: The TFA is the amount you are allowed to withdraw in each contract year without incurring a surrender charge (see "Charges -- Surrender Charge"). The TFA may be greater than the RBP under this rider. Any amount you withdraw in a contract year under the contract's TFA provision that exceeds the RBP is subject to the excess withdrawal processing for the GBA and RBA described below. YOU SHOULD CONSULT YOUR TAX ADVISOR IF YOU HAVE ANY QUESTIONS ABOUT THE USE OF THIS RIDER IN YOUR TAX SITUATION: - - TAX CONSIDERATIONS FOR NON-QUALIFIED ANNUITIES: Withdrawals before age 59 1/2 may incur a 10% IRS early withdrawal penalty and may be considered taxable income; - - TAX CONSIDERATIONS FOR QUALIFIED ANNUITIES: Qualified annuities have minimum distribution rules that govern the timing and amount of distributions from the annuity contract (see "Taxes -- Qualified Annuities -- Required Minimum Distributions"). If you have a qualified annuity, you may need to take an RMD that exceeds the guaranteed amount of withdrawal available under the rider and such withdrawals may reduce future benefits guaranteed under the rider. Under the terms of the enhanced rider, we allow you to satisfy the RMD based on the life expectancy RMD for your contract and the requirements of the Code and regulations in effect when you purchase your contract, without the withdrawal being treated as an excess withdrawal. It is our current administrative practice to make the same accommodation under the original rider, however, we reserve the right to discontinue this administrative practice and will give you 30 days' written notice of any such change. For contract holders subject to annual RMD rules under Section 401(a)(9) of the Code, amounts you withdraw each year from this contract to satisfy these rules are not subject to excess withdrawal processing under the terms of the rider, subject to the following rules and our current administrative practice: If on the date we calculated your Annual Life Expectancy Required Minimum Distribution Amount (ALERMDA), it is greater than the RBP from the beginning of the current contract year, - A Basic Additional Benefit Amount (BABA) will be set equal to that portion of your ALERMDA that exceeds the value of the RBP from the beginning of the current contract year. - Any withdrawals taken in a contract year will count first against and reduce the RBP for that contract year. - Once the RBP for the current contract year has been depleted, any additional amounts withdrawn will count against and reduce the BABA. These withdrawals will not be considered excess withdrawals with regard to the GBA and RBA as long as they do not exceed the remaining BABA. - Once the BABA has been depleted, any additional withdrawal amounts will be considered excess withdrawals with regard to the GBA and RBA and will subject them all to the excess withdrawal processing described by the rider. 2 The ALERMDA is: (1) determined by us each calendar year; (2) based on the value of this contract alone on the date it is determined; and (3) based on the company's understanding and interpretation of the requirements for life expectancy distributions intended to satisfy the required minimum distribution rules under Code Section 401(a) (9) and the Treasury Regulations promulgated thereunder, as applicable on the effective date of this prospectus, to: 1. IRAs under Section 408(b) of the Code; 2. Roth IRAs under Section 408A of the Code; 3. SIMPLE IRA under Section 408A of the Code; 4. SEP plans under Section 408 (k) of the Code; 5. Custodial and investment only plans under Section 401 (a) of the Code; 6. TSAs under Section 403(b) of the Code. In the future, the requirements under tax law for such distributions may change and the life expectancy amount calculation provided under your rider may not be sufficient to satisfy the requirements under the tax law for these types of distributions. In such a situation, amounts withdrawn to satisfy such distribution requirements would exceed your available withdrawal amount and may result in the reduction of your GBA and/or RBA as described under the excess withdrawal provision of the rider. RMD rules follow the calendar year which most likely does not coincide with your contract year and therefore may limit when you can take your RMD and not be subject to excess withdrawal processing. In cases where the Code does not allow the life expectancy of a natural person to be used to calculate the required minimum distribution amount (e.g. some ownerships by trusts and charities), we will calculate the life expectancy RMD amount as zero in all years. The annual life expectancy required minimum distribution amount calculated by us will also equal zero in all years. THE TERMS "GUARANTEED BENEFIT AMOUNT" AND "REMAINING BENEFIT AMOUNT" ARE DESCRIBED BELOW. EACH IS USED IN THE OPERATION OF THE GBP, THE RBP, THE ELECTIVE STEP UP, THE ANNUAL STEP UP, THE SPECIAL SPOUSAL CONTINUATION STEP UP AND THE WITHDRAWAL BENEFIT ANNUITY PAYOUT OPTION. GUARANTEED BENEFIT AMOUNT The Guaranteed Benefit Amount (GBA) is equal to the initial purchase payment, plus any purchase payment credits, adjusted for subsequent purchase payments, any purchase payment credits, partial withdrawals in excess of the GBP, and step ups. The maximum GBA is $5,000,000. The GBA is determined at the following times: - - At contract issue -- the GBA is equal to the initial purchase payment, plus any purchase payment credit; - - When you make additional purchase payments -- each additional purchase payment plus any purchase payment credit has its own GBA equal to the amount of the purchase payment plus any purchase payment credit. The total GBA when an additional purchase payment and purchase payment credit are added is the sum of the individual GBAs immediately prior to the receipt of the additional purchase payment, plus the GBA associated with the additional purchase payment; - - At step up -- (see "Elective Step Up" and "Annual Step Up" headings below). - - When you make a partial withdrawal: a) and all of your withdrawals in the current contract year, including the current withdrawal, are less than or equal to the GBP -- the GBA remains unchanged. Note that if the partial withdrawal is taken during the first three contract years, the GBA and the GBP are calculated after the reversal of any prior step ups; 3 b) and all of your withdrawals in the current contract year, including the current withdrawal, are greater than the GBP -- THE FOLLOWING EXCESS WITHDRAWAL PROCESSING WILL BE APPLIED TO THE GBA. Note that if the partial withdrawal is taken during the first three contract years, the GBA and the GBP are calculated after the reversal of any prior step ups: c) under the original rider in a contract year after a step up but before the third contract anniversary -- THE FOLLOWING EXCESS WITHDRAWAL PROCESSING WILL BE APPLIED TO THE GBA. Note that the GBA and the GBP are calculated after the reversal of prior step ups: GBA EXCESS WITHDRAWAL PROCESSING The total GBA will automatically be reset to the lesser of (a) the total GBA immediately prior to the withdrawal; or (b) the contract value immediately following the withdrawal. If there have been multiple purchase payments, each payment's GBA after the withdrawal will be reset to equal that payment's RBA after the withdrawal plus (a) times (b), where: (a) is the ratio of the total GBA after the withdrawal less the total RBA after the withdrawal to the total GBA before the withdrawal less the total RBA after the withdrawal; and (b) is each payment's GBA before the withdrawal less that payment's RBA after the withdrawal. REMAINING BENEFIT AMOUNT The remaining benefit amount (RBA) at any point is the total guaranteed amount available for future partial withdrawals. The maximum RBA is $5,000,000. The RBA is determined at the following times: - - At contract issue -- the RBA is equal to the initial purchase payment plus any purchase payment credit; - - When you make additional purchase payments -- each additional purchase payment plus any purchase payment credit has its own RBA equal to the amount of the purchase payment plus any purchase payment credit. The total RBA when an additional purchase payment and purchase payment credit are added is the sum of the individual RBAs immediately prior to the receipt of the additional purchase payment, plus the RBA associated with the additional payment; - - At step up -- (see "Elective Step Up" and "Annual Step Up" headings below). - - When you make a partial withdrawal: a) and all of your withdrawals in the current contract year, including the current withdrawal, are less than or equal to the GBP -- the RBA becomes the RBA immediately prior to the partial withdrawal, less the partial withdrawal. Note that if the partial withdrawal is taken during the first three contract years, the RBA and the GBP are calculated after the reversal of any prior step ups; b) and all of your withdrawals in the current contract year, including the current withdrawal, are greater than the GBP -- THE FOLLOWING EXCESS WITHDRAWAL PROCESSING WILL BE APPLIED TO THE RBA. Note that if the partial withdrawal is taken during the first three contract years, the RBA and the GBP are calculated after the reversal of any prior step ups; c) under the original rider after a step up but before the third contract anniversary -- THE FOLLOWING EXCESS WITHDRAWAL PROCESSING WILL BE APPLIED TO THE RBA. Note that the RBA and the GBP are calculated after the reversal of prior step ups. RBA EXCESS WITHDRAWAL PROCESSING The RBA will automatically be reset to the lesser of (a) the contract value immediately following the withdrawal, or (b) the RBA immediately prior to the withdrawal, less the amount of the withdrawal. If there have been multiple purchase payments, any reduction of the RBA will be taken out of each payment's RBA in the following manner: The withdrawal amount up to the remaining benefit payment (defined below) is taken out of each RBA bucket in proportion to its remaining benefit payment at the time of the withdrawal; and the withdrawal amount above the remaining benefit payment and any amount determined by the excess withdrawal processing are taken out of each RBA bucket in proportion to its RBA at the time of the withdrawal. GUARANTEED BENEFIT PAYMENT Under the original rider, the GBP is the amount you may withdraw under the terms of the rider in each contract year, subject to certain restrictions prior to the third anniversary. Under the enhanced rider, the GBP is the withdrawal amount that you are entitled to take each contract year after the third anniversary until the RBA is depleted. 4 Under the original rider, the GBP is equal to 7% of the GBA. Under the enhanced rider, the GBP is the lesser of a) 7% of the GBA or (b) the RBA. Under both the original and enhanced riders, if you withdraw less than the GBP in a contract year, there is no carry over to the next contract year. REMAINING BENEFIT PAYMENT Under the original rider, at the beginning of each contract year, the remaining benefit payment (RBP) is set as the lesser of (a) the GBP, or (b) the RBA. Under the enhanced rider, at the beginning of each contract year, during the first three contract years and prior to any withdrawal, the RBP for each purchase payment is set equal to that purchase payment plus any purchase payment credit, multiplied by 7%. At the beginning of any other contract year, each individual RBP is set equal to each individual GBP. Each additional purchase payment has its own RBP established equal to that payment's GBP. The total RBP is equal to the sum of the individual RBPs. Whenever a partial withdrawal is made, the RBP equals the RBP immediately prior to the partial withdrawal less the amount of the partial withdrawal, but not less than zero. ELECTIVE STEP UP (UNDER THE ORIGINAL RIDER ONLY) You have the option to increase the RBA, the GBA, the GBP and the RBP beginning with the first contract anniversary. An annual elective step up option is available for 30 days after the contract anniversary. The elective step up option allows you to step up the remaining benefit amount and guaranteed benefit amount to the contract value on the valuation date we receive your written request to step up. The elective step up is subject to the following rules: - - if you do not take any withdrawals during the first three contract years, you may step up annually beginning with the first contract anniversary; - - if you take any withdrawals during the first three contract years, the annual elective step up will not be available until the third contract anniversary; - - if you step up on the first or second contract anniversary but then take a withdrawal prior to the third contract anniversary, you will lose any prior step ups and the withdrawal will be considered an excess withdrawal subject to the GBA and RBA excess withdrawal processing discussed under the "Guaranteed Benefit Amount" and "Remaining Benefit Amount" headings above, and to surrender charges; and - - you may take withdrawals on or after the third contract anniversary without reversal of previous step ups You may elect a step up only once each contract year within 30 days after the contract anniversary. Once a step up has been elected, another step up may not be elected until the next contract anniversary. RIDER A(1): You may only step up if your contract value on the valuation date we receive your written request to step up is greater than RBA. The elective step up will be determined as follows: - - The effective date of the elective step up is the valuation date we receive your written request to step up. - - The RBA will be increased to an amount equal to the contract value on the valuation date we receive your written request to step up. - - The GBA will be increased to an amount equal to the greater of (a) the GBA immediately prior to the elective step up; or (b) the contract value on the valuation date we receive your written request to step up. - - The GBP will be increased to an amount equal to the greater of (a) the GBP immediately prior to the step up; or (b) 7% of the GBA after the step up. - - The RBP will be increased to the lesser of (a) the RBA after the elective step up; or (b) the GBP after the elective step up. RIDER B(1): You may only step up if your contract value is greater than RBA. The elective step up will be determined as follows: - - The effective date of the elective step up is the contract anniversary. - - The RBA will be increased to an amount equal to the contract anniversary value. - - The GBA will be increased to an amount equal to the greater of (a) the GBA immediately prior to the elective step up; or (b) the contract anniversary value. (1) Before April 29, 2005 we only offered Rider B. We began offering Rider A in states where it is approved and discontinued offering Rider B in those states, on April 29, 2005. If you purchased a contract with this optional benefit rider before April 29, 2005 the references to Rider B generally apply to your contract (see the rider attached to your contract for the actual terms of the benefit you purchased). If you purchased a contract on or after April 20, 2005 with this benefit, the version we offer you depends on which state you live in. The discussion about this benefit and how it works applies generally to both riders unless otherwise noted. 5 - - The GBP will be increased to an amount equal to the greater of (a) the GBP immediately prior to the step up; or (b) 7% of the GBA after the step up. - - The RBP will be increased to the lesser of (a) the RBA after the elective step up; or (b) the GBP after the elective step up. ANNUAL STEP UP (UNDER THE ENHANCED RIDER ONLY) Beginning with the first contract anniversary after you accept the enhanced rider, an increase of the RBA, the GBA, the GBP and the RBP may be available. A step up does not create contract value, guarantee performance of any investment options, or provide a benefit that can be withdrawn or paid upon death. Rather, a step up determines the current values of the GBA, RBA, GBP, and RBP, and may extend the payment period or increase allowable payment. The annual step up is subject to the following rules: - - The annual step up is available when the RBA would increase on the step up date. The applicable step up date depends on whether the annual step up is applied on an automatic or elective basis. - - If the application of the step does not increase the rider charge, the annual step up will be automatically applied to your contract and the step up date is the contract anniversary date. - - If the application of the step up would increase the rider charge (see the "Withdrawal Benefit Rider Fee" provision in the prospectus), the annual step up is not automatically applied. Instead, you have the option to step up for 30 days after the contract anniversary. If you exercise the elective annual step up option, you will pay the rider charge in effect on the step up date. If you wish to exercise the elective annual step up option, we must receive a request from you or your investment professional. The step up date is the date we receive your request to step up. If your request is received after the close of business, the step up date will be the next valuation day. - - Only one step up is allowed each contract year. - - If you take any withdrawals during the first three contract years, any previously applied step ups will be reversed and the annual step up will not be available until the third contract anniversary; - - You may take withdrawals on or after the third contract anniversary without reversal of previous step ups. The annual step up will be determined as follows: - - The RBA will be increased to an amount equal to the contract value on the step up date. - - The GBA will be increased to an amount equal to the greater of (a) the GBA immediately prior to the annual step up; or (b) the contract value on the step up date. - - The GBP will be calculated as described earlier, but based on the increased GBA and RBA. - - The RBP will be reset as follows: (a) Prior to any withdrawals during the first three contract years, the RBP will not be affected by the step up. (b) At any other time, the RBP will be reset as the increased GBP less all prior withdrawals made during the current contract year, but not less than zero. SPOUSAL CONTINUATION AND SPECIAL SPOUSAL CONTINUATION STEP UP If a surviving spouse elects to continue the contract, this rider also continues. The spousal continuation step up is in addition to the elective step up or the annual step up on contract anniversaries. A surviving spouse may elect a spousal continuation step up by written request within 30 days following the spouse's election to continue the contract. Under this step up, the RBA will be reset to the greater of the RBA or the contract value on the valuation date we receive the spouse's written request to step up; the GBA will be reset to the greater of the GBA or the contract value on the same valuation date. If a spousal continuation step up is elected and we have increased the charge for the rider, the spouse will pay the charge that is in effect on the valuation date we receive the written request to step up. It is our current administrative practice to process the spousal continuation step up as described in the next paragraph; however, we reserve the right to discontinue the administrative practice and will give you 30 days' written notice of any such change. 6 At the time of spousal continuation, a step up may be available. All annual step-up rules (see "Annual Step-Up" heading above), other than those that apply to the waiting period, also apply to the spousal continuation step up. If the spousal continuation step up is processed automatically, the step up date is the valuation date the spousal continuation is effective. If not, the spouse must elect the step up and must do so within 30 days of the spousal continuation date. If the spouse elects the spousal continuation step up, the step-up date is the valuation date we receive the spouse's written request to step up if we receive the request by the close of business on that day, otherwise the next valuation date. REMAINING BENEFIT AMOUNT PAYOUT OPTION Several annuity payout plans are available under the contract. As an alternative to these annuity payout plans, a fixed annuity payout option is available under the Withdrawal Benefit. Under this option the amount payable each year will be equal to the remaining schedule of GBPs, but the total amount paid over the life of the annuity will not exceed the current total RBA at the time you begin this fixed annuity option. These annualized amounts will be paid in the frequency that you elect. The frequencies will be among those offered by us at that time but will be no less frequent than annually. If, at the death of the owner, total payments have been made for less than the RBA, the remaining payments will be paid to the beneficiary (see "The Annuity Payout Period" and "Taxes"). This annuity payout option may also be elected by the beneficiary of a contract as a settlement option. Whenever multiple beneficiaries are designated under the contract, each such beneficiary's share of the proceeds if they elect this option will be in proportion to their applicable designated beneficiary percentage. Beneficiaries of nonqualified contracts may elect this settlement option subject to the distribution requirements of the contract. We reserve the right to adjust the remaining schedule of GBPs if necessary to comply with the Code. IF CONTRACT VALUE REDUCES TO LESS THAN $600* If the contract value reduces to less than $600 and the RBA remains greater than zero, the following will occur: - - you will be paid according to the annuity payout option described above; - - we will no longer accept additional purchase payments; - - you will no longer be charged for the rider; - - any attached death benefit riders will terminate; and - - the death benefit becomes the remaining payments under the annuity payout option described above. If the contract value falls to zero and the RBA is depleted, the Withdrawal Benefit rider and the contract will terminate. * Under our current administrative practice, we allow the minimum contract value to be $0. Therefore, these limitations will only apply when the contract value is reduced to zero. For an example, see Appendix C. 7 PART B. The Combined Statement of Additional Information and Financial Statements filed electronically with Post-Effective Amendment No. 42 to Registration Statement No. 333-79311 on or about April 24, 2007 is incorporated by reference. PART C. Item 24. Financial Statements and Exhibits (a) Financial statements included in Part B of this Registration Statement: The audited financial statements of the RiverSource Variable Account 10 including: Report of Independent Registered Public Accounting Firm dated April 24, 2007. Statements of Assets and Liabilities for the year ended Dec. 31, 2006. Statements of Operations for the year ended Dec. 31, 2006. Statements of Changes and Net Assets for the years ended Dec. 31, 2006 and 2005. Notes to Financial Statements. The audited financial statements of the RiverSource Life Insurance Company including: Report of Independent Registered Public Accounting Firm dated Feb. 26, 2007. Consolidated Balance Sheets as of Dec. 31, 2006 and 2005. Consolidated Statements of Income for the years ended Dec. 31, 2006, 2005 and 2004. Consolidated Statements of Cash Flows for the years ended Dec. 31, 2006, 2005 and 2004. Consolidated Statements of Stockholder's Equity for the three years ended Dec. 31, 2006, 2005 and 2004. Notes to Consolidated Financial Statements. (b) Exhibits: 1.1 Resolution of the Board of Directors of IDS Life Insurance Company establishing the IDS Life Variable Account 10 dated August 23, 1995, filed electronically as Exhibit 1 to Registrant's Initial Registration Statement No. 33-62407 is incorporated herein by reference. 1.2 Resolution of the Board of Directors of IDS Life Insurance Company establishing 105 additional subaccounts within the separate account, filed electronically as Exhibit 1.2 to Pre-Effective Amendment No. 1 to Registration Statement No. 333-79311 filed on or about Aug. 10, 1999, is incorporated herein by reference. 1.3 Resolution of the Board of Directors of IDS life Insurance Company establishing 25 additional subaccounts within the separate account, filed electronically as Exhibit 1.3 to Registrant's Post-Effective Amendment No. 2 to Registration Statement No. 333-79311, is incorporated herein by reference. 1.4 Resolution of the Board of Directors of IDS Life Insurance Company establishing 12 additional subaccounts within the separate account, filed electronically as Exhibit 1.3 to Registrant's Post-Effective Amendment No. 3 to Registration Statement No. 333-79311, is incorporated herein by reference. 1.5 Resolution of the Board of Directors of IDS Life Insurance Company establishing 69 additional subaccounts within the separate account, filed electronically as Exhibit 1.5 to Registrant's Post-Effective Amendment No. 6 to Registration Statement No. 333-79311, is incorporated herein by reference. 1.6 Resolution of the Board of Directors of IDS Life Insurance Company establishing 112 additional subaccounts within the separate account, dated Feb. 11, 2002, filed electronically as Exhibit 1.6 to Registrant's Post-Effective Amendment No. 8 to Registration Statement No. 333-79311, is incorporated herein by reference. 1.7 Resolution of the Board of Directors of IDS Life Insurance Company establishing 3 additional subaccounts within the separate account, dated Feb. 28, 2002, filed electronically as Exhibit 1.7 to Registrant's Post-Effective Amendment No. 10 to Registration Statement No. 333-79311, is incorporated herein by reference. 1.8 Resolution of the Board of Directors of IDS Life Insurance Company establishing 8 additional subaccounts within the separate account, dated January 6, 2004, filed electronically as Exhibit 1.8 to Registrant's Post-Effective Amendment No. 21 to Registration Statement No. 333-79311, filed on or about Jan. 23, 2004, is incorporated by reference. 1.9 Resolution of the Board of Directors of IDS Life Insurance Company establishing 6 additional subaccounts within the separate account, dated August 12, 2004 filed electronically as Exhibit 1.9 to Post-Effective Amendment No. 32 to Registration Statement No. 333-79311 is incorporated by reference. 1.10 Resolution of the Board of Directors of IDS Life Insurance Company establishing an additional subaccount within the separate account, dated April 27, 2005 filed electronically as Exhibit 1.10 to Post-Effective Amendment No. 32 to Registration Statement No. 333-79311 is incorporated by reference. 1.11 Resolution of the Board of Directors establishing 18 additional subaccounts within the separate accounts dated April 12, 2006 filed electronically as Exhibit 1.11 to Registrant's Post-Effective Amendment No. 39 to Registration Statement No. 333-79311 is incorporated by reference. 1.12 Unanimous Written Consent of the Board of Directors In Lieu of a Meeting for IDS Life Insurance Company, adopted December 8, 2006 for the Re-designation of the Separate Accounts to Reflect Entity Consolidation and Rebranding filed electronically as Exhibit 27(a)(6) to Post-Effective Amendment No. 28 to Registration Statement No. 333-69777 is incorporated by reference. 2. Not applicable. 3. Form of Principal Underwriter Agreement for RiverSource Life Insurance Company Variable Annuities and Variable Life Insurance filed electronically as Exhibit 3.1 to the Initial Registration Statement on Form N-4 for RiverSource Variable Annuity Account (previously American Enterprise Variable Annuity Account), RiverSource Signature(SM) Select Variable Annuity and RiverSource Signature(SM) Variable Annuity, on or about Jan. 2, 2007, is incorporated by reference. 4.1 Form of Deferred Annuity Contract for non-qualified contracts (form 31043) filed electronically as Exhibit 4.1 to Registrant's Initial Registration Statement No. 333-79311, filed on or about May 26, 1999, is incorporated herein by reference. 4.2 Form of Deferred Annuity Contract for tax qualified contracts (form 31044) filed electronically as Exhibit 4.2 to Registrant's Initial Registration Statement No. 333-79311, filed on or about May 26, 1999, is incorporated herein by reference. 4.3 Form of Deferred Annuity Contract for IRA contracts (form 31045-IRA) filed electronically as Exhibit 4.3 to Registrant's Initial Registration Statement No. 333-79311, filed on or about May 26, 1999, is incorporated herein by reference. 4.4 Form of Deferred Annuity Contract for non-qualified contracts (form 31046) filed electronically as Exhibit 4.4 to Registrant's Initial Registration Statement No. 333-79311, filed on or about May 26, 1999, is incorporated herein by reference. 4.5 Form of Deferred Annuity Contract for tax qualified contracts (form 31047) filed electronically as Exhibit 4.5 to Registrant's Initial Registration Statement No. 333-79311, filed on or about May 26, 1999, is incorporated herein by reference. 4.6 Form of Deferred Annuity Contract for IRA contracts (form 31048-IRA) filed electronically as Exhibit 4.6 to Registrant's Initial Registration Statement No. 333-79311, filed on or about May 26, 1999, is incorporated herein by reference. 4.7 Form of TSA Endorsement (form 31049), filed electronically as Exhibit 4.7 to Pre-Effective Amendment No. 1 to Registration Statement No. 333-79311 filed on or about Aug. 10, 1999 is incorporated herein by reference. 4.8 Form of Maximum Anniversary Value Death Benefit Rider, filed electronically as Exhibit 4.8 to Post-Effective Amendment No. 4 to Registration Statement No. 333-79311, is incorporated herein by reference. 4.9 Form of Enhanced Earnings Death Benefit Rider, filed electronically as Exhibit 4.9 to Post-Effective Amendment No. 4 to Registration Statement No. 333-79311, is incorporated herein by reference. 4.10 Form of Enhanced Earnings Plus Death Benefit Rider, filed electronically as Exhibit 4.10 to Post-Effective Amendment No. 4 to Registration Statement No. 333-79311, is incorporated herein by reference. 4.11 Form of Traditional IRA or SEP-IRA Annuity Endorsement (form 131061) filed electronically as Exhibit 4.11 to Post-Effective Amendment No. 14 to Registration Statement No. 333-79311, is incorporated herein by reference. 4.12 Form of Roth IRA Annuity Endorsement (form 131062) filed electronically as Exhibit 4.12 to Post-Effective Amendment No. 14 to Registration Statement No. 333-79311, is incorporated herein by reference. 4.13 Form of SIMPLE IRA Annuity Endorsement (form 131063) filed electronically as Exhibit 4.13 to Post-Effective Amendment No. 14 to Registration Statement No. 333-79311, is incorporated herein by reference. 4.14 Form of Deferred Annuity Contract for non-qualified contracts (form 131041) filed electronically as Exhibit 4.14 to Post-Effective Amendment No. 14 to Registration Statement No. 333-79311, is incorporated herein by reference. 4.15 Form of Deferred Annuity Contract for Retirement Advisor Advantage Plus (form 1043 A) filed electronically as Exhibit 4.15 to Post-Effective Amendment No. 21 to Registration Statement No. 333-79311, filed on or about Jan. 23, 2004, is incorporated by reference. 4.16 Form of Deferred Annuity Contract for Retirement Advisor Select Plus (form 131041 A) filed electronically as Exhibit 4.16 to Post-Effective Amendment No. 21 to Registration Statement No. 333-79311, filed on or about Jan. 23, 2004, is incorporated by reference. 4.17 Form of Deferred Annuity Contract for RiverSource Retirement Advisor 4 Advantage Variable Annuity (form 131101), filed electronically as Exhibit 4.17 to Post-Effective Amendment No. 40 to Registration Statement No. 333-79311, filed on or about June 5, 2006, is incorporated by reference. 4.18 Form of Deferred Annuity Contract for RiverSource Retirement Advisor 4 Select Variable Annuity (form 131102), filed electronically as Exhibit 4.18 to Post-Effective Amendment No. 40 to Registration Statement No. 333-79311, filed on or about June 5, 2006, is incorporated by reference. 4.19 Form of Deferred Annuity Contract for RiverSource Retirement Advisor 4 Access Variable Annuity (form 131103), filed electronically as Exhibit 4.19 to Post-Effective Amendment No. 40 to Registration Statement No. 333-79311, filed on or about June 5, 2006, is incorporated by reference. 4.20 Form of TSA Endorsement (form 131068), filed electronically as Exhibit 4.17 to Post-Effective Amendment No. 21 to Registration Statement No. 333-79311, filed on or about Jan. 23, 2004, is incorporated by reference. 4.21 Form of Return of Purchase Payments Rider (form 131072), filed electronically as Exhibit 4.18 to Post-Effective Amendment No. 21 to Registration Statement No. 333-79311, filed on or about Jan. 23, 2004, is incorporated by reference. 4.22 Form of Maximum Anniversary Value Death Benefit Rider (form 131031), filed electronically as Exhibit 4.19 to Post-Effective Amendment No. 21 to Registration Statement No. 333-79311, filed on or about Jan. 23, 2004, is incorporated by reference. 4.23 Form of 5-Year Maximum Anniversary Value Death Benefit Rider (form 131071), filed electronically as Exhibit 4.20 to Post-Effective Amendment No. 21 to Registration Statement No. 333-79311, filed on or about Jan. 23, 2004, is incorporated by reference. 4.24 Form of Enhanced Earnings Death Benefit Rider (form 131032 A), filed electronically as Exhibit 4.21 to Post-Effective Amendment No. 21 to Registration Statement No. 333-79311, filed on or about Jan. 23, 2004, is incorporated by reference. 4.25 Form of Enhanced Earnings Plus Death Benefit Rider (form 131033 A), filed electronically as Exhibit 4.22 to Post-Effective Amendment No. 21 to Registration Statement No. 333-79311, filed on or about Jan. 23, 2004, is incorporated by reference. 4.26 Form of 401 (a) Annuity Endorsement (form 131069), filed electronically as Exhibit 4.23 to Post-Effective Amendment No. 21 to Registration Statement No. 333-79311, filed on or about Jan. 23, 2004, is incorporated by reference. 4.27 Form of Guarantee Period Accounts Rider filed electronically as Exhibit 4.24 to Post-Effective Amendment No. 25 to Registration Statement No. 333-79311, filed on or about June 2, 2004, is incorporated by reference. 4.28 Form of Guaranteed Minimum Withdrawal Benefit Rider (form 131034) filed electronically as Exhibit 4.25 to Post-Effective Amendment No. 29 to Registration Statement No. 333-79311, filed on or about Oct. 21, 2004, is incorporated by reference. 4.29 Form of Guaranteed Minimum Accumulation Benefit Rider (GMAB) (form 131035) filed electronically as Exhibit 4.29 to Registrant's Post-Effective Amendment No. 39 to Registration Statement No. 333-79311 is incorporated by reference. 4.30 Form of Portfolio Navigator Model Portfolio Rider (form 131070C) filed electronically as Exhibit 4.30 to Registrant's Post-Effective Amendment No. 39 to Registration Statement No. 333-79311 is incorporated by reference. 4.31 Form of Guaranteed Minimum Lifetime Withdrawal Benefit Rider (Withdrawal Benefit for Life), filed electronically as Exhibit 4.31 to Post-Effective Amendment No. 40 to Registration Statement No. 333-79311, filed on or about June 5, 2006, is incorporated by reference. 4.32 Copy of Company name change endorsement (form 131115) for RiverSource Life Insurance Company, filed electronically as Exhibit 4.32 to Registrant's Post-Effective Amendment No. 41 to Registration Statement No. 333-79311 filed on or about Jan. 2, 2007, is incorporated by reference. 4.33 Form of SecureSource Joint Life rider filed electronically as Exhibit 4.33 to Registrant's Post-Effective Amendment No. 44 to Registration Statement No. 333-79311 is incorporated herein by reference. 4.34 Form of SecureSource Single Life rider filed electronically as Exhibit 4.34 to Registrant's Post-Effective Amendment No. 44 to Registration Statement No. 333-79311 is incorporated herein by reference. 4.35 Form of Guaranteed Minimum Withdrawal Benefit Rider (form 131034-E) filed electronically herewith. 5. Form of Variable Annuity Application (form 31063), filed electronically as Exhibit 5 to Pre-Effective Amendment No. 1 to Registration Statement No. 333-79311 filed on or about Aug. 10, 1999 is incorporated herein by reference. 6.1 Certificate of Incorporation of IDS Life dated July 24, 1957, filed electronically as Exhibit 6.1 to Registrant's Initial Registration Statement No. 33-62407 is incorporated herein by reference. 6.2 Copy of Certificate of Amendment of Certificate of Incorporation of IDS Life Insurance Company dated June 22, 2006, filed electronically as Exhibit 27(f)(1) to Post-Effective Amendment No. 22 to Registration Statement No. 333-44644 is incorporated by reference. 6.3 Copy of Amended and Restated By-Laws of RiverSource Life Insurance Company filed electronically as Exhibit 27(f)(2) to Post-Effective Amendment No. 22 to Registration Statement No. 333-44644 is incorporated by reference. 7. Not applicable. 8.1 Copy of Amended and Restated Participation Agreement dated April 17, 2006, by and among AIM Variable Insurance Funds, AIM Distributors, Inc. American Enterprise Life Insurance Company, American Partners Life Insurance Company, IDS Life Insurance Company, and Ameriprise Financial Services, Inc. filed electronically as Exhibit 27(h) (1) to Post-Effective Amendment No. 28 to Registration Statement No. 333-69777 is incorporated herein by reference. 8.2 Copy of Amended and Restated Participation Agreement dated August 1, 2006, among American Enterprise Life Insurance Company, IDS Life Insurance Company, Ameriprise Financial Services, Inc., AllianceBernstein L.P. and AllianceBernstein Investments, Inc. filed electronically as Exhibit 27(h) (20) to Post-Effective Amendment No. 28 to Registration Statement No. 333-69777is incorporated herein by reference. 8.3 Copy of Amended and Restated Fund Participation Agreement dated June 1, 2006, by and among American Centurion Life Assurance Company, American Enterprise Life Insurance Company, American Partners Life Insurance Company, IDS Life Insurance Company, IDS Life Insurance Company of New York, Ameriprise Financial Services, Inc. and American Century Investment Services, Inc. filed electronically as Exhibit 27(h)(3) to Post-Effective Amendment No. 22 to Registration Statement No. 333-44644 is incorporated herein by reference. 8.4 Copy of Amended and Restated Participation Agreement dated June 19, 2006, by and among Calvert Variable Series, Inc., Calvert Asset Management Company, Inc., Calvert Distributors, Inc. and IDS Life Insurance Company filed electronically as Exhibit 27(h)(4) to Post-Effective Amendment No. 28 to Registration Statement No. 333-69777 is incorporated herein by reference. 8.5 Copy of Fund Participation Agreement dated May 1, 2006 among American Enterprise Life Insurance Company, IDS Life Insurance Company, Columbia Funds Variable Insurance Trust I, Columbia Management Advisors, LLC and Columbia Management Distributors, Inc. filed electronically as Exhibit 27(h) (22) to Post-Effective Amendment No. 28 to Registration Statement No. 333-69777 is incorporated herein by reference. 8.6 Copy of Amended and Restated Participation Agreement dated May 1, 2006, by and among American Enterprise Life Insurance Company, American Partners Life Insurance Company, IDS Life Insurance Company, Credit Suisse Trust, Credit Suisse Asset Management, LLC. and Credit Suisse Asset Management Securities, Inc. filed electronically as Exhibit 8.6 to Post-Effective Amendment No. 41 to Registration Statement No. 333-79311 is incorporated herein by reference. 8.7 Copy of Fund Participation Agreement dated May 1, 2006, by and among American Enterprise Life Insurance Company, IDS Life Insurance Company, The Dreyfus Corporation, Dreyfus Variable Investment Fund, and Dreyfus Investment Portfolios filed electronically as Exhibit 8.7 to Post-Effective Amendment No. 41 to Registration Statement No. 333-79311 is incorporated herein by reference. 8.8 Copy of Participation Agreement dated May 1, 2006, among Eaton Vance Variable Trust, Eaton Vance Distributors, Inc. and IDS Life Insurance Company filed electronically as Exhibit 8.8 to Post-Effective Amendment No. 41 to Registration Statement No. 333-79311 is incorporated herein by reference. 8.9 Copy of Evergreen Variable Annuity Trust Amended and Restated Participation Agreement dated June 1, 2006, by and among American Enterprise Life Insurance Company, IDS Life Insurance Company and Evergreen Variable Annuity Trust filed electronically as Exhibit 27(h) (6) to Post-Effective Amendment No. 28 to Registration Statement No. 333-69777 is incorporated herein by reference. 8.10 Copy of Participation Agreement among Variable Insurance Products Fund, Fidelity Distributors Corporation and IDS Life Insurance Company, dated Sept. 1, 1999, filed electronically as Exhibit 8.8(a) to Post-Effective Amendment No. 3 to Registration Statement No. 333-79311 is incorporated herein by reference. 8.11 Copy of Amended and Restated Participation Agreement by and between Franklin Templeton Variable Insurance Products Trust, Franklin/Templeton Distributors, Inc., American Centurion Life Assurance Company, American Enterprise Life Insurance Company, IDS Life Insurance Company, IDS Life Insurance Company of New York, Ameriprise Financial Services, Inc. (formerly American Express Financial Advisors Inc.), dated August 1, 2005 filed electronically as Exhibit 8.7 to Registrant's Post-Effective Amendment No. 39 to Registration Statement No. 333-79311 is incorporated by reference. 8.12 Copy of Amended and Restated Participation Agreement dated June 9, 2006, by and among American Enterprise Life Insurance Company, IDS Life Insurance Company, Goldman Sachs Variable Insurance Trust and Goldman, Sachs & Co. filed electronically as Exhibit 27(h)(24) to Post Effective Amendment No.28 to Registration Statement No. 333-69777 is incorporated herein by reference. 8.13 Copy of Janus Aspen Series Amended and Restated Fund Participation Agreement dated September 1, 2006, by and among American Enterprise Life Insurance Company, American Partners Life Insurance Company, IDS Life Insurance Company and Janus Apsen Series filed electronically as Exhibit 27(h)(12) to Post-Effective Amendment No. 28 to Registration Statement No. 333-69777 is incorporated herein by reference. 8.14 Copy of Amended and Restated Participation Agreement by and among IDS Life Insurance Company, American Enterprise Life Insurance Company, Ameriprise Financial Services, Inc., Lazard Asset Management Securities LLC, and Lazard Retirement Series, Inc., dated Oct. 16, 2006, filed electronically as Exhibit 8.14 to Post-Effective Amendment No. 42 to Registration Statement No. 333-79311 is incorporated by reference. 8.15 Copy of Fund Participation Agreement dated Jan. 1, 2007, by and among RiverSource Life Insurance Company, RiverSource Distributors, Inc. and Lazard Asset Management Securities LLC and Lazard Retirement Series, Inc. filed electronically as Exhibit 8.15 to Post-Effective Amendment No. 42 to Registration Statement No. 333-79311 is incorporated by reference. 8.16 Copy of Amended and Restated Participation Agreement dated September 1, 2006, by and among IDS Life Insurance Company, Legg Mason Partners Variable Portfolios I, Inc. (formerly Salomon Brothers Variable Series Fund, Inc.), Legg Mason Partners Variable Portfolios II, Inc. (formerly Greenwich Street Series Fund, formerly Smith Barney Series Fund, formerly Smith Barney Shearson Series Fund, formerly Shearson Series Fund), Legg Mason Partners Variable Portfolios III, Inc. (formerly Travelers Series Fund Inc., formerly Smith Barney Travelers Series Fund Inc.) and Legg Mason Investor Services, LLC filed electronically as Exhibit 8.15 to Post-Effective Amendment No. 41 to Registration Statement No. 333-79311 is incorporated herein by reference. 8.17 Copy of Participation Agreement Among MFS Variable Insurance Trust, American Enterprise Life Insurance Company, IDS Life Insurance Company and Massachusetts Financial Services Company, dated June 9, 2006, filed electronically as Exhibit 8.17 to Post-Effective Amendment No. 42 to Registration Statement No. 333-79311 is incorporated by reference. 8.18 Copy of Fund Participation Agreement dated March 2, 2006, by and between Neuberger Berman Advisers Management Trust, Neuberger Berman Management, Inc. and IDS Life Insurance Company filed electronically as Exhibit 8.17 to Post-Effective Amendment No. 41 to Registration Statement No. 333-79311 is incorporated herein by reference. 8.19 Copy of Participation Agreement by and among Oppenheimer Variable Account Funds, Oppenheimer Funds, Inc. and IDS Life Insurance Company, dated Jan. 12, 2004 filed electronically as Exhibit 8.21 to Post-Effective Amendment No. 24 to Registration Statement No. 333-79311, is incorporated by reference. 8.20 Copy of Participation Agreement dated March 1, 2006, among IDS Life Insurance Company, PIMCO Variable Insurance Trust and Allianz Global Investors Distributors LLC filed electronically as Exhibit 8.19 to Post-Effective Amendment No. 41 to Registration Statement No. 333-79311 is incorporated herein by reference. 8.21 Copy of Amended and Restated Fund Participation Agreement dated September 1, 2006, among Pioneer Variable Contracts Trust, IDS Life Insurance Company, Pioneer Investment Management, Inc., and Pioneer Funds Distributor, Inc. filed electronically as Exhibit 27(h)(15) to Post-Effective Amendment No. 28 to Registration Statement No. 333-69777 is incorporated herein by reference. 8.22 Copy of Participation Agreement by and among IDS Life Insurance Company and Putnam Capital Manager Trust and Putnam Mutual Funds Corp., dated March 1, 1996, filed electronically as Exhibit 8.1 to Post-Effective Amendment No. 2 to Registration Statement No. 33-62407 is incorporated herein by reference. 8.23 Copy of Participation Agreement dated January 1, 2007, by and among RiverSource Life Insurance Company, RiverSource Life Insurance Co. of New York and RiverSource Distributors, Inc. filed electronically as Exhibit 8.23 to Post-Effective Amendment No. 42 to Registration Statement No. 333-79311 is incorporated by reference. 8.24 Copy of Participation Agreement by and among Royce Capital Fund and Royce & Associates, Inc. and RiverSource Life Insurance Company, dated Jan. 1, 2007, filed electronically as Exhibit 8.24 to Post-Effective Amendment No. 42 to Registration Statement No. 333-79311 is incorporated by reference. 8.25 Copy of Amended and Restated Participation Agreement dated May 1, 2006, among The Universal Institutional Funds, Inc., Morgan Stanley Investment Management Inc., Morgan Stanley Distribution, Inc., American Enterprise Life Insurance Company and IDS Life Insurance Company filed electronically as Exhibit 8.24 to Post-Effective Amendment No. 41 to Registration Statement No. 333-79311 is incorporated herein by reference. 8.26 Copy of Amended and Restated Participation Agreement dated October 12, 2006, by and among Third Avenue Variable Series Trust, Third Avenue Management LLC, American Enterprise Life Insurance Company and IDS Life Insurance Company filed electronically as Exhibit 27(h)(18) to Post-Effective Amendment No. 28 to Registration Statement No. 333-69777 is incorporated herein by reference. 8.27 Copy of Amended and Restated Participation Agreement dated May 1, 2006, among Van Kampen Life Investment Trust, Van Kampen Funds Inc., Van Kampen Asset Management, American Enterprise Life Insurance Company and IDS Life Insurance Company filed electronically as Exhibit 8.26 to Post-Effective Amendment No. 41 to Registration Statement No. 333-79311 is incorporated herein by reference. 8.28 Copy of Participation Agreement by and among Wanger Advisors Trust and Liberty Wanger Asset Management, L.P. and IDS Life Insurance Company dated August 30, 1999 filed electronically as Exhibit 8.17 to Post-Effective Amendment No. 10 to Registration Statement No. 333-79311, is incorporated herein by reference. 8.29 Copy of Participation Agreement by and among Wells Fargo Variable Trust and RiverSource Life Insurance Company and Wells Fargo Funds Distributors, LLC dated Jan. 1, 2007, filed electronically as Exhibit 8.29 to Post-Effective Amendment No. 42 to Registration Statement No. 333-79311 is incorporated by reference. 9. Opinion of counsel and consent to its use as the legality of the securities being registered is filed electronically herewith. 10. Consent of Independent Registered Public Accounting Firm is filed electronically herewith. 11. None 12. Not applicable. 13. Power of Attorney to sign Amendment to this Registration Statement, dated Aug. 30, 2007 filed electronically as Exhibit 13. to Post-Effective Amendment No. 45 to Registration Statement No. 333-79311 is incorporated by reference. 14. Not applicable.
Item 25. Directors and Officers of the Depositor RiverSource Life Insurance - --------------------------------------------------------------------------- Company - ------- Name Principal Business Address* Position and Offices with Depositor - ------------------------------------------------------ ---------------------------------------- Neysa M. Alecu Anti-Money Laundering Officer Gumer C. Alvero Director and Executive Vice President - Annuities Timothy V. Bechtold Director and President Kent M. Bergene Vice President - Affiliated Investments Walter S. Berman Vice President and Treasurer Richard N. Bush Senior Vice President - Corporate Tax Pat H. Carey Vice President-Fund Relations Charles R. Caswell Reinsurance Officer Mark Gorham Illustration Actuary Jim Hamalainen Vice President - Investments Timothy J. Masek Vice President - Investments Michelle M. Keeley Vice President - Investments Brian J. McGrane Director, Executive Vice President and Chief Financial Officer Thomas R. Moore Secretary Thomas W. Murphy Vice President - Investments Benji Orr Deputy Anti-Money Laundering Officer Kevin E. Palmer Director, Vice President and Chief Actuary Julie A. Ruether Chief Compliance Officer - Separate Accounts and Assistant Secretary Bruce H. Saul Assistant General Counsel and Assistant Secretary Mark E. Schwarzmann Director, Chairman of the Board and Chief Executive Officer Heather M. Somers Assistant General Counsel and Assistant Secretary Bridget M. Sperl Executive Vice President - Client Service David K. Stewart Vice President and Controller * Unless otherwise noted, the business address is 70100 Amerprise Financial Center, Minneapolis, MN 55474.
Item 26. Persons Controlled by or Under Common Control with the Depositor or Registrant (Continued) The following list includes the names of major subsidiaries of Ameriprise Financial, Inc. Jurisdiction of Name of Subsidiary Incorporation Advisory Capital Strategies Group Inc. Minnesota AEXP Affordable Housing Portfolio LLC Delaware American Enterprise Investment Services Inc. Minnesota American Express Property Casualty Insurance Agency of Kentucky Inc. Kentucky American Express Property Casualty Insurance Agency of Maryland Inc. Maryland American Express Property Casualty Insurance Agency of Mississippi Inc. Mississippi American Express Property Casualty Insurance Agency of Pennsylvania Inc. Pennsylvania Ameriprise Auto & Home Insurance Agency, Inc. Wisconsin Ameriprise Bank, FSB United States of America Ameriprise Certificate Company Delaware Ameriprise Financial Services Inc. Delaware Ameriprise India Private Limited India Ameriprise Insurance Company Wisconsin Ameriprise Trust Company Minnesota Amex Assurance Company Illinois Boston Equity General Partner LLC Delaware IDS Cable Corporation Minnesota IDS Cable II Corporation Minnesota IDS Capital Holdings Inc. Minnesota IDS Futures Corporation Minnesota IDS Management Corporation Minnesota IDS Partnership Services Corporation Minnesota IDS Property Casualty Insurance Company Wisconsin IDS Realty Corporation Minnesota IDS REO 1, LLC Minnesota IDS REO 2, LLC Minnesota Investors Syndicate Development Corp. Nevada Kenwood Capital Management LLC (51.1% owned) Delaware MM Asset Management Ltd. England Realty Assets, Inc. Nebraska RiverSource Distributors, Inc. Delaware RiverSource Investments LLC Minnesota RiverSource Life Insurance Company Minnesota RiverSource Life Insurance Co. of New York New York RiverSource Service Corporation Minnesota RiverSource Tax Advantaged Investments, Inc. Delaware Securities America Advisors, Inc. Nebraska Securities America Financial Corporation Nebraska Securities America, Inc. Nebraska Threadneedle Asset Management Holdings Ltd. England
Item 27. Number of Contract owners As of Nov. 30, 2007 there were 207,123 non-qualified contract owners and 377,484 qualified contract owners. Item 28. Indemnification The amended and restated By-Laws of the depositor provide that the depositor will indemnify, to the fullest extent now or hereafter provided for or permitted by law, each person involved in, or made or threatened to be made a party to, any action, suit, claim or proceeding, whether civil or criminal, including any investigative, administrative, legislative, or other proceeding, and including any action by or in the right of the depositor or any other corporation, or any partnership, joint venture, trust, employee benefit plan, or other enterprise (any such entity, other than the depositor, being hereinafter referred to as an "Enterprise"), and including appeals therein (any such action or process being hereinafter referred to as a "Proceeding"), by reason of the fact that such person, such person's testator or intestate (i) is or was a director or officer of the depositor, or (ii) is or was serving, at the request of the depositor, as a director, officer, or in any other capacity, or any other Enterprise, against any and all judgments, amounts paid in settlement, and expenses, including attorney's fees, actually and reasonably incurred as a result of or in connection with any Proceeding, except as provided below. No indemnification will be made to or on behalf of any such person if a judgment or other final adjudication adverse to such person establishes that such person's acts were committed in bad faith or were the result of active and deliberate dishonesty and were material to the cause of action so adjudicated, or that such person personally gained in fact a financial profit or other advantage to which such person was not legally entitled. In addition, no indemnification will be made with respect to any Proceeding initiated by any such person against the depositor, or a director or officer of the depositor, other than to enforce the terms of this indemnification provision, unless such Proceeding was authorized by the Board of Directors of the depositor. Further, no indemnification will be made with respect to any settlement or compromise of any Proceeding unless and until the depositor has consented to such settlement or compromise. The depositor may, from time to time, with the approval of the Board of Directors, and to the extent authorized, grant rights to indemnification, and to the advancement of expenses, to any employee or agent of the depositor or to any person serving at the request of the depositor as a director or officer, or in any other capacity, of any other Enterprise, to the fullest extent of the provisions with respect to the indemnification and advancement of expenses of directors and officers of the depositor. Insofar as indemnification for liability arising under the Securities Act of 1933 (the "Act") may be permitted to directors, officers and controlling persons of the depositor or the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue. Item 29. Principal Underwriter RiverSource Distributors Inc. (a) RiverSource Distributors Inc. is the principal underwriter, depositor or sponsor for RiverSource Variable Annuity Account 1; RiverSource Account F; RiverSource Variable Annuity Fund A; RiverSource Variable Annuity Fund B; RiverSource Variable Account 10; RiverSource Account SBS; RiverSource MVA Account; RiverSource Account MGA; RiverSource Variable Life Separate Account; RiverSource Variable Life Account; RiverSource Account for Smith Barney; RiverSource of New York Variable Annuity Account 1; RiverSource of New York Variable Annuity Account 2; RiverSource of New York Account 4; RiverSource of New York Account 7; RiverSource of New York Account 8; RiverSource of New York Variable Annuity Account; RiverSource of New York Account SBS; RiverSource California Tax-Exempt Trust; RiverSource Bond Series, Inc.; RiverSource Dimensions Series, Inc.; RiverSource Diversified Income Series, Inc.; RiverSource Equity Series, Inc.; RiverSource Global Series, Inc.; RiverSource Government Income Series, Inc.; RiverSource High Yield Income Series, Inc.; RiverSource Income Series, Inc.; RiverSource International Managers Series, Inc.; RiverSource International Series, Inc.; RiverSource Investment Series, Inc.; RiverSource Large Cap Series, Inc.; RiverSource Managers Series, Inc.; RiverSource Market Advantage Series, Inc.; RiverSource Money Market Series, Inc.; RiverSource Retirement Series Trust; RiverSource Sector Series, Inc.; RiverSource Selected Series, Inc.; RiverSource Short Term Investments Series, Inc.; RiverSource Special Tax-Exempt Series Trust, Inc.; RiverSource Strategic Allocation Series, Inc.; RiverSource Strategy Series, Inc.; RiverSource Tax-Exempt Income Series, Inc.; RiverSource Tax-Exempt Money Market Series, Inc.; RiverSource Tax-Exempt Series, Inc.; Ameriprise Certificate Company. (b) As to each director, officer, or partner of the principal underwriter: Name and Principal Business Address* Position and Offices with Underwriter ------------------------------------ ------------------------------------- Neysa M. Alecu Anti-Money Laundering Officer Gumer C. Alvero Director Patrick Bannigan Senior Vice President - Asset Management, Products & Marketing Group Timothy V. Bechtold Director Patrick H. Carey Vice President - Fund Relationship Paul J. Dolan Chief Operating Officer, Chief Administrative Officer Jeffrey P. Fox Chief Financial Officer Martin T. Griffin President-Outside Distribution Richard Laiderman Treasurer Jeffrey McGregor President-Inside Distribution Thomas R. Moore Secretary Benji Orr Deputy Anti-Money Laundering Officer Scott R. Plummer Chief Counsel Julie A. Ruether Chief Compliance Officer Mark E. Schwarzmann Director, President and Chief Executive Officer William F. Truscott Director and Vice President Andrew Washburn Vice President * Unless otherwise noted, the business address is 70100 Ameriprise Financial Center, Minneapolis, MN 55474. (c) IDS Life Insurance Company, the principal underwriter during Registrant's last fiscal year, was paid the following commissions:
NAME OF NET UNDERWRITING PRINCIPAL DISCOUNTS AND COMPENSATION ON BROKERAGE UNDERWRITER COMMISSIONS REDEMPTION COMMISSIONS COMPENSATION - ----------- ---------------- --------------- ----------- ------------ IDS Life Insurance $290,026,122 None None None Company
Item 30. Location of Accounts and Records RiverSource Life Insurance Company 70100 Ameriprise Financial Center Minneapolis, MN 55474 Item 31. Management Services Not applicable. Item 32. Undertakings (a) Registrant undertakes to file a post-effective amendment to this registration statement as frequently as is necessary to ensure that the audited financial statements in the registration statement are never more than 16 months old for so long as payments under the variable annuity contracts may be accepted. (b) Registrant undertakes to include either (1) as part of any application to purchase a contract offered by the prospectus, a space that an applicant can check to request a Statement of Additional Information, or (2) a post card or similar written communication affixed to or included in the prospectus that the applicant can remove to send for a Statement of Additional Information. (c) Registrant undertakes to deliver any Statement of Additional Information and any financial statements required to be made available under this Form promptly upon written or oral request. (d) Registrant represents that it is relying upon the no-action assurance given to the American Council of Life Insurance (pub. avail. Nov. 28, 1988). Further, Registrant represents that it has complied with the provisions of paragraphs (1)-(4) of that no-action letter. (e) The sponsoring insurance company represents that the fees and charges deducted under the contract, in the aggregate, are reasonable in relation to the services rendered, the expenses expected to be incurred, and the risks assumed by the insurance company. SIGNATURES As required by the Securities Act of 1933 and the Investment Company Act of 1940, RiverSource Life Insurance Company, on behalf of the Registrant, certifies that it meets all of the requirements of Securities Act Rule 485(b) for effectiveness of this Amendment to its Registration Statement and has caused this Amendment to its Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized in the City of Minneapolis, and State of Minnesota, on the 14th day of December, 2007. RIVERSOURCE VARIABLE ACCOUNT 10 (Registrant) By RiverSource Life Insurance Company (Sponsor) By /s/ Timothy V. Bechtold* ------------------------------------- Timothy V. Bechtold President As required by the Securities Act of 1933, Amendment to this Registration Statement has been signed by the following persons in the capacities indicated on the 14th day of December, 2007. /s/ Gumer C. Alvero* Director and Executive Vice President - ------------------------------------- - Annuities Gumer C. Alvero /s/ Timothy V. Bechtold* Director and President - ------------------------------------- (Chief executive officer) Timothy V. Bechtold /s/ Arthur H. Berman* Director and Executive Vice President - - ------------------------------------- Finance Arthur H. Berman (Principal Financial Officer) /s/ Brian J. McGrane* Director, Executive Vice President and - ------------------------------------- Chief Financial Officer Brian J. McGrane /s/ Kevin E. Palmer* Director, Vice President and Chief - ------------------------------------- Actuary Kevin E. Palmer /s/ Bridget M. Sperl* Executive Vice President - Client - ------------------------------------- Services Bridget M. Sperl /s/ David K. Stewart* Vice President and Controller - ------------------------------------- (Principal Accounting Officer) David K. Stewart
* Signed pursuant to Power of Attorney dated Aug. 30, 2007 filed electronically as Exhibit 13. to Registrant's Post-Effective Amendment No. 45 to Registration Statement No. 333-79311, by: /s/ Elisabeth A. Dahl - ------------------------------------- Elisabeth A. Dahl Counsel CONTENTS OF POST-EFFECTIVE AMENDMENT NO. 47 TO REGISTRATION STATEMENT This Post-Effective Amendment is comprised of the following papers and documents: The Cover Page. Part A. The Prospectus for RiverSource Retirement Advisor Advantage Plus Variable Annuity/RiverSource Retirement Advisor Select Plus Variable Annuity filed electronically with Post-Effective Amendment No. 42 to Registration Statement No. 333-79311 on or about April 24, 2007 is incorporated by reference. Supplement for RiverSource Retirement Advisor Advantage Plus/RiverSource Retirement Advisor Select Plus Variable Annuity. Part B. Combined Statement of Additional Information and Financial Information filed electronically with Post-Effective Amendment No. 42 to Registration Statement No. 333-79311 on or about April 24, 2007 is incorporated by reference. Part C. Other Information. The signatures. Exhibit Index 4.35 Form of Guaranteed Minimum Withdrawal Benefit Rider 9. Opinion of counsel and consent to its use as to the legality of the securities being registered. 10. Consent of Independent Registered Public Accounting Firm.
EX-99.(4)(35) 2 c19144bexv99wx4yx35y.txt FORM OF GUARANTEED MINIMUM WITHDRAWAL BENEFIT RIDER GUARANTEED MINIMUM WITHDRAWAL BENEFIT RIDER This rider is made a part of the contract to which it is attached and replaces the rider originally issued with your contract. Except where this rider provides otherwise, it is subject to all of the conditions and limitations of the contract. THIS RIDER CANNOT BE TERMINATED EITHER BY YOU OR US PRIOR TO THE CONTRACT'S SETTLEMENT DATE. This rider requires participation in our asset allocation program. Your initial asset allocation model is shown under Contract Data. The additional charge for this rider is described below. DEFINITIONS CONTRACT DATE AND CONTRACT ANNIVERSARY Your contract date is shown under Contract Data. It is the date from which contract anniversaries, contract years, and contract months are determined. Your contract anniversary is the same day and month as the contract date each year that the contract remains in force. WITHDRAWAL For purposes of this rider, the term "withdrawal" is equal to the term "surrender" in your contract and any other riders. Withdrawals will adjust contract and any rider benefits and values in the same manner as surrenders. GUARANTEED MINIMUM WITHDRAWAL BENEFIT (GMWB) This rider provides a guaranteed withdrawal benefit that gives you the right to make limited partial withdrawals each contract year. If this rider is effective on the contract date, the benefit totals an amount equal to your purchase payments plus any applicable purchase payment credits. After the contract date, the benefit is as described below. The withdrawal amount that you are allowed to take each year is equal to: - 7% of your purchase payments plus any purchase payment credits (if applicable) before the third contract anniversary; or - The Guaranteed Benefit Payment (GBP) on or after the third contract anniversary GUARANTEED BENEFIT AMOUNT (GBA) The amount used to calculate the Guaranteed Benefit Payment is called the Guaranteed Benefit Amount (GBA). The GBA is calculated as described below. The GBA varies based on purchase payments (and purchase payment credits if applicable), the dollar amount of partial withdrawals in a contract year and Step-ups, as described below. REMAINING BENEFIT AMOUNT (RBA) At any point in time, the total guaranteed amount available for future periodic withdrawals is called the Remaining Benefit Amount. GUARANTEED BENEFIT PAYMENT (GBP) The withdrawal amount that you have the right to take each contract year, after the third contract anniversary, until the RBA is depleted is called the Guaranteed Benefit Payment. REMAINING BENEFIT PAYMENT (RBP) The amount available for withdrawal for the remainder of the current contract year is your Remaining Benefit Payment. GUARANTEED MINIMUM WITHDRAWAL BENEFIT As long as your withdrawals do not exceed the allowed amount each contract year, the guarantee remains in effect and you will not be assessed a surrender charge. If you withdraw an amount more than the allowed amount in any contract year, the amount in excess of the allowed amount will be assessed any applicable surrender charges, and the guarantee may be reduced to an amount less than purchase payments and purchase payment credits in accordance with the excess withdrawal processing as described below (see GBA and RBA - when a partial withdrawal is made). At any time you may withdraw any amount up to your entire surrender value; however, withdrawals in excess of the limits under this rider will be subject to excess withdrawal processing. If your contract value increases, the guaranteed benefit can be stepped-up to the higher value at certain intervals. Withdrawals made prior to the third contract anniversary will result in reversal of all prior Step-up's and the Annual Step-Up will not be available until the third anniversary as described below. You may take withdrawals on or after the third anniversary without reversal of previous Step-ups. See the Annual Step-Up section below. 131034-E Page 1 (9/06) REMAINING BENEFIT AMOUNT (RBA) Your RBA is determined at the following times and is subject to a maximum amount as shown under Contract Data: 1. AT RIDER EFFECTIVE DATE If the rider is effective on the contract date, the RBA equals the purchase payments plus any purchase payment credits (if applicable). If the rider is effective on a contract anniversary date, the RBA is the contract value on the later of that anniversary or the valuation date we receive your written request to add the rider if we receive your request before the close of business on that day, otherwise the contract value on the next valuation date. 2. WHEN A SUBSEQUENT PURCHASE PAYMENT IS MADE Each additional purchase payment plus any purchase payment credit (if applicable) has its own RBA equal to the amount of the purchase payment plus purchase payment credit. Upon each subsequent purchase payment, the total RBA is recalculated to equal the sum of the individual RBAs immediately prior to the receipt of the additional purchase payment, plus the RBA associated with the additional purchase payment. 3. WHEN A PARTIAL WITHDRAWAL IS MADE For withdrawals made during the first three contract years, the RBA is calculated after the reversal of any prior Step-ups. Whenever a partial withdrawal is made the RBA will be equal to the amount in either (A) or (B) as follows: (A) If total partial withdrawals in the current contract year are less than or equal to the GBP, the RBA equals the RBA immediately prior to the partial withdrawal less the amount of the partial withdrawal. (B) If total partial withdrawals, including the current withdrawal, in the current contract year are greater than the GBP prior to the current withdrawal, excess withdrawal processing will occur and the RBA will have an automatic reset to the lesser of (i) or (ii) as follows: (i) the contract value immediately following the partial withdrawal; or (ii) the RBA immediately prior to the partial withdrawal less the amount of the partial withdrawal. 4. AT STEP-UP AS DESCRIBED BELOW. 131034-E Page 2 (9/06) GUARANTEED BENEFIT AMOUNT (GBA) Your GBA is determined at the following times and is subject to a maximum amount as shown under Contract Data: 1. AT RIDER EFFECTIVE DATE If the rider is effective on the contract date, the GBA equals the purchase payments plus any purchase payment credits (if applicable). If the rider is effective on a contract anniversary date, the GBA is the contract value on the later of that anniversary or the valuation date we receive your written request to add the rider if we receive your request before the close of business on that day, otherwise the contract value on the next valuation date. 2. WHEN A SUBSEQUENT PURCHASE PAYMENT IS MADE Each additional purchase payment plus any applicable purchase payment credit has its own GBA equal to the amount of the purchase payment plus purchase payment credit. Upon each subsequent purchase payment, the total GBA is recalculated to equal the sum of the individual GBAs immediately prior to the receipt of the additional purchase payment, plus the GBA associated with the additional purchase payment. 3. WHEN A PARTIAL WITHDRAWAL IS MADE For withdrawals made during the first three years, the GBA is calculated after the reversal of any prior Step-ups. Whenever a partial withdrawal is made the GBA will be equal to the amount in either (A) or (B) as follows: (A) If total partial withdrawals in the current contract year are less than or equal to the GBP, the GBA equals the GBA immediately prior to the partial withdrawal. (B) If total partial withdrawals, including the current withdrawal, in the current contract year are greater than the GBP prior to the current withdrawal, excess withdrawal processing will occur and the GBA will have an automatic reset to the lesser of (i) or (ii) as follows: (i) the GBA immediately prior to the partial withdrawal; or (ii) the contract value immediately following the partial withdrawal. 4. AT STEP-UP AS DESCRIBED BELOW. 131034-E Page 3 (9/06) For purposes of this rider, the term "partial withdrawal" is a gross amount and will include any surrender charge and any market value adjustment. GUARANTEED BENEFIT PAYMENT (GBP) At any point in time, the GBP is the lesser of (A) or (B) as follows: (A) a percentage of the GBA as shown under Contract Data; or (B) the RBA. If you withdraw less than the GBP in a contract year, there is no carry over to the next contract year. REMAINING BENEFIT PAYMENT (RBP) At the beginning of each contract year, during the first three years and prior to any withdrawal, the RBP for each purchase payment is set equal to that purchase payment plus any purchase payment credit, multiplied by 7%. At the beginning of any other contract year, each individual RBP is set equal to each individual GBP. Each additional purchase payment will have its own RBP established equal to that payment's GBP. The total RBP is equal to the sum of the individual RBPs Whenever a partial withdrawal is made, the RBP equals the RBP immediately prior to the partial withdrawal less the amount of the partial withdrawal, but not less than zero. STEP-UP STEP-UP DATE (DEFINITION) The contract anniversary date if the Annual Step-up is processed automatically (see "Annual Step-up" below). If not, the valuation date we receive your written request to Step-up if we receive your request before the close of business on that day, otherwise the next valuation date. ANNUAL STEP UP Beginning with the first contract anniversary, an Annual Step-up may be available. If you take any withdrawals during the first three contract years, any previously applied Annual Step-ups will be reversed and the Annual Step-up will not be available until the third contract anniversary The Annual Step-up will be effective on the Step-up Date. Only one Annual Step-up will be allowed each contract year. Other than the exception described above the Annual Step-up may be available as described below. - - On any contract anniversary where the contract value is greater than the total RBA and the annual rider charge would not increase as a result of the Annual Step-up, we will execute the Annual Step-up automatically. When we execute the Annual Step-up automatically the Step-up Date will be the contract anniversary date. - - If the Annual Step-Up would result in an increase of the annual rider charge, we do not execute the Annual Step-up automatically and you will be notified. You then have the option to elect the Annual Step-up, with the resulting charge increase, anytime within the 30 days following that contract anniversary, as long as the contract value is greater than the total RBA on the Step-up Date. The Step-up Date will be the date we receive your written request if we receive your written request before the close of business on that day, otherwise the next valuation date. If the Annual Step-up is executed, the total RBA, and if applicable, the GBP, RBP and total GBA will be adjusted as follows: RBA STEP-UP Subject to the maximum RBA shown under Contract Data, the total RBA will be increased to the contract value on the Step-up Date. GBA STEP-UP Subject to the maximum GBA shown under Contract Data, the total GBA will be set to the greater of (A) and (B) as follows: (A) the total GBA immediately prior to the Annual Step-up; or (B) the contract value on the Step-up Date. 131034-E Page 4 (9/06) GBP STEP-UP The GBP will be calculated, as described earlier, but based on the increased GBA and RBA. RBP STEP-UP Prior to any withdrawals during the first three contract years, the RBP for each purchase payment will be calculated as that purchase payment plus any purchase payment credit multiplied by 7%. The total RBP is equal to the sum of the individual RBPs. Upon Step-up at any other time, the RBP will be calculated as the GBP after the Step-up less all prior partial withdrawals made during the current contract year, but will never be less than zero SPOUSAL CONTINUATION If a surviving spouse chooses to continue the contract under the spousal continuation provision, the rider continues as part of the contract. The surviving spouse may elect to Step-up by making a written request to do so within 30 days following their election to continue the contract. If the surviving spouse elects this Step-up, the RBA will be reset to the greater of the RBA and the contract value in effect on the valuation date we receive the spouse's written request to Step-up if we receive the request before the close of business on that day, otherwise the contract value on the next valuation date. The GBA will be reset to the greater of the GBA and the contract value on that same valuation date. We may increase the charge for this rider if the spouse elects to Step-Up. REQUIRED MINIMUM DISTRIBUTIONS Notwithstanding the excess withdrawal processing provisions above, if you are taking required minimum distributions ("RMD") from this contract and the RMD calculated separately for this contract is greater than the allowed amount on the most recent contract anniversary, the portion of the RMD that exceeds the allowed amount on the most recent rider anniversary will not be treated as an excess withdrawal provided: 1. the RMD is the life expectancy RMD for this contract alone, and 2. the RMD amount is based on the requirements of Internal Revenue Code Section 401(a)(9), related Code provisions, and regulations thereunder that were in effect on the effective date of this rider. Withdrawal amounts greater than the allowed amount on the most recent contract anniversary that do not meet these conditions will result in excess withdrawal processing. REMAINING BENEFIT AMOUNT (RBA) PAYOUT OPTION In addition to the annuity options available under the contract, a fixed payout option is available under this GMWB rider. Under this option, the amount payable each year will be equal to the remaining schedule of GBPs but the total amount paid over the life of the annuity will not exceed the total RBA at the time you begin this fixed payout option. These annualized amounts will be paid in the frequency that you elect. The frequencies will be among those offered by us at that time but will be no less frequently than annually. If, at the death of the owner, payments have been made for less than the total RBA, the remaining payments will be made to the beneficiary. This option may not be available if the contract is issued to qualify under Section 403 or 408 of the Internal Revenue Code of 1986, as amended. For such contracts, this option will be available only if the guaranteed payment period is less than the life expectancy of the owner at the time the option becomes effective. Such life expectancy will be computed using a life expectancy table published by the IRS. This payout option may be elected as a settlement option by the beneficiary of a contract. Whenever multiple beneficiaries are designated under the contract, each such beneficiary's share of the proceeds, if they elect this option, will be in proportion to their applicable designated beneficiary percentage. Beneficiaries of nonqualified contracts may elect this settlement option subject to the Payments to Beneficiary section of the contract. 131034-E Page 5 (9/06) We reserve the right to adjust the remaining schedule of GBPs if necessary to comply with the Internal Revenue Code. 131034-E Page 6 (9/06) CONTRACT PROVISION MODIFICATIONS Because of the addition of this rider to your contract, several contract provisions are hereby modified as described below. PAYMENT LIMITS PROVISION We reserve the right to restrict cumulative subsequent purchase payments to an amount less than the Maximum Purchase Payments Permitted, shown under Contract Data. TRANSFERS OF CONTRACT VALUES PROVISION Since this rider requires participation in our asset allocation program, transfer privileges granted under the contract are suspended other than: 1) transfers among the available asset allocation models, or 2) transfers necessary to adjust contract value allocations to match the fixed and variable allocation percentages utilized in your asset allocation model. RULES FOR SURRENDER PROVISION If the contract value reduces to below the minimum required value of $600 and the RBA remains greater than zero, the following will occur: 1. You will be paid according to the RBA payout option described above. 2. Any attached death benefit riders will terminate. 3. We will no longer accept subsequent purchase payments. 4. The death benefit becomes the remaining payments under the RBA payout option. If the contract value falls to zero and the RBA is depleted, this rider and the contract will terminate. RIDER CHARGE We deduct the fee for this rider once a year from your contract value on your contract anniversary. We pro-rate this fee among the subaccounts, and the Fixed Account (if applicable) in the same proportion your interest in each account bears to your total contract value less amounts in Guarantee Period Accounts ("GPAs") or any Special DCA account. Such charges will only be deducted from GPAs and any Special DCA account if insufficient amounts are available from the fixed account and variable subaccounts. The fee is calculated by multiplying the rider charge by the contract value on the contract anniversary. The rider charge associated with your initial asset allocation model selection is shown under Contract Data. This charge may change if: 1. you change your asset allocation model and the price for the new asset allocation model is higher on the valuation date we receive your written request; or 2. you elect to Step-up the RBA and the charge is higher on the valuation date we receive your written request. The new charge will be the charge in effect on the valuation date we receive your written request to change your investment allocation or Step-up if we receive your request before the close of business on that day, otherwise the charge in effect on the next valuation date. This rider charge is subject to the Maximum Annual Rider charge shown under Contract Data. If your contract is terminated for any reason or when annuity payouts begin, the rider charge will be deducted, adjusted for the number of calendar days coverage was in place during the contract year. EFFECTIVE DATE Upon your acceptance of this rider, it shall be effective as of your contract date except, however, the provision for automatic Step-up (see Annual Step-up) shall apply to contract anniversaries occurring prospectively. ################################### ABCD Secretary 131034-E Page 7 (9/06) EX-99.9 3 c19144bexv99w9.txt OPINION OF COUNSEL AND CONSENT Dec. 14, 2007 RiverSource Life Insurance Company 70100 Ameriprise Financial Center Minneapolis, MN 55474 Re: RiverSource Variable Account 10 RiverSource Retirement Advisor Advantage Plus Variable Annuity RiverSource Retirement Advisor Select Plus Variable Annuity File No. 333-79311/811-07355 Ladies and Gentlemen: I am familiar with the establishment of the RiverSource Variable Account 10 ("Account"), which is a separate account of RiverSource Life Insurance Company ("Company") established by the Company's Board of Directors according to applicable insurance law. I also am familiar with the above-referenced Registration Statement filed by the Company on behalf of the Account with the Securities and Exchange Commission. I have made such examination of law and examined such documents and records as in my judgment are necessary and appropriate to enable me to give the following opinion: 1. The Company is duly incorporated, validly existing and in good standing under applicable state law and is duly licensed or qualified to do business in each jurisdiction where it transacts business. The Company has all corporate powers required to carry on its business and to issue the contracts. 2. The Account is a validly created and existing separate account of the Company and is duly authorized to issue the securities registered. 3. The contracts issued by the Company, when offered and sold in accordance with the prospectuses contained in the Registration Statement and in compliance with applicable law, will be legally issued and represent binding obligations of its Company in accordance with their terms. I hereby consent to the filing of this opinion as an exhibit to the Registration Statement. Sincerely, /s/ Elisabeth A. Dahl - ------------------------------------- Elisabeth A. Dahl Counsel EX-99.10 4 c19144bexv99w10.txt CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM Consent of Independent Registered Public Accounting Firm We consent to the reference to our firm under the caption "Independent Registered Public Accounting Firm" in the Statement of Additional Information and to the use of our report dated February 26, 2007 with respect to the consolidated financial statements of RiverSource Life Insurance Company and to the use of our report dated April 24, 2007 with respect to the financial statements of RiverSource Life Variable Account 10 included in Post-Effective Amendment No. 42 to the Registration Statement (Form N-4, No. 333-79311) which has been incorporated by reference in this Post-Effective Amendment No. 47 to the Registration Statement (Form N-4, No. 333-79311) for the registration of the RiverSource Retirement Advisor Advantage Plus(R) Variable Annuity and RiverSource Retirement Advisor Select Plus(R) Variable Annuity offered by RiverSource Life Insurance Company. /s/ Ernst & Young LLP Minneapolis, Minnesota December 12, 2007 CORRESP 5 filename5.txt December 14, 2007 VIA EDGAR Securities and Exchange Commission 100 F Street N.E. Washington, D.C. 20549 ATTN: Document Control - Edgar RE: Post-Effective Amendment No. 47 on Form N-4 RiverSource Variable Account 10 File Nos. 333-79311 and 811-07355 RiverSource Retirement Advisor Advantage Plus Variable Annuity RiverSource Retirement Advisor Select Plus Variable Annuity Dear Commissioners: On behalf of RiverSource Variable Account 10 ("Registrant"), RiverSource Life Insurance Company is filing electronically Registrant's Post-Effective Amendment No. 47 ("Amendment No. 47") on Form N-4 pursuant to Rule 485(b) of the Securities Act of 1933. The supplement to the prospectus has been marked to show changes from Registrant's Post-Effective Amendment No. 46 filed under Rule 485(a)(1) on or about October 15, 2007 under this Registration Statement as a template filing to add enhanced version of Guaranteed Minimum Withdrawal Benefit Rider. Registrant received comments on or about December 4, 2007. Registrant replied to Staff's comments via correspondence filed on or about December 13, 2007. Staff had no further comments at that time. This Amendment No. 47 does not contain disclosures that would render it ineligible to become effective pursuant to paragraph (b) of Rule 485. The Prospectus and combined Statement of Additional Information relating to the above-listed supplement, filed electronically as Post-Effective Amendment No. 42 to Registration Statement 333-79311 on or about April 24, 2007 are incorporated by reference. If you have any questions, please contact me at 612-678-0175 or Boba Selimovic at 612-671-7449. Sincerely, /s/ Elisabeth A. Dahl - ------------------------------------ Elisabeth A. Dahl Assistant General Counsel and Assistant Secretary RiverSource Life Insurance Company -----END PRIVACY-ENHANCED MESSAGE-----