EX-13.(B) 6 c28455_ex13b.txt EXHIBIT 13(b) THE TRAVELERS SEPARATE ACCOUNT TEN FOR VARIABLE ANNUITIES SCHEDULE FOR COMPUTATION OF TOTAL RETURN CALCULATIONS The standardized and nonstandardized average annual total returns are computed according to the formula described below. A hypothetical initial investment of $1,000 is applied to the Funding Option, and then related to ending redeemable values as of the most recent fiscal year end, for the calendar year-to-date (nonstandardized only), and over a 1-year, 3-year (nonstandardized only), 5-year, and 10-year period, or since inception if a Funding Option has not been in existence for one of the prescribed periods. 1/n T = (ERV/P) -1 where: T = average annual total return P = a hypothetical initial payment of $1,000 n = the applicable year (1, 3, 5, 10) or portion thereof ERV = ending redeemable value of a hypothetical $1,000 payment made at the beginning of each of the periods Both the standardized and nonstandardized performance returns reflect the deduction for the management fees and other expenses for a Funding Option, the mortality and expense risk charge(s) and the administrative expense charge. For Funding Options that were in existence prior to the date they became available under the Separate Account, the standardized average total return quotations may be accompanied by returns showing the investment performance that such Fund Options would have achieved (reduced by applicable charges/fees) had they been held under the Contract for the period quoted. The total return quotations are based on historical earnings and are not necessarily representative of future performance. STANDARDIZED METHOD The standardized returns take into consideration all fees and/or charges applicable to the Funding Option or contract. Standardized performance figures will only be available after the product offered through the Separate Account has begun operating. Under the standardized method, the $30 annual contract administrative charge is reflected in the calculation. It is expressed as a percentage of assets based on the actual fees collected divided by the average net assets for contracts sold under the prospectus for each year for which performance is shown. NONSTANDARDIZED METHOD Nonstandardized returns do not reflect the deduction of the $30 annual administrative charge, which, if reflected, would decrease the level of performance shown. For a Schedule of the Computation of the Historical Total Return Quotations, see attached. VINTAGE L
INCEP DATE 2002 2001 2000 AIM Capital Appreciation Portfolio 10/10/1995 0.889295 1.190094 1.590455 AIM V.I. Premier Equity Fund 5/5/1993 0.771501 1.126963 1.313113 Alliance Growth Portfolio 6/20/1994 0.774977 1.015617 1.033140 Alliance Growth Portfolio 6/20/1994 0.792208 1.166959 1.439353 AllianceBernstein Growth and Income Portfolio - Class B 6/1/1999 0.738532 1.132660 1.331797 AllianceBernstein Premier Growth Portfolio - Class B 6/26/1992 0.738532 1.132660 1.331797 American Funds Global Growth Fund-Class 2 4/30/1997 0.981807 1.171678 1.391550 American Funds Growth Fund-Class 2 2/8/1984 0.905704 1.221326 1.520249 American Funds Growth-Income Fund-Class 2 2/28/1985 0.903928 1.127696 1.120194 Equity Income Portfolio (Fidelity) 8/30/1996 0.941732 1.114736 1.216021 Equity Index Portfolio - Class II 11/30/1991 0.857953 1.125927 1.308888 Fidelity VIP Contrafund(C)Portfolio-Service Class 1/31/1995 0.842367 0.953718 1.007070 Fidelity VIP Mid Cap Portfolio - Service Class 2 12/29/1998 0.981423 1.103790 1.283159 Franklin Mutual Shares Securities Fund - Class 2 11/8/1996 0.830845 0.959710 0.913388 Franklin Small Cap Fund - Class 2 5/1/1998 0.847734 1.210956 1.455670 Janus Aspen Mid Cap Growth Portfolio - Service Shares 9/13/1993 0.806182 1.142537 1.926968 Large Cap Portfolio (Fidelity) 8/30/1996 0.850466 1.122153 1.382875 Lazard International Stock Portfolio* 8/1/1996 0.831408 0.973029 1.342975 Lazard Retirement Small Cap Portfolio* 11/3/1997 0.975254 1.206775 1.036389 Lord Abbett Growth & Income Portfolio* 12/11/1989 0.956498 1.188724 1.298227 Lord Abbett Mid Cap Value Portfolio* 9/15/1999 1.076861 1.215926 1.146433 MFS Emerging Growth Portfolio 8/30/1996 0.776007 1.202229 1.919202 MFS Emerging Growth Portfolio 8/30/1996 0.776007 1.202229 1.919202 MFS Research Portfolio 3/23/1998 0.834591 1.135751 1.492151 Multiple Discipline Portfolio - All Cap Growth and Value ** 10/1/2002 1.045801 -- -- Multiple Discipline Portfolio - Global All Cap Growth and Value ** 10/1/2002 1.058571 -- -- Multiple Discipline Portfolio - Large Cap Growth and Value ** 10/1/2002 1.053658 -- -- Pioneer Fund Portfolio* 2/4/1994 0.984860 -- -- Putnam VT International Equity Fund - Class IB Shares 1/2/1997 0.841051 1.437651 1.902057 Putnam VT Small Cap Value Fund - Class IB Shares 4/30/1999 0.907083 1.216667 1.758947 Putnam VT Discovery Growth Fund - Class IB Shares 9/28/2000 0.966294 1.122389 1.430696 Salomon Brothers Variable All Cap Fund - Class I 2/17/1998 0.818109 1.204443 1.038660 Salomon Brothers Variable Investors Fund - Class I 2/17/1998 0.844700 1.112078 1.111770 Salomon Brothers Variable Small Cap Growth Fund - Class I 11/1/1999 0.793658 1.118246 1.188533 Smith Barney Aggressive Growth Portfolio 11/1/1999 0.791170 1.238387 1.359856 Smith Barney Appreciation Portfolio 10/16/1991 0.907913 1.196529 1.270775 Smith Barney Fundamental Value Portfolio 12/3/1993 0.893716 1.121433 1.189793 Smith Barney International All Cap Growth Portfolio 6/20/1994 0.841072 1.156882 1.244128 Smith Barney Large Cap Core Portfolio 9/14/1999 0.808398 1.153108 1.706835 Smith Barney Large Cap Growth Portfolio 5/1/1998 0.860657 1.112756 1.326652 Smith Barney Large Cap Value Portfolio 6/20/1994 0.795255 1.165429 1.357222 Smith Barney Mid Cap Core Portfolio 11/1/1999 0.965598 1.086222 1.205039 Smith Barney Premier Selections All Cap Growth Portfolio 9/14/1999 0.849139 1.215991 1.376272 Smith Barney Small Cap Growth Opportunities Portfolio 2/7/1997 0.874888 1.181530 1.402454 Templeton Developing Markets Securities Fund-Class 2* 2/16/1996 0.948085 1.198819 1.458010 Templeton Foreign Securities Fund - Class 2 5/1/1992 0.894469 0.967187 1.072006 Van Kampen LIT Emerging Growth Portfolio 7/3/1995 0.741538 1.118880 1.356943 Van Kampen Enterprise Portfolio 6/21/1994 0.816685 1.118941 1.664090 PIMCO Real Return Portfolio - Adm Class* 9/30/1999 0.964504 1.177799 1.523827 PIMCO Total Return Portfolio 12/31/1997 1.059165 0.834058 0.774934 Smith Barney Diversified Strategic Income Portfolio 10/16/1991 1.027162 0.989249 0.926005
Smith Barney High Income Portfolio 6/22/1994 0.972087 0.998010 0.985541 Travelers Managed Income Portfolio 6/28/1994 0.970420 1.023470 1.083246 MFS Total Return Portfolio 6/20/1994 0.991365 0.967354 0.923235 MFS Total Return Portfolio 6/20/1994 0.991365 1.065984 1.085951 Multiple Discipline Portfolio - Balanced All Cap Growth and Value ** 10/1/2002 1.023211 1.065984 1.085951 Smith Barney Money Market Portfolio 6/20/1994 0.981230 0.986985 0.969713
Inception PORTFOLIO ARCHITECT L Date 12/31/2002 12/31/2001 12/31/2000 AIM Capital Appreciation Portfolio 10/10/1995 0.658711 0.876177 1.165498 AIM V.I. Premier Equity Fund+ 5/5/1993 0.619034 0.897126 1.042414 Alliance Growth Portfolio 6/20/1994 0.527960 0.801583 0.939520 Alliance Growth Portfolio 6/20/1994 0.527960 0.801583 0.939520 AllianceBernstein Premier Growth Portfolio - Class B 6/26/1992 0.523248 0.763530 0.937941 American Funds Global Growth Fund-Class 2* 4/30/1997 0.748336 0.889809 1.053539 American Funds Growth Fund-Class 2* 2/8/1984 0.740425 0.992865 1.231708 American Funds Growth-Income Fund-Class 2* 2/28/1985 0.899691 1.118212 1.110353 Capital Appreciation Fund (Janus) 5/16/1983 0.410637 0.552927 0.756325 Credit Suisse Emerging Markets Portfolio+ 12/31/1997 0.590733 0.677929 0.762205 Delaware VIP REIT Series 5/6/1998 1.299852 1.266555 1.186412 Dreyfus VIF Appreciation Portfolio 4/5/1993 0.725412 0.883617 0.990353 Dreyfus VIF Developing Leaders Portfolio 8/31/1990 0.769459 0.964944 1.045377 Equity Income Portfolio (Fidelity) 8/30/1996 0.890830 1.051301 1.144947 Equity Index Portfolio - Class II 11/30/1991 0.637349 0.831488 0.963774 Federated Stock Portfolio 8/30/1996 0.841402 1.058087 1.059695 Fidelity VIP Dynamic Capital Appreciation Portfolio - Service Class 2 9/26/2000 0.778278 0.855697 1.183529 Fidelity VIP Contrafund(R)Portfolio - Service Class 2 1/3/1995 0.717920 0.806787 0.936200 Fidelity VIP Mid Cap Portfolio - Service Class 2 12/29/1998 0.920616 1.039872 1.096723 Franklin Mutual Shares Securities Fund - Class 2 11/8/1996 0.856991 0.987183 0.939780 Janus Aspen Global Life Sciences Portfolio - Service Shares 1/18/2000 0.655706 0.941231 1.148181 Janus Aspen Global Technology Portfolio - Service Shares 1/18/2000 0.254086 0.427538 0.685510 Janus Aspen Worldwide Growth Portfolio - Service Shares 9/13/1993 0.456621 0.620441 0.811889 Large Cap Portfolio (Fidelity) 8/30/1996 0.597858 0.783831 0.962115 Lazard International Stock Portfolio 8/1/1996 0.598306 0.697434 0.956674 Lazard Retirement Small Cap Portfolio* 11/3/1997 1.002939 1.236983 1.063845 Lord Abbett Growth & Income Portfolio* 12/11/1989 0.983931 1.218704 1.328980 Lord Abbett Mid Cap Value Portfolio* 9/15/1999 1.105917 1.246251 1.175281 MFS Emerging Growth Portfolio 8/30/1996 0.470347 0.720370 1.140813 MFS Emerging Growth Portfolio 8/30/1996 0.470347 0.720370 1.140813 MFS Mid Cap Growth Portfolio 3/23/1998 0.383231 0.748259 0.993372 MFS Research Portfolio 3/23/1998 0.605205 0.817953 1.069577 Pioneer Fund Portfolio* 2/4/1994 1.012669 1.470863 1.940333 Putnam VT Discovery Growth Fund - Class IB Shares+ 9/28/2000 0.570305 0.818127 1.175546 Putnam VT International Equity Fund - Class IB Shares 1/2/1997 0.705762 0.869405 1.103765 Putnam VT Small Cap Value Fund - Class IB Shares 4/30/1999 0.885877 1.100082 0.950180 Salomon Brothers Variable All Cap Fund - Class I 2/17/1998 0.899578 1.217008 1.216080 Salomon Brothers Variable Emerging Growth Fund 12/3/1993 0.770084 1.156795 1.242997 Salomon Brothers Variable Growth and Income Fund 10/16/1991 0.812461 1.074577 1.257263 Salomon Brothers Variable Investors Fund - Class I 2/17/1998 0.832797 1.097253 1.164750 Salomon Brothers Variable Large Cap Growth Fund 5/1/2002 0.812784 1.284886 1.408811 Salomon Brothers Variable Small Cap Growth Fund - Class I 11/1/1999 0.829073 1.015283 1.091618 Strategic Stock Portfolio 5/1/1998 1.015283 0.994272 1.099904 Templeton Developing Markets Securities Fund-Class 2* 2/16/1996 0.975402 1.000778 1.032134 Templeton Growth Securities Fund - Class 2 3/15/1994 0.804048 1.000799 1.060923 Travelers Disciplined Mid Cap Stock Portfolio 4/1/1997 0.844423 0.970256 1.101813
Travelers Disciplined Small Cap Stock Portfolio 5/1/1998 0.970256 -- -- Van Kampen LIT Comstock Portfolio Class II Shares 5/1/1999 0.735497 0.925708 0.969099 Van Kampen LIT Enterprise Portfolio Class II Shares 4/7/1986 0.640867 0.920151 1.176330 Federated High Yield Portfolio 8/30/1996 0.967615 0.950127 0.949051 PIMCO Real Return Portfolio - Adm Class* 9/30/1999 0.992038 0.859387 0.799103 PIMCO Total Return Portfolio 12/31/1997 1.139354 1.064578 0.996970 Putnam Diversified Income Portfolio+ 6/20/1994 1.069795 1.029197 1.005790 Travelers Convertible Securities Portfolio 5/1/1998 0.928121 1.014661 1.041351 Travelers Quality Bond Portfolio 8/30/1996 1.160668 1.117428 1.062788 Janus Aspen Balanced Portfolio - Service Shares 9/13/1993 0.845820 0.921457 0.985681 MFS Total Return Portfolio 6/20/1994 1.066562 1.145184 1.165801 MFS Total Return Portfolio 6/20/1994 1.066562 1.145184 1.165801 Travelers Money Market Portfolio 12/31/1987 1.155918 1.160768 1.139180
PIONEER L
FUND NAME INCEP DATE 2002 2001 2000 AIM V.I. Capital Appreciation Fund - Series II Shares 05/05/93 0.9570483 1.2981178 1.7340092 AIM V.I. Mid Cap Core Equity - Series II 09/10/01 1.0431841 1.2033198 -- Franklin Rising Dividends Securities Fund - Class 2 01/27/92 0.9848231 1.0244472 0.9236239 Franklin Small Cap Fund - Class 2 05/01/98 0.9815538 1.4091267 1.7024567 Oppenheimer Capital Appreciation Fund/ VA - Service Shares 04/03/85 0.9521231 1.3369343 1.5662507 Oppenheimer Global Securities Fund/VA - Service Shares 11/12/90 1.0028732 1.3224984 1.5356972 Pioneer America Income VCT Portfolio - Class II Shares 03/01/95 0.9886959 0.9198432 0.8867468 Pioneer Balanced VCT Portfolio - Class II Shares 03/01/95 0.9625811 1.1009554 1.1562483 Pioneer Emerging Markets VCT Portfolio - Class II Shares 10/30/98 0.965342 1.002561 1.1081887 Pioneer Equity Income VCT Portfolio - Class II Shares 03/01/95 0.9945171 1.2127997 1.3373912 Pioneer Europe VCT Portfolio - Class II Shares 10/30/98 0.9740707 1.2320548 1.6478269 Pioneer Fund VCT Portfolio - Class II Shares 10/31/97 0.9888515 1.2537458 1.443892 Pioneer Growth Shares VCT Portfolio - Class II Shares 10/31/97 0.9333238 1.4717034 1.8659856 Pioneer High Yield VCT Portfolio - Class II Shares 05/01/00 0.8776197 0.9207916 0.8203706 Pioneer International Value Portfolio - Class II Shares 03/01/95 1.0034351 1.1880544 1.5992372 Pioneer Mid-Cap Value VCT Portfolio - Class II Shares 03/01/95 0.9699601 1.1205316 1.0801147 Pioneer Real Estate Shares VCT Portfolio - Class II Shares 03/01/95 0.9464645 0.9474247 -- Pioneer Small Cap Value VCT Portfolio - Class II Shares 11/08/01 1.0119051 1.2195672 -- Pioneer Small Company VCT Portfolio - Class II Shares 01/19/01 1.0364611 1.2806663 0.9022123 Pioneer Strategic Income VCT Portfolio - Class II Shares 07/29/99 0.9136088 0.846868 0.8131769 Salomon Brothers Variable Emerging Growth Fund - Class II 12/03/93 0.9110313 1.388283 1.505105 Salomon Brothers Variable Total Return Fund - Class II 02/17/98 0.9730332 1.0726336 1.1101995 Templeton Foreign Securities Fund - Class 2 05/01/92 1.0213226 1.2839525 1.5650268 Travelers Money Market Portfolio 12/31/87 0.9956339 1.0053774 0.991884