497 1 sdfundfeesupp.txt FUND EXPENSE SUPPLEMENT ING USA ANNUITY AND LIFE INSURANCE COMPANY (FORMERLY GOLDEN AMERICAN LIFE INSURANCE COMPANY) SEPARATE ACCOUNT B OF ING USA ANNUITY AND LIFE INSURANCE COMPANY PROSPECTUS SUPPLEMENT DATED JANUARY 1, 2005 SUPPLEMENT TO THE PROSPECTUSES DATED MAY 1, 2004 FOR DEFERRED COMBINATION VARIABLE AND FIXED ANNUITY CONTRACTS ISSUED BY ING USA ANNUITY AND LIFE INSURANCE COMPANY ("SMARTDESIGN ADVANTAGE" "SMARTDESIGN SIGNATURE" AND "SMARTDESIGN VARIABLE ANNUITY") The information in this supplement updates and amends certain information concerning an investment option contained in the above-referenced prospectuses dated May 1, 2004, as amended August 6, 2004, August 18, 2004, October 29, 2004 and November 8, 2004, and, with regard to the SmartDesign Signature prospectus, June 24, 2004. You should read and keep this supplement along with the prospectus. ING VP WORLDWIDE GROWTH PORTFOLIO The Fund Expense Table is amended to reflect the expense reduction for the ING VP Worldwide Growth Portfolio.
---------------------------- ------------- ---------------- ------------ -------------- -------------- ----------------- TOTAL FUND ANNUAL NET FUND EXPENSES ANNUAL DISTRIBUTION WITHOUT EXPENSES INVESTMENT AND/OR SERVICE OTHER WAIVERS OR TOTAL WAIVERS AFTER WAIVERS FUND NAME ADVISORY FEES (12B-1) FEES EXPENSES REDUCTIONS OR REDUCTIONS OR REDUCTIONS ---------------------------- ------------- ---------------- ------------ -------------- -------------- ----------------- ---------------------------- ------------- ---------------- ------------ -------------- -------------- ----------------- ING VP Worldwide Growth 1.00% 0.25% 0.50% 1.75% 0.60% 1.15% Portfolio (1) ---------------------------- ------------- ---------------- ------------ -------------- -------------- -----------------
(1) On September 2, 2004, the Board of ING Variable Insurance Trust approved a reduction in the expense cap for this Portfolio to be effective January 1, 2005. This expense cap reduction is expected to remain in effect until at least December 31, 2005. The table above shows the estimated expenses for this Portfolio based on the Portfolio's actual operating expenses, annualized, for the Portfolio's most recently completed fiscal year and fee waivers or reductions that would have applied under the reduced expense cap. ING USA ANNUITY AND LIFE INSURANCE COMPANY (FORMERLY GOLDEN AMERICAN LIFE INSURANCE COMPANY) ING USA Annuity and Life Insurance Company is a stock company domiciled in Iowa. SmartDesign - 134659 01/01/05