Liquidation: RIVERSOURCE OF NEW YORK ACCOUNT 7

Form Type: 497

Filing Date: 2025-02-25

Corporate Action: Liquidation

Type: New

Accession Number: 000119312525033612

Filing Summary: On February 25, 2025, a supplement was issued to the prospectuses for various RiverSource variable annuity products. The document announces the decision by the Board of Trustees of the Goldman Sachs Variable Insurance Trust to liquidate the Goldman Sachs Multi-Strategy Alternatives Portfolio, effective on or about April 11, 2025. The reasoning provided indicates that the liquidation is in the best interest of the Fund and its shareholders, taking into account various factors. Shareholders can redeem their investments before the liquidation date, which will see any remaining shares in the Fund transferred to the Columbia Variable Portfolio – Government Money Market Fund without charge. The document emphasizes that transfers will not affect annual transfer limitations for contract holders.

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Form Type: 497VPU

Filing Date: 2025-02-25

Corporate Action: Liquidation

Type: Update

Accession Number: 000119312525033623

Filing Summary: On December 11-12, 2024, the Board of Trustees of the Goldman Sachs Variable Insurance Trust approved the liquidation of the Goldman Sachs Multi-Strategy Alternatives Portfolio. This decision was made after thorough consideration, determining that liquidation is advisable for the Fund and its shareholders. The Fund is set to be liquidated on or about April 11, 2025, under a Plan of Liquidation approved by the Board. Shares will be suspended from offering to investors approximately on April 7, 2025. Shareholders can redeem their investments up until the Liquidation Date, and any remaining Contract Value in the Fund will be transferred to the Columbia Variable Portfolio – Government Money Market Fund without charge on the Liquidation Date. Following the Liquidation Date, this Fund will cease to be an investment option. Additionally, shareholders have a 30-day window after the Liquidation Date to surrender Contract value without charge, and a 90-day window to transfer value to other available options without incurring charges.

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