Liquidation: RIVERSOURCE VARIABLE LIFE SEPARATE ACCOUNT

Form Type: 497

Filing Date: 2025-02-25

Corporate Action: Liquidation

Type: Update

Accession Number: 000119312525033608

Filing Summary: On February 25, 2025, a supplement to the prospectuses for various RiverSource® variable annuity products was filed, detailing the decision made by the Board of Trustees of the Goldman Sachs Variable Insurance Trust to liquidate the Goldman Sachs Multi-Strategy Alternatives Portfolio. The liquidation is set for on or about April 11, 2025, following the approval of a Plan of Liquidation. The fund will suspend the offering of its shares to investors on or about April 7, 2025. Shareholders will receive a liquidating distribution equal to the net asset value of the fund's shares on the Liquidation Date. Investors holding contract value in the fund can transfer to other investment options prior to the Liquidation Date. Remaining contract value after liquidation will automatically be transferred to the Columbia Variable Portfolio – Government Money Market Fund. Guidelines for surrendering and transferring funds post-liquidation are also included in the document.

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Form Type: 497

Filing Date: 2025-02-25

Corporate Action: Liquidation

Type: Update

Accession Number: 000119312525033609

Filing Summary: This supplement updates and amends certain information contained in the current variable annuity product prospectus. The Board of Trustees of the Goldman Sachs Variable Insurance Trust approved a proposal to liquidate the Goldman Sachs Multi-Strategy Alternatives Portfolio. This decision was made after careful consideration of various factors, determining it is in the best interest of the Fund and its shareholders. The Fund will be liquidated on or about April 11, 2025, and the offering of its shares will be suspended on or about April 7, 2025. Shareholders will receive a liquidating distribution equal to the net asset value of the Fund shares. Any Contract value allocated to the Fund may be transferred without limitation prior to the Liquidation Date. After liquidation, remaining funds will be transferred to the Columbia Variable Portfolio – Government Money Market Fund without charge, and specific conditions for surrender and transfer of these funds are outlined.

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Form Type: 497

Filing Date: 2025-02-25

Corporate Action: Liquidation

Type: Update

Accession Number: 000119312525033610

Filing Summary: The document serves as a supplement to various prospectuses related to RiverSource variable annuity products. It details the decision made by the Board of Trustees of the Goldman Sachs Variable Insurance Trust to liquidate the Goldman Sachs Multi-Strategy Alternatives Portfolio. The liquidation is set for approximately April 11, 2025, following a Plan of Liquidation. The Board concluded that this action is in the best interest of the Fund and its shareholders. Shareholders will receive a liquidating distribution equal to the net asset value of their shares. The offering of shares will cease on or about April 7, 2025. Investors can redeem their investments before the liquidation date and can transfer their Contract Value to other available investment options without facing any transfer limit before this date. After the liquidation, remaining values will be moved to the Columbia Variable Portfolio – Government Money Market Fund, which will no longer allow investments in the liquidated Fund.

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Form Type: 497

Filing Date: 2025-02-25

Corporate Action: Liquidation

Type: Update

Accession Number: 000119312525033611

Filing Summary: On February 25, 2025, a supplement was issued updating certain information related to variable annuity products. The Goldman Sachs Variable Insurance Trust's Board of Trustees approved the liquidation of the Goldman Sachs Multi-Strategy Alternatives Portfolio. This decision was made during a meeting held on December 11-12, 2024, after considering various factors, concluding that liquidation is advisable for the best interest of the Fund and its shareholders. The Fund is set to be liquidated on April 11, 2025. Shares will be suspended for offering by April 7, 2025. On the liquidation date, shareholders will receive a distribution based on the net asset value of their shares. Investments can be redeemed prior to the liquidation date, and any remaining contract value will be transferred to the Columbia Variable Portfolio – Government Money Market Fund at no charge.

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Form Type: 497

Filing Date: 2025-02-25

Corporate Action: Liquidation

Type: Update

Accession Number: 000119312525033616

Filing Summary: This supplement updates the prospectuses and summary prospectuses for several variable annuity products. The Board of Trustees of the Goldman Sachs Variable Insurance Trust approved the liquidation of the Goldman Sachs Multi-Strategy Alternatives Portfolio, with a liquidation date set for approximately April 11, 2025. Shareholders will receive a liquidating distribution equivalent to the net asset value of their shares. The offering of shares will be suspended around April 7, 2025. Investors can redeem their investments or transfer values to other available options before the liquidation date, with specific provisions for transfers to the Columbia Variable Portfolio. The document emphasizes the importance of retaining this supplement for future reference.

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Form Type: 497VPU

Filing Date: 2025-02-25

Corporate Action: Liquidation

Type: Update

Accession Number: 000119312525033619

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 based on a careful evaluation of several factors, culminating in the conclusion that it is in the best interest of the Fund and its shareholders. The liquidation is scheduled for approximately April 11, 2025. Shareholders will receive a liquidating distribution equivalent to the net asset value of their shares on the Liquidation Date. Investors can redeem their investments any time up until the Liquidation Date. Any funds allocated to the liquidating portfolio after this date will be transferred to the Columbia Variable Portfolio – Government Money Market Fund without any charge. The Fund will cease offering shares to investors by April 7, 2025, and will no longer be a valid investment option thereafter. Investors will have a grace period of 30 days post-liquidation to redeem or transfer their investments without incurring fees.

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Form Type: 497VPU

Filing Date: 2025-02-25

Corporate Action: Liquidation

Type: Update

Accession Number: 000119312525033620

Filing Summary: The document is a supplement dated February 25, 2025, regarding updates to various variable annuity product prospectuses that involve the liquidation of the Goldman Sachs Multi-Strategy Alternatives Portfolio. The Board of Trustees approved the liquidation due to various considerations, determining that it is in the best interest of the Fund and its shareholders. The liquidation will occur on or about April 11, 2025, with the last date to offer shares being approximately April 7, 2025. Shareholders can redeem their investments prior to the liquidation date, and any remaining balance will automatically transfer to the Columbia Variable Portfolio – Government Money Market Fund without any charges. A detailed timeline and implications for contract holders are provided, emphasizing the importance of this update for future investment options and contract values.

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Form Type: 497VPU

Filing Date: 2025-02-25

Corporate Action: Liquidation

Type: Update

Accession Number: 000119312525033621

Filing Summary: On December 11-12, 2024, the Board of Trustees of the Goldman Sachs Variable Insurance Trust approved a proposal to liquidate the Goldman Sachs Multi-Strategy Alternatives Portfolio. The decision was made after evaluating various factors, determining it to be in the best interest of the Fund and its shareholders. The liquidation is scheduled for April 11, 2025, with shares being suspended for new investors from April 7, 2025. Shareholders may redeem investments until the liquidation date, and any remaining investment allocations will be transferred to the Columbia Variable Portfolio – Government Money Market Fund without charge. Additionally, terms regarding transfers and surrenders post-liquidation are clarified, allowing certain flexibility for 30 to 90 days after the liquidation date.

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Form Type: 497VPU

Filing Date: 2025-02-25

Corporate Action: Liquidation

Type: Update

Accession Number: 000119312525033622

Filing Summary: This supplementary document dated February 25, 2025, updates and amends certain information in the current variable annuity product prospectus. It announces that the Board of Trustees of the Goldman Sachs Variable Insurance Trust approved the liquidation of the Goldman Sachs Multi-Strategy Alternatives Portfolio, a series of the Trust. The liquidation will take place on or about April 11, 2025, following a Plan of Liquidation approved by the Board. This decision was made after careful consideration of various factors, which deemed it beneficial for the Fund and its shareholders. The Fund will stop offering shares to investors around April 7, 2025. On the Liquidation Date, shareholders will receive distributions equivalent to the net asset value of their Fund shares. Investors with Contract Value in the Fund can transfer to other available options until the Liquidation Date; after that, any remaining balance will automatically be transferred to the Columbia Variable Portfolio – Government Money Market Fund without charge. Temporary provisions allow for fee-free surrenders and transfers from this Money Market Fund for a limited period.

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Form Type: 497VPU

Filing Date: 2025-02-25

Corporate Action: Liquidation

Type: Update

Accession Number: 000119312525033627

Filing Summary: This document is a supplement dated February 25, 2025, to the prospectuses and summary prospectuses for various RiverSource variable annuity products. It details the Board of Trustees' decision on December 11-12, 2024, to liquidate the Goldman Sachs Multi-Strategy Alternatives Portfolio. The liquidation is to be executed on or about April 11, 2025, following a Plan of Liquidation approved by the Board. As of April 7, 2025, the Fund will suspend shares' offering. The document outlines that shareholders can redeem their investments until the Liquidation Date, with remaining shares being transferred without charge to the Columbia Variable Portfolio – Government Money Market Fund. Furthermore, shareholders will not have to pay fees for transferring or surrendering funds within specified time frames after the Liquidation Date. The supplement emphasizes retaining this document for future reference as it amends previously provided information.

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