VARIABLE ANNUITY 1 SERIES ACCOUNT

Form Type: 497

Filing Date: 2024-12-23

Corporate Action: Liquidation

Type: Update

Accession Number: 000110465924131143

Comments: This document is a Supplement dated December 23, 2024, which amends certain information in the variable annuity contract’s Updating Summary Prospectus and Prospectus dated May 1, 2024. The Board of Trustees of the Goldman Sachs Variable Insurance Trust has approved a plan to liquidate the Goldman Sachs Multi-Strategy Alternatives Portfolio, with the liquidation anticipated on or about April 11, 2025. Following the liquidation, the sub-account investing in the Fund will also be liquidated, and current Contract Owners can purchase shares of the Fund until April 7, 2025. As of the liquidation date, Protective Life Insurance Company will automatically transfer any Annuity Account Value allocated to the Goldman Sachs Multi-Strategy Alternatives Portfolio Sub-Account to the Schwab® Government Money Market Portfolio™. Additionally, after the liquidation date, no transfers can be made into the Goldman Sachs Multi-Strategy Alternatives Portfolio Sub-Account, nor will any requests for allocation to this sub-account be honored. Existing transfer rights remain intact for the time leading to liquidation, allowing transfers without fees during this period. Further assistance regarding allocations can be sought through financial representatives or by calling customer service.

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Form Type: 497

Filing Date: 2024-12-23

Corporate Action: Liquidation

Type: Update

Accession Number: 000110465924131147

Comments: On December 23, 2024, a supplement was issued to update the summary prospectus and prospectus for the Schwab OneSource Choice Variable Annuity contracts and Schwab Advisor Choice Variable Annuity contracts issued by Empower Annuity Insurance Company of America and Empower Life & Annuity Insurance Company of New York. The supplement announces the Board of Trustees of the Goldman Sachs Variable Insurance Trust's approval of a plan to liquidate the Goldman Sachs Multi-Strategy Alternatives Portfolio, anticipated to occur on April 11, 2025. This liquidation means that the Goldman Sachs Multi-Strategy Alternatives Portfolio Sub-Account will also be liquidated, with existing contract owners allowed to purchase shares until April 7, 2025. After this date, any Annuity Account Value allocated to the Sub-Account will be automatically transferred to the Schwab® Government Money Market Portfolio and confirmation statements will be provided. The transfer of values and investment options will continue without fees until the Liquidation Date, and contract holders are encouraged to review their allocations before the liquidation.

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Form Type: 497VPU

Filing Date: 2024-12-23

Corporate Action: Liquidation

Type: Update

Accession Number: 000110465924131150

Comments: This document serves as a Supplement to the Updating Summary Prospectus and Prospectus dated May 1, 2024, related to Schwab OneSource Choice and Schwab Advisor Choice Variable Annuity contracts issued by Empower Annuity Insurance Company of America and Empower Life & Annuity Insurance Company of New York. It announces the Board of Trustees of the Goldman Sachs Variable Insurance Trust's approval to liquidate the Goldman Sachs Multi-Strategy Alternatives Portfolio, slated for April 11, 2025. Following this date, the associated Sub-Account will also be liquidated, and current Contract Owners can continue purchasing shares until April 7, 2025. Any Annuity Account Value present on the liquidation date will be automatically transferred to the Schwab® Government Money Market Portfolio™. There are specific transfer rights allowing owners to move funds without fees until the liquidation date, and owners are encouraged to assess their allocation instructions prior to this date.

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Form Type: 497VPU

Filing Date: 2024-12-23

Corporate Action: Liquidation

Type: Update

Accession Number: 000110465924131153

Comments: This document serves as a Supplement dated December 23, 2024, updating the Summary Prospectus and Prospectus dated May 1, 2024, for Schwab OneSource Choice Variable Annuity contracts issued by Empower Annuity Insurance Company of America and Schwab Advisor Choice Variable Annuity contracts. A significant point is the Board of Trustees of the Goldman Sachs Variable Insurance Trust has approved a plan to liquidate the Goldman Sachs Multi-Strategy Alternatives Portfolio, scheduled for around April 11, 2025. Following this liquidation, the portfolio will no longer be available as a Sub-Account for the contracts, and the related Goldman Sachs Multi-Strategy Alternatives Portfolio Sub-Account will also be liquidated. Existing Contract Owners can continue to purchase shares of the Fund until April 7, 2025, and after liquidation, their Annuity Account Value will be transferred automatically to the Schwab Government Money Market Portfolio. This Supplement provides critical information about allocation transfer rights and states there will be no transfer fees or limits on the number of free transfers until the liquidation and post-liquidation.

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