M&A - SEPARATE ACCOUNT B OF VENERABLE INSURANCE & ANNUITY Co

Form Type: N-VP/A

Filing Date: 2025-07-10

Corporate Action: Merger

Type: Update

Accession Number: 000083668725000202

Filing Summary: This document serves as a supplement to the prospectus for the PREFERRED ADVANTAGE variable annuity concerning updates related to the Voya Solution 2025 Portfolio and VY® T. Rowe Price Growth Equity Portfolio reorganization. Effective August 22, 2025, the Invesco Oppenheimer V.I. International Growth Fund will be rebranded to Invesco V.I. International Growth Fund. Significant changes include the merger of the Voya Solution 2025 Portfolio into the Voya Solution Income Portfolio on or about August 8, 2025, and the anticipated merger of the VY® T. Rowe Price Growth Equity Portfolio into the Voya Large Cap Growth Portfolio, pending shareholder approval, expected after November 21, 2025. Shareholders will automatically transition to the new funds with equal total net asset values and no tax implications.

Form Type: 497

Filing Date: 2025-07-10

Corporate Action: Merger

Type: Update

Accession Number: 000083668725000200

Filing Summary: This document serves as a supplement to the prospectus and notice for the variable annuity contract issued by Venerable Insurance and Annuity Company. It includes a name change for the Invesco Oppenheimer V.I. International Growth Fund to Invesco V.I. International Growth Fund effective August 22, 2025. Additionally, it details two fund reorganizations: firstly, the Voya Solution 2025 Portfolio will merge into the Voya Solution Income Portfolio on or about August 8, 2025, where shareholders of the Merging Fund will automatically become shareholders of the Surviving Fund without incurring tax liability. Secondly, the VY® T. Rowe Price Growth Equity Portfolio is proposed to merge into the Voya Large Cap Growth Portfolio, subject to shareholder approval, expected to occur on or about November 21, 2025. Investors have options for voluntary transfers prior to each Reorganization Date without incurring charges, detailed within the document. Post-reorganization, the Merging Funds will no longer be available, and allocations to them will be redirected automatically to the corresponding Surviving Funds.