M&A - VARIABLE ANNUITY 1 SERIES ACCOUNT

Form Type: 497

Filing Date: 2025-03-20

Corporate Action: Merger

Type: Update

Accession Number: 000110465925025989

Filing Summary: This is a supplement dated March 20, 2025, to the Updating Summary Prospectus and Prospectus for Schwab Advisor Choice Variable Annuity and Schwab OneSource Choice Variable Annuity contracts. The key point is the reorganization of certain Pioneer Variable Contracts Trust portfolios into Victory Variable Insurance Funds II portfolios, subject to shareholder approval. A special meeting is to be held on March 27, 2025, to vote on the reorganization, anticipated to occur on or about April 1, 2025. The document details the portfolios involved in the reorganization and states that on the closing date, existing investments in the Target Portfolios will be converted to the corresponding Acquiring Portfolios. It is emphasized that the annuity account value and rights under the contract will remain unchanged, and there will be no additional fees or tax consequences. The supplement also instructs policyholders to update their allocation instructions after the reorganization.

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Form Type: 497

Filing Date: 2025-03-20

Corporate Action: Merger

Type: Update

Accession Number: 000110465925025990

Filing Summary: This document is a Supplement dated March 20, 2025, related to the Updating Summary Prospectus and Prospectus for the Schwab Advisor Choice Variable Annuity and Schwab OneSource Choice Variable Annuity contracts issued by Empower Annuity Insurance Company of America and Empower Life & Annuity Insurance Company of New York. It details a significant reorganization approved by the Board of Trustees of the Pioneer Variable Contracts Trust, which involves the reorganization of certain portfolios (Target Portfolios) into Victory Variable Insurance Funds II portfolios (Acquiring Portfolios). This reorganization will require shareholder approval at a special meeting on March 27, 2025, and, if approved, will take place around April 1, 2025. Following the reorganization, the Target Portfolios will liquidate, cease operations, and no longer be available for investment. Any allocations in Target Portfolios will be automatically updated to the corresponding Acquiring Portfolios unless instructed otherwise by the contract holder. There are no changes to rights, obligations, fees, or tax consequences as a result of this reorganization.

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Form Type: 497

Filing Date: 2025-03-20

Corporate Action: Merger

Type: Update

Accession Number: 000110465925025997

Filing Summary: This Supplement amends certain information in variable annuity contract Prospectus(es) regarding the reorganization of Pioneer Variable Contracts Trust portfolios into Victory Variable Insurance Funds II portfolios. The reorganization is subject to shareholder approval and a special meeting is scheduled for March 27, 2025. If approved, the reorganization will take place on or about April 1, 2025. Annuity Account Values in the Target Portfolios will be moved to the corresponding classes of Acquiring Portfolios on the Closing Date. The Target Portfolios will cease operations and will no longer be available for investment. Rights, obligations, and fees under existing contracts will remain unchanged, and there are no tax consequences for the shareholders resulting from this reorganization. Questions can be directed to Protective Life via provided contact information.

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Form Type: 497

Filing Date: 2025-03-20

Corporate Action: Merger

Type: Update

Accession Number: 000110465925025998

Filing Summary: This document serves as a Supplement dated March 20, 2025, to the Prospectus for variable annuity contracts issued by Empower Annuity Insurance Company of America and Empower Life & Annuity Insurance Company of New York. The Supplement outlines a planned reorganization of certain portfolios within the Pioneer Variable Contracts Trust, specifically targeting the reorganization of the Target Portfolios into the Acquiring Portfolios. The reorganization is pending shareholder approval and a special meeting is scheduled for March 27, 2025, with the reorganization expected to be completed on or about April 1, 2025. After the reorganization, investments in the Target Portfolios will transition to corresponding classes of the Acquiring Portfolios. Importantly, the rights under the existing contract, including fees and charges, will remain unchanged and there are no tax implications for contract holders. All references to the Target Portfolios will be removed from the contracts post-reorganization and replaced with the Acquiring Portfolios.

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Form Type: 497VPU

Filing Date: 2025-03-20

Corporate Action: Merger

Type: Update

Accession Number: 000110465925025991

Filing Summary: This supplement informs investors about the reorganization of certain Pioneer Variable Contracts Trust portfolios into Victory Variable Insurance Funds II portfolios, pending shareholder approval. The reorganization will be presented to shareholders on March 27, 2025, with an anticipated effective date of around April 1, 2025. Upon approval, all investments in the target portfolios will transition to the corresponding acquiring portfolios, leading to the liquidation and cessation of operations of the target portfolios. The document assures that contract rights, obligations, fees, and tax implications will remain unchanged.

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Form Type: 497VPU

Filing Date: 2025-03-20

Corporate Action: Merger

Type: New

Accession Number: 000110465925025995

Filing Summary: This document serves as a supplement dated March 20, 2025, to the Updating Summary Prospectus and Prospectus for Schwab Advisor Choice Variable Annuity and Schwab OneSource Choice Variable Annuity contracts. It details the reorganization of certain portfolios within the Pioneer Variable Contracts Trust into the Victory Variable Insurance Funds II portfolios, pending shareholder approval at a special meeting on March 27, 2025. If approved, the reorganization will be implemented on or about April 1, 2025. The existing Target Portfolios will be liquidated and replaced with the corresponding Acquiring Portfolios, with no changes to the rights and obligations under the contracts, including fees and charges. This supplement instructs that any existing allocations related to the Target Portfolios will be automatically adjusted to the corresponding Acquiring Portfolios after the reorganization is completed.

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